The Treasury Department on Tuesday released details surrounding the injection of $365.4 million in capital into another 23 financial institutions across the nation, bringing the total investments made through the Capital Purchase Program to $196.36 billion. All but three of the institutions that participated Friday were privately-held firms; 55.2 percent of the funds distributed that day were given to private firms. One Arkansas-based firm participated, as did a bank based in Alabama, four based in California and one out of Florida. Three Georgia-based firms participated, as well as two from Illinois, one from Indiana, one from Minnesota and one from Missouri. Two firms based in Mississippi received capital infusions, as did one in New Hampshire, two in Pennsylvania, one in Texas and one in Wisconsin. The second Wyoming-based bank to participate in the CPP — Buffalo, Wyo.-based Crazy Woman Creek Bancorp. Inc. — received $3.1 million. The smallest transaction of the day was the $2.06 million infusion given to Market Bancorporation Inc. out of New Market, Minn., while the largest investment — $116 million — was made in Munice, Ind.-based First Merchants Corp. (FRME). The Treasury had on Feb. 13 invested $429.07 million in 29 firms; it also made its first investment in a Wyoming-based firm, privately-held Financial Security Corp. On Feb. 6 it injected $238.55 million in capital into 28 firms. The Treasury made its first investment in an Alaska-based firm on Feb. 6; it also made the smallest investment transaction on that date, when it injected $310,000 into Harper, Kan.-based The Freeport State Bank, a privately-traded firm. On Feb. 17, the Treasury completed another $4 billion investment in General Motors Corp. (GM) through the Automotive Industry Financing Program, which had previously been scheduled for that day before the company submitted to the government its restructuring plan, which called for some $16.6 billion in additional government aid. All told, the TARP had dispensed — and promised — a total $326.15 billion as of Friday through its various programs, including the Targeted Investment Program, the Systemically Significant Failing Institutions program, the Asset Guarantee Program and the Treasury’s $20 billion share of the Fed’s Term Asset Backed Securities Lending Facility, which was announced but not yet funded. HousingWire recently looked into the specifics of the TARP’s many investments, which will be featured in the upcoming March issue of the magazine, set to hit mailboxes next week. Don’t forget to subscribe. Visit www.ustreas.gov for further details on the TARP. Write to Diana Golobay at firstname.lastname@example.org. Disclosure: The author held no relevant investment positions when this story was published. Indirect holdings may exist via mutual fund investments. HW reporters and writers follow a strict disclosure policy, the first in the mortgage trade.
TARP Invests Another $365M in Capital
Most Popular Articles
Opinion: ADU buyers are adjusting to new landscape HW+
Even in a tight market, attracting new talent to your real estate business is always necessary. The key is attracting the right people with a passion for the job, experience and innovative ideas. At Gathering of Eagles 2023, attendees will get fresh ideas that go beyond price and business model. The panel, “The Law of […]