As Europe continues to work on deals to bail out its own banks from their ill-fated investments in Greek government debt, the (not sufficiently) chastened U.S. banking system continues to unwind the 2008-2009 bailouts. On Friday, Treasury reported that four banks exited TARP by paying back the shares Treasury had purchased, while a fifth paid back a small portion of what it owed. All in, about $100 million came back into federal coffers late last week.
Home Bancshares paid back $50 million.
Community Trust Financial Corp. paid back $24 million, plus $1.2 milion for additional preferred shares.
MidWest One Financial Group paid back $16 million
Central Bancshares paid back $5.8 miillion plus $290,000 for additional preferred shares.
Beach Business Bank paid $1.5 million of the $6 million it owes Treasury.
Daniel Gross is economics editor at Yahoo! Finance
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- Daniel Gross