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15 Banks and 1 Insurance Company Get Bailout Funds

As the Wall Street Journal reported earlier this week, smaller banks have continued to line up for TARP funds in past weeks even as some of the biggest banks exit. The trend continues. Last Friday, 15 banks received a total of $226.2 million, and one large insurer, Hartford Financial Services, received $3.4 billion, according to a Treasury Department disclosure.

Hundreds more could receive funds. At least 300 banks are still awaiting a decision from regulators and Treasury on whether they will receive bailout funds, according to a report from the Government Accountability Office last month (PDF). So far, 614 financial institutions (excluding those that have returned their funds) have received a total of about $133 billion through Treasury's program for "healthy" banks (or insurance or credit card companies).

Here are this week's recipients, mostly community banks from various states across the country:

Hartford Financial Services $3.4 billion
Fidelity Resources Company $3 million
Waukesha Bankshares $5.6 million
FC Holdings $21 million
Security Capital Corporation $17.4 million
First Alliance Bancshares $3.4 million
Gulfstream Bancshares $7.5 million
Gold Canyon Bank $1.6 million
M&F Bancorp $11.7 million
Metropolitan Bank Group $71.5 million
NC Bancorp $6.9 million
Alliance Bancshares $3 million
Stearns Financial Services $24.9 million
Signature Bancshares $1.7 million
Fremont Bancorporation $35 million
Alliance Financial Services $12 million

 

 

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