Boston Private Financial (BPFH) Files $40M Common Shelf

Boston Private Financial Holdings, Inc. (Nasdaq: BPFH) today announced that it has filed a registration statement for a proposed underwritten public offering of up to $40 million of its common stock with the Securities and Exchange Commission on Form S-1. The Company intends to use the proceeds from the proposed securities offering for general corporate purposes and to support the redemption of its remaining TARP securities. The Company has received approval from the U.S. Treasury to redeem its Series C Preferred Stock issued to the United States Department of the Treasury pursuant to the TARP Capital Purchase Program.