September 17, 2009 (FinancialWire) — Manhattan Bancorp (OTCBB: MNHN) has redeemed all shares of its preferred stock sold on December 5, 2008 to the U.S. Department of the Treasury under the Capital Purchase Program. The company paid $1,707,319 to redeem the preferred stock, representing the $1,000 per share liquidation amount of the stock plus a final accrued dividend of $7,319.

The company said it expects to notify Treasury of its intent to repurchase an outstanding warrant to purchase up to 29,480 shares of its common stock issued to Treasury in connection with its purchase of the preferred stock.

Los Angeles-based Manhattan Bancorp is the parent of Bank of Manhattan, which operates in the South Bay area of Los Angeles, California. Bank of Manhattan’s primary focus is relationship banking to entrepreneurs, family-owned and closely-held middle market businesses, real estate investors and professional service firms.

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