Park Sterling Announces Redemption of SBLF, When will HBKS?
"We are pleased to announce Park Sterling's exit from the SBLF program," said James C. Cherry, Chief Executive Officer. "This redemption simplifies our capital structure, reduces our overall funding costs and is further evidence of our strong financial position."
HBKS paid a lot of cash out in 2012 year-end special dividend; so the plan has to be to sell out before SBLF come due. Now, if they can't get the right price in a sale, then they have to reconsider. Either way, interest rate on SBLF is so low, it doesn't make sense to pay it off early ... unless the bank isn't making new loans that reduce the rate.