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Intervest Bancshares Corporation Announces Repurchase of Outstanding TARP Warrant

September 3, 2014



NEW YORK--(BUSINESS WIRE)-- Intervest Bancshares Corporation (the “Company”) (Nasdaq:IBCA), the holding company for Intervest National Bank, announced today that it has repurchased the warrant that had been issued to the U.S. Department of the Treasury in connection with the Company’s participation in the TARP Capital Purchase Program. The Company paid Treasury $2,892,066 to repurchase the warrant, which has been cancelled. The Company had originally issued the warrant, which permitted Treasury to purchase up to 691,882 shares of the Company’s common stock at an exercise price of $5.42 per share, on December 23, 2008. The Company repurchased all of the shares of TARP preferred stock in June and August of 2013. With the repurchase of the warrant, there are no other investments from the Company’s participation in TARP that remain outstanding.

About Intervest Bancshares Corporation:

Intervest Bancshares Corporation (IBC) is a bank holding company. Its operating subsidiary is Intervest National Bank (INB), a nationally chartered commercialbank that has its headquarters and full-service banking office at One RockefellerPlaza inNewYork City,and a total of six full-service bankingofficesin Clearwater and Gulfport, Florida.IBC’s Common Stock is listed ontheNASDAQGlobal Select Market:TradingSymbolIBCA. Reference is made to IBC’s filings with the SEC for additional information, including a discussion of risks and uncertainties regarding its business.



Intervest Bancshares Corporation

Lowell Dansker, 212-218-2800

Chairman

Fax: 212-218-2808

Source: Intervest Bancshares Corporation


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