The money list

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At least 27 banks have agreed to sell stakes in themselves to the Treasury Department under a federal plan to inject capital into the financial system.

 

The newest list of recipients includes Capital One Financial Corp. a big credit-card issuer based in McLean, Va.; Washington Federal Savings, a thrift in Seattle that recently reported its first quarterly loss in history; and Saigon National Bank, a small bank in Southern California which targets that region's ethnic Vietnamese.

 

The latest deals total $30 billion in investment by the Treasury Department. The agency has allocated $250 billion for the program, which calls for the government to provide capital to banks in exchange for preferred stock and warrants.

 

The investments announced since the program's inception earlier this month cover more than $160 billion of the available cash.

 

BailoutSleuth compiled this list of recipients from bank press releases and local media reports. We will make it a standing feature on our site, adding names and amounts as they become available.

 

Here are the banks known to have selected for federal investments:

 

Citigroup Inc. (New York) -- $25 billion

 

JPMorgan Chase & Co. (New York) - $25 billion

 

Wells Fargo & Co. (San Francisco) -- $25 billion

 

Bank of America Corp. (Charlotte, N.C.) -- $15 billion

 

Goldman Sachs Group Inc. (New York) -- $10 billion

 

Merrill Lynch Inc. (New York) -- $10 billion

 

Morgan Stanley (New York) -- $10 billion

 

PNC Financial Services Group Inc. (Pittsburgh) -- $7.7 billion

 

Capital One Financial Corp. (McLean, Va.) -- $3.55 billion

 

Regions Financial Corp. (Birmingham, Ala.) -- $3.5 billion

 

SunTrust Banks Inc. (Atlanta) -- $3.5 billion

 

Fifth Third Bancorp (Cincinnati) -- $3.4 billion

 

BB&T Corp. (Winston-Salem, NC) -- $3.1 billion

 

Bank of New York Mellon (New York) -- $3 billion

 

Keycorp (Cleveland) -- $2.5 billion

 

Comerica Inc. (Dallas) -- $2.25 billion

 

State Street Corp. (Boston) -- $2 billion

 

Northern Trust Corp. (Chicago) -- $1.5 billion

 

Huntington Bancshares Inc. (Columbus, Ohio) -- $1.4 billion

 

First Horizon National Corp. (Memphis, Tenn.)  -- $866 million

 

City National Corp. (Beverly Hills, Calif.) -- $395 million

 

Valley National Bancorp (Wayne, N.J.) -- $330 million

 

UCBH Holdings Inc. (San Francisco) -- $298 million

 

Washington Federal Savings (Seattle) -- $200 million

 

First Niagara Financial Group Inc. (Buffalo, N.Y.)  -- $186 million

 

HF Financial Corp. (Sioux Falls, S.D.) -- $25 million

 

Saigon National Bank (Westminster, Calif.) -- $1.2 million

 

 

 

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Mark Cuban blogs: Transparency is key to the success of the Bailout and related loans and investments the government makes with our tax dollars. Without complete transparency, we will get from our government what we always get when it comes to finances... Read More

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Chris Carey, Editor
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This page contains a single entry by Chris Carey published on October 28, 2008 5:44 AM.

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