First Midwest (FMBI) Repurchases CPP Warrant from U.S. Treasury
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First Midwest Bancorp, Inc. (Nasdaq: FMBI) has repurchased the warrant the Company issued to the United States Department of the Treasury as a part of the Capital Purchase Program. First Midwest and the Treasury agreed upon a repurchase price of $900,000 for the warrant, which had entitled the Treasury to purchase approximately 1.3 million shares of First Midwest common stock.
On November 28, 2011 the Company announced that it repurchased all of the Company's $193 million of Series B Cumulative Perpetual Preferred Stock that was sold to the Treasury under the CPP. As a result of the warrant repurchase, the Company has repurchased all securities issued to the Treasury under the CPP.
On November 28, 2011 the Company announced that it repurchased all of the Company's $193 million of Series B Cumulative Perpetual Preferred Stock that was sold to the Treasury under the CPP. As a result of the warrant repurchase, the Company has repurchased all securities issued to the Treasury under the CPP.
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