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Lake Sunapee Bank Group in Newport, N.H., has exited the Small Business Lending Fund.
December 4 -
AmeriServ Financial in Johnstown, Pa., and Provident Bancorp in Amesbury, Mass., are the latest community banks to announce plans to exit the Small Business Lending Fund.
January 4 -
Three banks have redeemed shares of preferred stock to make their exits from the Small Business Lending Fund.
December 18
Northway Bank in Berlin, N.H., has exited the Small Business Lending Fund.
The $939 million-asset bank paid about $24 million to redeem 23,593 outstanding shares, according to a news release Tuesday. Those shares were all of Northway's outstanding preferred stock in the fund.
Northway used the SBLF to expand its small-business loans by $44 million, the bank said in the release.
It initially issued the SBLF shares to the Treasury Department in September 2011. Northway is the latest bank to exit the SBLF program as low interest rates
