October 20, 2009

Bailout Activity Slows Down in October

Bailout activity appears to have slowed down considerably, with the federal government providing money to only two banks so far this month.

The Treasury Department, which reports weekly on activities connected to the Troubled Asset Relief Program, has not added any banks to its list of recipients since October 2.

Until this month, it has been rare for a week to go by without new banks joining the bailout program, and there has not been a single two-week period without such activity.

The two banks to receive assistance this month were West Virginia-based Premier Financial Bancorp, which received $22.2 million, and North Carolina-based Providence Bank, which received $4 million.

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This page contains a single entry by Avi Klein published on October 20, 2009 12:47 PM.

FDIC Shuts Down its 99th Bank of the Year was the previous entry in this blog.

Treasury Begins TARP Wind-Down is the next entry in this blog.

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