The number of banks and thrifts deferring dividends on preferred stock from the Troubled Asset Relief Program rose last month, according to a report.
SNL Financial in Charlottesville, Va., found that 142 banks and thrifts missed a Feb. 15 quarterly payment to the Treasury Department, compared with 123 in November.
Companies that have deferred hold about $3.7 billion in Tarp funds, or less than 1.8% of the capital invested at the program's height.
The report said that 32 banks had missed six or more payments, compared with 13 in November. Six banks had missed eight payments and Saigon National Bank in Westminster, Calif., had missed all nine dividends, the report said.
