WASHINGTON (TheStreet) -- The U.S Treasury Department announced on Wednesday that six more banks had repaid the government bailout money received through the Troubled Assets Relief Program, or TARP.
The six banks paid the government a total of $626 million. The Treasury also said that out of $389 billion disbursed through TARP, the government had received repayments of $235 billion plus dividends and other payments totaling $35 billion, for a grand total of $270 billion.
Banks repaying the government on Wednesday included:
- East West Bancorp (EWBC) of Pasadena, Calif. exited TARP by fully repaying the government $306.5 million plus dividends of $1.9 million.
- Webster Financial (WBS) of Waterbury, Conn. completed its TARP repayment by redeeming the $200 million in remaining preferred shares held by the government, plus dividends of $1.2 million. The company had previously repaid $100 million in march and another $100 million in October.
- 1st Source Corporation (SRCE) of South Bend, Ind. fully exited TARP, repaying the government $111 million, plus dividends of $678 thousand.
- Surrey Bancorp of Mount Airy, N.C. fully exited TARP, repaying the government $2 million plus dividends $12,222. The company also repurchased $100,000 in preferred shares the government obtained by exercising warrants, plus another $1,100 in dividends.
- Nationwide Bankshares of West Point, Neb. fully exited TARP, repaying the government $2 million plus dividends of $18,822. The company also repurchased $100,000 in preferred shares the government obtained by exercising warrants, plus another $1,687 in dividends.
- Haviland Bancshares of Haviland, Kan. repaid $425 thousand to fully exit TARP, plus $2,597 in dividends. The company also paid the government $21,000 to redeem preferred shares the Treasury had obtained by exercising warrants.
Philip van Doorn. To follow the writer on Twitter, go to http://twitter.com/PhilipvanDoorn. To submit a news tip, send an email to: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV