New Issue: Treasury sells $3.38 million Oregon Bancorp series A, B TARP preferreds

By Stephanie N. Rotondo

Phoenix, Oct. 11 - The U.S. Department of the Treasury auctioned $3.38 milllion of series A and B fixed-rate cumulative perpetual preferreds issued by Oregon Bancorp Inc., according to a press release.

The shares were sold via a modified Dutch auction that began on Monday and ended Thursday. The Salem, Ore.-based bank issued the preferred shares to the Treasury under the Troubled Asset Relief Program.

A total of 3,216 series A shares were priced at par, while another 161 series B shares were sold at $1,015.20 each.

Total proceeds came to $3.38 million.

The Treasury will take in all proceeds.

Issuer:	Oregon Bancorp Inc.
Securities:	Fixed-rate cumulative preferred stock
Maturity:	Perpetual
Par:	$1,000 per share
Pricing date:	Oct. 10
Settlement date:	Oct. 21
Series A preferreds
Amount:	$3.22 million, or 3,216 shares
Price:	Par of $1,000
Series B preferreds
Amount:	$161,000, or 161 shares
Price:	$1,015.20

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