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Troubled Assets Relief Program
Monthly 105(a) Report – October 2009

November 10, 2009

This report to Congress is pursuant to Section 105(a)
of the Emergency Economic Stabilization Act of 2008.
Confidential Draft – For Discussion Purposes Only

Treasury is pleased to present the monthly 105(a) report to Congress for October 2009. This
report provides the latest developments on efforts to stabilize the financial system, current
status of TARP investments, and background information on all TARP programs.

Section

Page

Key Developments

2

Where is TARP Money Going?

3

Program Updates

5

Certification

16

Appendix 1: Descriptions of TARP Programs

17

How Treasury Exercises its Voting Rights

Appendix 2: October Financial Statement

28

31

This report contains summaries of TARP programs and investments. These summaries do not
include all the material terms and conditions of such programs and investments. Please see
more detailed information available at www.financialstability.gov.

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Monthly 105(a) Report

October 2009

 

Key Developments
The Troubled Assets Relief Program or TARP was established pursuant to the Emergency
Economic Stabilization Act of 2008 or EESA. This law was adopted on October 3, 2008 in
response to the severe financial crisis facing our country. To carry out its duties under the law,
Treasury has developed a number of programs to stabilize our financial system and the housing
market. The TARP programs are described in this report. These efforts, together with the
American Recovery and Reinvestment Act, help lay the financial foundation for economic
recovery.
The following are some key developments that took place in October 2009 under Treasury’s
programs:
•

The U.S. Treasury received $607.47 million in dividend, interest and fee payments from
all TARP Programs in October 2009. Total dividends, interest and fee payments
received since inception of TARP through October 2009 is $10.1 billion. 1

•

Three banks repaid $88.4 million of Treasury investments in October, bringing the total
amount of TARP investments repaid to $70.81 billion through October 2009.

•

Treasury made new investments in 6 banks totaling $58.27 million in October 2009.

•

8 new mortgage servicers signed up to participate in the Home Affordable Mortgage
Modification Program (HAMP) and the cumulative total of HAMP trial modifications
reached 596,687.

•

Four of the initial closings of Public-Private Investment Funds (PPIFs) established under
the Legacy Securities Public-Private Investment Program (S-PPIP) took place in October
following the two PPIF initial closings in September. Treasury currently expects that the
remaining initial closings for the other PPIFs will occur in November, and that total
Treasury equity and debt investment in all PPIFs will be $30 billion.

•

On October 21, the Obama Administration announced new efforts to improve access to
credit for small businesses including an initiative to provide lower-cost capital to
community banks that submit a plan to increase small business lending. Treasury also
continued development of a program to purchase in the secondary market securities
backed by 7(a) loans guaranteed by the Small Business Administration.

•

On October 22, 2009, the Office of the Special Master issued determination letters
regarding executive pay compensation for the seven companies that received
exceptional TARP assistance.

                                                            
1

Following month-end, on November 1, 2009, CIT Group Inc. (CIT) filed a pre-packaged bankruptcy plan.
CIT is a CPP participant that received a $2.33 billion investment in preferred stock from Treasury in
December 2008. Under the proposed bankruptcy plan terms it is unlikely that Treasury will receive any
significant recovery on this investment.

 
 

 

 

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Monthly 105(a) Report

October 2009

 

Where is TARP Money Going?
EESA authorized $700 billion for TARP 2 . Treasury has used this authority to make investments
that are designed to restore confidence in the strength of our financial institutions, restart
markets that are critical to financing American households and businesses, and address the
housing market problems.
Treasury has announced the following uses of TARP funds:
•

$560.70 billion has been planned for particular TARP programs, as shown in Figure 1.

–

Of that amount, $472.51 billion has been committed to specific institutions under
signed contracts.

–

$366.36 billion has been paid out by Treasury under those contracts.

Figure 1 shows the planned TARP investments by program as of November 5, 2009. Please
see Appendix 1 for a description of the programs listed in the chart.
Figure 1: Planned TARP investments ($ billions) as of November 5, 2009
$5.00
Capital Purchase Program (CPP)

$30.00

Auto Industry Financing Program (AIFP)

$40.00

Consumer and Business Lending Initiative (CBLI)

$50.00
$208.00

AIG
Home Affordable Modification Program (HAMP)

$69.84

Targeted Investment Program (TIP)
Legacy Securities Public-Private Investment Program (S-PPIP)

$70.00

$86.60

Asset Guarantee Program (AGP)

The authority to make investments under EESA expires on December 31, 2009. However, the
Secretary of the Treasury may extend the authority through October 3, 2010 upon satisfying
certain conditions.

                                                            
2

Amount reduced by $1.244 billion to offset costs of program changes as mandated by the Helping
Families Save their Homes Act of 2009, and $15 million allocated for administrative expenditures relating
to the Special Inspector General for the Troubled Asset Relief Program (SIGTARP).

 
 

 

 

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Monthly 105(a) Report

October 2009

 
A large part of the total investments to date occurred last fall under the Capital Purchase
Program (CPP) following the adoption of EESA in October 2008. The more recent
commitments include amounts extended under the Obama Administration’s Financial Stability
Plan. These include funds committed under the Making Home Affordable program, the planned
TARP investments in the Legacy Securities Public-Private Investment Program, and those
under the other programs described in this report.
Figure 2 shows the amount of TARP investments by month. It shows both the amount obligated
– or committed for investment – and the amount disbursed or actually paid out.
Figure 2: Funds committed and paid out under TARP through October
$540

$160

$480

$140

$420

$120

Billions

$180

$360

$100

$300

$80

$240

$60

$180

$40

$120

$20

$60

$0

$0

Amount Committed to Specific Institutions Each Month (Left Scale)

Amount Paid Out in Each Month (Left Scale)

Cumulative Amount Committed to Specific Institutions (Right Scale)

Cumulative Amount Paid Out (Right Scale)

Taxpayers can track progress on all of the financial stability programs and investments, as well
as repayments, on Treasury’s website. Specifically, taxpayers can look at investments within
two business days of closing in our TARP transaction reports at www.financialstability.gov.
In mid-December, Treasury expects to publish audited annual financial statements under
Federal financial reporting standards that will provide detailed information on the value of the
TARP portfolio.

 
 

 

 

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Monthly 105(a) Report

October 2009

 

Program Updates
Dividends and Interest Received
Most of the TARP money has been used to make investments in preferred stock or loans.
Treasury receives dividend or interest payments on these investments from the institutions
participating in TARP programs. These payments are a return on Treasury’s TARP investments.

•
•

In October, Treasury received $607.47 million in dividends, interest and fees from TARP
investments.
Treasury has received a total of $10.1 billion in dividends, interest and fees through
October 31, 2009.

Figure 3 shows the allocation of dividends, interest and fees received since inception of TARP
by program through October 31, 2009.
Figure 3: Dividends, interest and fees received by TARP Program through October
3%
Capital Purchase Program

8%

Targeted Investment Program
22%
67%

Automotive Industry Finance Program
and Auto Supplier Support Program
Asset Guarantee Program

Please see Appendix 1 for a description of the programs listed in the chart above.
Dividend payments are a portion of a company’s earnings that are paid to equity investors.
Most banks participating in the CPP pay Treasury a cumulative dividend rate of 5 percent per
year for the first five years and 9 percent per year thereafter. S-corporation banks pay an
interest rate of 7.7 percent per year for the first five years and 13.8 percent thereafter.
Preferred shares (or stock) are a form of ownership in a company. Preferred shares are senior
to common stock, but junior to debt.
Treasury’s Dividends and Interest Reports for TARP programs are available at
http://www.financialstability.gov/latest/reportsanddocs.html.
 
 

 

 

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Monthly 105(a) Report

October 2009

 

Capital Purchase Program
 
A major part of TARP is the Capital Purchase Program (CPP).
Under this program, Treasury invests in banks and other financial institutions to increase their
capital. Banks use the CPP money in a number of ways, including shoring up capital, investing
in assets, and increasing lending.
During October, Treasury made new investments in 6 banks totaling $58.27 million, including
three small banks participating in the expansion of the CPP. Treasury received $941 thousand
in dividends, interest and fees from CPP investments, $88.4 million in CPP repayments and
$1.58 million from CPP warrant repurchases.
Figure 4: CPP Snapshot through October
CPP Investments
Disbursements in October 2009: $58.274 million to 6 banks
Total amount disbursed since October 2008: $204.675 billion
CPP investments repaid since October 2008: $70.805 billion
CPP Banks
Number of institutions that have received CPP investment: 690
Number of institutions that have fully repaid CPP investment: 42
Number of institutions that have partially repaid CPP investment: 3
Number of institutions currently participating in CPP: 648
CPP Facts
Participation across the US:
Banks in 48 states, the District of Columbia and Puerto Rico
Largest Investment: $ 25 billion
Smallest Investment: $ 301 thousand

Details on the Capital Purchase Program are available at
http://www.financialstability.gov/roadtostability/capitalpurchaseprogram.html.
The CPP remains open for investments in small banks, with terms aimed at encouraging
participation by small community banks that are qualified financial institutions (QFIs) under CPP
terms. The application deadline is November 21, 2009.
The CPP originally was available to banks of all sizes. Figure 5 and Figure 6 show the
distribution of CPP funds by size of investment as of October 31, 2009. These charts include all
690 banks that have received funds, including those that have repaid the investment. The CPP
investment amount is determined by the size of the bank. The CPP investments are no less
 
 

 

 

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Monthly 105(a) Report

October 2009

 
than one percent and no greater than three percent (five percent for small banks) of the
recipient’s risk-weighted assets.
Figure 5: Number of CPP banks by investment amount through October
6
Less than $25 million

57

$25 million - $50 million

19

53

$50 million - $100 million
72
$100 million - $1 billion

483

$1 billion - $10 billion
$10 billion and up

Figure 6: Total CPP funds disbursed by investment amount through October
$2.0
$13.2
Large (CPP investment of $250 million
and up)
Medium (CPP investment $12 million $250 million)
Small (CPP investment $12 million
and less)

$189.5

Treasury receives dividend or interest payments on its CPP investments. Some of the banks
that received investments under CPP have repaid Treasury. When a bank repays, it is typically
also required to pay any accrued and unpaid dividends or interest. Treasury continues to work
with federal banking regulators to evaluate requests from CPP participants interested in
repaying Treasury.
Treasury also receives warrants in connection with most of its investments. When a publicly
traded bank repays Treasury for a preferred stock investment, the bank has the right to
repurchase its warrants. The warrants do not trade on any market and do not have observable
market prices. If the bank wishes to repurchase its warrants, an independent valuation process
is used to establish fair market value. If an institution chooses not to repurchase its warrants,
Treasury is entitled to sell them. Treasury is currently developing an auction process to sell
 
 

 

 

7

Monthly 105(a) Report

October 2009

 
warrants. Privately held banks that received CPP funds issued Treasury a warrant for additional
shares of preferred stock, which Treasury immediately exercised. Any proceeds from the
repurchases of shares acquired from a warrant are included as cash received from sales of
warrants in the chart below.
The chart below shows the amount of dividends, interest and fees, repayments of principal, and
warrant proceeds under the CPP through October 2009.
Figure 7: Cash received through the CPP through October
10/1/2009 – 10/31/2009
Dividends, Interest and Fees:

Total since inception

$941 thousand
$88.40 million

$70.81 billion

$1.58 million

$2.90 billion

$90.92 million

Repayments of Principal:

$6.79 billion

$80.50 billion

Warrant Proceeds*:
Total:

* Includes proceeds from the repurchase of shares received through the exercise of
warrants.

Bank Lending and Intermediation Surveys
Capital Purchase Program – Lending Survey Activity
Each month, Treasury asks banks participating in the CPP to provide information about their
lending activities and publishes the results in two reports described below. These two reports
are intended to help the public easily assess the lending and intermediation activities of
participating banks.
Monthly Lending and Intermediation Snapshots
This monthly report gathers and provides data on the lending and other intermediation activities
for the 22 largest financial institutions that received TARP investments under the CPP. In
October 2009, Treasury released the results of its ninth survey of banks’ activities, including the
following information on August lending:
•

•

 
 

The overall outstanding loan balance (of all respondents) fell one percent from July to
August at the top 22 participants in the Capital Purchase Program (CPP), due mainly to
decreased demand from borrowers, payment of outstanding debt, and charge-offs by
banks and some seasonal patterns.
Total origination of new loans at the 22 surveyed institutions decreased seventeen
percent from July to August. In August, the 22 surveyed institutions originated
approximately $235 billion in new loans. Total originations of loans by all respondents
rose in one category (other consumer lending products) and fell in the other seven loan
categories.

 

 

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Monthly 105(a) Report

October 2009

 
CPP Monthly Lending Report
This monthly lending report provides data on consumer lending, commercial lending, and total
lending for all CPP participants. The chart in Figure 8 summarizes total loan activity among
CPP participants.
Figure 8: CPP Monthly Lending Report
All CPP Recipients
Date

Number of
Respondents*

2/28/2009
3/31/2009
4/30/2009
5/31/2009
6/30/2009
7/31/2009
7/31/2009 (Adjusted)
8/31/2009
8/31/2009 (Adjusted)
Change (July Adjusted to August
Adjusted)

Total Average
Consumer Loans

519
553
541
612
604
609
602
629
602

Total Average
Commercial Loans

Total Average
Total Loans

$2,898,031
$2,885,662
$2,852,651
$2,843,528
$2,812,225
$2,803,414
$2,797,648
$2,785,612
$2,780,160

$2,380,692
$2,359,017
$2,329,537
$2,346,621
$2,429,931
$2,339,348
$2,338,467
$2,323,398
$2,310,499

$5,278,723
$5,244,679
$5,182,189
$5,190,149
$5,242,156
$5,142,762
$5,136,115
$5,109,010
$5,090,659

-0.63%

-1.20%

-0.89%

Details on the Bank Lending Surveys are available at
http://www.financialstability.gov/impact/surveys.htm.
The Quarterly Capital Purchase Program Report
To understand better how the CPP and other stabilization initiatives launched by the Federal
Government may have affected financial institutions and their activities, an interagency group
was convened to determine and conduct appropriate analyses. This interagency group consists
of representatives from Treasury, the Federal Deposit Insurance Corporation, the Federal
Reserve Board, the Office of the Comptroller of the Currency, and the Office of Thrift
Supervision. This interagency group has produced a summary of key statistics on lending,
funding, and capital levels of institutions receiving TARP capital. The banks are grouped into
CPP participants and non-CPP participants for the analysis.
Beginning with the next Quarterly CPP Report (scheduled for November), Treasury is
expanding its Quarterly CPP Report in response to suggestions from SIGTARP for reporting on
use of funds to include additional categories of information such as lending, investments, capital
cushion, repayment of debt, and acquisitions.
Details on the Quarterly Capital Purchase Program Reports are available at
http://www.financialstability.gov/impact/CPPreport.html

 
 

 

 

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Monthly 105(a) Report

October 2009

 

Legacy Securities Public-Private Investment Program (S-PPIP)
S-PPIP is designed, in part, to support market functioning and facilitate price discovery in the
commercial and non-agency residential mortgage-backed securities markets, helping banks and
other financial institutions re-deploy capital and extend new credit to households and
businesses. In July Treasury announced that nine firms had been pre-qualified to participate as
fund managers. As of October 31, 2009, six S-PPIP funds (PPIFs) have completed initial
closings and begun operations. Treasury committed a maximum of $1.11 billion of equity
capital together with $2.22 billion of debt financing to each PPIF.
The six PPIFs have raised $3.58 billion in aggregate of private capital which Treasury has
matched 100 percent. Following the initial closing, each PPIF has up to six months to raise
additional private capital. Treasury’s maximum equity obligation to each PPIF is $1.11 billion.
Treasury also will make a loan to each PPIF, up to a maximum of $2.22 billion. Treasury
expects that the remaining initial closings for the other PPIFs will occur in November, and that
total Treasury equity and debt investment in all PPIFs will equal approximately $30 billion.
Fund managers for the PPIFs have established relationships with small, minority-, and womenowned businesses. Partner firms have roles including: involvement in managing the investment
portfolio and cash management services, raising capital from private investors, providing trading
related-services, identifying investment opportunities, and providing investment and market
research and other advisory services to the PPIFs.
Details on the Legacy Securities Public-Private Investment Program are available at
http://www.financialstability.gov/roadtostability/publicprivatefund.html.

Small Business
Treasury continued development of a program to purchase in the secondary market securities
backed by 7(a) loans guaranteed by the Small Business Administration.
As part of a new initiative announced on October 21 by the Obama Administration, including a
conference to be convened by Treasury and the Small Business Administration among
regulators, Congressional leaders, lenders and small businesses, Treasury is currently
developing a program to provide lower-cost TARP capital to community banks as part of further
steps to provide small businesses with access to credit. The program is expected to be
available to viable community banks with less than $1 billion of assets. Participants will be
required to submit a plan that demonstrates how the additional capital will increase their small
business lending efforts. Eligible banks may receive new capital at an initial dividend rate of 3%
compared to the 5% dividend available under the CPP.
Treasury will work with community banks and the small business community to finalize program
terms to best support small business lending, including the amount of capital available to
participating institutions and the treatment of existing CPP participants that wish to replace
existing capital with investments under the new program.

 
 

 

 

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Monthly 105(a) Report

October 2009

 

Term Asset-Backed Securities Loan Facility
Under the Term Asset-Backed Securities Loan Facility (TALF), the Federal Reserve Bank of
New York makes loans to buyers of asset-backed securities in order to stimulate consumer and
business lending by the issuers of those securities. Treasury uses TARP funds to provide credit
support for the TALF. The asset-backed securities (ABS) that are eligible for the TALF must be
backed by new or recently originated auto loans, student loans, credit card loans, equipment
loans, floorplan loans, insurance premium loans, loans guaranteed by the Small Business
Administration, residential mortgage servicing advances, or commercial mortgage loans,
including legacy loans. The markets for ABS are an important source of credit for consumers
and businesses. These markets essentially stopped functioning during the financial crisis. The
purpose of TALF is to help restart these markets and help consumers and businesses obtain
credit.
The first TALF subscription took place on March 19, 2009 and there have been eight monthly
ABS subscriptions as of October 31, 2009. A total of $86.2 billion of TALF-eligible new ABS
issuance has been brought to market. Of that amount, approximately 52% of total new
issuance, or $45.2 billion, was financed using TALF loans.
Figure 9 shows the increase in issuance of consumer ABS since the launch of TALF in March
2009.
Figure 9: Total Consumer ABS Issuance through October
$blns

Credit Card, Auto, Equipment and Student Loan Issuance

25

20

TALF
18.5 18.2
Standard

15

10

5

16.5
8.2

8.1

12.6

13.6
8.3

3.6

16.8

6.6

2.9
9.1

0.4

0.5

1.9

1.3

1.6
2.0

0

5.8

5.2
1.2

2.0

4.4

4.3

0.1

Source: Markets Room, U.S. Treasury Department (10/30/09)
Details on TALF are available at
http://www.financialstability.gov/roadtostability/lendinginitiative.html

 
 

 

 

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Monthly 105(a) Report

October 2009

 

The Special Master for TARP Executive Compensation Issues First
Rulings
On October 22, 2009, the Special Master for TARP Executive Compensation Kenneth R.
Feinberg released determinations on the compensation packages for the top executives at firms
that received exceptional TARP assistance. Under EESA (as amended in 2009) and Treasury’s
Interim Final Rule on Executive Compensation, the Office of the Special Master has a mandate
to review all forms of compensation for the five most senior executive officers and the next 20
most highly compensated employees at the seven firms that received exceptional TARP
assistance (AIG, Citigroup, Bank of America, Chrysler, GM, GMAC and Chrysler Financial).
The Office of the Special Master generally rejected the companies’ initial proposals for the top
25 executives and approved a modified set of compensation structures with the following
features:
•

Cash salaries generally no greater than $500,000, with the remainder of compensation
in equity.

•

Most equity compensation paid as vested “stock salary,” which executives must hold
until 2011, after which it can be transferred in three equal, annual installments (subject to
acceleration on the company’s repayment of TARP funds).

•

Annual incentives payable in “long-term restricted stock,” which requires three years of
service, in amounts determined based on objective performance criteria. Actual
payment of the restricted stock is subject to the company’s repayment of TARP funds (in
25% installments).

•

$25,000 limit on perquisites and “other” compensation, absent special justification.

•

No further accruals or company contributions to executive pension and retirement
programs.

The Office of the Special Master will next review the compensation structures (but not individual
salaries) of the company’s next 75 most highly compensated employees. The Special Master
declared the seven companies’ proposals for these covered employees “substantially complete”
on October 30, 2009. The Office of the Special Master will conduct a review and issue
determinations regarding the compensation structures on or before December 29, 2009.
For more information regarding the determination letters and executive compensation is
available at: http://www.financialstability.gov/about/executivecompensation.html and
http://www.financialstability.gov/latest/tg_102220009e.html.

Home Affordable Modification Program
The Home Affordable Modification Program (HAMP), part of Making Home Affordable, a
comprehensive program to stabilize the U.S. housing market, was first announced by the
Administration in February 2009 as part of its Financial Stability Plan.
Using TARP funds, Treasury provides incentives for mortgage servicers, borrowers and
investors to modify loans that are delinquent or at imminent risk of default to an affordable
 
 
 
 

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Monthly 105(a) Report

October 2009

 
monthly payment equal to no more than 31 percent of a borrower’s gross monthly income.
Borrowers must be owner occupants, demonstrate the ability to support the reduced payment
during a three-month trial and submit required documentation before the modification becomes
permanent.
Participating servicers must enter into the Servicer Participation Agreements with Treasury on
or before December 31, 2009. Borrowers may be accepted into the program if a borrower has
made the first trial period payment on or before December 31, 2012, under a Home Affordable
Modification Trial Period Plan Notice delivered to a borrower. Modifications will continue for five
years from starting date of modification, and incentive payments will continue to be paid out
over that period.
From April through October 2009, 71 servicers have executed Servicer Participation
Agreements and more than $27 billion (of a total potential allocation from TARP funds of $50
billion) has been committed to implement the program. Between loans serviced by the
participants that have entered into Servicer Participation Agreements, and loans that are owned
or securitized by Fannie Mae or Freddie Mac (the “GSEs” or “government sponsored
enterprises”, which are automatically participants in the HAMP), more than 85 percent of all
mortgage loans are now covered by the HAMP. In early October, the HAMP achieved its
previously announced target of more than 500,000 trial modifications underway and more than
850,000 trial modification offers extended – a month ahead of schedule. For month-end, MHA
announced over 650,000 trial modifications started and over 900,000 trial modifications
extended.
Additional components of HAMP include the Home Price Decline Protection (HPDP), which
provides additional incentive payments for modifications on properties located in areas where
home prices have declined; and the Second Lien Modification Program (2MP), which will
provide incentives for second-lien holders to modify or extinguish a second-lien mortgage when
a modification as been initiated on the first lien mortgage for the same property under HAMP.
Details on the Home Affordable Modification Program are available at
http://www.financialstability.gov/roadtostability/homeowner.html. More information on the
Making Home Affordable programs is available on the website
http://www.makinghomeaffordable.gov.
In October, Treasury continued to focus on steps to improve the overall effectiveness and
efficiency of HAMP:
•

•

A second meeting with servicer CEOs was held on October 8, 2009, to develop standard
performance metrics with all participating servicers and expand outreach efforts to
inform at-risk borrowers about their eligibility and options for participation in HAMP.

