By Susanna Moon
Chicago, March 6 - The U.S. Department of the Treasury sold $9.95 million of series A fixed-rate cumulative perpetual preferred stock issued by Coastal Banking Co. in a modified Dutch auction.
The preferreds were issued under the Troubled Asset Relief Program.
The agency priced the preferreds at $955.10 per share.
The Treasury will receive all the proceeds.
| Issuer: | Coastal Banking Co.
|
| Issuer: | Fixed-rate cumulative preferred stock
|
| Amount: | $9.95 million
|
| Shares: | 9,950
|
| Par: | $1,000
|
| Price: | $955.10
|
| Pricing date: | March 1
|
| Settlement date: | March 11
|
| Distribution: | Rule 144A
|
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