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December TARP Capital Infusions – TARP Map and List of Recipients Updated

During the month of December, the Treasury completed rounds fifty-two, fifty-three, fifty-four, fifty-five, and fifty-six of TARP Capital infusions.  In these five rounds, which closed on December 4,  December 11, December 18, December 22, and December 29, respectively, the Treasury purchased a total of approximately $159 million in securities from 37 financial institutions (24 of which previously received a TARP capital infusion).  Through December 2009, the Treasury had invested in 709 institutions, totaling approximately $204.9 billion.

In these five rounds, First Community Financial Partners received the largest infusion, $22 million, and Valley Financial Group Ltd. received the smallest infusion, $1.3 million.

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November TARP Capital Infusions – TARP Map and List of Recipients Updated

During the month of November, the Treasury completed rounds forty-ninefifty, and fifty-one of TARP Capital infusions.  In these three rounds, which closed on November 6,  November 13, and November 20, respectively, the Treasury purchased a total of approximately $38 million in securities from 7 financial institutions (3 of which previously received a TARP capital infusion).  Through November 2009, the Treasury had invested in 696 institutions, totaling approximately $204.7 billion.

In these three rounds, Presidio Bank, San Francisco, California, received the largest infusion, $10 million, and Community Pride Bank Corporation, received the smallest infusion, $4.4 million.

Of note during the month of November, F&M Bancshares, HPK Financial Corporation, and Metropolitan Capital Corp., joined WashingtonFirst Bankshares, Inc. as institutions to receive a second investment from Treasury in connection with the TARP expansion for community banks.  F&M Bancshares received an additional $3.5 million and had already received $4.6 million; HPK Financial Corporation received an additional $5 million and had already received $4 million; and Metropolitan Capital Corp. received an additional $2.4 million and had already received $2 million.

During November, nine financial institutions (one of which had already re-paid a portion of its funds) re-paid their TARP capital investments: Bank of Ozarks, Inc. ($75 million), LSB Corporation ($15 million), Wainwright Bank & Trust ($22 million), Union Bankshares Corp. ($59 million), Midwest Regional Bancorp, Inc. ($700,000), 1st United Bancorp, Inc. ($10 million), Magna Bank ($3.5 million, approximately 25% of the outstanding amount), Frontier Bancshares, Inc. ($1.6 million), and Westamerica Bancorporation ($41.9 million, completing its repayment).  As of the end of November, 2009, 53 financial institutions had re-paid all, or some portion, of their TARP Capital investment, bringing the total amount re-paid to approximately $71 billion.  At the end of November 2009,  Treasury’s outstanding investment equaled approximately $133.7 billion.

As discussed in another post,  TARP has been extended until October 3, 2010. 

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October TARP Capital Infusions – TARP Map and List of Recipients Updated

During the month of October, the Treasury completed rounds forty-six, forty-seven, and forty-eight of TARP Capital infusions.  In these three rounds, which closed on October 2,  October 23, and October 30, respectively, the Treasury purchased a total of approximately $58 million in securities from 6 financial institutions (1 of which previously received a TARP capital infusion).  Through October 2009, the Treasury had invested in 692 institutions, totaling approximately $204.7 billion.

In these three rounds, Premier Financial Bancorp, Huntington, West Virginia, received the largest infusion, $22 million, and Providence Bank, Rocky Mount, North Carolina, received the smallest infusion, $4 million.

Of note during the month of October, WashingtonFirst Bankshares, Inc. became the first insitution to receive a second investment from Treasury in connection with the TARP expansion for community banks.  WashingtonFirst received $6.8 million on October 30, 2009 and had already received $6.6 million on January 1, 2009.

During October, three financial institutions re-paid their TARP capital investments: Flushing Financial Corp. ($70 million), Commerce National Bank ($5 million), and LCNB Corp. ($13.4 million).  As of the end of October, 2009, 45 financial institutions had re-paid all, or some portion, of their TARP Capital investment, bringing the total amount re-paid to approximately $70.8 billion.  At the end of October 2009,  Treasury’s outstanding investment equaled approximately $133.9 billion.

