L.A. Times:Bank bailouts appear to be paying off

[jaysunb]

The U.S. gets billions back as Wall Street rebounds. But critics say the TARP fund will still end up in the red.

By Jim Puzzanghera and Walter Hamilton

December 4, 2009

Reporting from Washington and New York - The government's bailout of the banking system is turning out to be far from the fiscal sinkhole so many had feared.

The $700-billion Troubled Asset Relief Program, known as TARP, was reluctantly created by Congress last fall despite criticism that it was a huge risk that would only encourage the profligate ways of Wall Street. But in recent months, tens of billions of dollars have begun flowing back from banks to the U.S. Treasury.

Bank of America Corp.'s decision this week to repay one of the largest chunks -- $45 billion -- reflects the stunning turnaround of the financial industry and demonstrates that the government's unpopular medicine appears to have saved the patient. And the price tag isn't as large as expected.

"It turns out, actually, TARP -- as wildly unpopular as it has been -- has been much cheaper than any of us anticipated," President Obama said Thursday at a White House summit on creating jobs.

The TARP fund may break even, that is, on its first and biggest use of taxpayer money: investing billions -- $205 billion as of Monday -- directly in banks.

Including Bank of America's expected repayment, $116 billion -- more than half -- of that amount has already come back to the government, along with about $10 billion in dividends and interest.

http://www.latimes.com/business/la-fi-tarp4-2009dec04,0,5593349.story

[Double T]

1. Sure. Borrowing $$$ at 0% interest would allow ANYONE to make a lot of $$$.

The banks then turn around and jack up their fees, charges and interest rates and screw the very people that bailed their miserable asses out. The 'corporate republic of greed' is alive and well and back on course for the ultimate collapse.

[jaysunb]

3. Jacked up bank fees' help a lot.

:evilfrown:

[Cessna Invesco Palin]

5. Well in this case it appears to be making us money.

The 'corporate republic of greed' is alive and well and back on course for the ultimate collapse.

It wouldn't surprise me very much if you were one of the people ranting about how unscrupulous credit practices got us into this mess in the first place.

[Double T]

17. In part, it did contribute to getting US into this mess.

It's making the banks and government $$$. Sure isn't doing a damn thing for small business or the 17% of the population that lost their job. I suppose your position is as long as money is being made by dollar leveraging, 30% interest credit cards, no income verification/designer mortgages and fraudulent securities its OK.

[FarLeftFist]

2. Gambler's Anonymous

[orwell]

4. Stop the good news...

...we're having a pity party.

[HamdenRice]

6. My guess is they'll make money on the Wall St. banks and lose it on Main Street

A lot of people don't realize that since the Obama administration came in, TARP has invested in hundreds of small to medium sized banks across the country, and many of them may go under. But it was a good try to save main street -- like this list of $10 million and less TARP investments:


Blackhawk Bancorp (Details) Bank (Private) Wis. $10 million
BOH Holdings (Details) Bank (Private) Texas $10 million
Center Bancorp (Details) Bank (Public) N.J. $10 million
Central Bancorp (Details) Bank (Public) Mass. $10 million
ColoEast Bankshares (Details) Bank (Private) Colo. $10 million
First Bankers Trustshares (Details) Bank (Private) Ill. $10 million
First Litchfield Financial Corp (Details) Bank (Public) Conn. $10 million
Mid Penn Bancorp (Details) Bank (Public) Pa. $10 million
Mid-Wisconsin Financial Services (Details) Bank (Private) Wis. $10 million
NCAL Bancorp (Details) Bank (Private) Calif. $10 million
New Hampshire Thrift Bancshares (Details) Bank (Public) N.H. $10 million
Northway Financial (Details) Bank (Private) N.H. $10 million
Stewardship Financial Corp (Details) Bank (Public) N.J. $10 million
Uwharrie Capital Corp (Details) Bank (Private) N.C. $10 million
Century Financial Services Corporation (Details) Bank (Private) N.M. $10 million
HomeTown Bankshares Corporation (Details) Bank (Private) Va. $10 million
Greer Bancshares (Details) Bank (Private) S.C. $10 million
Regent Bancorp (Details) Bank (Private) Fla. $10 million
Penn Liberty Financial Corp (Details) Bank (Private) Pa. $10 million
Coastal Banking Company (Details) Bank (Public) Fla. $10 million
Universal Bancorp (Details) Bank (Private) Ind. $9.9 million
TCB Corporation (Details) Bank (Private) S.C. $9.7 million
Southern Missouri Bancorp (Details) Bank (Public) Mo. $9.6 million
Moneytree Corporation (Details) Bank (Private) Tenn. $9.5 million
Premier Bank Holding Company (Details) Bank (Private) Fla. $9.5 million
Florida Business BancGroup (Details) Bank (Private) Fla. $9.5 million
City National Bancshares Corporation (Details) Bank (Community Development) N.J. $9.4 million
FCB Bancorp (Details) Bank (Private) Ky. $9.3 million
PSB Financial Corporation (Details) Bank (Private) La. $9.3 million
Provident Community Bancshares (Details) Bank (Public) S.C. $9.3 million
Carrollton Bancorp (Details) Bank (Public) Md. $9.2 million
Elmira Savings Bank (Details) Bank (Public) N.Y. $9.1 million
Broadway Financial Corporation (Details) Bank (Public) Calif. $9 million
Community Partners Bancorp (Details) Bank (Public) N.J. $9 million
Grandsouth Bancorporation (Details) Bank (Private) S.C. $9 million
HPK Financial Corporation (Details) Bank (Private) Ill. $9 million
UBT Banchares (Details) Bank (Private) Kan. $9 million
RCB Financial Corporation (Details) Bank (Private) Ga. $8.9 million
Salisbury Bancorp (Details) Bank (Public) Conn. $8.8 million
Citizens First Corp (Details) Bank (Public) Ky. $8.8 million
Farmers Bank (Details) Bank (Private) Va. $8.8 million
Equity Bancshares (Details) Bank (Private) Kan. $8.8 million
Georgia Commerce Bancshares (Details) Bank (Private) Ga. $8.7 million
United American Bank (Details) Bank (Private) Calif. $8.7 million
Sonoma Valley Bancorp (Details) Bank (Private) Calif. $8.7 million
BancStar, Inc. (Details) Bank (Private) Mo. $8.6 million
First Western Financial (Details) Bank (Private) Colo. $8.6 million
Summit State Bank (Details) Bank (Public) Calif. $8.5 million
Great River Holding Company (Details) Bank (Private) Minn. $8.4 million
Annapolis Bancorp (Details) Bank (Public) Md. $8.2 million
F&M Bancshares (Details) Bank (Private) Tenn. $8.1 million
Syringa Bancorp (Details) Bank (Private) Idaho $8 million
MS Financial (Details) Bank (Private) Texas $7.7 million
