Grand Mountain Bank in Granby, Colo., finally has the Troubled Asset Relief Program off its back.

The $102 million-asset bank said in a press release last week that it raised $7.1 million by issuing stock and debt. As part of the recapitalization, underwritten by FIG Partners, Grand Mountain retired all of the $3.9 million in Tarp debt that had been on its books for more than eight years.

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