Posts Tagged ‘TARP’

TARP recedes into banking history as all but two Mississippi banks have repaid rescue money

by Published: February 7,2014

Tags: banking, Business, finances, Mississippi, TARP

All but two Mississippi banks — both identified as small community lending institutions — have repaid the emergency capital received through the Treasury Department’s Troubled Asset Relief Program, or TARP. By shedding their TARP debt, Mississippi’s banks avoid a hardball provision of the loan program that requires institutions yet to fully repay the taxpayer-provided funds […] [...]

MBJ February 7th Digital Edition


Treasury to auction The Hartford warrants

by Published: September 20,2010

Tags: bailout, banking and finance, economy, recession, TARP

WASHINGTON — The Treasury Department announced it would auction 52 million warrants it holds from The Hartford Financial Services Group tomorrow. It is the latest effort to recoup costs of the $700 billion financial bailout. In its announcement today, Treasury set a minimum bid price of $10.50 per warrant. A warrant gives the purchaser the […] [...]

Renasant buys distressed Georgia bank

TUPELO — Renasant Corporation’s wholly-owned subsidiary, Renasant Bank, has acquired the banking operations of Crescent Bank and Trust of Jasper, Ga. in a Federal Deposit Insurance Corporation- (FDIC) assisted transaction. Under the terms of the transaction, Renasant Bank acquired approximately $1 billion in assets, including approximately $600 million of loans and other real estate and […] [...]

Treasury sells 2.6B shares of Citigroup

by Published: July 1,2010

Tags: banking and finance, TARP

WASHINGTON — The Treasury Department said today it has raised $10.5 billion from the sale of a total of 2.6 billion shares of Citigroup stock it received as part of the government’s rescue of the bank. The government sold the shares at a profit as it seeks to recoup the costs of the $700 billion […] [...]

Wicker wants probe of GM’s use of TARP funds

by Published: June 25,2010

Tags: automobile industry, bailout, Congress, recession, TARP

WASHINGTON—Yesterday, Sen. Roger Wicker (R-Miss.) introduced legislation to require the Government Accountability Office (GAO) to conduct a non-partisan, independent analysis of the propriety of federal financial assistance under the Troubled Asset Relief Program (TARP) provided to the General Motors Corporation and its treatment of certain Delphi retirees. Wicker voted against TARP in 2008. “The TARP […] [...]

Treasury prepares for Citigroup stock sale

by Published: April 26,2010

Tags: bailout, banking and finance, TARP

WASHINGTON — The Treasury Department said today that its first sales of Citigroup stock will cover up to 1.5 billion shares. That would amount to about 20 percent of the 7.7 billion shares of Citigroup common stock that the government owns. It received the shares as compensation for the massive support it extended to the […] [...]

PNC pays back $7.6B for TARP

by Published: February 11,2010

Tags: bailout, banking and finance, TARP

WASHINGTON — The U.S. Department of the Treasury received full repayment on its Troubled Asset Relief Program (TARP) investment in PNC Bank in the sum of $7.6 billion, bringing the total amount of repaid TARP funds to more than $173 billion. Treasury now estimates that total bank repayments and proceeds from sales of its common […] [...]

ECD/Hope to accept TARP funds

by Published: February 8,2010

Tags: bailout, banking and finance, recession, stimulus, TARP

JACKSON — On Feb. 4, Treasury Secretary Tim Geithner outlined the details of a new program under the Troubled Assets Relief Program (TARP) that will provide community development financial institutions (CDFIs) with up to $1 billion to make more loans to small businesses in some of the communities hit hardest by the economic crisis. ECD/HOPE […] [...]

Trustmark repurchases shares from Treasury

JACKSON — Trustmark Corporation has completed the repurchase of its 215,000 shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series A, from the U. S. Treasury Department at a purchase price of $215 million plus a final accrued dividend of $716.7 thousand. The preferred stock and a warrant to purchase 1,647,931 shares of common stock […] [...]

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