Full text of Dividends and Interest Report : Cumulative Dividends, Interest and Distributions Report as of July 31, 2019 : PDF

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U.S. Department of the Treasury, Office of Financial Stability, published on 8/12/2019. This copy of the report is subject to the terms and conditions of download as stated at http://www.treasury.gov/initiatives/financial-stability/reports/Pages/default.aspx. The official version from the U.S.
Department of the Treasury, Office of Financial Stability is available as a PDF file at http://www.treasury.gov/initiatives/financial-stability/reports/Pages/Dividends-and-Interest-Reports.aspx
Cumulative Dividends, Interest and Distributions Report as of July 31, 2019
Total July Payments:
Program

Total Life-to-Date Payments:

$0

Institution

Instrument Type

Notes

Expected
Payment Date
N/A

$162,061,950

Interest

Payment
Frequency
N/A

Interest

Quarterly

N/A

N/A

$31,574

8/15/2019

1g

Interest

N/A

N/A

N/A

$690,172

N/A

1g, 42

Dividend - Non Cumulative

N/A

N/A

N/A

$630,202

N/A

1g

Interest

N/A

N/A

N/A

$423,117

N/A

Interest

Quarterly

N/A

N/A

$609,482

8/15/2019

Subordinated Debentures

167

Interest

Quarterly

N/A

N/A

$236,057

8/15/2019

EAST END BAPTIST TABERNACLE FEDERAL CREDIT UNION

Subordinated Debentures

177

Interest

N/A

N/A

N/A

$1,120

N/A

EPISCOPAL COMMUNITY FEDERAL CREDIT UNION

Subordinated Debentures

1g

Interest

N/A

N/A

N/A

$15,067

N/A

N/A

N/A

$2,825,476

N/A

N/A

N/A

$783,123

N/A

N/A

$953,720

N/A

N/A

$1,896,706

N/A

N/A

$46,434

N/A

30

Payment Type

Actual Payment
Date
N/A

Payment This
Month

Life-To-Date
Payments
$143,526,108

Next Scheduled
Payment Date
N/A

AIFP

MOTORS LIQUIDATION COMPANY (OLD GM)

Debt Obligation with Additional Note

CDCI

BUFFALO COOPERATIVE FEDERAL CREDIT UNION

Subordinated Debentures

CDCI

CARTER FEDERAL CREDIT UNION

Subordinated Debentures

CDCI

COMMUNITY BANK OF THE BAY

Preferred Stock

CDCI

COMMUNITY FIRST GUAM FEDERAL CREDIT UNION

Subordinated Debentures

CDCI

COOPERATIVE CENTER FEDERAL CREDIT UNION

Subordinated Debentures

CDCI

D.C. FEDERAL CREDIT UNION

CDCI
CDCI
CDCI

FIRST AMERICAN INTERNATIONAL CORP.

Preferred Stock

1g, 42

Dividend - Cumulative

N/A

CDCI

FIRST VERNON BANCSHARES, INC.

Preferred Stock

42, 148

Dividend - Cumulative

N/A

CDCI

HOPE FEDERAL CREDIT UNION

Subordinated Debentures

Interest

N/A

N/A

CDCI

IBC BANCORP, INC.

