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.

1. First Midwest Bancorp Inc. (FMBI) - Received preliminary approval for about $193 million worth of investment
2. South Financial Group Inc. (TSFG) - Applied
3. CoBiz Financial Inc. (COBZ) - Plans to apply
4. E*Trade Financial Corp. (ETFC) - Applied for $800 million
5. Associated Banc-Corp. (ASBC) - Preliminary approved for $530 million
6. Capital Pacific Bancorp (CPBO) - Preliminary approved for $4 million
7. Fulton Financial Corp. (FULT) - Filed an application for about $375 million.
8. Trustmark Corp. (TRMK) - Preliminary approved and will issue $215 million in senior preferred shares and $32.3 million in common shares.
9. Pacific Capital Bancorp (PCBC) - Preliminary approved for about $188 million
10. Heritage Commerce Corp. (HTBK) - About $40 million was preliminary approved
11. Banner Corp. (BANR) - $124 million was approved in senior preferred, $18 in common shares
12. Columbia Banking System Inc. (COLB) - $76.9 million was preliminary approved
13. Heritage Financial Corp. (HFWA) - $24 million in senior preferred, $3.6 in common stock.
14. Bridge Bancorp (BDGE) - Considering participation
15. Cascade Financial Corp. (CASB) - About $39 million
16. Midwest Banc Holdings Inc. (MBHI) - About $85.5 million in preferred, $12.8 million of common stock.
17. Goldman Sachs - part of the initial 9 banks that the government bought equity stakes into, along with the 8 below
18. Morgan Stanley
19. J. P. Morgan Chase & Co
20. Bank of America
21. Merrill Lynch
22. Citigroup Inc.
23. Wells Fargo & Co.
24. Bank of New York Mellon
25. 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?

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