Bailout: $92 Million Goes to Six Banks
Community banks continue to line up for TARP funds. Last Friday, six more community banks (see the list below) received a total of $91.6 million. Excluding the 33 banks that have returned their money, 620 companies have received a total of $134.1 billion through Treasury's program to boost the economy by doling out money to banks, insurance companies, and credit card companies.
Four more mortgage servicers also signed up for the administration's foreclosure relief program. The Treasury has promised to spend $50 billion on that program, and so far it's set aside $18.8 billion for the 31 participating servicers. However, as we noted a couple of weeks ago, some major servicers have still not joined up.
The new banks:
| Brotherhood Bancshares, Inc. | $11 million |
| SouthCrest Financial Group, Inc. | $12.9 million |
| Harbor Bankshares Corporation | $6.8 million |
| First South Bancorp, Inc. | $50 million |
| Great River Holding Company | $8.4 million |
| Plato Holdings Inc. | $2.5 million |
As big banks return their TARP money, Fannie Mae and Freddie Mac continue to be a drain.
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