Four community banks announced Troubled Asset Relief Program redemptions Wednesday.
Hawthorn Bancshares (HWBK), a $1.2 billion-asset company in Jefferson City, Mo.,
The other three banks retired warrants they issued to the Treasury.
The $4.4 billion-asset TowneBank (TOWN) in Suffolk, Va., said Wednesday it had completed its exit from Tarp by paying $1.5 million to redeem a warrant it issued the Treasury in 2008 to purchase 554,330 shares of the companys common stock. In September 2011, the bank replaced the funds received through Tarp with $76.5 million from the Treasurys Small Business Lending Fund, which the government formed in 2010 to spur lending to small businesses by community banks.
The $1.7 billion-asset NewBridge Bancorp (NBBC) in Greensboro, S.C., paid $7.8 million to repurchase the Treasurys warrant to buy 2.6 million shares of its common stock. NewBridge issued $52 million of preferred stock to the Treasury through Tarp in December 2008. The Treasury
The $659 million-asset Guaranty Federal Bancshares (GFED) in Springfield, Mo., paid the Treasury just over $2 million to repurchase the warrant to buy 459,459 shares of common stock. Guaranty took $17 million in Tarp funds in January 2009 and repaid $5 million in June 2012. The Treasury