April 6, 2009
Authored by: Bryan Cave
On March 30, 2009, the Treasury announced the completion of the twentieth round of TARP Capital infusions. The Treasury purchased a total of approximately $193 million in securities from 14 financial institutions on Friday, March 27, 2009, and has now invested in 533 institutions, totaling approximately $198.8 billion.
Of note in this twentieth round, one more state joined the group of states with an institution receiving TARP Capital — New Mexico, with Trinity Capital Corporation (Los Alamos) receiving a $36 million infusion. This leaves only Montana and Vermont without an institution to have received TARP Capital.
In this round, the largest infusion went to Alpine Banks of Colorado, Glenwood Springs, Colorado: $70 million. The smallest infusion went to Colonial American Bank, West Conshohocken, Pennsylvania: $574,000.
This round showed a slight uptick in the number of institutions to receive funding: from 10 in the previous round to 14 in this round. Nonetheless, the 14 infusions is the third fewest behind 7 in the eighth round and 10 in the nineteenth round. According to a recent GAO report, Treasury is considering approximately 1,190 applications from Qualified Financial Institutions, and the federal banking regulators were still reviewing approximately 750 applications that have yet to be either denied or forwarded to Treasury for final approval. This report further indicated that approximately 250 institutions that had received preliminary approval had decided to withdraw their applications.
Click here to view our updated TARP Map.
Click here to view our updated list of TARP Capital recipients and a description of our methodology in compiling the list.