Bank of Commerce plans to retire Redding’s $5 million trust preferreds

By Susanna Moon

Chicago, Dec. 16 – Bank of Commerce Holdings plans to retire the $5 million trust preferred securities issued by Redding Bancorp Trust, according to an 8-K filing with the Securities and Exchange Commission.

The purchase price for the trust preferreds will be $4.6 million plus $35,000 of accrued interest.

The liquidation amount is $1,000 per security.

Bank of Commerce is a Redding, Calif.-based bank holding company for Redding Bank of Commerce.

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