New Issue: Treasury sells $11.52 million of Stonebridge Financial's TARP preferreds

By Stephanie N. Rotondo

Phoenix, March 15 - The Department of the Treasury auctioned $11.52 million of series C and D fixed-rate cumulative preferred stock issued by Stonebridge Financial Corp.

West Chester, Pa.-based Stonebridge issued the preferreds to the government agency under the Troubled Asset Relief Program. The modified Dutch auction began Tuesday and ended Thursday.

A total of 10,973 of the $1,000-par series C preferreds were priced at $173.53 apiece. Another 549 of the series C preferreds were sold at $298.84.

Total proceeds came to $2.07 million. The financial institution will not receive any of the funds.

Issuer:	Stonebridge Financial Corp.
Issue:	Fixed-rate cumulative preferred stock
Amount:	$11,522,000
Proceeds:	$2,068,207.85
Series C preferreds
Amount:	$10,973,000
Shares:	10,973
Price:	$173.53
Par:	$1,000
Series D preferreds
Amount:	$549,000
Shares:	549
Price:	$298.84
Par:	$1,000

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