U.S. Department of the Treasury

(Archived Content)

• East West Bancorp (Pasadena, CA): Repurchased all outstanding CPP preferred shares from Treasury’s original investment in the institution totaling $306.5 million and paid accrued dividends totaling $1.9 million (Total Proceeds Today for Taxpayers: $308.4 million)
• Webster Financial Corporation (Waterbury, CT): Repurchased all remaining outstanding CPP preferred shares from Treasury’s original investment in the institution totaling $200.0 million and paid accrued dividends totaling $1.2 million (Total Proceeds Today for Taxpayers: $201.2 million) Note: Treasury’s full original CPP preferred share investment in Webster Financial Corporation had totaled $400 million. Webster Financial Corporation previously repurchased preferred shares totaling $100 million in March 2010 and $100 million in October 2010.
• 1^st Source Corporation (South Bend, IN): Repurchased all outstanding CPP preferred shares from Treasury’s original investment in the institution totaling $111.0 million and paid accrued dividends totaling $678,333. (Total Proceeds Today for Taxpayers: $111.7 million)
• Surrey Bancorp (Mount Airy, NC): Repurchased all outstanding CPP preferred shares from Treasury’s original investment in the institution totaling $2.0 million and paid accrued dividends totaling $12,222. Surrey Bancorp also repurchased additional preferred shares that Treasury obtained from exercising warrants totaling $100,000 and paid accrued dividends on those additional preferred shares totaling $1,100. (Total Proceeds Today for Taxpayers: $2.1 million)
• Nationwide Bankshares (West Point, NE): Repurchased all outstanding CPP subordinated debentures from Treasury’s original investment in the institution totaling $2.0 million and paid accrued interest totaling $18,822. Nationwide Bankshares also repurchased additional subordinated debentures that Treasury obtained from exercising warrants totaling $100,000 and paid accrued dividends on those additional subordinated debentures totaling $1,687. (Total Proceeds Today for Taxpayers: $2.1 million)
• Haviland Bancshares, Inc. (Haviland, KS): Repurchased all outstanding CPP preferred shares from Treasury’s original investment in the institution totaling $425,000 and paid accrued dividends totaling $2,597. Haviland Bancshares, Inc. also repurchased additional preferred shares that Treasury obtained from exercising warrants totaling $21,000 and paid accrued dividends on those additional preferred shares totaling $231. (Total Proceeds Today for Taxpayers: $448,828)