Daniel Gross

More TARP Returns: NHTB, People’s, First Express Return $7.2 Million

Contrary Indicator

Smaller banks continue to exit the TARP program.  Last week, Treasury reported that three small institutions formally exited the rescue programs by repurchasing shares and/or warrants they had given to Treasury in exchange for 2009 investments. The most recent TARP exits came on February 15:

New Hampshire Thrift Bancshares paid $737,000 to buy back warrants it had granted Treasury.

People's Bancorp, based in Marietta, Ohio, paid $1.2 million to buy back warrants it had granted Treasury.

First Express of Nebraska, based in Gering, NE, bought back the $5 million in preferred shares Treasury had purchased and then paid another $250,000 for preferred shares granted Treasury in lieu of warrants.

In total, the three institutions returned about $7.2 million to Treasury.

Daniel Gross is economics editor at Yahoo! Finance

Follow him on Twitter @grossdm; email him at grossdaniel11@yahoo.com

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