•

 
 

To ensure transparency and servicer accountability, servicer-specific results are publicly
reported on a monthly basis. The third Making Home Affordable Program (MHA) Monthly
Servicer Performance Report for October will be available on November 10th at
http://www.financialstability.gov/latest/reportsanddocs.html. Future reports will include
modification information on a regional basis and begin to publish conversion rates by
servicer.

Streamlined borrower documentation guidelines were published October 8th to simplify
the modification application process for borrowers and servicers as well as to further
standardize documentation across servicers.
 
 
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Monthly 105(a) Report

October 2009

 
•

Treasury has developed denial codes that require servicers to report standardized
reasons for modification denials in writing to Treasury and will be used by servicers as a
uniform methodology for sending letters to borrowers who were evaluated for HAMP but
denied a modification.

•

Treasury directed Freddie Mac, in its role as compliance agent for HAMP, to audit
servicers to review a sample of HAMP modification applications that have been declined
by the related servicers. This "second look" process began in August, and is designed
to minimize the likelihood that borrower applications are overlooked or that applicants
are inadvertently denied a modification. The second look program also examines
servicer non-performing loan (NPL) portfolios to identify eligible borrowers that should
have been solicited for a modification, but were not. Following these reviews, Treasury
will receive performance assessments of each servicer's program compliance as
prepared by Freddie Mac, and plans to institute substantial penalties for noncompliance. These penalties may include withholding or reducing payments to
servicers, requiring repayments of prior payments made to servicers with respect to
affected loans, or requiring additional servicer oversight.

•

Treasury’s Homeownership Preservation Office (HPO), in coordination with Fannie Mae
and HUD, continued its nationwide outreach effort to educate borrowers about the
program and improve the borrower response rate.

Below in Figures 10, 11, 12 and 13 are charts showing the HAMP Snapshot through October,
HAMP Participating Servicers, HAMP Trial Modifications, and HAMP Trial Plans Extended to
Borrowers.
Figure 10:

Home Affordable Modification Program (HAMP) Snapshot through
October 2009

Number of Trial Modifications1

650,994

Number of Trial Period Plan Offers Extended to
Borrowers (Cumulative) 2

919,965

Number of Requests for Financial Information
Sent to Borrowers (Cumulative) 2

2,776,740

1

Trial information as reported into IR/2, the HAMP system of record.
Trial plan offers extended and requests for financial information as reported by servicers into weekly survey. Survey data are unverified
and subject to revision.

2

Figure 11:

HAMP Participating Servicers
Approximately 85% of eligible 60-plus-day delinquent mortgage debt
outstanding is covered by HAMP participating servicers.
71 servicers have signed servicer participation agreements to modify loans
under HAMP. These participants service loans owned or guaranteed by
Fannie Mae or Freddie Mac, loans held in portfolio, or loans serviced on
behalf of other investors.

 
 

 

 

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Monthly 105(a) Report

October 2009

 
Approximately 2,300 servicers service loans owned or guaranteed by
Fannie Mae or Freddie Mac. These servicers automatically participate in
HAMP.
Figure 12:

HAMP Loans Entering Trial Period (Cumulative, by Month)

700,000

650,994

600,000
487,081

500,000
386,865

400,000
300,000

253,673

200,000

143,276

100,000

50,130

0
May and
Prior

June

July

August

September

October

Source: IR/2, the official HAMP system of record.

Figure 13:

HAMP Trial Plans Extended to Borrowers (Cumulative, by Month)

1,000,000

919,965

900,000
757,955

800,000
700,000
571,354

600,000
500,000

406,542

400,000
300,000
200,000

242,366
105,806

100,000
0
May

June

July

August

September

October

Source: Weekly servicer survey. Survey data are reported by servicers but are unverified and subject to revision.

 
 

 

 

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Monthly 105(a) Report

October 2009

 

Certification
As Assistant Secretary for Financial Stability at the United States Department of Treasury, I am
the official with delegated authority to approve purchases of troubled assets under the Troubled
Assets Relief Program. I certify to the Congress that each decision by my office to approve
purchases of troubled assets during this reporting period was based on the office’s evaluation of
the facts and circumstances of each proposed investment, including recommendations
from regulators, in order to promote financial stability and the other purposes of the Emergency
Economic Stabilization Act of 2008.
 
 
 

 
 

 

 

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Monthly 105(a) Report

October 2009

 
Appendix 1

Page

Description of TARP Programs:
Capital Purchase Program

18

SCAP and CAP

19

Targeted Investment Program

19

AIG Investment

20

Asset Guarantee Program

20

Automotive Industry Finance Program

21

Consumer and Business Lending Initiative
(TALF & Small Business)

24

Legacy Securities Public-Private Investment Program 25
Making Home Affordable

26

Office of the Special Master
(Executive Compensation)

27

How Treasury Exercises its Voting Rights

28

Appendix 2

Page

October Financial Statement

31

 
 

 

 

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Monthly 105(a) Report

October 2009

 

Capital Purchase Program
What is the CPP?
•

Treasury created the Capital Purchase Program (CPP) in October 2008 to stabilize the
financial system by providing capital to viable banks of all sizes throughout the nation.
With a strengthened capital base, banks have an increased capacity to lend to U.S.
businesses and consumers and to support the U.S. economy.

•

Although many banks are fundamentally sound, because of the capital restraints caused
by the troubled market conditions, they are hesitant to lend. The level of confidence
between banks and other financial institutions was also low, so they were unwilling to
lend to each other.

•

Restoring capital and confidence is essential to allowing the financial system to work
effectively and efficiently.

How does the CPP work?
•

•

Treasury purchases senior preferred shares and other interests from qualifying U.S.controlled banks, savings associations, and other financial institutions. Treasury also
receives warrants to purchase common shares or other securities from the banks.

•

Banks use the CPP money in a number of ways, including shoring up capital, investing
in assets, and increasing lending.

•

Banks participating in the CPP pay Treasury dividends on the preferred shares at a rate
of five percent per year for the first five years following Treasury’s investment and at a
rate of nine percent per year thereafter. S-corporation banks pay an interest rate of 7.7
percent per year for the first five years and 13.8 percent thereafter. Preferred shares (or
stock) are a form of ownership in a company.

•

Banks may repay Treasury under the conditions established in the purchase agreements
as amended by the American Recovery and Reinvestment Act. Treasury also has the
right to sell the securities. The repayment price is equal to what Treasury paid for the
shares, plus any unpaid dividends or interest.

•

 
 

Through the CPP, Treasury makes investments in banks, to increase their capital and to
enable them to continue lending to businesses and consumers and otherwise serve their
customers.

When a publicly-traded bank repays Treasury for the preferred stock investment, the
bank has the right to repurchase its warrants. The warrants do not trade on any market
and do not have observable market prices. If the bank wishes to repurchase warrants,
an independent valuation process is used to establish fair market value. If an institution
chooses not to repurchase the warrants, Treasury is entitled to sell the warrants.
Treasury is currently developing a process to auction these warrants.

 

 

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October 2009

 

Supervisory Capital Assessment Program (SCAP) and Capital
Assistance Program (CAP)
What are SCAP and CAP?

•

The Supervisory Capital Assessment Program and Capital Assistance Program are
important components of the Financial Stability Plan to help ensure that banks have a
sufficient capital cushion in a more adverse economic scenario. SCAP is a
comprehensive capital assessment exercise for the largest 19 U.S. bank holding
companies and a complement to the CAP. The SCAP assessments, or “stress tests,”
are a comprehensive, forward-looking review of the largest U.S. banks.

How does SCAP work?

•
•

Federal banking supervisors conducted forward-looking assessments to provide the
transparency necessary for individuals and markets to judge the strength of the banking
system. Results of the stress tests were released on May 7, 2009.
Some banks were required to take steps to improve the quality and/or the quantity of
their capital to give them a larger cushion to support future lending even if the economy
performs worse than expected. Banks had a range of options to raise capital in the
private markets, including common equity offerings, asset sales and the conversion of
other forms of capital into common equity. If these options were not sufficient, they
could request additional capital from the government through CAP. Financial institutions
had to submit a detailed capital plan to supervisors, who consulted with Treasury on the
development and evaluation of the plan. Any bank needing to augment its capital buffer
at the conclusion of the SCAP was required to develop a detailed capital plan by June 8,
2009, and had until November 2009 to implement that capital plan.

How does CAP work?
•

In cases in which the SCAP indicated that an additional capital buffer was warranted,
institutions have an opportunity to turn first to private sources of capital, but are also
eligible to receive government capital via investment available immediately through the
CAP. Eligible U.S. banks that did not participate in the SCAP could apply to their
primary federal regulator to receive capital under the CAP.

•

Capital provided under CAP will be in the form of a preferred security that is convertible
into common equity. CAP securities will carry a nine percent dividend yield.

Targeted Investment Program and AIG Investment
Pursuant to EESA, Treasury has provided additional assistance on a case-by-case basis in
order to stabilize institutions that were considered systemically significant to prevent broader
disruption of financial markets. Treasury has provided this assistance by purchasing preferred
shares in the institutions. As part of those transactions Treasury has also received warrants to
purchase common shares in the institutions. As of October 31, 2009, assistance under these
programs had been provided to:

 
 

 

 

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Monthly 105(a) Report

October 2009

 
Targeted Investment Program (TIP)
•

Under the TIP, Treasury purchased $20 billion in preferred stock from Citigroup, Inc. and
$20 billion in preferred stock from Bank of America Corporation. Both preferred stock
agreements pay a dividend of eight percent per annum. These investments were in
addition to CPP investments in these institutions. As part of an exchange offer designed
to strengthen Citigroup’s capital, Treasury exchanged all its preferred shares in Citigroup
for a combination of common shares and trust preferred securities, and the TIP preferred
shares were exchanged for trust preferred securities.

American International Group (AIG)
•

In November 2008, Treasury purchased $40 billion in preferred stock from AIG. In April
2009, it also created an equity capital facility, under which AIG may draw up to $29.8
billion as needed in exchange for issuing additional preferred stock to Treasury. As of
October 31, 2009, AIG has drawn $3.2 billion from the facility. The preferred stock pays
a non-cumulative dividend of ten percent per year.

•

The Federal Reserve Bank of New York (FRBNY) also provided loans to AIG. In
connection with such loans, the FRBNY received convertible preferred shares
representing approximately 79.8% of the current voting power of the AIG common
shares. These preferred shares were deposited in a trust, created by the FRBNY. The
U.S. Treasury (i.e., the general fund) is the beneficiary of this trust.

Asset Guarantee Program
Under the AGP, Treasury supports the value of certain assets held by qualifying financial
institutions, by helping them absorb unexpectedly large losses on certain assets. The program
was designed for financial institutions whose failure could harm the financial system and has
been used in conjunction with other forms of exceptional assistance.
How does AGP work?
•

•

As compensation for its guarantee, Treasury collects a premium in the form of preferred
stock, warrants, or other form approved by Treasury.

•

 
 

The pool of covered assets is proposed by the financial institution in consultation with
federal regulators and Treasury, and then Treasury applies certain credit tests and asset
filters in order to determine the final pool of covered assets.

As required by EESA, an actuarial analysis is used to ensure that the expected value of
the premium is no less that the expected value of the losses to TARP from the
guarantee. The United States government also provides a set of asset management
guidelines that the institution must follow with respect to the guaranteed pool.

 

 

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Monthly 105(a) Report

October 2009

 
Who Has Received Assistance Under AGP?
Citigroup
•

Treasury has guaranteed up to $5 billion of potential losses incurred on a $301 billion
pool of loans, mortgage-backed securities, and other financial assets held by Citigroup.
The Federal Reserve and the FDIC are also parties to this arrangement. In
consideration for the guarantee, Treasury received $4.03 billion in preferred securities
that pay a dividend of eight percent per annum. Treasury also received a warrant to
purchase approximately 66 million shares of common stock at a strike price of $10.61
per share.

•

As part of the exchange offer noted earlier, Treasury recently exchanged preferred
shares received under the AGP program for an equivalent amount of trust preferred
securities paying interest at the same rate.

•

Treasury does not become obligated to pay on its guaranty unless and until Citigroup
has absorbed $39.5 billion of losses on the covered pool. Treasury would then cover 90
percent of all losses on the covered pool, up to a maximum of $5 billion.

Bank of America
•

In January 2009, Treasury, the Federal Reserve and the FDIC agreed to share potential
losses on a $118 billion pool of financial instruments owned by Bank of America,
consisting of securities backed by residential and commercial real estate loans and
corporate debt and derivative transactions that reference such securities, loans and
associated hedges.

•

Bank of America agreed to absorb all eligible losses in the pool up to $10 billion.
Treasury and the FDIC agreed to share eligible losses in the pool in excess of that
amount, up to $10 billion, with Treasury’s share capped at $7.5 billion. All further losses
were to be shared ninety percent by the Federal Reserve and ten percent by Bank of
America.

•

On September 21, 2009, negotiations were terminated with Bank of America concerning
the asset guarantee arrangement announced in January 2009. In connection with that
termination and in recognition of the benefits provided by entering into the term sheet for
such arrangement, Bank of America paid the U.S. government $425 million. Planned
TARP commitments for the Asset Guarantee Program decreased from $12.5 billion to $5
billion.

Automotive Industry Financing Program
What is the AIFP?
•

 
 

The Automotive Industry Financing Program (AIFP) was developed in December 2008 to
prevent a significant disruption of the U.S. automotive industry, because the potential for
such a disruption posed a systemic risk to financial market stability and would have had
a negative effect on the economy. AIFP loans have helped to enable General Motors
and Chrysler to become more viable auto manufacturing companies.
 

 

21

Monthly 105(a) Report

October 2009

 
•

In the related Auto Supplier Support Program (ASSP), Treasury provides loans to
ensure that auto suppliers receive compensation for their services and products,
regardless of the condition of the auto companies that purchase their products.

How does the AIFP work?
•

Treasury has provided approximately $76 billion in loans and equity investments to
General Motors, GMAC, Chrysler, and Chrysler Financial.

•

Short-term funding was initially provided to GM and Chrysler on the condition that they
develop plans to achieve long-term viability. In cooperation with the Administration, GM
and Chrysler eventually developed satisfactory viability plans and successfully
conducted in bankruptcy proceedings sales of their assets to new entities: Chrysler’s
sale process was completed in 42 days and GM’s was completed in 40 days. Treasury
provided additional assistance during the respective periods.

•

The terms of the assistance impose a number of restrictions on the recipients. Among
other things, they must adhere to rigorous executive compensation standards and other
measures to protect the taxpayer’s interests, including limits on the institution’s
expenditures and other corporate governance requirements.

See below to learn how AIFP has helped each participating company.
Chrysler
•

•

Treasury continued to support Chrysler as it formed an alliance with Fiat. In connection
with Chrysler’s bankruptcy proceedings filed on April 30, 2009, Treasury provided an
additional $1.9 billion under a debtor-in-possession financing agreement to assist
Chrysler in an orderly restructuring. On June 10, 2009, pursuant to a court-approved
order, substantially all of Chrysler’s assets were sold to the newly formed entity, Chrysler
Group LLC (New Chrysler). Treasury committed to loan $6.6 billion to New Chrysler in
working capital funding, and New Chrysler has drawn $4.6 billion of this amount. New
Chrysler also assumed $500 million of Chrysler Holding’s initial loans from Treasury.
When the sale to New Chrysler was completed, Treasury acquired the rights to 9.9% of
the common equity in New Chrysler.

•

 
 

On January 2, 2009, Treasury loaned $4 billion to Chrysler Holding to give it time to
implement a viable restructuring plan. On March 30, the Administration determined that
the business plan submitted by Chrysler failed to demonstrate viability and announced
that in order for Chrysler to receive additional taxpayer funds, it needed to find a partner
with whom it could establish a successful alliance. Chrysler made the determination that
forming an alliance with Fiat was the best course of action for its stakeholders.

The original loans to Chrysler Holding, less $500 million of debt that was assumed by
New Chrysler, remain outstanding and are in default. In July 2009, Chrysler Holding
agreed to pay the greater of $1.375 billion or 40% of the equity value of Chrysler
Financial to Treasury should Chrysler Holding receive certain distributions from Chrysler
Financial and Treasury agreed to certain forbearance with respect to Chrysler Holding’s
loans.

 

 

22

Monthly 105(a) Report

October 2009

 
•

As of October 31, 2009, Treasury owned 9.9% of the equity in New Chrysler, and was
owed $5.1 billion of debt from New Chrysler. The original loans to Chrysler remain
outstanding, but are reduced by $500 million of debt that was assumed by New Chrysler.
Current equity ownership in New Chrysler is as follows: the Chrysler Voluntary
Employee Benefit Association (VEBA) (67.7%), Fiat (20%), Treasury (9.9%) and the
Government of Canada (2.5%).

Chrysler Financial
•

On January 16, 2009, Treasury announced that it would lend up to $1.5 billion to a
special purpose vehicle (SPV) created by Chrysler Financial to enable the company to
finance the purchase of Chrysler vehicles by consumers. To satisfy the EESA warrant
requirement, the Chrysler Financial SPV issued additional notes entitling Treasury to an
amount equal to five percent of the maximum loan amount. Twenty percent of those
notes vested upon the closing of the transaction, and additional notes were to vest on
each anniversary of the transaction closing date. The loan was fully drawn by April 9,
2009. On July 14, 2009, Chrysler Financial fully repaid the loan, including the vested
additional notes and interest.

General Motors
•

On December 31, 2008, Treasury agreed to make loans of $13.4 billion to General
Motors Corporation to fund working capital. Under the loan agreement, GM was also
required to implement a viable restructuring plan by March 30. The first plan GM
submitted failed to establish a credible path to viability, and the deadline was extended
to June 1. Treasury loaned an additional $6 billion to fund GM during this period. To
achieve an orderly restructuring, GM filed bankruptcy proceedings on June 1, 2009.
Treasury provided $30.1 billion under a debtor-in-possession financing agreement to
assist GM through the restructuring period. The new entity, General Motors Company
(New GM), began operating on July 10, 2009, following its purchase of most of the
assets of the Old GM.

•

When the sale to New GM was completed on July 10, Treasury converted most of its
loans to 60.8% of the common equity in the New GM and $2.1 billion in preferred stock.
Treasury continues to hold loans in the amount of $6.7 billion. The New GM currently
has the following ownership: Treasury (60.8%), GM Voluntary Employee Benefit
Association (VEBA) (17.5%), the Canadian Government (11.7%), and Old GM’s
unsecured bondholders (10%).

GMAC
•

 
 

On December 29, 2008, Treasury purchased $5 billion in senior preferred equity from
GMAC LLC, and received an additional $250 million in preferred shares through
warrants that Treasury exercised at closing. At the same time, Treasury also agreed to
lend up to $1 billion of TARP funds to GM (one of GMAC’s owners), to enable GM to
purchase additional ownership interests in GMAC’s rights offering. GM drew $884
million under that commitment on January 16, 2009. In May 2009, regulators required
GMAC to raise additional capital by November 2009 in connection with the SCAP. On
May 21, 2009, Treasury purchased $7.5 billion more of convertible preferred shares from
GMAC and received warrants that Treasury exercised at closing for an additional $375
million in convertible preferred shares, which enabled GMAC to partially meet the SCAP

 

 

23

Monthly 105(a) Report

October 2009

 

•

On May 29, 2009, Treasury exercised its option to exchange the $884 million loan it had
made to GM in January 2009 for about 35% of the common membership interests in
GMAC. As of October 31, 2009, Treasury owns $13.1 billion in preferred shares in
GMAC, through purchases and the exercise of warrants, in addition to 35% of the
common equity in GMAC, $7.875 million of which are convertible at the option of GMAC
subject to certain conditions.

Consumer and Business Lending Initiative (TALF and Small Business)
What is the Term Asset-Backed Securities Loan Facility (TALF)?
•

The Term Asset-Backed Securities Loan Facility (TALF) is a lending facility operated by
the Federal Reserve Bank of New York. The FRBNY provides term non-recourse loans
collateralized by AAA-rated asset-backed securities (ABS) backed by new or recently
originated auto loans, student loans, credit card loans, equipment loans, floor plan loans,
insurance premium finance loans, loans guaranteed by the Small Business
Administration, residential mortgage servicing advances, or commercial mortgage loans,
including legacy commercial mortgage loans. Treasury provides credit support for TALF
as part of Treasury’s Consumer and Business Lending Initiative.

How does the TALF work?
•

•

If the borrower does not repay the loan, the FRBNY will enforce its rights in the collateral
and sell the collateral to a special purpose vehicle (SPV) established specifically for the
purpose of purchasing and managing such assets. The SPV is funded, in part, by a $20
billion subordinated loan commitment from Treasury.

•

The first TALF subscription took place on March 19, 2009 and there have been eight
monthly ABS subscriptions as of October 31, 2009. A total of $86.2 billion of new TALFeligible ABS has been brought to market. Of that amount, approximately 52% or $45.2
billion was financed using TALF loans.

•

 
 

On fixed days each month investors can request the FRBNY to make loans secured by
eligible consumer or small business ABS. Assuming that the borrower and the ABS it
plans to pledge as collateral meet Federal Reserve requirements, the investor will
receive the requested funding. Most borrowers use the loan, together with their own
funds, to purchase the ABS that serves as collateral for the TALF loans.

On August 17, 2009, Treasury and the FRBNY announced the extension of the TALF for
newly-issued ABS and legacy commercial mortgage backed securities (CMBS) through
March 31, 2010. In addition, TALF will make loans against newly issued CMBS through
June 30, 2010. There were no further additions to the types of collateral eligible for the
TALF.

