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Troubled Assets Relief Program Monthly 105(a) Report – November 2009 December 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 Monthly 105(a) Report November 2009 Treasury is pleased to present the monthly 105(a) report to Congress for November 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 17 Appendix 1: Descriptions of TARP Programs 18 How Treasury Exercises its Voting Rights Appendix 2: November Financial Statement 30 32 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. 1 Monthly 105(a) Report November 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 November 2009 under Treasury’s TARP programs: • The U.S. Treasury received $1.89 billion in dividend and interest payments from all TARP Programs. Total dividends, interest and fee payments received since inception of TARP through November 2009 are approximately $12 billion. • 9 banks repaid $228.62 million of Treasury investments, bringing the total amount of CPP investments repaid to $71.03 billion. Also in November, General Motors agreed, subject to certain conditions, to begin quarterly repayments in December 2009 of its $6.7 billion loan. It also repaid $140 million of the loan it received in connection with the Auto Supplier Support Program. • Treasury announced it would conduct public offerings using a modified Dutch auction methodology to sell its warrant positions in Capital One Financial Corporation, JP Morgan Chase & Co., and TCF Financial Corporation. Treasury expects to conduct similar auctions in the future. 1 • The cumulative total of trial modifications reached 697,026, and 7 new mortgage servicers signed up to participate in the Home Affordable Mortgage Modification Program (HAMP), bringing the total to 78. On November 30, Treasury announced a nationwide campaign to help borrowers who are in the HAMP trial modification phase to convert to permanent modifications. HAMP also issued implementing guidelines for the Home Affordable Foreclosure Alternatives Program (HAFA). • The Legacy Securities Public-Private Investment Program completed an initial closing with RLJ Western Asset Management, L.P. and Marathon Asset Management, L.P., partnering with Blaylock Robert Van L.L.C. • Treasury made new CPP investments in 7 small banks totaling $38.74 million. • Treasury closed the Capital Assistance Program. Of the 19 banks that participated in the Supervisory Capital Assistance Program, 18 demonstrated no need for additional capital or fulfilled their need in the private market. GMAC is the only financial institution that was not able to raise sufficient capital. GMAC and Treasury are discussing whether 1 On December 3, 2009, Treasury conducted the auction of warrants in Capital One Financial Corporation in a registered public offering at a clearing price of $11.75 per warrant. 2 Monthly 105(a) Report November 2009 Treasury would make an additional investment, which was contemplated in May and which would be funded under the Automotive Industry Financing Program. 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: • Approximately $550 billion has been planned for particular TARP programs, as shown in Figure 1. – Of that amount, approximately $476 billion has been committed to specific institutions under signed contracts. – Approximately $370 billion has been paid out by Treasury under those contracts. Figure 1 shows the planned TARP investments by program as of December 9, 2009. Please see Appendix 1 for a description of the programs listed in the chart. Figure 1: Planned TARP investments ($ billions) as of December 9, 2009 2 TARP funds for the Home Affordable Modification Program (HAMP) include $1.244 billion to offset costs of program changes for the “Helping Families Save Their Homes Act of 2009”, and $15 million for administrative expenditures relating to the Special Inspector General for the Troubled Asset Relief Program (SIGTARP). 3 Monthly 105(a) Report November 2009 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. 3 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 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 November Taxpayers can track progress on all of the financial stability programs and investments, as well as repayments, on Treasury’s website www.FinancialStability.gov. Specifically, taxpayers can look at investments within two business days of closing in our TARP Transaction Reports at www.FinancialStability.gov/latest/reportsanddocs.html. On December 9, 2009, Treasury published annual financial statements audited under Federal financial reporting standards. The financial statements provide detailed information on the value of the TARP investments and will be available at www.FinancialStability.gov. 3 On December 9, 2009, the Secretary of the Treasury wrote to Congressional leaders outlining the Administration's extension and exit strategy for the TARP. The letter can be found at http://www.FinancialStability.gov/latest/pr_12092009.html. 4 Monthly 105(a) Report November 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 November, Treasury received $1.89 billion in dividend and interest payments from TARP investments. • Treasury has received a total of approximately $12 billion in dividends, interest and fees through November 30, 2009. Figure 3 shows the allocation of dividends, interest and fees received since inception of TARP by program through November 30, 2009. Figure 3: Dividends, interest and fees received by TARP Program through November 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. 5 Monthly 105(a) Report November 2009 Capital Purchase Program A major part of TARP is the Capital Purchase Program (CPP). Under this program, Treasury invested 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. The CPP remained open through 2009 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 last application deadline was November 21, 2009. Final closings may occur throughout December. During November, Treasury made new investments in 7 banks totaling $38.74 million, including 6 small banks participating in the expansion of the CPP. Treasury received $1.2 billion in dividends and interest from CPP investments, $228.62 million in CPP repayments and $3.19 million from CPP warrant repurchases. Figure 4: CPP Snapshot through November CPP Investments Disbursements in November 2009: $38.74 million to 7 banks Total amount disbursed since October 2008: $204.715 billion CPP investments repaid since October 2008: $71.034 billion CPP Banks Number of institutions that have received CPP investment: 694 Number of institutions that have fully repaid CPP investment: 49 Number of institutions that have partially repaid CPP investment: 4 Number of institutions currently participating in CPP: 645 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. 6 Monthly 105(a) Report November 2009 Also during November, CIT Group Inc., in which Treasury invested $2.33 billion for preferred stock in December 2008, filed a pre-packaged bankruptcy plan, and the banking subsidiaries of UCBH Holdings, Inc. (UCBH), which received a $298.74 million investment in November 2008, and Pacific Coast National Bancorp, which received a $4.1 million investment in January 2009, were placed in receivership by their respective banking regulators. UCBH subsequently began bankruptcy proceedings. It is unlikely that Treasury will receive any significant recovery on these investments. 