In addition to our regularly updated map of TARP Capital recipients, BankBryanCave.com will now also be regularly updating a list of TARP Capital recipients sorted by state. We believe this listing (a) shows how the TARP Capital is being distributed across the county, and not just to “Wall Street” and (b) allows community bankers to reference other community banks in their geographic area for an understanding of how the TARP Capital program is really affecting similarly-situated banks.
We have used the location of the headquarters for the bank or bank holding companies that have received TARP Capital to sort by state. While there are a couple short-comings of this methodology (namely ignoring that many regional and national banks operate in multiple states and that bank holding companies may have multiple bank subsidiaries), we believe this approach does a great job of showing the diversity of recipients and accurately reflects, on an aggregate basis, where the TARP Capital is being distributed. (Note: the accuracy is significantly diminished when looking at dollars invested because the shortcomings are most significant with the largest banks, and the size of the investments in these banks distort any aggregate analysis.)
A few observations on the TARP Capital investments made through February 6, 2009 (the latest publicly released data as of the posting of this analysis):
- California has the most TARP Capital recipients, with 54. This represents almost 20% of the charters based in California.
- North Carolina had the second most TARP Capital recipients, with 24. As a percentage of bank charters, North Carolina was first with almost 25% of the North Carolina banks having received TARP Capital.
- Other states with over 10% of charters having received TARP Capital (# of recipients in parentheses): Alaska (1), Hawaii (1), Idaho (3), Maryland (15), Maine (4), New Jersey (15), New York (19), South Carolina (9), Virginia (20) and Washington (13).
- South Carolina (9) and Tennessee (10) have as many TARP recipients as Georgia (9) and Florida (10) despite having over 300 fewer total bank charters.