SOLON, Ohio, March 24, 2011 (GLOBE NEWSWIRE) -- PVF Capital Corp. (Nasdaq:PVFC) (the "Company") announced today a change in the liquidity position and improvement in the tier 1 core capital ratio of its banking subsidiary, Park View Federal Savings Bank (the "Bank"), as a result of the maturity of a $50 million repurchase agreement, which the Bank entered into in March 2006. The borrowing, which matured March 21, 2011, carried an interest rate of 4.99% and was settled by using a portion of the Bank's short-term cash and cash equivalents position, which totaled $131 million at December 31, 2010. The Company expects to reduce its annual borrowing costs related to the matured borrowing by approximately $2.5 million.
PVF Capital Corp. Announces Positive Impact Of Repayment Of Repurchase Agreement
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