Round 9 of TARP Capital Infusions

January 13, 2009

Authored by: Bryan Cave

On January 13, 2009, the Treasury announced the completion of the ninth round of TARP Capital infusions.  The Treasury purchased a total of approximately $4.7 billion in securities from 42 financial institutions on Friday, January 9, 2009, and has now invested in 257 institutions, totaling $192.3 billion. 

The largest infusion went to American Express Corporation: $3.4 billion.  The smallest infusion went to Independence Bank of East Greenwich, Rhode Island: $1.07 million.

Of note in this ninth round, the first Hawaii-based financial institution received a TARP Capital infusion.  Central Pacific Financial Corp, of Honolulu, Hawaii, received $135 million.  In total, 42 states and 1 U.S. territory are home to institutions that have received TARP Capital infusions.

Also of note in this ninth round, Bank of America Corp. is listed as receiving $10 billion in TARP Capital; however, this sum was already accounted for in the first round as an investment in Merrill Lynch & Co.  The actual disbursement of the $10 billion was delayed until the successful closing of the Bank of America and Merrill Lynch merger, which occurred on January 1, 2009.