Troubled Assets Relief Program

Monthly 105(a) Report – December 2009

January 11, 2010

This report to Congress is pursuant to Section 105(a)

of the Emergency Economic Stabilization Act of 2008.
Treasury is pleased to present the monthly 105(a) report to Congress for December 2009. This 

report provides the latest developments on efforts to stabilize the financial system, current 

status of TARP investments, and background information on all TARP programs. 

Section Page

Key Developments 2 

Extension of TARP Authority 3 

Financial Report for Fiscal Year 2009 3 

Where is TARP Money Going? 5 

Program Updates 8 

Certification 21 

Appendix 1: Descriptions of TARP Programs 24 

 

How Treasury Exercises its Voting Rights 35 

Appendix 2: December Financial Statement 37 

This report contains summaries of TARP programs and investments. These summaries do not 

include all the material terms and conditions of such programs and investments. Please see 

more detailed information available at www.FinancialStability.gov. 

 
Monthly 105(a) Report December 2009

Key Developments 

The Troubled Assets Relief Program or TARP was established by Treasury pursuant to the 

Emergency Economic Stabilization Act of 2008 or EESA. This law was adopted on October 3, 

2008 in response to the severe financial crisis facing our country. To carry out its duties under 

the law, Treasury developed a number of programs under TARP to stabilize our financial 

system and the housing market, which, together with the American Recovery and Reinvestment 

Act, have laid the financial foundation for economic recovery. The TARP programs are 

described in this report. 

The following key developments took place in December 2009 under TARP programs: 

• Treasury released the Office of Financial Stability (OFS) Agency Financial Report for Fiscal 

Year 2009 with a description of the activities and financial results for the fiscal year ended 

September 30, 2009 – the start up period for the agency’s unprecedented emergency 

mission to stabilize the nation’s financial system. The Government Accountability Office 

rendered unqualified (“clean”) audit opinions on the OFS financial statements and OFS 

internal control of financial reporting, and found that OFS maintained effective internal 

control over financial reporting with no material weaknesses. 

• The Secretary of the Treasury certified the extension of TARP authority until October 3, 

2010 with an exit strategy that balances the capacity to respond to threats to the financial 

system that could undermine economic recovery with the need to exercise fiscal discipline 

and reduce the burden on taxpayers, that focuses on winding down many programs, and 

that limits new TARP commitments in 2010 to foreclosure mitigation, stabilization of the 

housing market, and provision of capital to small and community banks as a source of credit 

for businesses. 

• 12 banks repaid $50.85 billion of Treasury’s investments under the Capital Purchase 

Program (CPP). In addition, Bank of America redeemed $20 billion of preferred stock, and 

Citigroup repurchased $20 billion of trust preferred securities, ending the Targeted 

Investment Program, bringing the total amount of TARP repayments to $165 billion in 2009, 

or two-thirds of total TARP investments in banks. 

• Treasury, the Federal Deposit Insurance Corporation, the Federal Reserve Bank of New 

York and Citigroup agreed to terminate the loss-sharing agreement with Citigroup that 

covered a pool of originally $301 billion in assets. No losses were incurred under the 

program, and Treasury and the FDIC retain $5.2 billion of trust preferred securities of 

Citigroup, as well as warrants, representing a positive return to taxpayers. 

• Treasury commenced public auctions of warrants issued by CPP participants and raised a 

total of approximately $1.1 billion. The warrants sold were issued by Capital One Financial 

Corporation, JPMorgan Chase & Co. and TCF Financial Corporation. 

• Treasury received $890.81 million in dividend and interest payments from all TARP 

Programs, including the first quarterly $1 billion principal repayment from General Motors. 

Total dividends, interest and fee payments received through December 2009 are 

approximately $12.89 billion. 

• Treasury made final CPP investments in 37 small banks totaling $180.14 million. 

2
Monthly 105(a) Report December 2009

• Treasury completed an additional capital investment of $3.8 billion in GMAC and converted 

a portion of Treasury’s existing investment to common stock and mandatorily convertible 

preferred stock. 

Extension of TARP Authority 

On December 9, 2009, pursuant to Section 120(b) of EESA, the Secretary of the Treasury 

certified the extension of TARP authority until October 3, 2010. The certification laid out an exit 

strategy that balances the capacity to respond to threats to the financial system that could 

undermine economic recovery with the need to exercise financial discipline and reduce the 

burden on taxpayers. 

The Secretary of the Treasury identified four elements for the TARP exit strategy: 

• Terminate and wind-down many of the government programs put in place in the fall of 2008; 

• Limit new TARP commitments in 2010 to foreclosure mitigation and stabilization of the 

housing market, to provide capital to small and community banks as a source of credit for 

businesses, and to the Term Asset-Backed Securities Loan Facility (TALF), which aids 

securitization markets for consumer, small business and commercial mortgage loans; 

• Restrict the use of EESA funds to existing commitments unless it is necessary to respond to 

an immediate and substantial threat to the economy stemming from financial instability; and 

• Protect taxpayers while managing investments acquired through EESA. 

Although TARP authority has been extended, it is expected that the total commitments under 

the programs will not exceed $550 billion of the $700 billion authorized. 

A copy of the letter can be found at http://www.FinancialStability.gov/latest/pr_12092009.html 

Financial Report for Fiscal Year 2009 

In December, Treasury released the Office of Financial Stability (OFS) Agency Financial Report 

for Fiscal Year 2009 (Financial Report FY 2009), which describes the activities and financial 

results for the Troubled Asset Relief Program since its inception in October 2008 through the 

fiscal year ended September 30, 2009 (FY2009). 

The Government Accountability Office (GAO) audited the FY 2009 financial statements 

prepared by OFS for the TARP and stated that the financial statements are presented fairly, in 

all material respects, in conformity with U.S. generally accepted accounting principles. The GAO 

also opined that the OFS maintained, in all material respects, effective internal control over 

financial reporting and found no material weaknesses in OFS internal controls. 

The Report shows that though the ultimate cost of TARP will not be known for some time, 

Treasury estimates lower projected costs and higher projected returns for the TARP than 

previously estimated in the summer. OFS is unlikely to disburse the full $700 billion authorized 

under EESA, and many of the TARP investments under the program, particularly those aimed at 

3
Monthly 105(a) Report December 2009

stabilizing banks, are expected to deliver returns for taxpayers. The combination of lower 

spending and higher expected returns resulted in a lower projected cost of TARP from the $341 

billion estimate in the President’s Mid-session Budget in August 2009. 

During FY 2009, OFS disbursed $364 billion of TARP funds and $73 billion was repaid. In 

addition, for FY 2009, TARP investments generated $12.7 billion in cash received through 

interest, dividends, and the proceeds from the sale of warrants. Four TARP programs reported 

net income in FY 2009: the Capital Purchase Program, the Targeted Investment Program, the 

Asset Guarantee Program, and the Consumer and Business Lending Initiative 

Net income in FY 2009 was offset by reported net cost of the investments in AIG and the 

automotive companies, bringing the net cost for these programs during FY2009 to 

approximately $41.4 billion. For TARP disbursements in FY 2009, OFS reported net cost of 

operations of approximately $41.6 billion including administrative expenses. The reported net 

cost of operations includes the estimated net cost related to loans, equity investments, and 

asset guarantees. 

The Financial Report FY 2009 consists of Part I - Management’s Discussion and Analysis 

(MD&A) and Part II – Financial Reporting, and includes an explanation of the background and 

application of the budgetary, credit reform (subsidy cost) and market risk accounting concepts to 

the preparation of the financial statements. 

Figure 1 (Table 5 in Section 2 of the MD&A), shows the estimated value of TARP investments 

by program as of September 30, 2009 and Figure 2 (Table 7 in Section 2 of the MD&A) shows 

the estimated change in net cost for TARP programs as of September 30, 2009. 

Figure 1: Estimated Value of TARP Investments as of September 30, 2009 

($ in billions) 

4

Outstanding 

Balance1

Estimated Value 

of Investment 

Capital Purchase Program $ 133.9 $ 141.7

Targeted Investment Program $ 40.0 $ 40.3

AIG Investment Program $ 43.2 $ 13.2

Auto Industry Financing Program $ 73.8 $ 42.3

Term Asset-Backed Securities Loan Facility $ 0.1 $ 0.4

 Total $ 291.0 $ 237.9

1/ Before subsidy cost allowance. (Please refer to Financial Report FY 2009 for further information.)
Monthly 105(a) Report December 2009

Figure 2: Estimated Change in Net Cost for TARP Programs as of September 30, 2009 

 ($ in billions) 

Original 

Estimate1

Current 

Estimate Net Change

Capital Purchase Program -57.4 +15.0 +72.4

Targeted Investment Program -19.6 +1.9 +21.5

Asset Guarantee Program +1.0 +2.2 +1.2

AIG Investment Program -31.5 -30.4 +1.1

Auto Industry Financing Program -43.7 -30.4 +13.3

Term Asset-Backed Securities Loan Facility +0.1 +0.3 +0.2

 Subtotal -151.1 -41.4 +109.7

Home Affordable Modification Program -27.1 -27.1 0.0

 Total -178.2 -68.5 +109.7

1/ Original estimates completed on or near the initiation of each program and adjusted for modifications. Amounts 

shown in both original and current estimates are based on total program disbursements through FY 2009.

A copy of the Financial Report FY 2009, which includes the GAO Report on FY 2009 Financial 

Statements, can be found at http://www.FinancialStability.gov/latest/tg_12092009.html

Where is TARP Money Going? 

EESA authorized $700 billion for Treasury investments under TARP1

. Treasury has used this 

authority to make investments that are designed to restore confidence in the strength of our 

financial institutions, restart markets that are critical to financing American households and 

businesses, and address the foreclosures in the housing market. 

Treasury plans the following uses of TARP funds: 

• Approximately $545 billion has been planned for particular TARP programs as of 

January 6, 2010, as shown in Figure 3. 

– Of that amount, $483.40 billion has been committed to specific institutions under 

signed contracts. 

– $374.62 billion has been paid out by Treasury under those contracts. 

Figure 3 shows the planned TARP investments by program as of January 6, 2010. Figure 4 

shows the planned TARP investment amounts together with the total funds disbursed and 

investments that have been repaid by program as of January 6, 2010. Please see Appendix 1 

for a description of the programs listed in the chart, and page 9 for the update on the Asset 

Guarantee and Capital Purchase Programs. 

                                                           

1

 TARP funds for the Home Affordable Modification Program (HAMP) include $1.244 billion to offset costs 

of program changes for the “Helping Families Save Their Homes Act of 2009”, and $15 million for 

administrative expenditures relating to the Special Inspector General for the Troubled Asset Relief 

Program (SIGTARP). 

 

5
Monthly 105(a) Report December 2009

Figure 3: Planned TARP investments ($ billions) as of January 6, 2010 

6

$205 

$85 

$70 

$60 

$50 

$40 

$30 

$5 

Capital Purchase Program

Auto Industry Financing Program

AIG

Consumer and Business Lending Initiative

Home Affordable Modification Program

Targeted Investment Program

Legacy Securities Public-Private Investment Program

Asset Guarantee Program

Figure 4: TARP investment amounts, total funds disbursed, and investment repayments, 

by program as of January 6, 2010 ($ in billions) 

Purchase Price or 

Guarantee Amounts

Total $ 

Disbursed

Investment 

Repayments

Capital Purchase Program (CPP) $ 205.00 $ 204.89 $ 121.89

Targeted Investment Program (TIP) $ 40.00 $ 40.00 $ 40.00

Asset Guarantee Program (AGP) $ 5.00 $ - $ -

Consumer and Business Lending Initiative (CBLI) $ 60.00 $ 0.10 $ -

Legacy Securities Public-Private Investment Program (PPIP) $ 30.00 $ 3.31 $ -

AIG $ 70.00 $ 45.34 $ -

Auto Industry Financing Program (AIFP) $ 85.00 $ 79.69 $ 3.30

Home Affordable Modification Program (HAMP) $ 50.00 $ 1.27 $ -

 Totals $ 545.00 $ 374.62 $ 165.18

A large part of the total investments to date occurred last fall under the Capital Purchase 

Program following the adoption of EESA in October 2008. The commitments made in 2009 

include amounts extended under the Obama Administration’s Financial Stability Plan. These 

include funds committed under the Home Affordable Modification Program, the investments in 

the Legacy Securities Public-Private Investment Program, and those under the other programs 

described in this report. 

Figures 5 and 6 show the amount of TARP investments by month. They show both the amount 

obligated – or committed for investment – and the amount disbursed or actually paid out, over 

specific time periods. 
Monthly 105(a) Report December 2009

Figure 5: Funds committed and paid out under TARP from October 2008 through 

September 2009 

$0

$50

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$550

$0

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Amount Committed to Specific Institutions Each Month (Left Scale)

Amount Paid Out in Each Month

Cumulative Amount Committed to Specific Institutions (Right Scale)

Cumulative Amount Paid Out (Right Scale)

$Blns

Figure 6: Funds committed and paid out under TARP from October 2009 through 

December 2009 

7

$0

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Oct-09 Nov-09 Dec-09

Amount Committed to Specific Institutions Each Month (Left Scale)

Amount Paid Out in Each Month

Cumulative Amount Committed to Specific Institutions (Right Scale)

Cumulative Amount Paid Out (Right Scale)

$Blns
Monthly 105(a) Report December 2009

Taxpayers can track progress on all of the financial stability programs and investments, as well 

as repayments, on Treasury’s website www.FinancialStability.gov. Specifically, taxpayers can 

look at investments within two business days of closing in the TARP transaction reports at 

www.FinancialStability.gov/latest/reportsanddocs.html

Program Updates 

Dividends and Interest Received 

Most of the TARP money has been used to make investments in preferred stock or loans. 

Treasury receives dividend or interest payments on these investments from the institutions 

participating in TARP programs. These payments are a return on Treasury’s TARP investments. 

• In December, Treasury received $890.81 million in dividend, interest and fees from 

TARP investments. 

• Treasury has received a total of approximately $12.89 billion in dividends, interest and 

fees through December 2009. 

Figure 7 shows the allocation of dividends, interest and fees received since inception of TARP 

by program through December 31, 2009. 

Figure 7: Dividends, interest and fees received by TARP Program through December 

23%

10%

2%

0.01%

65%

Targeted Investment Program

Automotive Industry Finance Program 

and Auto Supplier Support Program

Asset Guarantee Program

Public-Private Investment Program

Capital Purchase Program

Treasury’s Dividends and Interest Reports for TARP programs are available at 

http://www.FinancialStability.gov/latest/reportsanddocs.html. Please see Appendix 1 for a 

description of the programs listed in the chart above. 

8
Monthly 105(a) Report December 2009

Targeted Investment Program and Asset Guarantee Program

In December 2009, Citigroup, Inc. (Citigroup) and Bank of America Corporation (Bank of 

America) repaid $40 billion of Treasury investment under the Targeted Investment Program 

(TIP). Treasury had invested $20 billion in each of Citigroup and Bank of America under the TIP 

and acquired preferred stock or trust preferred securities. Treasury also received warrants in 

connection with both investments. 

In the Asset Guarantee Program (AGP), under which only Citigroup entered into a definitive final 

agreement, TARP funds were committed as a reserve to cover up to $5 billion possible losses 

on the pool of Citigroup’s covered assets. As a premium for the guarantee, Treasury received 

$4.034 billion of preferred stock, subsequently exchanged for trust preferred securities, with 

identical terms as Citigroup’s agreement under TIP, and Treasury also received warrants. 

On December 23, 2009, Treasury, the Federal Deposit Insurance Corporation (FDIC), the 

Federal Reserve Bank of New York (FRBNY) and Citigroup, as parties to the Master Agreement 

for the AGP, entered into a Termination Agreement, pursuant to which: (1) Treasury’s guarantee 

commitment was terminated, (2) Treasury agreed to cancel $1.8 billion of the trust preferred 

securities issued by Citigroup from $4.034 billion to $2.234 billion for early termination of the 

guarantee, (3) the FDIC and Treasury agreed that, subject to the conditions set out in the 

Termination Agreement, the FDIC may transfer $800 million of trust preferred securities to 

Treasury at the close of Citigroup’s participation in the FDIC’s Temporary Liquidity Guarantee 

Program, and (4) Citigroup agreed to comply with the executive compensation provisions 

outlined in Section 111 of EESA as well as review the actual incentive compensation 

agreements for Citigroup’s top 30 earners to be sure they comport with the Federal Reserve 

Board of Governors’ incentive compensation principles as set forth in the Board of Governors’ 

guidance. 

For the time period that the Citigroup asset guarantee was outstanding, Citigroup made no 

claims for loss payments to any federal party and consequently Treasury made no guarantee 

payments of TARP funds to Citigroup. 

Capital Purchase Program

A major part of TARP is the Capital Purchase Program (CPP). Under this program, Treasury 

invested in banks and other financial institutions to increase their capital. Banks use the CPP 

money in a number of ways, including shoring up capital, investing in assets, and increasing 

lending. 

The CPP remained open through 2009 for investments in small banks, with terms aimed at 

encouraging participation by small community banks that are qualified financial institutions 

(QFIs) under CPP terms. The last application deadline was November 21, 2009. Final closings 

occurred in December. 

During December: 

• Treasury made new investments in 37 small banks totaling $180.14 million, including 31 

small banks participating in the expansion of the CPP. 

9
Monthly 105(a) Report December 2009

• Treasury received $323.11 million in dividends and interest from CPP investments, 

$50.85 billion in CPP repayments, and approximately $1.1 billion from CPP warrant 

repurchases and auctions. 

See below for more information on CPP warrants. 

Figure 8: CPP Snapshot through December 

CPP Investments

Disbursements in December 2009: $180.14 million to 37 banks

Total amount disbursed since October 2008: $204.9 billion

CPP investments repaid since October 2008: $121.89 billion

CPP Banks

Participation across the US:

Banks in 48 states, the District of Columbia, and Puerto Rico

Largest Investment: $25 billion

Smallest Investment: $301,000

Number of institutions that have received CPP investment: 707

Number of institutions that have repaid CPP investment: 64*

Number of institutions currently participating in CPP: 646

*Including partial investments/repayments

CPP Facts

Details on the Capital Purchase Program are available at 

http://www.FinancialStability.gov/roadtostability/capitalpurchaseprogram.html. 

The CPP was originally available to banks of all sizes. Figures 9 and 10 show the distribution of 

CPP funds by size of investment as of December 31, 2009. These charts include all 707 banks 

that have received funds, including those that have repaid the investment. The CPP investment 

amount is determined by the size of the bank. The CPP investments are no less than one 

percent and no greater than three percent (five percent for small banks) of the recipient’s riskweighted assets. 

10

500

72 53 57

19

6 0

100

200

300

400

500

600

Less than 

$25 million

$25 million 

- $50 

million

$50 million 

- $100 

million

$100 

million - $1 

billion

$1 billion -

$10 billion 

$10 billion 

and up 

$189.5

$13.3

$2.1

$-

$20 

$40 

$60 

$80 

$100 

$120 

$140 

$160 

$180 

$200 

Large (CPP 

investment of $250 

million and up)

Medium (CPP 

investment $12 

million - $250 million)

Small (CPP 

investment $12 

million and less)

Billions

Figure 10: Total CPP funds disbursed by 

investment amount through December 

Figure 9: Number of CPP banks by 

investment amount through December 
Monthly 105(a) Report December 2009

CPP Warrants 

Treasury also receives warrants in connection with most of its CPP investments. Community 

development banks were not required to issue warrants. When a publicly traded bank repays 

Treasury for a preferred stock investment, the bank has the right to repurchase its warrants. 

The warrants do not trade on any market and do not have observable market prices. If the bank 

wishes to repurchase its warrants, an independent valuation process is used to establish fair 

market value. If an institution chooses not to repurchase its warrants, Treasury is entitled to sell 

them. 