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 November 30, 2009. These charts include all 694 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 than one percent and no greater than three percent (five percent for small banks) of the recipient’s risk-weighted assets. Figures 5 & 6: Number of CPP banks, and funds disbursed, by investment amount through November Treasury receives dividend or interest payments on its CPP investments. 49 of the banks that received investments under CPP have repaid Treasury in full. 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. Community development banks, for example, were not required to issue warrants. 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. On November 19, 2009, Treasury announced it would conduct public offerings registered under the Securities Act of 1933 to sell its warrant positions in Capital One Financial Corporation, JP Morgan Chase & Co., and TCF Financial Corporation. Each of these banks has fully 7 Monthly 105(a) Report November 2009 repurchased Treasury’s preferred stock investment. The warrants will be sold through singleround, sealed bid, uniform price auctions, known as modified Dutch auctions. In this format, qualified bidders may submit one or more independent bids at different price-quantity combinations and the warrants will be sold at a uniform price that clears the market. Treasury will set a minimum reserve price for each auction. Treasury expects to conduct similar auctions in the future. 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 November 2009. Figure 7: Cash received under the CPP through November 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. On November 15, 2009, Treasury released the results of its tenth survey of banks’ activities, including the following information on September lending: • The overall outstanding loan balance (of all respondents) fell one percent from August to September at the top 22 participants in the Capital Purchase Program (CPP), due mainly to decreased demand from borrowers, and seasonal patterns. 8 Monthly 105(a) Report • November 2009 Total origination of new loans at the 22 surveyed institutions increased two percent from August to September. In September, the 22 surveyed institutions originated approximately $239 billion in new loans. Total originations of loans by all respondents rose in four categories (commercial and industrial (C & I) renewals and new commitments and commercial real estate (CRE) renewals and new commitments) and fell in four loan categories (mortgages, home equity lines of credit (HELOCs), credit cards, and other consumer lending products). 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 Total Average Total Average Total Average Consumer Loans Commercial Loans Total Loans 2/28/2009 519 3/31/2009 553 4/30/2009 541 5/31/2009 612 6/30/2009 604 7/31/2009 609 8/31/2009 649 8/31/2009 (Adjusted) 644 9/30/2009 646 9/30/2009 (Adjusted) 644 Change (August Adjusted to Sept Adjusted) $2,898,031 $2,885,662 $2,852,651 $2,843,528 $2,812,225 $2,803,414 $2,789,399 $2,787,639 $2,794,701 $2,794,588 0.25% $2,380,692 $2,359,017 $2,329,537 $2,346,621 $2,429,931 $2,339,348 $2,328,308 $2,324,882 $2,284,412 $2,283,715 -1.80% $5,278,723 $5,244,679 $5,182,189 $5,190,149 $5,242,156 $5,142,762 $5,117,708 $5,112,522 $5,079,113 $5,078,304 -0.67% 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. The second Quarterly CPP Report, featuring Q2 2009 data, was released on November 30, 2009, Treasury expanded the report to include additional information on repayment of debt. Details on the Quarterly Capital Purchase Program Reports are available at http://www.FinancialStability.gov/impact/CPPreport.html. 9 Monthly 105(a) Report November 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. Of the nine firms that Treasury announced in July 2009 had pre-qualified to participate as fund managers, eight have completed initial closings and begun operations of SPPIP funds (PPIFs). Treasury has committed a maximum of $1.11 billion of equity capital together with $2.22 billion of debt financing to each PPIF. Following the initial closing, each PPIF has up to six months to raise additional private capital. Treasury expects the final initial closing to occur in December and that total Treasury equity and debt investment in all PPIFs will equal approximately $30 billion. As of November 30, 2009, eight PPIFs have completed initial and subsequent closings on approximately $5.07 billion of private sector equity capital, which has been matched 100 percent by Treasury, representing of $10.13 billion of total equity capital. Treasury has also provided $10.13 billion of debt capital, representing $20.26 billion of total purchasing power. 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. Treasury expects to publish its first public report on S-PPIP activities in early 2010. Details on the Legacy Securities Public-Private Investment Program are available at http://www.FinancialStability.gov/roadtostability/publicprivatefund.html. Small Business As part of a new initiative announced on October 21, 2009 by the Obama Administration, Treasury is considering several programs to provide lower-cost TARP capital to boost small business lending. One program may be directed at small banks with less than $1 billion of assets. Participants would 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. Also under consideration is the treatment of existing CPP participants that wish to replace existing capital with investments under the new program. A similar program would be directed at Community Development Financial Institutions. On November 18, Treasury and the Small Business Administration convened the Small Business Financing Forum with community small banks, small business leaders, and economists to discuss support for small business lending. Information concerning the conference as well as a link to “Report to the President: Small Business Financing Forum” can be found at http://www.FinancialStability.gov/roadtostability/smallbusinesscommunity.html. 10 Monthly 105(a) Report November 2009 Treasury has also continued development of a program to purchase in the secondary market securities backed by 7(a) loans guaranteed by the Small Business Administration. 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 nine monthly ABS subscriptions as of November 30, 2009. A total of $96 billion of TALF-eligible new ABS issuance has been brought to market. Of that amount, approximately 50% of total new issuance, or $48 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 November Source: Markets Room, U.S. Treasury Department (11/27/09) Details on TALF are available at http://www.FinancialStability.gov/roadtostability/lendinginitiative.html. 11 Monthly 105(a) Report November 2009 The Office of the Special Master for TARP (Executive Compensation) In October, 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, as well as compensation structures for the next 75 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 is currently reviewing the compensation structures (but not individual payments of total compensation) of each of these companies’ next 75 most highly compensated employees. The Office of 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 issue determinations regarding the compensation structures on or before December 29, 2009. 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 (MHA), a comprehensive program to stabilize the U.S. housing market, was first announced by the Obama 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 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. 