Commonwealth Business Bank (Details) Bank (Private) Calif. $7.7 million
Metro City Bank (Details) Bank (Private) Ga. $7.7 million
Oak Ridge Financial Services (Details) Bank (Public) N.C. $7.7 million
Valley Commerce Bancorp (Details) Bank (Private) Calif. $7.7 million
First Gothenburg Bancshares (Details) Bank (Private) Neb. $7.6 million
Country Bank Shares (Details) Bank (Private) Neb. $7.5 million
Centrix Bank & Trust (Details) Bank (Private) N.H. $7.5 million
Emclaire Financial Corp (Details) Bank (Public) Pa. $7.5 million
The Little Bank (Details) Bank (Private) N.C. $7.5 million
BNB Financial Services Corp (Details) Bank (Private) N.Y. $7.5 million
Gulfstream Bancshares (Details) Bank (Private) Fla. $7.5 million
First Eagle Bancshares, Inc. (Details) Bank (Private) Ill. $7.5 million
GulfSouth Private Bank (Details) Bank (Private) Fla. $7.5 million
Citizens Bancshares (Details) Bank (Community Development) Ga. $7.5 million
Avenue Financial Holdings (Details) Bank (Private) Tenn. $7.4 million
First Sound Bank (Details) Bank (Public) Wash. $7.4 million
First BancTrust Corp (Details) Bank (Private) Ill. $7.4 million
Vantium Capital, Inc. (Details) Mortgage Servicer Texas $7.3 million
Western Community Bancshares (Details) Bank (Private) Calif. $7.3 million
FFW Corp (Details) Bank (Private) Ind. $7.3 million
Millenium Bancorp (Details) Bank (Private) Colo. $7.3 million
Central Federal Corp (Details) Bank (Public) Ohio $7.2 million
Central Valley Community Bancorp (Details) Bank (Public) Calif. $7 million
Fidelity Bancorp (Details) Bank (Public) Pa. $7 million
Hamilton State Bancshares (Details) Bank (Private) Ga. $7 million
Chicago Shore Corporation (Details) Bank (Private) Ill. $7 million
Heartland Bancshares, Inc. (Details) Bank (Private) Ind. $7 million
Community Financial Shares, Inc. (Details) Bank (Private) Ill. $7 million
Guaranty Bancorp (Details) Bank (Private) N.H. $6.9 million
Idaho Bancorp (Details) Bank (Private) Idaho $6.9 million
NC Bancorp (Details) Bank (Private) Ill. $6.9 million
Western Illinois Bancshares (Details) Bank (Private) Ill. $6.9 million
Security California Bancorp (Details) Bank (Private) Calif. $6.8 million
Pierce County Bancorp (Details) Bank (Private) Wash. $6.8 million
Harbor Bankshares Corporation (Details) Bank (Community Development) Md. $6.8 million
Monarch Community Bancorp (Details) Bank (Public) Mich. $6.8 million
Premier Bancorp (Details) Bank (Community Development) Ill. $6.8 million
Pathfinder Bancorp, Inc. (Details) Bank (Public) N.Y. $6.8 million
Highlands Independent Bancshares (Details) Bank (Private) Fla. $6.7 million
Fidelity Federal Bancorp (Details) Bank (Private) Ind. $6.7 million
Alarion Financial Services (Details) Bank (Private) Fla. $6.5 million
Pacific International Bancorp (Details) Bank (Public) Wash. $6.5 million
Biscayne Bancshares, Inc. (Details) Bank (Private) Fla. $6.4 million
First Intercontinental Bank (Details) Bank (Private) Ga. $6.4 million
Premier Financial Corp (Details) Bank (Private) Iowa $6.3 million
Citizens Commerce Bancshares (Details) Bank (Private) Ky. $6.3 million
Illinois State Bancorp, Inc. (Details) Bank (Private) Ill. $6.3 million
Cardinal Bancorp II, Inc. (Details) Bank (Private) Mo. $6.3 million
Randolph Bank & Trust Company (Details) Bank (Private) N.C. $6.2 million
Moscow Bancshares (Details) Bank (Private) Tenn. $6.2 million
Meridian Bank (Details) Bank (Private) Pa. $6.2 million
OSB Financial Services (Details) Bank (Private) Texas $6.1 million
