New Issue: Treasury sells $1.05 million Bank Financial Services TARP preferreds at auction

By Stephanie N. Rotondo

Phoenix, Dec. 13 - The U.S. Department of the Treasury sold at auction $1.05 million of series T1 and T2 fixed-rate cumulative perpetual preferred stock issued by Bank Financial Services Inc. under the Troubled Asset Relief Program.

The modified Dutch auction began Tuesday and ended late Wednesday.

The Treasury sold 1,004 shares of the T1 series of preferreds at $929.22 per share. Another 50 shares of the T2 series of preferreds were priced at $970.00 per share.

Total proceeds came to $981.437.

The Eden Prairie, Minn.-based bank will not receive any proceeds from the sale.

Issuer:	Bank Financial Services Inc.
Amount:	$1.05 million
Proceeds:	$981,437
Maturity:	Perpetual
Pricing date:	Dec. 12
Settlement date:	Dec. 20
Series T1 fixed-rate cumulative preferred stock
Amount:	$1 million, or 1,004 shares
Liquidation preference:	$1,000 per share
Price:	$929.22 per share
Series T2 fixed-rate cumulative preferred stock
Amount:	$50,000, or 50 shares
Liquidation preference:	$1,000 per share
Price:	$970.00 per share

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