NC Bancorp

Chicago, Ill. | See all recipients in Illinois
Revenue to Gov't
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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