Privately held banks that received CPP funds issued Treasury a warrant for additional shares of 

preferred stock, which Treasury immediately exercised. Any proceeds from the repurchases of 

shares acquired from a warrant are included as cash received from sales of warrants in the 

chart below. 

In December 2009, Treasury conducted public auctions for its warrants in Capital One Financial 

Corporation, JPMorgan Chase & Co., and TCF Financial Corporation. Each of these banks had 

fully repurchased Treasury’s preferred stock investment. The auctions were conducted as 

modified “Dutch” auctions registered under the Securities Act of 1933, in a format where 

qualified bidders may submit one or more independent bids at different price-quantity 

combinations and the warrants will be sold at a uniform price that clears the market. 

Proceeds to Treasury from the auction of its warrants in Capital One Financial Corporation, 

JPMorgan Chase & Co. and TCF Financial Corporation, were approximately $148.73 million, 

$950.32 million and $9.59 million, respectively, with net receipts to Treasury after underwriting 

fees and selling expenses of approximately $146.50 million, $936.06 million and $9.45 million, 

respectively. Treasury expects to conduct similar auctions in the future. 

CPP Dividends and Repayments 

Treasury receives dividend or interest payments on its CPP investments. Dividend payments 

are a portion of a company’s earnings that are paid to equity investors. Most banks participating 

in the CPP pay Treasury a cumulative dividend rate of 5 percent per year for the first five years 

and 9 percent per year thereafter. S-corporation banks pay an interest rate of 7.7 percent per 

year for the first five years and 13.8 percent thereafter. Preferred shares (or stock) are a form 

of ownership in a company. Preferred shares are senior to common stock, but junior to debt. 

58 of the banks that received investments under CPP have repaid Treasury in full. When a 

bank repays, it is typically also required to pay any accrued and unpaid dividends or interest. 

Treasury continues to work with federal banking regulators to evaluate requests from CPP 

participants interested in repaying Treasury’s investment. 

The chart below shows the amount of dividends, interest and fees, repayments of principal, and 

warrant proceeds under the CPP through December 2009. 

11
Monthly 105(a) Report December 2009

Figure 11: Cash received through the CPP through December 2009 

12

With respect to Citigroup, earlier in 2009 Treasury had exchanged the CPP preferred shares for 

common stock of Citigroup. At the time of Citigroup’s primary offering, conducted in connection 

with its repayment of the TIP trust preferred securities, Treasury agreed not to offer to sell, 

pledge or otherwise dispose of any shares of its common stock in Citigroup or any securities 

convertible into or exercisable or exchangeable for common stock for a period of 90 days after 

December 16, 2009. Thereafter, Treasury expects to sell its Citigroup shares in an orderly 

fashion within six to twelve months. 

On December 23, 2009, Treasury announced the selection of six additional firms to help 

manage the wind-down phase of the CPP and other programs under EESA. In April 2009, 

Treasury had selected three asset managers from the pool of applicants that had $2 billion or 

more in assets under management. The six additional asset managers selected by Treasury 

during the quarterly period were from the pool of applicants with less than $2 billion in asset 

under management. 

Bank Lending and Intermediation Surveys

Capital Purchase Program – Lending Survey Activity 

Each month, Treasury asks banks participating in the CPP to provide information about their 

lending activities and publishes the results in two reports described below. These two reports 

are intended to help the public easily assess the lending and intermediation activities of 

participating banks. 

Monthly Lending and Intermediation Snapshots 

This monthly report gathers and provides data on the lending and other intermediation activities 

for the 22 largest financial institutions that received TARP investments under the CPP. On 

December 14, 2009, Treasury released the results of its tenth survey of banks’ activities, 

including the following information on October lending: 

• The overall outstanding loan balance (of all respondents) fell one percent from 

September to October at the top 22 participants in the CPP, due mainly to decreased 

demand from borrowers, and seasonal patterns. 

• Total origination of new loans at the 22 surveyed institutions was flat from September to 

October. In October, the 22 surveyed institutions originated approximately $240 billion 

12/1/2009 – 12/31/2009 Total since inception

Dividends, Interest and Fees: $323.11 million $8.31 billion 

Repayments of Principal: $50.85 billion $121.89 billion 

Warrant Proceeds*: $1.12 billion $4.01 billion 

Total: $52.29 billion $134.21 billion 

* Includes proceeds from the repurchase of shares received through the exercise of 

warrants. 
Monthly 105(a) Report December 2009

in new loans. Total originations of loans by all respondents rose in two categories 

(commercial and industrial (C & I) new commitments and mortgages ) and fell in six loan 

categories (C&I renewals and new commitments, CRE renewals and new commitments, 

home equity lines of credit (HELOCs), credit cards, and other consumer lending 

products). 

CPP Monthly Lending Report 

This monthly lending report provides data on consumer lending, commercial lending, and total 

lending for all CPP participants. Figure 12 summarizes total loan activity among CPP 

participants.

Figure 12: CPP Monthly Lending Report 

Date Number of 

Respondents*

Total Average 

Consumer Loans

Total Average 

Commercial Loans

Total Average 

Total Loans

2/28/2009 519 $2,898,031 $2,380,691 $5,278,662

3/31/2009 553 $2,885,662 $2,359,016 $5,244,690

4/30/2009 541 $2,852,650 $2,329,536 $5,182,182

5/31/2009 612 $2,843,527 $2,346,620 $5,190,165

6/30/2009 604 $2,812,225 $2,429,930 $5,242,156

7/31/2009 604 $2,803,284 $2,344,395 $5,147,679

8/31/2009 649 $2,789,108 $2,328,433 $5,117,542

9/30/2009 652 $2,795,012 $2,267,421 $5,062,434

9/30/2009 (Adjusted) 642 $2,793,493 $2,264,024 $5,057,517

10/31/2009 644 $2,768,799 $2,248,593 $5,017,393

10/31/2009 (Adjusted) 642 $2,768,690 $2,248,086 $5,016,777

-0.90% -0.71% -0.81%

All CPP Recipients

Change (Sept Adjusted to Oct Adjusted)

Details on the Bank Lending Surveys are available at 

http://www.FinancialStability.gov/impact/surveys.htm. 

The Quarterly Capital Purchase Program Report 

To understand better how the CPP and other stabilization initiatives launched by the Federal 

Government may have affected financial institutions and their activities, an interagency group 

was convened to determine and conduct appropriate analyses. This interagency group consists 

of representatives from Treasury, the Federal Deposit Insurance Corporation, the Federal 

Reserve Board, the Office of the Comptroller of the Currency, and the Office of Thrift 

Supervision. This interagency group has produced a summary of key statistics on lending, 

funding, and capital levels of institutions receiving TARP capital. The banks are grouped into 

CPP participants and non-CPP participants for the analysis. 

Details on the Quarterly Capital Purchase Program Reports are available at 

http://www.FinancialStability.gov/impact/CPPreport.html

13
Monthly 105(a) Report December 2009

Automotive Industry Financing Program - GMAC 

On December 30, 2009, Treasury invested an additional $3.8 billion and restructured its existing 

investments in GMAC as a result of the Supervisory Capital Assessment Program (SCAP). In 

May 2009, SCAP had identified an additional capital need of $5.6 billion for GMAC, which 

Treasury's subsequent forecasts assumed would be provided by Treasury. Due to a variety of 

factors, including that the establishment of the new General Motors and new Chrysler was 

accomplished with less disruption to GMAC than banking supervisors initially projected, 

Treasury’s final commitment of additional capital was $1.8 billion less than the $5.6 billion 

previously announced. 

Prior to December, Treasury had invested $12.5 billion in preferred stock of GMAC, and owned 

$13.1 billion in preferred stock in GMAC, through purchases and the exercise of warrants, and 

35 percent of the common equity in GMAC. Treasury restructured the existing investment in 

GMAC in a manner designed to protect taxpayers as described below: 

• The $3.8 billion of new capital was provided in the form of $2.54 billion of trust preferred 

securities (TRUPs), which are senior to all other capital securities of GMAC, and $1.25 

billion of Mandatory Convertible Preferred Stock (MCP). Treasury received warrants, which 

were immediately exercised, to purchase an additional $127 million of TRUPs and $63 

million of MCP. 

• Treasury also converted $3 billion of its existing MCP, which was invested in May 2009, into 

common equity to boost the quality of the capital supporting GMAC. Treasury's equity 

ownership of GMAC increased from 35 percent to 56.3 percent. Treasury now has the right 

to appoint two additional directors to the GMAC Board of Directors, so that four of nine 

directors will be appointed by Treasury. Treasury intends to nominate its new directors in 

time for GMAC's annual meeting at the end of April. 

• To enable GMAC to meet its SCAP requirements for Tier 1 capital, Treasury exchanged 

$5.25 billion of preferred stock into MCP. As a result of this transaction and the conversion 

described above, Treasury holds $11.4 billion of MCP in GMAC. 

• For the conversion price of the MCP to common stock, Treasury acquired a "reset" for an 

adjustment in 2011, if beneficial to Treasury, based on the market price of GMAC’s capital 

transactions with private investors occurring in 2010. 

• GMAC continues to be subject to a variety of other covenants and requirements, including 

the executive compensation and corporate governance requirements of Section 111 of 

EESA and, as an ongoing recipient of "exceptional" assistance, GMAC remains subject to 

the oversight of the Special Master for Executive Compensation. 

The transaction with GMAC represents the completion of funding provided as part of the SCAP 

process while enabling GMAC to complete its overall restructuring plan, return to the private 

capital markets for its financing needs in 2010, and be in a position to pay back taxpayers as 

soon as practicable. 

14
Monthly 105(a) Report December 2009

Legacy Securities Public-Private Investment Program (S-PPIP) 

S-PPIP is designed, in part, to support market functioning and facilitate price discovery in the 

commercial and non-agency residential mortgage-backed securities markets, helping banks and 

other financial institutions re-deploy capital and extend new credit to households and 

businesses. The nine firms that Treasury had pre-qualified in July 2009 to participate as fund 

managers have completed initial closings and begun operations of Public-Private Investment 

Funds (PPIFs). Treasury has committed (but not yet funded all of) of $1.11 billion of equity 

capital together with $2.22 billion of debt financing to each PPIF, while total Treasury equity and 

debt investment in all PPIFs will equal approximately $30 billion. Following an initial closing, 

each PPIF has the opportunity to conduct additional closings over the following six months and 

to receive matching Treasury equity and debt financing for such additional closings. 

As of December 31, 2009, the PPIFs have completed initial and subsequent closings on 

approximately $6.2 billion of private sector equity capital, which has been matched 100 percent 

by Treasury, representing of $12.4 billion of total equity capital. Treasury has also provided 

$12.4 billion of debt capital, representing $24.8 billion of total funds available for investment. 

Fund managers for the PPIFs have established relationships with small, minority-, and womenowned businesses. Partner firms have roles including: involvement in managing the investment 

portfolio and cash management services, raising capital from private investors, providing trading 

related-services, identifying investment opportunities, and providing investment and market 

research and other advisory services to the PPIFs. 

On December 4, 2009, and shortly thereafter, a fund manager, The TCW Group, Inc., 

terminated the employment of individuals as “Key Persons” under the Limited Partnership 

Agreement for the TCW PPIF. Treasury subsequently notified TCW that a Key Person Event 

had occurred under the limited partnership agreement. Due to the occurrence of a Key Person 

Event, the TCW PPIF was immediately barred from making investments or dispositions (other 

than to avoid a material loss). Additional information regarding the agreement reached between 

Treasury and the TCW Group, Inc. on January 4, 2010 to wind-up and liquidate the TCW PPIF 

is provided in Appendix I (see section titled “S-PPIP Fund Managers”). 

Treasury expects to publish its first public report on S-PPIP activities in early 2010. 

Details on the Legacy Securities Public-Private Investment Program are available at 

http://www.FinancialStability.gov/roadtostability/publicprivatefund.html. 

Small Business 

In addition to the Small Business and Community Lending Initiatives described in Appendix 1, in 

October, the Obama Administration announced new efforts by Treasury and the SBA to improve 

access to credit for small businesses. Treasury is considering several programs to provide 

lower-cost TARP capital to boost small business lending. One program may be directed at 

small banks with less than $1 billion of assets. Participants would be required to submit a plan 

that demonstrates how the additional capital will increase their small business lending efforts. 

Eligible banks may receive new capital at an initial dividend rate of 3 percent compared to the 5 

percent dividend available under the CPP. Also under consideration is the treatment of existing 

CPP participants that wish to replace existing capital with investments under the new program. 

A similar program would be directed at Community Development Financial Institutions. 

15
Monthly 105(a) Report December 2009

Term Asset-Backed Securities Loan Facility 

Under the Term Asset-Backed Securities Loan Facility (TALF), the Federal Reserve Bank of 

New York makes loans to buyers of asset-backed securities in order to stimulate consumer and 

business lending by the issuers of those securities. Treasury uses TARP funds to provide credit 

support for the TALF. The asset-backed securities (ABS) that are eligible for the TALF must be 

backed by new or recently originated auto loans, student loans, credit card loans, equipment 

loans, floorplan loans, insurance premium loans, loans guaranteed by the Small Business 

Administration, residential mortgage servicing advances, or commercial mortgage loans, 

including legacy loans. The markets for ABS are an important source of credit for consumers 

and businesses. These markets essentially stopped functioning during the financial crisis. The 

purpose of TALF is to help restart these markets and help consumers and businesses obtain 

credit. 

The first TALF subscription took place on March 19, 2009 and there have been 16 monthly ABS 

and CMBS subscriptions as of December 31, 2009. A total of $61.7 billion of TALF-eligible 

legacy and new ABS and CMBS issuance has been lent against.  

Figure 13 shows the increase in issuance of consumer ABS since the launch of TALF in March 

2009. 

Figure 13: Total Consumer ABS Issuance through December 

18.5 18.2 

8.2 8.1 

3.6 

0.4 0.5 

1.9 1.3 1.6 

2.0 

5.2 

1.2 

5.8 

2.0 

0.1 

4.4 4.3 

6.6 

0.3 

8.3 2.9 

13.6 

16.5 

12.6 

9.1 

16.8 

6.6 

6.0 

3.8 

0

5

10

15

20

25

TALF

Standard

$ Blns

Source: Markets Room, U.S. Treasury Department (12/04/09) 

Details on TALF are available at 

http://www.FinancialStability.gov/roadtostability/lendinginitiative.html

16
Monthly 105(a) Report December 2009

The Office of the Special Master for TARP Executive Compensation 

Under EESA (as amended in 2009) and Treasury’s Interim Final Rule on TARP Standards for 

Compensation and Corporate Governance (the “Rule”), the Office of the Special Master for 

TARP Executive Compensation has a mandate to review all forms of compensation for the five 

most senior executive officers and the next 20 most highly compensated employees (the “Top 

25”), as well as compensation structures for executive officers and up to the 75 additional most 

highly compensated employees (“Covered Employees 26–100”), at firms that have received 

exceptional TARP assistance. Initially, there were seven such firms: AIG, Bank of America, 

Chrysler, Chrysler Financial, Citigroup, GM, and GMAC. 

Special Master Determinations 

On October 22, 2009, the Special Master for TARP Executive Compensation, Kenneth R. 

Feinberg, issued determinations on the compensation structures and all amounts potentially 

payable to the Top 25 at the seven exceptional assistance recipients. 

On December 11, 2009, the Special Master issued determinations on the compensation 

structures for Covered Employees 26–100. Unlike the October rulings, which addressed 

specific amounts payable to Top 25 executives, Treasury regulations require the Special Master 

to only address compensation structures for Covered Employees 26–100. These 

determinations covered four companies: AIG, Citigroup, GM, and GMAC. Chrysler and Chrysler 

Financial were exempt from the Special Master’s review during this round because total pay for 

their executives does not exceed the $500,000 “safe harbor” limitation in Treasury's 

compensation regulations. As detailed below, because Bank of America’s repayment of its 

TARP obligations, its Covered Employees 26–100 were no longer subject to the Special 

Master's review. 

The compensation structures approved by the Special Master for Covered Employee 26–100 

groups have the following general features: 

• Short-term cash compensation is restricted. Cash salaries are generally limited to 

$500,000 other than for exceptional cases, with overall cash limited in most cases to 

45% of total compensation in cash. All other pay must be in company stock. 

• Incentive compensation without real achievement of performance is forbidden. Total 

incentives are limited to a fixed pool, incentive payments may be made only if objective 

goals are achieved, and all such payments must be subject to “clawback” if results prove 

illusory. 

• Compensation structures must have a long-term focus. In most cases, at least 50 

percent of total compensation must be held for three years, at least 50 percent of 

incentive pay must be granted in long-term stock, and any cash incentives must be 

delivered over at least two years—single, lump-sum cash bonuses are not permitted. 

. 

• Pay practices that are not aligned with shareholder and taxpayer interests, such as 

golden parachutes, supplemental executive retirement benefits, excessive perquisites 

and tax gross-ups are frozen or forbidden. 

In addition to determinations for Covered Employees 26–100, the Special Master issued several 

supplemental determinations in December, including determinations approving pay packages 

for the new chief executive officer of GMAC and the new chief financial officer of GM. The pay 

17
Monthly 105(a) Report December 2009

packages approved by the Special Master for the newly hired executives generally conform to 

the principles and structures of the Top 25 determinations. All the Special Master’s 

determinations are available at the website identified below. 

Effects of TARP Repayment 

First, prior to the Special Master’s determinations for the Covered Employee 26–100 groups, 

Bank of America repaid its TARP obligations, ending its “TARP period” under the Rule. As a 

result, the compensation structures for Bank of America’s Covered Employees 26–100 were no 

longer subject to the Special Master’s review, and no determination in that regard was issued. 

In addition, Special Master approval is not required for future compensation structures and 

payments to Bank of America executives. Payments to Bank of America’s Top 25 relating to 

service prior to the repayment, however, remain subject to the Special Master’s October 

determinations. With respect to its Top 25, Bank of America agreed to comply with the Rule 

and with the October determinations as if the repayment occurred on December 31, 2009. 

Second, after the Special Master’s determinations for the Covered Employee 26–100 groups, 

Citigroup repaid certain TARP obligations, and ceased to be an "exceptional assistance 

recipient” for purposes of the Rule. As a result of the repayment, Special Master approval is not 

required for future compensation structures and payments to Citigroup executives. Payments 

and compensation structures for Citigroup’s Top 25 and Covered Employees 26–100, however, 

remain subject to the Special Master’s October and December determinations, respectively. 

Citigroup agreed to comply with the Rule and with the October and December determinations as 

if the repayment occurred on December 31, 2009. The executive compensation restrictions that 

apply to TARP recipients that are not “exceptional assistance recipients” continue to apply to 

Citigroup until it extinguishes its remaining TARP obligations. 

The Special Master is in the process of requesting 2010 compensation proposals for the 

remaining exceptional assistance recipients. 

Information regarding the determination letters and executive compensation is available at: 

http://www.FinancialStability.gov/about/executivecompensation.html and 

http://www.FinancialStability.gov/latest/tg_102220009e.html. 

Home Affordable Modification Program 

The Home Affordable Modification Program (HAMP), part of Making Home Affordable (MHA), 

was first announced by the Obama Administration in February 2009 as part of its Financial 

Stability Plan. Using TARP funds, Treasury provides incentives for mortgage servicers, 

borrowers and investors to modify loans that are delinquent or at imminent risk of default to an 

affordable monthly payment equal to no more than 31 percent of a borrower’s gross monthly 

income. Borrowers must be owner occupants, demonstrate the ability to support the reduced 

payment during a three-month trial, and submit required documentation before the modification 

becomes permanent. 

Participating servicers must enter into the Servicer Participation Agreements with Treasury on 

or before October 3, 2010. 

