Valley Community Bank (fka VCBC)

[56Chevy]

Concurrently with the signing of the merger agreement, FNB Bancorp and the Bank entered into purchase agreements with the investors holding all of the 5,775 shares of outstanding VCB preferred stock, committing to purchase all of the preferred shares for cash in the amount of $750 per share, subject to and effective with the closing of the merger of VCB with and into the Bank.

It's not known at this moment if the US Treasury is still the holder of the Banks' outstanding preferred stock.

According to Banktracker - As of Oct. 16, 2013 they were but that was 10 months ago and may have changed. The wording in the PR uses the word "investors" which sounds like those shares may have been auctioned off since then to private investors. *Ownership of those Preferred Stocks will be confirmed in an upcoming post.

At any rate whoever holds those shares will be taking a 25% haircut if this deal goes thru. I can't imagine that isn't causing some heartburn among those holders.

Valley Community Bank

Pleasanton, CA

TARP Transactions

Original TARP investment amount: $5,500,000.00 (on Jan. 9, 2009)
Outstanding investment $5,500,000.00
Total cash back: $629,475.50 (May include dividends and interest payments not shown)
Investment status: Full investment outstanding; warrants outstanding

http://banktracker.investigativereportingworkshop.org/tarp/california/pleasanton/valley-community-bank/