Treasury Provides TARP Funds to Local Banks
Jan 23, 2009
Washington– The U.S. Treasury Department announced details this week of a $1.5 billion investment in 39 banks made through its Capital Purchase Program.
Treasury created the Capital Purchase Program, a part of the Troubled Asset Relief Program, to help to stabilize and strengthen the U.S. financial system. Treasury allocated $250 billion under TARP’s Capital Purchase Program to invest in U.S. financial institutions. To date, the Department has made $193.8 billion of investments, receiving preferred stock and warrants from participating institutions. Investments have ranged from as small as $1 million to as large as $25 billion, financing community banking and Community Development Financial Institutions in 43 states and Puerto Rico.
Institutions that sell shares to the government must comply with restrictions on executive compensation during the period that Treasury holds equity issued through this program and agree to limitations on dividends and stock repurchases. Information about Treasury’s Troubled Asset Relief Program can be found at http://www.treas.gov/initiatives/eesa/.
|
Name of Institution |
City and State |
Price Paid |
|
Home Bancshares, Inc. |
Conway, AR |
$50,000,000 |
|
Washington Banking Company/ Whidbey Island Bank |
Oak Harbor, WA |
$26,380,000 |
|
New Hampshire Thrift Bancshares, Inc. |
Newport, NH |
$10,000,000 |
|
Bar Harbor Bankshares/Bar Harbor Bank & Trust |
Bar Harbor, ME |
$18,751,000 |
|
Somerset Hills Bancorp |
Bernardsville, NJ |
$7,414,000 |
|
SCBT Financial Corporation |
Columbia, SC |
$64,779,000 |
|
S&T Bancorp |
Indiana, PA |
$108,676,000 |
|
ECB Bancorp, Inc./East Carolina Bank |
Engelhard, NC |
$17,949,000 |
|
First BanCorp |
San Juan, PR |
$400,000,000 |
|
Texas Capital Bancshares, Inc. |
Dallas, TX |
$75,000,000 |
|
Yadkin Valley Financial Corporation |
Elkin, NC |
$36,000,000 |
|
Carver Bancorp, Inc |
New York, NY |
$18,980,000 |
|
Citizens & Northern Corporation |
Wellsboro, PA |
$26,440,000 |
|
MainSource Financial Group, Inc. |
Greensburg, IN |
$57,000,000 |
|
MetroCorp Bancshares, Inc. |
Houston, TX |
$45,000,000 |
|
United Bancorp, Inc. |
Tecumseh, MI |
$20,600,000 |
|
Old Second Bancorp, Inc. |
Aurora, IL |
$73,000,000 |
|
Pulaski Financial Corp |
Creve Coeur, MO |
$32,538,000 |
|
OceanFirst Financial Corp. |
Toms River, NJ |
$38,263,000 |
|
Community 1st Bank |
Roseville, CA |
$2,550,000 |
|
TCB Holding Company, Texas Community Bank |
The Woodlands, TX |
$11,730,000 |
|
Centra Financial Holdings, Inc./Centra Bank, Inc. |
Morgantown, WV |
$15,000,000 |
|
First Bankers Trustshares, Inc. |
Quincy, IL |
$10,000,000 |
|
Pacific Coast National Bancorp |
San Clemente, CA |
$4,120,000 |
|
Community Bank of the Bay |
Oakland , CA |
$1,747,000 |
|
Redwood Capital Bancorp |
Eureka, CA |
$3,800,000 |
|
Syringa Bancorp |
Boise, ID |
$8,000,000 |
|
Idaho Bancorp |
Boise, ID |
$6,900,000 |
|
Puget Sound Bank |
Bellevue, WA |
$4,500,000 |
|
United Financial Banking Companies, Inc. |
Vienna, VA |
$5,658,000 |
|
Dickinson Financial Corporation II |
Kansas City, MO |
$146,053,000 |
|
The Baraboo Bancorporation |
Baraboo, WI |
$20,749,000 |
|
Bank of Commerce |
Charlotte, NC |
$3,000,000 |
|
State Bankshares, Inc. |
Fargo, ND |
$50,000,000 |
|
BNCCORP, Inc. |
Bismarck, ND |
$20,093,000 |
|
First Manitowoc Bancorp, Inc. |
Manitowoc, WI |
$12,000,000 |
|
Southern Bancorp, Inc. |
Arkadelphia, AR |
$11,000,000 |
|
Morrill Bancshares, Inc. |
Merriam, KS |
$13,000,000 |
|
Treaty Oak Bancorp, Inc. |
Austin, TX |
$3,268,000 |
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