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GFED > SEC Filings for GFED > Form 8-K on 4-Apr-2014All Recent SEC Filings

Show all filings for GUARANTY FEDERAL BANCSHARES INC

Form 8-K for GUARANTY FEDERAL BANCSHARES INC


4-Apr-2014

Other Events


Item 8.01 Other Events

On April 3, 2014, Guaranty Federal Bancshares, Inc. (the "Company") received approval from the Board of Governors of the Federal Reserve System to redeem the Company's Series A Preferred Stock. The Company currently has outstanding 12,000 shares of Series A Preferred Stock. The shares have a liquidation preference of $1,000 per share and carry a coupon rate of 9.0% per annum. The Series A Preferred Stock was originally issued to the U.S. Department of the Treasury in January 2009 as part of their Troubled Asset Relief Program's Capital Purchase Program and was sold to other investors in April 2013 through a public auction.

During the second quarter of 2014, the Company intends to repurchase all of the outstanding Series A Preferred Stock through the exercise of the redemption right under the terms of the Series A Preferred Stock. The Company will provide the holders of the Series A Preferred Stock with a formal notice of redemption and will work with the holders of the Series A Preferred Stock to effect the redemption as soon as practicable.

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