June 20, 2009
Authored by: Bryan Cave Leighton Paisner
On June 16, 2009, the Treasury announced the completion of the thirty-first round of TARP Capital infusions. The Treasury purchased a total of approximately $39 million in securities from 7 financial institutions on Friday, June 12, 2009, and has now invested in 624 institutions, totaling approximately $199.5 billion.
River Valley Bancorporation, Wausau, Wisconsin, received the largest infusion, $15 million. SouthFirst Bancshares, Inc., Sylacuaga, Alabama, received the smallest infusion, $2.8 million.
Of note in this round, three institutions took advantage of the TARP Capital expansion for small community banks: First Vernon Bancshares, Virginia Company Bank, and First Financial Bancshares. Under the expansion program, First Vernon and First Financial received investments of approximately 5% of their risk-weighted assets and Virginia Company received an investment of approximately 4% of its risk-weighted assets, while under the normal TARP Capital terms, they would have been eligible to receive only 3% of their risk-weighted assets.
As of June 16, 2009, twenty-two institutions have re-paid approximately $1.9 billion, and Treasury’s outstanding investment equals approximately $197.6 billion.
Click here to view our updated TARP Map.
Click here to view our updated list of TARP Capital recipients ordered by state and a description of our methodology in compiling the list.