Only $8.2 billion remains in outstanding Capital Purchase Program investments made in 259 banks, as the Treasury continues to wind down the Troubled Asset Relief Program, according to analysts with Keefe, Bruyette & Woods. Earlier this year, the Treasury penned a blog outlining how it would phase out TARP.
The Treasury initially invested $204.9 billion in 707 banking institutions via TARP, including the acquisition of mortgage securities. As of November 14, $219.6 billion was received in repayments and income.
In its latest TARP tracker report this week, KBW noted the completion of Treasury’s seventh and eighth public auction. The seventh auction of $77 million in total investments in 11 banks was completed on October 31 and proceeds reached $67 million. The eighth auction completed in early November, comprised of $72 million in total investments in 11 banks and proceeds hit $65 million.
Treasury’s ninth public auction of $121 million in total investments in 11 banks commences Friday. The banks included in the auction are AKPB, BONC, CART, CBB Bancorp, Clover Community Bankshares, Community Bancshares of Mississippi, CBBC, Corning Savings & Loan Association, Country Bank Shares, FFWC, Hometown Bancshares, KSBI, Layton Park Financial Group, PKBK and TriSummit Bank.
PVTB and EFSC fully repaid TARP in the amounts of $244 million and $35 million, respectively. Partial repayments were made by ICBN, FIRT and FSNF.
Through October, the Treasury reported $11.8 billion in CPP dividends and interest and tallied $364.7 million in missed dividend and interest payments.