Daniel Gross

Twenty Two More Banks Exit TARP by. . . Borrowing from Another Government Program

 

We've documented, here and here, the way many of the smallish banks that took TARP money back in 2008 and 2009 are now repaying Treasury borrowings by borrowing from another government lending program, the Small Business Lending Fund.

The process is continuing.

On August 11, nine banks paid back a total of $88.74 million with the help of the SBLF. They were:

AmeriServ Financial, Inc, Johnston Pennsylvania, $21 million

Puget Sound Bank, Bellevue, Washington, $4.5 million, plus $225,000 for preferred stock granted Treasury in lieu of warrants

Community Partners Bancorp, Middletown, NJ, $9 million

Equity Bancshares, Inc., Wichita, KS $8.75 million, plus $438,000 for preferred stock granted Treasury in lieu of warrants

UBT Bancshares, Inc., $8.95 million, plus $450,000 for preferred stock granted Treasury in lieu of warrants

Monument Bank, Bethesda, MD , $4.734 million, plus $230,000 in preferred for preferred stock granted Treasury in lieu of warrants

SBT Bancorp, Inc., $4 million, plus $200,000 for preferred stock granted Treasury in lieu of warrants

Heritage Bankshares, Norfolk, VA, $7.497, plus $303,000 for preferred stock granted Treasury in lieu of warrants

Oak Valley Bancorp, Oakdale, CA, $13.5 million

On August 18, 13 banks paid back a total of about $199 million with the help of the SBLF

Great Southern Bancorp, Springfield, MO, $58 million

Emclaire Financial, Emlenton, PAn $7.5 million

Manga Bank, Memphis, TN, $6.885 m plus $600,000 for preferred stock granted Treasury in lieu of warrants

Codorus Valley Bancorp, York, PA, $16.5 million

Redwood Financial, Redwood Falls, MN, $2.995 million plus $180,000 for preferred stock granted Treasury in lieu of warrants

Central Valley Community Bancorp, Fresno, CA, $7 million

Katahdin Bankshares Corp. Houlton, ME $10.449 million plus $522,000 for preferred stock granted Treasury in lieu of warrants

Liberty Banchshares, Springfield, MO, $21.9 million, plus $1.095 million for preferred stock granted Treasury in lieu of warrants

Community First Bancshares, Union, City, TN, $20 million, plus $1 million in preferred stock granted Treasury in lieu of warrants

The Landrum Cmopany, Columbia, MO, $15 m plus $750,000 for preferred stock granted Treasury in lieu of warrants

Gulfstream Bancshares, Stuart, FL, $7.5 million, plus $375,000 for preferred stock granted Treasury in lieu of warrants

Bancorp Financial, Oak Brook, IL, $13.669 million plus $410,000 for preferred stock granted Treasury in lieu of warrants

McLeod Bancshares, Shorewood, MN, $6 million plus $300,000 for preferred stock granted Treasury in lieu of warrants

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