Round Two of TARP Capital Injections

November 17, 2008

Authored by: Robert Klingler

On November 17, 2008, the Treasury published an updated Transaction Report, showing 21 new TARP Capital transactions that closed on November 14, 2008, bringing the total number of completed transactions to 30, with a total outlay of $146.8 billion (exclusive of the settlement of Merrill Lynch’s investment of $10 billion, which is pending its merger with Bank of America).

The second round includes many of the nation’s next largest banks, including BB&T, Capital One, Comerica, First Tennessee, Huntington, KeyBank, M&I, Northern Trust, Regions, SunTrust, U.S. Bancorp, and Zions.

The second round also included some smaller community banks:

  • Bank of Commerce Holdings (Redding, California) is the parent holding company of Redding Bank of Commerce, Roseville Bank of Commerce, Sutter Bank of Commerce, and Bank of Commerce Mortgage, with total assets of $618 million as of December 31, 2007.  Bank of Commerce Holdings is traded on the NASDAQ Global Market under the trading symbol BOCH.
  • 1st Financial Services Corporation (Hendersonville, North Carolina) is the parent holding company of Mountain 1st Bank & Trust Company, with total assets of $606 million as of December 31, 2007.  1st Financial Services Corporation is traded on the NASDAQ Over-the-Counter Bulletin Board under the trading symbol FFIS.
  • Broadway Financial Corporation (Los Angeles, California) is the parent holding company of Broadway Federal Savings and Loan Association, with total assets of $357 million as of December 31, 2007.  Broadway Financial Corporation is traded on the NASDAQ Capital Market under the trading symbol BYFC.