January 23, 2009
Authored by: Bryan Cave Leighton Paisner
On January 22, 2009, the Treasury announced the completion of the tenth round of TARP Capital infusions. The Treasury purchased a total of approximately $1.5 billion in securities from 39 financial institutions on Friday, January 16, 2009, and has now invested in 296 institutions, totaling $193.8 billion.
First BanCorp, of San Juan, Puerto Rico, received the largest capital infusion: $400 million. First BanCorp is the second Puerto Rico-based institution to receive TARP funds, joining Popular, Inc. The smallest infusion went to the Community Bank of the Bay, Oakland, California: $1.75 million.
Of note in this tenth round, the first North Dakota-based financial institutions received TARP Capital infusions. State Bankshares, Inc. of Fargo received $50 million and BNCCORP, Inc. of Bismarck received $20 million.
Click here to view our updated TARP Map.