Blue Valley Ban Corp., the holding company for Bank of Blue Valley, received regulatory approval to pay back the debt it incurred from the Troubled Asset Relief Program.
The Overland Park company (OTCQX: BVBC) borrowed $21.75 million in TARP funds in 2008, and accumulated $4.89 million in unpaid dividends and interest. The debt incurred 5 percent annually for the first five years, then increased to 9 percent interest since then.
The debt was sold at auction in Oct. 2013 for $21.26 million, which…
Blue Valley Ban Corp., the holding company for Bank of Blue Valley, received regulatory approval to pay back the debt it incurred from the Troubled Asset Relief Program.
The Overland Park company (OTCQX: BVBC) borrowed $21.75 million in TARP funds in 2008, and accumulated $4.89 million in unpaid dividends and interest. The debt incurred 5 percent annually for the first five years, then increased to 9 percent interest since then.
The debt was sold at auction in Oct. 2013 for $21.26 million, which…