Thursday, April 2, 2009
The Obama administration says five banks have repaid millions of dollars they received from the government's $700 billion financial bailout pot.
The Treasury Department, which oversees the bailout program, says the five banks returned a total of $353 million.
The banks are: Iberiabank Corp. of Lafayette, La.; Bank of Marin Bancorp of Novato, Calif.; Old National Bancorp. of Evansville, Ind.; Signature Bank of New York; and Centra Financial Holdings Inc. of Morgantown, W.Va.
They were the first banks to repay the government, wanting to escape the increasingly tough restrictions placed on participants in the rescue program.