List Of Cos Planning To Participate In U.S. Govt's TARP -7-
December 08 2008 - 12:45PM
Dow Jones News
Company: Trustmark Corp. (TRMK)
Participation: Trustmark completed the issuance and sale of $215 million in
preferred shares with a warrant to buy 1.65 million common shares at an
exercise price of $19.57 a share.
Date of disclosure: Nov. 21
Notes: Trustmark announced preliminary approval Nov. 6.
Company: Webster Financial Corp. (WBS)
Participation: Webster received $400 million and issued warrants for up to
3.28 million common shares at an initial exercise price of $18.28 each.
Date of disclosure: Nov. 21
Notes: The new capital increases Webster's Tier 1 leverage ratio to 11.1%
from 8.7% and its total risk-based capital ratio to 16.2% from 13.2%.
Company: First National Bancshares Inc. (FNSC)
Participation: First National received approval from its Series A preferred
shareholders to issue a new class of preferred stock to the U.S. Treasury.
Date of disclosure: Nov. 20
Notes: n/a
Company: GMAC Financial Services
Participation: GMAC applied to become a bank holding company and
participate in TARP, conditional upon becoming a bank holding company.
Date of disclosure: Nov. 20
Notes: Separately, GMAC commenced private exchange and cash tender offers.
Company: HopFed Bancorp Inc. (HFBC)
Participation: HopFed received preliminary approval and is eligible to
receive an investment of up to $18.4 million. HopFed has 30 days to decide
whether to participate.
Date of disclosure: Nov. 20
Notes: The new capital would raise HopFed's Heritage Bank's Tier 1 capital
ratio to about 9.1% from 7.25% and its total risk-based capital ratio to
about 13.7% from 10.8%.
Company: Indiana Community Bancorp (INCB)
Participation: Indiana Community received preliminary approval of its
application for $21.5 million.
Date of disclosure: Nov. 20
Notes: n/a
Company: International Bancshares Corp. (IBOC)
Participation: International received preliminary approval to sell $216
million in preferred shares and related warrants.
Date of disclosure: Nov. 20
Notes: On Oct. 27, the bank's board approved resolutions to amend bank
by-laws to allow issuing preferred shares and called for a special
shareholder meeting, scheduled for Dec. 19, to approve the move.
Company: LNB Bancorp Inc. (LNBB)
Participation: LNB received preliminary approval for a $25.2 million
investment.
Date of disclosure: Nov. 20
Notes: LNB expects the transaction to close by year's end.
Company: M&T Bank Corp. (MTB)
Participation: M&T received preliminary approval for its application to
issue $600 million of preferred shares.
Date of disclosure: Nov. 20
Notes: n/a
Company: Peapack-Gladstone Financial Corp. (PGC)
Participation: Peapack-Gladstone receieved preliminary approval to sell
$28.7 million of preferred shares and related warrants.
Date of disclosure: Nov. 20
Notes: Peapack-Gladstone must obtain shareholder approval to amend the
company's charter to authorize issuing preferred stock.
Company: Raymond James Financial Inc. (RJF)
Participation: Raymond James confirmed that it applied to participate.
Date of disclosure: Nov. 20
Notes: n/a
Company: Southwest Bancorp Inc. (OKSB)
Participation: Southwest Bancorp received preliminary approval to sell up
to $70 million in preferred shares and related warrants for the purchase of
$10.5 million of common stock.
Date of disclosure: Nov. 20
Notes: n/a
Company: Wainwright Bank & Trust Co. (WAIN)
Participation: Wainwright received preliminary approval for a $22 million
investment.
Date of disclosure: Nov. 20
Notes: The new capital will increase Wainwright's leverage capital ratio to
9.04% from 6.81%, its Tier 1 risk-based capital ratio to 12.07% from 9.1%
and its total risk-based capital ratio 13.79% from 10.82%.
Company: Wilshire Bancorp Inc. (WIBC)
Participation: Wilshire received preliminary approval for the U.S. Treasury
to invest about $62 million in senior preferred stock and related warrants.
Date of disclosure: Nov. 20
Notes: n/a
Company: Boston Private Financial Holdings Inc. (BPFH)
Participation: Boston Private received preliminary approval for an
investment of about $150 million.
Date of disclosure: Nov. 19
Notes: n/a
Company: CVB Financial Corp. (CVBF)
Participation: CVB received preliminary approval for up to $130 million.
Date of disclosure: Nov. 19
Notes: n/a
Company: Security Bank Corp. (SBKC)
Participation: Security Bank has applied and believes it may be eligible to
receive about $21.8 million to $65.5 million.
Date of disclosure: Nov. 19
Notes: Security Bank will hold a shareholders' meeting in the fourth
quarter to seek approval to amend its articles of incorporation to allow
for the issuance of preferred stock and to increase the number of
authorized common shares.
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