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5/12/2020 Two Financial Institutions Repay Tarp Funds, Deliver $30.6 Million in Proceeds for Taxpayers U.S. DEPARTMENT OF THE TREASURY Press Center Two Financial Institutions Repay Tarp Funds, Deliver $30.6 Million in Proceeds for Taxpayers 1/12/2011 The U.S. Department of the Treasury announced that the following two financial institutions have repurchased Troubled Asset Relief Program (TARP) Capital Purchase Program (CPP) investments, delivering a total of $30.6 million in proceeds today for taxpayers. Washington Banking Company (Oak Harbor, WA): Repurchased all outstanding CPP preferred shares from Treasury’s original investment in the institution totaling $26.4 million and paid accrued dividends totaling $208,842 (Total Proceeds Today for Taxpayers: $26.6 million) Stockmens Financial Corporation (Rapid City, SD): Repurchased CPP preferred shares totaling $4.0 million and paid accrued dividends totaling $31,667 (Total Proceeds Today for Taxpayers: $4.0 million) Note: After this transaction, Treasury holds remaining outstanding Stockmens Financial Corporation CPP preferred shares totaling $11.6 million. Treasury has made overall TARP disbursements of $389 billion. With today’s proceeds, TARP repayments ($235 billion) and income from dividends, interest, and the sale of other securities ($35 billion) total $270 billion. https://www.treasury.gov/press-center/press-releases/Pages/tg1020.aspx 1/2 5/12/2020 Two Financial Institutions Repay Tarp Funds, Deliver $30.6 Million in Proceeds for Taxpayers https://www.treasury.gov/press-center/press-releases/Pages/tg1020.aspx 2/2
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