4 From April through November 2009, 78 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. Servicers for loans that are owned or securitized by Fannie Mae or Freddie Mac (the “GSEs” or “government sponsored enterprises”) are automatically eligible to participate in the related GSE’s HAMP for their portfolio of GSE loans. The incentives for these GSE HAMP modifications are not funded from TARP funds, but by the related GSEs from their own funds. 4 Due to the extension of TARP, servicers will be able to enter into the Servicer Participation Agreements with Treasury through October 3, 2010. 12 Monthly 105(a) Report November 2009 Borrowers may be accepted into HAMP if a borrower has made the first trial period payment on or before December 31, 2012. Modifications will continue for five years from starting date of modification, and borrower incentive payments will continue to be paid over that period provided that the borrower stays current. In early October, 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. By month-end November, more than 697,026 trial modifications had started and more than 1,032,837 trial modification offers were extended. Throughout November, Treasury continued to work together with the support of state, local and community stakeholders and to implement steps to improve the overall effectiveness and efficiency of HAMP, including: • Roll-out of streamlined documentation processes, including a simplified borrower financial information section and notifications to borrowers, and accepting electronic signatures for loan modification documentation for all GSE and non-GSE-loans. • Enhanced availability of Spanish translations for HAMP information and document summaries, and other web tools for borrowers. • A nationwide “Mortgage Modification Conversion Drive”, to help borrowers who are in the trial modification phase convert to permanent modifications. The program includes monitoring of servicers’ efforts by Treasury and Fannie Mae staff onsite at select servicers’ plans and daily loan-level conversion reporting through the month of December. Additional announced 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. • The Second Lien Modification Program (2MP) which will provide incentives for secondlien 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. • The Home Affordable Foreclosure Alternatives Program (HAFA), which will provide financial incentives to borrowers, servicers, and investors who utilize a short-sale or deed-in-lieu (DIL) to avoid foreclosure on a HAMP-eligible loan. In particular, the HAFA program was rolled out on November 30 and is designed to simplify and streamline the use of short-sale and DIL options with the following features: • Complements HAMP by providing viable alternatives for borrowers who are HAMP eligible. • Utilizes borrower financial and hardship information collected in conjunction with HAMP, eliminating the need for additional eligibility analysis. • Allows the borrower to receive pre-approved short sale terms prior to the property listing. 13 Monthly 105(a) Report November 2009 • Prohibits the servicer from requiring, as a condition of approving the short sale, a reduction in the real estate commission agreed upon in the listing agreement. • Requires that borrowers be fully released from future liability for the debt. To ensure transparency and servicer accountability, servicer-specific results are publicly reported on a monthly basis. The MHA Monthly Servicer Performance Report for November will be available on December 10th at http://www.FinancialStability.gov/latest/reportsanddocs.html. With respect to compliance, Treasury has, among other steps, directed Freddie Mac, in its role as compliance agent for HAMP to review a sample of loans that may be or have been eligible for HAMP modification as a "second look" process 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 who may have been eligible for a HAMP modification but were not offered a modification. Following these reviews, Treasury will receive performance assessments of each servicer's program compliance as prepared by Freddie Mac, and intends to implement remedies for non-compliance, where appropriate. These remedies may include withholding or reducing incentive payments to servicers, requiring repayments of prior incentive payments made to servicers with respect to affected loans, or requiring additional servicer oversight. 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. Below in Figures 10, 11, 12 and 13 are the HAMP Snapshot through November, HAMP Participating Servicers, HAMP Active Trial and Permanent Modifications, and HAMP Trial Plans Extended to Borrowers. 14 Monthly 105(a) Report Figure 10: November 2009 Home Affordable Modification Program (HAMP) Snapshot through November 2009 Number of Requests for Financial Information Sent to Borrowers (Cumulative) 1 3,137,548 Number of Trial Period Plan Offers Extended to Borrowers (Cumulative) 1 1,032,837 All HAMP Trials Started Since Program Inception2 759,058 All Active Modifications (Trial and Permanent) 728,408 Number of Active Trial Modifications2 697,026 Number of Permanent Modifications3 31,382 1 Source: Survey data provided by servicers. November data is through Nov. 26. 2 As reported by the HAMP system of record. 3 Active permanent modifications as reported by servicers into the HAMP system of record. Includes 16,261 permanent modifications receiving incentive payments to servicers in November. Figure 11: HAMP Participating Servicers • Approximately 85% of eligible mortgage debt outstanding is covered by HAMP participating servicers. • 78 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. • Approximately 2,300 lenders service loans owned or guaranteed by Fannie Mae or Freddie Mac. These servicers are automatically eligible to participate in HAMP. • The Administration has launched a month-long conversion campaign to ensure that servicers increase focus on the hundreds of thousands of borrowers eligible to move from the trial to the permanent modification phase at the end of December. 15 Monthly 105(a) Report November 2009 Figure 12: HAMP Active Trial and Permanent Modifications (Cumulative, by Month) Figure 13: HAMP Trial Plans Extended to Borrowers (Cumulative, by Month) Source: Active trial and permanent modifications as of November 30; based on numbers reported by servicers to the HAMP system of record. Figure 13: HAMP Trial Plans Offered to Borrowers (Cumulative, by Month) Source: Survey data provided by servicers. September data includes October 1. October data is 10/2 through 10/29. November data is through Nov. 26. 16 Monthly 105(a) Report Appendix 1 November 2009 Page Description of TARP Programs: Capital Purchase Program 19 SCAP and CAP 20 Targeted Investment Program 20-21 AIG Investment 20-21 Asset Guarantee Program 21 Automotive Industry Finance Program 22 Consumer and Business Lending Initiative (TALF & Small Business) 25 Legacy Securities Public-Private Investment Program 26 Making Home Affordable 27 Office of the Special Master (Executive Compensation) 28 How Treasury Exercises its Voting Rights 30 Appendix 2 Page November Financial Statement 32 18 Monthly 105(a) Report November 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 were fundamentally sound, because of the capital restraints caused by the troubled market conditions, they were 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? • Through the CPP, Treasury invests in banks to increase their capital and to enable them to continue lending to businesses and consumers and otherwise serve their customers. • 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. • 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. In November and December 2009, Treasury began public offerings registered with the Securities and Exchange Commission for the sale of warrants using a modified Dutch auction methodology. 