US Treasury Announces Six Cos Repay TARP Funds
December 22 2010 - 4:32PM
Dow Jones News
The U.S. Treasury Department announced six financial firms
repaid funds they received in the government's Wall Street bailout,
delivering about $2.7 billion to taxpayers.
Through the Troubled Asset Relief Program, created in 2008,
Treasury provided capital to banks and other financial companies
sent reeling by the financial crisis.
As the economy recovers, companies that took TARP money have
been making repayments and even delivering accrued dividends.
Treasury disbursed $389 billion in TARP money. On Wednesday it
said repayments along with investment income, including dividends
and interest, total $269 billion.
The $2.7 billion figure includes repayments and dividends. On
Wednesday, Treasury said Huntington Bancshares (HBAN), of Columbus
Ohio, repurchased $1.4 billion in TARP investments and paid $7.2
million in dividends.
First Horizon National Corp. (FHN), of Memphis, Tenn.,
repurchased $866.5 million in TARP investments and paid $4.5
million in dividends.
Wintrust Financial Corp. (WTFC), of Lake Forest, Ill.,
repurchased $250.0 million and paid $1.3 million in dividends.
Susquehanna Bancshares Inc. (SUSQ), of Lititz, Pa., repurchased
$100.0 million and paid $513,889 in dividends.
Heritage Financial Corp. (HFWA), of Olympia, Wa., repurchased
$24.0 million and paid $123,333 in dividends.
The Bank of Kentucky Financial Corp. (BKWF), of Crestview Hills,
Ky., repurchased $17 million and paid $87,361 in dividends.
-By Jeff Bater, Dow Jones Newswires; 202 862 9249; jeff.bater@dowjones.com
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