• From April through December 2009, 103 servicers have executed Servicer Participation 

Agreements and more than $35.54 billion (of a total potential allocation from TARP funds 

of $50 billion) has been committed to implement the program. 

18
Monthly 105(a) Report December 2009

• Servicers for loans that are owned or securitized by Fannie Mae or Freddie Mac (GSEs) 

are required to participate in the related GSE’s HAMP for their portfolio of GSE loans. 

The incentives for these GSE HAMP modifications are funded by the related GSEs from 

their own resources. 

Borrowers may be accepted into HAMP if a borrower has made the first trial period payment on 

or before December 31, 2012. Modification interest rates are locked for five years from the start 

date of the modification. Incentive payments to servicers, investors and borrowers will continue 

to be paid out over that period. At the end of five years, the reduced interest rate will increase 

by one percent per year until it reaches the cap, which is the market rate at the time the trial 

period began. The capped rate is fixed for the life of the loan. 

• By month-end November 2009, more than 697,026 active trial modifications had started 

and more than 1,032,837 trial modification offers were extended. 2

Participating servicers and state, local and community stakeholders have worked with Treasury 

to improve the overall effectiveness and efficiency of HAMP, by introducing: 

• A streamlined documentation process, including standardization of forms, reduced 

paperwork requirements, servicer-to-borrower response guidelines, and electronic 

signature acceptance for modification documents. 

• Enhanced availability of foreign language translations for HAMP information and 

document summaries, and other web tools for borrowers. 

Conversion Campaign 

In December, Treasury conducted a nationwide mortgage modification conversion campaign to 

ensure that servicers make every reasonable effort to convert eligible borrowers from a trial to a 

permanent modification. The conversion campaign involved onsite monitoring of the seven 

largest servicers by Treasury and Fannie Mae staff, and daily loan-level conversion reporting 

through the month of December. The conversion campaign resulted in a significant increase in 

the number of borrowers offered permanent modifications by these servicers and considerable 

improvements in the implementation and operation of modification processes going forward.3

Trial Modification Review Period 

Building on the conversion campaign, Treasury also introduced a review period lasting until 

January 31st, 2010 for all trial modifications that were set to expire on or before that date, but 

were either missing required documentation or for which the servicer has not had time to review 

the submitted documents. During this review period, servicers may not cancel any active trial 

modifications unless the related property does not meet the HAMP property eligibility 

requirements. Servicers must review all outstanding trial modifications, notify borrowers if any 

19

                                                           

2

 The reporting cycle for official numbers of trial and permanent modifications has shifted to the 15th of 

each month. Data for December 2009 will be released on January 15, 2010. The MHA Monthly Servicer 

Performance Reports are available at http://www.FinancialStability.gov/latest/reportsanddocs.html. 

3

 The results of the conversion campaign will be reflected in the February MHA reporting cycle. The MHA 

Monthly Servicer Performance Reports are available at 

http://www.FinancialStability.gov/latest/reportsanddocs.html.
Monthly 105(a) Report December 2009

20

documents are missing, and give these borrowers until January 31st, 2010 to submit any 

missing documents or make any missed trial period payments.4

HPDP, Second Lien, and Foreclosure Alternatives 

Additional enhancements of HAMP include: 

• The Home Price Decline Protection (HPDP), which provides additional incentive 

payments for modifications on properties located in areas where home prices have 

declined. 

• The Second Lien Modification Program (2MP), which provides incentives for second lien 

holders to modify or extinguish a second lien mortgage when a modification has been 

initiated on the first lien mortgage for the same property under HAMP. 

• The Home Affordable Foreclosure Alternatives Program (HAFA), which provides 

financial incentives to servicers and borrowers who utilize a short sale or a deed-in-lieu 

(DIL) to avoid foreclosure on HAMP-eligible loans. The HAFA program simplifies and 

streamlines the use of short sale and DIL options by incorporating financial incentives to 

borrowers, servicers, and investors. The program also ensures pre-approved short sale 

terms prior to listing the property on the market. The program requires that borrowers be 

fully released from future liability for the debt. 

Monthly Servicer Reports 

To ensure transparency and servicer accountability, servicer-specific results are publicly 

reported on a monthly basis. The report format now includes the number of Trial Period Plans 

that have transitioned to permanent modifications as well as a break-out of the 15 metropolitan 

areas with the highest program activity. The MHA Monthly Servicer Performance Report for 

December will be available on January 15, 2010 at 

http://www.FinancialStability.gov/latest/reportsanddocs.html. 

Second Look 

In its role as compliance agent for HAMP, Freddie Mac reviews samples of loans that potentially 

could have been eligible for HAMP modification, but were not offered a HAMP modification. 

This process, known as a “Second Look” examines servicer non-performing loan (NPL) 

portfolios to identify borrowers who have requested a HAMP modification but were denied, or 

who may have been overlooked and inadvertently denied a HAMP modification. Following 

these reviews, Freddie Mac provides Treasury with assessments of each servicer’s program 

compliance. If appropriate, Treasury will implement remedies for non-compliance. These 

remedies may include withholding or reducing incentive payments to servicers, requiring 

repayments of prior incentive payments made to servicers with respect to affected loans, or 

requiring additional servicer oversight.

Details on the Home Affordable Modification Program are available at 

http://www.FinancialStability.gov/roadtostability/homeowner.html and the Making Home 

Affordable programs at http://www.makinghomeaffordable.gov. 

                                                           

4

 Additional information is available at: 

https://www.hmpadmin.com/portal/docs/hamp_servicer/sd0910.pdf

 

Appendix 1 Page

Description of TARP Programs:

Capital Purchase Program 23

SCAP and CAP 24

Targeted Investment Program 24-25

AIG Investment 25

Asset Guarantee Program 25

Automotive Industry Finance Program 27

Consumer and Business Lending Initiative

(TALF & Small Business) 29

Legacy Securities Public-Private Investment Program 30

Making Home Affordable 32

Office of the Special Master

(Executive Compensation) 33

How Treasury Exercises its Voting Rights 35

Appendix 2 Page

December Financial Statement 39
Monthly 105(a) Report December 2009

23

Capital Purchase Program

What is the CPP?

Treasury created the Capital Purchase Program (CPP) in October 2008 to stabilize the 

financial system by providing capital to viable banks of all sizes throughout the nation. 

With a strengthened capital base, banks have an increased capacity to lend to U.S. 

businesses and consumers and to support the U.S. economy.

Although many banks were fundamentally sound, because of the capital restraints 

caused by the troubled market conditions, they were hesitant to lend. The level of 

confidence between banks and other financial institutions was also low, so they were 

unwilling to lend to each other.

Restoring capital and confidence is essential to allowing the financial system to work 

effectively and efficiently.

How does the CPP work?

Through the CPP, Treasury invested in banks to increase their capital and to enable 

them to continue lending to businesses and consumers and otherwise serve their 

customers. 

Treasury purchased senior preferred shares and other interests from qualifying U.S.-

controlled banks, savings associations, and other financial institutions. Treasury also 

receives warrants to purchase common shares or other securities from the banks.

Banks use the CPP money in a number of ways, including shoring up capital, investing 

in assets, and increasing lending. 

Banks participating in the CPP pay Treasury dividends on the preferred shares at a rate 

of five percent per year for the first five years following Treasury’s investment and at a 

rate of nine percent per year thereafter. S-corporation banks pay an interest rate of 7.7 

percent per year for the first five years and 13.8 percent thereafter. Preferred shares (or 

stock) are a form of ownership in a company. 

Banks may repay Treasury under the conditions established in the purchase agreements 

as amended by the American Recovery and Reinvestment Act. Treasury also has the 

right to sell the securities. The repayment price is equal to what Treasury paid for the 

shares, plus any unpaid dividends or interest.

When a publicly-traded bank repays Treasury for the preferred stock investment, the 

bank has the right to repurchase its warrants. The warrants do not trade on any market 

and do not have observable market prices. If the bank wishes to repurchase warrants, 

an independent valuation process is used to establish fair market value. If an institution 

chooses not to repurchase the warrants, Treasury is entitled to sell the warrants. In 

November and December 2009, Treasury began public offerings registered with the 

Securities and Exchange Commission for the sale of warrants using a modified Dutch 

auction methodology.
Monthly 105(a) Report December 2009

24

Supervisory Capital Assessment Program (SCAP) and Capital 

Assistance Program (CAP) 

What are SCAP and CAP?

The Supervisory Capital Assessment Program and Capital Assistance Program were 

important components of the Financial Stability Plan to help ensure that banks have a 

sufficient capital cushion in a more adverse economic scenario. SCAP was a 

comprehensive capital assessment exercise, or “stress test”, for the largest 19 U.S. bank 

holding companies and a complement to the CAP. 

On November 9, 2009, Treasury announced the closure of the Capital Assistance 

Program. Of the 19 banks that participated in the SCAP, 18 demonstrated no need for

additional capital or fulfilled their need in the private market. GMAC is the only financial 

institution that was not able to raise sufficient capital. In December 2009, GMAC and 

Treasury completed the investment contemplated in May, which was funded under the 

Automotive Industry Financing Program. 

How did SCAP and CAP work?

Federal banking supervisors conducted forward-looking assessments to provide the 

transparency necessary for individuals and markets to judge the strength of the banking 

system. Results of the stress tests were released on May 7, 2009. 

Some banks were required to take steps to improve the quality and/or the quantity of 

their capital to give them a larger cushion to support future lending even if the economy 

performs worse than expected. Banks had a range of options to raise capital in the 

private markets, including common equity offerings, asset sales and the conversion of 

other forms of capital into common equity. If these options were not sufficient, they 

could request additional capital from the government through the CAP. Financial 

institutions had to submit a detailed capital plan to supervisors, who consulted with 

Treasury on the development and evaluation of the plan. Any bank needing to augment 

its capital buffer at the conclusion of the SCAP was required to develop a detailed capital 

plan in June 2009, and had until November 2009 to implement that capital plan.

In cases in which the SCAP indicated that an additional capital buffer was warranted, 

institutions had an opportunity to turn first to private sources of capital, but were also 

eligible to receive government capital via investment available immediately through the 

CAP. Eligible U.S. banks that did not participate in the SCAP could apply to their 

primary federal regulator to receive capital under the CAP.

Targeted Investment Program and AIG Investment

Pursuant to EESA, Treasury has provided additional assistance on a case-by-case basis in 

order to stabilize institutions that were considered systemically significant to prevent broader 

disruption of financial markets. Treasury has provided this assistance by purchasing preferred 

shares in the institutions. As part of those transactions Treasury has also received warrants to 

purchase common shares in the institutions. Assistance under these programs was provided to:
Monthly 105(a) Report December 2009

25

Targeted Investment Program (TIP)

Under the TIP, Treasury purchased $20 billion in preferred stock from Citigroup, Inc. and 

$20 billion in preferred stock from Bank of America Corporation. Both preferred stock 

agreements pay a dividend of eight percent per annum. These investments were in 

addition to CPP investments in these institutions. As part of an exchange offer designed 

to strengthen Citigroup’s capital, Treasury exchanged all its preferred shares in Citigroup 

for a combination of common shares and trust preferred securities, and the TIP preferred 

shares were exchanged for trust preferred securities.

In December 2009, Bank of America and Citigroup repaid their TIP investments in full.

American International Group (AIG) 

In November 2008, Treasury purchased $40 billion in preferred stock from AIG. In April 

2009, it also created an equity capital facility, under which AIG may draw up to $29.8 

billion as needed in exchange for issuing additional preferred stock to Treasury. As of 

December 31, 2009, AIG has drawn $5.34 billion from the facility. The preferred stock 

pays a non-cumulative dividend of ten percent per year.

The Federal Reserve Bank of New York (FRBNY) also provided loans to AIG. In 

connection with such loans, the FRBNY received convertible preferred shares 

representing approximately 79.8% of the current voting power of the AIG common 

shares. These preferred shares were deposited in a trust, created by the FRBNY. The 

U.S. Treasury (i.e., the general fund) is the beneficiary of this trust.

Asset Guarantee Program

Under the AGP, Treasury supported the value of certain assets held by qualifying financial 

institutions, by helping them absorb unexpectedly large losses on certain assets. The program 

was designed for financial institutions whose failure could harm the financial system and has 

been used in conjunction with other forms of exceptional assistance.

How did AGP work?

The pool of covered assets is proposed by the financial institution in consultation with 

federal regulators and Treasury, and then Treasury applies certain credit tests and asset 

filters in order to determine the final pool of covered assets.

As compensation for its guarantee, Treasury collected a premium in the form of 

preferred stock, warrants, or other form approved by Treasury.

As required by EESA, an actuarial analysis was used to ensure that the expected value 

of the premium is no less that the expected value of the losses to TARP from the 

guarantee. The U.S. government also provided a set of asset management guidelines 

that the institution must follow with respect to the guaranteed pool.
Monthly 105(a) Report December 2009

26

Who Received Assistance Under AGP?

Citigroup

Treasury guaranteed up to $5 billion of potential losses incurred on a $301 billion pool of 

loans, mortgage-backed securities, and other financial assets held by Citigroup. The 

Federal Reserve and the FDIC were also parties to this arrangement. In consideration 

for the guarantee, Treasury received $4.03 billion in preferred securities that pay a 

dividend of eight percent per annum. Treasury also received a warrant to purchase 

approximately 66 million shares of common stock at a strike price of $10.61 per share.

As part of the exchange offer noted earlier, Treasury exchanged preferred shares 

received under the AGP program for an equivalent amount of trust preferred securities 

paying interest at the same rate. 

Treasury did not become obligated to pay on its guaranty unless and until Citigroup has 

absorbed $39.5 billion of losses on the covered pool. Treasury would then have covered

90 percent of all losses on the covered pool, up to a maximum of $5 billion.

On November 17, 2009, Citigroup and the U.S. Federal parties reached agreement 

upon, and finalized, the precise assets constituting the covered pool. 

On December 23, 2009, Citigroup and the U.S. Federal parties terminated the Master 

Agreement for this guarantee arrangement and Treasury agreed to cancel $1.8 billion of 

the trust preferred securities it held as premium for the guarantee.

Bank of America

In January 2009, Treasury, the Federal Reserve and the FDIC agreed to share potential 

losses on a $118 billion pool of financial instruments owned by Bank of America, 

consisting of securities backed by residential and commercial real estate loans and 

corporate debt and derivative transactions that reference such securities, loans and 

associated hedges. 

Bank of America agreed to absorb all eligible losses in the pool up to $10 billion. 

Treasury and the FDIC agreed to share eligible losses in the pool in excess of that 

amount, up to $10 billion, with Treasury’s share capped at $7.5 billion. All further losses 

were to be shared ninety percent by the Federal Reserve and ten percent by Bank of 

America.

On September 21, 2009, negotiations were terminated with Bank of America concerning 

the asset guarantee arrangement announced in January 2009. In connection with that 

termination and in recognition of the benefits provided by entering into the term sheet for 

such arrangement, Bank of America paid the U.S. government $425 million.
Monthly 105(a) Report December 2009

27

Automotive Industry Financing Program

What is the AIFP?

The Automotive Industry Financing Program (AIFP) was developed in December 2008 to 

prevent a significant disruption of the U.S. automotive industry, because the potential for 

such a disruption posed a systemic risk to financial market stability and would have had 

a negative effect on the economy. AIFP funding has helped enable New General Motors 

and New Chrysler to become more viable auto manufacturing companies. 

In the related Auto Supplier Support Program (ASSP), Treasury provides loans to 

ensure that auto suppliers receive compensation for their services and products, 

regardless of the condition of the auto companies that purchase their products. 

How does the AIFP work?

Treasury has provided approximately $80 billion in loans and equity investments to 

General Motors, GMAC, Chrysler, and Chrysler Financial. 

Short-term funding was initially provided to GM and Chrysler on the condition that they 

develop plans to achieve long-term viability. In cooperation with the Administration, GM 

and Chrysler eventually developed satisfactory viability plans and successfully 

conducted in bankruptcy proceedings sales of their assets to new entities: Chrysler’s 

sale process was completed in 42 days and GM’s was completed in 40 days. Treasury 

provided additional assistance during the respective periods.

The terms of the assistance impose a number of restrictions on the recipients. Among 

other things, they must adhere to rigorous executive compensation standards and other 

measures to protect the taxpayer’s interests, including limits on the institution’s 

expenditures and other corporate governance requirements. 

See below to learn how AIFP has helped each participating company.

Chrysler

On January 2, 2009, Treasury loaned $4 billion to Chrysler Holding to give it time to 

implement a viable restructuring plan. On March 30, the Administration determined that 

the business plan submitted by Chrysler failed to demonstrate viability and announced 

that in order for Chrysler to receive additional taxpayer funds, it needed to find a partner. 

Chrysler made the determination that forming an alliance with Fiat was the best course 

of action for its stakeholders.

Treasury continued to support Chrysler as it formed an alliance with Fiat. In connection 

with Chrysler’s bankruptcy proceedings filed on April 30, 2009, Treasury provided an 

additional $1.9 billion under a debtor-in-possession financing agreement to assist 

Chrysler during the bankruptcy. On June 10, 2009, pursuant to a court-approved order, 

substantially all of Chrysler’s assets were sold to the newly formed entity, Chrysler 

Group LLC (New Chrysler). Treasury committed to loan $6.6 billion to New Chrysler in 

working capital funding, and New Chrysler has drawn $4.6 billion of this amount. New 

Chrysler also assumed $500 million of Chrysler Holding’s initial loans from Treasury.
Monthly 105(a) Report December 2009

28

When the sale to New Chrysler was completed, Treasury received 9.9% of the common 

equity in New Chrysler.

The original loans to Chrysler Holding, excluding the $500 million of debt that was 

assumed by New Chrysler, remain outstanding and are in default. In July 2009, Chrysler 

Holding agreed to pay the greater of $1.375 billion or 40% of the equity value of Chrysler 

Financial to Treasury should Chrysler Holding receive certain distributions from Chrysler 

Financial and Treasury agreed to certain forbearance with respect to Chrysler Holding’s 

loans.

Treasury currently owns 9.9% of the equity in New Chrysler, and was owed $5.1 billion 

of debt from New Chrysler. The original loans to Chrysler remain outstanding, but are 

reduced by $500 million of debt that was assumed by New Chrysler. Current equity 

ownership in New Chrysler is as follows: the Chrysler Voluntary Employee Benefit 

Association (VEBA) (67.7%), Fiat (20%), Treasury (9.9%) and the Government of 

Canada (2.5%). 

Chrysler Financial

On January 16, 2009, Treasury announced that it would lend up to $1.5 billion to a 

special purpose vehicle (SPV) created by Chrysler Financial to enable the company to 

finance the purchase of Chrysler vehicles by consumers. To satisfy the EESA warrant 

requirement, the Chrysler Financial SPV issued additional notes entitling Treasury to an 

amount equal to five percent of the maximum loan amount. Twenty percent of those 

notes vested upon the closing of the transaction, and additional notes were to vest on 

each anniversary of the transaction closing date. The loan was fully drawn by April 9, 

2009. On July 14, 2009, Chrysler Financial fully repaid the loan, including the vested 

additional notes and interest.

General Motors

On December 31, 2008, Treasury agreed to make loan $13.4 billion to General Motors 

Corporation to fund working capital. Under the loan agreement, GM was also required 

to implement a viable restructuring plan. The first plan GM submitted failed to establish 

a credible path to viability, and the deadline was extended to June 1. Treasury loaned 

an additional $6 billion to fund GM during this period. To achieve an orderly 

restructuring, GM filed for bankruptcy on June 1, 2009. Treasury provided $30.1 billion 

under a debtor-in-possession financing agreement to assist GM during the bankruptcy. 

