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Anchor Bank on TARP Late List
Posted on June 19th, 2010 No commentsMadison, Wis.-based Anchor Bank is on a list of 91 banks that are behind in their repayment of loans from the feds under the Troubled Assets Relief Program or TARP, according to The Capital Times.
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Paying Off TARP a Priority for M&I
Posted on May 28th, 2010 No comments“Step one is get to profitability. We have a pretty good shot by the end of the year. We’ll be close if we’re not. The second step after that is pay off TARP. The third step after that is evaluate what the appropriate level for the dividend should be,” said M&I Bank President & CEO Mark Furlong in a Q&A with the Milwaukee Small Business Times.
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Editorial: ‘Light at End of TARP Tunnel’
Posted on April 23rd, 2010 No commentsThe $700 billion Troubled Asset Relief Program may end up costing the nation around $89 million, according to the U.S. Treasury, a figure that does not include the billions to help Fannie Mae and Freddie Mac. “It’s still big money, but compared with what could have happened when credit markets seized at the end of 2008, it was money well spent,” the Milwaukee Journal Sentinel wrote in an editorial.
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Treasury Auctioning TARP Warrants
Posted on April 13th, 2010 No commentsThe U.S. Treasury Department plans to auction warrant positions in PNC Financial Services Group Inc., Wells Fargo & Co. and four other financial institutions that received government investments through the Troubled Asset Relief Program’s (TARP) Capital Purchase Program. The warrants will be sold over the next six weeks via public offerings. Read more in the Business Journal of Milwaukee.
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Letter: Use TARP Funds as Intended
Posted on February 6th, 2010 No comments“President Obama has proposed that the government take $30 billion in repayments from the Toxic Asset Relief Program and distribute it to banks for small business loans. While there may be a legitimate need, this would be contrary to the law as written,” reads a letter to the editor in the Wausau Daily Herald.
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M&I Likely to Repay TARP Next Year
Posted on February 3rd, 2010 No commentsMarshall & Ilsley Corp. probably won’t start paying back the U.S. Treasury’s $1.7 billion TARP investment until next year, CFO Greg Smith said at the Morgan Stanley U.S. Financials Conference in New York City, according to the Milwaukee Journal Sentinel.
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Layton State Bank Participates in TARP
Posted on January 11th, 2010 No commentsLayton State Bank in Milwaukee is the latest Wisconsin bank to receive capital through the federal government’s Troubled Asset Relief Program, or TARP, the Milwaukee Journal Sentinel reported.
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TARP Restricts Bonuses for M&I Execs
Posted on December 29th, 2009 No commentsMarshall & Ilsley Corp. – like other institutions that participate in the U.S. Treasury’s TARP – won’t be awarding stock options and bonuses to the bank’s top executives, but rather “stock salaries” in addition to their cash salaries. Read more in the Milwaukee Journal Sentinel.
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Wells Completes TARP Repayment
Posted on December 23rd, 2009 No commentsWells Fargo & Co. said it has completed its repayment of funds it received under the federal TARP program. Wells redeemed the $25 billion of series D preferred stock issued to the U.S. Treasury in October 2008 and paid accrued dividends of $131.9 million, the Milwaukee Business Journal reported.
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Wells Fargo Raising $10.4B to Repay TARP
Posted on December 15th, 2009 No commentsWells Fargo & Co. will repay the government’s entire $25 billion TARP investment after it raises $10.4 billion in a stock offering, the Business Journal of Milwaukee reported.