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Susquehanna (Bank) repays remainder of TARP funds

by thiryj

CPBJ Reports: Susquehanna Bancshares Inc. said today it repaid the last $100 million of the $300 million it received under the Troubled Asset Relief Program.The repayment will save Susquehanna $5.5 million in annual dividend payments to the U.S. Treasury and related costs, Susquehanna Chairman and CEO William Reuter said in a statement.Susquehanna received $300 million in TARP funding from the U.S. Treasury in December 2008 and repaid $200 million in April this year. It held off on repaying the remaining $100 million until its credit metrics improved and the economic recovery took firmer hold, Reuter said.The Lititz-based parent of Susquehanna Bank paid the Treasury more than $23.7 million in dividend payments due to TARP.

via Susquehanna repays remainder of TARP funds.