Business Bancshares in St. Louis has exited the Troubled Asset Relief Program.
It paid $7.25 million on April 24 to complete the redemption of the preferred shares and warrants it had issued to the Treasury Department. It received $15 million through the Tarp in April 2009, and paid a total of $18.7 million, in three payments, to redeem its shares and warrants and pay outstanding dividends.
The $513 million-asset Business Bancshares is the parent of the Business Bank of St. Louis, which had a leverage ratio of 11.53% and total risk-based capital of 14.39% as of Dec. 31, according to the Federal Deposit Insurance Corp.
