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US Treasury queried on bank rescues

The US Treasury should more closely scrutinise banks receiving public capital to ensure the money is being used to support the economy and not hoarded, a watchdog said Wednesday. The Congressional Oversight Panel said the Treasury had not adequately answered basic questions about the $700bn Tarp scheme, including about the administration’s strategy and why it had changed so abruptly from one based on asset purchases to one based on capital injections. Soon after the legislation was passed, the Treasury said it would invest in bank equity but on Nov 12 Hank Paulson, Treasury secretary, said the government had abandoned the purchase plan. The panel’s report comes amid heated international debate about whether governments injecting public capital into banks should demand tough terms and force them to lend as a condition of this support.

Farmers Capital Bank Corporation to Participate in U.S. Treasury's Capital Purchase Program

FRANKFORT, Ky., Dec. 15 /PRNewswire-FirstCall/ -- Farmers Capital Bank Corporation (Nasdaq: FFKT - News; the "Company") announced that it has received preliminary approval for $30 million of equity capital that will be effected by issuing 30 thousand shares of fixed-rate cumulative perpetual preferred stock to the U.S. Department of Treasury ("Treasury") under Treasury's recently announced Capital Purchase Program ("Program"). As required by the Program, the Company will also issue warrants to the Treasury to purchase common shares equal to 15% of the value of the preferred stock, with the number of warrants and exercise price determined based on the 20-day average closing price of the common shares ending on the day prior to preliminary approval.

Privacy Act of 1974; U.S. Customs and Border Protection--011 TECS System of Records Notice

SUMMARY: In accordance with the Privacy Act of 1974 and as part of the Department of Homeland Security's ongoing effort to review and update legacy system of record notices, the Department of Homeland Security is publishing a revised system of records notice for the system formerly known as the Treasury/CS.244, Treasury Enforcement Communication System, October 18, 2001, as a Department of Homeland Security system of records notice titled, DHS/CBP-011 TECS. Additionally, the Department is giving notice that it plans to consolidate into this newly revised system of records the following legacy system of records: Treasury/CS.272 Currency Declaration File, October 18, 2001; Treasury/CS.224 Suspect Persons Index, October 18, 2001; Justice/INS-032 National Automated Immigration Lookout System (NAILS), October 17, 2002; and Treasury/CS.

United States Department of Treasury Completes Investment in HopFed Bancorp, Inc.

today announced that it has completed the sale of $18.4 million of preferred stock to the U.S. Treasury Department under the Capital Purchase Plan. The Company issued senior preferred shares to the U.S. Treasury that will pay a cumulative annual dividend of 5% for the first five years. After five years, the dividend will increase to 9%. In conjunction with the issuance of its senior preferred stock, the Company issued the U.S. Treasury a ten year warrant to purchase 243,816 shares of the Company's common stock at an exercise price of $11.32, for an aggregate purchase price of approximately $2.8 million.

Saigon National Bank Announces Receipt of TARP Funds From U.S. Treasury

announced that the bank has received U.S. Treasury TARP funds after issuing preferred shares to the U.S. Treasury. The bank announced that this infusion from the U.S. Treasury increased the bank's capital by $1,549,000.

United States Department of Treasury Completes Investment in HopFed Bancorp, Inc.

HOPKINSVILLE, Ky., Dec. 12 /PRNewswire-FirstCall/ -- HopFed Bancorp, Inc. (Nasdaq: HFBC) today announced that it has completed the sale of $18.4 million of preferred stock to the U.S. Treasury Department under the Capital Purchase Plan. The Company issued senior preferred shares to the U.S. Treasury that will pay a cumulative annual dividend of 5% for the first five years. After five years, the dividend will increase to 9%. In conjunction with the issuance of its senior preferred stock, the Company issued the U.S. Treasury a ten year warrant to purchase 243,816 shares of the Company's common stock at an exercise price of $11.32, for an aggregate purchase price of approximately $2.8 million.

United States Department of Treasury Completes Investment in HopFed Bancorp, Inc.