19 Monthly 105(a) Report November 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 were important components of the Financial Stability Plan to help ensure that banks have a sufficient capital cushion in a more adverse economic scenario. SCAP was a comprehensive capital assessment exercise, or “stress test”, for the largest 19 U.S. bank holding companies and a complement to the CAP. • On November 9, 2009, Treasury announced the closure of the Capital Assistance Program. Of the 19 banks that participated in the SCAP, 18 demonstrated no need for additional capital or fulfilled their need in the private market. GMAC is the only financial institution that was not able to raise sufficient capital. GMAC and Treasury are discussing whether Treasury would make an additional investment, which was contemplated in May and which would be funded under the Automotive Industry Financing Program. How did SCAP and CAP 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 the 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. • In cases in which the SCAP indicated that an additional capital buffer was warranted, institutions had an opportunity to turn first to private sources of capital, but were 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. 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 November 30, 2009, assistance under these programs had been provided to: 20 Monthly 105(a) Report November 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 November 30, 2009, AIG has drawn $5.34 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? • 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 compensation for its guarantee, Treasury collects a premium in the form of preferred stock, warrants, or other form approved by Treasury. • 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. 21 Monthly 105(a) Report November 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 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. • On November 17, 2009, Citigroup and the U.S. Federal parties reached agreement upon, and finalized, the precise assets constituting the covered pool. 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 22 Monthly 105(a) Report November 2009 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. • 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 • 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. • 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. • 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 23 Monthly 105(a) Report November 2009 Financial and Treasury agreed to certain forbearance with respect to Chrysler Holding’s loans. • Treasury currently owns 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%). • In November 2009, General Motors agreed, subject to certain conditions, to begin quarterly repayments in December 2009 of its $6.7 billion loan. 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 24 Monthly 105(a) Report November 2009 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 requirements. Additional Treasury investments in GMAC were contemplated to enable GMAC to satisfy the SCAP requirements. • 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, residential mortgage servicing advances, or commercial mortgage loans, including legacy commercial mortgage loans, as well as collateralized by loans guaranteed by the Small Business Administration. Treasury provides credit support for TALF as part of Treasury’s Consumer and Business Lending Initiative. How does the TALF work? • 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. • 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. • 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. 25 Monthly 105(a) Report November 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 the latter months of 2009, financial market conditions have improved, 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, all of 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 is partnering with selected fund managers to purchase commercial and nonagency residential MBS under the S-PPIP. • 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’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. 26 Monthly 105(a) Report November 2009 • The equity investment, together with warrants 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 27 Monthly 105(a) Report November 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 primarily designed to enable responsible homeowners to stay in their homes by reducing mortgage payments to an affordable level. What are the HPDP, Second Lien Program and Home Affordable Foreclosure Alternatives 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 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 (2MP) will provide incentives for second-lien holders to modify or extinguish a second-lien mortgage when a modification has been initiated on the first lien mortgage for the same property under HAMP. • The Home Affordable Foreclosure Alternatives Program (HAFA), will provide financial incentives to borrowers, servicers, and investors who utilize a short-sale or deed-in-lieu (DIL) to avoid foreclosure on a HAMP-eligible loan. Office of the Special Master for TARP (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. 28 Monthly 105(a) Report November 2009 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 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. Initial Determinations 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 assistance. 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. 29 Monthly 105(a) Report November 2009 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 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. 30 Monthly 105(a) Report November 2009 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 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. 31 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 November 30, 2009. 32 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 November 30, 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 18,760,041 18,760,041 379,877 11,960 228,920 395 63,414,172 273,073 232,054 8 64,540,459 $ $83,300,500 , , $ $ $ $ Expenditures 18,458,869 18,458,869 333,039 11,960 65,817 395 45,729,155 273,073 222,675 8 46,636,122 65,094,991 , , For Period Ending December 31, 2009 $ Projected Obligations 20,983,404 20,983,404 427,481 11,960 229,126 395 66,474,734 287,890 234,973 8 67,666,567 $ Projected Expenditures 20,792,302 20,792,302 385,096 11,960 76,007 395 50,521,905 287,890 225,094 8 51,508,355 $ 88,649,971 , , $ 72,300,657 , , $ $ $ $ $ $ U.S. Treasury Department Office of Financial Stability Troubled Asset Relief Program Agreements Under TARP [Section 105(a)(3)(A)] For Period Ending November 30, 2009 Date Approved or Renewed Type of Transaction 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 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 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 IAA IAA Contract Contract Contract Contract Contract IAA Contract Contract Contract Contract Vendor Purpose 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 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 g Services Legal 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 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 IT Services Website Testing Legal Advisory Administrative Support Legal Advisory Legal Advisory Legal Advisory Detailee Administrative Services