Yesterday, Treasury released its most current transactions report for the period ended September 24, 2010. The report reflects the previously announced auction of $4.3 billion of warrants of the Hartford Financial Services Group, Inc., garnering $713,687,430 for Treasury, as well as an agreement with North American Financial Holdings, Inc. for the sale of all preferred stock and warrants issued by TIB Financial Corp. to Treasury at an aggregate purchase price of $12.12 million for the preferred stock and $40,000 for the warrants.
The CDCI has seen a tremendous increase in participation and funding this month; 23 institutions (21 of them credit unions) were added this past week for a total of 43 participants and $258,323,000 invested. Liberty Financial Services, Inc. exchanged $5,645,000 of Capital Purchase Program (CPP) preferred stock for an equivalent investment under the Community Development Capital Initiative (CDCI), plus an additional $5,689,000 CDCI investment from Treasury. First Choice Bank exchanged $5,036,000 of CPP preferred stock and $110,000 of warrants for a $5,146,000 investment under the CDCI. There is now $55,039,983,785 (net of repayments) invested in the CPP.
Treasury made additional investments in nine out of ten of the Hardest Hit Fund agencies, as well as adding nine more, for a total of 19 states now participating. There is $4.1 billion invested under the program.