New Orleans-based Liberty Financial Services Inc. is fully redeeming its series A fixed-rate cumulative perpetual preferred stock originally issued in 2010 under the U.S. Treasury Department's Community Development Capital Initiative.
All the 11,334 shares are being redeemed for a total of $10.6 million.
The redemption follows an $8.5 million investment in the company by Tupelo, Miss.-based BancorpSouth Inc.
Alston & Bird LLP represented BancorpSouth. Adams and Reese LLP represented Liberty.