The U.S. Treasury Department made another announced regarding more TARP funds being disbursed to needy banks.  This week’s allocation was for a $15 billion investment in 7 banks.  The investments are made through the Capital Purchase Program which is part of the TARP, Troubled Asset Relief Program.

Per the Treasury’s press release, to date, the Department has made $177.5 billion of investments, receiving preferred stock and warrants from participating institutions. Investments have ranged from as small as $1.5 million to as large as $25 billion, financing community banking and Community Development Financial Institutions in 41 states and Puerto Rico.

Institutions that sell shares to the government must comply with restrictions on executive compensation during the period that Treasury holds equity issued through this program and agree to limitations on dividends and stock repurchases.

On December 31, 2008 the following funds were disbursed, or invested or….

SunTrust Banks, Inc. Atlanta GA   $1,350,000,000.
The PNC Financial Services Group Inc. Pittsburgh PA   $7,579,200,000.
Fifth Third Bancorp Cincinnati OH   $3,408,000,000.
Hampton Roads Bankshares, Inc. Norfolk VA   $80,347,000.
CIT Group Inc. New York NY   $2,330,000,000.
West Bancorporation, Inc. West Des Moines IA   $36,000,000.
First Banks, Inc. Clayton MO   $295,400,000.

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