American State Bancshares (Details) Bank (Private) Kan. $6 million
Beach Business Bank (Details) Bank (Private) Calif. $6 million
IBW Financial Corporation (Details) Bank (Private) D.C. $6 million
ICB Financial (Details) Bank (Private) Calif. $6 million
Patapsco Bancorp (Details) Bank (Private) Md. $6 million
Peninsula Bank Holding Co (Details) Bank (Public) Calif. $6 million
Gateway Bancshares (Details) Bank (Private) Ga. $6 million
First Vernon Bancshares (Details) Bank (Private) Ala. $6 million
McLeod Bancshares, Inc. (Details) Bank (Private) Minn. $6 million
Mortgage Center, LLC (Details) Mortgage Servicer Mich. $6 million
Howard Bancorp (Details) Bank (Private) Md. $6 million
Rising Sun Bancorp (Details) Bank (Private) Md. $6 million
IA Bancorp, Inc. (Details) Bank (Private) N.J. $6 million
Leader Bancorp (Details) Bank (Private) Mass. $5.8 million
Security Business Bancorp (Details) Bank (Private) Calif. $5.8 million
Central Bancshares (Details) Bank (Private) Texas $5.8 million
FPB Bancorp (Details) Bank (Public) Fla. $5.8 million
Seaside National Bank & Trust (Details) Bank (Private) Fla. $5.7 million
United Financial Banking Companies (Details) Bank (Private) Va. $5.7 million
Liberty Financial Services (Details) Bank (Community Development) La. $5.6 million
Waukesha Bankshares (Details) Bank (Private) Wis. $5.6 million
Boscobel Bancorp, Inc (Details) Bank (Private) Wis. $5.6 million
First Southwest Bancorporation (Details) Bank (Private) Colo. $5.5 million
Mission Valley Bancorp (Details) Bank (Community Development) Calif. $5.5 million
Valley Community Bank (Details) Bank (Public) Calif. $5.5 million
One Georgia Bank (Details) Bank (Private) Ga. $5.5 million
Legacy Bancorp (Details) Bank (Community Development) Wis. $5.5 million
The Private Bank of California (Details) Bank (Private) Calif. $5.5 million
Connecticut Bank and Trust Company (Details) Bank (Public) Conn. $5.4 million
AMS Servicing, LLC (Details) Mortgage Servicer N.Y. $5.4 million
CUC Mortgage Corporation (Details) Mortgage Servicer N.Y. $5.3 million
Midtown Bank & Trust Company (Details) Bank (Private) Ga. $5.2 million
Mission Community Bancorp (Details) Bank (Private) Calif. $5.1 million
Capital Commerce Bancorp, Inc. (Details) Bank (Private) Wis. $5.1 million
Franklin Bancorp, Inc. (Details) Bank (Private) Mo. $5.1 million
PennyMac Loan Services (Details) Mortgage Servicer Calif. $5 million
Blue River Bancshares (Details) Bank (Private) Ind. $5 million
Financial Security Corp (Details) Bank (Private) Wyo. $5 million
First Express of Nebraska (Details) Bank (Private) Neb. $5 million
Southern Illinois Bancorp (Details) Bank (Private) Ill. $5 million
The First Bancshares (Details) Bank (Public) Miss. $5 million
BlackRidge Financial, Inc. (Details) Bank (Private) N.D. $5 million
Covenant Financial Corporation (Details) Bank (Private) Miss. $5 million
AmFirst Financial Services, Inc. (Details) Bank (Private) Neb. $5 million
Germantown Capital Corporation (Details) Bank (Private) Tenn. $5 million
Private Bancorporation (Details) Bank (Private) Minn. $5 million
First Bank (Details) Mortgage Servicer Mo. $4.9 million
York Traditions Bank (Details) Bank (Private) Pa. $4.9 million
Southern Heritage Bancshares, Inc. (Details) Bank (Private) Tenn. $4.9 million
Mortgage Clearing Corporation (Details) Mortgage Servicer Okla. $4.9 million
BNC Financial Group (Details) Bank (Private) Conn. $4.8 million
First Menasha Bancshares (Details) Bank (Private) Wis. $4.8 million
