Treasury Invests $108 Million in 12 Banks — ProPublica

Treasury Invests $108 Million in 12 Banks

May 28, 2009, 2:07 p.m. EDT

Twelve more banks have joined the pool of bailed-out institutions, receiving $108 million from the Treasury's "healthy" bank program, the Capital Purchase Program. The money went mainly to small and mid-size banks in the Midwest, with Missouri's Diamond Bancorp and Kentucky's Commonwealth Bancshares leading the pack with $20 million each.

Recent TARP funding has primarily gone to these types of smaller banks, which are increasingly facing trouble as the recession continues, the New York Times reports today. While some larger banks are looking to join the growing number that have repaid TARP, those not considered "too big to fail" continue to face growing losses and uncertainty.

The new commitments announced yesterday (below) bring Treasury's investment to $206 billion in 587 banks around the country.

Commonwealth Bancshares: $20.4 million
Diamond Bancorp: $20.4 million
The Landrum Company: $15 million
United Bank Corporation: $14.4 million
Universal Bancorp: $9.9 million
Premier Financial Corp: $6.3 million
Illinois State Bancorp: $6.2 million
BlackRidge Financial: $5 million
Franklin Bancorp: $5 million
F & C Bancorp: $3 million
Fort Lee Federal Savings Bank: $1.3 million
First Advantage Bancshares: $1.2 million

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