The Treasury Department expects to receive $20.6 million in proceeds from its latest auction of Troubled Asset Relief Program shares.
The auction is expected to close by Feb. 10, according to the Treasury's Friday press release.
The largest stake on the block is $13.2 million worth of preferred stock from Community First Bancshares in Harrison, Ark. The next-largest are a $2.7 million stake in Pacific Commerce Bank in Los Angeles and a $2.4 million stake in Atlantic Bancshares (ATBA) in Bluffton, S.C.
The Treasury will also auction shares in AB&T Financial Corp. (ABTO) in Gastonia, N.C.; Centrue Financial Corp. (TRUE) in Ottawa, Ill.; and Georgia Primary Bank in Atlanta.
"This auction brings Treasury one step closer to the end of TARP's bank programs," Acting Assistant Secretary for Financial Stability Timothy Bowler said in the release. "Treasury will continue its steady progress winding down the bank programs that helped stabilize the economy during the financial crisis and earned significant returns for taxpayers."
The Treasury invested an initial $245 billion in Tarp bank programs. It has since recovered more than $273 billion, including the expected proceeds from the latest auction. Proceeds from preferred stock auctions make up less than 1% ($3 billion) of that sum.