{"id":191796,"date":"2009-06-23T17:26:00","date_gmt":"2009-06-23T22:26:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/06\/23\/three-banks-halt-tarp-dividend-payments\/"},"modified":"2009-06-23T17:26:00","modified_gmt":"2009-06-23T22:26:00","slug":"three-banks-halt-tarp-dividend-payments","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/06\/23\/three-banks-halt-tarp-dividend-payments\/","title":{"rendered":"Three Banks Halt TARP Dividend Payments"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/img269.imageshack.us\/img269\/6978\/benthermo5155825.jpg\" style=\"margin: 0px 0px 10px 10px; float: right; cursor: pointer;\" \/>They don&#8217;t have the cash to make dividend payments, so they <a href=\"http:\/\/www.propublica.org\/ion\/bailout\/item\/some-banks-in-healthy-bank-bailout-program-struggle-623\">are no longer making payments<\/a>, though, under the terms of the TARP <a href=\"http:\/\/www.reuters.com\/article\/bondsNews\/idUSBNG35743120090622\">they have 20 quarters<\/a>, or 5 years (!) to defer interest payments without technically being in default.<\/p>\n<p>The banks in question are Pacific Capital Bancorp, Seacoast Banking Corp, and Midwest Banc Holdings.<\/p>\n<p>According to a GAO report, there are 17 banks that did not pay dividends in May, but they did not list names, so there is no knowing who the other 14 institutions are.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>They don&#8217;t have the cash to make dividend payments, so they are no longer making payments, though, under the terms of the TARP they have 20 quarters, or 5 years (!) to defer interest payments without technically being in default. The banks in question are Pacific Capital Bancorp, Seacoast Banking Corp, and Midwest Banc Holdings. &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1004,985],"tags":[],"class_list":["post-191796","post","type-post","status-publish","format-standard","hentry","category-finance","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191796"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=191796"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191796\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=191796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=191796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=191796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}