Alaska Pacific Bankshares (Details) Bank (Public) Alaska $4.8 million
Cache Valley Banking Company (Details) Bank (Private) Utah $4.8 million
Monument Bank (Details) Bank (Private) Md. $4.7 million
Capital Bancorp (Details) Bank (Private) Md. $4.7 million
Western Reserve Bancorp, Inc (Details) Bank (Private) Ohio $4.7 million
Virginia Company Bank (Details) Bank (Private) Va. $4.7 million
CalWest Bancorp (Details) Bank (Private) Calif. $4.7 million
First Priority Financial Corp (Details) Bank (Private) Pa. $4.6 million
First Colebrook Bancorp (Details) Bank (Private) N.H. $4.5 million
Puget Sound Bank (Details) Bank (Private) Wash. $4.5 million
Georgia Primary Bank (Details) Bank (Private) Ga. $4.5 million
1st Enterprise Bank (Details) Bank (Private) Calif. $4.4 million
Community Pride Bank Corporation (Details) Bank (Private) Minn. $4.4 million
Pinnacle Bank Holding Company (Details) Bank (Private) Fla. $4.4 million
Metropolitan Capital Bancorp, Inc. (Details) Bank (Private) Ill. $4.4 million
Northeast Bancorp (Details) Bank (Public) Maine $4.2 million
Servis One, Inc. (Details) Mortgage Servicer Pa. $4.2 million
IBC Bancorp, Inc. (Details) Bank (Community Development) Ill. $4.2 million
Pacific Coast National Bancorp (Details) Bank (Public) Calif. $4.1 million
CB Holding Corp. (Details) Bank (Private) Ill. $4.1 million
Pacific Commerce Bank (Details) Bank (Public) Calif. $4.1 million
The Bank of Currituck (Details) Bank (Private) N.C. $4 million
California Bank of Commerce (Details) Bank (Private) Calif. $4 million
Capital Pacific Bancorp (Details) Bank (Private) Ore. $4 million
Carolina Trust Bank (Details) Bank (Public) N.C. $4 million
Hilltop Community Bancorp (Details) Bank (Private) N.J. $4 million
Naples Bancorp (Details) Bank (Private) Fla. $4 million
Premier Service Bank (Details) Bank (Private) Calif. $4 million
Santa Lucia Bancorp (Details) Bank (Public) Calif. $4 million
SBT Bancorp (Details) Bank (Private) Conn. $4 million
Todd Bancshares (Details) Bank (Private) Ky. $4 million
SV Financial, Inc. (Details) Bank (Private) Ill. $4 million
Grand Capital Corporation (Details) Bank (Private) Okla. $4 million
Investors Financial Corporation of Pettis County (Details) Bank (Private) Mo. $4 million
Enterprise Financial Services Group (Details) Bank (Private) Pa. $4 million
KS Bancorp, Inc. (Details) Bank (Private) N.C. $4 million
Providence Bank (Details) Bank (Private) N.C. $4 million
Texas National Bancorporation (Details) Bank (Private) Texas $4 million
Community Business Bank (Details) Bank (Private) Calif. $4 million
Fidelity Bancorp, Inc (Details) Bank (Private) La. $3.9 million
Peoples Bancshares of TN (Details) Bank (Private) Tenn. $3.9 million
Community Bancshares, Inc. (Details) Bank (Private) Ariz. $3.9 million
Redwood Capital Bancorp (Details) Bank (Private) Calif. $3.8 million
Tifton Banking Company (Details) Bank (Private) Ga. $3.8 million
Pascack Community Bank (Details) Bank (Private) N.J. $3.8 million
First Financial Bancshares (Details) Bank (Private) Kan. $3.8 million
Financial Services of Winger, Inc. (Details) Bank (Private) Minn. $3.7 million
Pathway Bancorp (Details) Bank (Private) Neb. $3.7 million
Triad Bancorp (Details) Bank (Private) Mo. $3.7 million
Patterson Bancshares (Details) Bank (Private) La. $3.7 million
AMB Financial Corp (Details) Bank (Private) Ind. $3.7 million
Allied First Bancorp (Details) Bank (Private) Ill. $3.7 million
