February 11, 2009
Authored by: Bryan Cave Leighton Paisner
On February 10, 2009, the Treasury announced the completion of the thirteenth round of TARP Capital infusions. The Treasury purchased a total of approximately $239 million in securities from 28 financial institutions on Friday, February 6, 2009, and has now invested in 389 institutions, totaling $195.6 billion.
Of note in this thirteenth round, two institutions received less than $1 million each: The Freeport State Bank, Harper, Kansas, received $301,000 and Banner County Bank Corporation, Harrisburg, Nebraska, received $795,000. Further, no institution received more than $60 million, with Lakeland Bancorp, Inc., Oak Ridge, New Jersey, receiving the largest infusion at $59 million. In this round, the average infusion was only $8.5 million.
One more state joined the group of states with an institution receiving TARP Capital — Alaska, with Alaska Pacific Bancshares, Inc. receiving a $4.8 million infusion. This leaves only Montana, New Mexico, Vermont, and Wyoming without an institution to have received TARP Capital.
Click here to view our updated TARP Map.