Administrative Services Asset Management Services Administrative Services * Small or Women-, or Minority-Owned Small Business **Contract responsibilities assumed by Sonnenschein Nath & Rosenthal via novation. U.S. Treasury Department Office of Financial Stability Troubled Asset Relief Program Insurance Contracts [Section 105(a)(3)(B)] For Period Ending November 30, 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(3)(C, D, G)] For Period Ending November 30, 2009 CAPITAL PURCHASE PROGRAM Seller Footnote 11 3a 11/24/2009 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 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. Charlotte New York New York New York New York New York Boston San Francisco Redding Hendersonville San Francisco Chicago Atlanta NC NY NY NY NY NY MA CA CA NC CA IL GA 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 $ $ $ $ $ $ $ $ $ $ $ $ $ 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 Par Par Par Par Par Par Par Par Par Par Par Par Par 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 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 Los Angeles Seattle Winston-Salem Baltimore Portland Dallas Birmingham McLean Memphis Columbus Cleveland CA WA NC MD OR TX AL VA TN OH OH 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/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants $ $ $ $ $ $ $ $ $ $ $ 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 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 Zions Bancorporation Marshall & Ilsley Corporation U.S. Bancorp Salt Lake City Milwaukee Minneapolis UT WI MN Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants $ $ $ 1,400,000,000 1,715,000,000 6,599,000,000 Par Par Par 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 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 Wayzata Lockport Sioux Falls Davenport p Beverly Hills Bluefield Las Vegas Waterbury Santa Barbara San Jose Moultrie Louisville Walla Walla 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 $ $ $ $ $ $ $ $ $ $ $ $ $ 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 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 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 Warrants $ 139,000,000 4 $ $ $ $ $ 7/15/2009 4/22/2009 5/27/2009 6/3/2009 9/30/2009 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 5 4 5 9 Preferred Stock w/ Warrants Preferred Stock w/ Warrants 9 9 Page 4 of 29 Seller Footnote 12 Purchase Date Purchase Details Name of Institution City State Investment Description Treasury Investment Remaining After Capital Repayment Capital Repayment Details Investment Amount Pricing Mechanism 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 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. 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 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 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 12/5/2008 CVB Financial Corp Ontario CA Preferred Stock w/ Warrants $ 130,000,000 Par 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 OH SC AL OK PR KS OH CA NC MA MO NY FL NJ MD FL WA CA IN NC WA CA 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 5 4 7/15/2009 3/31/2009 4 32,500,000 0 Final Disposition Proceeds $ $ 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 29 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 Warrants 11/4/2009 4 $ 75,000,000 $ 0 Warrants 5/5/2009 4 $ 125,198,000 $ 0 Warrants 11/18/2009 4 $ 15,000,000 $ 0 Warrants 11/24/2009 4 $ 22,000,000 $ 0 Warrants 5/27/2009 4 $ 40,000,000 $ 0 Warrants 10/28/2009 5 $ 70,000,000 $ 0 Warrants 11/18/2009 5 $ 59,000,000 $ 0 Warrants Final Disposition Final Disposition Date Disposition Investment Description Final Disposition Proceeds 11/24/2009 Warrants $ 2,650,000 6/24/2009 Warrants $ 1,040,000 Page 6 of 29 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 29 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 14 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 Remaining Investment Description Final Disposition Final Disposition Date Disposition Investment Description Final Disposition Proceeds 5/27/2009 Warrants $ 5,025,000 11/24/2009 4 $ 3,455,000 $ 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 10,340,000 Preferred Stock 2 Page 8 of 29 Seller 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 1/16/2009 1/16/2009 1/16/2009 1/23/2009 3 2 2 2 2 2 3 2 2 2 2 2 2 2 2 2 2 2 3 2 2 Name of Institution 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. Southern Bancorp, Inc. Morrill Bancshares, Inc. Treaty Oak Bancorp, Inc. 1st Source Corporation Purchase Details City 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 Arkadelphia Merriam Austin South Bend State 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 AR KS TX IN 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/ 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 Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Warrants Investment Amount $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Treasury Investment Remaining After Capital Repayment Capital Repayment Details 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 11,000,000 13,000,000 3,268,000 111,000,000 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 Capital Repayment Date Final Disposition Date Capital Repayment Amount 6 Remaining Capital Amount $ $ 7,414,000 64,779,000 $ $ 0 0 Warrants Warrants 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 $ 5/27/2009 4 $ 12,000,000 $ 4 37,500,000 0 Final Disposition Remaining Investment Description Disposition Investment Description Final Disposition Proceeds 6/24/2009 6/24/2009 Warrants Warrants $ $ 275,000 1,400,000 4/15/2009 Preferred Stock 2, $ 750,000 5/27/2009 Preferred Stock 2 2, $ 600,000 Preferred Stock 2 Preferred Stock 2 Page 9 of 29 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 S th Southern Illinois Illi i Bancorp, B Inc. I 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 B h Business B i B Bank k 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 C Carmi i 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 M Manhattan h tt B Beach h 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 P Preferred f d St Stockk w// E Exercised i dW Warrants t 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 P Preferred f d Stock St k w// Exercised E i d Warrants W t 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 Par Par Par Par Par Par $ 4,656,000 Par $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 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 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 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 P 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 P Par Par Par Par Par Par Capital Repayment Date 4/22/2009 4 Capital Repayment Amount 6 Remaining Capital Amount $ $ 4,900,000 0 Final Disposition Remaining Investment Description Final Disposition Date Preferred Stock 2 4/22/2009 Disposition Investment Description Preferred Stock Final Disposition Proceeds 2, $ 245,000 Page 10 of 29 Seller Name of Institution 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 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. 