Treasury completes more bank deals

The Treasury Department has completed investments in five more banks.

 

The deals were all relatively small, claiming $22.8 million of the $700 billion Troubled Asset Relief Fund.

 

City National Bancshares Corp., based in Newark, N.J., got $9.44 million in taxpayer capital by selling preferred shares to the government.  It had profits of $1.06 million last year, down 43.3 percent from 2007.

 

Capital Commerce Bancorp, of Milwaukee, Wis., got $5.1 million in TARP money. It is the holding company for Securant Bank & Trust.

 

SV Financial Inc., of  Sterling, Ill., got $4 million, while First Business Bank, of San Diego, got $2.21 million. Metropolitan Capital Bancorp, of Chicago, got the smallest amount in the latest wave of deals. It sold $2.04 million in stock to the government.

 

published April 14, 2009, 0 Comments

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This page contains a single entry by Chris Carey published on April 14, 2009 10:03 PM.

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