 

 

24

Monthly 105(a) Report

October 2009

 
What is the Small Business and Community Lending Initiative?
•

Under the Small Business and Community Lending Initiative to ensure that credit flows
to entrepreneurs and small business owners, Treasury is taking measures to
complement the Administration’s actions to help small businesses recover and grow,
including several tax cuts under the American Recovery and Reinvestment Act and a
temporary increase in the Small Business Administration (SBA) guarantee for certain
types of loans. Treasury is developing of a program to purchase in the secondary
market securities backed by 7(a) loans guaranteed by the Small Business
Administration.

Legacy Securities Public-Private Investment Program
•

What is the Legacy Securities Public-Private Investment Program (S-PPIP)?

•

The Legacy Securities Public-Private Investment Program is intended to address the
problem of legacy real estate-related assets, support market functioning and facilitate
price discovery in the market for non-agency mortgage-backed securities (MBS),
allowing banks and other financial institutions to re-deploy capital and extend new credit
to households and businesses. Both residential and commercial MBS are pools of
mortgages bundled together by financial institutions. Rights to receive a portion of the
cash generated by the pools are sold as securities in the financial markets, in the same
way a stock or bond would be sold in financial markets. The term “legacy assets”
generally refers to loans, asset-backed securities and other types of assets that were
originated or issued before the financial markets for these types of assets deteriorated
significantly in 2008.

•

The Public-Private Investment Program was announced as part of the Financial Stability
Plan, which also included a program for legacy loans to be administered by the FDIC.
That program is still under development.

•

In recent months, financial market conditions have improved and the prices of legacy
securities have appreciated and the results of the Supervisory Capital Assessment
Program enabled banks to raise substantial amounts of capital as a buffer against
weaker than expected economic conditions, which have enabled Treasury to proceed
with the PPIP program at a scale smaller than initially envisioned.

How does the Legacy Securities PPIP work?
•
•

Treasury provides equity as well as debt financing to investment partnerships formed by
the managers. Treasury will invest one-half of the total equity committed to the
partnership; the remainder must be raised by the fund manager from private sector
sources. Treasury also will make a loan to each investment partnership. The loan will
earn interest and must be repaid at the end of the life of the fund.

•

 
 

Treasury will partner with selected fund managers to purchase commercial and nonagency MBS under the S-PPIP.

Treasury’s maximum equity obligation to a PPIF is expected to be $1.11 billion, and
Treasury’s maximum debt financing obligation to a PPIF is expected to be $2.22 billion.
 

 

25

Monthly 105(a) Report

October 2009

 
•

The equity investment, together with warrants to be received by Treasury, ensures that if
these PPIFs perform well, the U.S. Treasury will benefit from the upside of the
performance alongside private investors.

•

The S-PPIP is designed to help the financial system recover by enabling institutions that
hold mortgage-backed securities to sell them, thereby freeing up their capital for other
purposes.

•

Treasury carefully designed the S-PPIP terms to protect the interests of taxpayers.
Fund managers may not acquire assets from or sell assets to their affiliates or any other
PPIF fund manager or private investor that has committed at least ten percent of the
aggregate private capital raised by such fund manager. Fund managers must submit
regular monthly reports about assets purchased, assets disposed, asset values, and
profits and losses. Due to the possibility of actual or potential conflicts of interest
inherent in any market-based investment program, fund managers also must agree to
abide by ethical standards and conflicts of interest and compliance rules and a process
for ensuring adherence to these rules developed by Treasury. In developing these
requirements, Treasury worked closely with, among others, the staff of the SIGTARP
and the Federal Reserve.

S-PPIP Fund Managers
•

Following a comprehensive two-month application, evaluation and selection process,
during which Treasury received over 100 unique applications to participate in the Legacy
Securities PPIP, in July 2009, Treasury pre-qualified the following firms to participate as
fund managers in the initial round of the program:
o
o
o
o
o
o
o
o
o

•

AllianceBernstein, LP and its sub-advisors Greenfield Partners, LLC and Rialto
Capital Management, LLC;
Angelo, Gordon & Co., L.P. and GE Capital Real Estate;
BlackRock, Inc.;
Invesco Ltd.;
Marathon Asset Management, L.P.;
Oaktree Capital Management, L.P.;
RLJ Western Asset Management, LP;
The TCW Group, Inc.;
Wellington Management Company, LLP.

In addition, these firms have committed to establishing partnerships with small, minority-,
and women-owned businesses.

Making Home Affordable
What is the Home Affordable Modification Program?
•

 
 

The Home Affordable Modification Program (HAMP) is designed to give up to 3 to 4
million homeowners an opportunity to reduce their monthly mortgage payments to more
affordable levels. HAMP includes both GSE and non-GSE mortgages. GSE stands for
 

 

26

Monthly 105(a) Report

October 2009

 
“government sponsored enterprise,” and in this report refers to Fannie Mae and Freddie
Mac.
•

Up to $50 billion of TARP funds will be used primarily to encourage the modification of
non-GSE mortgages that financial institutions own and hold in their portfolios (whole
loans) and mortgages held in private-label securitization trusts.

How does the HAMP work?
•

Homeowners participating in HAMP work with HUD-certified housing counselors and
mortgage servicers to have their monthly first lien mortgage payments adjusted to no
more than 31 percent of monthly gross income. In other words, HAMP is designed to
enable responsible homeowners to stay in their homes by reducing mortgage payments
to an affordable level.

What are the HPDP and Second Lien Programs?
•

The Home Price Decline Protection (HPDP) program is a component of HAMP. HPDP
provides additional incentive payments for modifications on properties located in areas
where home prices have recently declined. The purpose of the program is to encourage
additional lender participation and HAMP modifications in areas hardest hit by falling
home prices and ensure that that borrowers in those areas have the opportunity to stay
in their homes, thereby minimizing foreclosures, which further depress home values.

•

The Second Lien Modification Program will provide incentives for second-lien holders to
modify or extinguish a second-lien mortgage when a modification as been initiated on
the first lien mortgage for the same property under HAMP.

Office of the Special Master (Executive Compensation)
What is the scope of the Office of the Special Master?
•

In June 2009, Treasury published the Interim Final Rule (the “Rule”) on executive
compensation, promulgated under the EESA as amended by the American Recovery
and Reinvestment Act of 2009. The Rule contains distinct requirements for recipients of
TARP funding under certain programs, including CPP participants and recipients of
exceptional assistance. The exceptional assistance recipients currently include the
following firms: American International Group, Inc.; Bank of America Corporation;
Citigroup, Inc.; General Motors Company; GMAC, Inc.; Chrysler Financial Services
Americas L.L.C; and Chrysler Group L.L.C.

Power to Review Executive Compensation
In addition to establishing the Office of the Special Master, the Rule provided the Special Master
with specific powers designed to ensure that executive pay at these firms is in line with longterm value creation and financial stability. These include:
•

 
 

Review of Payments: For recipients of exceptional assistance, the Special Master is
required to review and approve compensation structures, including payments made
 

 

27

Monthly 105(a) Report

October 2009

 
pursuant to those structures, for the senior executive officers and 20 next most highly
paid employees.
•

Review of Structures: For each exceptional assistance recipient, the Special Master is
required to review and approve compensation structures for all executive officers and
the 100 most highly compensated employees.

•

Interpretation: The Special Master has interpretive authority over the executive
compensation provisions of EESA and the Interim Final Rule. Accordingly, the Special
Master will make all determinations as to the application of those provisions to particular
facts.

•

Review of Prior Payments: The Special Master is required to review any bonuses,
retention awards, and other compensation paid to employees of each TARP recipient
prior to February 17, 2009, to determine whether the payments were contrary to the
public interest. If the payment is determined to be contrary to the public interest, the
Special Master will be responsible for negotiating for reimbursements of such payments.

Luxury Policies and Certifications
•

All TARP recipients are required to adopt a luxury expenditure policy consistent with the
requirements of the Rule, provide the policy to Treasury and post the policy on their
Internet website, in each case, within 90 days following publication of the Rule (or, if
later, 90 days following the closing date of the agreement between the TARP recipient
and Treasury). These policies are generally required to address expenses including
entertainment or other events, office and facility renovations, aviation or other
transportation services.

•

The Rule also requires that the compensation committee, CEO, and CFO, of each TARP
recipient provide certain certifications to Treasury with respect to compliance with the
Rule. These certifications are due within 120 days of the completion of the TARP
recipient’s fiscal year.

How Treasury Exercises Its Voting Rights
Treasury is a shareholder in the new General Motors, the new Chrysler, GMAC and Citigroup.
The Obama Administration has stated that core principles will guide Treasury’s management of
financial interests in private firms. One such principle is that the United States government will
not interfere with or exert control over day-to-day company operations and, in the event the
government obtains ownership interests, it will vote only on key governance issues. These core
principles also include Treasury's commitment to seek to dispose of its ownership interests as
soon as practicable. Treasury will follow these principles in a manner consistent with the
obligation to promote the liquidity and stability of the financial system.
Treasury does not participate in the day-to-day management of any company in which it has an
investment nor is any Treasury employee a director of any such company. Treasury’s
investments have generally been in the form of non-voting securities or loans. For example, the
preferred shares that Treasury holds in financial institutions under the Capital Purchase
Program do not have voting rights except in certain limited circumstances, such as amendments

 
 

 

 

28

Monthly 105(a) Report

October 2009

 
to the charter of the company, or in the event dividends are not paid for several quarters, in
which case Treasury has the right to elect two directors to the board.
Treasury has announced that it will follow the following principles in exercising its voting rights:
Governance Principles for Citigroup
1) Treasury will exercise its right to vote only on certain matters consisting of:
•
•
•
•

The election or removal of directors
Certain major corporate transactions such as mergers, sales of substantially all
assets, and dissolution
Issuances of equity securities where shareholders are entitled to vote
Amendments to the charter or bylaws.

2) On all other matters, Treasury will vote its shares in the same proportion (for, against or
abstain) as all other shares of the company's stock are voted.
These principles are set forth in an agreement between Treasury and Citigroup.
Governance Principles for GM
Before GM’s expected initial public offering (IPO), Treasury will vote its shares as it determines,
provided that it will vote in favor of directors nominated by the GM Voluntary Employee Benefit
Association (VEBA) or the government of Canada, each of which is also a shareholder. After
the IPO, the following voting principles will apply:
1) Treasury will exercise its right to vote only on certain matters consisting of:
•
•

•
•
•

The removal of directors
The election of directors, provided that Treasury will vote in favor of individuals
nominated through a certain pre-designated process, and individuals nominated by
VEBA
Certain major corporate transactions such as mergers, sales of substantially all
assets, and dissolution
Amendments to the charter or bylaws
Matters in which Treasury’s vote is necessary for the stockholders to take action, in
which case the shares will be voted in the same proportion (for, against or abstain)
as all other shares of the company’s stock are voted.

2) On all other matters, Treasury will not vote its shares.
These principles are set forth in the GM Stockholders Agreement.
Governance of AIG
In the case of AIG:
•

 
 

The U.S. Treasury is the beneficiary of a trust created by the Federal Reserve Bank of
New York (FRBNY). That trust owns shares having 79.8% of the voting rights of the
common stock. The FRBNY has appointed three independent trustees who have the
 

 

29

Monthly 105(a) Report

October 2009

 
power to vote the stock and dispose of the stock with prior approval of FRBNY and after
consultation with Treasury. The trust agreement provides that the trustees cannot be
employees of Treasury or the FRBNY. The trust exists for the benefit of the U.S.
Treasury, and the Department of the Treasury does not control the trust and it cannot
direct the trustees.
•

 
 

Treasury owns preferred stock which does not have voting rights except in certain
limited circumstances (such as amendments to the charter) or in the event dividends are
not paid for four quarters, in which case Treasury has the right to elect up to three
directors to the board.

 

 

30

Appendix 2 – Financial Statement
Attached as Appendix 2 is the financial statement required under Sections 105(a)(2) and (3) of
EESA for the period ending October 31, 2009.
 

31

United States Department of Treasury
Office of Financial Stability
Troubled Asset Relief Program
Report of Administrative Obligations and Expenditures [Section 105(a)(2)]

For Period Ending
October 31, 2009

PERSONNEL SERVICES
NON-PERSONNEL
SERVICES

Budget
Object Class
(BOC)
1100 & 1200
2100
2200
2300
2400
2500
2600
3100
3200
4300

Budget Object Class Title
PERSONNEL COMPENSATION & BENEFITS
PERSONNEL SERVICES Total:
TRAVEL & TRANSPORTATION OF PERSONS
TRANSPORTATION OF THINGS
RENTS, COMMUNICATIONS, UTILITIES & MISC CHARGES
PRINTING & REPRODUCTION
OTHER SERVICES
SUPPLIES AND MATERIALS
EQUIPMENT
LAND & STRUCTURES
INTEREST & DIVIDENDS
NON-PERSONNEL SERVICES Total:

GRAND TOTAL:

$
$
$

$

Obligations
16,402,586
16,402,586
334,688
11,960
228,765
395
59,700,590
259,167
232,054
8
60,767,627

$77,170,213

$
$
$

$

Expenditures
15,884,759
15,884,759
294,007
11,960
41,531
395
41,041,869
259,167
226,324
8
41,875,261

57,760,020

For Period Ending
November 30, 2009

$

Projected
Obligations
18,494,512
18,494,512
388,187
11,960
236,136
395
64,215,061
317,712
235,083
8
65,404,542

$

Projected
Expenditures
18,031,036
18,031,036
345,434
11,960
45,230
395
46,556,546
281,046
227,930
8
47,468,549

$

83,899,054

$

65,499,585

$
$
$

$
$
$

U.S. Treasury Department
Office of Financial Stability
Troubled Asset Relief Program
Agreements Under TARP [Section 105(a)(3)(A)]
For Period Ending October 31, 2009
Date
Approved
or Renewed
10/10/2008
10/11/2008
10/14/2008
10/16/2008
10/18/2008
10/23/2008
10/29/2008
10/29/2008
10/31/2008
11/7/2008
11/14/2008
11/14/2008
12/3/2008
12/5/2008
12/5/2008
12/10/2008
12/12/2008
12/15/2008
12/24/2008
1/6/2009
1/6/2009
1/7/2009
1/9/2009
1/27/2009
1/27/2009
2/2/2009
2/9/2009
2/12/2009
2/18/2009
2/18/2009
2/20/2009
2/20/2009
2/22/2009
3/6/2009
3/16/2009
3/23/2009
3/30/2009
3/30/2009
3/30/2009
3/30/2009
3/31/2009
4/3/2009
4/17/2009
4/17/2009
4/21/2009
4/21/2009
4/21/2009
5/4/2009
5/14/2009
5/14/2009
5/22/2009
5/26/2009
5/26/2009
6/5/2009
6/8/2009
6/29/2009
7/15/2009
7/17/2009
7/30/2009
7/30/2009
7/30/2009
8/11/2009
9/2/2009
9/10/2009
9/14/2009
9/30/2009

Type of
Transaction

Vendor

BPA
BPA
Financial Agent
BPA
BPA
IAA
BPA
BPA
Contract
BPA
IAA
Procurement
IAA
IAA
Procurement
BPA
IAA
IAA
Procurement
IAA
IAA
Procurement
IAA
BPA
Procurement
IAA
Contract
Contract
Financial Agent
Financial Agent
IAA
Contract
Contract
Contract
Financial Agent
Procurement
Contract
Contract
Contract
Contract
BPA
Procurement
Procurement
IAA
Financial Agent
Financial Agent
Financial Agent
IAA
Contract
IAA
IAA
Contract
Contract
Contract
IAA
IAA
Contract
Contract
Contract
Contract
Contract
IAA
Contract
Contract
Contract
Contract

Simpson, Thacher & Bartlett
EnnisKnupp
Bank of New York Mellon
PricewaterhouseCoopers
Ernst & Young
GSA - Turner Consulting*
Hughes Hubbard & Reed
Squire Sanders & Dempsey
Lindholm & Associates*
Thacher Proffitt & Wood**
Securities and Exchange Commission
CSC Systems and Solutions
Trade and Tax Bureau - Treasury
Department of Housing and Urban Development
Washington Post
Thacher Proffitt & Wood**
Pension Benefit Guaranty Corp.
Office of Thrift Supervision
Cushman and Wakefield of VA, Inc.
Office of the Controller of the Currency
State Department
Colonial Parking
Internal Revenue Service
Cadwalader Wickersham & Taft, LLP
Whitaker Brothers Bus. Machines*
Government Accountability Office
Pat Taylor and Associates, Inc*
Locke Lord Bissell & Lidell LLP
Freddie Mac
Fannie Mae
Congressional Oversight Panel
Simpson, Thacher & Bartlett
Venable LLP
Boston Consulting Group
EARNEST Partners
Heery International Inc.
McKee Nelson, LLP
Sonnenschein Nath & Rosenthal
Cadwalader Wickersham & Taft, LLP
Haynes and Boone LLP
FI Consulting*
American Furniture Rentals*
Herman Miller
Bureau of Printing and Engraving
AllianceBernstein
FSI Group
Piedmont Investment Advisors
Federal Reserve
Phacil*
Department of Treasury - US Mint
Department of Justice - ATF
Anderson, McCoy & Orta, LLP*
Simpson, Thacher & Bartlett
Department of Treasury - Internal Revenue Service
Department of Treasury - Financial Management Service
Department of Interior
Judicial Watch
Korn Ferry International
Cadwalader Wickersham & Taft, LLP
Debevoise & Plimpton, LLP
Fox Hefter Swibel Levin & Carol, LLP
NASA
Knowledge Mosaic Inc.*
Equilar, Inc.*
PricewaterhouseCoopers
SNL Financial LC

* Small or Women-, or Minority-Owned Small Business
**Contract responsibilities assumed by Sonnenschein Nath & Rosenthal via novation.

Purpose
Legal Services
Investment and Advisory Services
Custodian and Cash Management
Internal Control Services
Accounting Services
Archiving Services
Legal Services
Legal Services
Human Resources Services
Legal Services
Detailees
IT Services
IT Services
Detailees
Vacancy Announcement
Legal Services
Legal Services
Detailees
Painting
Detailees
Detailees
Parking
Detailees
Legal Services
Office Machines
Oversight
Temporary Employee Services
Legal Services
Homeownership Program
Homeownership Program
Oversight
Legal Services
Legal Services
Management Consulting Support
Asset Management Services
Architects
Legal Services
Legal Services
Legal Services
Legal Services
Modeling and Analysis
Office Furniture
Office Furniture
Detailee
Asset Management Services
Asset Management Services
Asset Management Services
Detailee
FOIA Services
Administrative Support
Detailee
Legal Services
Legal Services
Administrative Services
IT Services
Website Testing
Legal Advisory
Administrative Support
Legal Advisory
Legal Advisory
Legal Advisory
Detailee
Administrative Services
Administrative Services
Asset Management Services
Administrative Services

U.S. Treasury Department
Office of Financial Stability
Troubled Asset Relief Program
Insurance Contracts [Section 105(a)(3)(B)]
For Period Ending October 31, 2009

Name
Citigroup

Amount
$5,000,000,000

The subsidy rate for this insurance contract is determined
to be -0.25 percent. Per EESA section 102(c)(3),
premiums shall be set at a level necessary to meet
anticipated claims. To ensure that the guarantee remains
compliant with section 102(c)(3), the Master Agreement
provides for post-signing adjustments including additional
Citigroup preferred stock, a reduction of the covered asset
pool, and/or an increased Citigroup deductible (section 5.2
of the Master Agreement). Under this section of the
agreement, the subsidy rate will be reassessed once the
loan pools are finalized and details are provided to
Treasury (minor changes in the composition of assets are
expected). Citigroup must either transfer more preferred
stock or absorb more in first losses (it is unlikely the size of
the asset pool would be reduced), if it is found that the
risks of the assets in the loan pool exceed those estimated
today and would not meet the requirements of EESA
section 102(c)(3). This “true-up” would occur over the next
2 months.

