Citizens South Banking (CSBC) Receives Preliminary Approval for $20.5 Million Investment From SBLF
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Citizens South Banking Corporation (Nasdaq: CSBC) has received preliminary approval to receive an investment up to $20.5 million in the Company's preferred stock from the United States Department of the Treasury ("Treasury") under the Small Business Lending Fund (the "SBLF"). The SBLF is a voluntary program intended to encourage small business lending by providing capital to qualified community banks.
Subject to due diligence and final approval by Treasury, the Company expects to receive the full amount of the approved investment. Closing is expected to occur within approximately 30 days.
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Subject to due diligence and final approval by Treasury, the Company expects to receive the full amount of the approved investment. Closing is expected to occur within approximately 30 days.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
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