GREENSBORO, N.C., May 15, 2013 (GLOBE NEWSWIRE) -- NewBridge Bancorp (Nasdaq:NBBC) today announced that it has completed the repurchase of the warrant (the "Warrant") to purchase 2,567,255 shares of the company's common stock that was issued to the United States Department of the Treasury (the "Treasury") on December 12, 2008, as part of the Troubled Asset Relief Program (TARP) Capital Purchase Program. The company repurchased the Warrant for its fair market value of $7,778,783.
Pressley A. Ridgill, president and chief executive officer of NewBridge Bancorp, commented: "We are pleased to have completed the repurchase of the Warrant, which achievement marks the conclusion of Treasury's ownership in the company."
About NewBridge BancorpNewBridge Bancorp is the bank holding company for NewBridge Bank, a full service, state-chartered community bank headquartered in Greensboro, North Carolina. The stock of NewBridge Bancorp trades on the NASDAQ Global Select Market under the symbol "NBBC." NewBridge Bank is the largest community bank in the 12-county Piedmont Triad Region of North Carolina and one of the largest community banks in the state. NewBridge Bank serves small to midsize businesses, professionals and consumers with a comprehensive array of financial services, including retail and commercial banking, private banking, wealth management and mortgage banking. NewBridge Bank has assets of approximately $1.7 billion with 37 locations throughout North Carolina.
CONTACT: Ramsey Hamadi, SEVP and Chief Financial Officer 336-369-0900
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV