ALMA, Mich., June 17, 2013 (GLOBE NEWSWIRE) -- On Friday, June 14, 2013, Firstbank Corporation (Nasdaq:FBMI) completed the redemption and retirement of all of the remaining shares outstanding of its Series A Preferred Stock. The company paid preferred shareholders a total of $17,000,000 plus dividends accrued since the last regular quarterly payment of dividends. In accordance with the original terms of the preferred stock, the redemption price paid was the $1,000 per share liquidation value. The 17,000 shares that remained outstanding prior to the redemption were all held by private investors who had purchased the shares from the U.S. Treasury at its auction held on June 28, 2012.
Firstbank Corporation Completes Redemption Of Series A Preferred Stock
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