It's been three years since the passage of TARP, and the stragglers are continuing to exit — slowly. In recent weeks, we've seen a rash of dozens of small banks repurchasing the preferred shares sold to Treasury, with many of them relying on the Small Business Lending Fund. Now some of those banks are starting to repurchase the warrants they gave Treasury.
The latest TARP returns (full document can be seen here)
Oak Valley Bancorp, Oakdale, CA: repurchased warrants for $560,000
Heartland Financial, Dubuque, IA: repurchased warrants for $1.8 million
Mutual First Financial, Muncie, IN: repurchased warrants for $900,194
Codorus Valley Bancorp, York, PA: repurchased warrants for $526,604
Central Valley Community Bancorp, Fresno, CA: repurchased warrants for $185,017
First South Bancorp, Lexington, TN: partial repayment of $13.125 million for preferred shares