The new entity, General Motors Company (New GM), began operating on July 10, 2009, 

following its purchase of most of the assets of the Old GM. 

When the sale to New GM was completed on July 10, Treasury converted most of its 

loans to 60.8% of the common equity in the New GM and $2.1 billion in preferred stock. 

Treasury continues to hold loans in the amount of $6.7 billion. The New GM currently 

has the following ownership: Treasury (60.8%), GM Voluntary Employee Benefit 

Association (VEBA) (17.5%), the Canadian Government (11.7%), and Old GM’s 

unsecured bondholders (10%).

In November, General Motors agreed, subject to certain conditions, to begin quarterly

repayments in December 2009 of its $6.7 billion loan. 
Monthly 105(a) Report December 2009

29

GMAC

On December 29, 2008, Treasury purchased $5 billion in senior preferred equity from 

GMAC LLC, and received an additional $250 million in preferred shares through 

warrants that Treasury exercised at closing. At the same time, Treasury also agreed to 

lend up to $1 billion of TARP funds to GM (one of GMAC’s owners), to purchase 

additional ownership interests in GMAC’s rights offering. GM drew $884 million under 

that commitment on January 16, 2009. 

In May 2009, regulators required GMAC to raise additional capital by November 2009 in 

connection with the SCAP. On May 21, 2009, Treasury purchased $7.5 billion of 

convertible preferred shares from GMAC and received warrants that Treasury exercised 

at closing for an additional $375 million in convertible preferred shares, which enabled 

GMAC to partially meet the SCAP requirements. Additional Treasury investments in 

GMAC were contemplated to enable GMAC to satisfy the SCAP requirements.

On May 29, 2009, Treasury exercised its option to exchange the $884 million loan it had 

made to GM in January 2009 for 35.4% of the common membership interests in GMAC. 

On December 30, 2009, Treasury:

– Invested an additional $3.8 billion in GMAC, consisting of $2.54 billion of trust 

preferred securities (TRUPs), which are senior to all other capital securities of 

GMAC, and $1.25 billion of Mandatory Convertible Preferred Stock (MCP), and 

received warrants, which were immediately exercised, to purchase an additional 

$127 million of TRUPs and $63 million of MCP.

– Converted $3 billion of its existing MCP, which was purchased in May 2009, into 

common stock.

– Exchanged $5.25 billion of preferred stock into MCP.

– For the conversion price of the MCP to common stock, acquired a “reset” for an 

adjustment in 2011, if beneficial to Treasury, based on the market price of GMAC’s 

private capital transactions occurring in 2010. 

As a result of the December 2009 transactions, Treasury's equity ownership of GMAC 

increased from 35 percent to 56.3 percent and Treasury holds $11.4 billion of MCP in 

GMAC. Treasury has the right to appoint two additional directors to the GMAC Board of 

Directors, so that four of nine directors will be appointed by Treasury.

Consumer and Business Lending Initiative (TALF and Small Business)

What is the Term Asset-Backed Securities Loan Facility (TALF)?

The Term Asset-Backed Securities Loan Facility (TALF) is a lending facility operated by 

the Federal Reserve Bank of New York. The FRBNY provides term non-recourse loans 
Monthly 105(a) Report December 2009

30

collateralized by AAA-rated asset-backed securities (ABS) backed by new or recently 

originated auto loans, student loans, credit card loans, equipment loans, floor plan loans, 

insurance premium finance loans, residential mortgage servicing advances, or 

commercial mortgage loans, including legacy commercial mortgage loans, as well as 

collateralized by loans guaranteed by the Small Business Administration. Treasury 

provides credit support for TALF as part of Treasury’s Consumer and Business Lending 

Initiative.

How does the TALF work?

On fixed days each month investors can request the FRBNY to make loans secured by 

eligible consumer, small business ABS, or commercial mortgage backed securities 

(CMBS). Assuming that the borrower and the ABS or CMBS it plans to pledge as 

collateral meet FRBNY’s requirements, the investor will receive the requested funding. 

Most borrowers use the loan, together with their own funds, to purchase the ABS that 

serves as collateral for the TALF loans. 

If the borrower does not repay the loan, the FRBNY will enforce its rights in the collateral 

and sell the collateral to a special purpose vehicle (SPV) established specifically for the 

purpose of purchasing and managing such assets. The SPV is funded, in part, by a $20 

billion subordinated loan commitment from Treasury.

On August 17, 2009, Treasury and the FRBNY announced the extension of the TALF for 

newly-issued ABS and legacy CMBS through March 31, 2010. In addition, TALF will 

make loans against newly issued CMBS through June 30, 2010. There were no further 

additions to the types of collateral eligible for the TALF. 

What is the Small Business and Community Lending Initiative?

Under the Small Business and Community Lending Initiative to ensure that credit flows 

to entrepreneurs and small business owners, Treasury has taken measures to 

complement the Administration’s actions to help small businesses recover and grow, 

including several tax cuts under the American Recovery and Reinvestment Act and a 

temporary increase in the Small Business Administration (SBA) guarantee for certain 

types of loans. Treasury is developing a program to purchase in the secondary market 

securities backed by 7(a) loans guaranteed by the Small Business Administration.

Legacy Securities Public-Private Investment Program

What is the Legacy Securities Public-Private Investment Program (S-PPIP)?

The Legacy Securities Public-Private Investment Program is intended to address the 

problem of legacy real estate-related assets, support market functioning and facilitate 

price discovery in the market for non-agency mortgage-backed securities (MBS), 

allowing banks and other financial institutions to re-deploy capital and extend new credit 

to households and businesses. Both residential and commercial MBS are pools of 

mortgages bundled together by financial institutions. Rights to receive a portion of the 

cash generated by the pools are sold as securities in the financial markets, in the same 
Monthly 105(a) Report December 2009

31

way a stock or bond would be sold in financial markets. The term “legacy assets” 

generally refers to loans, asset-backed securities, and other types of assets that were 

originated or issued before the financial markets for these types of assets deteriorated 

significantly in 2008.

The Public-Private Investment Program was announced as part of the Financial Stability 

Plan, which also originally included a program for legacy loans that would be 

administered by the FDIC. 

In the latter months of 2009, financial market conditions have improved, the prices of 

legacy securities have appreciated and the results of the Supervisory Capital 

Assessment Program enabled banks to raise substantial amounts of capital as a buffer 

against weaker than expected economic conditions, all of which have enabled Treasury 

to proceed with the PPIP program at a scale smaller than initially envisioned.

How does the Legacy Securities PPIP work?

Treasury is partnering with selected fund managers to purchase commercial and nonagency residential and commercial MBS under the S-PPIP.

Treasury provides equity as well as debt financing to investment partnerships formed by 

the fund managers. Treasury will invest one-half of the total equity committed to the 

partnership; the remainder must be raised by the fund manager from private sector 

sources. Treasury also will make a loan to each investment partnership. The loan will 

earn interest and must be repaid at the end of the life of the fund.

Treasury’s maximum equity obligation to a PPIF is expected to be $1.11 billion, and 

Treasury’s maximum debt financing obligation to a PPIF is expected to be $2.22 billion. 

The equity investment, together with warrants received by Treasury, ensures that if 

these PPIFs perform well, the U.S. Treasury will benefit from the upside of the 

performance alongside private investors.

The S-PPIP is designed to help the financial system recover by enabling institutions that 

hold mortgage-backed securities to sell them, thereby freeing up their capital for other 

purposes.

Treasury carefully designed the S-PPIP terms to protect the interests of taxpayers. 

Fund managers may not acquire assets from or sell assets to their affiliates or any other 

PPIF fund manager or private investor that has committed at least ten percent of the 

aggregate private capital raised by such fund manager. Fund managers must submit 

regular monthly reports about assets purchased, assets disposed, asset values, and 

profits and losses. Due to the possibility of actual or potential conflicts of interest 

inherent in any market-based investment program, fund managers also must agree to 

abide by ethical standards and conflicts of interest and compliance rules and a process 

for ensuring adherence to these rules developed by Treasury. In developing these 

requirements, Treasury worked closely with, among others, the staff of the SIGTARP 

and the Federal Reserve. 
Monthly 105(a) Report December 2009

32

S-PPIP Fund Managers

Following a comprehensive two-month application, evaluation, and selection process, 

during which Treasury received over 100 unique applications to participate in the Legacy 

Securities PPIP, in July 2009 Treasury pre-qualified the following firms to participate as 

fund managers in the program: 

o AllianceBernstein, LP and its sub-advisors Greenfield Partners, LLC and Rialto 

Capital Management, LLC; 

o Angelo, Gordon & Co., L.P. and GE Capital Real Estate; 

o BlackRock, Inc.; 

o Invesco Ltd.; 

o Marathon Asset Management, L.P.; 

o Oaktree Capital Management, L.P.; 

o RLJ Western Asset Management, LP; 

o The TCW Group, Inc.; 

o Wellington Management Company, LLP.

In addition, these firms have committed to establishing partnerships with small, minority-, 

and women-owned businesses.

On January 4, 2010, Treasury and TCW entered into a Winding-Up and Liquidation 

Agreement. Following the recent departure of certain key investment professionals at 

TCW, Treasury, the private investors, and TCW have agreed, after careful consideration, 

that it is in the best interest of all investors to end the TCW PPIF investment period, 

release each limited partner (including Treasury) from its capital commitment to the fund, 

and liquidate the fund in a manner that maximizes value to all investors. The TCW PPIF 

had approximately $2 billion of total equity capital commitments ($1 billion of private 

investor capital and $1 billion of Treasury capital). Treasury had also provided an 

additional $2 billion of debt capital. Though the TCW PPIF had access to approximately 

$4.1 billion of total purchasing power, only $513 million of total capital was actually 

funded. Private investors will be offered the option to re-allocate their underfunded 

capital commitments and proceeds from the TCW PPIF liquidation to any of the eight 

other PPIFs.

Making Home Affordable

What is the Home Affordable Modification Program?

The Home Affordable Modification Program (HAMP) is designed to give up to 3 to 4 

million homeowners an opportunity to reduce their monthly mortgage payments to more 

affordable levels. HAMP includes both GSE and non-GSE mortgages. GSE stands for 

“government sponsored enterprise,” and in this report refers to Fannie Mae and Freddie 

Mac.

Up to $50 billion of TARP funds will be used to encourage the modification of non-GSE 

mortgages that financial institutions own and hold in their portfolios (whole loans) and 

mortgages held in private-label securitization trusts. 
Monthly 105(a) Report December 2009

33

How does the HAMP work?

Homeowners participating in HAMP work with HUD-certified housing counselors and 

mortgage servicers to have their monthly first lien mortgage payments adjusted to no 

more than 31 percent of monthly gross income. In other words, HAMP is primarily 

designed to enable responsible homeowners to stay in their homes by reducing 

mortgage payments to an affordable level.

What are the HPDP, Second Lien Program and Home Affordable Foreclosure Alternatives 

Programs?

The Home Price Decline Protection (HPDP) program is a component of HAMP. HPDP 

provides additional incentive payments for modifications on properties located in areas 

where home prices have recently declined. The purpose of the program is to encourage 

additional lender participation and HAMP modifications in areas hardest hit by falling 

home prices and ensure that borrowers in those areas have the opportunity to stay in 

their homes, thereby minimizing foreclosures, which further depress home values.

The Second Lien Modification Program (2MP) will provide incentives for second-lien 

holders to modify or extinguish a second-lien mortgage when a modification has been 

initiated on the first lien mortgage for the same property under HAMP.

The Home Affordable Foreclosure Alternatives Program (HAFA) will provide financial 

incentives to borrowers, servicers, and investors who utilize a short-sale or deed-in-lieu 

(DIL) to avoid foreclosure on a HAMP-eligible loan.

Office of the Special Master for TARP Executive Compensation

What is the scope of the Office of the Special Master?

In June 2009, Treasury published the Interim Final Rule (the “Rule”) on executive 

compensation, promulgated under the EESA as amended by the American Recovery 

and Reinvestment Act of 2009. The Rule contains distinct requirements for recipients of 

TARP funding under certain programs, including CPP participants and recipients of 

exceptional assistance. The exceptional assistance recipients currently include the 

following firms: AIG, Chrysler, Chrysler Financial, GM and GMAC. Bank of America and 

Citigroup ceased to be exceptional assistance recipients upon their respective 

repayments of TARP obligations in December 2009.

Power to Review Executive Compensation

In addition to establishing the Office of the Special Master, the Rule provided the Special Master 

with specific powers designed to ensure that executive pay at these firms is in line with longterm value creation and financial stability. These include:

Review of Payments: For recipients of exceptional assistance, the Special Master is 

required to review and approve compensation structures, including payments made 
Monthly 105(a) Report December 2009

34

pursuant to those structures, for the senior executive officers and 20 next most highly 

paid employees. 

Review of Structures: For each exceptional assistance recipient, the Special Master is 

required to review and approve compensation structures for all executive officers and 

the 100 most highly compensated employees. 

Interpretation: The Special Master has interpretive authority over the executive 

compensation provisions of EESA and the Interim Final Rule. Accordingly, the Special 

Master will make all determinations as to the application of those provisions to particular 

facts. 

Review of Prior Payments: The Special Master is required to review any bonuses, 

retention awards, and other compensation paid to employees of each TARP recipient 

prior to February 17, 2009, to determine whether the payments were contrary to the 

public interest. If the payment is determined to be contrary to the public interest, the 

Special Master will be responsible for negotiating for reimbursements of such payments. 

Special Master Determinations

On October 22, 2009, the Special Master for TARP Executive Compensation Kenneth R. 

Feinberg released determinations on the compensation packages for the five most senior 

executive officers and the next 20 most highly compensated employees at the seven firms that 

were then exceptional assistance recipients.

On December 11, 2009, the Special Master issued determinations on compensation structures 

for exceptional assistance recipients’ executive officers and up to 75 additional most highly 

compensated employees not addressed in the October 22, 2009 decisions. Unlike the October 

determinations, which addressed specific amounts payable to executives, Treasury regulations 

required these rulings to address only compensation structures. Because Bank of America 

previously repaid its TARP obligations, and the compensation of Chrysler and Chrysler

Financial executives were within the $500,000 “safe harbor” limitation in Treasury's 

compensation regulations, the December 11 determinations address only four of the initial 

seven exceptional assistance recipients.

In December 2009, the Special Master also issued several supplemental determinations, 

including approvals of compensation packages for newly hired executives and GM and GMAC. 

These and all other Special Master determinations are available at 

http://www.FinancialStability.gov/about/executivecompensation.html.

The Special Master is in the process of requesting 2010 compensation proposals for the 

exceptional assistance recipients. 

Luxury Policies and Certifications

All TARP recipients are required to adopt a luxury expenditure policy consistent with the 

requirements of the Rule, provide the policy to Treasury and post the policy on their 

Internet website, in each case, within 90 days following publication of the Rule (or, if 

later, 90 days following the closing date of the agreement between the TARP recipient 

and Treasury). These policies are generally required to address expenses including 
Monthly 105(a) Report December 2009

35

entertainment or other events, office and facility renovations, and aviation or other 

transportation services.

The Rule also requires that the compensation committee, CEO, and CFO, of each TARP 

recipient provide certain certifications to Treasury with respect to compliance with the Rule. 

These certifications are due within 120 days of the completion of the TARP recipient’s fiscal 

year.

How Treasury Exercises Its Voting Rights

Treasury is a shareholder in the new General Motors, the new Chrysler, GMAC and Citigroup. 

The Obama Administration has stated that core principles will guide Treasury’s management of 

financial interests in private firms. One such principle is that the United States government will 

not interfere with or exert control over day-to-day company operations and, in the event the 

government obtains ownership interests, it will vote only on key governance issues. These core 

principles also include Treasury's commitment to seek to dispose of its ownership interests as 

soon as practicable. Treasury will follow these principles in a manner consistent with the 

obligation to promote the liquidity and stability of the financial system. 

Treasury does not participate in the day-to-day management of any company in which it has an 

investment nor is any Treasury employee a director of any such company. Treasury’s 

investments have generally been in the form of non-voting securities or loans. For example, the 

preferred shares that Treasury holds in financial institutions under the Capital Purchase 

Program do not have voting rights except in certain limited circumstances, such as amendments 

to the charter of the company, or in the event dividends are not paid for several quarters, in 

which case Treasury has the right to elect two directors to the board.

Treasury has announced that it will follow the following principles in exercising its voting rights:

Governance Principles for companies in which Treasury directly holds voting stock 

1) Treasury intends to exercise its right to vote only on certain matters consisting of:

• The election or removal of directors

• Certain major corporate transactions such as mergers, sales of substantially all 

assets, and dissolution

• Issuances of equity securities where shareholders are entitled to vote

• Amendments to the charter or bylaws.

2) On all other matters, Treasury will either abstain from voting or vote its shares in the 

same proportion (for, against or abstain) as all other shares of the company's stock are 

voted.

For public companies such as Citigroup, Treasury has entered into an agreement in which these 

principles are set forth. For private companies such as GM, GMAC and Chrysler, Treasury 

follows the principles voluntarily or as set forth in a stockholder agreement. In GM, they are 

largely reflected as terms following an initial public offering (IPO). 
Monthly 105(a) Report December 2009

36

Governance of AIG

In the case of AIG:

The U.S. Treasury is the beneficiary of a trust created by the Federal Reserve Bank of 

New York (FRBNY). That trust owns shares having 79.8% of the voting rights of the 

common stock. The FRBNY has appointed three independent trustees who have the 

power to vote the stock and dispose of the stock with prior approval of FRBNY and after 

consultation with Treasury. The trust agreement provides that the trustees cannot be 

employees of Treasury or the FRBNY. The trust exists for the benefit of the U.S. 

Treasury, and the Department of the Treasury does not control the trust and it cannot 

direct the trustees.

Treasury owns preferred stock which does not have voting rights except in certain 

limited circumstances (such as amendments to the charter) or in the event dividends are 

not paid for four quarters, in which case Treasury has the right to elect up to three 

directors to the board.
 

