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Stock Market & Financial Investment News

News Breaks
September 20, 2011
10:00 EDTEVBSEastern Virginia Bankshares falls 22.7%
Eastern Virginia Bankshares is down 22.7%, or 70c, to $2.38
News For EVBS From The Last 14 Days
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January 20, 2015
09:02 EDTEVBSEastern Virginia Bankshares announces partial redemption of Series A preferreds
Eastern Virginia Bankshares announced the partial redemption of an additional 5,000 shares, or 35.7%, of its 14,000 shares of outstanding Series A Preferred Stock that were originally issued to the U.S. Treasury under the Troubled Asset Relief Program Capital Purchase Program. Following completion of the partial redemption, 9,000 shares of Series A Preferred Stock remain outstanding. The redemption price for the shares of Series A Preferred Stock was the stated liquidation preference amount of $1,000 per share, plus accrued and unpaid dividends. The total aggregate redemption price of the shares of Series A Preferred Stock redeemed in the Partial Redemption was approximately $5.1M. The Partial Redemption will result in estimated annual savings of $450K, or 2c per fully diluted common share, due to the elimination of payment of dividends on the redeemed shares of Series A Preferred Stock. Following completion of the Partial Redemption, the capital ratios of the Company and EVB continue to exceed regulatory capital standards to be categorized as well-capitalized.

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