Banks Which Have Paid Back TARP Portfolio - Stockpickr! Your Source for Stock Ideas

Banks Which Have Paid Back TARP

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Date updated:03-10-2009

Troubled Asset Relief Program...Some banks are not so troubled
In early October amidst a global financial melt-down, than Secretary of the Treasury Hank Paulson, with the approval and oversight of congress and a special finance committee created the “Troubled Asset Relief Program”, commonly referred to as ‘TARP’ to support systemically important financial institutions.
The original goal of the TARP was to to purchase or insure up to $700 billion of "troubled" assets off of the bank’s balance sheet, with the ultimate goal of finding much needed price discover on complex, and often archaic derivatives, much of which were crippling financial institutions.
However, as the global credit markets measured most accurately by the TED Spread and 3-month LIBOR came to a grinding halt, Treasury at the time thought it would be best to simply ‘inject’ capital, in the form of preferred shares to bolster the capital ratio of the banks going forward.

NTRS
Northern Trust Co
$47.24
-0.90%
$47.54

NTRS paid back $1.6 billion

People owning NTRS also tend to own: BAC BBT C CMA FITB JPM KEY

TheStreet.com Rating: C+ What is this?

USB
Us Bancorp
$23.29
+0.69%
$22.95

USB paid back $6.6 billion

People owning USB also tend to own: ACE BAC C CB COP CVX DIS

TheStreet.com Rating: C What is this?

NYB
New York Cmmty Bn
$11.27
-1.83%
$11.44

NYBrejected $600 million in TARP money citing "sufficient to support the communities we serve and to enhance shareholder value by growing our assets, our franchise, and our earnings capacity”

People owning NYB also tend to own: CAR COF COP DOW FRN GIS HD

TheStreet.com Rating: C+ What is this?

AF
Astoria Finl Corp
$10.41
0.00%
$N/A

AF rejected $375 million dollars

People owning AF also tend to own: AKS CBSS CNB CNO CVC DISCA ETFC

TheStreet.com Rating: C What is this?

UBOH
United Bancshares
$9.24
0.00%
$N/A

UBOH rejected $30 million dollars

People owning UBOH also tend to own: AAP COP CSCO DE ORCL STR AF

TheStreet.com Rating: C+ What is this?

C
Citigroup Inc
$4.20
-1.41%
$4.19

Citigroup received $50 billion dollars in preferred stock which was ultimately converted into tangible common equity, ultimately giving the U.S government a 40% stake in the bank. Additionally, the U.S tax-payer is also on the ‘hook’ for $306 billion dollars in asset guarantees.

People owning C also tend to own: ACE BAC CB COP CVX DIS GS

TheStreet.com Rating: D What is this?

BAC
Bk Of America Cp
$16.09
+0.06%
$16.03

Bank of America (BAC) received $45 billion dollars in preferred stock, and $118 billion dollars in asset guarantees.

People owning BAC also tend to own: AA ADP AVP BRK-B BUD CSCO CX

TheStreet.com Rating: C- What is this?

AIG
Amer Intl Group N
$35.10
-1.57%
$35.62

American International Group (AIG) received $40 billion dollars in preferred stock from the TARP, and an additional $120 billion dollars from the Federal Reserve. On March 4th 2009 before the Senate house banking committee Federal Reserve Chairman Ben S. Bernanke said “If there is a single episode in this entire 18 months that has made me more angry, I can’t think of one other than AIG”

People owning AIG also tend to own: AA IBM INTC JNJ JPM KO MSFT

TheStreet.com Rating: D- What is this?

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