TARPed Bank Report: End of '10 Housekeeping
January 04, 2011
– Comments (200)
Appears to have been a mad scramble to get out from under TARP at the end of 2010. The following banks repurchased their TARP preferred during the last quarter of 2010. Banks in bold were TARPedBanks picks and have had an 'end pick' entered. The other banks weren't ratable in CAPS (or I might have missed them) because they're too small or not publicly traded.
First Horizon National Corporation
Webster Financial Corporation
Heritage Financial Corporation
First PacTrust Bancorp, Inc.
Sandy Spring Bancorp, Inc.
East West Bancorp
South Financial Group, Inc.
TIB Financial Corp
Susquehanna Bancshares, Inc
Security Federal Corporation
Wintrust Financial Corporation
1st Constitution Bancorp
Central Jersey Bancorp
Leader Bancorp, Inc.
Capital Bancorp, Inc.
Surrey Bancorp
Community Bank of the Bay
1st Source Corporation
California Oaks State Bank
The First Bancshares, Inc.
Liberty Financial Services, Inc.
The Bank of Currituck
State Capital Corporation
First Choice Bank
Lafayette Bancorp, Inc.
BancPlus Corporation
First M&F Corporation
PSB Financial Corporation
Haviland Bancshares, Inc.
Frontier Bancshares, Inc.
IBC Bancorp, Inc.
First Vernon Bancshares, Inc.
Security Capital Corporation
Signature Bancshares, Inc.
Community Bancshares of Mississippi, Inc.
First Eagle Bancshares, Inc.
Nationwide Bankshares, Inc.
General Motors (GM) has been re-picked now that it's public again. The pick will be closed when Treasury completes the sale of its GM securities.
For those interested, the player rating is 0.02 and ranking is 72285 out of 72321
Not much else to report. As noted in the last update, even though Treasury has completed selling TARP's Citigroup common stock, the FDIC still holds some preferred as a result of a loan backstop. The pick will be ended when the FDIC stuff is repurchased. TARP also holds some Citi warrants - those will either end up being repurchased by Citi or auctioned to the public.
I have a favor to ask.
There are only a few days left in Foolanthropy and I suspect we're well short of what's needed to earn TMF's full pledge. If you've enjoyed the TARPedBanks saga, or even if you haven't, please post a couple of comments here or on any other Fool blog, article or board and ring a ten-cent cha-ching to help the kids at Thurgood Marshall Academy in DC.
Fool on!
Russ (ak rd80)
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