US Treasury Provides TARP Funds to Local Banks
Location: Washington, DC
Author:
RiskCenter Staff
Date: Friday, January 23, 2009
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/.
Seller |
Name of Institution |
City
|
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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