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September TARP Capital Infusions – TARP Map and List of Recipients Updated

During the month of September, the Treasury completed rounds forty-two, forty-three, forty-four, and forty-five of TARP Capital infusions.  In these four rounds, which closed on September 4, September 11, September 18, and September 25, respectively, the Treasury purchased a total of approximately $141 million in securities from 14 financial institutions.  Through September 2009, the Treasury had invested in 687 institutions, totaling approximately $204.6 billion.

In these four rounds, Community Bancshares of Mississippi, Inc., Brandon, Mississippi, received the largest infusion, $52 million, and State Bank of Bartley, Bartley, Nebraska, received the smallest infusion, $1.7 million. 

During September, seven financial institutions re-paid their TARP capital investments: Valley National Bancorp ($125 million (approximately 42% of the initial investment)), Centerstate Banks of Florida ($27.9 million), Wesbanco Bank, Inc. ($75 million), Manhattan Bank ($1.7 million), CVB Financial Corp. ($32.5 million (25% of the initial investment)), F.N.B. Corporation ($100 million), and Westamerica Bancorporation (approximately $42 million (50% of initial investment)).  Valley National and CVB Corp. had already re-paid a portion of their TARP investments, and Valley National still has $100 million remaining.  As of the end of September, 2009, 42 financial institutions had re-paid all, or some portion, of their TARP Capital investment, bringing the total amount re-paid to approximately $70.7 billion.  At the end of September 2009,  Treasury’s outstanding investment equaled approximately $133.9 billion.

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August TARP Capital Infusions – TARP Map and List of Recipients Updated

During the month of August, the Treasury completed rounds thirty-eight, thirty-nine, forty, and forty-one of TARP Capital infusions.  In these four rounds, which closed on August 7, August 14, August 21, and August 28, respectively, the Treasury purchased a total of approximately $130 million in securities from 9 financial institutions.  Through August 2009, the Treasury had invested in 673 institutions, totaling approximately $204.5 billion.

In these four rounds, U.S. Century Bank, Miami, Florida, received the largest infusion, $50 million, and Bank Financial Services, Inc., received the smallest infusion, $1 million. 

During August, three financial institutions re-paid their TARP capital investments: CVB Financial Corporation ($97.5 million (75% of the initial investment)), Bancorp Rhode Island, Inc. ($30 million), and State Bankshares, Inc. ($12.5 million (25% of the initial investment)).  As of the end of August, 2009, 37 financial institutions had re-paid all, or some portion, of their TARP Capital investment, bringing the total amount re-paid to approximately $70.3 billion.  At the end of August 2009,  Treasury’s outstanding investment equaled approximately $134.2 billion.

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July TARP Capital Infusions – TARP Map and List of Recipients Updated

During the month of July, the Treasury completed rounds thirty-four, thirty-five, thirty-six, and thirty-seven of TARP Capital infusions.  In these four rounds, which closed on July 10, July 17, July 24, and July 31, respectively, the Treasury purchased a total of approximately $1.2 billion in securities from 14 financial institutions.  Through July, the Treasury had invested in 664 institutions, totaling approximately $204.3 billion.

In these four rounds, Lincoln National Corporation, Radnor, Pennsylvania, received the largest infusion, $950 million, and Plato Holdings, Inc., Saint Paul, Minnesota, received the smallest infusion, $2.5 million.  Of note during the July closings, Yadkin Valley Financial Corporation received an additional $13.3 million investment after having received a $36 million investment on January 16, 2009.

During July, two financial institutions repaid their TARP capital investments: First Community Bankshares, Inc., Bluefield, Virginia ($41.5 million); and Old Line Bancshares, Inc., Bowie, Maryland ($7 million).  As of the end of July, 34 financial institutions had re-paid all, or some portion, of their TARP Capital investment, bringing the total amount re-paid to approximately $70.2 billion.  At the end of July,  Treasury’s outstanding investment equaled approximately $134.2 billion.

