May 21, 2009
Authored by: Bryan Cave
On May 19, 2009, the Treasury announced the completion of the twenty-seventh round of TARP Capital infusions. The Treasury purchased a total of approximately $108 million in securities from 14 financial institutions on Friday, May 15, 2009, and has now invested in 594 institutions, totaling approximately $199.2 billion.
Mercantile Bank Corporation, Grand Rapids, Michigan, received the largest infusion, $21.0 million. Riverside Bancshares, Inc., Little Rock, Arkansas, received the smallest infusion, $1.1 million.
On May 13, 2009, Alliance Financial Corp. and Texas Capital Bancshares, Inc. redeemed their securities from the Treasury for $125 million and $75 million, respectively. To date, fourteen institutions have re-paid approximately $1.3 billion, and Treasury’s outstanding investment equals approximately $197.9 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.