Appendix 2 – Financial Statement

Attached as Appendix 2 is the financial statement required under Sections 105(a)(2) and (3) of 

EESA for the period ending December 31, 2009.
Budget

Object Class 

(BOC) Budget Object Class Title Obligations Expenditures

Pro

Obli

PERSONNEL SERVICES 1100 & 1200 PERSONNEL COMPENSATION & BENEFITS 21,596,766 $ 21,339,480 $ 

$ 

PERSONNEL SERVICES Total: 21,596,766 $ 21,339,480 $ 

$ 

2100 TRAVEL & TRANSPORTATION OF PERSONS 420,922 $ 387,868 $ 

$ 

2200 TRANSPORTATION OF THINGS 11,960 11,960 

 

2300 RENTS, COMMUNICATIONS, UTILITIES & MISC CHARGES 229,092 88,930 

 

2400 PRINTING & REPRODUCTION 395 395 

 

2500 OTHER SERVICES 66,818,800 48,409,231 

 

2600 SUPPLIES AND MATERIALS 300,145 290,167 

 

3100 EQUIPMENT 232,054 222,675 

 

3200 LAND & STRUCTURES - - 

 

4300 INTEREST & DIVIDENDS 8 8 

 

NON-PERSONNEL SERVICES Total: 68,013,376 $ 49,411,234 $ 

$ 

GRAND TOTAL: $89,610,142 70,750,714 9

$ 

United States Department of Treasury

Office of Financial Stability

Troubled Asset Relief Program

Report of Administrative Obligations and Expenditures [Section 105(a)(2)]

For Period Ending 

December 31, 2009 

NON-PERSONNEL SERVICES

$, , , , $ 
U.S. Treasury Department

Office of Financial Stability

Troubled Asset Relief Program

Agreements Under TARP [Section 105(a)(3)(A)]

For Period Ending December 31, 2009

Date

Approved Type of 

or Renewed Transaction Vendor Purpose

10/10/2008 BPA Simpson, Thacher & Bartlett Legal Services

10/11/2008 BPA EnnisKnupp Investment and Advisory Services

10/14/2008 Financial Agent Bank of New York Mellon Custodian and Cash Management

10/16/2008 BPA PricewaterhouseCoopers Internal Control Services

10/18/2008 BPA Ernst & Young Accounting Services

10/23/2008 IAA GSA - Turner Consulting* Archiving Services

10/29/2008 BPA Hughes Hubbard & Reed Legal Services

10/29/2008 BPA Squire Sanders & Dempsey Legal Services

10/31/2008 Contract Lindholm & Associates* Human Resources Services

11/7/2008 BPA Thacher Proffitt & Wood** Legal Services

11/14/2008 IAA Securities and Exchange Commission Detailees

11/14/2008 Procurement CSC Systems and Solutions IT Services

12/3/2008 IAA Trade and Tax Bureau - Treasury IT Services

12/5/2008 IAA Department of Housing and Urban Development Detailees

12/5/2008 Procurement Washington Post Vacancy Announcement

12/10/2008 BPA Thacher Proffitt & Wood** Legal Services

12/12/2008 IAA Pension Benefit Guaranty Corp. Legal Services

12/15/2008 IAA Office of Thrift Supervision Detailees

12/24/2008 Procurement Cushman and Wakefield of VA, Inc. Painting

1/6/2009 IAA Office of the Controller of the Currency Detailees

1/6/2009 IAA State Department Detailees

1/7/2009 Procurement Colonial Parking Parking 

1/9/2009 IAA Internal Revenue Service Detailees

1/27/2009 BPA Cadwalader Wickersham & Taft, LLP Legal Services

1/27/2009 Procurement Whitaker Brothers Bus. Machines* Office Machines

2/2/2009 IAA Government Accountability Office Oversight

2/9/2009 Contract Pat Taylor and Associates, Inc* Temporary Employee Services

2/12/2009 Contract Locke Lord Bissell & Lidell LLP Legal Services

2/18/2009 Financial Agent Freddie Mac Homeownership Program

2/18/2009 Financial Agent Fannie Mae Homeownership Program

2/20/2009 IAA Congressional Oversight Panel Oversight

2/20/2009 Contract Simpson, Thacher & Bartlett Legal Services

2/22/2009 Contract Venable LLP Legal Services

3/6/2009 Contract Boston Consulting Group Management Consulting Support

3/16/2009 Financial Agent EARNEST Partners Asset Management Services

3/23/2009 Procurement Heery International Inc. Architects

3/30/2009 Contract McKee Nelson, LLP*** Legal Services

3/30/2009 Contract Sonnenschein Nath & Rosenthal Legal Services 

3/30/2009 Contract Cadwalader Wickersham & Taft, LLP Legal Services 

3/30/2009 Contract Haynes and Boone LLP Legal Services

3/31/2009 3/31/2009 BPA FI C lti * FI Consulting* Modeling and Analysis

4/3/2009 Procurement American Furniture Rentals* Office Furniture 

4/17/2009 Procurement Herman Miller Office Furniture 

4/17/2009 IAA Bureau of Printing and Engraving Detailee

4/21/2009 Financial Agent AllianceBernstein Asset Management Services

4/21/2009 Financial Agent FSI Group Asset Management Services

4/21/2009 Financial Agent Piedmont Investment Advisors Asset Management Services

5/4/2009 IAA Federal Reserve Detailee

5/14/2009 Contract Phacil* FOIA Services

5/14/2009 IAA Department of Treasury - US Mint Administrative Support

5/22/2009 IAA Department of Justice - ATF Detailee

5/26/2009 Contract Anderson, McCoy & Orta, LLP* Legal Services

5/26/2009 Contract Simpson, Thacher & Bartlett Legal Services

6/5/2009 Contract Department of Treasury - Internal Revenue Service Administrative Support

6/8/2009 IAA Department of Treasury - Financial Management Service Administrative Support

6/29/2009 IAA Department of Interior Administrative Support

7/15/2009 Contract Judicial Watch Legal Advisory

7/17/2009 Contract Korn Ferry International Administrative Support

7/30/2009 Contract Cadwalader Wickersham & Taft, LLP Legal Advisory

7/30/2009 Contract Debevoise & Plimpton, LLP Legal Advisory

7/30/2009 Contract Fox Hefter Swibel Levin & Carol, LLP Legal Advisory

8/11/2009 IAA NASA Detailee

8/18/2009 Contract Mercer, Inc. Administrative Support

9/2/2009 Contract Knowledge Mosaic Inc.* Administrative Support

9/10/2009 Contract Equilar, Inc.* Administrative Support

9/14/2009 Contract PricewaterhouseCoopers Asset Management Services

9/30/2009 Contract SNL Financial LC Financial Advisory

12/8/2009 BPA Anderson, McCoy & Orta, LLP* Legal Services

12/22/2009 Financial Agent Avondale Investments, LLC* Financial Advisory

12/22/2009 Financial Agent Bell Rock Capital, LLC* Financial Advisory

12/22/2009 Financial Agent Howe Barnes Hoefer and Arnett, Inc. Financial Advisory

12/22/2009 Financial Agent KBW Asset Management, Inc. Financial Advisory

12/22/2009 Financial Agent Lombardia Capital Partners, LLC* Financial Advisory

12/22/2009 Financial Agent Paradigm Asset Management, LLC* Financial Advisory

* Small or Women-, or Minority-Owned Small Business

**Contract responsibilities assumed by Sonnenschein Nath & Rosenthal via novation.

***Contract responsibilities assumed by Bingham McCutchen, LLP via novation.
U.S. Treasury Department

Office of Financial Stability

Troubled Asset Relief Program

Insurance Contracts [Section 105(a)(3)(B)]

For Period Ending December 31, 2009

Name Amount

Termination of the $5,000,000,000 Master Agreement 

between Citigroup and the UST, and FDIC occurred on 

December 23, 2009 due to the improvement of Citigroup's 

financial condition and financial market stability. 
Name of Institution City State Investment Description Investment Amount 

 Pricing 

Mechanism

10/28/2008 Bank of America Corporation Charlotte NC Preferred Stock w/ Warrants 15,000,000,000 $ Par 12/9/2009 4 

10/28/2008 The Bank of New York Mellon Corporation New York NY Preferred Stock w/ Warrants 3,000,000,000 $ Par 6/17/2009 4 

11 10/28/2008 Citigroup Inc. New York NY Common Stock w/ Warrants 25,000,000,000 $ Par 

10/28/2008 The Goldman Sachs Group, Inc. New York NY Preferred Stock w/ Warrants 10,000,000,000 $ Par 6/17/2009 4 

10/28/2008 JPMorgan Chase & Co. New York NY Preferred Stock w/ Warrants 25,000,000,000 $ Par 6/17/2009 4 10/28/2008 Morgan Stanley New York NY Preferred Stock w/ Warrants 10,000,000,000 $ Par 6/17/2009 4 10/28/2008 State Street Corporation Boston MA Preferred Stock w/ Warrants 2,000,000,000 $ Par 6/17/2009 5 

10/28/2008 Wells Fargo & Company San Francisco CA Preferred Stock w/ Warrants 25,000,000,000 $ Par 12/23/2009 4 

11/14/2008 Bank of Commerce Holdings Redding CA Preferred Stock w/ Warrants 17,000,000 $ Par 11/14/2008 1st FS Corporation Hendersonville NC Preferred Stock w/ Warrants 16,369,000 $ Par 

14 11/14/2008 UCBH Holdings, Inc. San Francisco CA Preferred Stock w/ Warrants 298,737,000 $ Par 

11/14/2008 Northern Trust Corporation Chicago IL Preferred Stock w/ Warrants 1,576,000,000 $ Par 6/17/2009 4 

11/14/2008 SunTrust Banks, Inc. Atlanta GA Preferred Stock w/ Warrants 3,500,000,000 $ Par 

Transactions Report [Section 105(3)(C, D, G)]

U.S. Treasury Department

Office of Financial Stability

Troubled Asset Relief Program

For Period Ending December 31, 2009

CAPITAL PURCHASE PROGRAM

Capital 

Repayment Date

Footnote Purchase Date 

Seller Purchase Details Capital Rep

3a - 

11/24/2009 11/14/2008 Broadway Financial Corporation Los Angeles CA Preferred Stock 9,000,000 $ Par 

11/14/2008 Washington Federal, Inc. Seattle WA Preferred Stock w/ Warrants 200,000,000 $ Par 5/27/2009 4 

11/14/2008 BB&T Corp. Winston-Salem NC Preferred Stock w/ Warrants 3,133,640,000 $ Par 6/17/2009 4 

11/14/2008 Provident Bancshares Corp. Baltimore MD Preferred Stock w/ Warrants 151,500,000 $ Par 11/14/2008 Umpqua Holdings Corp. Portland OR Preferred Stock w/ Warrants 214,181,000 $ Par 11/14/2008 Comerica Inc. Dallas TX Preferred Stock w/ Warrants 2,250,000,000 $ Par 11/14/2008 Regions Financial Corporation Birmingham AL Preferred Stock w/ Warrants 3,500,000,000 $ Par 11/14/2008 Capital One Financial Corporation McLean VA Preferred Stock w/ Warrants 3,555,199,000 $ Par 6/17/2009 4 11/14/2008 First Horizon National Corporation Memphis TN Preferred Stock w/ Warrants 866,540,000 $ Par 11/14/2008 Huntington Bancshares Columbus OH Preferred Stock w/ Warrants 1,398,071,000 $ Par 11/14/2008 KeyCorp Cleveland OH Preferred Stock w/ Warrants 2,500,000,000 $ Par 

6/3/2009 4 

9/23/2009 4 

12/23/2009 4 

11/14/2008 Zions Bancorporation Salt Lake City UT Preferred Stock w/ Warrants 1,400,000,000 $ Par 11/14/2008 Marshall & Ilsley Corporation Milwaukee WI Preferred Stock w/ Warrants 1,715,000,000 $ Par 11/14/2008 U.S. Bancorp Minneapolis MN Preferred Stock w/ Warrants 6,599,000,000 $ Par 6/17/2009 4 

11/14/2008 TCF Financial Corporation Wayzata MN Preferred Stock w/ Warrants 361,172,000 $ Par 4/22/2009 4 

11/21/2008 First Niagara Financial Group Lockport NY Preferred Stock w/ Warrants 184,011,000 $ Par 5/27/2009 5 

11/21/2008 HF Financial Corp. Sioux Falls SD Preferred Stock w/ Warrants 25,000,000 $ Par 6/3/2009 4 

11/21/2008 Centerstate Banks of Florida Inc. Davenport FL Preferred Stock w/ Warrants 27,875,000 $ Par 9/30/2009 5 

11/21/2008 City National Corporation Beverly Hills CA Preferred Stock w/ Warrants 400,000,000 $ Par 12/30/2009 4 

11/21/2008 First Community Bankshares Inc. Bluefield VA Preferred Stock w/ Warrants 41,500,000 $ Par 7/8/2009 5 

11/21/2008 Western Alliance Bancorporation Las Vegas NV Preferred Stock w/ Warrants 140,000,000 $ Par 11/21/2008 Webster Financial Corporation Waterbury CT Preferred Stock w/ Warrants 400,000,000 $ Par 11/21/2008 Pacific Capital Bancorp Santa Barbara CA Preferred Stock w/ Warrants 180 $ Par ,634,000

11/14/2008 Valley National Bancorp Wayne NJ Preferred Stock w/ Warrants 300,000,000 $ Par 

11/21/2008 Pacific Capital Bancorp Santa Barbara CA Preferred Stock w/ Warrants $ 180,634,000 Par

11/21/2008 Heritage Commerce Corp. San Jose CA Preferred Stock w/ Warrants 40,000,000 $ Par 11/21/2008 Ameris Bancorp Moultrie GA Preferred Stock w/ Warrants 52,000,000 $ Par 11/21/2008 Porter Bancorp Inc. Louisville KY Preferred Stock w/ Warrants 35,000,000 $ Par 11/21/2008 Banner Corporation Walla Walla WA Preferred Stock w/ Warrants 124,000,000 $ Par 11/21/2008 Cascade Financial Corporation Everett WA Preferred Stock w/ Warrants 38,970,000 $ Par 11/21/2008 Columbia Banking System, Inc. Tacoma WA Preferred Stock w/ Warrants 76,898,000 $ Par 11/21/2008 Heritage Financial Corporation Olympia WA Preferred Stock w/ Warrants 24,000,000 $ Par 
Name of Institution City State Investment Description Investment Amount 

 Pricing 

Mechanism

Capital 

Repayment Date

Footnote Purchase Date 

Seller Purchase Details Capital Rep

11/21/2008 First PacTrust Bancorp, Inc. Chula Vista CA Preferred Stock w/ Warrants 19,300,000 $ Par 11/21/2008 Severn Bancorp, Inc. Annapolis MD Preferred Stock w/ Warrants 23,393,000 $ Par 11/21/2008 Boston Private Financial Holdings, Inc. Boston MA Preferred Stock w/ Warrants 154,000,000 $ Par 11/21/2008 Associated Banc-Corp Green Bay WI Preferred Stock w/ Warrants 525,000,000 $ Par 11/21/2008 Trustmark Corporation Jackson MS Preferred Stock w/ Warrants 215,000,000 $ Par 12/9/2009 4 

11/21/2008 First Community Corporation Lexington SC Preferred Stock w/ Warrants 11,350,000 $ Par 11/21/2008 Taylor Capital Group Rosemont IL Preferred Stock w/ Warrants 104,823,000 $ Par 11/21/2008 Nara Bancorp, Inc. Los Angeles CA Preferred Stock w/ Warrants 67,000,000 $ Par 

12/5/2008 Midwest Banc Holdings, Inc. Melrose Park IL Preferred Stock w/ Warrants 84,784,000 $ Par 12/5/2008 MB Financial Inc. Chicago IL Preferred Stock w/ Warrants 196,000,000 $ Par 12/5/2008 First Midwest Bancorp, Inc. Itasca IL Preferred Stock w/ Warrants 193,000,000 $ Par 12/5/2008 United Community Banks, Inc. Blairsville GA Preferred Stock w/ Warrants 180,000,000 $ Par 12/5/2008 WesBanco, Inc. Wheeling WV Preferred Stock w/ Warrants 75,000,000 $ Par 9/9/2009 4 12/5/2008 Encore Bancshares Inc. Houston TX Preferred Stock w/ Warrants 34,000,000 $ Par 12/5/2008 Manhattan Bancorp El Segundo CA Preferred Stock w/ Warrants 1,700,000 $ Par 9/16/2009 4 

12/5/2008 Iberiabank Corporation Lafayette LA Preferred Stock w/ Warrants 90,000,000 $ Par 3/31/2009 5 

12/5/2008 Eagle Bancorp, Inc. Bethesda MD Preferred Stock w/ Warrants 38,235,000 $ Par 12/23/2009 5 

12/5/2008 Sandy Spring Bancorp, Inc. Olney MD Preferred Stock w/ Warrants 83,094,000 $ Par 12/5/2008 Coastal Banking Company, Inc. Fernandina Beach FL Preferred Stock w/ Warrants 9,950,000 $ Par 12/5/2008 East West Bancorp Pasadena CA Preferred Stock w/ Warrants 306,546,000 $ Par 12/5/2008 South Financial Group, Inc. Greenville SC Preferred Stock w/ Warrants 347,000,000 $ Par 12/5/2008 Great Southern Bancorp Springfield MO Preferred Stock w/ Warrants 58,000,000 $ Par 

12/5/2008 12/5/2008 Cathay General Bancorp Los Angeles CA Preferred Stock w/ Warrants 258,000,000 C th G l B LA l CA P f d St k / W t $ Par $ 258 000 000 P12/5/2008 Southern Community Financial Corp. Winston-Salem NC Preferred Stock w/ Warrants 42,750,000 $ Par 

8/26/2009 4 

9/2/2009 4 

12/5/2008 First Defiance Financial Corp. Defiance OH Preferred Stock w/ Warrants 37,000,000 $ Par 12/5/2008 First Financial Holdings Inc. Charleston SC Preferred Stock w/ Warrants 65,000,000 $ Par 

17 12/5/2008 Superior Bancorp Inc. Birmingham AL Trust Preferred Securities w/ Warrants 69,000,000 $ Par 

12/5/2008 Southwest Bancorp, Inc. Stillwater OK Preferred Stock w/ Warrants 70,000,000 $ Par 

12 12/5/2008 Popular, Inc. San Juan PR Trust Preferred Securities w/ Warrants 935,000,000 $ Par 

12/5/2008 Blue Valley Ban Corp Overland Park KS Preferred Stock w/ Warrants 21,750,000 $ Par 12/5/2008 Central Federal Corporation Fairlawn OH Preferred Stock w/ Warrants 7,225,000 $ Par 12/5/2008 Bank of Marin Bancorp Novato CA Preferred Stock w/ Warrants 28,000,000 $ Par 3/31/2009 4 

12/5/2008 BNC Bancorp Thomasville NC Preferred Stock w/ Warrants 31,260,000 $ Par 12/5/2008 Central Bancorp, Inc. Somerville MA Preferred Stock w/ Warrants 10,000,000 $ Par 12/5/2008 Southern Missouri Bancorp, Inc. Poplar Bluff MO Preferred Stock w/ Warrants 9,550,000 $ Par 12/5/2008 State Bancorp, Inc. Jericho NY Preferred Stock w/ Warrants 36,842,000 $ Par 12/5/2008 TIB Financial Corp Naples FL Preferred Stock w/ Warrants 37,000,000 $ Par 12/5/2008 Unity Bancorp, Inc. Clinton NJ Preferred Stock w/ Warrants 20,649,000 $ Par 12/5/2008 Old Line Bancshares, Inc. Bowie MD Preferred Stock w/ Warrants 7,000,000 $ Par 7/15/2009 4 

12/5/2008 FPB Bancorp, Inc. Port St. Lucie FL Preferred Stock w/ Warrants 5,800,000 $ Par 12/5/2008 Sterling Financial Corporation Spokane WA Preferred Stock w/ Warrants 303,000,000 $ Par 12/5/2008 Oak Valley Bancorp Oakdale CA Preferred Stock w/ Warrants 13,500,000 $ Par 

12/12/2008 Old National Bancorp Evansville IN Preferred Stock w/ Warrants 100,000,000 $ Par 3/31/2009 4 

12/12/2008 Capital Bank Corporation Raleigh NC Preferred Stock w/ Warrants 41,279,000 $ Par 12/12/2008 Pacific International Bancorp Seattle WA Preferred Stock w/ Warrants 6,500,000 $ Par 12/12/2008 SVB Financial Group Santa Clara CA Preferred Stock w/ Warrants 235,000,000 $ Par 12/23/2009 5 12/12/2008 LNB Bancorp Inc. Lorain OH Preferred Stock w/ Warrants 25,223,000 $ Par 12/12/2008 Wilmington Trust Corporation Wilmington DE Preferred Stock w/ Warrants 330,000,000 $ Par 

12/12/2008 S h Bh I Li i PA P f dS k /W $ 300 000 000 P

12/5/2008 CVB Financial Corp Ontario CA Preferred Stock w/ Warrants 130,000,000 $ Par 

12/12/2008 Susquehanna Bancshares, Inc Lititz PA Preferred Stock w/ Warrants 300,000,000 $ Par 12/12/2008 Signature Bank New York NY Preferred Stock w/ Warrants 120,000,000 $ Par 3/31/2009 4 

