llrx-royce.blogspot.com
Executives with Milwaukee-based M&I (NYSE: MI) said they intend to use the proceedws for general corporate purposes and may contribute a portion of the proceedw to the capital ofits subsidiaries. One possible use of the proceedss will be repurchasing a portion ofcapital M&II received through the Capital Purchase part of the federal Troubled Asset Relief Program (TARP). “Any such repurchase would be subjectg to consultation with and approvalby M&I’sx banking regulators,” the bank’s executives said. “Im the event that M&I chooses to seek such there can be no assurance that such approval woulxbe granted.
” Marshall & Ilsley had disclosed May 19 that it intendedd to sell common stock and that some or all of the fundsa could go to repaying TARP. The bank received a $1.7 billion capital infusion in November 2008undeer TARP. The underwriters of Thursday’s offering will be grantesd an option to purchase up to an additional 15 percengt of theshares sold. Co. Inc. and are acting as joint book-runners for the offering. Marshall Ilsley is a financial services corporationwith $61.9 billion in assets and is the largestg banking company headquartered in Wisconsin. M&I Marshall & Ilsley Bank is amongg the largest banks in the TampazBay area, with 11 officess and $605.
3 million in deposits, according to the most recent information available from the Federal Deposit Insurance Corp. M&I stockm closed at $6.42 on Wednesday.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment