On Tuesday, Treasury released its most recent transactions report for the period ending July 30, 2010. The report shows Bar Harbor Bankshares, which previously repaid $18,751,000 in preferred stock, repurchased Treasury's warrants for $250,000. Treasury also announced its entry into an agreement with Pacific Capital Bancorp to exchange Treasury’s $180,634,000 of preferred stock for an equivalent amount of mandatorily convertible preferred stock, plus a capitalized amount equal to accrued and unpaid dividends as of the date of closing, with closing subject to certain closing conditions.
University Financial Corp, Inc. and Guaranty Capital Corporation exchanged a total of $25,926,000 in subordinated debentures under the Capital Purchase Program for equal investments under the Community Development Capital Initiative. There is $36,115,000 invested under the CDCI (Treasury made an additional $10,189,000 investment in University Financial at the time it entered the CDCI program), and Treasury's total aggregate investment under the Capital Purchase Program , net of repayments, is now $55,271,852,785.
The report also shows two more classes of funds in the Small Business and Community Lending Initiative; there is now $226,684,769 invested under the program.