3 2 2 2 2 2 2 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 Purchase Details City State Marysville Denver Spokane Munster Scottsdale Wichita KS CO WA IN AZ KS Investment Description Treasury Investment Remaining After Capital Repayment 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 $ $ $ $ $ $ 8,950,000 12,639,000 110,000,000 3,674,000 2,568,000 8,750,000 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, Bancshares Inc 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 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 Westamerica Bancorporation San Rafael CA Preferred Stock w/ Warrants $ 83 726 000 83,726,000 Par Capital Repayment Date Capital Repayment Amount 6 Remaining Capital Amount $ 41,863,000 $ $ 41,863,000 $ 4 9/2/2009 11/18/2009 2 2 2 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 4 41,863,000 0 Remaining Investment Description Final Disposition Final Disposition Date Disposition Investment Description Final Disposition Proceeds Preferred Stock w/ Warrants Warrants Par Par Par Par Par Par Par Page 11 of 29 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 Investment Amount $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Treasury Investment Remaining After Capital Repayment Capital Repayment Details 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 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 11/10/2009 4 Capital Repayment Amount 6 Remaining Capital Amount $ $ 700,000 0 Final Disposition Remaining Investment Description Final Disposition Date Disposition Investment Description Preferred Stock 2 11/10/2009 Preferred Stock Final Disposition Proceeds 2 $ 35,000 Page 12 of 29 Seller Name of Institution Purchase Details City State Investment Description 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 3 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 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. 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 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 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 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 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 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 2 3/13/2009 Madison Financial Corporation Richmond KY Preferred Stock w/ Exercised Warrants $ 3,370,000 Par 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 Treasury Investment Remaining After Capital Repayment Capital Repayment Details Capital Repayment Date 11/18/2009 4 Capital Repayment Amount 6 Remaining Capital Amount $ $ 10,000,000 0 Final Disposition Remaining Investment Description Final Disposition Date Disposition Investment Description Preferred Stock 2 11/18/2009 Preferred Stock Final Disposition Proceeds 2 $ 500,000 Page 13 of 29 Seller Footnote Purchase Date 2 2 2 2, 3a 11/13/2009 2 2 2 2 2 3/13/2009 3/13/2009 3/13/2009 2 2 2 2 2 2 2 2 2 2 2 2 2 2 Name of Institution Purchase Details City State Investment Description Capital Repayment Details Investment Amount Pricing Mechanism First National Corporation St. Johns Bancshares, Inc. Blackhawk Bancorp, Inc. Strasburg St. Louis Beloit VA MO WI Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants $ $ $ 13,900,000 3,000,000 10,000,000 Par Par Par 3/13/2009 IBW Financial Corporation Washington DC Preferred Stock $ 6,000,000 Par 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 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, B Inc. I CSRA Bank Corp. Trinity Capital Corporation Clover Community Bankshares, Inc. Pathway Bancorp Catlin Las Vegas Lenoir City Dallas Doraville Paso Robles Union City New Orleans Colebrook Kirksville Madisonville Tallahassee Covington Argonia Holton Si Simsbury b Wrens Los Alamos Clover Cairo 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/ 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 P f d Stock St k w// Exercised E i d Warrants W t Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 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 4 000 000 2,400,000 35,539,000 3,000,000 3,727,000 Par Par Par Par Par Par Par Par Par Par Par Par Par Par P Par Par Par Par Par 3/27/2009 Colonial American Bank West Conshohocken PA Preferred Stock w/ Exercised Warrants $ 574,000 Par 2 2 2 2 2 2 2 2 3/27/2009 3/27/2009 3/27/2009 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 MS Financial, Inc. Triad Bancorp, Inc. Alpine Banks of Colorado 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 Kingwood Frontenac Glenwood Springs 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 TX MO CO 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/ 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 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 7,723,000 3,700,000 70,000,000 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 9,439,000 2,211,000 4,000,000 5,100,000 2,040,000 13,179,000 9,960,000 3,800,000 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 2 2 Capital Repayment Amount 6 Remaining Capital Amount Remaining Investment Description Final Disposition Final Disposition Date Disposition Investment Description Final Disposition Proceeds Par 2 2, 3 2 2 2 2 2 2 2 2 3 2 2 2 2 Capital Repayment Date Treasury Investment Remaining After Capital Repayment Page 14 of 29 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. 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 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 Bankshares, Inc 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 IL 2 5/22/2009 The Landrum Company Columbia MO Investment Description Treasury Investment Remaining After Capital Repayment 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/ 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 $ $ $ $ $ $ $ $ $ $ $ $ $ $ 3,690,000 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 Par Par Par Par Par Par Par Par Par Par Par Par Par Par $ 3,000,000 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 $ $ $ $ $ 14,738,000 2,250,000 4,500,000 3,194,000 4,000,000 Par Par Par Par Par $ 6,100,000 Par $ 10,750,000 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 $ $ $ 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 2,400,000 Par $ 1,100,000 Par $ 2,639,000 Par $ 20,300,000 Par Preferred Stock w/ Exercised Warrants $ 15,000,000 Par Capital Repayment Date 11/24/2009 Capital Repayment Amount 6 Remaining Capital Amount $ $ 1,600,000 1,400,000 Remaining Investment Description Final Disposition Final Disposition Date Disposition Investment Description Final Disposition Proceeds Subordinated Debentures 8 Page 15 of 29 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 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. New Albany Arcadia Aledo Chillicothe Granby 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 Par Par Par Par Par Par $ 20,400,000 Par $ 6,349,000 Par IN CA IL MO CO 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 2 5/29/2009 Two Rivers Financial Group Burlington 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 Enterprises, Inc 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 $ 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 Par Par Par Par Par Par $ 12 000 000 12,000,000 $ 3,942,000 Par $ 19,817,000 Par Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants $ 5,000,000 Par $ 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 $ 3,756,000 Par $ 15,000,000 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 $ $ 3,510,000 8,900,000 Par Par $ 2,639,000 Par $ 6,400,000 Par $ 12,000,000 Par $ 12 000 000 12,000,000 Par $ 10,000,000 Par $ 2,330,000 Par Subordinated Debentures Subordinated Debentures w/ Exercised Warrants $ 11,926,000 Par $ 15,000,000 Par 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 Page 16 of 29 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 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 Par Par Par Par Par Par Par Par Par Par Par Par $ 24,900,000 Par $ 1,700,000 Par $ 35,000,000 Par $ 12,000,000 Par 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 PA Preferred Stock