Yow! Number of Banks Not Making TARP Payments Skyrockets!

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The number of banks that didn’t make their monthly dividend payments on TARP funds skyrocketed to 29 in August, up from 18 in May. Banks can choose not to make payments during a given month, allowing the dividends owed to accumulate unpaid.

Failure to pay may be a sign of financial distress. Obviously banks that are short of capital may decide to retain funds rather than pay off the TARP.

Here’s the complete list of banks that didn’t pay in August:

AIG

Anchor Bancorp Wisconsin

Central Pacific Financial Corp

Centrue Financial Corp

Citizens Bancorp

Citizens Bank & Trust Co

Commerce National Bank

Commonwealth Business Bank

Dickinson Financial Corp

First American International

First Banks

Georgia Primary Bank

Grand Mountain Bancshares

Idaho Bancorp

Lone Star Bank

Midwest Banc Holdings

One Georgia Bank

One United Bank

Pacific Capital Bancorp

Pacific City Financial Corp

Pacific International Bancorp

Patterson Bancshares Inc.

Peninsula Bank Holdings Co.

Premier Service Bank

Royal Bancshares Corporation of Pennsylvania

Seacoast Banking Corporation of Florida

Sterling Financial Corporation

UCBH Holdings Inc.

United American Bank

 

 

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