HOPKINSVILLE, Ky., Dec. 12 /PRNewswire-FirstCall/ -- HopFed Bancorp, Inc. (Nasdaq: HFBC - News) today announced that it has completed the sale of $18.4 million of preferred stock to the U.S. Treasury Department under the Capital Purchase Plan. The Company issued senior preferred shares to the U.S. Treasury that will pay a cumulative annual dividend of 5% for the first five years. After five years, the dividend will increase to 9%. In conjunction with the issuance of its senior preferred stock, the Company issued the U.S. Treasury a ten year warrant to purchase 243,816 shares of the Company's common stock at an exercise price of $11.32, for an aggregate purchase price of approximately $2.8 million.

Smithtown Bancorp Approved by U.S. Treasury for Capital of $37.8 Million

Smithtown Bancorp (NASDAQ: SMTB), the parent holding company for Bank of Smithtown, has been approved by the United States Treasury for the Treasury to purchase up to $37.8 million of preferred shares pursuant to the TARP Capital Purchase Program. If the Company chooses to accept the offer and issues the shares, the shares would be non-voting, with a 5% annual dividend for the first five years, together with the other attributes and conditions as set forth in the Treasury's program.

Saigon National Bank Announces Receipt of TARP Funds From U.S. Treasury

WESTMINSTER, Calif., Dec. 26, 2008 (GLOBE NEWSWIRE) -- Saigon National Bank (OTCBB:SAGN) announced that the bank has received U.S. Treasury TARP funds after issuing preferred shares to the U.S. Treasury. The bank announced that this infusion from the U.S. Treasury increased the bank's capital by $1,549,000. -0- CONTACT: Saigon National Bank J. Kennedy, President & CEO 714-338-8700

UPDATE 1-U.S. Treasury says bank rescue a success so far

WASHINGTON, Dec 5 (Reuters) - The U.S. Treasury's program to give banks billions of dollars in fresh capital has been a success in helping stabilize financial markets, a senior Treasury official said on Friday.

Saigon National Bank receives TARP funds from US Treasury

Saigon National Bank has received US Treasury troubled asset relief program funds after issuing preferred shares to the Treasury.

First Banks receives approval and funding to participate in US Treasury's CPP

First Banks has received approval and funding from the US Department of the Treasury to participate in its troubled asset relief program's capital purchase program authorized by the Emergency Economic Stabilization Act of 2008, which authorizes the Treasury to purchase preferred stock and warrants from US financial institutions.

First Banks receives approval and funding to participate in US Treasury's CPP

First Banks has received approval and funding from the US Department of the Treasury to participate in its troubled asset relief program's capital purchase program authorized by the Emergency Economic Stabilization Act of 2008, which authorizes the Treasury to purchase preferred stock and warrants from US financial institutions.

First Midwest Bancorp, Inc. Participates in Treasury's Capital Purchase and FDIC Insurance Programs

ITASCA, IL -- (Marketwire) -- 12/05/08 -- First Midwest Bancorp, Inc. (the "Company" or "First Midwest") (FMBI), the parent of First Midwest Bank, today announced the sale of $193 million in preferred shares to the U.S. Treasury as a part of the government's Capital Purchase Program ("CPP") under the Emergency Economic Stabilization Act of 2008. The Treasury's investment in First Midwest is part of the government's program to infuse capital into the nation's healthy financial institutions.

Great Southern Bancorp Receives $58 Million Under Treasury Program

(financialwire.net via COMTEX) -- GSBC | Quote | Chart | News | PowerRating -- December 8, 2008 (FinancialWire) -- Great Southern Bancorp (NASDAQ: GSBC | Quote | Chart | News | PowerRating) (Current Market Cap: US$117.74 Mil.) has received $58.0 million from the U.S. Treasury under Treasury's voluntary Capital Purchase Program. The company sold 58,000 shares of its newly authorized fixed rate cumulative perpetual preferred stock, series A, and issued a warrant to purchase 909,091 shares of common stock at $9.57 per share.

