Tuesday, December 18, 2012

N.C. banks cut bailout money on their books in half

North Carolina banks have half as much federal bailout money on their books as they did at the beginning of the year -- but still have $212 million in investments from the financial crisis-era program, according to data from financial services firm Keefe, Bruyette and Woods.

Ten of the state's banks remain in the Troubled Asset Relief Program, which the U.S. Treasury has actively tried to wind down this year.

At the beginning of the year, 22 banks had $409 million left, KBW said at the time.

Since then, a number of N.C. banks have had their TARP investments auctioned off to private investors, including Yadkin Valley Financial and Bank of North Carolina.

North Carolina banks that still have TARP:

  • NewBridge Bancorp, Greensboro: $52 million
  • FNB United Corp., Asheboro: $52 million
  • Crescent Financial Corp., Cary: $25 million
  • ECB Bancorp Inc., Engelhard: $18 million
  • 1st FS Corporation, Hendersonville: $16 million
  • Carolina Bank Holdings Inc., Greensboro: $16 million
  • Bank of the Carolinas Corp., Mocksville: $13 million
  • Uwharrie Capital Corp., Albemarle: $10 million
  • Randolph Bank & Trust Co., Asheboro: $6 million
  • AB&T Financial Corp., Gastonia: $4 million