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5/5/2020 Treasury Department Announces $93.4 Million In Proceeds From Pricing Of Auctions Of Preferred Stock And Subordinated Debt Of Seve… U.S. DEPARTMENT OF THE TREASURY Press Center Treasury Department Announces $93.4 Million In Proceeds From Pricing Of Auctions Of Preferred Stock And Subordinated Debt Of Seven Financial Institutions 4/19/2013 Auctions Part of Treasury's Continued Efforts to Wind Down TARP's Bank Programs Proceeds Deliver Additional Profit for Taxpayers on TARP's Bank Programs WASHINGTON – As part of the strategy it outlined for winding down its remaining Troubled Asset Relief Program (TARP) bank investments, the U.S. Department of the Treasury announced that it priced auctions of preferred stock and subordinated debt (the "CPP Securities") in the following seven institutions at the following prices: Price per Number of share* or per shares or $1,000 aggregate aggregate principal principal amount amount to be sold Aggregate Gross Proceeds Issuer and Security BancStar, Inc., Festus, MO Fixed Rate Cumulative Perpetual Preferred Stock, Series A $982.67 Fixed Rate Cumulative Perpetual Preferred Stock, Series B 1,001.50 8,600 $8,450,962.00 430 430,645.00 8,881,607.00 Brogan Bankshares, Inc., Kaukauna, WI 7.7% Senior Subordinated Securities due 2039 1,050.01$2,400,000.00 2,520,024.00 13.8% Senior Subordinated Securities due 2039 1,251.13 $120,000.00 150,135.60 2,670,159.60 Guaranty Federal Bancshares, Inc., Springfield, MO Fixed Rate Cumulative Perpetual Preferred Stock, Series A $967.50 https://www.treasury.gov/press-center/press-releases/Pages/jl1903.aspx 12,000 11,610,000.00 1/3 5/5/2020 Treasury Department Announces $93.4 Million In Proceeds From Pricing Of Auctions Of Preferred Stock And Subordinated Debt Of Seve… NewBridge Bancorp, Greensboro, NC Fixed Rate Cumulative Perpetual Preferred Stock, Series A $980.50 52,372 51,350,746.00 Plato Holdings, Inc., St. Paul, MN 7.7% Senior Subordinated Securities due 2039 1,001.50$2,500,000.00 2,503,750.00 13.8% Senior Subordinated Securities due 2039 1,080.21 $107,000.00 115,582.47 2,619,332.47 Plumas Bancorp, Quincy, CA Fixed Rate Cumulative Perpetual Preferred Stock, Series A 1,091.11 11,949 13,037,673.39 Tennessee Valley Financial Holdings, Inc., Oak Ridge, TN Fixed Rate Cumulative Perpetual Preferred Stock, Series A 1,022.11 3,000 3,066,330.00 Fixed Rate Cumulative Perpetual Preferred Stock, Series B 1,127.61 150 169,141.50 3,235,471.50 *Reflects a liquidation preference of $1,000 per share. Due to technical issues, Treasury and its auction agents have decided to extend the auction for the securities of First Financial Service Corporation until 6:00 p.m., New York City time, on Friday, April 19, 2013. The aggregate gross proceeds to Treasury from the auctions are expected to be approximately $93.4 million. "TARP helped prevent our economy from falling into a second Great Depression," said Assistant Secretary for Financial Stability Timothy G. Massad, "and through repayments and these auctions we have now collected nearly $26 billion more than what was invested in the nation's banks. Over the next several months, we will continue to wind down the remaining investments in a way that helps support community banks and protects taxpayer interests." TARP's bank programs have already earned a significant profit for taxpayers. Including the expected proceeds from the transactions announced today, Treasury has now recovered nearly $271 billion from TARP's bank programs through repayments, dividends, interest, and other income – compared to the $245 billion initially invested. Each additional dollar recovered from TARP's bank programs is an additional dollar of profit for taxpayers. The vast majority of the nearly $271 billion in funds recovered to date are from repayments at par, as well as dividends, interest, and sales of warrants. Proceeds from CPP preferred stock auctions comprise less than one percent (approximately $3 billion) of that overall total (nearly $271 billion). These auctions are part of the strategy that Treasury outlined in May 2012 for winding down its remaining TARP bank investments in a way that protects taxpayer interests and preserves the strength of our nation's community banks. Treasury indicated that it intends to use a combination of repayments, restructurings, and sales to manage and recover those remaining investments. https://www.treasury.gov/press-center/press-releases/Pages/jl1903.aspx 2/3 5/5/2020 Treasury Department Announces $93.4 Million In Proceeds From Pricing Of Auctions Of Preferred Stock And Subordinated Debt Of Seve… The closings for the auctions are expected to occur on or about April 29, 2013, subject to customary closing conditions. The offerings were priced through modified Dutch auctions. The CPP Securities sold in the auction have not been and will not be registered under the Securities Act of 1933, as amended (the Act), and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the Act and applicable state securities law. The CPP Securities were offered only to (1) domestic "qualified institutional buyers" as defined in Rule 144A under the Act, (2) certain domestic institutional "accredited investors" as defined in Rule 501(a) under the Act that have total assets of not less than $25,000,000 and (3) in certain cases, certain directors and executive officers of the respective issuers of the CPP Securities. This press release does not constitute an offer to sell or the solicitation of an offer to buy the CPP Securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful. For more details on Treasury's lifetime cost estimates for TARP programs, please visit Treasury's Monthly 105(a) Report to Congress on TARP at this link. ### https://www.treasury.gov/press-center/press-releases/Pages/jl1903.aspx 3/3
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