US Treasury to net $2.97 mln on First Financial warrants

WASHINGTON, June 3 Thu Jun 3, 2010 8:31am EDT

WASHINGTON, June 3 (Reuters) - The U.S. Treasury Department said on Thursday that it will take in net proceeds of about $2.97 million from the sale of warrants in First Financial Bancorp (FFBC.O) that were priced at $6.70 each.

The sale of 465,117 warrants is expected to close on or about June 8, Treasury said in a statement, providing U.S. taxpayers with an additional return on the government's preferred stock investment in the bank, which was previously repaid. (Reporting by Glenn Somerville; Editing by Neil Stempleman)

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California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

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