$39.1 Million Goes to 7 Banks

June 17, 2009, 11:50 a.m. EDT

Your TARP bank update this week: Seven small banks from Pennsylvania, Alabama, Virginia, Kansas and Wisconsin joined the hundreds of other banks that have taken money through the Capital Purchase Program. A total of $39.1 million went to:

Berkshire Bancorp $2.9 million
First Vernon Bancshares $6 million
SouthFirst Bancshares $2.8 million
Virginia Company Bank $4.7 million
Enterprise Financial Services Group $4 million
First Financial Bancshares $3.8 million
River Valley Bancorporation $15 million

All told, Treasury has invested nearly $130 billion in 588 financial institutions through this program for "healthy" banks (that total leaves out banks that have returned their money or have been approved to return it), but over the past several weeks, only a small handful of community banks have been joining each week.

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