12/12/2008 HopFed Bancorp Hopkinsville KY Preferred Stock w/ Warrants 18,400,000 $ Par 12/12/2008 Citizens Republic Bancorp, Inc. Flint MI Preferred Stock w/ Warrants 300,000,000 $ Par 12/12/2008 Indiana Community Bancorp Columbus IN Preferred Stock w/ Warrants 21,500,000 $ Par 12/12/2008 Bank of the Ozarks, Inc. Little Rock AR Preferred Stock w/ Warrants 75,000,000 $ Par 11/4/2009 4 

12/12/2008 Center Financial Corporation Los Angeles CA Preferred Stock w/ Warrants 55,000,000 $ Par 12/12/2008 NewBridge Bancorp Greensboro NC Preferred Stock w/ Warrants 52,372,000 $ Par 
Name of Institution City State Investment Description Investment Amount 

 Pricing 

Mechanism

Capital 

Repayment Date

Footnote Purchase Date 

Seller Purchase Details Capital Rep

12/12/2008 Sterling Bancshares, Inc. Houston TX Preferred Stock w/ Warrants 125,198,000 $ Par 5/5/2009 4 

12/12/2008 The Bancorp, Inc. Wilmington DE Preferred Stock w/ Warrants 45,220,000 $ Par 12/12/2008 TowneBank Portsmouth VA Preferred Stock w/ Warrants 76,458,000 $ Par 12/12/2008 Wilshire Bancorp, Inc. Los Angeles CA Preferred Stock w/ Warrants 62,158,000 $ Par 12/12/2008 Valley Financial Corporation Roanoke VA Preferred Stock w/ Warrants 16,019,000 $ Par 12/12/2008 Independent Bank Corporation Ionia MI Preferred Stock w/ Warrants 72,000,000 $ Par 12/12/2008 Pinnacle Financial Partners, Inc. Nashville TN Preferred Stock w/ Warrants 95,000,000 $ Par 12/12/2008 First Litchfield Financial Corporation Litchfield CT Preferred Stock w/ Warrants 10,000,000 $ Par 12/12/2008 National Penn Bancshares, Inc. Boyertown PA Preferred Stock w/ Warrants 150,000,000 $ Par 12/12/2008 Northeast Bancorp Lewiston ME Preferred Stock w/ Warrants 4,227,000 $ Par 12/12/2008 Citizens South Banking Corporation Gastonia NC Preferred Stock w/ Warrants 20,500,000 $ Par 12/12/2008 Virginia Commerce Bancorp Arlington VA Preferred Stock w/ Warrants 71,000,000 $ Par 12/12/2008 Fidelity Bancorp, Inc. Pittsburgh PA Preferred Stock w/ Warrants 7,000,000 $ Par 12/12/2008 LSB Corporation North Andover MA Preferred Stock w/ Warrants 15,000,000 $ Par 11/18/2009 4 

12/19/2008 Intermountain Community Bancorp Sandpoint ID Preferred Stock w/ Warrants 27,000,000 $ Par 12/19/2008 Community West Bancshares Goleta CA Preferred Stock w/ Warrants 15,600,000 $ Par 12/19/2008 Synovus Financial Corp. Columbus GA Preferred Stock w/ Warrants 967,870,000 $ Par 12/19/2008 Tennessee Commerce Bancorp, Inc. Franklin TN Preferred Stock w/ Warrants 30,000,000 $ Par 12/19/2008 Community Bankers Trust Corporation Glen Allen VA Preferred Stock w/ Warrants 17,680,000 $ Par 12/19/2008 BancTrust Financial Group, Inc. Mobile AL Preferred Stock w/ Warrants 50,000,000 $ Par 12/19/2008 Enterprise Financial Services Corp. St. Louis MO Preferred Stock w/ Warrants 35,000,000 $ Par 12/19/2008 Mid Penn Bancorp, Inc. Millersburg PA Preferred Stock w/ Warrants 10,000,000 $ Par 12/19/2008 Summit State Bank Santa Rosa CA Preferred Stock w/ Warrants 8,500,000 $ Par 

12/19/2008 VIST Financial Corp. Wyomissing PA Preferred Stock w/ Warrants 25,000,000 $ Par 12/19/2008 Wainwright Bank & Trust Company Boston MA Preferred Stock w/ Warrants 22,000,000 $ Par 11/24/2009 4 

12/19/2008 Whitney Holding Corporation New Orleans LA Preferred Stock w/ Warrants 300,000,000 $ Par 12/19/2008 The Connecticut Bank and Trust Company Hartford CT Preferred Stock w/ Warrants 5,448,000 $ Par 12/19/2008 CoBiz Financial Inc. Denver CO Preferred Stock w/ Warrants 64,450,000 $ Par 12/19/2008 Santa Lucia Bancorp Atascadero CA Preferred Stock w/ Warrants 4,000,000 $ Par 12/19/2008 Seacoast Banking Corporation of Florida Stuart FL Preferred Stock w/ Warrants 50,000,000 $ Par 12/19/2008 Horizon Bancorp Michigan City IN Preferred Stock w/ Warrants 25,000,000 $ Par 12/19/2008 Fidelity Southern Corporation Atlanta GA Preferred Stock w/ Warrants 48,200,000 $ Par 12/19/2008 Community Financial Corporation Staunton VA Preferred Stock w/ Warrants 12,643,000 $ Par 12/19/2008 Berkshire Hills Bancorp, Inc. Pittsfield MA Preferred Stock w/ Warrants 40, $ Par 5/27/2009 000,000 4 12/19/2008 First California Financial Group, Inc Westlake Village CA Preferred Stock w/ Warrants 25,000,000 $ Par 12/19/2008 AmeriServ Financial, Inc Johnstown PA Preferred Stock w/ Warrants 21,000,000 $ Par 12/19/2008 Security Federal Corporation Aiken SC Preferred Stock w/ Warrants 18,000,000 $ Par 12/19/2008 Wintrust Financial Corporation Lake Forest IL Preferred Stock w/ Warrants 250,000,000 $ Par 12/19/2008 Flushing Financial Corporation Lake Success NY Preferred Stock w/ Warrants 70,000,000 $ Par 10/28/2009 5 

12/19/2008 Monarch Financial Holdings, Inc. Chesapeake VA Preferred Stock w/ Warrants 14,700,000 $ Par 12/23/2009 5 

12/19/2008 StellarOne Corporation Charlottesville VA Preferred Stock w/ Warrants 30,000,000 $ Par 12/19/2008 Union Bankshares Corporation Bowling Green VA Preferred Stock w/ Warrants 59,000,000 $ Par 11/18/2009 5 

12/19/2008 Tidelands Bancshares, Inc Mt. Pleasant SC Preferred Stock w/ Warrants 14,448,000 $ Par 12/19/2008 Bancorp Rhode Island, Inc. Providence RI Preferred Stock w/ Warrants 30,000,000 $ Par 8/5/2009 4 

12/19/2008 Hawthorn Bancshares, Inc. Lee's Summit MO Preferred Stock w/ Warrants 30,255,000 $ Par 12/19/2008 The Elmira Savings Bank, FSB Elmira NY Preferred Stock w/ Warrants 9,090,000 $ Par 12/19/2008 Alliance Financial Corporation Syracuse NY Preferred Stock w/ Warrants 26,918,000 $ Par 5/13/2009 4 12/19/2008 Heartland Financial USA, Inc. Dubuque IA Preferred Stock w/ Warrants 81,698,000 $ Par 12/19/2008 Citizens First Corporation Bowling Green KY Preferred Stock w/ Warrants 8,779,000 $ Par 

2 12/19/2008 FFW Corporation Wabash IN Preferred Stock w/ Exercised Warrants 7,289,000 $ Par 2 12/19/2008 Plains Capital Corporation Dallas TX Preferred Stock w/ Exercised Warrants 87,631,000 p p $ Par , ,

2 12/19/2008 Tri-County Financial Corporation Waldorf MD Preferred Stock w/ Exercised Warrants 15,540,000 $ Par 3 12/19/2008 OneUnited Bank Boston MA Preferred Stock 12,063,000 $ Par 2 12/19/2008 Patriot Bancshares, Inc. Houston TX Preferred Stock w/ Exercised Warrants 26,038,000 $ Par 2 12/19/2008 Pacific City Financial Corporation Los Angeles CA Preferred Stock w/ Exercised Warrants 16,200,000 $ Par 2 12/19/2008 Marquette National Corporation Chicago IL Preferred Stock w/ Exercised Warrants 35,500,000 $ Par 2 12/19/2008 Exchange Bank Santa Rosa CA Preferred Stock w/ Exercised Warrants 43,000,000 $ Par 2 12/19/2008 Monadnock Bancorp, Inc. Peterborough NH Preferred Stock w/ Exercised Warrants 1,834,000 $ Par 
Name of Institution City State Investment Description Investment Amount 

 Pricing 

Mechanism

Capital 

Repayment Date

Footnote Purchase Date 

Seller Purchase Details Capital Rep

2 12/19/2008 Bridgeview Bancorp, Inc. Bridgeview IL Preferred Stock w/ Exercised Warrants 38,000,000 $ Par 2 12/19/2008 Fidelity Financial Corporation Wichita KS Preferred Stock w/ Exercised Warrants 36,282,000 $ Par 2 12/19/2008 Patapsco Bancorp, Inc. Dundalk MD Preferred Stock w/ Exercised Warrants 6,000,000 $ Par 2 12/19/2008 NCAL Bancorp Los Angeles CA Preferred Stock w/ Exercised Warrants 10,000,000 $ Par 2 12/19/2008 FCB Bancorp, Inc. Louisville KY Preferred Stock w/ Exercised Warrants 9,294,000 $ Par 

12/23/2008 First Financial Bancorp Cincinnati OH Preferred Stock w/ Warrants 80,000,000 $ Par 12/23/2008 Bridge Capital Holdings San Jose CA Preferred Stock w/ Warrants 23,864,000 $ Par 12/23/2008 International Bancshares Corporation Laredo TX Preferred Stock w/ Warrants 216,000,000 $ Par 12/23/2008 First Sound Bank Seattle WA Preferred Stock w/ Warrants 7,400,000 $ Par 12/23/2008 M&T Bank Corporation Buffalo NY Preferred Stock w/ Warrants 600,000,000 $ Par 12/23/2008 Emclaire Financial Corp. Emlenton PA Preferred Stock w/ Warrants 7,500,000 $ Par 12/23/2008 Park National Corporation Newark OH Preferred Stock w/ Warrants 100,000,000 $ Par 12/23/2008 Green Bankshares, Inc. Greeneville TN Preferred Stock w/ Warrants 72,278,000 $ Par 12/23/2008 Cecil Bancorp, Inc. Elkton MD Preferred Stock w/ Warrants 11,560,000 $ Par 12/23/2008 Financial Institutions, Inc. Warsaw NY Preferred Stock w/ Warrants 37,515,000 $ Par 12/23/2008 Fulton Financial Corporation Lancaster PA Preferred Stock w/ Warrants 376,500,000 $ Par 12/23/2008 United Bancorporation of Alabama, Inc. Atmore AL Preferred Stock w/ Warrants 10,300,000 $ Par 12/23/2008 MutualFirst Financial, Inc. Muncie IN Preferred Stock w/ Warrants 32,382,000 $ Par 12/23/2008 BCSB Bancorp, Inc. Baltimore MD Preferred Stock w/ Warrants 10,800,000 $ Par 12/23/2008 HMN Financial, Inc. Rochester MN Preferred Stock w/ Warrants 26,000,000 $ Par 12/23/2008 First Community Bank Corporation of America Pinellas Park FL Preferred Stock w/ Warrants 10,685,000 $ Par 12/23/2008 Sterling Bancorp New York NY Preferred Stock w/ Warrants 42,000,000 $ Par 12/23/2008 Intervest Bancshares Corporation New York NY Preferred Stock w/ Warrants 25,000,000 $ Par 

12/23/2008 Peoples Bancorp of North Carolina, Inc. Newton NC Preferred Stock w/ Warrants 25,054,000 $ Par 12/23/2008 Parkvale Financial Corporation Monroeville PA Preferred Stock w/ Warrants 31,762,000 $ Par 12/23/2008 Timberland Bancorp, Inc. Hoquiam WA Preferred Stock w/ Warrants 16,641,000 $ Par 12/23/2008 1st Constitution Bancorp Cranbury NJ Preferred Stock w/ Warrants 12,000,000 $ Par 12/23/2008 Central Jersey Bancorp Oakhurst NJ Preferred Stock w/ Warrants 11,300,000 $ Par 

2 12/23/2008 Western Illinois Bancshares Inc. Monmouth IL Preferred Stock w/ Exercised Warrants 6,855,000 $ Par 2 12/23/2008 Saigon National Bank Westminster CA Preferred Stock w/ Exercised Warrants 1,549,000 $ Par 2 12/23/2008 Capital Pacific Bancorp Portland OR Preferred Stock w/ Exercised Warrants 4,000,000 $ Par 2 12/23/2008 Uwharrie Capital Corp Albemarle NC Preferred Stock w/ Exercised Warrants 10,000,000 $ Par 3 12/23/2008 Mission Valley Bancorp Sun Valley CA Preferred Stock 5,500,000 $ Par 2 12/23/2008 The Little Bank, Incorporated Kinston NC Preferred Stock w/ Exercised Warrants 7,500,000 $ Par 2 12/23/2008 Pacific Commerce Bank Los Angeles CA Preferred Stock w/ Exercised Warrants 4,060,000 $ Par 2 12/23/2008 Citizens Community Bank South Hill VA Preferred Stock w/ Exercised Warrants 3,000,000 $ Par 2 12/23/2008 Seacoast Commerce Bank Chula Vista CA Preferred Stock w/ Exercised Warrants 1,800,000 $ Par 2 12/23/2008 TCNB Financial Corp. Dayton OH Preferred Stock w/ Exercised Warrants 2,000,000 $ Par 2 12/23/2008 Leader Bancorp, Inc. Arlington MA Preferred Stock w/ Exercised Warrants 5,830,000 $ Par 2 12/23/2008 Nicolet Bankshares, Inc. Green Bay WI Preferred Stock w/ Exercised Warrants 14,964,000 $ Par 2 12/23/2008 Magna Bank Memphis TN Preferred Stock w/ Exercised Warrants 13,795,000 $ Par 11/24/2009 4 

2 12/23/2008 Western Community Bancshares, Inc. Palm Desert CA Preferred Stock w/ Exercised Warrants 7,290,000 $ Par 2 12/23/2008 Community Investors Bancorp, Inc. Bucyrus OH Preferred Stock w/ Exercised Warrants 2,600,000 $ Par 2 12/23/2008 Capital Bancorp, Inc. Rockville MD Preferred Stock w/ Exercised Warrants 4,700,000 $ Par 2 12/23/2008 Cache Valley Banking Company Logan UT Preferred Stock w/ Exercised Warrants 4,767,000 $ Par 2 12/23/2008 Citizens Bancorp Nevada City CA Preferred Stock w/ Exercised Warrants 10,400,000 $ Par 2 12/23/2008 Tennessee Valley Financial Holdings, Inc. Oak Ridge TN Preferred Stock w/ Exercised Warrants 3,000,000 $ Par 2 12/23/2008 Pacific Coast Bankers' Bancshares San Francisco CA Preferred Stock w/ Exercised Warrants 11,600,000 $ Par 

12/31/2008 SunTrust Banks, Inc. Atlanta GA Preferred Stock w/ Warrants 1,350,000,000 $ Par 12/31/2008 The PNC Financial Services Group Inc. Pittsburgh PA Preferred Stock w/ Warrants 7,579,200,000 $ Par 

12/31/2008 Fifth Third Bancorp Cincinnati OH Preferred Stock w/ Warrants 3,408,000,000 p $ Par ,,,

12/31/2008 Hampton Roads Bankshares, Inc. Norfolk VA Preferred Stock w/ Warrants 80,347,000 $ Par 

16 12/31/2008 CIT Group Inc. New York NY Contingent Value Rights 2,330,000,000 $ Par 

12/31/2008 West Bancorporation, Inc. West Des Moines IA Preferred Stock w/ Warrants 36,000,000 $ Par 

2 12/31/2008 First Banks, Inc. Clayton MO Preferred Stock w/ Exercised Warrants 295,400,000 $ Par 1 1/9/2009 Bank of America Corporation Charlotte NC Preferred Stock w/ Warrants 10,000,000,000 $ Par 12/9/2009 4 

1/9/2009 FirstMerit Corporation Akron OH Preferred Stock w/ Warrants 125,000,000 $ Par 4/22/2009 4 

1/9/2009 Farmers Capital Bank Corporation Frankfort KY Preferred Stock w/ Warrants 30,000,000 $ Par 
Name of Institution City State Investment Description Investment Amount 

 Pricing 

Mechanism

Capital 

Repayment Date

Footnote Purchase Date 

Seller Purchase Details Capital Rep

1/9/2009 Peapack-Gladstone Financial Corporation Gladstone NJ Preferred Stock w/ Warrants 28,685,000 $ Par 1/9/2009 Commerce National Bank Newport Beach CA Preferred Stock w/ Warrants 5,000,000 $ Par 10/7/2009 4 

1/9/2009 The First Bancorp, Inc. Damariscotta ME Preferred Stock w/ Warrants 25,000,000 $ Par 1/9/2009 Sun Bancorp, Inc. Vineland NJ Preferred Stock w/ Warrants 89,310,000 $ Par 4/8/2009 4 

1/9/2009 Crescent Financial Corporation Cary NC Preferred Stock w/ Warrants 24,900,000 $ Par 1/9/2009 American Express Company New York NY Preferred Stock w/ Warrants 3,388,890,000 $ Par 6/17/2009 4 

1/9/2009 Central Pacific Financial Corp. Honolulu HI Preferred Stock w/ Warrants 135,000,000 $ Par 1/9/2009 Centrue Financial Corporation St. Louis MO Preferred Stock w/ Warrants 32,668,000 $ Par 1/9/2009 Eastern Virginia Bankshares, Inc. Tappahannock VA Preferred Stock w/ Warrants 24,000,000 $ Par 1/9/2009 Colony Bankcorp, Inc. Fitzgerald GA Preferred Stock w/ Warrants 28,000,000 $ Par 1/9/2009 Independent Bank Corp. Rockland MA Preferred Stock w/ Warrants 78,158,000 $ Par 4/22/2009 4 

1/9/2009 Cadence Financial Corporation Starkville MS Preferred Stock w/ Warrants 44,000,000 $ Par 1/9/2009 LCNB Corp. Lebanon OH Preferred Stock w/ Warrants 13,400,000 $ Par 10/21/2009 4 1/9/2009 Center Bancorp, Inc. Union NJ Preferred Stock w/ Warrants 10,000,000 $ Par 1/9/2009 F.N.B. Corporation Hermitage PA Preferred Stock w/ Warrants 100,000,000 $ Par 9/9/2009 4 1/9/2009 C&F Financial Corporation West Point VA Preferred Stock w/ Warrants 20,000,000 $ Par 1/9/2009 North Central Bancshares, Inc. Fort Dodge IA Preferred Stock w/ Warrants 10,200,000 $ Par 1/9/2009 Carolina Bank Holdings, Inc. Greensboro NC Preferred Stock w/ Warrants 16,000,000 $ Par 1/9/2009 First Bancorp Troy NC Preferred Stock w/ Warrants 65,000,000 $ Par 1/9/2009 First Financial Service Corporation Elizabethtown KY Preferred Stock w/ Warrants 20,000,000 $ Par 1/9/2009 Codorus Valley Bancorp, Inc. York PA Preferred Stock w/ Warrants 16,500,000 $ Par 1/9/2009 MidSouth Bancorp, Inc. Lafayette LA Preferred Stock w/ Warrants 20,000,000 $ Par 1/9/2009 First Security Group, Inc. Chattanooga TN Preferred Stock w/ Warrants 33,000,000 $ Par 

