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Boston Private Financial Holdings to redeem preferred stock

Boston Private Financial Holdings Inc. is redeeming all of the company's issued and outstanding 6.95% noncumulative perpetual preferred stock, series D.

The redemption date is June 15. There are 50,000 shares of preferred stock, or $50 million aggregate liquidation preference, currently outstanding. The preferred stock is held on deposit by Computershare Inc.

The redemption price will be 100% of the liquidation preference of the preferred stock to be redeemed, or $1,000 per share of preferred stock, plus any accumulated and unpaid dividends on the preferred stock up to, but not including, June 15.

Upon receiving the aggregate redemption price of the preferred stock, Computershare will redeem the depositary shares, each representing 0.025 of a preferred share.

There are 2 million depositary shares, or $50 million aggregate liquidation preference, currently outstanding. The redemption price of these depositary shares will be 100% of the liquidation preference of the depositary shares to be redeemed, or $25 per depositary share, plus any accumulated and unpaid dividends up to, but not including, the redemption date.