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Treasury Provides $80.7M To 10 Banks From Bailout

Stock quotes in this article: FBSI , HEOP  

By MARTIN CRUTSINGER

WASHINGTON (AP) — The government said Tuesday it has provided $80.7 million to 10 banks in the latest payments from the $700 billion financial rescue fund.

The Treasury Department said it has spent $198.58 billion under a program to buy banks' preferred stock in an effort to bolster their balance sheets.

Among the latest recipients, Heritage Oaks Bancorp of Paso Robles, Calif., got $21 million and Community First Bancshares Inc. of Union City, Tenn., received $20 million. ...

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