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Rounds 32 and 33 of TARP Capital Infusions – TARP Map and List of Recipients Updated

On June 23, 2009 and June 30, 2009, the Treasury announced the completion of the thirty-second and thirty-third rounds, respectively, of TARP Capital infusions.  In these two rounds, which closed on June 19 and June 26, the Treasury purchased a total of approximately $3.7 billion in securities from 26 financial institutions.   The Treasury has now invested in 650 institutions, totaling approximately $203.2 billion.

In these two rounds, Hartford Financial Services Group, Inc., Hartford, Connecticut, received the largest infusion, $3.4 billion.  Gold Canyon Bank, Gold Canyon, Arizona, received the smallest infusion, $1.6 million.

Of note during the last two weeks of June, 2009, eleven institutions re-paid approximately $68.3 billion.  The largest re-payments came from JPMorgan & Chase ($25 billion), The Goldman Sachs Group, Inc. ($10 billion), and Morgan Stanley ($10 billion).  As of June 30, 2009, the total amount re-paid under the TARP Capital Purchase Program is approximately $70.1 billion, and  Treasury’s outstanding investment equals approximately $133.1 billion. 

Also of note, the Treasury provided the warrant disposition information for a number of institutions that had previously re-paid the Treasury (please click here for our discussion of the disposition process).  The Treasury disposed of the additional investment of thirteen institutions (10 public (via warrants) and 3 private (via preferred stock)).  The proceeds from these dispositions totaled approximately $19.4 million. 

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Round 31 of TARP Capital Infusions – TARP Map and List of Recipients Updated

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.

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Round 30 of TARP Capital Infusions – TARP Map and List of Recipients Updated

On June 9, 2009, the Treasury announced the completion of the thirtieth round of TARP Capital infusions.  The Treasury purchased a total of approximately $40 million in securities from 3 financial institutions on Friday, June 5, 2009, and has now invested in 617 institutions, totaling approximately $199.4 billion.

First Trust Corporation, New Orleans, Louisiana, received the largest infusion, $18 million.  Covenant Financial Corporation, Clarksdale, Mississippi, received the smallest infusion, $5 million.

Of note in this round, OneFinancial Corporation of Little Rock, Arkansas, became the first institution to receive a TARP Capital investment under the expansion for small community banks. Under the expansion program, OneFinancial received an investment of $17.3 million (approximately 5% of its risk-weighted assets), while under the normal TARP Capital terms, OneFinancial would have only been eligible to receive approximately $10.4 million (3% of risk-weighted assets).

On June 3, 2009, two institutions redeemed securities from the Treasury: HF Financial Corp. and Valley National Bancorp.  HF Financial redeemed all of their TARP preferred stock for $25 million, while Valley National became the first institution to redeem only a portion of its preferred stock – $75 million of the $300 million original investment amount.  As of June 9, 2009, twenty-two institutions have re-paid approximately $1.9 billion, and Treasury’s outstanding investment equals approximately $197.5 billion.

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Round 29 of TARP Capital Infusions – TARP Map and List of Recipients Updated

On June 2, 2009, the Treasury announced the completion of the twenty-ninth round of TARP Capital infusions.  The Treasury purchased a total of approximately $89 million in securities from 8 financial institutions on Friday, May 29, 2009, and has now invested in 614 institutions, totaling approximately $199.4 billion.

Citizens Bancshares, Co., Chillicothe, Missouri, received the largest infusion, $24.9 million.  American Premier Bancorp, Arcadi, California, received the smallest infusion, $1.8 million.

On May 27, 2009, four institutions redeemed their securities from the Treasury: Washington Federal Inc. ($200 million), First Niagara Financial Group ($184 million), Berkshire Hills Bancorp ($40 million), and First Manitowoc Bancorp ($12 million).  As of May 27, 2009, twenty institutions have re-paid approximately $1.7 billion, and Treasury’s outstanding investment equals approximately $197.6 billion.

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