U.S. Treasury Department
Office of Financial Stability
Troubled Asset Relief Program
Transactions Report [Section 105(a)(3)(C, D, G)]
For Period Ending October 31, 2009
CAPITAL PURCHASE PROGRAM

Seller

Footnote

11

Purchase Date

Purchase Details

Name of Institution

City

State

Investment Description

Treasury Investment Remaining
After Capital Repayment

Capital Repayment Details

Investment Amount

Pricing
Mechanism

10/28/2008
10/28/2008
10/28/2008
10/28/2008
10/28/2008
10/28/2008
10/28/2008
10/28/2008
11/14/2008
11/14/2008
11/14/2008
11/14/2008
11/14/2008
11/14/2008
11/14/2008
11/14/2008
11/14/2008
11/14/2008
11/14/2008
11/14/2008
11/14/2008
11/14/2008
11/14/2008
11/14/2008

Bank of America Corporation
The Bank of New York Mellon Corporation
Citigroup Inc.
The Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
Morgan Stanley
State Street Corporation
Wells Fargo & Company
Bank of Commerce Holdings
1st FS Corporation
UCBH Holdings, Inc.
Northern Trust Corporation
SunTrust Banks, Inc.
Broadway Financial Corporation
Washington Federal Inc.
BB&T Corp.
Provident Bancshares Corp.
Umpqua Holdings Corp.
Comerica Inc.
Regions Financial Corp.
Capital One Financial Corporation
First Horizon National Corporation
Huntington Bancshares
KeyCorp

Charlotte
New York
New York
New York
New York
New York
Boston
San Francisco
Redding
Hendersonville
San Francisco
Chicago
Atlanta
Los Angeles
Seattle
Winston-Salem
Baltimore
Portland
Dallas
Birmingham
McLean
Memphis
Columbus
Cleveland

NC
NY
NY
NY
NY
NY
MA
CA
CA
NC
CA
IL
GA
CA
WA
NC
MD
OR
TX
AL
VA
TN
OH
OH

Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Common Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

15,000,000,000
3,000,000,000
25,000,000,000
10,000,000,000
25,000,000,000
10,000,000,000
2,000,000,000
25,000,000,000
17,000,000
16,369,000
298,737,000
1,576,000,000
3,500,000,000
9,000,000
200,000,000
3,133,640,000
151,500,000
214,181,000
2,250,000,000
3,500,000,000
3,555,199,000
866,540,000
1,398,071,000
2,500,000,000

Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par

11/14/2008

Valley National Bancorp

Wayne

NJ

Preferred Stock w/ Warrants

$

300,000,000

Par

11/14/2008
11/14/2008
11/14/2008
11/14/2008
11/21/2008
11/21/2008
11/21/2008
11/21/2008
11/21/2008
11/21/2008
11/21/2008
11/21/2008
11/21/2008
11/21/2008
11/21/2008
11/21/2008

Zions Bancorporation
Marshall & Ilsley Corporation
U.S. Bancorp
TCF Financial Corporation
First Niagara Financial Group
HF Financial Corp.
Centerstate Banks of Florida Inc.
City National Corporation
First Community Bankshares Inc.
Western Alliance Bancorporation
Webster Financial Corporation
Pacific Capital Bancorp
Heritage Commerce Corp.
Ameris Bancorp
Porter Bancorp Inc.
Banner Corporation

Salt Lake City
Milwaukee
Minneapolis
Wayzata
Lockport
Sioux Falls
Davenport
Beverly Hills
Bluefield
Las Vegas
Waterbury
Santa Barbara
San Jose
Moultrie
Louisville
Walla Walla

UT
WI
MN
MN
NY
SD
FL
CA
VA
NV
CT
CA
CA
GA
KY
WA

Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

1,400,000,000
1,715,000,000
6,599,000,000
361,172,000
184,011,000
25,000,000
27,875,000
400,000,000
41,500,000
140,000,000
400,000,000
180,634,000
40,000,000
52,000,000
35,000,000
124,000,000

Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par

Capital
Repayment Date

Capital Repayment
Amount 6

Remaining
Capital Amount

Final Disposition

Remaining
Investment
Description

Final
Disposition
Date

Disposition
Investment
Description

Final Disposition
Proceeds

6/17/2009

4

$

3,000,000,000

$

0

Warrants

8/5/2009

Warrants

$

136,000,000

6/17/2009
6/17/2009
6/17/2009
6/17/2009

4

$
$
$
$

10,000,000,000
25,000,000,000
10,000,000,000
2,000,000,000

$
$
$
$

0
0
0
0

Warrants
Warrants
Warrants
Warrants

7/22/2009

Warrants

$

1,100,000,000

8/12/2009
7/8/2009

Warrants
Warrants

$
$

950,000,000
60,000,000

6/17/2009

4

$

1,576,000,000

$

0

Warrants

8/26/2009

Warrants

$

87,000,000

5/27/2009
6/17/2009

4

$
$

200,000,000
3,133,640,000

$
$

0
0

Warrants
Warrants

7/22/2009

Warrants

$

67,010,402

6/17/2009

4

$

3,555,199,000

$

0

Warrants

6/3/2009

4

$

75,000,000

$

225,000,000

9/23/2009

4

$

125,000,000

$

100,000,000

6/17/2009
4/22/2009
5/27/2009
6/3/2009
9/30/2009

4

$
$
$
$
$

6,599,000,000
361,172,000
184,011,000
25,000,000
27,875,000

$
$
$
$
$

0
0
0
0
0

Warrants
Warrants
Warrants
Warrants
Warrants

7/15/2009

Warrants

$

139,000,000

6/24/2009
6/30/2009
10/28/2009

Warrants
Warrants
Warrants

$
$
$

2,700,000
650,000
212,000

7/8/2009

5

$

41,500,000

$

0

Warrants

4
4
5

4

4
5
4
5

9

Preferred Stock w/
Warrants
Preferred Stock w/
Warrants

9

9

Page 4 of 28

Seller

Footnote

Purchase Date

Purchase Details

Name of Institution

City

11/21/2008
11/21/2008
11/21/2008
11/21/2008
11/21/2008
11/21/2008
11/21/2008
11/21/2008
11/21/2008
11/21/2008
11/21/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008

Everett
Tacoma
Olympia
Chula Vista
Annapolis
Boston
Green Bay
Jackson
Lexington
Rosemont
Los Angeles
Melrose Park
Chicago
Itasca
Blairsville
Wheeling
Houston
El Segundo
Lafayette
Bethesda
Olney
Fernandina Beach
Pasadena
Greenville
Springfield
Los Angeles
Winston-Salem

12/5/2008

12

Cascade Financial Corporation
Columbia Banking System, Inc.
Heritage Financial Corporation
First PacTrust Bancorp, Inc.
Severn Bancorp, Inc.
Boston Private Financial Holdings, Inc.
Associated Banc-Corp
Trustmark Corporation
First Community Corporation
Taylor Capital Group
Nara Bancorp, Inc.
Midwest Banc Holdings, Inc.
MB Financial Inc.
First Midwest Bancorp, Inc.
United Community Banks, Inc.
Wesbanco Bank Inc.
Encore Bancshares Inc.
Manhattan Bancorp
Iberiabank Corporation
Eagle Bancorp, Inc.
Sandy Spring Bancorp, Inc.
Coastal Banking Company, Inc.
East West Bancorp
South Financial Group, Inc.
Great Southern Bancorp
Cathay General Bancorp
Southern Community Financial Corp.
CVB Financial Corp

Ontario

12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/5/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008

First Defiance Financial Corp.
First Financial Holdings Inc.
Superior Bancorp Inc.
Southwest Bancorp, Inc.
Popular, Inc.
Blue Valley Ban Corp
Central Federal Corporation
Bank of Marin Bancorp
Bank of North Carolina
Central Bancorp, Inc.
Southern Missouri Bancorp, Inc.
State Bancorp, Inc.
TIB Financial Corp
Unity Bancorp, Inc.
Old Line Bancshares, Inc.
FPB Bancorp, Inc.
Sterling Financial Corporation
Oak Valley Bancorp
Old National Bancorp
Capital Bank Corporation
Pacific International Bancorp
SVB Financial Group

Defiance
Charleston
Birmingham
Stillwater
San Juan
Overland Park
Fairlawn
Novato
Thomasville
Somerville
Poplar Bluff
Jericho
Naples
Clinton
Bowie
Port St. Lucie
Spokane
Oakdale
Evansville
Raleigh
Seattle
Santa Clara

State
WA
WA
WA
CA
MD
MA
WI
MS
SC
IL
CA
IL
IL
IL
GA
WV
TX
CA
LA
MD
MD
FL
CA
SC
MO
CA
NC
CA
OH
SC
AL
OK
PR
KS
OH
CA
NC
MA
MO
NY
FL
NJ
MD
FL
WA
CA
IN
NC
WA
CA

Investment Description

Treasury Investment Remaining
After Capital Repayment

Capital Repayment Details

Investment Amount

Pricing
Mechanism

Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

38,970,000
76,898,000
24,000,000
19,300,000
23,393,000
154,000,000
525,000,000
215,000,000
11,350,000
104,823,000
67,000,000
84,784,000
196,000,000
193,000,000
180,000,000
75,000,000
34,000,000
1,700,000
90,000,000
38,235,000
83,094,000
9,950,000
306,546,000
347,000,000
58,000,000
258,000,000
42,750,000

Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par

Preferred Stock w/ Warrants

$

130,000,000

Par

Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Trust Preferred Securities w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

37,000,000
65,000,000
69,000,000
70,000,000
935,000,000
21,750,000
7,225,000
28,000,000
31,260,000
10,000,000
9,550,000
36,842,000
37,000,000
20,649,000
7,000,000
5,800,000
303,000,000
13,500,000
100,000,000
41,279,000
6,500,000
235,000,000

Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par

Capital
Repayment Date

Capital Repayment
Amount 6

Remaining
Capital Amount

Remaining
Investment
Description

Final Disposition
Final
Disposition
Date

Disposition
Investment
Description

9/9/2009

4

$

75,000,000

$

0

Warrants

9/16/2009
3/31/2009

4

$
$

1,700,000
90,000,000

$
$

0
0

Warrants
Warrants

10/14/2009
5/20/2009

Warrants
Warrants

8/26/2009
9/2/2009

4

$
$

97,500,000 $
32,500,000 $

Warrants
Warrants

10/28/2009

3/31/2009

4

$

28,000,000

$

0

Warrants

$

7,000,000

$

0

Warrants

$

100,000,000

$

0

Warrants

Final Disposition
Proceeds

5

4

7/15/2009

3/31/2009

4

32,500,000
0

$
$

63,364
1,200,000

Warrants

$

1,307,000

9/2/2009

Warrants

$

225,000

5/8/2009

Warrants

$

1,200,000

9

9

Page 5 of 28

Seller

Footnote

Purchase Date
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/12/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008

Name of Institution
LNB Bancorp Inc.
Wilmington Trust Corporation
Susquehanna Bancshares, Inc
Signature Bank
HopFed Bancorp
Citizens Republic Bancorp, Inc.
Indiana Community Bancorp
Bank of the Ozarks, Inc.
Center Financial Corporation
NewBridge Bancorp
Sterling Bancshares, Inc.
The Bancorp, Inc.
TowneBank
Wilshire Bancorp, Inc.
Valley Financial Corporation
Independent Bank Corporation
Pinnacle Financial Partners, Inc.
First Litchfield Financial Corporation
National Penn Bancshares, Inc.
Northeast Bancorp
Citizens South Banking Corporation
Virginia Commerce Bancorp
Fidelity Bancorp, Inc.
LSB Corporation
Intermountain Community Bancorp
Community West Bancshares
Synovus Financial Corp.
Tennessee Commerce Bancorp, Inc.
Community Bankers Trust Corporation
BancTrust Financial Group, Inc.
Enterprise Financial Services Corp.
Mid Penn Bancorp, Inc.
Summit State Bank
VIST Financial Corp.
Wainwright Bank & Trust Company
Whitney Holding Corporation
The Connecticut Bank and Trust Company
CoBiz Financial Inc.
Santa Lucia Bancorp
Seacoast Banking Corporation of Florida
Horizon Bancorp
Fidelity Southern Corporation
Community Financial Corporation
Berkshire Hills Bancorp, Inc.
First California Financial Group, Inc
AmeriServ Financial, Inc
Security Federal Corporation
Wintrust Financial Corporation
Flushing Financial Corporation
Monarch Financial Holdings, Inc.
StellarOne Corporation
Union Bankshares Corporation

Purchase Details

City
Lorain
Wilmington
Lititz
New York
Hopkinsville
Flint
Columbus
Little Rock
Los Angeles
Greensboro
Houston
Wilmington
Portsmouth
Los Angeles
Roanoke
Ionia
Nashville
Litchfield
Boyertown
Lewiston
Gastonia
Arlington
Pittsburgh
North Andover
Sandpoint
Goleta
Columbus
Franklin
Glen Allen
Mobile
St. Louis
Millersburg
Santa Rosa
Wyomissing
Boston
New Orleans
Hartford
Denver
Atascadero
Stuart
Michigan City
Atlanta
Staunton
Pittsfield
Westlake Village
Johnstown
Aiken
Lake Forest
Lake Success
Chesapeake
Charlottesville
Bowling Green

State
OH
DE
PA
NY
KY
MI
IN
AR
CA
NC
TX
DE
VA
CA
VA
MI
TN
CT
PA
ME
NC
VA
PA
MA
ID
CA
GA
TN
VA
AL
MO
PA
CA
PA
MA
LA
CT
CO
CA
FL
IN
GA
VA
MA
CA
PA
SC
IL
NY
VA
VA
VA

Investment Description
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants

Investment Amount
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

Treasury Investment Remaining
After Capital Repayment

Capital Repayment Details

25,223,000
330,000,000
300,000,000
120,000,000
18,400,000
300,000,000
21,500,000
75,000,000
55,000,000
52,372,000
125,198,000
45,220,000
76,458,000
62,158,000
16,019,000
72,000,000
95,000,000
10,000,000
150,000,000
4,227,000
20,500,000
71,000,000
7,000,000
15,000,000
27,000,000
15,600,000
967,870,000
30,000,000
17,680,000
50,000,000
35,000,000
10,000,000
8,500,000
25,000,000
22,000,000
300,000,000
5,448,000
64,450,000
4,000,000
50,000,000
25,000,000
48,200,000
12,643,000
40,000,000
25,000,000
21,000,000
18,000,000
250,000,000
70,000,000
14,700,000
30,000,000
59,000,000

Pricing
Mechanism
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par

Capital
Repayment Date

Capital Repayment
Amount 6

Remaining
Capital Amount

Remaining
Investment
Description

3/31/2009

4

$

120,000,000

$

0

4

$

125,198,000

$

0

4

$

40,000,000

$

0

Warrants

10/28/2009

5

$

70,000,000

$

0

Final Disposition
Proceeds

Warrants

$

Warrants

5/27/2009

Disposition
Investment
Description

Warrants

5/5/2009

Final Disposition
Final
Disposition
Date

Warrants

6/24/2009

1,040,000

Page 6 of 28

Seller

Footnote

2
2
2
3
2
2
2
2
2
2
2
2
2
2

2
2
2
2
3
2
2
2

Purchase Date
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/19/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008

Name of Institution
Tidelands Bancshares, Inc
Bancorp Rhode Island, Inc.
Hawthorn Bancshares, Inc.
The Elmira Savings Bank, FSB
Alliance Financial Corporation
Heartland Financial USA, Inc.
Citizens First Corporation
FFW Corporation
Plains Capital Corporation
Tri-County Financial Corporation
OneUnited Bank
Patriot Bancshares, Inc.
Pacific City Financial Corporation
Marquette National Corporation
Exchange Bank
Monadnock Bancorp, Inc.
Bridgeview Bancorp, Inc.
Fidelity Financial Corporation
Patapsco Bancorp, Inc.
NCAL Bancorp
FCB Bancorp, Inc.
First Financial Bancorp
Bridge Capital Holdings
International Bancshares Corporation
First Sound Bank
M&T Bank Corporation
Emclaire Financial Corp.
Park National Corporation
Green Bankshares, Inc.
Cecil Bancorp, Inc.
Financial Institutions, Inc.
Fulton Financial Corporation
United Bancorporation of Alabama, Inc.
MutualFirst Financial, Inc.
BCSB Bancorp, Inc.
HMN Financial, Inc.
First Community Bank Corporation of America
Sterling Bancorp
Intervest Bancshares Corporation
Peoples Bancorp of North Carolina, Inc.
Parkvale Financial Corporation
Timberland Bancorp, Inc.
1st Constitution Bancorp
Central Jersey Bancorp
Western Illinois Bancshares Inc.
Saigon National Bank
Capital Pacific Bancorp
Uwharrie Capital Corp
Mission Valley Bancorp
The Little Bank, Incorporated
Pacific Commerce Bank
Citizens Community Bank

Purchase Details

City
Mt. Pleasant
Providence
Lee's Summit
Elmira
Syracuse
Dubuque
Bowling Green
Wabash
Dallas
Waldorf
Boston
Houston
Los Angeles
Chicago
Santa Rosa
Peterborough
Bridgeview
Wichita
Dundalk
Los Angeles
Louisville
Cincinnati
San Jose
Laredo
Seattle
Buffalo
Emlenton
Newark
Greeneville
Elkton
Warsaw
Lancaster
Atmore
Muncie
Baltimore
Rochester
Pinellas Park
New York
New York
Newton
Monroeville
Hoquiam
Cranbury
Oakhurst
Monmouth
Westminster
Portland
Albemarle
Sun Valley
Kinston
Los Angeles
South Hill

State
SC
RI
MO
NY
NY
IA
KY
IN
TX
MD
MA
TX
CA
IL
CA
NH
IL
KS
MD
CA
KY
OH
CA
TX
WA
NY
PA
OH
TN
MD
NY
PA
AL
IN
MD
MN
FL
NY
NY
NC
PA
WA
NJ
NJ
IL
CA
OR
NC
CA
NC
CA
VA

Investment Description
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants

Investment Amount
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

Treasury Investment Remaining
After Capital Repayment

Capital Repayment Details

14,448,000
30,000,000
30,255,000
9,090,000
26,918,000
81,698,000
8,779,000
7,289,000
87,631,000
15,540,000
12,063,000
26,038,000
16,200,000
35,500,000
43,000,000
1,834,000
38,000,000
36,282,000
6,000,000
10,000,000
9,294,000
80,000,000
23,864,000
216,000,000
7,400,000
600,000,000
7,500,000
100,000,000
72,278,000
11,560,000
37,515,000
376,500,000
10,300,000
32,382,000
10,800,000
26,000,000
10,685,000
42,000,000
25,000,000
25,054,000
31,762,000
16,641,000
12,000,000
11,300,000
6,855,000
1,549,000
4,000,000
10,000,000
5,500,000
7,500,000
4,060,000
3,000,000

Pricing
Mechanism
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par

Capital
Repayment Date

Capital Repayment
Amount 6

Remaining
Capital Amount

Final Disposition

Remaining
Investment
Description

Final
Disposition
Date

Disposition
Investment
Description

Final Disposition
Proceeds

8/5/2009

4

$

30,000,000

$

0

Warrants

9/30/2009

Warrants

$

1,400,000

5/13/2009

4

$

26,918,000

$

0

Warrants

6/17/2009

Warrants

$

900,000

Page 7 of 28

Seller

Footnote

Purchase Date

2
2
2
2
2
2
2
2
2
2
2
2

12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/23/2008
12/31/2008
12/31/2008
12/31/2008
12/31/2008
12/31/2008
12/31/2008
12/31/2008
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009

2
1

2
2
2
2
2
3

Name of Institution
Seacoast Commerce Bank
TCNB Financial Corp.
Leader Bancorp, Inc.
Nicolet Bankshares, Inc.
Magna Bank
Western Community Bancshares, Inc.
Community Investors Bancorp, Inc.
Capital Bancorp, Inc.
Cache Valley Banking Company
Citizens Bancorp
Tennessee Valley Financial Holdings, Inc.
Pacific Coast Bankers' Bancshares
SunTrust Banks, Inc.
The PNC Financial Services Group Inc.
Fifth Third Bancorp
Hampton Roads Bankshares, Inc.
CIT Group Inc.
West Bancorporation, Inc.
First Banks, Inc.
Bank of America Corporation
FirstMerit Corporation
Farmers Capital Bank Corporation
Peapack-Gladstone Financial Corporation
Commerce National Bank
The First Bancorp, Inc.
Sun Bancorp, Inc.
Crescent Financial Corporation
American Express Company
Central Pacific Financial Corp.
Centrue Financial Corporation
Eastern Virginia Bankshares, Inc.
Colony Bankcorp, Inc.
Independent Bank Corp.
Cadence Financial Corporation
LCNB Corp.
Center Bancorp, Inc.
F.N.B. Corporation
C&F Financial Corporation
North Central Bancshares, Inc.
Carolina Bank Holdings, Inc.
First Bancorp
First Financial Service Corporation
Codorus Valley Bancorp, Inc.
MidSouth Bancorp, Inc.
First Security Group, Inc.
Shore Bancshares, Inc.
The Queensborough Company
American State Bancshares, Inc.
Security California Bancorp
Security Business Bancorp
Sound Banking Company
Mission Community Bancorp

Purchase Details

City
Chula Vista
Dayton
Arlington
Green Bay
Memphis
Palm Desert
Bucyrus
Rockville
Logan
Nevada City
Oak Ridge
San Francisco
Atlanta
Pittsburgh
Cincinnati
Norfolk
New York
West Des Moines
Clayton
Charlotte
Akron
Frankfort
Gladstone
Newport Beach
Damariscotta
Vineland
Cary
New York
Honolulu
St. Louis
Tappahannock
Fitzgerald
Rockland
Starkville
Lebanon
Union
Hermitage
West Point
Fort Dodge
Greensboro
Troy
Elizabethtown
York
Lafayette
Chattanooga
Easton
Louisville
Great Bend
Riverside
San Diego
Morehead City
San Luis Obispo

State
CA
OH
MA
WI
TN
CA
OH
MD
UT
CA
TN
CA
GA
PA
OH
VA
NY
IA
MO
NC
OH
KY
NJ
CA
ME
NJ
NC
NY
HI
MO
VA
GA
MA
MS
OH
NJ
PA
VA
IA
NC
NC
KY
PA
LA
TN
MD
GA
KS
CA
CA
NC
CA

Investment Description
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock

Investment Amount
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

Treasury Investment Remaining
After Capital Repayment

Capital Repayment Details

1,800,000
2,000,000
5,830,000
14,964,000
13,795,000
7,290,000
2,600,000
4,700,000
4,767,000
10,400,000
3,000,000
11,600,000
1,350,000,000
7,579,200,000
3,408,000,000
80,347,000
2,330,000,000
36,000,000
295,400,000
10,000,000,000
125,000,000
30,000,000
28,685,000
5,000,000
25,000,000
89,310,000
24,900,000
3,388,890,000
135,000,000
32,668,000
24,000,000
28,000,000
78,158,000
44,000,000
13,400,000
10,000,000
100,000,000
20,000,000
10,200,000
16,000,000
65,000,000
20,000,000
16,500,000
20,000,000
33,000,000
25,000,000
12,000,000
6,000,000
6,815,000
5,803,000
3,070,000
5,116,000

Pricing
Mechanism
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par

Capital
Repayment Date

Capital Repayment
Amount 6

Remaining
Capital Amount

Final Disposition

Remaining
Investment
Description

Final
Disposition
Date

Disposition
Investment
Description

Final Disposition
Proceeds

5/27/2009

Warrants

$

5,025,000

4/22/2009

4

$

125,000,000

$

0

Warrants

10/7/2009

4

$

5,000,000

$

0

Warrants

4/8/2009

4

$

89,310,000

$

0

Warrants

5/27/2009

Warrants

$

2,100,000

6/17/2009

4

$

3,388,890,000

$

0

Warrants

7/29/2009

Warrants

$

340,000,000

4/22/2009

4

$

78,158,000

$

0

Warrants

5/27/2009

Warrants

$

2,200,000

10/21/2009

4

$

13,400,000

$

0

Warrants

9/9/2009

4

$

100,000,000

$

0

Warrants

4/15/2009

4

$

25,000,000

$

0

Warrants

Page 8 of 28

Seller

Name of Institution

Purchase Details

City

State

Investment Description

Treasury Investment Remaining
After Capital Repayment

Capital Repayment Details

Investment Amount

Pricing
Mechanism

Footnote

Purchase Date

2
2
2
2
2
2
2
2
2
2

1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/9/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009
1/16/2009

Redwood Financial Inc.
Surrey Bancorp
Independence Bank
Valley Community Bank
Rising Sun Bancorp
Community Trust Financial Corporation
GrandSouth Bancorporation
Texas National Bancorporation
Congaree Bancshares, Inc.
New York Private Bank & Trust Corporation
Home Bancshares, Inc.
Washington Banking Company
New Hampshire Thrift Bancshares, Inc.
Bar Harbor Bankshares
Somerset Hills Bancorp
SCBT Financial Corporation
S&T Bancorp
ECB Bancorp, Inc.
First BanCorp
Texas Capital Bancshares, Inc.
Yadkin Valley Financial Corporation
Carver Bancorp, Inc
Citizens & Northern Corporation
MainSource Financial Group, Inc.
MetroCorp Bancshares, Inc.
United Bancorp, Inc.
Old Second Bancorp, Inc.
Pulaski Financial Corp
OceanFirst Financial Corp.
Community 1st Bank
TCB Holding Company, Texas Community Bank
Centra Financial Holdings, Inc.
First Bankers Trustshares, Inc.
Pacific Coast National Bancorp
Community Bank of the Bay
Redwood Capital Bancorp
Syringa Bancorp
Idaho Bancorp
Puget Sound Bank
United Financial Banking Companies, Inc.
Dickinson Financial Corporation II
The Baraboo Bancorporation
Bank of Commerce
State Bankshares, Inc.
BNCCORP, Inc.
First Manitowoc Bancorp, Inc.