CedarStone Bank (Details) Bank (Private) Tenn. $3.6 million
Merchants and Manufacturers Bank Corporation (Details) Bank (Private) Ill. $3.5 million
AB&T Financial Corp (Details) Bank (Public) N.C. $3.5 million
Mercantile Capital Corp (Details) Bank (Private) Mass. $3.5 million
First Alliance Bancshares (Details) Bank (Private) Tenn. $3.4 million
Madison Financial Corp (Details) Bank (Private) Ky. $3.4 million
First Bank of Charleston (Details) Bank (Private) W.Va. $3.3 million
California Oaks State Bank (Details) Bank (Private) Calif. $3.3 million
Mountain Valley Bancshares, Inc. (Details) Bank (Private) Ga. $3.3 million
Congaree Bancshares (Details) Bank (Private) S.C. $3.3 million
Treaty Oak Bancorp (Details) Bank (Private) Texas $3.3 million
Hometown Bancorp of Alabama (Details) Bank (Private) Ala. $3.3 million
FPB Financial Corp (Details) Bank (Public) La. $3.2 million
First Independence Corporation (Details) Bank (Community Development) Mich. $3.2 million
Oregon Bancorp (Details) Bank (Private) Ore. $3.2 million
Union Bank & Trust Company (Details) Bank (Private) N.C. $3.2 million
Crazy Woman Creek Bancorp (Details) Bank (Private) Wyo. $3.1 million
Fortune Financial Corporation (Details) Bank (Private) Mo. $3.1 million
Highlands State Bank (Details) Bank (Private) N.J. $3.1 million
Grand Mountain Bancshares, Inc. (Details) Bank (Private) Colo. $3.1 million
Lone Star Bank (Details) Bank (Private) Texas $3.1 million
Sound Banking Company (Details) Bank (Private) N.C. $3.1 million
Catskill Hudson Bancorp (Details) Bank (Private) N.Y. $3 million
Citizens Community Bank (Details) Bank (Private) Va. $3 million
Clover Community Bankshares (Details) Bank (Private) S.C. $3 million
Marine Bank & Trust Company (Details) Bank (Private) Fla. $3 million
PGB Holdings (Details) Bank (Community Development) Ill. $3 million
St. Johns Bancshares (Details) Bank (Private) Mo. $3 million
Tennessee Valley Financial Holdings (Details) Bank (Private) Tenn. $3 million
Freeport Bancshares (Details) Bank (Private) Ill. $3 million
Fidelity Resources Company (Details) Bank (Private) Texas $3 million
Bank of Commerce (Details) Bank (Private) N.C. $3 million
Redwood Financial (Details) Bank (Private) Minn. $3 million
F & C Bancorp, Inc. (Details) Bank (Private) Mo. $3 million
Alliance Bancshares (Details) Bank (Private) Ga. $3 million
Santa Clara Valley Bank (Details) Bank (Private) Calif. $2.9 million
Berkshire Bancorp (Details) Bank (Private) Pa. $2.9 million
US Metro Bank (Details) Bank (Private) Calif. $2.9 million
Omega Capital Corp (Details) Bank (Private) Colo. $2.8 million
Prairie Star Bancshares (Details) Bank (Private) Kan. $2.8 million
Tri-State Bank of Memphis (Details) Bank (Community Development) Tenn. $2.8 million
TriSummit Bank (Details) Bank (Private) Tenn. $2.8 million
SouthFirst Bancshares (Details) Bank (Private) Ala. $2.8 million
Worthington Financial Holdings, Inc. (Details) Bank (Private) Ala. $2.7 million
Bank of George (Details) Bank (Private) Nev. $2.7 million
Regent Capital Corporation (Details) Bank (Private) Okla. $2.7 million
CBB Bancorp (Details) Bank (Private) Ga. $2.6 million
Deerfield Financial Corporation (Details) Bank (Private) Wis. $2.6 million
Manhattan Bancshares, Inc. (Details) Bank (Private) Ill. $2.6 million
Community Investors Bancorp (Details) Bank (Private) Ohio $2.6 million
First Resource Bank (Details) Bank (Private) Pa. $2.6 million
Goldwater Bank (Details) Bank (Private) Ariz. $2.6 million
