Six Banks Repay $626 Million In TARP Funds

The U.S. Treasury Department announced six financial firms repaid funds they received in the government's Wall Street bailout, delivering $626 million to taxpayers.

Through the Troubled Asset Relef Program, created in 2008, Treasury provided capital to banks and other financial companies sent reeling by the financial crisis.

As the economy recovers, companies that took TARP money have been making repayments and delivering accrued dividends.

Treasury disbursed $389 billion in TARP money. On Wednesday it said repayments along with investment income, including dividends and interest, total $270 billion.

The $626 million figure includes repayments and dividends. On Wednesday, Treasury said East West Bancorp of Pasadena, Calif. repurchased $306.5 million in TARP investments and paid $1.9 million in dividends.

Webster Financial Corp. of Waterbury, Conn. repurchased $200 million in TARP investments and paid $1.2 million in dividends.

1st Source Corproation of South Bend, Ind. repurchased $111 million and paid $678,333 million in dividends.

Surrey Bancorp of Mount Airy, N.C., repurchased a total of $2.1 million in preferred shares and paid $13,322 in dividends.

Nationwide Bankshares of West Point, Neb. repurchased a total of $2.1 million in preferred shares and paid $20,509 in dividends.

Haviland Bancshares, Inc. of Haviland, Kan., repurchased $446,000 and paid $2828 in dividends.

-By Ryan Tracy, Dow Jones Newswires; 202-862-9245; [e-mail]