Atlanta Bank First in Georgia to Pay Back TARP
Press release from the issuing company
Friday, February 18th, 2011
An Atlanta community bank this week became the first in the state to repay Uncle Sam for aid it received during the depths of the financial crisis.
The parent company of Georgia Commerce Bank on Wednesday repurchased $9.1 million in preferred shares and warrants held by the federal government's Troubled Asset Relief Program.
The announcement is a jolt of good news for a beleaguered state banking industry better known the past few years for leading the nation in bank failures.