Community 1st Bank (Details) Bank (Private) Calif. $2.6 million
ORNL Federal Credit Union (Details) Mortgage Servicer Tenn. $2.5 million
Plato Holdings Inc. (Details) Bank (Private) Minn. $2.5 million
AmeriBank Holding Company (Details) Bank (Private) Okla. $2.5 million
Grand Financial Corporation (Details) Bank (Private) Miss. $2.4 million
Citizens Bank & Trust Company (Details) Bank (Private) La. $2.4 million
CSRA Bank Corp (Details) Bank (Private) Ga. $2.4 million
Green Circle Investments (Details) Bank (Private) Iowa $2.4 million
Brogan Bankshares, Inc. (Details) Bank (Private) Wis. $2.4 million
NEMO Bancshares Inc. (Details) Bank (Private) Mo. $2.3 million
ShoreBank (Details) Mortgage Servicer Ill. $2.3 million
IBT Bancorp (Details) Bank (Private) Texas $2.3 million
Columbine Capital Corp (Details) Bank (Private) Colo. $2.3 million
CenterBank (Details) Bank (Private) Ohio $2.3 million
First Business Bank, N.A. (Details) Bank (Private) Calif. $2.2 million
First Choice Bank (Details) Bank (Private) Calif. $2.2 million
Security Bancshares of Pulaski County (Details) Bank (Private) Mo. $2.2 million
Titonka Bancshares (Details) Bank (Private) Iowa $2.1 million
Ojai Community Bank (Details) Bank (Private) Calif. $2.1 million
Market Bancorporation (Details) Bank (Private) Minn. $2.1 million
Surrey Bancorp (Details) Bank (Private) N.C. $2 million
TCNB Financial Corp (Details) Bank (Private) Ohio $2 million
Lafayette Bancorp (Details) Bank (Private) Miss. $2 million
Northwest Commercial Bank (Details) Bank (Private) Wash. $2 million
Fresno First Bank (Details) Bank (Private) Calif. $2 million
Hometown Bancshares (Details) Bank (Private) Ky. $1.9 million
Merchants and Planters Bancshares (Details) Bank (Private) Tenn. $1.9 million
Monadnock Bancorp (Details) Bank (Private) N.H. $1.8 million
Seacoast Commerce Bank (Details) Bank (Public) Calif. $1.8 million
American Premier Bancorp (Details) Bank (Private) Calif. $1.8 million
Community Bank of the Bay (Details) Bank (Private) Calif. $1.7 million
BCB Holding Company (Details) Bank (Private) Ala. $1.7 million
Maryland Financial Bank (Details) Bank (Private) Md. $1.7 million
Signature Bancshares (Details) Bank (Private) Texas $1.7 million
The State Bank of Bartley (Details) Bank (Private) Neb. $1.7 million
Hillsdale County National Bank (Details) Mortgage Servicer Mich. $1.7 million
Birmingham Bloomfield Bancshares (Details) Bank (Private) Mich. $1.6 million
Gold Canyon Bank (Details) Bank (Private) Ariz. $1.6 million
Hyperion Bank (Details) Bank (Private) Pa. $1.6 million
Saigon National (Details) Bank (Private) Calif. $1.5 million
Central Florida Educators Federal Credit Union (Details) Mortgage Servicer Fla. $1.5 million
Regional Bankshares (Details) Bank (Private) S.C. $1.5 million
Vision Bank - Texas (Details) Bank (Private) Texas $1.5 million
PFSB Bancorporation, Inc. (Details) Bank (Private) Wis. $1.5 million
Frontier Bancshares (Details) Bank (Private) Texas $1.4 million
Northern State Bank (Details) Bank (Private) N.J. $1.3 million
Indiana Bank Corp (Details) Bank (Private) Ind. $1.3 million
Fort Lee Federal Savings Bank (Details) Bank (Private) N.J. $1.3 million
First Keystone Bank (Details) Mortgage Servicer Pa. $1.3 million
First Advantage Bancshares Inc. (Details) Bank (Private) Minn. $1.2 million
DeSoto County Bank (Details) Bank (Private) Miss. $1.2 million
Riverside Bancshares, Inc. (Details) Bank (Private) Ark. $1.1 million
Harleysville Nation

