Intermountain Community Bancorp, operates as the holding company for Panhandle State Bank, the largest locally owned state bank in Idaho, has completed its receipt of a $27 million investment from the U.S. Treasury Department as a voluntary participant in the TARP Capital Purchase Program.

Under the Capital Purchase Program, Intermountain has issued 27,000 shares of Series A preferred stock with a $1,000 per share liquidation value to the U.S. Treasury Department.

An official release stated that, the Series A preferred stock provides a 5% dividend for each of the first five years of investment and 9% thereafter until the shares are redeemed.

In addition, Intermountain issued to the U.S. Treasury Department a warrant to purchase 653,226 shares of Intermountain common stock at an initial exercise price of $6.20 per share.

Intermountain Community Bancorp that provides commercial banking services primarily to individuals, professionals, and small to medium-sized businesses in the United States.

The company’s shares closed on Friday at its 52-week-low of $5.30 on OTC Bulleting Board Market. The scrip had its 52-week high of $15 on 31st December 2007.