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NC Bancorp

Chicago, Ill. | See all recipients in Illinois

This investment resulted in a loss to taxpayers. See below for details.

$7.19M Disbursed
$2.28M Returned
$332K Revenue to Gov't
$4.57M Net Outstanding
$7.19M Committed
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  • Our frequently updated database tracks every dollar. In the scorecard, we provide a summary generated from the latest numbers.

Events

  • $2.28M Payback

    Jun. 28, 2013 Partial Repayment

    On 6/28/2013, Treasury completed the sale to MBG Investors I, L.P. of all preferred stock (including the preferred stock received upon the exercise of warrants) issued by Metropolitan Bank Group, Inc. to Treasury for an aggregate purchase price of $26,000,000.00, pursuant to the terms of the agreement among Treasury, MBG Investors I, L.P. and Metropolitan Bank Group, Inc. entered into on 6/26/2013.

    More info from www.treasury.gov

  • $93.7K Revenue

    May 17, 2010 Dividends payment

  • $93.7K Revenue

    Feb. 16, 2010 Dividends payment

  • $93.7K Revenue

    Nov. 16, 2009 Dividends payment

  • $51K Revenue

    Aug. 17, 2009 Dividends Paid in Aug. 2009

  • $7.19M Bailout

    Jun. 26, 2009 Preferred Stock w/ Exercised Warrants

    As a result of the acquisition of NC Bancorp, Inc. (the acquired company) by Metropolitan Bank Group, Inc. (the acquiror), Treasury exchanged $6,880,000 of its preferred stock in NC Bancorp, Inc. and $71,526,000 of its preferred stock in Metropolitan Bank Group, Inc. for $81,892,000 of a new series of preferred stock in Metropolitan Bank Group, Inc., which is equivalent to the combined initial investment amount of $78,406,000 plus $3,486,000 of capitalized previously accrued and unpaid dividends, pursuant to the terms of an agreement among Treasury, the acquired company and the acquiror entered into on 3/30/2011. Exercised warrants were also exchanged at the time of the agreement.

Date Type Amount Program Description
06/28/2013 Refund $2,281,458 CPP Partial Repayment
05/17/2010 Dividend $93,740 CPP Dividends payment
02/16/2010 Dividend $93,740 CPP Dividends payment
11/16/2009 Dividend $93,740 CPP Dividends payment
08/17/2009 Dividend $51,036 CPP Dividends Paid in Aug. 2009
06/26/2009 Purchase $7,186,000 CPP Preferred Stock w/ Exercised Warrants

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