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The Treasury successfully unloads preferred stakes in 4 community banks, but the sale of a 5th -...
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Friday, August 24, 2012, 2:22 PM ETThe Treasury successfully unloads preferred stakes in 4 community banks, but the sale of a 5th - Guaranty Federal (GFED -2.8%) - was cancelled as the bidding didn't hit the minimum price. The auctions brought in $62.4M, less than the $67.5M investment, but throw in $12M in dividends and the taxpayer came out ahead. The 4 sales: BNCN, FCCO, FXNC, MFNC.
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