Redwood Falls
Mount Airy
East Greenwich
Pleasanton
Rising Sun
Ruston
Greenville
Jacksonville
Cayce
New York
Conway
Oak Harbor
Newport
Bar Harbor
Bernardsville
Columbia
Indiana
Engelhard
San Juan
Dallas
Elkin
New York
Wellsboro
Greensburg
Houston
Tecumseh
Aurora
Creve Coeur
Toms River
Roseville
The Woodlands
Morgantown
Quincy
San Clemente
Oakland
Eureka
Boise
Boise
Bellevue
Vienna
Kansas City
Baraboo
Charlotte
Fargo
Bismarck
Manitowoc

MN
NC
RI
CA
MD
LA
SC
TX
SC
NY
AR
WA
NH
ME
NJ
SC
PA
NC
PR
TX
NC
NY
PA
IN
TX
MI
IL
MO
NJ
CA
TX
WV
IL
CA
CA
CA
ID
ID
WA
VA
MO
WI
NC
ND
ND
WI

Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

2,995,000
2,000,000
1,065,000
5,500,000
5,983,000
24,000,000
9,000,000
3,981,000
3,285,000
267,274,000
50,000,000
26,380,000
10,000,000
18,751,000
7,414,000
64,779,000
108,676,000
17,949,000
400,000,000
75,000,000
36,000,000
18,980,000
26,440,000
57,000,000
45,000,000
20,600,000
73,000,000
32,538,000
38,263,000
2,550,000
11,730,000
15,000,000
10,000,000
4,120,000
1,747,000
3,800,000
8,000,000
6,900,000
4,500,000
5,658,000
146,053,000
20,749,000
3,000,000
50,000,000
20,093,000
12,000,000

Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par

1/16/2009
1/16/2009
1/16/2009
1/23/2009

Southern Bancorp, Inc.
Morrill Bancshares, Inc.
Treaty Oak Bancorp, Inc.
1st Source Corporation

Arkadelphia
Merriam
Austin
South Bend

AR
KS
TX
IN

Preferred Stock
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Warrants

$
$
$
$

11,000,000
13,000,000
3,268,000
111,000,000

Capital
Repayment Date

Final Disposition

Remaining
Investment
Description

Final
Disposition
Date

Capital Repayment
Amount 6

Remaining
Capital Amount

$
$

7,414,000
64,779,000

$
$

0
0

Final Disposition
Proceeds

6/24/2009
6/24/2009

Warrants
Warrants

Disposition
Investment
Description

Warrants
Warrants

$
$

275,000
1,400,000

4/15/2009

Preferred Stock

2,

$

750,000

5/27/2009

Preferred Stock

2,

$

600,000

Par
Par
Par
Par

3

2
2
2
2
2
3
2
2
2
2
2
2
2
2
2
2
2
3
2
2

5/20/2009
5/20/2009

4

5/13/2009

4

$

75,000,000

$

0

Warrants

3/31/2009

4

$

15,000,000

$

0

Preferred Stock

2

8/12/2009

4

$

12,500,000

$

Preferred Stock

2

5/27/2009

4

$

12,000,000

$

Preferred Stock

2

4

37,500,000
0

Page 9 of 28

Seller

Name of Institution

Footnote

Purchase Date

2
2

1/23/2009
1/23/2009
1/23/2009
1/23/2009
1/23/2009
1/23/2009

Princeton National Bancorp, Inc.
AB&T Financial Corporation
First Citizens Banc Corp
WSFS Financial Corporation
Commonwealth Business Bank
Seaside National Bank & Trust

2

1/23/2009

CalWest Bancorp

2
2
2
2
2
2
2
2
2
2
2
2
2
2
2

1/23/2009
1/23/2009
1/23/2009
1/23/2009
1/23/2009
1/23/2009
1/23/2009
1/23/2009
1/23/2009
1/23/2009
1/23/2009
1/23/2009
1/23/2009
1/23/2009
1/23/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009

Fresno First Bank
First ULB Corp.
Alarion Financial Services, Inc.
Midland States Bancorp, Inc.
Moscow Bancshares, Inc.
Farmers Bank
California Oaks State Bank
Pierce County Bancorp
Calvert Financial Corporation
Liberty Bancshares, Inc.
Crosstown Holding Company
BankFirst Capital Corporation
Southern Illinois Bancorp, Inc.
FPB Financial Corp.
Stonebridge Financial Corp.
Peoples Bancorp Inc.
Anchor BanCorp Wisconsin Inc.
Parke Bancorp, Inc.
Central Virginia Bankshares, Inc.
Flagstar Bancorp, Inc.
Middleburg Financial Corporation
Peninsula Bank Holding Co.
PrivateBancorp, Inc.
Central Valley Community Bancorp
Plumas Bancorp
Stewardship Financial Corporation
Oak Ridge Financial Services, Inc.
First United Corporation
Community Partners Bancorp
Guaranty Federal Bancshares, Inc.
Annapolis Bancorp, Inc.
DNB Financial Corporation
Firstbank Corporation
Valley Commerce Bancorp
Greer Bancshares Incorporated
Ojai Community Bank
Adbanc, Inc
Beach Business Bank
Legacy Bancorp, Inc.
First Southern Bancorp, Inc.
Country Bank Shares, Inc.
Katahdin Bankshares Corp.
Rogers Bancshares, Inc.

2
2
2
2
2
3
2
2
2
2

Purchase Details

City
Princeton
Gastonia
Sandusky
Wilmington
Los Angeles
Orlando
Rancho Santa
Margarita
Fresno
Oakland
Ocala
Effingham
Moscow
Windsor
Thousand Oaks
Tacoma
Ashland
Jonesboro
Blaine
Macon
Carmi
Hammond
West Chester
Marietta
Madison
Sewell
Powhatan
Troy
Middleburg
Palo Alto
Chicago
Fresno
Quincy
Midland Park
Oak Ridge
Oakland
Middletown
Springfield
Annapolis
Downingtown
Alma
Visalia
Greer
Ojai
Ogallala
Manhattan Beach
Milwaukee
Boca Raton
Milford
Houlton
Little Rock

State
IL
NC
OH
DE
CA
FL

Investment Description

Investment Amount

Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants

$
$
$
$
$
$

CA

Preferred Stock w/ Exercised Warrants

CA
CA
FL
IL
TN
VA
CA
WA
MO
AR
MN
MS
IL
LA
PA
OH
WI
NJ
VA
MI
VA
CA
IL
CA
CA
NJ
NC
MD
NJ
MO
MD
PA
MI
CA
SC
CA
NE
CA
WI
FL
NE
ME
AR

Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants

Treasury Investment Remaining
After Capital Repayment

Capital Repayment Details
Pricing
Mechanism

25,083,000
3,500,000
23,184,000
52,625,000
7,701,000
5,677,000
4,656,000
1,968,000
4,900,000
6,514,000
10,189,000
6,216,000
8,752,000
3,300,000
6,800,000
1,037,000
57,500,000
10,650,000
15,500,000
5,000,000
3,240,000
10,973,000
39,000,000
110,000,000
16,288,000
11,385,000
266,657,000
22,000,000
6,000,000
243,815,000
7,000,000
11,949,000
10,000,000
7,700,000
30,000,000
9,000,000
17,000,000
8,152,000
11,750,000
33,000,000
7,700,000
9,993,000
2,080,000
12,720,000
6,000,000
5,498,000
10,900,000
7,525,000
10,449,000
25,000,000

Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par

Remaining
Capital Amount

$

$

Disposition
Investment
Description

Final Disposition
Proceeds

Par

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

Capital Repayment
Amount 6

Final Disposition
Final
Disposition
Date

Par
Par
Par
Par
Par
Par

$

Capital
Repayment Date

Remaining
Investment
Description

4/22/2009

4

4,900,000

0

Preferred Stock

2

4/22/2009

Preferred Stock

2,

$

245,000

Page 10 of 28

Seller

Footnote

Purchase Date

2
2
2
2
2
2
2, 13 10/30/2009
2
2
2
2
2
2
2

1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009

Purchase Details

Name of Institution
UBT Bancshares, Inc.
Bankers' Bank of the West Bancorp, Inc.
W.T.B. Financial Corporation
AMB Financial Corp.
Goldwater Bank, N.A.
Equity Bancshares, Inc.

City

State

Marysville
Denver
Spokane
Munster
Scottsdale
Wichita

KS
CO
WA
IN
AZ
KS

Investment Description

Investment Amount

Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants

$
$
$
$
$
$

Pricing
Mechanism

8,950,000
12,639,000
110,000,000
3,674,000
2,568,000
8,750,000

2
2
2

Capital
Repayment Date

Capital Repayment
Amount 6

Remaining
Capital Amount

$

$

Remaining
Investment
Description

Final Disposition
Final
Disposition
Date

Disposition
Investment
Description

Final Disposition
Proceeds

Par
Par
Par
Par
Par
Par

1/30/2009

WashingtonFirst Bankshares, Inc.

Reston

VA

Preferred Stock w/ Exercised Warrants

$

6,633,000

Par

1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
1/30/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/6/2009
2/13/2009

Central Bancshares, Inc.
Hilltop Community Bancorp, Inc.
Northway Financial, Inc.
Monument Bank
Metro City Bank
F & M Bancshares, Inc.
First Resource Bank
MidWestOne Financial Group, Inc.
Lakeland Bancorp, Inc.
Monarch Community Bancorp, Inc.
The First Bancshares, Inc.
Carolina Trust Bank
Alaska Pacific Bancshares, Inc.
PGB Holdings, Inc.
The Freeport State Bank
Stockmens Financial Corporation
US Metro Bank
First Express of Nebraska, Inc.
Mercantile Capital Corp.
Citizens Commerce Bancshares, Inc.
Liberty Financial Services, Inc.
Lone Star Bank
First Market Bank, FSB
Banner County Ban Corporation
Centrix Bank & Trust
Todd Bancshares, Inc.
Georgia Commerce Bancshares, Inc.
First Bank of Charleston, Inc.
F & M Financial Corporation
The Bank of Currituck
CedarStone Bank
Community Holding Company of Florida, Inc.
Hyperion Bank
Pascack Community Bank
First Western Financial, Inc.
QCR Holdings, Inc.

Houston
Summit
Berlin
Bethesda
Doraville
Trezevant
Exton
Iowa City
Oak Ridge
Coldwater
Hattiesburg
Lincolnton
Juneau
Chicago
Harper
Rapid City
Garden Grove
Gering
Boston
Versailles
New Orleans
Houston
Richmond
Harrisburg
Bedford
Hopkinsville
Atlanta
Charleston
Salisbury
Moyock
Lebanon
Miramar Beach
Philadelphia
Westwood
Denver
Moline

TX
NJ
NH
MD
GA
TN
PA
IA
NJ
MI
MS
NC
AK
IL
KS
SD
CA
NE
MA
KY
LA
TX
VA
NE
NH
KY
GA
WV
NC
NC
TN
FL
PA
NJ
CO
IL

Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Warrants

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

5,800,000
4,000,000
10,000,000
4,734,000
7,700,000
4,609,000
2,600,000
16,000,000
59,000,000
6,785,000
5,000,000
4,000,000
4,781,000
3,000,000
301,000
15,568,000
2,861,000
5,000,000
3,500,000
6,300,000
5,645,000
3,072,000
33,900,000
795,000
7,500,000
4,000,000
8,700,000
3,345,000
17,000,000
4,021,000
3,564,000
1,050,000
1,552,000
3,756,000
8,559,000
38,237,000

Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par

2/13/2009

3
2
2
2
2
2
2
3
2
2
2
2
2
2
2
2
2
2
2
2
2
2

Treasury Investment Remaining
After Capital Repayment

Capital Repayment Details

Westamerica Bancorporation

San Rafael

CA

Preferred Stock w/ Warrants

$

83,726,000

Par

2/13/2009
2/13/2009
2/13/2009
2/13/2009
2/13/2009
2/13/2009
2/13/2009

The Bank of Kentucky Financial Corporation
PremierWest Bancorp
Carrollton Bancorp
FNB United Corp.
First Menasha Bancshares, Inc.
1st Enterprise Bank
DeSoto County Bank

Crestview Hills
Medford
Baltimore
Asheboro
Neenah
Los Angeles
Horn Lake

KY
OR
MD
NC
WI
CA
MS

Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants

$
$
$
$
$
$
$

34,000,000
41,400,000
9,201,000
51,500,000
4,797,000
4,400,000
1,173,000

Par
Par
Par
Par
Par
Par
Par

9/2/2009

41,863,000

41,863,000

Preferred Stock w/
Warrants

Page 11 of 28

Seller

Footnote

Purchase Date

2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2

2/13/2009
2/13/2009
2/13/2009
2/13/2009
2/13/2009
2/13/2009
2/13/2009
2/13/2009
2/13/2009
2/13/2009
2/13/2009
2/13/2009
2/13/2009
2/13/2009
2/13/2009
2/13/2009
2/13/2009
2/13/2009
2/13/2009
2/13/2009
2/20/2009
2/20/2009
2/20/2009
2/20/2009
2/20/2009
2/20/2009
2/20/2009
2/20/2009
2/20/2009
2/20/2009
2/20/2009
2/20/2009
2/20/2009
2/20/2009
2/20/2009
2/20/2009
2/20/2009
2/20/2009
2/20/2009
2/20/2009
2/20/2009
2/20/2009
2/20/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009

2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2

2
2
2
2
2

Name of Institution
Security Bancshares of Pulaski County, Inc.
State Capital Corporation
BankGreenville
Corning Savings and Loan Association
Financial Security Corporation
ColoEast Bankshares, Inc.
Santa Clara Valley Bank, N.A.
Reliance Bancshares, Inc.
Regional Bankshares, Inc.
Peoples Bancorp
First Choice Bank
Gregg Bancshares, Inc.
Hometown Bancshares, Inc.
Midwest Regional Bancorp, Inc.
Bern Bancshares, Inc.
Northwest Bancorporation, Inc.
Liberty Bancshares, Inc.
F&M Financial Corporation
Meridian Bank
Northwest Commercial Bank
Royal Bancshares of Pennsylvania, Inc.
First Merchants Corporation
Northern States Financial Corporation
Sonoma Valley Bancorp
Guaranty Bancorp, Inc.
The Private Bank of California
Lafayette Bancorp, Inc.
Liberty Shares, Inc.
White River Bancshares Company
United American Bank
Crazy Woman Creek Bancorp, Inc.
First Priority Financial Corp.
Mid-Wisconsin Financial Services, Inc.
Market Bancorporation, Inc.
Hometown Bancorp of Alabama, Inc.
Security State Bancshares, Inc.
CBB Bancorp
BancPlus Corporation
Central Community Corporation
First BancTrust Corporation
Premier Service Bank
Florida Business BancGroup, Inc.
Hamilton State Bancshares
Lakeland Financial Corporation
First M&F Corporation
Southern First Bancshares, Inc.
Integra Bank Corporation
Community First Inc.
BNC Financial Group, Inc.
California Bank of Commerce
Columbine Capital Corp.
National Bancshares, Inc.

Purchase Details

City
Waynesville
Greenwood
Greenville
Corning
Basin
Lamar
Santa Paula
Frontenac
Hartsville
Lynden
Cerritos
Ozark
Corbin
Festus
Bern
Spokane
Springfield
Clarksville
Devon
Lakewood
Narberth
Muncie
Waukegan
Sonoma
Woodsville
Los Angeles
Oxford
Hinesville
Fayetteville
San Mateo
Buffalo
Malvern
Medford
New Market
Oneonta
Charleston
Cartersville
Ridgeland
Temple
Paris
Riverside
Tampa
Hoschton
Warsaw
Kosciusko
Greenville
Evansville
Columbia
New Canaan
Lafayette
Buena Vista
Bettendorf

State
MO
MS
SC
AR
WY
CO
CA
MO
SC
WA
CA
MO
KY
MO
KS
WA
MO
TN
PA
WA
PA
IN
IL
CA
NH
CA
MS
GA
AR
CA
WY
PA
WI
MN
AL
MO
GA
MS
TX
IL
CA
FL
GA
IN
MS
SC
IN
TN
CT
CA
CO
IA

Investment Description
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants

Capital Repayment Details

Investment Amount
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

2,152,000
15,000,000
1,000,000
638,000
5,000,000
10,000,000
2,900,000
40,000,000
1,500,000
18,000,000
2,200,000
825,000
1,900,000
700,000
985,000
10,500,000
21,900,000
17,243,000
6,200,000
1,992,000
30,407,000
116,000,000
17,211,000
8,653,000
6,920,000
5,450,000
1,998,000
17,280,000
16,800,000
8,700,000
3,100,000
4,579,000
10,000,000
2,060,000
3,250,000
12,500,000
2,644,000
48,000,000
22,000,000
7,350,000
4,000,000
9,495,000
7,000,000
56,044,000
30,000,000
17,299,000
83,586,000
17,806,000
4,797,000
4,000,000
2,260,000
24,664,000

Pricing
Mechanism

Capital
Repayment Date

Capital Repayment
Amount 6

Treasury Investment Remaining
After Capital Repayment
Remaining
Capital Amount

Remaining
Investment
Description

Final Disposition
Final
Disposition
Date

Disposition
Investment
Description

Final Disposition
Proceeds

Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par

Page 12 of 28

Seller

Footnote

Purchase Date

2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2

2/27/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009
2/27/2009
3/6/2009
3/6/2009
3/6/2009
3/6/2009
3/6/2009
3/6/2009
3/6/2009
3/6/2009
3/6/2009
3/6/2009
3/6/2009
3/6/2009
3/6/2009
3/6/2009
3/6/2009
3/6/2009
3/6/2009
3/6/2009
3/6/2009
3/6/2009
3/6/2009
3/6/2009
3/13/2009
3/13/2009
3/13/2009
3/13/2009
3/13/2009
3/13/2009
3/13/2009
3/13/2009
3/13/2009
3/13/2009

3
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2

3
2
2
2
2

Name of Institution
First State Bank of Mobeetie
Ridgestone Financial Services, Inc.
Community Business Bank
D.L. Evans Bancorp
TriState Capital Holdings, Inc.
Green City Bancshares, Inc.
First Gothenburg Bancshares, Inc.
Green Circle Investments, Inc.
Private Bancorporation, Inc.
Regent Capital Corporation
Central Bancorp, Inc.
Medallion Bank
PSB Financial Corporation
Avenue Financial Holdings, Inc.
Howard Bancorp, Inc.
FNB Bancorp
The Victory Bank
Catskill Hudson Bancorp, Inc
Midtown Bank & Trust Company
HCSB Financial Corporation
First Busey Corporation
First Federal Bancshares of Arkansas, Inc.
Citizens Bancshares Corporation
ICB Financial
First Texas BHC, Inc.
Farmers & Merchants Bancshares, Inc.
Blue Ridge Bancshares, Inc.
First Reliance Bancshares, Inc.
Merchants and Planters Bancshares, Inc.
First Southwest Bancorporation, Inc.
Germantown Capital Corporation, Inc.
BOH Holdings, Inc.
AmeriBank Holding Company
Highlands Independent Bancshares, Inc.
Pinnacle Bank Holding Company, Inc.
Blue River Bancshares, Inc.
Marine Bank & Trust Company
Community Bancshares of Kansas, Inc.
Regent Bancorp, Inc.
Park Bancorporation, Inc.
PeoplesSouth Bancshares, Inc.
First Place Financial Corp.
Salisbury Bancorp, Inc.
First Northern Community Bancorp
Discover Financial Services
Provident Community Bancshares, Inc.
First American International Corp.
BancIndependent, Inc.
Haviland Bancshares, Inc.
1st United Bancorp, Inc.
Madison Financial Corporation

Purchase Details

City
Mobeetie
Brookfield
West Sacramento
Burley
Pittsburgh
Green City
Gothenburg
Clive
Minneapolis
Nowata
Garland
Salt Lake City
Many
Nashville
Ellicott City
South San Francisco
Limerick
Rock Hill
Atlanta
Loris
Urbana
Harrison
Atlanta
Ontario
Fort Worth
Houston
Independence
Florence
Toone
Alamosa
Germantown
Houston
Collinsville
Sebring
Orange City
Shelbyville
Vero Beach
Goff
Davie
Madison
Colquitt
Warren
Lakeville
Dixon
Riverwoods
Rock Hill
Brooklyn
Sheffield
Haviland
Boca Raton
Richmond

State
TX
WI
CA
ID
PA
MO
NE
IA
MN
OK
TX
UT
LA
TN
MD
CA
PA
NY
GA
SC
IL
AR
GA
CA
TX
TX
MO
SC
TN
CO
TN
TX
OK
FL
FL
IN
FL
KS
FL
WI
GA
OH
CT
CA
IL
SC
NY
AL
KS
FL
KY

Investment Description
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
Preferred Stock
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants

Capital Repayment Details

Investment Amount
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

731,000
10,900,000
3,976,000
19,891,000
23,000,000
651,000
7,570,000
2,400,000
4,960,000
2,655,000
22,500,000
11,800,000
9,270,000
7,400,000
5,983,000
12,000,000
541,000
3,000,000
5,222,000
12,895,000
100,000,000
16,500,000
7,462,000
6,000,000
13,533,000
11,000,000
12,000,000
15,349,000
1,881,000
5,500,000
4,967,000
10,000,000
2,492,000
6,700,000
4,389,000
5,000,000
3,000,000
500,000
9,982,000
23,200,000
12,325,000
72,927,000
8,816,000
17,390,000
1,224,558,000
9,266,000
17,000,000
21,100,000
425,000
10,000,000
3,370,000

