Treasury Capital Purchase Program
The Treasury Capital Purchase Program is a program initiated by the U.S Treasury in October 2008 to purchase up to $250 billion of senior preferred shares on a voluntary basis in U.S. financial institutions, as part of its efforts to provide a firmer capital foundation for financial firms and to increase credit availability to consumers and businesses.
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Top 10 News Items 6/8-6/12: Treasury Approves 10 Banks to Repay TARP; Yields Rising on Mixed Auction Results; Crude Cracks $70/Barrel
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Hartford Financial (HIG) To Offer Up to $750M In Stock, Gets TARP Approval
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Principal Financial (PFG) Declines Participation in U.S. Treasury's Capital Purchase Program
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Pinnacle Financial (PNFP) Prices 7.7 Million Common Share Offering at $13 Per Share
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Pinnacle Financial Partners (PNFP) To Offer Up to $100M In Stock, May Payback TARP
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TARP Payback Separates Banks Into "The Anointed" and "The Zombies"
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American Express (AXP) to Repay $3.39B in TARP Funds; Sees $0.18 Impact on Qtr. EPS
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Capital One (COF) Gets Approval to Repay $3.55B in TARP Funds
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U.S. Bancorp (USB) Approves Redemption $6.6 Billion of Preferred Stock from the U.S. Treasury Department
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US Bancorp (USB) to Repay $6.6B in TARP Funds; Comments on Impact to Financials
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Treasury Allows 10 Large Financial Institutions To Payback $68 Billion In TARP Funds
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Hartford Financial (HIG) Chief Expects TARP Funds Soon, CEO To Retire Soon
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Monroe Bancorp (MROE) Slashes Quarterly Dividend to $0.01 Per Share
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After-Hours Movers 6/1: NAVR, DDUP Higher; MTZ, DCT, ICON, LGF, HIW, AXP Lower
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American Express (AXP) Announces $500 Million Public Equity Offering of Stock
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Prudential Financial (PRU) To Offer $1.25B In Stock, Won't Participate In TARP
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First Community Bancshares (FCBC) To Offer $50M In Stock
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First Niagara Financial (FNFG) Among the First Banks to Repay TARP Proceeds to the U.S. Treasury
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PNC Financial (PNC) Raises $600M Through ATM Equity Offering
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Geithner Written Testimony to the Senate Banking Committee 5/20
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State Street (STT) Prices $500M Offering of 4.30% Senior Notes
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Allstate (ALL) Declares $0.20/Sh Qtr Dividend, Will Not Participate in TARP
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State Street (STT) Prices 51.3M Shares at $39, Plans to Repay TARP
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State Street (STT) To Offer Common Stock, Repay TARP
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Principal Financial (PFG) Confirms Preliminary Approval for TARP Funds
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Ameriprise Financial (AMP) Said Although Approved It Has Declined TARP Funding
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Prudential Financial (PRU) Confirms It Has Received Approval For TARP Funds
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Allstate (ALL) Receives Preliminary Approval to Receive TARP Funds; Will Conduct 'Prudent Review' of Participation
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Wells Fargo (WFC) to Make $312.5M Dividend Payment to U.S. Treasury
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Geithner's Speech Before Independent Community Bankers of America
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BB&T (BBT) Prices 75M Shares at $20, 11% Discount
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Bank of New York Mellon (BK) Announces $1 Billion Common Share Offering
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Capital One (COF) Prices 56M "TARP-Payback" Offering at $27.75, 11.5% Discount
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Capital One (COF) To Offer 56M Shares So It Can Repay TARP
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BB&T Corp (BBT) Announced $1.5B In Common Stock Offering, Plans To Repay TARP; Cuts Dividend
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Goldman Sachs (GS) No Need Further Capital, Confident It Can Repay TARP Soon
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Statement On Stress Tests: Banks Have Until June 8 to Develop a Detailed Capital Plan and Until Nov 9 to Implement
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Texas Capital Bancshares (TCBI) Prices 4M Shares at $13.75/Share for Proceeds of ~$55M
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Northwest Bancorp (NWSB) Rejects CPP Funds
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Monroe Bancorp (MROE) Slashes Dividend to $0.01 Per Share
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Independent Bank Corp. (INDB) Announces Imminent Repayment of Entire $78 Million Investment Received Under TARP
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Old National Bancorp (ONB) Provides Notice to Repay TARP
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Morning Movers 4/20: JAVA, PAS, ABTL, PBG, NVGN Higher; DSCO, DISK, VSNT, NTLS, MMR Lower
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TCF Financial (TCB) to Pay Back $361.2M of TARP Preferred Stock; Cuts Qtr. Dividend from $0.25 to $0.05/Share
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Shore Bancshares (SHBI) Completes Repurchase of Preferred Stock Under TARP
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Treasury Survey Shows Mortgage Lending Continued to Grow Among Top 21 Banks Receiving Government Funds
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After-Hours Movers 4/13: DBRN, FSS, C, MET, GM Higher; TLB, SXL, AKR, GS, RFMI Lower
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MetLife (MET) Elects Not to Participate in Treasury's Capital Purchase Program
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MetLife (MET) will not participate in U.S. Department of the Treasury's Capital Purchase Program
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Unusual 11 Mid-Day Movers 4/13: CAEI, FEED, GCI, BGP Higher; GNW, SPW, WFR, GM Lower
