Heritage Oaks Bancorp Reaches Agreement With UST To Repurchase Warrants

(RTTNews) - Heritage Oaks Bancorp (HEOP), a bank holding company and parent of Heritage Oaks Bank, announced that it has reached an agreement with the United States Department of Treasury or UST regarding the company's repurchase of warrants which provided the UST the opportunity to purchase 611,650 shares of the company's common stock at a price of $5.15 per share.

The company stated it will repurchase the warrants from the UST for $1.58 million which is the price accepted by the UST on July 30, 2013. The repurchase of these warrants is expected to occur on August 7, 2013.