Subordinated Debentures

1g, 42

Interest

N/A

N/A

CDCI

LIBERTY COUNTY TEACHERS FEDERAL CREDIT UNION

Subordinated Debentures

1b

Interest

N/A

N/A

CDCI

NEIGHBORHOOD TRUST FEDERAL CREDIT UNION

Subordinated Debentures

Interest

N/A

N/A

N/A

$53,183

N/A

CDCI

NORTH SIDE COMMUNITY FEDERAL CREDIT UNION

Subordinated Debentures

Interest

Quarterly

N/A

N/A

$70,363

8/15/2019

CDCI

NORTHEAST COMMUNITY FEDERAL CREDIT UNION

Subordinated Debentures

1g

Interest

N/A

N/A

N/A

$54,036

N/A

CDCI

OPPORTUNITIES CREDIT UNION

Subordinated Debentures

1g

Interest

N/A

N/A

N/A

$175,651

N/A

CDCI

TRI-STATE BANK OF MEMPHIS

Preferred Stock

42

Dividend - Non Cumulative

N/A

N/A

N/A

$241,008

N/A

CDCI

TULANE-LOYOLA FEDERAL CREDIT UNION

Subordinated Debentures

1g

Interest

N/A

N/A

N/A

$66,756

N/A

CDCI

UNION BAPTIST CHURCH FEDERAL CREDIT UNION

Subordinated Debentures

177

Interest

N/A

N/A

N/A

$1,600

N/A

CDCI

VIGO COUNTY FEDERAL CREDIT UNION

Subordinated Debentures

1b, 163

Interest

N/A

N/A

N/A

$132,601

N/A

CPP

HARBOR BANKSHARES CORPORATION

Preferred Stock

175

Dividend - Cumulative

N/A

N/A

N/A

$2,555,361

N/A

CPP

ONE UNITED BANK

Preferred Stock

CPP

ONEFINANCIAL CORPORATION

Subordinated Debentures with Exercised Warrants

CPP

PINNACLE BANK HOLDING COMPANY, INC.

CPP

ST. JOHNS BANCSHARES, INC.

Dividend - Non Cumulative

Quarterly

N/A

N/A

$93,823

176

Interest

N/A

N/A

N/A

$3,782,991

8/15/2019
N/A

Preferred Stock with Exercised Warrants

87, 174

Dividend - Cumulative

N/A

N/A

N/A

$284,999

N/A

Preferred Stock with Exercised Warrants

1a

Dividend - Cumulative

N/A

N/A

N/A

$1,881,221

N/A

Notes to the Cumulative Dividends, Interest, and Distribution Report:
1a

This institution repaid Treasury pursuant to Title VII, Section 7001 of the American Recovery and Reinvestment Act of 2009, prior to this month. No current or future dividend payments are required. The life to date payment amount will remain the same on

1b

This institution repaid Treasury prior to this month pursuant to one or more of the following, as appropriate: Section 5 of the CDCI Certificate of Designation, Section 6.10 or 6.11 of the CDCI Securities Purchase Agreement, and/or Section 5.11 of the CDCI

1g
30

This institution repaid Treasury during or prior to this month pursuant to one or more of the following, as appropriate: Section 5 of the CDCI Certificate of Designation, Section 6.10 or 6.11 of the CDCI Securities Purchase Agreement, and/or Section 5.11 of
the CDCI Exchange Agreement. No current or future dividend payments are required. The life to date payment amount will remain the same on future reports.
General Motors Corporation (Old GM) is now known as Motors Liquidation Company. Although interest accrues quarterly, payment is not due until the maturity date of the note.

42

This institution qualified to participate in the Community Development Capital Initiative (CDCI), and has exchanged its Capital Purchase Program investment for an equivalent amount of investment with Treasury under the CDCI program terms.

87

On 7/27/2012, Treasury entered into an agreement with Pinnacle Bank Holding Company, Inc. (“Pinnacle”) pursuant to which Treasury agreed to sell its CPP preferred stock back to Pinnacle at a discount subject to the satisfaction of the conditions specified

