Sorry , was at work and on I-Phone so could not access 8-k....disregard my first answer now that I see what you are talking about.
It says 'received the Company’s common securities issued by the Trust Preferred Issuers'...
The Trust Preferred Securities are not the common shares of FPFCQ. They are a form of debt that is higher in preference than common equity and must be paid first under the Absolute Priority Rule.
Talmer is assuming the obligation to the Trust Preferred Holders.
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