List Of Cos Planning To Participate In U.S. Govt's TARP -13-
December 09 2008 - 12:45PM
Dow Jones News
Company: J.P. Morgan Chase & Co. (JPM)
Participation: The U.S. Treasury said it will inject $25 billion into J.P.
Morgan.
Date of disclosure: Oct. 29
Notes: n/a
Company: Merrill Lynch & Co. (MER)
Participation: The U.S. Treasury said it will inject $10 billion into
Merrill Lynch.
Date of disclosure: Oct. 29
Notes: n/a
Company: Morgan Stanley (MS)
Participation: The U.S. Treasury said it will inject $10 billion into
Morgan Stanley
Date of disclosure: Oct. 29
Notes: n/a
Company: Wells Fargo & Co. (WFC)
Participation: The U.S. Treasury said it will inject $25 billion into Wells
Fargo.
Date of disclosure: Oct. 29
Notes: Wells Fargo said separately that its Tier 1 capital ratio was 8.5%
at Sept. 30, before the injection of new capital.
Company: Fifth Third Bancorp (FITB)
Participation: Fifth Third received notification that the U.S. Treasury
would invest $3.45 billion in the bank's preferred shares and related
warrants.
Date of disclosure: Oct. 28
Notes: The current investment, on a pro forma basis, would have increased
the bank's Tier 1 capital ratio at Sept. 30 to about 11.5% from 8.5%,
total capital ratio to 15.3% from 12.3% and ratio of tangible
equity and tangible assets to 9.3% from 6.2%.
Company: Umpqua Holdings Corp. (UMPQ)
Participation: Umpqua received preliminary approval for an investment $214
million in preferred shares with warrants to buy about $32 million in
common stock.
Date of disclosure: Oct. 28
Notes: The investment will increase Umpqua's total risk-based capital ratio
to about 14% from 11.2% at Sept. 30.
Company: City National Corp. (CYN)
Participation: City National received preliminary approval for the Treasury
to invest about $395 million in the company's preferred stock and warrants.
Date of disclosure: Oct. 27
Notes: The investment will increase City National's Tier 1 capital ratio to
12% from 9.1%.
Company: Old National Bancorp (ONB)
Participation: Old National was notified by the U.S. Treasury that it would
be eligible, but the bank hasn't entered into an agreement.
Date of disclosure: Oct. 27
Notes: n/a
Company: Provident Bankshares Corp. (PBKS)
Participation: Provident was granted preliminary approval to participate.
Date of disclosure: Oct. 27
Notes: Participation is subject to execution of the program's required
procedures and approval by the company's board.
Company: First Horizon National Corp. (FHN)
Participation: First Horizon will receive about $866 million in capital.
Date of disclosure: Oct. 24
Notes: The investment will increase the company's Tier 1 capital ratio to
14.1% from 10.9%.
Company: PNC Financial Services Group Inc. (PNC)
Participation: PNC will sell $7.7 billion of preferred shares and warrants
to finance its stock-and-cash purchase of National City Corp. (NCC).
Date of disclosure: Oct. 24
Notes: n/a
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