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March 22, 2014
20:01 EDTFFKTFarmers Capital Bank to repurchase one-third of its outstanding preferred stock
Farmers Capital Bank announced on March 21 that the Federal Reserve Bank of St. Louis approved the company's request to repurchase 10,000 shares, or one-third, of its outstanding Series A preferred stock. The purchase price of the shares will be the stated liquidation value of $1,000 per share, plus any accrued dividends. The timing of the repurchase has yet to be determined, but is expected to be completed during Q214. The company estimates the total cost of redeeming the shares to be $10.2M. "We are pleased to be able to repay a portion of our outstanding preferred stock," said Lloyd C. Hillard, Jr., President and CEO of the Company. "Repurchasing the shares not only lessens the impact of the recent increase in the dividend rate, it is also indicative of the continual progress we've made in strengthening the overall financial condition of the company."
News For FFKT From The Last 14 Days
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September 17, 2014
10:00 EDTFFKTOn The Fly: Analyst Initiation Summary
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08:58 EDTFFKTFarmers Capital Bank initiated with an Outperform at Raymond James
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