The U.S. Treasury Department announced the beginning of public offerings to sell preferred stock from seven banks in the Troubled Asset Relief Program.
The Treasury said in a statement it would conduct auctions on Ameris Bancorp of Moultrie, Georgia; Farmers Capital Bank Corp. of Frankfort, Kentucky; First Capital Bancorp Inc. of Glen Allen, Virginia; First Defiance Financial Corp. of Defiance, Ohio; LNB Bancorp Inc. of Lorain, Ohio; Taylor Capital Group, Inc. of Rosemont, Illinois; and United Bancorp Inc. of Ann Arbor, Michigan.
The stock offerings were to begin today at 8:30 a.m. and close on June 13, the Treasury said.
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