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

Follow ProPublica

Most Read

Latest Stories from ProPublica

What ProPublica Is Doing About Diversity in 2024

I Moved to Rural New Mexico to Report on the Aftermath of a Massive Wildfire. My Neighbors Were My Best Sources.

Chevron Will Pay Record Fines for Oil Spills in California

Idaho Legislature Approves $2 Billion for Schools to Repair and Replace Aging Buildings

Republish This Story for Free

Creative Commons License (CC BY-NC-ND 3.0)

Thank you for your interest in republishing this story. You are are free to republish it so long as you do the following:

You have to credit ProPublica and any co-reporting partners. In the byline, we prefer “Author Name, Publication(s).” At the top of the text of your story, include a line that reads: “This story was originally published by ProPublica.” You must link the word “ProPublica” to the original URL of the story.
If you’re republishing online, you must link to the URL of this story on propublica.org, include all of the links from our story, including our newsletter sign up language and link, and use our PixelPing tag.
If you use canonical metadata, please use the ProPublica URL. For more information about canonical metadata, refer to this Google SEO link.
You can’t edit our material, except to reflect relative changes in time, location and editorial style. (For example, “yesterday” can be changed to “last week,” and “Portland, Ore.” to “Portland” or “here.”)
You cannot republish our photographs or illustrations without specific permission. Please contact [email protected].
It’s okay to put our stories on pages with ads, but not ads specifically sold against our stories. You can’t state or imply that donations to your organization support ProPublica’s work.
You can’t sell our material separately or syndicate it. This includes publishing or syndicating our work on platforms or apps such as Apple News, Google News, etc.
You can’t republish our material wholesale, or automatically; you need to select stories to be republished individually. (To inquire about syndication or licensing opportunities, contact [email protected].)
You can’t use our work to populate a website designed to improve rankings on search engines or solely to gain revenue from network-based advertisements.
We do not generally permit translation of our stories into another language.
Any website our stories appear on must include a prominent and effective way to contact you.
If you share republished stories on social media, we’d appreciate being tagged in your posts. We have official accounts for ProPublica on Twitter, Facebook and Instagram.

Copy and paste the following into your page to republish:

Current site Current page