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Treasury Anticipates $62 Million in Proceeds from Auction of Bank Preferred Stock
Nov 26 - The Treasury Department anticipates $62 million in proceeds from pricing of auctions this week of preferred stock of 15 financial institutions. The companies and gross proceeds are:
- Alaska Pacific Bancshares Inc., Juneau, $4,267,568.
- Bank of Commerce, Charlotte, N.C., $2,627,100.
- Carolina Trust Bank, Lincolnton, N.C., $3,412,000.
- CBB Bancorp, Cartersville, Ga., $4,232,613.
- Clover Community Bancshares Inc., Clover, S.C., $2,757,721.
- Community Bancshares of Mississippi Inc., Brandon, $1,052,750.
- Community Business Bank, West Sacramento, Calif., $3,909,595.
- Corning Savings and Loan Association, Corning, Ark., $577,640.
- Country Bank Shares Inc., Milford, Neb., $7,283,197.
- FFW Corporation, Wabash, Ind., $6,943,418.
- Hometown Bancshares Inc., Corbin, Ky., $1,886,605.
- KS Bancorp Inc., Smithfi eld N.C., $3,473,400.
- Layton Park Financial Group Inc., West Allis, Wis., $2,500,305.
- Parke Bancorp Inc., Sewell, N.J., $11,712,864.
- TriSummit Bank, Kingsport, Tenn., $5,377,425.
Including the expected proceeds from these transactions, Treasury has now recovered $267 billion from TARP’s bank programs through repayments, dividends, interest and other income — compared to the $245 billion initially invested.