Treasury completes more bank investments

The Treasury Department completed investments in seven more banks, all of them privately held.

The latest deals used roughly $42 million of the $700 billion allocated for the Troubled Asset Relief Program.

Sword Financial Corp., of Horicon, Wis., got the biggest portion of the money. The parent company of Horicon Bank sold $13.6 million in subordinated debentures to the Treasury Department. The government has been buying debentures instead of preferred stock in certain types of banks participating in the TARP initiative.

Premier Bancorp Inc., of Wilmette, Ill., got $6.78 million, while Gateway Bancshares Inc., of Ringgold, Ga., got $6.0 million. The government bought debentures from Premier and preferred stock from Gateway.

One Georgia Bank, of Atlanta, got $5.5 million in taxpayer capital. Investors Financial Corporation of Pettis County Inc., based in Sedalia, Mo., got $4.0 million and Highlands State Bank, of Vernon, N.J., got $3.09 million

Freeport Bancshares Inc., of Freeport, Ill., sold $3.0 million in  debentures to the government.