148

176

On 11/29/2016, Treasury entered into an agreement with First Vernon Bancshares, Inc. (the “Company”), pursuant to which Treasury agreed to sell its CDCI preferred stock to the Company for fair value of $5,745,400 plus accrued and unpaid dividends to
the date of closing, subject to the satisfaction of the conditions specified in the agreement. The sale was completed on 11/29/2016.
On 12/27/2016, Treasury entered into an agreement with Vigo County Federal Credit Union (the “Company”), pursuant to which Treasury agreed to sell 389,150 of its CDCI senior subordinated securities to the Company for fair value of $358,018 plus
accrued and unpaid interest to the date of closing, subject to the satisfaction of the conditions specified in the agreement. The sale was completed on 12/27/2016.
On 12/30/2016, Treasury entered into an agreement with D.C. Federal Credit Union (the “Company”), pursuant to which Treasury agreed to sell 1,022,000 of its CDCI senior subordinated securities to the Company for fair value of $970,900 plus accrued
and unpaid interest to the date of closing, subject to the satisfaction of the conditions specified in the agreement. The sale was completed on 12/30/2016.
On 5/22/2018, Treasury entered into an agreement with Pinnacle Bank Holding Company, Inc. (the “Company”) pursuant to which Treasury agreed to sell its CPP preferred stock back to the Company at a discount subject to the satisfaction of the conditions
specified in the agreement. The sale was completed on 5/22/2018.
On 7/13/2018, Treasury exchanged its preferred stock in Harbor Bankshares Corporation (“Harbor”) and all accrued, unpaid dividends on that stock for 5,491,843 shares of common stock and payment of $2,272,617 pursuant to the terms of the exchange
agreement between Treasury and Harbor entered into on that day.
On 8/15/2018, Treasury determined that its securities holdings in One Financial Corporation (OFC) were worthless and wrote off the investment. Additional information can be found in the TARP Investment Program Transaction Report.

177

This institution repaid Treasury on the date of maturity of its Subordinated Debentures. No current or future dividend payments are required. The life to date payment amount will remain the same on future reports.

163
167
174
175

CAPITAL PURCHASE PROGRAM (CPP) MISSED DIVIDENDS & INTEREST PAYMENTS
AS OF JULY 31, 2019
Total CPP Investment Amount (Note 24)

$204,894,726,320 Total CPP Dividends/Interest Paid as of July 31, 2019 (Note 1)

$12,136,223,732

Non-Current CPP Dividends/Interest (Note 3)

$8,715,518

Non-Current Cumulative Dividends:
Non-Current Non-Cumulative Dividends:
Non-Current S-Corp Interest:
Notes

Institution Name

Portfolio?

Purchase Amount (Note 6)

Unpaid
Dividends/Interest
(Note 2)

Payments Made Later (Note 4)

$0
$8,715,518
$0
Non-Current
Dividends/Interest
(Note 3)

Number of Missed
Payments (Note 5)

CUMULATIVE DIVIDENDS:
15, 92
91

HARBOR BANKSHARES CORPORATION

Y

$6,800,000

$3,910,000

$1,615,000

$0

15

PINNACLE BANK HOLDING COMPANY, INC.

N

$4,389,000

$2,615,520

$0

$0

32

Y

$12,063,000

$8,715,518

$0

$8,715,518

41

N

$17,300,000

$13,552,384

$0

$0

26

NON-CUMULATIVE DIVIDENDS:
37

ONE UNITED BANK
S-CORPORATION INTEREST:

93

ONEFINANCIAL CORPORATION

Notes
1

"Dividends and Interest Paid" includes amounts paid in respect of exercised warrants.

2

"Unpaid Dividends/Interest" includes unpaid cumulative dividends, non-cumulative dividends and s-corp/interest, but does not include interest accrued on unpaid cumulative dividends. "Unpaid Dividends/Interest" are stated for the period until
the institution (i) exited their investment in the Capital Purchase Program or (ii) entered bankruptcy or its bank subsidiary was placed into receivership.
"Non-current dividends/interest" includes unpaid cumulative dividends, non-cumulative dividends and s-corp/interest, but does not include interest accrued on unpaid cumulative dividends. "Non-current dividends/interest" excludes institutions
that missed payments but (i) have fully caught-up on missed payments, (ii) exited their investment in the Capital Purchase Program, (iii) completed an exchange with Treasury for new securities (such as common stock), or for which Treasury
has sold its investment, or (iv) are in, or have completed, receivership or bankruptcy proceedings.

