US Treasury: First Horizon, 1st Source Repurchase Warrants Issued Under TARP

Date : 03/09/2011 @ 4:29PM
Source : Dow Jones News
Stock : First Horizon National Corp. (FHN)
Quote : 17.49  -0.57 (-3.16%) @ 3:59PM

US Treasury: First Horizon, 1st Source Repurchase Warrants Issued Under TARP

First Horizon (NYSE:FHN)
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First Horizon National Corp. (FHN) and 1st Source Corp. (SRCE) on Wednesday repurchased warrants they received under the Treasury Department's Troubled Asset Relief Program, delivering $83.5 million to federal coffers.

First Horizon, based in Memphis, Tenn., repurchased 14.84 million warrants to purchase common stock at a strike price of $8.76 for $79.7 million in proceeds, Treasury said.

1st Source, of South Bend, Ind., repurchased 837,947 warrants at a strike price of $19.87 for $3.75 million in proceeds, Treasury said.

TARP repayments now total $287 billion of the $411 billion disbursed under the program, Treasury said.

   -By Jeffrey Sparshott; Dow Jones Newswires; 202-862-9291; jeffrey.sparshott@dowjones.com 
 
 
 

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