Treasury Department completes more TARP deals

The Treasury Department has completed investments in 22 additional banks, bringing the number of institutions that have received taxpayer capital within striking range of 500.

The latest banks to sell shares to the government through the $700 billion Troubled Asset Relief Program included 16 that had not been on BailoutSleuth's running tally of companies approved for aid.

The 22 banks on Tuesday's list got $284.7 million. First Busey Corp., of Urbana, Ill., accounted for $100 million of that total. It announced last month that it had been approved for TARP funds.

Park Bancorporation Inc., of Madison, Wis., sold $23.2 million in preferred stock to the government. The bank, like most of the others on the latest list, is privately held.

First Reliance Bancshares Inc., of  Florence, S.C., got $15.3 million in TARP funds. First Reliance reported profits of $625,632 for 2008, off 75 percent from 2007. It posted a loss of $1.6 million in the fourth quarter, primarily because of reserves for troubled loans.

Three Texas banks also received taxpayer capital in the latest round of deals, which closed on Friday. First Texas BHC Inc., based in Fort Worth, Texas, got $13.5 million. It operates Southwest Bank. Farmers & Merchants Bancshares Inc., of Houston, got $11.0 million and BOH Holdings Inc., also of Houston, got $10 million.

PeoplesSouth Bancshares Inc., of Colquitt, Ga., got $12.3 million in TARP funds, and Blue Ridge Banchares Inc., of Independence, Mo., got $12.0 million.

Nine other banks that were new to BailoutSleuth's running tally got less than $10 million each. They were:

Regent Bancorp Inc. (Davie, Fla.) -- $9.98 million

Highlands Independent Bancshares Inc. (Sebring, Fla.) -- $6.7 million

First Southwest Bancorporation Inc. (Alamosa, Colo.) -- $5.5 million

Germantown Capital Corp. (Germantown, Tenn.) -- $4.97 million

Pinnacle Bank Holding Co. (Orange City, Fla.) -- $4.39 million

Marine Bank & Trust Co. (Vero Beach, Fla.) -- $3 million

AmeriBank Holding Co. (Collinsville, Okla.) -- $2.49 million

Merchants and Planters Bancshares Inc. (Toone, Tenn.) -- $1.88 million

Community Bancshares of Kansas Inc. (Goff, Kan.) -- $500,000