Somerville’s Central Bancorp Inc. has repurchased the warrant it issued to the U.S. Department of Treasury on Dec. 5, 2008 in connection with the company’s participation in the TARP Capital Purchase Program.

The 10-year warrant had entitled the Treasury to purchase up to 234,742 shares of the company’s common stock at an exercise price of $6.39 per share. The company paid Treasury a total of $2.525 million to repurchase the warrant. As previously announced, on Aug, 25, 2011, the company redeemed all $10 million of the preferred stock that it sold to the Treasury under the TARP Capital Purchase Program.

Central Bancorp Repurchases Warrant Issued Under U.S. Treasury’s Capital Purchase Program

by Banker & Tradesman time to read: <1 min
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