|Published:||Jun 03, 2010 1:40 PM EDT|
|Updated:||Jun 03, 2010 10:42 AM EDT|
WASHINGTON (AP) - A sale of First Financial Bancorp warrants has
brought the government $2.97 million, the latest move to recoup
costs for taxpayers from the $700 billion financial bailout.
The Treasury Department says it sold 465,117 warrants at a price
of $6.70 per warrant. Treasury had set a minimum bid price of $4.
Warrants give the purchaser the right to buy common stock at a
The auction of the warrants, which was conducted Wednesday,
represent an additional return for the government on the $80
million in support it provided the Cincinnati bank at the height of
the financial crisis in December 2008.