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21 Banks Exit TARP, Paying Back $356 Million

We've been documenting how the advent of the Small Business Lending Fund has hastened the rate at which smaller banks are repayiing the TARP funds they took from Treasury in 2008 and 2009. Each week, anywhere from a dozen to a score of banks taps into Treasury's newest lending program to assist in their exit from an older Treasury lending program. Last week was no different.

By my count 21 banks paid back about $356 million. In addition, Treasury sold off warrants in SunTrust that it had been given for $30.5 million. 

The most recent TARP exiters were:

TowneBank, Porstmouth, VA: $76.5 million

Citizens South Banking Corp., Gastonia, GA: $20.5 million

Tri-County Financial Corp., Waldorf, MD: $15.45 million, plus $777,000 for preferred shares given Treasury in lieu of warrants

FCA Bancorp., Louisville, KY: $9.3 million, plus $465,000 for preferred shares given Treasury in lieu of warrants  

AMB Financial Corp., Munsler, IN: $3.74 million, plus $184,000 for preferred shares given Treasury in lieu of warrants

First Merchants Corp., Muncie, IN: $116 million

Security State Bancshares, Charleston, MO: $12.5 million, plus $625,000 for preferred shares given Treasury in lieu of warrants

Florida Business BancGroup, Tampa, FL: $9.5 million, plus $475,000 for preferred shares given Treasury in lieu of warrants

Columbine Capital Corp., Buena Vista, CO: $2.26 million, plus $113,000 for preferred shares given Treasury in lieu of warrants

Howard Bancorp, Elliott City, MD: $6 million, plus $300,000 for preferred shares given Treasury in lieu of warrants

The Victory Bancorp, Limerick, PA: $2.04 million, plus $61,000 for preferred shares given Treasury in lieu of warrants

Sovereign Bancshares, Dallas, TX: $18.2 million, plus $911,000 for preferred shares given Treasury in lieu of warrants

First Colebrook Bancorp, Colebrook, NH: $4.5 million, plus $225,000 for preferred shares given Treasury in lieu of warrants

Triad Bancorp, Inc., Frontenac, MO: $3.7 million, plus $185,000 for preferred shares given Treasury in lieu of warrants

Union Bank & Trust Company, Oxford, NC: $6.2 million, plus $160,000 for preferred shares given Treasury in lieu of warrants

Highlands Bancorp, Inc., Vernon, NJ: $5.5 million, plus $155,000 for preferred shares given Treasury in lieu of warrants

Illinois State Bancorp., Chicago, IL: $10.3 million, plus $$406,000 for preferred shares given Treasury in lieu of warrants

First Financial Bancshares, Lawrence, KS: $3.76 million, plus $113,000 for preferred shares given Treasury in lieu of warrants

First Guaranty Bancshares, Hammond, LA: $20.7 million, plus $1.03 million for preferred shares given Treasury in lieu of warrants

The State Bank of Bartley, Bartley, NE: $1.7 million, plus $51,000 for preferred shares given Treasury in lieu of warrants

Valley Financial Group, Ltd., 1st State Bank, Saginaw, MI: $1.3 million, plus $65,000 for preferred shares given Treasury in lieu of warrants

Daniel Gross is economics editor at Yahoo! Finance

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