Pricing
Mechanism

Capital
Repayment Date

Capital Repayment
Amount 6

Treasury Investment Remaining
After Capital Repayment
Remaining
Capital Amount

Remaining
Investment
Description

Final Disposition
Final
Disposition
Date

Disposition
Investment
Description

Final Disposition
Proceeds

Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par

Page 13 of 28

Seller

Name of Institution

Purchase Details

City

State

Investment Description

Capital Repayment Details

Investment Amount

Pricing
Mechanism

Footnote

Purchase Date

2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2

3/13/2009
3/13/2009
3/13/2009
3/13/2009
3/13/2009
3/13/2009
3/13/2009
3/13/2009
3/13/2009
3/20/2009
3/20/2009
3/20/2009
3/20/2009
3/20/2009
3/20/2009
3/20/2009
3/20/2009
3/20/2009
3/20/2009
3/27/2009
3/27/2009
3/27/2009
3/27/2009
3/27/2009

First National Corporation
St. Johns Bancshares, Inc.
Blackhawk Bancorp, Inc.
IBW Financial Corporation
Butler Point, Inc.
Bank of George
Moneytree Corporation
Sovereign Bancshares, Inc.
First Intercontinental Bank
Heritage Oaks Bancorp
Community First Bancshares Inc.
First NBC Bank Holding Company
First Colebrook Bancorp, Inc.
Kirksville Bancorp, Inc.
Peoples Bancshares of TN, Inc
Premier Bank Holding Company
Citizens Bank & Trust Company
Farmers & Merchants Financial Corporation
Farmers State Bankshares, Inc.
SBT Bancorp, Inc.
CSRA Bank Corp.
Trinity Capital Corporation
Clover Community Bankshares, Inc.
Pathway Bancorp

Strasburg
St. Louis
Beloit
Washington
Catlin
Las Vegas
Lenoir City
Dallas
Doraville
Paso Robles
Union City
New Orleans
Colebrook
Kirksville
Madisonville
Tallahassee
Covington
Argonia
Holton
Simsbury
Wrens
Los Alamos
Clover
Cairo

VA
MO
WI
DC
IL
NV
TN
TX
GA
CA
TN
LA
NH
MO
TN
FL
LA
KS
KS
CT
GA
NM
SC
NE

Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

13,900,000
3,000,000
10,000,000
6,000,000
607,000
2,672,000
9,516,000
18,215,000
6,398,000
21,000,000
20,000,000
17,836,000
4,500,000
470,000
3,900,000
9,500,000
2,400,000
442,000
700,000
4,000,000
2,400,000
35,539,000
3,000,000
3,727,000

3/27/2009

Colonial American Bank

West Conshohocken

PA

Preferred Stock w/ Exercised Warrants

$

574,000

3/27/2009
3/27/2009
3/27/2009

MS Financial, Inc.
Triad Bancorp, Inc.
Alpine Banks of Colorado

Kingwood
Frontenac
Glenwood Springs

TX
MO
CO

Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants

$
$
$

7,723,000
3,700,000
70,000,000

3/27/2009
3/27/2009
3/27/2009
3/27/2009
3/27/2009
4/3/2009
4/3/2009
4/3/2009
4/3/2009
4/3/2009
4/3/2009
4/3/2009
4/3/2009
4/3/2009
4/3/2009
4/10/2009
4/10/2009
4/10/2009
4/10/2009
4/10/2009
4/17/2009
4/17/2009
4/17/2009

Naples Bancorp, Inc.
CBS Banc-Corp.
IBT Bancorp, Inc.
Spirit BankCorp, Inc.
Maryland Financial Bank
First Capital Bancorp, Inc.
Tri-State Bank of Memphis
Fortune Financial Corporation
BancStar, Inc.
Titonka Bancshares, Inc
Millennium Bancorp, Inc.
TriSummit Bank
Prairie Star Bancshares, Inc.
Community First Bancshares, Inc.
BCB Holding Company, Inc.
City National Bancshares Corporation
First Business Bank, N.A.
SV Financial, Inc.
Capital Commerce Bancorp, Inc.
Metropolitan Capital Bancorp, Inc.
Bank of the Carolinas Corporation
Penn Liberty Financial Corp.
Tifton Banking Company

Naples
Russellville
Irving
Bristow
Towson
Glen Ellen
Memphis
Arnold
Festus
Titonka
Edwards
Kingsport
Olathe
Harrison
Theodore
Newark
San Diego
Sterling
Milwaukee
Chicago
Mocksville
Wayne
Tifton

FL
AL
TX
OK
MD
VA
TN
MO
MO
IA
CO
TN
KS
AR
AL
NJ
CA
IL
WI
IL
NC
PA
GA

Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Warrants
Preferred Stock
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

4,000,000
24,300,000
2,295,000
30,000,000
1,700,000
10,958,000
2,795,000
3,100,000
8,600,000
2,117,000
7,260,000
2,765,000
2,800,000
12,725,000
1,706,000
9,439,000
2,211,000
4,000,000
5,100,000
2,040,000
13,179,000
9,960,000
3,800,000

Disposition
Investment
Description

Final Disposition
Proceeds

Par
Par
Par

2
2
2
2
2

Remaining
Capital Amount

Final Disposition
Final
Disposition
Date

Par

2
2
2

Capital Repayment
Amount 6

Remaining
Investment
Description

Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par

2

Capital
Repayment Date

Treasury Investment Remaining
After Capital Repayment

Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par

2, 3
2
2
2
2
2
2
2
2
3
2
2
2
2
2
2

Page 14 of 28

Seller

Purchase Details

Name of Institution

City

State

Footnote

Purchase Date

2
2
2
2
2
2
2
2
2
2
2
2
2

4/17/2009
4/17/2009
4/17/2009
4/24/2009
4/24/2009
4/24/2009
4/24/2009
4/24/2009
4/24/2009
4/24/2009
4/24/2009
4/24/2009
4/24/2009
4/24/2009

Patterson Bancshares, Inc
BNB Financial Services Corporation
Omega Capital Corp.
Mackinac Financial Corporation
Birmingham Bloomfield Bancshares, Inc
Vision Bank - Texas
Oregon Bancorp, Inc.
Peoples Bancorporation, Inc.
Indiana Bank Corp.
Business Bancshares, Inc.
Standard Bancshares, Inc.
York Traditions Bank
Grand Capital Corporation
Allied First Bancorp, Inc.

8

4/24/2009

Frontier Bancshares, Inc.

Austin

TX

2
2
2
2

5/1/2009
5/1/2009
5/1/2009
5/1/2009
5/1/2009

Village Bank and Trust Financial Corp
CenterBank
Georgia Primary Bank
Union Bank & Trust Company
HPK Financial Corporation

Midlothian
Milford
Atlanta
Oxford
Chicago

VA
OH
GA
NC
IL

8

5/1/2009

OSB Financial Services, Inc.

Orange

TX

8

5/1/2009

Security State Bank Holding-Company

Jamestown

ND

2
2
2

5/8/2009
5/8/2009
5/8/2009

Highlands State Bank
One Georgia Bank
Gateway Bancshares, Inc.

Vernon
Atlanta
Ringgold

NJ
GA
GA

8

5/8/2009

Freeport Bancshares, Inc.

Freeport

IL

8

5/8/2009

Investors Financial Corporation of Pettis County, Inc. Sedalia

MO

8

5/8/2009

Sword Financial Corporation

Horicon

WI

3, 8
2
2
2
2
2
2
2
3, 8

5/8/2009
5/15/2009
5/15/2009
5/15/2009
5/15/2009
5/15/2009
5/15/2009
5/15/2009
5/15/2009
5/15/2009

Premier Bancorp, Inc.
Mercantile Bank Corporation
Northern State Bank
Western Reserve Bancorp, Inc
Community Financial Shares, Inc.
Worthington Financial Holdings, Inc.
First Community Bancshares, Inc
Southern Heritage Bancshares, Inc.
Foresight Financial Group, Inc.
IBC Bancorp, Inc.

Wilmette
Grand Rapids
Closter
Medina
Glen Ellyn
Huntsville
Overland Park
Cleveland
Rockford
Chicago

IL
MI
NJ
OH
IL
AL
KS
TN
IL
IL

8

5/15/2009

Boscobel Bancorp, Inc

Boscobel

WI

8

5/15/2009

Brogan Bankshares, Inc.

Kaukauna

WI

8

5/15/2009

Riverside Bancshares, Inc.

Little Rock

AR

8

5/15/2009

Deerfield Financial Corporation

Deerfield

WI

8

5/15/2009

Market Street Bancshares, Inc.

Mt. Vernon

2

5/22/2009

The Landrum Company

Columbia

Patterson
New York
Lakewood
Manistique
Birmingham
Richardson
Salem
Easley
Dana
Clayton
Hickory Hills
York
Tulsa
Oswego

LA
NY
CO
MI
MI
TX
OR
SC
IN
MO
IL
PA
OK
IL

IL
MO

Investment Description

Capital Repayment Details

Investment Amount

Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Subordinated Debentures w/ Exercised
Warrants

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

3,000,000

$
$
$
$
$

14,738,000
2,250,000
4,500,000
3,194,000
4,000,000
6,100,000

$

10,750,000
3,091,000
5,500,000
6,000,000

Par
Par
Par

$

3,000,000

Par

$

4,000,000

Par

$

13,644,000

Par

Subordinated Debentures
Preferred Stock w/ Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Subordinated Debentures
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants

$
$
$
$
$
$
$
$
$
$

6,784,000
21,000,000
1,341,000
4,700,000
6,970,000
2,720,000
14,800,000
4,862,000
15,000,000
4,205,000

Par
Par
Par
Par
Par
Par
Par
Par
Par
Par

$

5,586,000

Par

$

2,400,000

Par

$

1,100,000

Par

$

2,639,000

Final Disposition
Proceeds

Par

$
$
$

Remaining
Capital Amount

Disposition
Investment
Description

Par

Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants

Capital Repayment
Amount 6

Final Disposition
Final
Disposition
Date

Par
Par
Par
Par
Par

$

Capital
Repayment Date

Remaining
Investment
Description

Par

Preferred Stock w/ Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants

Par

Preferred Stock w/ Exercised Warrants

3,690,000
7,500,000
2,816,000
11,000,000
1,635,000
1,500,000
3,216,000
12,660,000
1,312,000
15,000,000
60,000,000
4,871,000
4,000,000
3,652,000

Pricing
Mechanism

Treasury Investment Remaining
After Capital Repayment

Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par

$

20,300,000

Par

$

15,000,000

Par

Page 15 of 28

Seller

Purchase Details

Name of Institution

City

State

Footnote

Purchase Date

2
2
2
2
2
2

5/22/2009
5/22/2009
5/22/2009
5/22/2009
5/22/2009
5/22/2009

First Advantage Bancshares Inc.
Fort Lee Federal Savings Bank
Blackridge Financial, Inc.
Illinois State Bancorp, Inc.
Universal Bancorp
Franklin Bancorp, Inc.

Coon Rapids
Fort Lee
Fargo
Chicago
Bloomfield
Washington

MN
NJ
ND
IL
IN
MO

8

5/22/2009

Commonwealth Bancshares, Inc.

Louisville

KY

8

5/22/2009

Premier Financial Corp

Dubuque

IA

8

5/22/2009

F & C Bancorp, Inc.

Holden

MO

8

5/22/2009

Diamond Bancorp, Inc.

Washington

MO

8

5/22/2009

United Bank Corporation

Barnesville

GA

2
2
2
2
2

5/29/2009
5/29/2009
5/29/2009
5/29/2009
5/29/2009
5/29/2009

Community Bank Shares of Indiana, Inc.
American Premier Bancorp
CB Holding Corp.
Citizens Bancshares Co.
Grand Mountain Bancshares, Inc.
Two Rivers Financial Group

New Albany
Arcadia
Aledo
Chillicothe
Granby
Burlington

IN
CA
IL
MO
CO
IA

8

5/29/2009

Fidelity Bancorp, Inc

Baton Rouge

LA

8

5/29/2009

Chambers Bancshares, Inc.

Danville

AR

2

6/5/2009

Covenant Financial Corporation

Clarksdale

MS

8

6/5/2009

First Trust Corporation

New Orleans

LA

8, 10

6/5/2009

OneFinancial Corporation

Little Rock

AR

2
2, 10
2
2, 10
2

6/12/2009
6/12/2009
6/12/2009
6/12/2009
6/12/2009

Berkshire Bancorp, Inc.
First Vernon Bancshares, Inc.
SouthFirst Bancshares, Inc.
Virginia Company Bank
Enterprise Financial Services Group, Inc.

Wyomissing
Vernon
Sylacauga
Newport News
Allison Park

PA
AL
AL
VA
PA

8, 10

6/12/2009

First Financial Bancshares, Inc.

Lawrence

KS

8

6/12/2009

River Valley Bancorporation, Inc.

Wausau

WI

2
2, 10

6/19/2009
6/19/2009

Merchants and Manufacturers Bank Corporation
RCB Financial Corporation

Joliet
Rome

IL
GA

8

6/19/2009

Manhattan Bancshares, Inc.

Manhattan

IL

8, 10

6/19/2009

Biscayne Bancshares, Inc.

Coconut Grove

FL

8

6/19/2009

Duke Financial Group, Inc.

Minneapolis

MN

8

6/19/2009

Farmers Enterprises, Inc.

Great Bend

KS

8

6/19/2009

Century Financial Services Corporation

Santa Fe

NM

8

6/19/2009

NEMO Bancshares Inc.

Madison

MO

3, 8

6/19/2009

University Financial Corp, Inc.

St. Paul

MN

8

6/19/2009

Suburban Illinois Bancorp, Inc.

Elmhurst

IL

Investment Description

Capital Repayment Details

Investment Amount

Pricing
Mechanism

Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants

$
$
$
$
$
$

1,177,000
1,300,000
5,000,000
6,272,000
9,900,000
5,097,000
20,400,000
6,349,000

Preferred Stock w/ Exercised Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants

$

5,000,000
17,969,000

Par

$

17,300,000

Par

Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants

$
$
$
$
$

2,892,000
6,000,000
2,760,000
4,700,000
4,000,000

Par
Par
Par
Par
Par

Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants

Final Disposition
Proceeds

Par

$

Disposition
Investment
Description

Par

Preferred Stock w/ Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants

Remaining
Capital Amount

Final Disposition
Final
Disposition
Date

Par

$

Capital Repayment
Amount 6

Remaining
Investment
Description

Par
Par
Par
Par
Par
Par

$

Capital
Repayment Date

Treasury Investment Remaining
After Capital Repayment

Subordinated Debentures
Subordinated Debentures w/ Exercised
Warrants

$

2,993,000

Par

$

20,445,000

Par

$

14,400,000

Par

$
$
$
$
$
$

19,468,000
1,800,000
4,114,000
24,990,000
3,076,000
12,000,000

Par
Par
Par
Par
Par
Par

$

3,942,000

Par

$

19,817,000

Par

$

3,756,000

Par

$

15,000,000

Par

$
$

3,510,000
8,900,000

Par
Par

$

2,639,000

Par

$

6,400,000

Par

$

12,000,000

Par

$

12,000,000

Par

$

10,000,000

Par

$

2,330,000

Par

$

11,926,000

Par

$

15,000,000

Par

Page 16 of 28

Seller

Purchase Details

Name of Institution

City

State

Footnote

Purchase Date

2
2, 10
2
2, 10
2
2
2, 10
2, 3, 10
2
2
2

6/26/2009
6/26/2009
6/26/2009
6/26/2009
6/26/2009
6/26/2009
6/26/2009
6/26/2009
6/26/2009
6/26/2009
6/26/2009
6/26/2009

Hartford Financial Services Group, Inc.
Fidelity Resources Company
Waukesha Bankshares, Inc.
FC Holdings, Inc.
Security Capital Corporation
First Alliance Bancshares, Inc.
Gulfstream Bancshares, Inc.
Gold Canyon Bank
M&F Bancorp, Inc.
Metropolitan Bank Group, Inc.
NC Bancorp, Inc.
Alliance Bancshares, Inc.

Hartford
Plano
Waukesha
Houston
Batesville
Cordova
Stuart
Gold Canyon
Durham
Chicago
Chicago
Dalton

CT
TX
WI
TX
MS
TN
FL
AZ
NC
IL
IL
GA

8

6/26/2009

Stearns Financial Services, Inc.

St. Cloud

MN

8

6/26/2009

Signature Bancshares, Inc.

Dallas

TX

8

6/26/2009

Fremont Bancorporation

Fremont

CA

8

6/26/2009

Alliance Financial Services Inc.

Saint Paul

MN

7/10/2009

Lincoln National Corporation

Radnor

2, 10
2
2
2,3

7/10/2009
7/17/2009
7/17/2009
7/17/2009

Bancorp Financial, Inc.
Brotherhood Bancshares, Inc.
SouthCrest Financial Group, Inc.
Harbor Bankshares Corporation

Oak Brook
Kansas City
Fayetteville
Baltimore

8

7/17/2009

First South Bancorp, Inc.

Lexington

TN

8

7/17/2009

Great River Holding Company

Baxter

MN

8, 10

7/17/2009

Plato Holdings Inc.

Saint Paul

MN

2, 10
2

7/24/2009
7/24/2009
7/24/2009

Yadkin Valley Financial Corporation
Community Bancshares, Inc.
Florida Bank Group, Inc.

Elkin
Kingman
Tampa

NC
AZ
FL

8

7/24/2009

First American Bank Corporation

Elk Grove Village

Investment Description

Capital Repayment Details

Investment Amount

Pricing
Mechanism

Preferred Stock w/ Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants

$
$
$
$
$
$
$
$
$
$
$
$

3,400,000,000
3,000,000
5,625,000
21,042,000
17,388,000
3,422,000
7,500,000
1,607,000
11,735,000
71,526,000
6,880,000
2,986,000
24,900,000
1,700,000
35,000,000
12,000,000

Par

PA

Preferred Stock w/ Warrants

$

950,000,000

Par

IL
KS
GA
MD

Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants

$
$
$
$

13,669,000
11,000,000
12,900,000
6,800,000

Par
Par
Par
Par

$

50,000,000

Par

$

8,400,000

Par

$

2,500,000

Par

Preferred Stock w/ Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Subordinated Debentures w/ Exercised
Warrants

$
$
$

13,312,000
3,872,000
20,471,000

Par
Par
Par

$

50,000,000

Par

Preferred Stock w/ Exercised Warrants
Subordinated Debentures w/ Exercised
Warrants

$

7,000,000

Par

$

3,742,000

Par

Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Subordinated Debentures w/ Exercised
Warrants

$
$
$
$

20,000,000
50,236,000
1,004,000
4,000,000

Par
Par
Par
Par

$

5,000,000

Par

Preferred Stock
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Subordinated Debentures w/ Exercised
Warrants

$
$
$

3,223,000
20,699,000
16,015,000

Par
Par
Par

$

9,720,000

Final Disposition
Proceeds

Par

$

Disposition
Investment
Description

Par

$

Remaining
Capital Amount

Final Disposition
Final
Disposition
Date

Par

$

Capital Repayment
Amount 6

Remaining
Investment
Description

Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par
Par

$

Capital
Repayment Date

Treasury Investment Remaining
After Capital Repayment

Par

IL

2

7/31/2009

Chicago Shore Corporation

Chicago

IL

8, 10

7/31/2009

Financial Services of Winger, Inc.

Winger

MN

2
2
2
2

8/7/2009
8/7/2009
8/14/2009
8/21/2009

The ANB Corporation
U.S. Century Bank
Bank Financial Services, Inc.
KS Bancorp, Inc.

Terrell
Miami
Eden Prarie
Smithfield

TX
FL
MN
NC

8

8/21/2009

AmFirst Financial Services, Inc.

McCook

NE

2, 3
2
2, 10

8/28/2009
8/28/2009
8/28/2009

First Independence Corporation
First Guaranty Bancshares, Inc.
CoastalSouth Bancshares, Inc.

Detroit
Hammond
Hilton Head Island

MI
LA
SC

8, 10

8/28/2009

TCB Corporation

Greenwood

SC

Page 17 of 28

Seller

Purchase Details

Name of Institution

City

State

Footnote

Purchase Date

8, 10

9/4/2009
9/11/2009

Pathfinder Bancorp, Inc.

Oswego

2

9/11/2009

Community Bancshares of Mississippi, Inc.

Brandon

2, 10
2, 10

9/11/2009
9/11/2009

Heartland Bancshares, Inc.
PFSB Bancorporation, Inc.

Franklin
Pigeon Falls

IN
WI

The State Bank of Bartley

Bartley

Investment Description

Capital Repayment Details

Investment Amount

Pricing
Mechanism

Subordinated Debentures w/ Exercised
Warrants

$

NY

Preferred Stock w/ Warrants

$

6,771,000

Preferred Stock w/ Exercised Warrants

$52,000,000
$7,000,000
$1,500,000
$7,500,000

Final Disposition
Proceeds

Par

$5,976,000
$10,000,000
$10,103,000
$3,300,000

Disposition
Investment
Description

Par
Par

Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures
Subordinated Debentures w/ Exercised
Warrants
Subordinated Debentures w/ Exercised
Warrants

Remaining
Capital Amount

Final Disposition
Final
Disposition
Date

Par

Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Subordinated Debentures w/ Exercised
Warrants

Capital Repayment
Amount 6

Remaining
Investment
Description

Par

MS

Capital
Repayment Date

Treasury Investment Remaining
After Capital Repayment

Par
Par
Par
Par

NE

8

9/11/2009

First Eagle Bancshares, Inc.

Hanover Park

2, 10
2, 10
2, 10
2

9/18/2009
9/18/2009
9/25/2009
9/25/2009

IA Bancorp, Inc.
HomeTown Bankshares Corporation
Heritage Bankshares, Inc.
Mountain Valley Bancshares, Inc.

Iselin
Roanoke
Norfolk
Cleveland

NJ
VA
VA
GA

IL

8

9/25/2009

Grand Financial Corporation

Hattiesburg

MS

3, 8

9/25/2009

Guaranty Capital Corporation

Belzoni

MS

8, 10

9/25/2009

GulfSouth Private Bank

Destin

FL

8, 10

9/25/2009

Steele Street Bank Corporation

Denver

CO

2, 10
2, 10

10/2/2009
10/2/2009
10/23/2009

Premier Financial Bancorp, Inc.
Providence Bank
Regents Bancshares, Inc.

