September 4, 2009
Authored by: Bryan Cave
During the month of August, the Treasury completed rounds thirty-eight, thirty-nine, forty, and forty-one of TARP Capital infusions. In these four rounds, which closed on August 7, August 14, August 21, and August 28, respectively, the Treasury purchased a total of approximately $130 million in securities from 9 financial institutions. Through August 2009, the Treasury had invested in 673 institutions, totaling approximately $204.5 billion.
In these four rounds, U.S. Century Bank, Miami, Florida, received the largest infusion, $50 million, and Bank Financial Services, Inc., received the smallest infusion, $1 million.
During August, three financial institutions re-paid their TARP capital investments: CVB Financial Corporation ($97.5 million (75% of the initial investment)), Bancorp Rhode Island, Inc. ($30 million), and State Bankshares, Inc. ($12.5 million (25% of the initial investment)). As of the end of August, 2009, 37 financial institutions had re-paid all, or some portion, of their TARP Capital investment, bringing the total amount re-paid to approximately $70.3 billion. At the end of August 2009, Treasury’s outstanding investment equaled approximately $134.2 billion.
Click here to view our updated TARP Map.
Click here to view our updated list of TARP Capital recipients ordered by state and a description of our methodology in compiling the list.