1/9/2009 Shore Bancshares, Inc. Easton MD Preferred Stock w/ Warrants 25,000,000 $ Par 4/15/2009 4 

2 1/9/2009 The Queensborough Company Louisville GA Preferred Stock w/ Exercised Warrants 12,000,000 $ Par 2 1/9/2009 American State Bancshares, Inc. Great Bend KS Preferred Stock w/ Exercised Warrants 6,000,000 $ Par 2 1/9/2009 Security California Bancorp Riverside CA Preferred Stock w/ Exercised Warrants 6,815,000 $ Par 2 1/9/2009 Security Business Bancorp San Diego CA Preferred Stock w/ Exercised Warrants 5,803,000 $ Par 2 1/9/2009 Sound Banking Company Morehead City NC Preferred Stock w/ Exercised Warrants 3,070,000 $ Par 3 1/9/2009 Mission Community Bancorp San Luis Obispo CA Preferred Stock 5,116,000 $ Par 2 1/9/2009 Redwood Financial Inc. Redwood Falls MN Preferred Stock w/ Exercised Warrants 2,995,000 $ Par 2 1/9/2009 Surrey Bancorp Mount Airy NC Preferred Stock w/ Exercised Warrants 2,000,000 $ Par 2 1/9/2009 Independence Bank East Greenwich RI Preferred Stock w/ Exercised Warrants 1,065,000 $ Par 2 1/9/2009 Valley Community Bank Pleasanton CA Preferred Stock w/ Exercised Warrants 5,500,000 $ Par 2 1/9/2009 Rising Sun Bancorp Rising Sun MD Preferred Stock w/ Exercised Warrants 5,983,000 $ Par 2 1/9/2009 Community Trust Financial Corporation Ruston LA Preferred Stock w/ Exercised Warrants 24,000,000 $ Par 2 1/9/2009 GrandSouth Bancorporation Greenville SC Preferred Stock w/ Exercised Warrants 9,000,000 $ Par 2 1/9/2009 Texas National Bancorporation Jacksonville TX Preferred Stock w/ Exercised Warrants 3,981,000 $ Par 2 1/9/2009 Congaree Bancshares, Inc. Cayce SC Preferred Stock w/ Exercised Warrants 3,285,000 $ Par 2 1/9/2009 New York Private Bank & Trust Corporation New York NY Preferred Stock w/ Exercised Warrants 267,274,000 $ Par 

1/16/2009 Home Bancshares, Inc. Conway AR Preferred Stock w/ Warrants 50,000,000 $ Par 1/16/2009 Washington Banking Company Oak Harbor WA Preferred Stock w/ Warrants 26,380,000 $ Par 1/16/2009 New Hampshire Thrift Bancshares, Inc. Newport NH Preferred Stock w/ Warrants 10,000,000 $ Par 1/16/2009 Bar Harbor Bankshares Bar Harbor ME Preferred Stock w/ Warrants 18,751,000 $ Par 1/16/2009 Somerset Hills Bancorp Bernardsville NJ Preferred Stock w/ Warrants 7,414,000 $ Par 5/20/2009 4 

1/16/2009 SCBT Financial Corporation Columbia SC Preferred Stock w/ Warrants 64,779,000 $ Par 5/20/2009 4 

1/16/2009 S&T Bancorp Indiana PA Preferred Stock w/ Warrants 108,676,000 $ Par 1/16/2009 ECB Bancorp, Inc. Engelhard NC Preferred Stock w/ Warrants 17,949,000 $ Par 1/16/2009 First BanCorp San Juan PR Preferred Stock w/ Warrants 400,000,000 $ Par 1/16/2009 Texas Capital Bancshares, Inc. Dallas TX Preferred Stock w/ Warrants 75,000,000 $ Par 5/13/2009 4 1/16/2009 Yadkin Valley Financial Corporation Elkin NC Preferred Stock w/ Warrants 36,000,000 y p $ Par , ,

3 1/16/2009 Carver Bancorp, Inc New York NY Preferred Stock 18,980,000 $ Par 

1/16/2009 Citizens & Northern Corporation Wellsboro PA Preferred Stock w/ Warrants 26,440,000 $ Par 1/16/2009 MainSource Financial Group, Inc. Greensburg IN Preferred Stock w/ Warrants 57,000,000 $ Par 1/16/2009 MetroCorp Bancshares, Inc. Houston TX Preferred Stock w/ Warrants 45,000,000 $ Par 1/16/2009 United Bancorp, Inc. Tecumseh MI Preferred Stock w/ Warrants 20,600,000 $ Par 1/16/2009 Old Second Bancorp, Inc. Aurora IL Preferred Stock w/ Warrants 73,000,000 $ Par 1/16/2009 Pulaski Financial Corp Creve Coeur MO Preferred Stock w/ Warrants 32,538,000 $ Par 
Name of Institution City State Investment Description Investment Amount 

 Pricing 

Mechanism

Capital 

Repayment Date

Footnote Purchase Date 

Seller Purchase Details Capital Rep

1/16/2009 OceanFirst Financial Corp. Toms River NJ Preferred Stock w/ Warrants 38,263,000 $ Par 12/30/2009 5 

2 1/16/2009 Community 1st Bank Roseville CA Preferred Stock w/ Exercised Warrants 2,550,000 $ Par 2 1/16/2009 TCB Holding Company, Texas Community Bank The Woodlands TX Preferred Stock w/ Exercised Warrants 11,730,000 $ Par 2 1/16/2009 Centra Financial Holdings, Inc. Morgantown WV Preferred Stock w/ Exercised Warrants 15,000,000 $ Par 3/31/2009 4 

2 1/16/2009 First Bankers Trustshares, Inc. Quincy IL Preferred Stock w/ Exercised Warrants 10,000,000 $ Par 2 1/16/2009 Pacific Coast National Bancorp San Clemente CA Preferred Stock w/ Exercised Warrants 4,120,000 $ Par 3 1/16/2009 Community Bank of the Bay Oakland CA Preferred Stock 1,747,000 $ Par 2 1/16/2009 Redwood Capital Bancorp Eureka CA Preferred Stock w/ Exercised Warrants 3,800,000 $ Par 2 1/16/2009 Syringa Bancorp Boise ID Preferred Stock w/ Exercised Warrants 8,000,000 $ Par 2 1/16/2009 Idaho Bancorp Boise ID Preferred Stock w/ Exercised Warrants 6,900,000 $ Par 2 1/16/2009 Puget Sound Bank Bellevue WA Preferred Stock w/ Exercised Warrants 4,500,000 $ Par 2 1/16/2009 United Financial Banking Companies, Inc. Vienna VA Preferred Stock w/ Exercised Warrants 5,658,000 $ Par 2 1/16/2009 Dickinson Financial Corporation II Kansas City MO Preferred Stock w/ Exercised Warrants 146,053,000 $ Par 2 1/16/2009 The Baraboo Bancorporation Baraboo WI Preferred Stock w/ Exercised Warrants 20,749,000 $ Par 2 1/16/2009 Bank of Commerce Charlotte NC Preferred Stock w/ Exercised Warrants 3,000,000 $ Par 2 1/16/2009 State Bankshares, Inc. Fargo ND Preferred Stock w/ Exercised Warrants 50,000,000 $ Par 8/12/2009 4 

2 1/16/2009 BNCCORP, Inc. Bismarck ND Preferred Stock w/ Exercised Warrants 20, $ Par 093,0002 1/16/2009 First Manitowoc Bancorp, Inc. Manitowoc WI Preferred Stock w/ Exercised Warrants 12,000,000 $ Par 5/27/2009 4 

3 1/16/2009 Southern Bancorp, Inc. Arkadelphia AR Preferred Stock 11,000,000 $ Par 2 1/16/2009 Morrill Bancshares, Inc. Merriam KS Preferred Stock w/ Exercised Warrants 13,000,000 $ Par 2 1/16/2009 Treaty Oak Bancorp, Inc. Austin TX Preferred Stock w/ Exercised Warrants 3,268,000 $ Par 

1/23/2009 1st Source Corporation South Bend IN Preferred Stock w/ Warrants 111,000,000 $ Par 1/23/2009 Princeton National Bancorp, Inc. Princeton IL Preferred Stock w/ Warrants 25,083,000 $ Par 

1/23/2009 AB&T Financial Corporation Gastonia NC Preferred Stock w/ Warrants 3,500,000 $ Par 1/23/2009 First Citizens Banc Corp Sandusky OH Preferred Stock w/ Warrants 23,184,000 $ Par 1/23/2009 WSFS Financial Corporation Wilmington DE Preferred Stock w/ Warrants 52,625,000 $ Par 

2 1/23/2009 Commonwealth Business Bank Los Angeles CA Preferred Stock w/ Exercised Warrants 7,701,000 $ Par 

2, 13 - 

12/4/2009 1/23/2009 Three Shores Bancorporation, Inc. (Seaside National Bank & Trust) Orlando FL Preferred Stock w/ Exercised Warrants 5,677,000 $ Par 

2 1/23/2009 CalWest Bancorp Rancho Santa Margarita CA Preferred Stock w/ Exercised Warrants 4,656,000 $ Par 2 1/23/2009 Fresno First Bank Fresno CA Preferred Stock w/ Exercised Warrants 1,968,000 $ Par 2 1/23/2009 First ULB Corp. Oakland CA Preferred Stock w/ Exercised Warrants 4,900,000 $ Par 4/22/2009 4 

2 1/23/2009 Alarion Financial Services, Inc. Ocala FL Preferred Stock w/ Exercised Warrants 6,514,000 $ Par 2 1/23/2009 Midland States Bancorp, Inc. Effingham IL Preferred Stock w/ Exercised Warrants 10,189,000 $ Par 12/23/2009 4 2 1/23/2009 Moscow Bancshares, Inc. Moscow TN Preferred Stock w/ Exercised Warrants 6,216,000 $ Par 2 1/23/2009 Farmers Bank Windsor VA Preferred Stock w/ Exercised Warrants 8,752,000 $ Par 2 1/23/2009 California Oaks State Bank Thousand Oaks CA Preferred Stock w/ Exercised Warrants 3,300,000 $ Par 2 1/23/2009 Pierce County Bancorp Tacoma WA Preferred Stock w/ Exercised Warrants 6,800,000 $ Par 2 1/23/2009 Calvert Financial Corporation Ashland MO Preferred Stock w/ Exercised Warrants 1,037,000 $ Par 2 1/23/2009 Liberty Bancshares, Inc. Jonesboro AR Preferred Stock w/ Exercised Warrants 57,500,000 $ Par 2 1/23/2009 Crosstown Holding Company Blaine MN Preferred Stock w/ Exercised Warrants 10,650,000 $ Par 

2 1/23/2009 BankFirst Capital Corporation Macon MS Preferred Stock w/ Exercised Warrants 15,500,000 $ Par 2 1/23/2009 Southern Illinois Bancorp, Inc. Carmi IL Preferred Stock w/ Exercised Warrants 5,000,000 $ Par 2 1/23/2009 FPB Financial Corp. Hammond LA Preferred Stock w/ Exercised Warrants 3,240,000 $ Par 12/16/2009 4 

2 1/23/2009 Stonebridge Financial Corp. West Chester PA Preferred Stock w/ Exercised Warrants 10,973,000 $ Par 

1/30/2009 Peoples Bancorp Inc. Marietta OH Preferred Stock w/ Warrants 39,000,000 $ Par 1/30/2009 Anchor BanCorp Wisconsin Inc. Madison WI Preferred Stock w/ Warrants 110,000,000 $ Par 1/30/2009 Parke Bancorp, Inc. Sewell NJ Preferred Stock w/ Warrants 16,288,000 $ Par 1/30/2009 Central Virginia Bankshares, Inc. Powhatan VA Preferred Stock w/ Warrants 11,385,000 $ Par 1/30/2009 Flagstar Bancorp, Inc. Troy MI Preferred Stock w/ Warrants 266,657,000 $ Par 

1/30/2009 Middleburg Financial Corporation Middleburg VA Preferred Stock w/ Warrants $ 22 000 000 Par 12/23/2009 5 1/30/2009 Middleburg Financial Corporation Middleburg VA Preferred Stock w/ Warrants $ 22,000,000 Par 12/23/2009 1/30/2009 Peninsula Bank Holding Co. Palo Alto CA Preferred Stock w/ Warrants 6,000,000 $ Par 1/30/2009 PrivateBancorp, Inc. Chicago IL Preferred Stock w/ Warrants 243,815,000 $ Par 1/30/2009 Central Valley Community Bancorp Fresno CA Preferred Stock w/ Warrants 7,000,000 $ Par 1/30/2009 Plumas Bancorp Quincy CA Preferred Stock w/ Warrants 11,949,000 $ Par 1/30/2009 Stewardship Financial Corporation Midland Park NJ Preferred Stock w/ Warrants 10,000,000 $ Par 1/30/2009 Oak Ridge Financial Services, Inc. Oak Ridge NC Preferred Stock w/ Warrants 7,700,000 $ Par 1/30/2009 First United Corporation Oakland MD Preferred Stock w/ Warrants 30,000,000 $ Par 
Name of Institution City State Investment Description Investment Amount 

 Pricing 

Mechanism

Capital 

Repayment Date

Footnote Purchase Date 

Seller Purchase Details Capital Rep

1/30/2009 Community Partners Bancorp Middletown NJ Preferred Stock w/ Warrants 9,000,000 $ Par 1/30/2009 Guaranty Federal Bancshares, Inc. Springfield MO Preferred Stock w/ Warrants 17,000,000 $ Par 1/30/2009 Annapolis Bancorp, Inc. Annapolis MD Preferred Stock w/ Warrants 8,152,000 $ Par 1/30/2009 DNB Financial Corporation Downingtown PA Preferred Stock w/ Warrants 11,750,000 $ Par 1/30/2009 Firstbank Corporation Alma MI Preferred Stock w/ Warrants 33,000,000 $ Par 

2 1/30/2009 Valley Commerce Bancorp Visalia CA Preferred Stock w/ Exercised Warrants 7,700,000 $ Par 2 1/30/2009 Greer Bancshares Incorporated Greer SC Preferred Stock w/ Exercised Warrants 9,993,000 $ Par 2 1/30/2009 Ojai Community Bank Ojai CA Preferred Stock w/ Exercised Warrants 2,080,000 $ Par 2 1/30/2009 Adbanc, Inc Ogallala NE Preferred Stock w/ Exercised Warrants 12,720,000 $ Par 2 1/30/2009 Beach Business Bank Manhattan Beach CA Preferred Stock w/ Exercised Warrants 6,000,000 $ Par 3 1/30/2009 Legacy Bancorp, Inc. Milwaukee WI Preferred Stock 5,498,000 $ Par 2 1/30/2009 First Southern Bancorp, Inc. Boca Raton FL Preferred Stock w/ Exercised Warrants 10,900,000 $ Par 2 1/30/2009 Country Bank Shares, Inc. Milford NE Preferred Stock w/ Exercised Warrants 7,525,000 $ Par 2 1/30/2009 Katahdin Bankshares Corp. Houlton ME Preferred Stock w/ Exercised Warrants 10,449,000 $ Par 2 1/30/2009 Rogers Bancshares, Inc. Little Rock AR Preferred Stock w/ Exercised Warrants 25,000,000 $ Par 2 1/30/2009 UBT Bancshares, Inc. Marysville KS Preferred Stock w/ Exercised Warrants 8,950,000 $ Par 2 1/30/2009 Bankers' Bank of the West Bancorp, Inc. Denver CO Preferred Stock w/ Exercised Warrants 12,639,000 $ Par 2 1/30/2009 W.T.B. Financial Corporation Spokane WA Preferred Stock w/ Exercised Warrants 110,000,000 $ Par 2 1/30/2009 AMB Financial Corp. Munster IN Preferred Stock w/ Exercised Warrants 3,674,000 $ Par 2 1/30/2009 Goldwater Bank, N.A. Scottsdale AZ Preferred Stock w/ Exercised Warrants 2,568,000 $ Par 2 1/30/2009 Equity Bancshares, Inc. Wichita KS Preferred Stock w/ Exercised Warrants 8,750,000 $ Par 

2, 13 - 

10/30/2009 1/30/2009 WashingtonFirst Bankshares, Inc. (WashingtonFirst Bank) Reston VA Preferred Stock w/ Exercised Warrants 6,633,000 $ Par 

2 1/30/2009 Central Bancshares, Inc. Houston TX Preferred Stock w/ Exercised Warrants 5,800,000 1/30/2009 C t lB h I H t TX P f d St k / E i d W t $ Par 5 800 000 P

2 1/30/2009 Hilltop Community Bancorp, Inc. Summit NJ Preferred Stock w/ Exercised Warrants 4,000,000 $ Par 2 1/30/2009 Northway Financial, Inc. Berlin NH Preferred Stock w/ Exercised Warrants 10,000,000 $ Par 2 1/30/2009 Monument Bank Bethesda MD Preferred Stock w/ Exercised Warrants 4,734,000 $ Par 2 1/30/2009 Metro City Bank Doraville GA Preferred Stock w/ Exercised Warrants 7,700,000 $ Par 2 1/30/2009 F & M Bancshares, Inc. Trezevant TN Preferred Stock w/ Exercised Warrants 4,609,000 $ Par 2 1/30/2009 First Resource Bank Exton PA Preferred Stock w/ Exercised Warrants 2,600,000 $ Par 

2/6/2009 MidWestOne Financial Group, Inc. Iowa City IA Preferred Stock w/ Warrants 16,000,000 $ Par 

2/6/2009 Lakeland Bancorp, Inc. Oak Ridge NJ Preferred Stock w/ Warrants 59,000,000 $ Par 2/6/2009 Monarch Community Bancorp, Inc. Coldwater MI Preferred Stock w/ Warrants 6,785,000 $ Par 2/6/2009 The First Bancshares, Inc. Hattiesburg MS Preferred Stock w/ Warrants 5,000,000 $ Par 2/6/2009 Carolina Trust Bank Lincolnton NC Preferred Stock w/ Warrants 4,000,000 $ Par 2/6/2009 Alaska Pacific Bancshares, Inc. Juneau AK Preferred Stock w/ Warrants 4,781,000 $ Par 

3 2/6/2009 PGB Holdings, Inc. Chicago IL Preferred Stock 3,000,000 $ Par 2 2/6/2009 The Freeport State Bank Harper KS Preferred Stock w/ Exercised Warrants 301,000 $ Par 2 2/6/2009 Stockmens Financial Corporation Rapid City SD Preferred Stock w/ Exercised Warrants 15,568,000 $ Par 2 2/6/2009 US Metro Bank Garden Grove CA Preferred Stock w/ Exercised Warrants 2,861,000 $ Par 2 2/6/2009 First Express of Nebraska, Inc. Gering NE Preferred Stock w/ Exercised Warrants 5,000,000 $ Par 2 2/6/2009 Mercantile Capital Corp. Boston MA Preferred Stock w/ Exercised Warrants 3,500,000 $ Par 2 2/6/2009 Citizens Commerce Bancshares, Inc. Versailles KY Preferred Stock w/ Exercised Warrants 6,300,000 $ Par 3 2/6/2009 Liberty Financial Services, Inc. New Orleans LA Preferred Stock 5,645,000 $ Par 2 2/6/2009 Lone Star Bank Houston TX Preferred Stock w/ Exercised Warrants 3,072,000 $ Par 2 2/6/2009 First Market Bank, FSB Richmond VA Preferred Stock w/ Exercised Warrants 33,900,000 $ Par 2 2/6/2009 Banner County Ban Corporation Harrisburg NE Preferred Stock w/ Exercised Warrants 795,000 $ Par 2 2/6/2009 Centrix Bank & Trust Bedford NH Preferred Stock w/ Exercised Warrants 7,500,000 $ Par 2 2/6/2009 Todd Bancshares, Inc. Hopkinsville KY Preferred Stock w/ Exercised Warrants 4,000,000 $ Par 2 2/6/2009 Georgia Commerce Bancshares, Inc. Atlanta GA Preferred Stock w/ Exercised Warrants 8,700,000 $ Par 2 2/6/2009 First Bank of Charleston, Inc. Charleston WV Preferred Stock w/ Exercised Warrants 3,345,000 $ Par 

