US Treasury Announces Six Cos Repay TARP Funds

Date : 12/22/2010 @ 4:32PM
Source : Dow Jones News
Stock : Huntington Bancshares Incorporated (MM) (HBAN)
Quote : 13.12  0.0 (0.00%) @ 4:00AM

US Treasury Announces Six Cos Repay TARP Funds

Huntington Bancshares Incorporated (MM) (NASDAQ:HBAN)
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The U.S. Treasury Department announced six financial firms repaid funds they received in the government's Wall Street bailout, delivering about $2.7 billion to taxpayers.

Through the Troubled Asset Relief Program, created in 2008, Treasury provided capital to banks and other financial companies sent reeling by the financial crisis.

As the economy recovers, companies that took TARP money have been making repayments and even delivering accrued dividends.

Treasury disbursed $389 billion in TARP money. On Wednesday it said repayments along with investment income, including dividends and interest, total $269 billion.

The $2.7 billion figure includes repayments and dividends. On Wednesday, Treasury said Huntington Bancshares (HBAN), of Columbus Ohio, repurchased $1.4 billion in TARP investments and paid $7.2 million in dividends.

First Horizon National Corp. (FHN), of Memphis, Tenn., repurchased $866.5 million in TARP investments and paid $4.5 million in dividends.

Wintrust Financial Corp. (WTFC), of Lake Forest, Ill., repurchased $250.0 million and paid $1.3 million in dividends.

Susquehanna Bancshares Inc. (SUSQ), of Lititz, Pa., repurchased $100.0 million and paid $513,889 in dividends.

Heritage Financial Corp. (HFWA), of Olympia, Wa., repurchased $24.0 million and paid $123,333 in dividends.

The Bank of Kentucky Financial Corp. (BKWF), of Crestview Hills, Ky., repurchased $17 million and paid $87,361 in dividends.

 
   -By Jeff Bater, Dow Jones Newswires; 202 862 9249; jeff.bater@dowjones.com 
 
 
 

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