Huntington
Rocky Mount
Vancouver

WV
NC
WA

8
2
2, 10a

10/23/2009
10/30/2009
10/30/2009

Cardinal Bancorp II, Inc.
Randolph Bank & Trust Company
WashingtonFirst Bankshares, Inc.

Washington
Asheboro
Reston

MO

1,697,000

Par

$2,443,320

Par

$14,000,000

Par

$7,500,000

Par

$11,019,000

Par

$
$
$

22,252,000
4,000,000
12,700,000

Par
Par
Par

6,251,000
6,229,000
6,842,000

Par
Par
Par

204,675,847,320

NC

Preferred Stock w/ Warrants
Preferred Stock w/ Exercised Warrants
Preferred Stock w/ Exercised Warrants
Subordinated Debentures w/ Exercised
Warrants
Preferred Stock w/ Exercised Warrants

VA

Preferred Stock

$
$
$

Total Purchase Amount

$

Total Capital Repayment Amount

TOTAL TREASURY CPP INVESTMENT AMOUNT

$

$

70,805,427,000

133,870,420,320

1/ This transaction was included in previous Transaction Reports with Merrill Lynch & Co., Inc. listed as the qualifying institution and a 10/28/2008 transaction date, footnoted to indicate that settlement was deferred pending merger. The purchase of Merrill Lynch by Bank of America was completed on 1/1/2009, and this transaction under the CPP was
funded on 1/9/2009.
2/ Privately-held qualified financial institution; Treasury received a warrant to purchase additional shares of preferred stock (unless the institution is a CDFI), which it exercised immediately.
3/ To promote community development financial institutions (CDFIs), Treasury does not require warrants as part of its investment in certified CDFIs when the size of the investment is $50 million or less.
4/ Repayment pursuant to Title VII, Section 7001(g) of the American Recovery and Reinvestment Act of 2009.
5/ Redemption pursuant to a qualified equity offering.
6/ This amount does not include accrued and unpaid dividends, which must be paid at the time of capital repayment.
7/ The proceeds associated with the disposition of this investment do not include accrued and unpaid dividends.
8/ Subchapter S corporation; Treasury received a warrant to purchase additional subordinated debentures (unless the institution is a CDFI), which it exercised immediately.
9/ In its qualified equity offering, this institution raised more capital than Treasury’s original investment, therefore, the number of Treasury’s shares underlying the warrant was reduced by half.
10/ This institution participated in the expansion of CPP for small banks.
10a/ This institution received an additional investment through the expansion of CPP for small banks.
11/ Treasury has three separate investments in Citigroup Inc. ("Citigroup") under CPP, TIP, and AGP for a total of $49 billion. On 6/9/2009, Treasury entered into an agreement with Citigroup to exchange up to $25 billion of Treasury's investment in Fixed Rate Cumulative Perpetual Preferred Stock, Series H (CPP Shares) "dollar for dollar" in Citigroup's
Private and Public Exchange Offerings. On 7/23/2009 and 7/30/2009, Treasury exchanged a total of $25 billion of the CPP shares for Series M Common Stock Equivalent (“Series M”) and a warrant to purchase shares of common stock. On 9/11/2009, Series M automatically converted to 7,692,307,692 shares of common stock and the associated warrant
terminated on receipt of certain shareholder approvals.
12/ On 8/24/2009, Treasury exchanged its Series C Preferred Stock issued by Popular, Inc. for a like amount of non tax-deductible Trust Preferred Securities issued by Popular Capital Trust III, administrative trustee for Popular, Inc. Popular, Inc. paid a $13 million exchange fee in connection with this transaction.
13/ This institution converted to a bank holding company and Treasury exchanged its securities for a like amount of securities that comply with the CPP terms applicable to bank holding companies.

Page 18 of 28

AUTOMOTIVE INDUSTRY FINANCING PROGRAM
(Revised as of October 30, 2009)
Initial Investment

GMAC

Detroit, MI

Date
12/29/2008

City, State

Transaction
Type
Purchase

GMAC

5/21/2009

Purchase

GMAC

Seller

Description
Preferred Stock w/
Exercised Warrants
Convertible Preferred
Stock w/ Exercised
Warrants

Exchange/Transfer/Other Details
Pricing
Mechanism

Amount
$

5,000,000,000
7,500,000,000

Type

Pricing
Mechanism

Amount

Obligor

12/29/2008

Purchase

4/22/2009
General
Motors

Purchase

12/31/2008

Purchase

5/20/2009

Purchase

Detroit, MI
5/27/2009
6/3/2009

Purchase
Purchase

Debt Obligation
Debt Obligation w/
Additional Note
Debt Obligation w/
Additional Note
Debt Obligation w/
Additional Note
Debt Obligation w/
Additional Note
Debt Obligation w/
Additional Note

884,024,131

Par

$ 13,400,000,000

$

Par

$

Par

2

$
$

2,000,000,000
4,000,000,000
360,624,198

$ 30,100,000,000

Par
Par
Par

5/29/2009
7/10/2009

4
5
6
8

7/10/2009
7/10/2009
7/10/2009
7/10/2009

Exchange for equity interest in
$
884,024,131
GMAC
Exchange for preferred and
$ 13,400,000,000
common stock in New GM
Exchange for preferred and
$ 2,000,000,000
common stock in New GM
Exchange for preferred and
$ 4,000,000,000
common stock in New GM
Exchange for preferred and
$
360,624,198
common stock in New GM
Exchange for preferred and
$ 22,041,706,310
common stock in New GM

N/A
N/A
N/A
N/A
N/A
N/A

7/10/2009

1/16/2009

P h
Purchase

Debt Obligation w/
Additional Note

$

1 500 000 000
1,500,000,000

P
Par

Transfer of debt to New GM

$

7,072,488,605

N/A

7/10/2009
Chrysler FinCo

Amount/Equity %

Date

Debt left at Old GM

$

985,805,085

N/A

3

Common Stock

35.4%

7
7 General Motors
Company
7 General Motors
Company
7 General Motors
Holdings LLC
9

10, 11
10, 11
11, 12

Preferred Stock

$

Common Stock

2,100,000,000
60.8%

Debt Obligation

$

7,072,488,605

Debt Obligation

$

7/10/2009

Partial
repayment

985,805,085

$

9 Motors Liquidation
Company

13

3/17/2009

5/18/2009
6/17/2009

Partial
repayment
Partial
repayment
Partial
repayment
Partial
repayment

$
$
$
$

7/14/2009

4/29/2009
4/29/2009
Chrylser

Auburn Hills,
MI

Chrysler Holding

Purchase

Chrysler Holding

Purchase

Chrysler Holding

5/1/2009

Purchase

Chrysler LLC

5/20/2009

Purchase

Chrysler LLC

5/27/2009

Purchase

Chrysler Group
LLC

Debt Obligation w/
Additional Note
Debt Obligation w/
Additional Note
Debt Obligation w/
Additional Note
Debt Obligation w/
Additional Note
Debt Obligation w/
Additional Note
Debt Obligation w/
Additional Note, Equity

Total Initial Investment Amount

$

4,000,000,000

$

-

$

280,130,642

$

-

$

6,642,000,000

Par

Transfer of debt to New
Chrysler

$

500,000,000

N/A

19

Chrysler Holding

20

Debt Obligation

$

Repayment

$

7/10/2009

6/10/2009

$

6,711,864,407

Repayment

$

Debt Obligation w/
3,499,055 Additional Note
Debt Obligation w/
31,810,122 Additional Note
Debt Obligation w/
51,136,084 Additional Note
Debt Obligation w/
44,357,710 Additional Note

$ 1,369,197,029
15,000,000

Additional Note

$

1 496 500 945
1,496,500,945

$

1,464,690,823

$

1,413,554,739

$

1,369,197,029

$

0

None

-

3,500,000,000

14
15

280,130,642 Additional Note

$

0

16

1,888,153,580

$

Par

Repayment

7/14/2009
Purchase

360,624,198 Debt Obligation

9

Farmington
Hills, MI

1/2/2009

Remaining
Investment
Amount/Equity %

3

4/17/2009
Chrysler
FinCo

Type

Remaining
Investment
Description

Par
GMAC

General Motors
Corporation
General Motors
Corporation
General Motors
Corporation
General Motors
Corporation
General Motors
Corporation
General Motors
Corporation

Description

Amount/
Proceeds

Par

$

Date

Payment or Disposition1

Treasury Investment After Exchange/Transfer/Other

N/A

17
18

6/10/2009

Issuance of equity in New
Chrysler

$ 77,554,932,551

$

-

N/A

Chrysler Group
LLC
Chrysler Group
LLC

19

Debt obligation
Common equity

$

7,142,000,000
9.9%
Total Payments

$ 2,155,754,840

Total Treasury Investment
Amount
$ 75,399,177,711

As used in this table and its footnotes:
"GMAC" refers to GMAC Inc., formerly known as GMAC LLC.
"Old GM" refers to General Motors Corporation, which is now known as Motors Liquidation Company.
"New GM" refers to General Motors Company, the company that purchased Old GM's assets on 7/10/2009 in a sale pursuant to section 363 of the Bankruptcy Code. See also footnote 11.
"Chrysler FinCo" refers to Chrysler Financial Services Americas LLC.
"Chrysler Holding" refers to CGI Holding LLC, the company formerly known as "Chrysler Holding LLC".
"Old Chrysler" refers to Chrysler LLC.
"New Chrysler" refers to Chrysler Group LLC, the company that purchased Old Chrysler's assets on 6/10/2009 in a sale pursuant to section 363 of the Bankruptcy Code.
Footnotes appear on the next page.

Page 19 of 28

1. Payment amount does not include accrued and unpaid interest on a debt obligation, which must be paid at the time of principal repayment.
2. Treasury committed to lend General Motors Corporation up to $1,000,000,000. The ultimate funding was dependent upon the level of investor participation in GMAC LLC's rights offering. The amount has been updated to reflect the final level of funding.
3. Pursuant to its rights under the loan agreement with Old GM reported on 12/29/2009, Treasury exchanged its $884 million loan to Old GM for a portion of Old GM’s common equity interest in GMAC. As a result of the exchange, Treasury holds a 35.4% common equity interest in GMAC. (See transactions marked by orange line in the table above.)
4. This transaction is an amendment to Treasury's 12/31/2008 agreement with Old GM (the "Old GM Loan"), which brought the total loan amount to $15,400,000,000.
5. This transaction was a further amendment to the Old GM Loan, which brought the total loan amount to $19,400,000,000.
6. This transaction was a further amendment to the Old GM Loan, which brought the total loan amount to $19,760,624,198. The $360,624,198 loan was used to capitalize GM Warranty LLC, a special purpose vehicle created by . On 7/10/2009, the principal amount was included in the $7.07 billion of debt assumed by the new GM, as explained in footnote 10.
7. On 7/10/2009, the principal amount outstanding under the Old GM Loan and interest accrued thereunder were extinguished and exchanged for privately placed preferred and common equity in New GM. (See green lines in the table above.)
8. Under the terms of the $33.3 billion debtor-in-possession credit agreement dated 6/3/2009 with Old GM (the "GM DIP Loan"), Treasury's commitment amount was $30.1 billion. The remaining $2.2 billion of the financing was provided by Canadian government entities. As of 7/09/2009, $30.1 billion of funds had been disbursed by Treasury.
9. On 7/10/2009, Treasury and Old GM amended the GM DIP Loan, and the principal amount and interest accrued thereunder were extinguished and exchanged for privately placed preferred and common equity in New GM, except for (i) $7.07 billion, which was assumed by New GM as a new obligation under the terms of a separate credit agreement between
Treasury and New GM (see transactions marked by green lines in table above) and (ii) $986 million, which remained a debt obligation of Old GM.
10. In total, for the exchange of the Old GM Loan and the GM DIP Loan (other than as explained in footnote 9), Treasury received $2.1 billion in preferred shares and 60.8% of the common shares of New GM. (See transactions marked by green lines in the table above.)
11. Pursuant to a corporate reorganization completed on or about 10/19/2009, the shareholders of New GM, including with respect to Treasury's preferred and common stock, became shareholders of General Motors Holding Company (the ultimate parent company of New GM), which was renamed "General Motors Company" on an equal basis to their
shareholdings in New GM, and New GM was converted to "General Motors LLC". General Motors LLC is a wholly owned subsidiary of General Motors Holdings LLC, and General Motors Holdings LLC is a wholly owned subsidiary of General Motors Company.
12. Pursuant to a corporate reorganization completed on 10/19/2009, Treasury's loan with New GM was assigned and assumed by General Motors Holdings LLC.
13. The loan was funded through Chrysler LB Receivables Trust, a special purpose vehicle created by Chrysler FinCo. The amount of $1,500,000,000 represents the maximum loan amount. The loan was incrementally funded until it reached the maximum amount of $1.5 billion on 4/9/2009.
14. This transaction was an amendment to Treasury's 1/2/2009 agreement with Chrysler Holding. As of 4/30/2009, Treasury's obligation to lend any funds committed under this amendment had terminated. No funds were disbursed.
15. The loan was used to capitalize Chrysler Warranty SPV LLC, a special purpose vehicle created by Old Chrysler.
16. This transaction was set forth in a credit agreement with Old Chrysler fully executed on 5/5/2009 following a term sheet executed on 5/1/2009 and made effective on 4/30/2009. Treasury's commitment was $3.04 billion of the total $4.1 billion debtor-in-possession credit facility (the "Chrysler DIP Loan"). As of 6/30/2009, Treasury's commitment to lend under
the Chrysler DIP Loan had terminated. The remaining principal amount reflects the final amount of funds disbursed under the Chrylser DIP Loan.
17. This transaction was an amendment to Treasury's commitment under the Chrysler DIP Loan, which increased Treasury's commitment by an amount $756,857,000 to a total of $3.8 billion under the Chrysler DIP Loan. As of 6/30/2009, Treasury's obligation to lend funds committed under the Chrysler DIP Loan had terminated.
18. This transaction, first reported based on a term sheet fully executed on 5/27/2009 for an amount up to $6.943 billion, was set forth in a credit agreement with New Chrysler fully executed on 6/10/2009. Under the terms of the credit agreement, Treasury made a new commitment to New Chrysler of up to $6.642 billion. The total loan amount is up to $7.142
billion including $500 million of debt assumed on 6/10/2009 from Chrysler Holding originally incurred under Treasury's 1/2/2009 credit agreement with Chrysler Holding. The debt obligations are secured by a first priority lien on the assets of New Chrysler. When the sale to new Chrysler was completed, Treasury acquired the rights to 9.85% of the common equity
in new Chrysler.
19. Pursuant to the agreement explained in footnote 18, $500 million of this debt obligation was assumed by New Chrysler.
20. Under the terms of an agreement dated 7/23/2009, Treasury agreed to hold the outstanding loans of Chrysler Holding in forbearance, and Chrysler Holding agreed to pay the greater of $1.375 billion or 40% of the equity value of Chrysler FinCo in the event it receives proceeds from Chrysler FinCo.

AUTOMOTIVE SUPPLIER SUPPORT PROGRAM
Seller
Name of Institution

Footnote

Date

1

4/9/2009

GM Supplier Receivables
LLC

4/9/2009

Chrysler Receivables SPV
LLC

2

City

State

Transaction Type

Wilmington

DE

Purchase

Wilmington

DE

Purchase
INITIAL TOTAL

Investment
Description
Debt
Obligation w/
Additional
Obligation w/
Additional
Note

Pricing Mechanism

$ 3,500,000,000

N/A

7/8/2009

3

$ 1,500,000,000

N/A

7/8/2009

3

$ 5,000,000,000

Adjustment Details
Adjustment
Adjusted Investment
Amount
Amount

Adjustment
Date

Investment
Amount

$ (1,000,000,000) $

2,500,000,000

$

1,000,000,000

(500,000,000) $

ADJUSTED TOTAL

$ 3,500,000,000

1/ The loan was funded through GM Supplier Receivables, LLC, a special purpose vehicle created by General Motors Corporation. The amount of $3,500,000,000 represents the maximum loan amount. The loan will be incrementally funded. The credit agreement was fully executed on 4/9/2009, but was made effective as of 4/3/2009.
General Motors Company assumed GM Supplier Receivables LLC on 7/10/2009.
2/ The loan was funded through Chrysler Receivables SPV LLC, a special purpose vehicle created by Chrysler LLC. The amount of $1,500,000,000 represents the maximum loan amount. The loan will be incrementally funded. The credit agreement was fully executed on 4/9/2009, but was made effective as of 4/7/2009. Chyrsler Group
LLC assumed Chrysler Receivables SPV LLC on 6/10/2009.
3/ Treasury issued notice to the institution of the permanent reduced commitment on 7/8/2009; the reduction was effective on 7/1/2009.

Page 20 of 28

TARGETED INVESTMENT PROGRAM
Seller
Footnote
1

12/31/2008
1/16/2009

Name of Institution

Date

City

Citigroup Inc.
New York
Bank of America Corporation Charlotte

State

Transaction
Type

NY
NC

Purchase
Purchase

Investment Description
Trust Preferred Securities w/
Warrants
Preferred Stock w/ Warrants

Investment Amount
$
$
$

TOTAL

20,000,000,000
20,000,000,000

Pricing
Mechanism
Par
Par

40,000,000,000

1/ Treasury has three separate investments in Citigroup Inc. ("Citigroup") under CPP, TIP, and AGP for a total of $49 billion. On 6/9/2009, Treasury entered into an agreement with Citigroup to exchange all of Treasury’s investments. On 7/30/2009, Treasury exchanged all of its Fixed Rate Cumulative Perpetual Preferred Stock, Series I (TIP Shares) “dollar for dollar” for Trust Preferred Securities.
ASSET GUARANTEE PROGRAM
Seller
Footnote

1, 2

1/16/2009

Name of Institution

Date

Citigroup Inc.

City

New York

State

Transaction
Type

NY

Guarantee

Investment Description

Guarantee Limit

Trust Preferred Securities w/
Warrants

$

5,000,000,000

$

TOTAL

Premium
Received
Preferred
Stock and
Warrants

5,000,000,000

1/ In consideration for the guarantee, Treasury received $4.03 billion of preferred stock, which pays 8% interest.
2/ Treasury has three separate investments in Citigroup Inc. ("Citigroup") under CPP, TIP, and AGP for a total of $49 billion. On 6/9/2009, Treasury entered into an agreement with Citigroup to exchange all of Treasury’s investments. On 7/30/2009, Treasury exchanged all of its Fixed Rate Cumulative Perpetual Preferred Stock Series G (AGP Shares), received as premium with the AGP agreement, “dollar for dollar” for Trust Preferred
Securities.
CONSUMER AND BUSINESS LENDING INITIATIVE INVESTMENT PROGRAM
Seller
Footnote
1

3/3/2009

Name of Institution

Date

TALF LLC

City
Wilmington

State

Transaction
Type

DE

Purchase

Investment Description

Investment Amount

Debt Obligation w/ Additional Note
TOTAL

$

20,000,000,000

$

Pricing
Mechanism
N/A

20,000,000,000

1/ The loan was funded through TALF LLC, a special purpose vehicle created by The Federal Reserve Bank of New York. The amount of $20,000,000,000 represents the maximum loan amount. The loan will be incrementally funded.

SYSTEMICALLY SIGNIFICANT FAILING INSTITUTIONS
Seller
Footnote
3

Name of Institution

Date
11/25/2008
4/17/2009

AIG
AIG

Purchase Details
City

New York
New York

State
NY
NY

Transaction
Type
Purchase
Purchase

Investment Description
Preferred Stock w/ Warrants
Preferred Stock w/ Warrants
TOTAL

Exchange Details

Investment Amount
$
$

40,000,000,000
29,835,000,000

$

Pricing
Mechanism
Par
Par

Date
4/17/2009

Transaction Type
Exchange

Investment Amount

Investment Description
Preferred Stock w/ Warrants

1

Pricing
Mechanism

69,835,000,000

$

40,000,000,000

Par

2

1/ On 4/17/2009, Treasury exchanged its Series D Fixed Rate Cumulative Preferred Shares for Series E Fixed Rate Non-Cumulative Preferred Shares with no change to Treasury's initial investment amount. In addition, in order for AIG to fully redeem the Series E Preferred Shares, it has an additional obligation to Treasury of $1,604,576,000 to reflect the cumulative unpaid dividends for the Series D Preferred Shares due to Treasury through
and including the exchange date.
2/ The investment price reflects Treasury's commitment to invest up to $30 billion less a reduction of $165 million representing retention payments AIG Financial Products made to its employees in March 2009.
3/ This transaction does not include AIG's commitment fee of an additional $165 million scheduled to be paid from its operating income in three equal installments over the five-year life of the facility.

Page 21 of 28

LEGACY SECURITIES PUBLIC-PRIVATE INVESTMENT PROGRAM (S-PPIP)

Footnote

Date

Transaction
Type

Seller
Name of Institution

City
Wilmington

Investment Description

Investment
Amount

Pricing
Mechanism

State

1

9/30/2009

UST/TCW Senior Mortgage Securities Fund, L.P.

2

9/30/2009

UST/TCW Senior Mortgage Securities Fund, L.P.

Wilmington

DE

1

9/30/2009

Invesco Legacy Securities Master Fund, L.P.

Wilmington

DE

2

9/30/2009

Invesco Legacy Securities Master Fund, L.P.

Wilmington

DE

1

10/1/2009

Wellington Management Legacy Securities PPIF Master Fund, LP

Wilmington

DE

2

10/1/2009

Wellington Management Legacy Securities PPIF Master Fund, LP

Wilmington

DE

Purchase

Debt Obligation w/ Contingent Proceeds

$2,222,222,222

Par

1

10/2/2009

AllianceBernstein Legacy Securities Master Fund, L.P.

Wilmington

DE

Purchase

Membership Interest

$1,111,111,111

Par

2

10/2/2009

AllianceBernstein Legacy Securities Master Fund, L.P.

Wilmington

DE

Purchase

Debt Obligation w/ Contingent Proceeds

$2,222,222,222

Par

1

10/2/2009

Blackrock PPIF, L.P.

Wilmington

DE

Purchase

Membership Interest

$1,111,111,111

Par

2

10/2/2009

Blackrock PPIF, L.P.

Wilmington

DE

Purchase

Debt Obligation w/ Contingent Proceeds

$2,222,222,222

Par

1

10/30/2009 AG GECC PPIF Master Fund, L.P.

