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Inside Washington (08/20/2012)
  • WASHINGTON (8/21/12)--As part of its ongoing efforts to wind down and recover its remaining Capital Purchase Program (CPP) investments under the Troubled Asset Relief Program (TARP), the Treasury Department Friday said it would sell its preferred stock positions in five banks: BNC Bancorp, High Point, N.C.; First Community Corp., Lexington, S.C.; First National Corp., Strasburg, Va.; Guaranty Federal Bancshares Inc., Springfield, Mo.; and Mackinac Financial Corp., Manistique, Mich. Treasury expects to begin the public offerings today. To date, Treasury has recovered $265 billion from TARP's bank programs through repayments, dividends, interest and other income--compared with the $245 billion initially invested. Treasury has remaining outstanding CPP investments in 304 banks …


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