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The Treasury Department plans to auction stakes in eight more banks as it continues winding down the Troubled Asset Relief Program.
October 7 -
The Treasury Department will receive $91 million from its latest auction. The agency announced plans last week to auction nearly $118 million of securities from several small banks.
September 18
The Treasury Department plans to auction seven more lenders' Troubled Asset Relief Program shares, with a total face value of about $90 million.
The auction began Monday and will run through Thursday, the Treasury announced. It is the latest in a series of auctions designed to wind down the Tarp program, which has
The largest stake the Treasury plans to sell is its $38 million of preferred shares in Bridgeview Bancorp in Bridgeview, Ill., which were issued in December 2008. The second largest is a $16.2 million stake in Pacific City Financial in Los Angeles.
The Treasury also expects to sell its $14.7 million stake in Village Bank and Trust Financial in Midlothian, Va.; its $8.7 million stake in United American Bank in San Mateo, Calif.; its $5.2 million stake in Midtown Bank & Trust in Atlanta; its $3.5 million stake in AB&T Financial in Gastonia, N.C.; and its $3.4 million stake in Madison Financial in Richmond, Ky.
In its most recent auction, held in October, the Treasury
