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The investments range from $13 million to $35 Banks accepted the money for a varietuof reasons, but the main one was to shore up theit capital reserves. accepted TARP money after acquiring troubled and Most of thelocao banks, however, took the monety as a sort of insurance policy against tight capital markets. The TARP money carries a 5 percent annual dividend payable quarterly, for the firsgt five years. Then the dividencd increases to 9 Theinvestment can’t be repaid for at least threer years. Here’s a rundown of bank holdiny companies that took TARP mone along with details about the area banksthey own. TARP $21.
75 million Top local executive: Bob Regnier, Totall assets: Net interest $25.3 million Deposits: $608.4 million Charge-offs: $13.i9 million Total risk-based capitap ratio: 12.22% TARP investment: $30.26 milliob Bank:
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