Wall Street has been abuzz over the ten largest banks that have been approved to return funds from the Troubled Asset Relief Program (TARP) to the
1. New York Community Bancorp – The largest
2. BOK Financial (#39) – The Oklahoma-based multibank holding company determined it was sufficiently capitalized – and could rely on alternate sources of funding if the need arises.
3. TCF Financial (#41) – One of the first banks to return TARP funds, it repaid the $361 million it received in April.
4. Commerce Bancshares (#42) – Most active in
5. First Citizens BancShares (#45) – The North Carolina-based company, majority owned by CEO Frank Holding and his family, did not apply for TARP funds.
6. City National (#46) – The California bank received $400 million, but intends to use proceeds from a May stock offering to repurchase preferred shares it sold to the government under the program.