3

4

"Payments Made Later" refers to an institution that paid accrued and unpaid dividends after missing the initial scheduled payment date(s).

5

"Number of Missed Payments" are stated for the period until the institution (i) exited their investment in the Capital Purchase Program or (ii) entered bankruptcy or its bank subsidiary was placed into receivership.

6

"Purchase Amount" includes the investment amount for child institutions from mergers, acquisitions.

15

As of the date of this report, this institution has agreed to have a Treasury observer attend board of directors meetings and an observer has been assigned.

24

Total CPP Investment Amount includes the capitalization of accrued dividends / interest referred to in footnote 8.

37

As of the date of this report, this institution has declined Treasury's request to have a Treasury observer attend board of directors meetings.

91

For information related to the sale of Treasury's investment, please see footnote 174 to the Cumulative Dividends, Interest and Distributions Report in the notes preceding this table.

92

For information related to the exchange of Treasury's investment, please see footnote 175 to the Cumulative Dividends, Interest and Distributions Report in the notes preceding this table.

93

For information related to the disposition of Treasury's investment, please see footnote 176 to the Cumulative Dividends, Interest and Distributions Report in the notes preceding this table.

COMMUNITY DEVELOPMENT CAPITAL INITIATIVE (CDCI) MISSED DIVIDENDS & INTEREST PAYMENTS
AS OF JULY 31, 2019
Total CDCI Investment Amount

$570,073,000 Total CDCI Dividends/Interest Paid as of July 31, 2019

$66,157,178

Non-Current CDCI Dividends/Interest (Note 1)

Notes

Institution Name

Portfolio?

Purchase Amount

$0

Non-Current Cumulative Dividends:

$0

Non-Current Non-Cumulative Dividends:

$0

Non-Current S-Corp Interest:

$0

Non-Current Credit Union Interest:

$0

Unpaid
Dividends/Interest
(Note 1)

Payments Made Later (Note 2)

Non-Current
Dividends/Interest
(Note 1,4)

Number of Missed
Payments

CUMULATIVE DIVIDENDS:
3, 6

CARVER BANCORP, INC.

Y

$18,980,000

$284,700

$284,700

$0

FIRST AMERICAN INTERNATIONAL CORP.

N

$17,000,000

$765,000

$765,000

$0

0
0

FIRST VERNON BANCSHARES, INC.

N

$6,000,000

$562,050

$562,050

$0

0

COMMUNITY BANK OF THE BAY

N

$4,060,000

$20,300

$0

$0

1

TRI-STATE BANK OF MEMPHIS

N

$2,795,000

$396,750

$55,900

$0

19

NEIGHBORHOOD TRUST FEDERAL CREDIT UNION

N

$283,000

$4,245

$4,245

$0

0

UNION BAPTIST CHURCH FEDERAL CREDIT UNION

N

$10,000

$50

$50

$0

0

NON-CUMULATIVE DIVIDENDS:
6

CREDIT UNION INTEREST:

Notes
1

"Non-current dividends/interest" includes unpaid cumulative dividends, non-cumulative dividends and s-corp/interest, but does not include interest accrued on unpaid cumulative dividends.

2

"Payments Made Later" refers to an institution that paid accrued and unpaid dividends after missing the initial scheduled payment date(s).

3

For information related to the exchange of Treasury's investment, please see footnote 71 to the Cumulative Dividends, Interest and Distributions Report in the notes preceding this table.

4

"Non-current dividends/interest" excludes institutions that missed payments but (i) have fully caught-up on missed payments, (ii) have repaid their investment amounts and exited the Community Development Capital Initiative Program, (iii)
completed an exchange with Treasury for new securities (such as common stock), or for which Treasury has sold its investment, or (iv) are in, or have completed, receivership or bankruptcy proceedings.
As of the date of this report, this institution has agreed to have a Treasury observer attend board of directors meetings and an observer has been assigned.

6