List of Companies Planning to Participate in the US’s Government TARP

Ever wonder how many companies announced plans to participate in the US’s government TARP (Troubled Asset Relief Program)?

I did a little digging and as of November 18th, there were at least 25 companies either approved or planning to participate. Here’s an unordered list.

First Midwest Bancorp Inc. (FMBI) – Received preliminary approval for about $193 million worth of investment South Financial Group Inc. (TSFG) – Applied CoBiz Financial Inc. (COBZ) – Plans to apply E*Trade Financial Corp. (ETFC) – Applied for $800 million Associated Banc-Corp. (ASBC) – Preliminary approved for $530 million Capital Pacific Bancorp (CPBO) – Preliminary approved for $4 million Fulton Financial Corp. (FULT) – Filed an application for about $375 million. Trustmark Corp. (TRMK) – Preliminary approved and will issue $215 million in senior preferred shares and $32.3 million in common shares. Pacific Capital Bancorp (PCBC) – Preliminary approved for about $188 million Heritage Commerce Corp. (HTBK) – About $40 million was preliminary approved Banner Corp. (BANR) – $124 million was approved in senior preferred, $18 in common shares Columbia Banking System Inc. (COLB) – $76.9 million was preliminary approved Heritage Financial Corp. (HFWA) – $24 million in senior preferred, $3.6 in common stock. Bridge Bancorp (BDGE) – Considering participation Cascade Financial Corp. (CASB) – About $39 million Midwest Banc Holdings Inc. (MBHI) – About $85.5 million in preferred, $12.8 million of common stock. Goldman Sachs – part of the initial 9 banks that the government bought equity stakes into, along with the 8 below Morgan Stanley J. P. Morgan Chase & Co Bank of America Merrill Lynch Citigroup Inc. Wells Fargo & Co. Bank of New York Mellon State Street Corp

As I know, the TARP is a 5 year program that allows banks to borrow at 5%, an amazingly attractive rate given the circumstances. Do you have any relationships with these banks? Are you scared that so many already announced their desire to participate (and many more assumed to have applied but without any announcements yet)? Does it really matter to you?