[jaysunb]

10. WOW !

Who knew ??? :)

[HamdenRice]

11. It's sad isn't it? We operate on urban myths, not facts, and ...

the efforts to save these hundreds of small banks and credit unions has been pretty impressive.

There are hundreds more between the multi-billion range and the ten million range. I just didn't copy and paste.

Few people realize just how much since taking office, the Obama administration has largely saved the financial system.

[jpak]

7. ((((SShhhh - the bailouts cannot work - the economy must fail))))

((((Obama must fail)))))

(stop speading optimism)

(or you'll be flamed)

(and unrecced)

[jpak]

8. Drama Kick!

:kick:

[gratuitous]

9. It's a bit premature to say it's "worked"

Yes, Bank of America is working to pay back $45 billion, but they're issuing bonds to do so. That is, if the investment community thinks BofA is a good risk (along with a number of other factors), they'll lend them money to pay back the government. But BofA will still be far from recovery, and the financial sector is already whining about having to submit to greater regulatory scrutiny as a means of heading off another repeat of this fiasco.

In the meantime, the bad loans and investments that went into the making of what Atrios calls Big Shitpile aren't performing any better; it's that now instead of banks and lenders holding the bad paper, we do, and it's not clear exactly what we've bought for our TARP expenditures. And that won't be emerging in full view anytime soon, and probably not for several years.

[HamdenRice]

12. One thing to keep in mind about banks and bank accounting is how unforgiving it is

So the fact that there are so many "bad loans and investments" out there is, at this point, irrelevant. That's because they've already been written off completely to zero value for the most part -- even ones that are very valuable and that will perform, and that even have been performing. If other banks were too scared to buy them or accept them at collateral, even if they continued to pay interest and principal in a regular basis, they were marked down to zero value because they couldn't be sold.

In other words, my prediction is that you are going to see soaring bank profits even as the mortgage crisis worsens because bank accounting forced the banks to "write off" trillions in mortgages backed securities that will, in fact perform. Once other banks start accepting the performing mortgage backed securities at face value, that means assets with zero mark to market value skyrocketing in value even before the real estate market recovers.

[gratuitous]

14. In the olden days, that was true

But my understanding is that banks were under far less regulatory scrutiny during the last 10 years, and the packages of bad loans are almost beyond review at this point. Mortgages were written, sold, packaged with other loans and mortgages, re-sold, the packages pulled apart and re-formed, then sold again, in such manner that borrowers could be paying their loan back to an entity three or four times removed from the original underwriter. Witness some of the legal monkey-wrenching going on around the country, where defaulting borrowers have challenged the foreclosing entity to produce a valid note. In some cases, the paperwork has lagged badly or been lost completely in the shuffle, re-shuffle, deal and double deal.

The point being that for many of these investment packages, there was no regulation or oversight (by design, the argument being that capital had to be lightning quick and gumby flexible to respond to any momentary advantage that might manifest), and the steps can't be retraced. While banks can presumably write off bad debts, if they don't know they even hold a bad debt, the accounting becomes well nigh impossible. And the financial wizards who put these whiz-bang deals together have long since collected their percentage and gone on to new ventures.

[Greyhound]

13. Guaranteeing up to $15T or our dollars to prop up a fake economy built on air

has served to re-inflate the bubble that burst in the first place and they're doing exactly the same things they did the first time.

Meanwhile the real economy struggles to bear this burden in addition to the burden of paying to drag the false economy along with it.

[spanone]

15. whatever you do, don't tell the media, they LOVE trashing all things Obama

[jaysunb]

16. Interesting placement of the story.

As you can see, it's the lead story on the Business Page (although it WAS the lead story on the web site) you'd have thought news like this would be a front page story, seeing as how it's something everbody has a stake in.

:shrug:

[Blue_Tires]

18. there still should have been tighter conditions and regulations agreed to

before giving out the billions to ensure this doesn't happen again...some more transparency on the exact amounts given out and what it was spent on would help, too....

not using the once-in-a-lifetime leverage to set down some rules and discourage recklessness could very well be one of the biggest mistakes of this era...