NewBridge Bancorp Announces the Repurchase of the Warrant from Treasury
May 15, 2013
GREENSBORO, N.C. — NewBridge Bancorp (NASDAQ: NBBC) today announced that it has completed the repurchase of the warrant (the “Warrant”) to purchase 2,567,255 shares of the company's common stock that was issued to the United States Department of the Treasury (the “Treasury”) on December 12, 2008, as part of the Troubled Asset Relief Program (TARP) Capital Purchase Program. The company repurchased the Warrant for its fair market value of $7,778,783.
Pressley A. Ridgill, president and chief executive officer of NewBridge Bancorp, commented: “We are pleased to have completed the repurchase of the Warrant, which achievement marks the conclusion of Treasury’s ownership in the company.”