w/ Warrants $ 950,000,000 Par 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 IL KS GA MD $ $ $ $ 13,669,000 11,000,000 12,900,000 6,800,000 Par Par Par Par 8 7/17/2009 First South Bancorp, Inc. Lexington TN $ 50,000,000 Par 8 7/17/2009 Great River Holding Company Baxter MN $ 8,400,000 Par 8, 10 7/17/2009 Plato Holdings Inc. Saint Paul MN 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 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 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 $ 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 S b di t d Debentures Subordinated D b t w// E Exercised i d Warrants $ $ $ 3,223,000 20,699,000 16,015,000 Par Par Par $ 9,720,000 Par 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 Page 17 of 29 Seller Footnote Purchase Date 8, 10 9/4/2009 2 2, 10 2, 10 9/11/2009 9/11/2009 Purchase Details Name of Institution City State Investment Description Capital Repayment Details Investment Amount Pricing Mechanism NE Subordinated Debentures w/ Exercised Warrants $ Oswego NY Preferred Stock w/ Warrants $ 6,771,000 Par Brandon MS Preferred Stock w/ Exercised Warrants $52,000,000 Par Franklin Pigeon Falls IN WI Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants $7,000,000 $1,500,000 Par Par $7,500,000 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 Subordinated Debentures Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants $5,976,000 $10,000,000 $10,103,000 $3,300,000 Par Par Par Par The State Bank of Bartley Bartley 9/11/2009 Pathfinder Bancorp, Inc. 9/11/2009 Community Bancshares of Mississippi, Inc. Heartland Bancshares, Inc. PFSB Bancorporation, Inc. 8 9/11/2009 First Eagle Bancshares, Inc. Hanover Park IL 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 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 2, 10a 2, 10 10/23/2009 10/30/2009 10/30/2009 11/6/2009 11/13/2009 Cardinal Bancorp II, Inc. Randolph Bank & Trust Company WashingtonFirst Bankshares, Inc. F & M Bancshares, Inc. Fidelity Federal Bancorp Washington Asheboro Reston Trezevant Evansville MO 8, 10 11/13/2009 Community Pride Bank Corporation Ham Lake MN 2, 10a 2, 10 2 2, 10a 11/13/2009 11/20/2009 11/20/2009 11/20/2009 HPK Financial Corporation Presidio Bank McLeod Bancshares, Inc. Metropolitan Capital Bancorp, Inc. Chicago San Francisco Shorewood Chicago NC VA TN IN IL CA MN IL 1,697,000 Capital Repayment Date Capital Repayment Amount 6 Treasury Investment Remaining After Capital Repayment Remaining Investment Description Remaining Capital Amount Final Disposition Final Disposition Date Disposition Investment Description Final Disposition Proceeds Par $2,443,320 Par $14,000,000 Par $7,500,000 Par $11,019,000 Par Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock Preferred Stock Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock $ $ $ 22,252,000 4,000,000 12,700,000 Par Par Par $ $ $ $ $ 6,251,000 6,229,000 6,842,000 3,535,000 6,657,000 Par Par Par Par Par $ $ $ $ $ 4,400,000 5,000,000 10,800,000 6,000,000 2,348,000 Par Par Par Par Par Total Purchase Amount $ 204,714,587,320 Total Capital Repayment Amount TOTAL TREASURY CPP INVESTMENT AMOUNT $ $ 71,034,045,000 133,680,542,320 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. 3a/ Treasury cancelled the warrants received from this institution due to its designation as a CDFI. 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/ Thi This amountt does d nott include i l d accrued d and d unpaid id dividends, di id d which hi h mustt b be paid id att the th time ti off capital it l repayment. t 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. 14/ As of the date of this report, this institution is in bankruptcy proceedings. Page 18 of 29 AUTOMOTIVE INDUSTRY FINANCING PROGRAM (Revised as of October 30, 2009) Initial Investment City, State GMAC Detroit, MI Date Transaction Type 12/29/2008 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 Par $ 7,500,000,000 Par Date Type Pricing Mechanism Amount Obligor GMAC General Motors 12/29/2008 Purchase 12/31/2008 Purchase 4/22/2009 Purchase 5/20/2009 Detroit, MI 5/27/2009 Purchase 6/3/2009 Purchase 1/16/2009 Chrysler FinCo P Purchase h Chrysler FinCo 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 Debt Obligation w/ Additional Note 884,024,131 Par $ 13,400,000,000 $ Par $ Par $ $ 2,000,000,000 4,000,000,000 Par 360,624,198 Par $ 30,100,000,000 Par $ 1 500 000 000 1,500,000,000 P Par 2 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 Transfer of debt to New GM $ 7,072,488,605 N/A 7/10/2009 Debt left at Old GM $ 985,805,085 N/A Description 3 Amount/Equity % Common Stock 4/29/2009 4/29/2009 Auburn Hills, MI Purchase 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 $ 1,888,153,580 $ - $ 6,642,000,000 Par 6/10/2009 Transfer of debt to New Chrysler $ 500,000,000 N/A Date Type 7/10/2009 Partial repayment 3/17/2009 P Partial ti l repaymentt 4/17/2009 Partial repayment 5/18/2009 Partial repayment 6/17/2009 Partial repayment 7/14/2009 Repayment 7/14/2009 Repayment $ 7/10/2009 Repayment $ Remaining Investment Description Remaining Investment Amount/Equity % 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 $ 985,805,085 $ 360,624,198 Debt Obligation $ 6,711,864,407 9 9 Motors Liquidation Company 13 Par Amount/ Proceeds 3 Farmington Hills, MI 1/2/2009 Chrylser Purchase General Motors Corporation General Motors Corporation General Motors Corporation General Motors Corporation General Motors Corporation General Motors Corporation Payment or Disposition1 Treasury Investment After Exchange/Transfer/Other 19 Chrysler Holding 20 Debt Obligation $ $ $ $ $ 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 1,496,500,945 496 500 945 $ 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 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 29 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 Wilmington Wilmington Investment Description Investment Amount State Transaction Type DE Purchase Debt Obligation w/ $ 3,500,000,000 Additional Note N/A 7/8/2009 3 Purchase Debt Obligation w/ $ 1,500,000,000 Additional Note N/A 7/8/2009 3 DE INITIAL TOTAL $ 5,000,000,000 Pricing Mechanism Adjustment Details Adjustment Adjusted Investment Amount Amount Adjustment Date $ (1,000,000,000) $ 2,500,000,000 $ 1,000,000,000 (500,000,000) $ ADJUSTED TOTAL 4 Repayment Date Type 11/20/2009 Partial repayment Amount $ 140,000,000 $ 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 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 3/ Treasury issued notice to the institution of the permanent reduced commitment on 7/8/2009; the reduction was effective on 7/1/2009. 