SANDUSKY, Ohio, Feb. 18, 2014 /PRNewswire/ -- First Citizens Banc Corp (NASDAQ: FCZA) ("First Citizens") announced today that it has completed the redemption of all 23,184 of its outstanding shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series A (the "Series A Preferred Stock") for an aggregate price of $22.9 million plus approximately $266 thousand of accrued but unpaid dividends. The Series A Preferred Stock was originally issued by First Citizens as part of the U.S. Department of the Treasury's Capital Purchase Program (TARP) and was sold to private investors in September 2012.
James O. Miller, President and Chief Executive Officer, commented, "We are pleased to have completed the redemption of all of the Series A Preferred Stock. This represents the final step in the transition from the TARP program."
SOURCE First Citizens Banc Corp