$40.3 Million in Bank Bailouts Heads to the South
Three banks in neighboring Arkansas, Mississippi and Louisiana received a total of $40.3 million as part of Treasury’s program to help "healthy banks." The $17.3 million for Little Rock’s OneFinancial is officially earmarked as part of Treasury’s month-old effort to expand bailout funds to small banks.
First Trust Corporation - $18 million
OneFinancial Corporation - $17.3 million
Covenant Financial Corporation - $5 million
The new infusion is dwarfed by the $68 billion that will soon return to Treasury’s coffers after yesterday’s announcement that ten large banks were approved to repay TARP.
As big banks return their TARP money, Fannie Mae and Freddie Mac continue to be a drain.
Latest Stories in this Project
Our Hottest Stories
- Big Investors Push for Auditors to Sign Financial Statements
- Q&A: What Can U.S. Health Care Learn from the Ebola Outbreak?
- Report: Drillers Illegally Using Diesel Fuel to Frack
- Government Will Withhold One-Third of the Records from Database of Physician Payments
- What to Look For In Dueling Autopsies of Michael Brown
- New York City Will Pay $10 Million to Settle Wrongful Conviction Case
- The Best Reporting on Federal Push to Militarize Local Police
- Q&A: The Hidden Costs of Tobacco Debt
- Pro-Troop Charity Shoots Back
- In California, Some Efforts to Toughen Oversight of Assisted Living Falter