10 Banks Returned $280 m in TARP funds to Treasury in December
We've been tracking, in minute and excruciating detail, the process through which America's banks have been paying back taxpayers for the "investments" (read: bailouts) they received in 2008 and 2009 through TARP. Updates can be seen here.
TARP returns continued to trickle in through December, with 10 banks returning nearly $280 million.
Here are the latest exits:
December 28:
Customers Bancorp of Phoenixville, Pennsylvania, exited by paying back $2.9 million and paid another $145,000 for preferred shares given to Treasury in lieu of warrants.
People's Bancorp of Marietta, Ohio, exited by paying back the remaining $18 million of the original $39 million it owed.
Mission Community Bancorp of San Luis Obispo, California, exited by paying back $5.116 million in preferred shares.
Stellar One Corporation, of Charlottesville, Virginia, paid back the remaining $22.5 million of the original $30 million Treasury investment.
Pinnacle Financial Partners of Nashville, Tennessee, paid back $23 million of the $95 million Treasury investment.
December 21:
First American Bank Corp., of Elk Grove Village, IL, paid back $15 million of the $35 million Treasury investment.
December 14:
State Bancorp, of Jericho, NY, exited by paying back $36.8 million to Treasury.
North Central Bancshares, of Ford Dodge, Iowa, exited by paying back $10.2 million to Treasury.
December 7
S&T Bancorp of Indiana, Pennsylvania, exited by paying back $108.7 million to Treasury.
Union First Market Bankshares Corporation, of Bowling Green, Virginia, exited by paying back $35.6 million.
Daniel Gross is economics editor at Yahoo! Finance
follow him on Twitter @grossdm; email him at grossdaniel11@yahoo.com
