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The Treasury Department is planning a new strategy to recoup its Tarp investments: auctioning off outstanding preferred stock in six banks. The six are: Banner of Walla Walla, Wash.; First Financial of Charleston, S.C.; MainSource of Greensburg, Ind.; Seacoast in Stuart, Fla.; Wilshire in Los Angeles; and WSFS in Wilmington, Del.
March 14
Regulators have lifted an informal agreement with the banking unit of MainSource Financial Group (MSFG) in Greensburg, Ind.
The April 2010 agreement with the Federal Deposit Insurance Corp. and the Indiana Department of Financial Institutions required the $2.7 billion-asset MainSource Bank to maintain a Tier 1 leverage ratio of at least 8% and a total risk-based capital ratio of at least 11%. It also required the bank to obtain approval to pay dividends, MainSource said in a regulatory filing Monday.
At Dec. 31, MainSource Bank's core capital leverage ratio was 10.33% and its total risk-based capital ratio was 18.12%, according to FDIC data.
The Treasury Department said earlier this month that it plans to