4/ Does not include accrued and unpaid interest due on the amount of principal repayment, which interest must be paid at the time of principal repayment. Page 20 of 29 TARGETED INVESTMENT PROGRAM Seller Footnote Date 1 12/31/2008 1/16/2009 Name of Institution 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 $ 40,000,000,000 Pricing Mechanism Par Par 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 Date 1, 2 1/16/2009 Name of Institution Citigroup Inc. City New York State Transaction Type NY Guarantee Investment Description Guarantee Limit Trust Preferred Securities w/ Warrants TOTAL $ 5,000,000,000 $ 5,000,000,000 Premium Received Preferred Stock and Warrants 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 Date 1 3/3/2009 Name of Institution TALF LLC City Wilmington State Transaction Type DE Purchase Investment Description Investment Amount Debt Obligation w/ Additional Note TOTAL $ 20,000,000,000 $ 20,000,000,000 Pricing Mechanism N/A 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 $ 69,835,000,000 Pricing Mechanism Par Par Date 4/17/2009 Transaction Type Exchange Investment Amount Investment Description Preferred Stock w/ Warrants 1 $ 40,000,000,000 Pricing Mechanism 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 29 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. DE 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 2 10/1/2009 Wellington Management Legacy Securities PPIF Master Fund, LP 1 10/2/2009 AllianceBernstein Legacy Securities Master Fund, L.P. 2 10/2/2009 1 2 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 Purchase Debt Obligation w/ Contingent Proceeds $2,222,222,222 Par DE Purchase Membership Interest $1,111,111,111 Par Wilmington DE Purchase Debt Obligation w/ Contingent Proceeds $2,222,222,222 Par Wilmington DE Purchase Membership Interest $1,111,111,111 Par AllianceBernstein Legacy Securities Master Fund, L.P. Wilmington DE Purchase Debt Obligation w/ Contingent Proceeds $2,222,222,222 Par 10/2/2009 Blackrock PPIF, L.P. Wilmington DE Purchase Membership Interest $1,111,111,111 Par 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 2 10/30/2009 AG GECC PPIF Master Fund, L.P. Wilmington DE Purchase Debt Obligation w/ Contingent Proceeds $2,222,222,222 Par 1 11/4/2009 RLJ Western Asset Public/Private Master Fund, L.P. Wilmington DE Purchase Membership Interest $1,111,111,111 $ Par 2 11/4/2009 RLJ Western Asset Public/Private Master Fund, L.P. Wilmington DE Purchase Debt Obligation w/ Contingent Proceeds $2,222,222,222 Par 1 11/25/2009 Marathon Legacy Securities Public-Private Investment Partnership, L.P. Wilmington DE Purchase Membership Interest $1,111,111,111 Par 2 11/25/2009 Marathon Legacy Securities Public-Private Investment Partnership, L.P. Wilmington DE Purchase Debt Obligation w/ Contingent Proceeds $2,222,222,222 Par TOTAL $26,666,666,664 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 29 HOME AFFORDABLE MODIFICATION PROGRAM Servicer Modifying Borrowers' Loans Date 4/13/2009 4/13/2009 4/13/2009 4/13/2009 Name of Institution Select Portfolio Servicing CitiMortgage, Inc. Wells Fargo Bank, NA GMAC Mortgage, Inc. Adjustment Details City Salt Lake City O'Fallon Des Moines Ft. Washington State UT MO IA PA Transaction Type Purchase Purchase Purchase Purchase Investment Description Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Pricing Lenders/Investors (Cap) 1 Mechanism $ $ $ $ 376,000,000 2,071,000,000 2,873,000,000 633,000,000 N/A N/A N/A N/A 4/13/2009 Saxon Mortgage Services, Inc. Irving TX Purchase Financial Instrument for Home Loan Modifications $ 407,000,000 N/A 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 Adjustment Date Cap Adjustment Amount Adjusted Cap 6/12/2009 $ 284,590,000 $ 9/30/2009 $ 6/12/2009 $ 121,910,000 $ 782,500,000 (991,580,000) $ 1,079,420,000 9/30/2009 $ 1,010,180,000 $ 2,089,600,000 6/17/2009 $ (462,990,000) $ 2,410,010,000 9/30/2009 $ 6/12/2009 $ 384,650,000 $ 1,017,650,000 9/30/2009 $ 2,537,240,000 $ 3,554,890,000 6/17/2009 $ 225,040,000 $ 632,040,000 $ 886,420,000 65,070,000 $ 9/30/2009 $ 254,380,000 7/31/2009 $ (3,552,000,000) $ 6/12/2009 $ (105,620,000) $ 9/30/2009 $ 6/12/2009 $ 102,580,000 $ 9/30/2009 $ 162,680,000 $ 6/12/2009 $ 3,318,840,000 $ 9/30/2009 $ (717,420,000) $ 6/12/2009 $ 9/30/2009 $ 46,730,000 $ 6/12/2009 $ 87,130,000 $ 9/30/2009 $ (249,670,000) $ 6/17/2009 $ (64,990,000) $ 9/30/2009 $ 130,780,000 6/17/2009 $ (63,980,000) $ 9/30/2009 $ 6/17/2009 $ (338,450,000) $ 9/30/2009 $ (11,860,000) $ 6/12/2009 $ 16,140,000 $ 9/30/2009 $ 134 560 000 134,560,000 $ 5,540,000 $ 128,300,000 90,990,000 $ $ $ 660,590,000 2,475,080,000 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 251 251,700,000 700 000 servicer & HPDP initial cap 2 Page 23 of 29 Servicer Modifying Borrowers' Loans Name of Institution Date 6/12/2009 Residential Credit Solutions Adjustment Details City State Transaction Type Investment Description Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Pricing Lenders/Investors (Cap) 1 Mechanism Adjustment Date Cap Adjustment Amount Adjusted Cap Fort Worth TX Purchase 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 $ 18,530,000 $ $ (36,240,000) $ 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) $ 1,780,000 $ $ 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 $ 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 $ 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 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 29 Servicer Modifying Borrowers' Loans Name of Institution Date Adjustment Details 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 9/9/2009 U.S. Bank National Association 9/9/2009 CUC Mortgage Corporation 9/11/2009 9/11/2009 9/11/2009 9/11/2009 Investment Description Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Pricing 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 FL Purchase Financial Instrument for Home Loan Modifications $ 1,250,000 Owensboro KY Purchase Financial Instrument for Home Loan Modifications $ Albany NY Purchase Financial Instrument for Home Loan Modifications $ ORNL Federal Credit Union Oak Ridge TN Purchase Financial Instrument for Home Loan Modifications Allstate Mortgage Loans & Investments, Inc. Ocala FL Purchase Financial Instrument for Home Loan Modifications Metropolitan National Bank Little Rock AR Purchase Financial Instrument for Home Loan Modifications $ 280,000 Franklin Credit Management Corporation Jersey City NJ Purchase Financial Instrument for Home Loan Modifications $ 27,510,000 Adjustment Date Cap Adjustment Amount 145,800,000 Adjusted Cap $ 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 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 10/28/2009 Harleysville National Bank & Trust Company Los Alamos NM Purchase Financial Instrument for Home Loan Modifications $ 700,000 N/A 11/18/2009 Quantum Servicing Corporation 11/6/2009 Los Alamos National Bank Tampa FL Purchase Financial Instrument for Home Loan Modifications $ 18,960,000 N/A 11/18/2009 Hillsdale County National Bank Hillsdale MI Purchase Financial Instrument for Home Loan Modifications $ 1,670,000 N/A 11/18/2009 QLending, Inc. Coral Gables FL Purchase Financial Instrument for Home Loan Modifications $ 20,000 N/A Page 25 of 29 Servicer Modifying Borrowers' Loans Date Name of Institution 11/25/2009 Marix Servicing, LLC Adjustment Details City Pheonix Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Pricing Lenders/Investors (Cap) 1 Mechanism State Transaction Type AZ Purchase Financial Instrument for Home Loan Modifications $ Investment Description 20,360,000 Cap Adjustment Amount Adjusted Cap Reason for Adjustment N/A 11/25/2009 Home Financing Center, Inc Coral Gables FL Purchase Financial Instrument for Home Loan Modifications $ 230,000 N/A 11/25/2009 First Keystone Bank Media PA Purchase Financial Instrument for Home Loan Modifications $ 1,280,000 N/A Total Initial Cap $ 23,556,670,000 TOTAL CAP Adjustment Date Total Cap Adjustments $ 3,835,780,000 $ 27,392,450,000 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 26 of 29 U.S. Treasury Department Office of Financial Stability Troubled Asset Relief Program Projected Costs and Liabilities [Section 105(a)(3)(E)] For Period Ending November 30, 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 November 30, 2009 Type of Expense Compensation for financial agents and legal firms Amount $145,026,557 U.S. Treasury Department Office of Financial Stability Troubled Asset Relief Program Description of Vehicles Established [Section 105(a)(3)(H)] For Period Ending November 30, 2009 Date Vehicle None Description