Strong Banks Got Stronger in Rescue

The Treasury Department's investment in banks is looking more like a vote of confidence than a rescue operation.

On Monday, a host of regional banks unveiled some $34 billion in preferred equity investments made from the $700 billion bailout bill approved by Congress earlier this month.

Most of the headlines Monday focused on the larger regional banks receiving the bulk of the investments, but a closer look at some of the smaller banks getting help highlights some very strong institutions that didn't need new capital to survive, reassure depositors or expand lending activity.

Many troubled community banks had hoped, as the bailout took shape, that they would receive a piece of the bailout pie. ...