Five Georgia Banks Behind on TARP
Press release from the issuing company
Wednesday, September 15th, 2010
The taxpayers’ investment in Georgia banks has by and large been a good one, but last quarter a handful of small community banks did not cut a quarterly check to repay the Treasury Department’s bank bailout program.
Five Georgia banks in August were listed as having missed at least one quarterly Capital Purchase Program dividend payment, up from three banks a quarter ago, according to a report by the U.S. Department of the Treasury.
The late interest payments amount to only $1,054,186. It’s a relatively puny number. In total, Georgia banks have paid about $493 million over the past two years.
