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Once thought of as cheap capital, Tarp is getting more expensive as the dividend rate jumps from 5% to 9%. Banks that are still in the program could see the increase as one more force pushing them to consider their options.
March 17 -
Farmers Capital Bank in Frankfort, Ky., said a change in the rules governing allotments by active-duty service members will shave more than $800,000 off its bottom line next year.
December 16 -
Farmers Capital Bank in Versailles, Ky., has been freed from a regulatory order.
March 4
Farmers Capital Bank in Frankfort, Ky., has completed the redemption of its Troubled Asset Relief program preferred shares for about $10.1 million.
The $1.8 billion-asset company initially issued 30,000 shares of Series A preferred stock in 2009, as part of Tarp.
Farmers Capital has now redeemed those shares in three separate transactions of 10,000 shares.
In the final transaction, the redemption amount was equal to the stated liquidation value of $1,000 per share, plus $58,000 in accrued dividends. Farmers Capital's preferred shares were
