Treasury sells holdings in four banks

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The Treasury successfully divested itself of holdings in BNC Bancorp of High Point, N.C., First Community Corporation of Lexington, S.C., First National Corporation of Strasburg, Va., and Mackinac Financial Corporation of Manistique, Mich.

The bank portion of TARP has turned a profit for the federal government, and the Treasury estimated Friday it has now recovered $21 billion more from banks than originally invested.

However, the overall program is still expected to be a cost to taxpayers — the Congressional Budget Office estimated in March that it will ultimately cost $32 billion, driven largely by expected costs tied to housing relief programs that were never intended to yield payments back to the government.