NC Bancorp
Chicago,
Ill. |
See all recipients in
Illinois
$7.19M
Disbursed
$2.28M
Returned
$332K
Revenue to Gov't
$4.57M
Net Outstanding
This investment resulted in a loss to taxpayers.
Date | Type | Amount | Program | Description |
---|---|---|---|---|
06/28/2013 | Refund | $2,281,458 | CPP |
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.
|
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
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.
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