Six banks repay bailouts worth $2.66 billion - KMOV.com

Six banks repay bailouts worth $2.66 billion

 

   WASHINGTON (AP) -- The Treasury Department says six banks have repaid government bailouts worth a combined $2.66 billion.
  
The banks are returning taxpayer money that they received in the aftermath of the 2008 financial crisis.
  
The banks that repaid their bailouts on Wednesday are Huntington Bancshares, First Horizon National Corp., Wintrust Financial Corp., Susquehanna Bancshares Inc., Heritage Financial Corp. and The Bank of Kentucky Financial Corp.
  
Treasury requires banks wishing to repay their bailouts to raise money from private investors first. That shows that the banks are strong enough to stand on their own.
  
The banks also paid the government a total of $13.7 million in dividends that they owed in exchange for the loans.
   (Copyright 2010 by The Associated Press. All Rights Reserved.)

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