Washington Banking Company (Oak Harbor, WA): Repurchased all outstanding CPP preferred shares from Treasury’s original investment in the institution totaling $26.4 million and paid accrued dividends totaling $208,842 (Total Proceeds Today for Taxpayers: $26.6 million)
Stockmens Financial Corporation (Rapid City, SD): Repurchased CPP preferred shares totaling $4.0 million and paid accrued dividends totaling $31,667 (Total Proceeds Today for Taxpayers: $4.0 million) Note: After this transaction, Treasury holds remaining outstanding Stockmens Financial Corporation CPP preferred shares totaling $11.6 million.
Treasury has made overall TARP disbursements of $389 billion. With today’s proceeds, TARP repayments ($235 billion) and income from dividends, interest, and the sale of other securities ($35 billion) total $270 billion.
