6 banks repay bailouts worth $2.66 billion

SymbolPriceChangeBKYF20.00+1.00Chart for The Bank of Kentucky Financial FHN11.75+0.47Chart for First Horizon National CorporatHFWA13.68+0.04Chart for Heritage Financial CorporationSUSQ10.11+0.60Chart for Susquehanna Bancshares, Inc.WTFC33.59+1.18Chart for Wintrust Financial Corporation{“s” : “bkyf,fhn,hfwa,susq,wtfc”,”k” : “a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00″,”o” : “”,”j” : “”}

WASHINGTON (AP) — Six banks have repaid government bailouts worth a combined $2.66 billion, the Treasury department said Wednesday.

The banks are returning taxpayer money that they received in the aftermath of the 2008 financial crisis.

Huntington Bancshares, First Horizon National Corp., Wintrust Financial Corp., Susquehanna Bancshares Inc., Heritage Financial Corp. and The Bank of Kentucky Financial Corp. all paid back the money they owed.

Treasury requires banks wishing to repay their bailouts to raise money from private investors first. That shows that the banks are strong enough to stand on their own.

The banks also paid the government a total of $13.7 million in dividends that they owed in exchange for the loans.

Banks and financial institutions still owe the Treasury about $155 billion in bailout money. The government disbursed a total of $389 billion. Including today’s repayments, private companies have returned a total of $234 billion.

GD Star Rating
Posted in Finance and tagged , , , , , .

Leave a Reply

Your email address will not be published. Required fields are marked *