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The Treasury Department said that 218 banks remain in the Trouble Asset Relief Program's Capital Purchase Program, and that it expects to sell its stakes in roughly 144 banks in 2013.
December 19 -
The Treasury Department plans to sell its stake in eight more institutions as it seeks to continuing winding down the 5-year-old Troubled Asset Relief Program.
July 3 -
The Treasury Department plans to sell its stake in eight more institutions as it seeks to continuing winding down the 5-year-old Troubled Asset Relief Program.
July 3 -
First Banks, a $6.5 billion-asset company, posted third-quarter earnings of $8.5 million, compared with a net loss of $2.1 million a year earlier.
October 29
The Treasury Department plans to sell shares in five community banks for a discount of approximately 60%.
The Treasury will receive $129.1 million for preferred and subordinated shares that it obtained in the banks in exchange for $320.8 million of Troubled Asset Relief Program aid. The auction is expected to take place on Aug. 12; the pricing was announced Friday.
The largest stake the Treasury plans to sell is 298,501 preferred shares of First Banks in Clayton, Mo., for which it has received bids worth $107.7 million. The Treasury paid $295.4 million for First Banks' shares in December 2008.
The Treasury will keep approximately 11,800 of First Bank's preferred shares for which it did not receive bids above the minimum price. The Treasury sets minimum auction prices to protect the taxpayers' interests, it said.
The second-largest stake to be auctioned is $9.9 million of shares in Universal Bancorp in Bloomfield, Ind., for which Treasury expects to receive approximately par.
It will also receive $3.4 million for its shares of First Intercontinental Bank in Doraville, Ga., for which it paid $6.4 million; $5 million for shares in Community Pride Bank Corp. in Ham Lake, Minn., for which it paid $4.4 million; and $3 million for its shares of Virginia Company Bank in Newport News, Va., for which it paid $4.7 million.
The auction is part of the