Wilmington

DE

Purchase

Membership Interest

$1,111,111,111

Par

DE

Purchase

Debt Obligation w/ Contingent Proceeds

$2,222,222,222

Par

2

10/30/2009 AG GECC PPIF Master Fund, L.P.

Wilmington

DE

Purchase

Membership Interest

$1,111,111,111

Purchase

Debt Obligation w/ Contingent Proceeds

$2,222,222,222

Par

Purchase

Membership Interest

$1,111,111,111

Par

Purchase

Debt Obligation w/ Contingent Proceeds

$2,222,222,222

Par

Purchase

Membership Interest

$1,111,111,111

Par

TOTAL

Par

$19,999,999,998

1/ The equity amount may be incrementally funded. Investment amount represents Treasury's maximum obligation if the limited partners other than Treasury fund their maximum equity capital obligations.
2/ The loan may be incrementally funded. Investment amount represents Treasury's maximum obligation if Treasury and the limited partners other than Treasury fund 100% of their maximum equity obligations

Page 22 of 28

HOME AFFORDABLE MODIFICATION PROGRAM
Servicer Modifying Borrowers' Loans

Date

Name of Institution

City

State

Transaction
Type

Investment Description

Adjustment Details
Cap of Incentive Payments
on Behalf of Borrowers and
Adjustment
to Servicers &
Pricing
Date
Cap Adjustment Amount
Adjusted Cap
Lenders/Investors (Cap) 1 Mechanism

4/13/2009

Chase Home Finance, LLC

Iselin

NJ

Purchase

Financial Instrument for Home Loan Modifications

$

3,552,000,000

N/A

4/16/2009

Ocwen Financial Corporation, Inc.

West Palm Beach

FL

Purchase

Financial Instrument for Home Loan Modifications

$

659,000,000

N/A

4/17/2009

4/17/2009

4/20/2009

4/20/2009

4/24/2009

4/27/2009

5/1/2009

5/28/2009

Bank of America, N.A.

Countrywide Home Loans Servicing LP

Home Loan Services, Inc.

Wilshire Credit Corporation

Green Tree Servicing LLC

Carrington Mortgage Services, LLC

Aurora Loan Services, LLC

Nationstar Mortgage LLC

Simi Valley

Simi Valley

Pittsburgh

Beaverton

Saint Paul

Santa Ana

Littleton

Lewisville

CA

CA

PA

OR

MN

CA

CO

TX

Purchase

Purchase

Purchase

Purchase

Purchase

Purchase

Purchase

Purchase

Financial Instrument for Home Loan Modifications

Financial Instrument for Home Loan Modifications

Financial Instrument for Home Loan Modifications

Financial Instrument for Home Loan Modifications

Financial Instrument for Home Loan Modifications

Financial Instrument for Home Loan Modifications

Financial Instrument for Home Loan Modifications

Financial Instrument for Home Loan Modifications

$

$

$

$

$

$

$

$

798,900,000

1,864,000,000

319,000,000

366,000,000

156,000,000

195,000,000

798,000,000

101,000,000

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

2,475,080,000
1,017,650,000

$

2,537,240,000

$

3,554,890,000

6/17/2009

$

225,040,000

$

632,040,000

$

254,380,000

$

886,420,000

7/31/2009

$

(3,552,000,000) $

6/12/2009

$

(105,620,000) $

$

102,580,000

$

6/12/2009

$

5,540,000

$

$

162,680,000

$

6/12/2009

$

3,318,840,000

$

$

(717,420,000) $

6/12/2009

$

128,300,000

$

$

46,730,000

$

6/12/2009

$

87,130,000

$

$

(249,670,000) $

6/17/2009

$

(64,990,000) $

$

130,780,000

6/17/2009

$

(63,980,000) $

$

6/17/2009

$

(338,450,000) $

9/30/2009

N/A

$
$

9/30/2009

407,000,000

N/A

65,070,000

9/30/2009

$

633,000,000

N/A

384,650,000

9/30/2009

Financial Instrument for Home Loan Modifications

$

2,873,000,000

N/A

$

9/30/2009

Purchase

Financial Instrument for Home Loan Modifications

$

2,071,000,000

N/A

$

9/30/2009

TX

Purchase

Financial Instrument for Home Loan Modifications

$

376,000,000

6/12/2009

9/30/2009

Irving

PA

Purchase

Financial Instrument for Home Loan Modifications

$

$

9/30/2009

Saxon Mortgage Services, Inc.

Ft. Washington

IA

Purchase

Financial Instrument for Home Loan Modifications

$

9/30/2009

4/13/2009

GMAC Mortgage, Inc.

Des Moines

MO

Purchase

6/17/2009

9/30/2009

4/13/2009

Wells Fargo Bank, NA

O'Fallon

UT

6/12/2009

9/30/2009

4/13/2009

CitiMortgage, Inc.

Salt Lake City

$

9/30/2009

4/13/2009

Select Portfolio Servicing

6/12/2009
9/30/2009

4/13/2009

284,590,000

$

$

121,910,000

$

782,500,000

$

(991,580,000) $

1,079,420,000

$

(11,860,000) $

6/12/2009

$

16,140,000

$

9/30/2009

$

134,560,000

$

1,010,180,000

660,590,000

$

2,089,600,000

(462,990,000) $

2,410,010,000

90,990,000

$

$

Reason for Adjustment
Updated portfolio data from
servicer
Updated portfolio data from
servicer & HPDP initial cap
Updated portfolio data from
servicer
Updated portfolio data from
servicer & HPDP initial cap
Updated portfolio data from
servicer
Updated portfolio data from
servicer & HPDP initial cap
Updated portfolio data from
servicer
Updated portfolio data from
servicer & HPDP initial cap
Updated portfolio data from
servicer
Updated portfolio data from
servicer & HPDP initial cap

- Termination of SPA
Updated portfolio data from
553,380,000 servicer
Updated portfolio data from
655,960,000 servicer & HPDP initial cap
Updated portfolio data from
804,440,000 servicer
Updated portfolio data from
967,120,000 servicer & HPDP initial cap
Updated portfolio data from
5,182,840,000 servicer
Updated portfolio data from
4,465,420,000 servicer & HPDP initial cap
Updated portfolio data from
447,300,000 servicer
Updated portfolio data from
494,030,000 servicer & HPDP initial cap
Updated portfolio data from
453,130,000 servicer
Updated portfolio data from
203,460,000 servicer & HPDP initial cap
Updated portfolio data from
91,010,000 servicer
Updated portfolio data from
221,790,000 servicer & HPDP initial cap
Updated portfolio data from
131,020,000 servicer
Updated portfolio data from
222,010,000 servicer & HPDP initial cap
Updated portfolio data from
459,550,000 servicer
Updated portfolio data from
447,690,000 servicer & HPDP initial cap
Updated portfolio data from
117,140,000 servicer
Updated portfolio data from
251,700,000 servicer & HPDP initial cap

2

Page 23 of 28

Servicer Modifying Borrowers' Loans

Name of Institution

Date

6/12/2009 Residential Credit Solutions

City
Fort Worth

State
TX

Transaction
Type
Purchase

Investment Description

Adjustment Details
Cap of Incentive Payments
on Behalf of Borrowers and
Adjustment
to Servicers &
Pricing
Date
Cap Adjustment Amount
Adjusted Cap
Lenders/Investors (Cap) 1 Mechanism

Financial Instrument for Home Loan Modifications

$

19,400,000 N/A

9/30/2009

$

(1,860,000) $

6/17/2009 CCO Mortgage

Glen Allen

VA

Purchase

Financial Instrument for Home Loan Modifications

$

16,520,000 N/A

9/30/2009

$

6/17/2009 RG Mortgage Corporation

San Juan

PR

Purchase

Financial Instrument for Home Loan Modifications

$

57,000,000 N/A

9/30/2009

$

(11,300,000) $

13,070,000

$

6/19/2009

First Federal Savings and Loan

Port Angeles

WA

Purchase

Financial Instrument for Home Loan Modifications

$

770,000

N/A

6/19/2009

Wescom Central Credit Union

Anaheim

CA

Purchase

Financial Instrument for Home Loan Modifications

$

540,000

N/A

9/30/2009

$

330,000

6/26/2009

Citizens First Wholesale Mortgage Company

The Villages

FL

Purchase

Financial Instrument for Home Loan Modifications

$

30,000

N/A

9/30/2009

$

(10,000) $

6/26/2009

Technology Credit Union

San Jose

CA

Purchase

Financial Instrument for Home Loan Modifications

$

70,000

N/A

6/26/2009

National City Bank

Miamisburg

OH

Purchase

Financial Instrument for Home Loan Modifications

$

294,980,000

N/A

9/30/2009

$

315,170,000

$

7/1/2009

Wachovia Mortgage, FSB

Des Moines

IA

Purchase

Financial Instrument for Home Loan Modifications

$

634,010,000

N/A

9/30/2009

$

723,880,000

$

7/1/2009

Bayview Loan Servicing, LLC

Coral Gables

FL

Purchase

Financial Instrument for Home Loan Modifications

$

44,260,000

N/A

9/30/2009

$

23,850,000

$

7/10/2009

Lake National Bank

Mentor

OH

Purchase

Financial Instrument for Home Loan Modifications

$

100,000

N/A

9/30/2009

$

150,000

$

7/10/2009

IBM Southeast Employees' Federal Credit Union

Delray Beach

FL

Purchase

Financial Instrument for Home Loan Modifications

$

870,000

N/A

9/30/2009

$

(10,000) $

7/17/2009

MorEquity, Inc.

Evansville

IN

Purchase

Financial Instrument for Home Loan Modifications

$

23,480,000

N/A

9/30/2009

$

7/17/2009

PNC Bank, National Association

Pittsburgh

PA

Purchase

Financial Instrument for Home Loan Modifications

$

54,470,000

N/A

9/30/2009

$

7/17/2009

Farmers State Bank

West Salem

OH

Purchase

Financial Instrument for Home Loan Modifications

$

170,000

N/A

9/30/2009

$

(90,000) $

7/17/2009

ShoreBank

Chicago

IL

Purchase

Financial Instrument for Home Loan Modifications

$

1,410,000

N/A

9/30/2009

$

890,000

7/22/2009

American Home Mortgage Servicing, Inc

Coppell

TX

Purchase

Financial Instrument for Home Loan Modifications

$

1,272,490,000

N/A

9/30/2009

$

(53,670,000) $

7/22/2009

Mortgage Center, LLC

Southfield

MI

Purchase

Financial Instrument for Home Loan Modifications

$

4,210,000

N/A

9/30/2009

$

7/22/2009

Mission Federal Credit Union

San Diego

CA

Purchase

Financial Instrument for Home Loan Modifications

$

860,000

N/A

9/30/2009

$

(490,000) $

7/29/2009

First Bank

St. Louis

MO

Purchase

Financial Instrument for Home Loan Modifications

$

6,460,000

N/A

9/30/2009

$

(1,530,000) $

7/29/2009

Purdue Employees Federal Credit Union

West Lafayette

IN

Purchase

Financial Instrument for Home Loan Modifications

$

1,090,000

N/A

9/30/2009

$

(60,000) $

7/29/2009

Wachovia Bank, N.A.

Charlotte

NC

Purchase

Financial Instrument for Home Loan Modifications

$

85,020,000

N/A

9/30/2009

$

(37,700,000) $

7/31/2009

J.P.Morgan Chase Bank, NA

Lewisville

TX

Purchase

Financial Instrument for Home Loan Modifications

$

2,699,720,000

N/A

9/30/2009

$

(14,850,000) $

7/31/2009

EMC Mortgage Corporation

Lewisville

TX

Purchase

Financial Instrument for Home Loan Modifications

$

707,380,000

N/A

9/30/2009

$

(10,000) $

8/5/2009

Lake City Bank

Warsaw

IN

Purchase

Financial Instrument for Home Loan Modifications

$

420,000

N/A

9/30/2009

$

180,000

$

8/5/2009

Oakland Municipal Credit Union

Oakland

CA

Purchase

Financial Instrument for Home Loan Modifications

$

140,000

N/A

9/30/2009

$

290,000

$

Reason for Adjustment

Updated portfolio data from
17,540,000 servicer & HPDP initial cap
Updated portfolio data from
29,590,000 servicer & HPDP initial cap
Updated portfolio data from
45,700,000 servicer & HPDP initial cap

18,530,000

$

$

(36,240,000) $

1,780,000

$

$

8/5/2009

HomEq Servicing

North Highlands

CA

Purchase

Financial Instrument for Home Loan Modifications

$

674,000,000

N/A

9/30/2009

$

8/12/2009

Litton Loan Servicing LP

Houston

TX

Purchase

Financial Instrument for Home Loan Modifications

$

774,900,000

N/A

9/30/2009

$

(121,190,000) $

8/12/2009

PennyMac Loan Services, LLC

Calasbasa

CA

Purchase

Financial Instrument for Home Loan Modifications

$

6,210,000

N/A

9/30/2009

$

(1,200,000) $

8/12/2009

Servis One, Inc.

Titusville

PA

Purchase

Financial Instrument for Home Loan Modifications

$

29,730,000

N/A

9/30/2009

$

(25,510,000) $

313,050,000

$

Updated portfolio data from
870,000 servicer & HPDP initial cap
Updated portfolio data from
20,000 servicer & HPDP initial cap

Updated portfolio data from
610,150,000 servicer & HPDP initial cap
Updated portfolio data from
1,357,890,000 servicer & HPDP initial cap
Updated portfolio data from
68,110,000 servicer & HPDP initial cap
Updated portfolio data from
250,000 servicer & HPDP initial cap
Updated portfolio data from
860,000 servicer & HPDP initial cap
Updated portfolio data from
42,010,000 servicer & HPDP initial cap
Updated portfolio data from
18,230,000 servicer & HPDP initial cap
Updated portfolio data from
80,000 servicer & HPDP initial cap
Updated portfolio data from
2,300,000 servicer & HPDP initial cap
Updated portfolio data from
1,218,820,000 servicer & HPDP initial cap
Updated portfolio data from
5,990,000 servicer & HPDP initial cap
Updated portfolio data from
370,000 servicer & HPDP initial cap
Updated portfolio data from
4,930,000 servicer & HPDP initial cap
Updated portfolio data from
1,030,000 servicer & HPDP initial cap
Updated portfolio data from
47,320,000 servicer & HPDP initial cap
Updated portfolio data from
2,684,870,000 servicer & HPDP initial cap
Updated portfolio data from
707,370,000 servicer & HPDP initial cap
Updated portfolio data from
600,000 servicer & HPDP initial cap
Updated portfolio data from
430,000 servicer & HPDP initial cap
Updated portfolio data from
552,810,000 servicer & HPDP initial cap
Updated portfolio data from
1,087,950,000 servicer & HPDP initial cap
Updated portfolio data from
5,010,000 servicer & HPDP initial cap
Updated portfolio data from
4,220,000 servicer & HPDP initial cap

Page 24 of 28

Servicer Modifying Borrowers' Loans

Name of Institution

Date

City
Pasadena

State

Transaction
Type

CA

Purchase

8/28/2009

OneWest Bank

8/28/2009

Stanford Federal Credit Union

Palo Alto

CA

8/28/2009

RoundPoint Mortgage Servicing Corporation

Charlotte

NC

9/2/2009

Horicon Bank

Horicon

WI

9/2/2009

Vantium Capital, Inc.

Plano

TX

9/9/2009

Central Florida Educators Federal Credit Union

Lake Mary

FL

9/9/2009

U.S. Bank National Association

Owensboro

KY

9/9/2009

CUC Mortgage Corporation

Albany

NY

9/11/2009

ORNL Federal Credit Union

Oak Ridge

TN

9/11/2009

Allstate Mortgage Loans & Investments, Inc.

Ocala

FL

9/11/2009

Metropolitan National Bank

Little Rock

AR

9/11/2009

Franklin Credit Management Corporation

Jersey City

NJ

Investment Description

Adjustment Details
Cap of Incentive Payments
on Behalf of Borrowers and
Adjustment
to Servicers &
Pricing
Date
Cap Adjustment Amount
Adjusted Cap
Lenders/Investors (Cap) 1 Mechanism

Financial Instrument for Home Loan Modifications

$

Purchase

Financial Instrument for Home Loan Modifications

Purchase

Financial Instrument for Home Loan Modifications

Purchase

Financial Instrument for Home Loan Modifications

$

560,000

Purchase

Financial Instrument for Home Loan Modifications

$

6,000,000

Purchase

Financial Instrument for Home Loan Modifications

$

1,250,000

Purchase

Financial Instrument for Home Loan Modifications

$

Purchase

Financial Instrument for Home Loan Modifications

$

Purchase

Financial Instrument for Home Loan Modifications

Purchase

Financial Instrument for Home Loan Modifications

Purchase

Financial Instrument for Home Loan Modifications

$

280,000

Purchase

Financial Instrument for Home Loan Modifications

$

27,510,000

145,800,000

$

Reason for Adjustment

668,440,000

N/A

10/2/2009

$

814,240,000 HPDP initial cap

$

300,000

N/A

10/2/2009

$

70,000

$

370,000 HPDP initial cap

$

570,000

N/A

10/2/2009

$

130,000

$

700,000 HPDP initial cap

N/A

10/2/2009

$

130,000

$

690,000 HPDP initial cap

N/A

10/2/2009

$

1,310,000

$

7,310,000 HPDP initial cap

N/A

10/2/2009

$

280,000

$

1,530,000 HPDP initial cap

114,220,000

N/A

10/2/2009

$

24,920,000

$

139,140,000 HPDP initial cap

4,350,000

N/A

10/2/2009

$

950,000

$

5,300,000 HPDP initial cap

$

2,070,000

N/A

10/2/2009

$

460,000

$

2,530,000 HPDP initial cap

$

250,000

N/A

10/2/2009

$

60,000

$

310,000 HPDP initial cap

N/A

10/2/2009

$

70,000

$

350,000 HPDP initial cap

N/A

10/2/2009

$

6,010,000

$

33,520,000 HPDP initial cap

9/16/2009

Bay Federal Credit Union

Capitola

CA

Purchase

Financial Instrument for Home Loan Modifications

$

410,000

N/A

10/2/2009

$

90,000

$

500,000 HPDP initial cap

9/23/2009

AMS Servicing, LLC

Buffalo

NY

Purchase

Financial Instrument for Home Loan Modifications

$

4,390,000

N/A

10/2/2009

$

960,000

$

5,350,000 HPDP initial cap

9/23/2009

Schools Financial Credit Union

Sacramento

CA

Purchase

Financial Instrument for Home Loan Modifications

$

390,000

N/A

10/2/2009

$

90,000

$

480,000 HPDP initial cap

9/23/2009

Glass City Federal Credit Union

Maumee

OH

Purchase

Financial Instrument for Home Loan Modifications

$

230,000

N/A

10/2/2009

$

60,000

$

290,000 HPDP initial cap

9/23/2009

Central Jersey Federal Credit Union

Woodbridge

NJ

Purchase

Financial Instrument for Home Loan Modifications

$

30,000

N/A

10/2/2009

$

10,000

$

40,000 HPDP initial cap

9/23/2009

Yadkin Valley Bank

Elkin

NC

Purchase

Financial Instrument for Home Loan Modifications

$

240,000

N/A

10/2/2009

$

60,000

$

300,000 HPDP initial cap

9/25/2009

SEFCU

10/2/2009

$

100,000

$

540,000 HPDP initial cap

Total Cap Adjustments

$

3,835,780,000

$

27,349,230,000

Albany

NY

Purchase

Financial Instrument for Home Loan Modifications

$

440,000

N/A

10/14/2009 Great Lakes Credit Union

North Chicago

IL

Purchase

Financial Instrument for Home Loan Modifications

$

570,000

N/A

10/14/2009 Mortgage Clearing Corporation

Tulsa

OK

Purchase

Financial Instrument for Home Loan Modifications

$

4,860,000

N/A

10/21/2009 United Bank Mortgage Corporation

Grand Rapids

MI

Purchase

Financial Instrument for Home Loan Modifications

$

410,000

N/A

10/23/2009 Bank United

Miami Lakes

FL

Purchase

Financial Instrument for Home Loan Modifications

$

93,660,000

N/A

10/23/2009 IC Federal Credit Union

Fitchburg

MA

Purchase

Financial Instrument for Home Loan Modifications

$

760,000

N/A

Harleysville

PA

Purchase

Financial Instrument for Home Loan Modifications

$

1,070,000

N/A

10/28/2009 Members Mortgage Company, Inc

Woburn

MA

Purchase

Financial Instrument for Home Loan Modifications

$

510,000

N/A

10/30/2009 DuPage Credit Union

Naperville

IL

Purchase

Financial Instrument for Home Loan Modifications

$

70,000

N/A

Total Initial Cap $

23,513,450,000

10/28/2009 Harleysville National Bank & Trust Company

TOTAL CAP

1/ The Cap of Incentive Payments represents the potential total amount allocated to each servicer and includes the maximum amount allotted for all payments on behalf of borrowers and payments to servicers and lenders/investors.
The Cap is subject to adjustment based on the total amount allocated to the program and individual servicer usage for borrower modifications. Each adjustment to the Cap is reflected under Adjustment Details.
2/ On July 31, 2009, the SPA with Chase Home Finance, LLC was terminated and superseded by new SPAs with J.P. Morgan Chase Bank, NA and EMC Mortgage Corporation.

Page 25 of 28

U.S. Treasury Department
Office of Financial Stability
Troubled Asset Relief Program
Projected Costs and Liabilities [Section 105(a)(3)(E)]
For Period Ending October 31, 2009

Type of Expense/Liability

Amount

None

Note: Treasury interprets this reporting requirement as
applicable to costs and liabilities related to insurance contracts
entered into under the provisions of section 102 of the EESA;
and the single insurance contract with Citigroup is structured
such that no costs are anticipated, i.e. the currently
anticipated cash inflows of the contract slightly exceed
anticipated cash outflows.

U.S. Treasury Department
Office of Financial Stability
Troubled Asset Relief Program
Programmatic Operating Expenses [Section 105(a)(3)(F)]
For Period Ending October 31, 2009

Type of Expense
Compensation for financial agents
and legal firms

Amount

$133,268,063

U.S. Treasury Department
Office of Financial Stability
Troubled Asset Relief Program
Description of Vehicles Established [Section 105(a)(3)(H)]
For Period Ending October 31, 2009

Date

Vehicle
None

Description


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102