Three additional banks have won approval to join the federal government's bailout program, according to the Treasury Department's recently released update of participating institutions.
Indiana-based Fidelity Federal Bancorp received $6.6 million in assistance, in exchange for which it gave Treasury an equal value of preferred stock and warrants.
Community Pride Bancorp of Minnesota was also approved to join the Troubled Asset Relief Program, taking home $4.4 million in taxpayer assistance. It gave the Treasury subordinated debentures and warrants in trade.
Illinois-based HPK Financial Corp. received $5 million in aid, for which it gave the Treasury stock and warrants. The announcement marked the company's second round of bailout finding, having asked for and received $4 million in May of this year.
Since the bailout program began, the Treasury Department has extended $204.6 billion in aid to the nation's financial industry. Of that, $70.8 billion has been returned by banks eager to escape the program's regulatory strictures, making the government total current investment $133.8 billion.
0 Comments
Leave a comment