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Southern Financial Capital Trust I, 11% Redeemable Capital Securities
Ticker Symbol: SFFBP* CUSIP: 842872202 Exchange: NNM
* NOTE: This security is no longer trading as of 7/15/2005
Security has been Called for: Friday, July 15, 2005
June 15, 2005 -- Provident Bankshares Corporation (Nasdaq: PBKS) announced today that it will redeem in full Southern Financial Capital Trust I Trust Preferred Securities (Nasdaq: SFFBP), at 105.5% of par on July 15, 2005. Trust Preferred Security holders will also receive interest payments due July 15, 2005. There are $5.0 million in aggregate principal amount of Capital Securities outstanding, at an interest rate of 11.0%. The Capital Securities have a final stated maturity of July 15, 2030, but are callable beginning on July 15, 2005.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Southern Financial Capital Trust I, $0.55 Redeemable Capital Securities, liquidation amount $5.00 per share, guaranteed by Southern Financial Bancorp Inc. (NYSE: SFFB), redeemable at the issuer's option on or after 7/15/2005 at $5.275 per share declining to $5.00 by 7/15/2015 plus accrued and unpaid dividends, maturing 7/15/2030, distributions of 11% ($0.55) per annum are paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record one business day prior to the payment date. The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 11% Junior Subordinated Deferrable Interest Debt Securities due 7/15/2030 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below. Apr 30, 2004 -- Provident Bankshares Corporation (Nasdaq: PBKS) has completed its acquisition of Southern Financial Bancorp, Inc., (Nasdaq: SFFB), the parent company of Southern Financial Bank.
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Go to Parent Company's Record (PBKS)
IPO - 5/19/2000 - 2.00 Million Shares @ $5.00/share.
Link to IPO Prospectus
Market Value $15.8 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 114 East Lexington Street, Baltimore, MD 21202 |
| Main Phone Number |
410-277-7000 |
| Fax Number |
410-576-2887 |
| Investor Relations
Melissa Kelly
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410-277-2080
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| Toll Free Phone Number |
800-962-9644 |
| CEO - Gary N. Geisel |
CFO - Dennis A. Starliper |
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