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Article: Premier Financial Bancorp Announces Receipt of $22 Million From U.S. Treasury Capital Purchase Program.
- Article from:
- Mergers & Acquisitions Week
- Article date:
- October 21, 2009
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PREMIER FINANCIAL BANCORP, INC. (PREMIER), (NASDAQ:PFBI), a $1.1 billion community bank holding company with eight bank subsidiaries announced that the company received $22,252,000 of new equity capital funding from the U.S. Treasury Department's Capital Purchase Program. Under the Capital Purchase Program, which is part of the Emergency Economic Stabilization Act, the Treasury Department has agreed to buy preferred stock and related common warrants in qualifying U.S. controlled banks, savings associations, and certain bank and savings and loan holding companies engaged only in financial activities.
On October 2, 2009, Premier issued and sold to the United States ...