Treasury invests in 10 more banks

The Treasury Department has completed investments in 10 more banks, tapping $54.9 million in funds from the Troubled Asset Relief Program.

All 10 were new to BailoutSleuth's running tally of banks that have received taxpayer capital through TARP. The total is now approaching 550 institutions.

Community First Bancshares Inc., of Harrison, Ark., sold $12.7 million in preferred stock to the government. Community First is a privately held company, as were most of the other banks that got TARP money in the latest round of deals.

First Capital Bancorp Inc., Glen Ellen, Va., got just under $11 million in taxpayer capital. It completed its stock sale on April 3. That same day, First Capital announced that it had agreed to be acquired by Eastern Virginia Bankshares Inc., in a deal valued at $27 million.

Eastern Virginia Bankshares is based in Tappahannock. It got $24 million in TARP money in January.

First Capital's earnings slumped last year with the economy. It had profits of $170,000, down more than 90 percent from 2007. It attributed the decline mainly to higher provisions for loan losses.

Two Missouri banks got TARP money in the latest round of government investments. BancStar Inc., of Festus, got $8.6 million, while Fortune Financial Corp., of Arnold, got $3.1 million.

Millennium Bancorp, of Edwards, Colo., got $7.26 million. It primarily serves ski areas on the western slope of the Rocky Mountains.

The other banks and holding companies getting TARP money were:

Prairie Bancshares Inc. (Olathe, Kan.) -- $2.80 million

Tri-State Bank of Memphis (Memphis, Tenn.) -- $2.79 million

TriSummit Bank (Kingsport, Tenn.) -- $2.76 million

Titonka Bancshares Inc. (Titonka, Iowa) -- $2.12 million

BCB Holding Co. (Theodore, Ala.) -- $1.71 million