Heritage Oaks Bancorp to participate in US Treasury's voluntary Capital Purchase Program

(RTTNews) - Heritage Oaks Bancorp (HEOP), the parent company of Heritage Oaks Bank, on Wednesday said it received preliminary approval to participate in the U.S. Department of the Treasury's voluntary Capital Purchase Program. The Treasury has announced plans to purchase up to $250 billion of senior preferred shares on a voluntary basis issued by healthy U.S. financial institutions.

Heritage Oaks Bancorp to participate in US Treasury's voluntary Capital Purchase Program

(RTTNews) - Heritage Oaks Bancorp (HEOP: News ), the parent company of Heritage Oaks Bank, on Wednesday said it received preliminary approval to participate in the U.S. Department of the Treasury's voluntary Capital Purchase Program. The Treasury has announced plans to purchase up to $250 billion of senior preferred shares on a voluntary basis issued by healthy U.S. financial institutions.

Citizens South Banking Corporation to Participate in the U.S. Treasury Capital Purchase Program

GASTONIA, N.C., Dec. 1 /PRNewswire-FirstCall/ -- Citizens South Banking Corporation (Nasdaq: CSBC - News), reported today that the U.S. Treasury Department has given preliminary approval for the Company's participation in the Capital Purchase Program ("the CPP"). Citizens South plans to issue $20.5 million of senior preferred stock to the U.S. Treasury Department, along with warrants to purchase $3.1 million in common stock. Final closing of the transaction is expected within 30 days and is contingent upon the completion of standard closing documents.

HopFed Bancorp closes sale of $18.4 mln of preferred stock to U.S. Treasury Department under Capital Purchase Plan - Quick Facts

(RTTNews) - HopFed Bancorp Inc. (HFBC: News ) Friday completed the sale of $18.4 million of preferred stock to the U.S. Treasury Department under the Capital Purchase Plan. The company issued senior preferred shares to the U.S. Treasury that would pay a cumulative annual dividend of 5% for the first five years. After five years, the dividend would increase to 9%.

First Northern Community Bancorp Receives Preliminary Approval to Participate in the U.S. Treasury Capital Purchase Program

DIXON, Calif. (Business Wire) -- First Northern Community Bancorp (FNRN), holding company for First Northern Bank, today announced that it has received preliminary approval to participate in the U.S. Department of Treasury (“U.S. Treasury”) Capital Purchase Program (“CPP”). The Company applied for and was approved for up to a $17.5 million capital investment.

Seacoast Commerce Bank Approved For Government TARP Investment

today announced that the Treasury Department has preliminarily approved an investment in the Bank of up to $1.8 million in new capital under the TARP program. As part of the $700 Billion Emergency Economic Stabilization Act, the Treasury encouraged healthy banks to participate in the Capital Purchase Program to build capital to increase the flow of financing to U.S. businesses and consumers and to support the U.S. economy. Under the program, the Treasury will purchase senior preferred shares of stock, only available to qualifying, sound financial institutions.

Baltimore County Savings Banks closes $10.8M TARP deal (at bizjournals.com) and Regional Bank Sees 30% Gain in '08 (at CNBC)

City of Industry, CA --(www.FinancialNewsUSA.com)-- 12/31/2008 - Savings and Loans industry news provided by Financial News USA. The holding company for Baltimore County Savings Bank completed the sale of $10.8 million in shares to the U.S. Treasury under its stock purchase program late Tuesday. BCSB Bancorp Inc. (Nasdaq: BCSB) said Dec. 16 it had gained preliminary approval to participate in Treasury's Capital Purchase Program. In a news releas, BCSB said it issued 10,800 shares of Fixed Rate Cumulative Perpetual Preferred Stock to the Treasury. The stock will pay a dividend of 5 percent for the first five years and 9 percent thereafter. The deal also gives the government a warrant to buy up to 183,465 shares of common stock at an exercise price of $8.

Treasury: Help Only for 'Significant' Banks

The Treasury said on Friday said it will consider financial institution rescues and asset guarantees similar to those it provided Citigroup on a case-by-case basis.

Treasury looking at more Citigroup-style bailouts

WASHINGTON - The Treasury Department opened the door yesterday to using a Citigroup-style rescue package to help other troubled financial institutions.

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