The Treasury Department has exited its largest investment from the Troubled Asset Relief Program.

Seal of the Department of the Treasury

The agency said in a press release Wednesday that it sold nearly 10.3 million shares in First BanCorp in San Juan, Puerto Rico, for $57.7 million, or $5.61 a share. The Treasury did not disclose the buyers.

The Treasury said it has recovered roughly $232 million from its investment in the $11.9 billion-asset company.

With the sale, OneFinancial in Little Rock, Ark., is the largest remaining Tarp participant. The Treasury recently bought a majority stake in OneFinancial’s bank to resolve a judgment against the institution; it is widely believed that the agency will auction those shares to investors or another bank in the near future.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.