2 2/6/2009 F & M Financial Corporation Salisbur 2/6/2009 F & M Fi i l C ti S li b y NC Preferred Stock w/ Exercised Warrants 17,000,000 P f d St k / E i d W t $ Par $ 17 000 000 P

2 2/6/2009 The Bank of Currituck Moyock NC Preferred Stock w/ Exercised Warrants 4,021,000 $ Par 2 2/6/2009 CedarStone Bank Lebanon TN Preferred Stock w/ Exercised Warrants 3,564,000 $ Par 2 2/6/2009 Community Holding Company of Florida, Inc. Miramar Beach FL Preferred Stock w/ Exercised Warrants 1,050,000 $ Par 2 2/6/2009 Hyperion Bank Philadelphia PA Preferred Stock w/ Exercised Warrants 1,552,000 $ Par 2 2/6/2009 Pascack Community Bank Westwood NJ Preferred Stock w/ Exercised Warrants 3,756,000 $ Par 2 2/6/2009 First Western Financial, Inc. Denver CO Preferred Stock w/ Exercised Warrants 8,559,000 $ Par 

2/13/2009 QCR Holdings, Inc. Moline IL Preferred Stock w/ Warrants 38,237,000 $ Par 
Name of Institution City State Investment Description Investment Amount 

 Pricing 

Mechanism

Capital 

Repayment Date

Footnote Purchase Date 

Seller Purchase Details Capital Rep

9/2/2009 4 

11/18/2009 4 

2/13/2009 The Bank of Kentucky Financial Corporation Crestview Hills KY Preferred Stock w/ Warrants 34,000,000 $ Par 2/13/2009 PremierWest Bancorp Medford OR Preferred Stock w/ Warrants 41,400,000 $ Par 2/13/2009 Carrollton Bancorp Baltimore MD Preferred Stock w/ Warrants 9,201,000 $ Par 2/13/2009 FNB United Corp. Asheboro NC Preferred Stock w/ Warrants 51,500,000 $ Par 

2 2/13/2009 First Menasha Bancshares, Inc. Neenah WI Preferred Stock w/ Exercised Warrants 4,797,000 $ Par 2 2/13/2009 1st Enterprise Bank Los Angeles CA Preferred Stock w/ Exercised Warrants 4,400,000 $ Par 2 2/13/2009 DeSoto County Bank Horn Lake MS Preferred Stock w/ Exercised Warrants 1,173,000 $ Par 2 2/13/2009 Security Bancshares of Pulaski County, Inc. Waynesville MO Preferred Stock w/ Exercised Warrants 2,152,000 $ Par 2 2/13/2009 State Capital Corporation Greenwood MS Preferred Stock w/ Exercised Warrants 15,000,000 $ Par 2 2/13/2009 BankGreenville Greenville SC Preferred Stock w/ Exercised Warrants 1,000,000 $ Par 2 2/13/2009 Corning Savings and Loan Association Corning AR Preferred Stock w/ Exercised Warrants 638,000 $ Par 2 2/13/2009 Financial Security Corporation Basin WY Preferred Stock w/ Exercised Warrants 5,000,000 $ Par 2 2/13/2009 ColoEast Bankshares, Inc. Lamar CO Preferred Stock w/ Exercised Warrants 10,000,000 $ Par 2 2/13/2009 Santa Clara Valley Bank, N.A. Santa Paula CA Preferred Stock w/ Exercised Warrants 2,900,000 $ Par 2 2/13/2009 Reliance Bancshares, Inc. Frontenac MO Preferred Stock w/ Exercised Warrants 40,000,000 $ Par 2 2/13/2009 Regional Bankshares, Inc. Hartsville SC Preferred Stock w/ Exercised Warrants 1,500,000 $ Par 2 2/13/2009 Peoples Bancorp Lynden WA Preferred Stock w/ Exercised Warrants 18,000,000 $ Par 2 2/13/2009 First Choice Bank Cerritos CA Preferred Stock w/ Exercised Warrants 2,200,000 $ Par 2 2/13/2009 Gregg Bancshares, Inc. Ozark MO Preferred Stock w/ Exercised Warrants 825,000 $ Par 2 2/13/2009 Hometown Bancshares, Inc. Corbin KY Preferred Stock w/ Exercised Warrants 1,900,000 $ Par 

2 2/13/2009 Mid t R i l B I F t MO P f d St k / E i d W t $ 700 000 P 11/10/2009 4 

2/13/2009 Westamerica Bancorporation San Rafael CA Preferred Stock w/ Warrants 83,726,000 $ Par 

2 2/13/2009 Midwest Regional Bancorp, Inc. Festus MO Preferred Stock w/ Exercised Warrants 700,000 $ Par 11/10/2009 4 

2 2/13/2009 Bern Bancshares, Inc. Bern KS Preferred Stock w/ Exercised Warrants 985,000 $ Par 2 2/13/2009 Northwest Bancorporation, Inc. Spokane WA Preferred Stock w/ Exercised Warrants 10,500,000 $ Par 2 2/13/2009 Liberty Bancshares, Inc. Springfield MO Preferred Stock w/ Exercised Warrants 21,900,000 $ Par 2 2/13/2009 F&M Financial Corporation Clarksville TN Preferred Stock w/ Exercised Warrants 17,243,000 $ Par 2 2/13/2009 Meridian Bank Devon PA Preferred Stock w/ Exercised Warrants 6,200,000 $ Par 2 2/13/2009 Northwest Commercial Bank Lakewood WA Preferred Stock w/ Exercised Warrants 1,992,000 $ Par 

2/20/2009 Royal Bancshares of Pennsylvania, Inc. Narberth PA Preferred Stock w/ Warrants 30,407,000 $ Par 2/20/2009 First Merchants Corporation Muncie IN Preferred Stock w/ Warrants 116,000,000 $ Par 2/20/2009 Northern States Financial Corporation Waukegan IL Preferred Stock w/ Warrants 17,211,000 $ Par 

2 2/20/2009 Sonoma Valley Bancorp Sonoma CA Preferred Stock w/ Exercised Warrants 8,653,000 $ Par 2 2/20/2009 Guaranty Bancorp, Inc. Woodsville NH Preferred Stock w/ Exercised Warrants 6,920,000 $ Par 2 2/20/2009 The Private Bank of California Los Angeles CA Preferred Stock w/ Exercised Warrants 5,450,000 $ Par 2 2/20/2009 Lafayette Bancorp, Inc. Oxford MS Preferred Stock w/ Exercised Warrants 1,998,000 $ Par 2 2/20/2009 Liberty Shares, Inc. Hinesville GA Preferred Stock w/ Exercised Warrants 17,280,000 $ Par 2 2/20/2009 White River Bancshares Company Fayetteville AR Preferred Stock w/ Exercised Warrants 16,800,000 $ Par 2 2/20/2009 United American Bank San Mateo CA Preferred Stock w/ Exercised Warrants 8,700,000 $ Par 2 2/20/2009 Crazy Woman Creek Bancorp, Inc. Buffalo WY Preferred Stock w/ Exercised Warrants 3,100,000 $ Par 2 2/20/2009 First Priority Financial Corp. Malvern PA Preferred Stock w/ Exercised Warrants 4,579,000 $ Par 2 2/20/2009 Mid-Wisconsin Financial Services, Inc. Medford WI Preferred Stock w/ Exercised Warrants 10,000,000 $ Par 2 2/20/2009 Market Bancorporation, Inc. New Market MN Preferred Stock w/ Exercised Warrants 2,060,000 $ Par 2 2/20/2009 Hometown Bancorp of Alabama, Inc. Oneonta AL Preferred Stock w/ Exercised Warrants 3,250,000 $ Par 2 2/20/2009 Security State Bancshares, Inc. Charleston MO Preferred Stock w/ Exercised Warrants 12,500,000 $ Par 2 2/20/2009 CBB Bancorp Cartersville GA Preferred Stock w/ Exercised Warrants 2,644,000 $ Par 2 2/20/2009 BancPlus Corporation Ridgeland MS Preferred Stock w/ Exercised Warrants 48,000,000 $ Par 2 2/20/2009 Central Community Corporation Temple TX Preferred Stock w/ Exercised Warrants 22,000,000 $ Par 2 2/20/2009 First BancTrust Corporation Paris IL Preferred Stock w/ Exercised Warrants 7,350,000 $ Par 2 2/20/2009 Premier Service Bank Riverside CA Preferred Stock w/ Exercised Warrants 4,000,000 $ Par 

2 2/20/2009 Florida Business BancGroup, Inc. Tampa FL Preferred Stock w/ Exercised Warrants 9,495,000 $ Par 2 2/20/2009 Hamilton State Bancshares Hoschton GA Preferred Stock w/ Exercised Warrants 7,000,000 $ Par 

2/27/2009 Lakeland Financial Corporation Warsaw IN Preferred Stock w/ Warrants 56,044,000 $ Par 2/27/2009 First M&F Corporation Kosciusko MS Preferred Stock w/ Warrants 30,000,000 $ Par 2/27/2009 Southern First Bancshares, Inc. Greenville SC Preferred Stock w/ Warrants 17,299,000 $ Par 2/27/2009 Integra Bank Corporation Evansville IN Preferred Stock w/ Warrants 83,586,000 $ Par 

2 2/27/2009 Community First Inc. Columbia TN Preferred Stock w/ Exercised Warrants 17,806,000 $ Par 2 2/27/2009 BNC Financial Group, Inc. New Canaan CT Preferred Stock w/ Exercised Warrants 4,797,000 $ Par 
Name of Institution City State Investment Description Investment Amount 

 Pricing 

Mechanism

Capital 

Repayment Date

Footnote Purchase Date 

Seller Purchase Details Capital Rep

2 2/27/2009 California Bank of Commerce Lafayette CA Preferred Stock w/ Exercised Warrants 4,000,000 $ Par 2 2/27/2009 Columbine Capital Corp. Buena Vista CO Preferred Stock w/ Exercised Warrants 2,260,000 $ Par 2 2/27/2009 National Bancshares, Inc. Bettendorf IA Preferred Stock w/ Exercised Warrants 24,664,000 $ Par 2 2/27/2009 First State Bank of Mobeetie Mobeetie TX Preferred Stock w/ Exercised Warrants 731,000 $ Par 2 2/27/2009 Ridgestone Financial Services, Inc. Brookfield WI Preferred Stock w/ Exercised Warrants 10,900,000 $ Par 2 2/27/2009 Community Business Bank West Sacramento CA Preferred Stock w/ Exercised Warrants 3,976,000 $ Par 2 2/27/2009 D.L. Evans Bancorp Burley ID Preferred Stock w/ Exercised Warrants 19,891,000 $ Par 2 2/27/2009 TriState Capital Holdings, Inc. Pittsburgh PA Preferred Stock w/ Exercised Warrants 23,000,000 $ Par 2 2/27/2009 Green City Bancshares, Inc. Green City MO Preferred Stock w/ Exercised Warrants 651,000 $ Par 2 2/27/2009 First Gothenburg Bancshares, Inc. Gothenburg NE Preferred Stock w/ Exercised Warrants 7,570,000 $ Par 2 2/27/2009 Green Circle Investments, Inc. Clive IA Preferred Stock w/ Exercised Warrants 2, $ Par 400,0002 2/27/2009 Private Bancorporation, Inc. Minneapolis MN Preferred Stock w/ Exercised Warrants 4,960,000 $ Par 2 2/27/2009 Regent Capital Corporation Nowata OK Preferred Stock w/ Exercised Warrants 2,655,000 $ Par 2 2/27/2009 Central Bancorp, Inc. Garland TX Preferred Stock w/ Exercised Warrants 22,500,000 $ Par 2 2/27/2009 Medallion Bank Salt Lake City UT Preferred Stock w/ Exercised Warrants 11,800,000 $ Par 2 2/27/2009 PSB Financial Corporation Many LA Preferred Stock w/ Exercised Warrants 9,270,000 $ Par 2 2/27/2009 Avenue Financial Holdings, Inc. Nashville TN Preferred Stock w/ Exercised Warrants 7,400,000 $ Par 2 2/27/2009 Howard Bancorp, Inc. Ellicott City MD Preferred Stock w/ Exercised Warrants 5,983,000 $ Par 2 2/27/2009 FNB Bancorp South San Francisco CA Preferred Stock w/ Exercised Warrants 12,000,000 $ Par 

2, 13 - 

12/4/2009 2/27/2009 The Victory Bancorp, Inc. (The Victory Bank) Limerick PA Preferred Stock w/ Exercised Warrants 541,000 $ Par 

2 2/27/2009 Catskill Hudson Bancorp, Inc Rock Hill NY Preferred Stock w/ Exercised Warrants 3,000,000 $ Par 2 2/27/2009 Midtown Bank & Trust Company Atlanta GA Preferred Stock w/ Exercised Warrants 5,222,000 $ Par 

3/6/2009 3/6/2009 HCSB Financial Corporation Loris SC Preferred Stock w/ Warrants 12,895,000 HCSB Fi i l C ti L i SC P f d St k / W t $ Par $ 12 895 000 P3/6/2009 First Busey Corporation Urbana IL Preferred Stock w/ Warrants 100,000,000 $ Par 3/6/2009 First Federal Bancshares of Arkansas, Inc. Harrison AR Preferred Stock w/ Warrants 16,500,000 $ Par 

3 3/6/2009 Citizens Bancshares Corporation Atlanta GA Preferred Stock 7,462,000 $ Par 2 3/6/2009 ICB Financial Ontario CA Preferred Stock w/ Exercised Warrants 6,000,000 $ Par 2 3/6/2009 First Texas BHC, Inc. Fort Worth TX Preferred Stock w/ Exercised Warrants 13,533,000 $ Par 2 3/6/2009 Farmers & Merchants Bancshares, Inc. Houston TX Preferred Stock w/ Exercised Warrants 11,000,000 $ Par 2 3/6/2009 Blue Ridge Bancshares, Inc. Independence MO Preferred Stock w/ Exercised Warrants 12,000,000 $ Par 2 3/6/2009 First Reliance Bancshares, Inc. Florence SC Preferred Stock w/ Exercised Warrants 15,349,000 $ Par 2 3/6/2009 Merchants and Planters Bancshares, Inc. Toone TN Preferred Stock w/ Exercised Warrants 1,881,000 $ Par 2 3/6/2009 First Southwest Bancorporation, Inc. Alamosa CO Preferred Stock w/ Exercised Warrants 5,500,000 $ Par 2 3/6/2009 Germantown Capital Corporation, Inc. Germantown TN Preferred Stock w/ Exercised Warrants 4,967,000 $ Par 2 3/6/2009 BOH Holdings, Inc. Houston TX Preferred Stock w/ Exercised Warrants 10,000,000 $ Par 2 3/6/2009 AmeriBank Holding Company Collinsville OK Preferred Stock w/ Exercised Warrants 2,492,000 $ Par 2 3/6/2009 Highlands Independent Bancshares, Inc. Sebring FL Preferred Stock w/ Exercised Warrants 6,700,000 $ Par 2 3/6/2009 Pinnacle Bank Holding Company, Inc. Orange City FL Preferred Stock w/ Exercised Warrants 4,389,000 $ Par 2 3/6/2009 Blue River Bancshares, Inc. Shelbyville IN Preferred Stock w/ Exercised Warrants 5,000,000 $ Par 2 3/6/2009 Marine Bank & Trust Company Vero Beach FL Preferred Stock w/ Exercised Warrants 3,000,000 $ Par 2 3/6/2009 Community Bancshares of Kansas, Inc. Goff KS Preferred Stock w/ Exercised Warrants 500,000 $ Par 2 3/6/2009 Regent Bancorp, Inc. Davie FL Preferred Stock w/ Exercised Warrants 9,982,000 $ Par 2 3/6/2009 Park Bancorporation, Inc. Madison WI Preferred Stock w/ Exercised Warrants 23,200,000 $ Par 2 3/6/2009 PeoplesSouth Bancshares, Inc. Colquitt GA Preferred Stock w/ Exercised Warrants 12,325,000 $ Par 

3/13/2009 First Place Financial Corp. Warren OH Preferred Stock w/ Warrants 72,927,000 $ Par 3/13/2009 Salisbury Bancorp, Inc. Lakeville CT Preferred Stock w/ Warrants 8,816,000 $ Par 3/13/2009 First Northern Community Bancorp Dixon CA Preferred Stock w/ Warrants 17,390,000 $ Par 3/13/2009 Discover Financial Services Riverwoods IL Preferred Stock w/ Warrants 1,224,558,000 $ Par 3/13/2009 Provident Community Bancshares, Inc. Rock Hill SC Preferred Stock w/ Warrants 9,266,000 $ Par 

3 3/13/2009 First American International Corp. Brooklyn NY Preferred Stock 17,000,000 $ Par 

2 3/13/2009 BancIndependent, Inc. Sheffield AL Preferred Stock w/ Exercised Warrants 21,100,000 3/13/2009 B Id d I Sh ffi ld AL P f dS k /E i dW $ Par 21 100 000 P2 3/13/2009 Haviland Bancshares, Inc. Haviland KS Preferred Stock w/ Exercised Warrants 425,000 $ Par 2 3/13/2009 1st United Bancorp, Inc. Boca Raton FL Preferred Stock w/ Exercised Warrants 10,000,000 $ Par 11/18/2009 4 

2 3/13/2009 Madison Financial Corporation Richmond KY Preferred Stock w/ Exercised Warrants 3,370,000 $ Par 2 3/13/2009 First National Corporation Strasburg VA Preferred Stock w/ Exercised Warrants 13,900,000 $ Par 2 3/13/2009 St. Johns Bancshares, Inc. St. Louis MO Preferred Stock w/ Exercised Warrants 3,000,000 $ Par 2 3/13/2009 Blackhawk Bancorp, Inc. Beloit WI Preferred Stock w/ Exercised Warrants 10,000,000 $ Par 
Name of Institution City State Investment Description Investment Amount 

 Pricing 

Mechanism

Capital 

Repayment Date

Footnote Purchase Date 

Seller Purchase Details Capital Rep

2, 3a - 

11/13/2009 3/13/2009 IBW Financial Corporation Washington DC Preferred Stock 6,000,000 $ Par 

2 3/13/2009 Butler Point, Inc. Catlin IL Preferred Stock w/ Exercised Warrants 607,000 $ Par 2 3/13/2009 Bank of George Las Vegas NV Preferred Stock w/ Exercised Warrants 2,672,000 $ Par 2 3/13/2009 Moneytree Corporation Lenoir City TN Preferred Stock w/ Exercised Warrants 9,516,000 $ Par 2 3/13/2009 Sovereign Bancshares, Inc. Dallas TX Preferred Stock w/ Exercised Warrants 18,215,000 $ Par 2 3/13/2009 First Intercontinental Bank Doraville GA Preferred Stock w/ Exercised Warrants 6,398,000 $ Par 

3/20/2009 Heritage Oaks Bancorp Paso Robles CA Preferred Stock w/ Warrants 21,000,000 $ Par 

2 3/20/2009 Community First Bancshares Inc. Union City TN Preferred Stock w/ Exercised Warrants 20,000,000 $ Par 2 3/20/2009 First NBC Bank Holding Company New Orleans LA Preferred Stock w/ Exercised Warrants 17,836,000 $ Par 2 3/20/2009 First Colebrook Bancorp, Inc. Colebrook NH Preferred Stock w/ Exercised Warrants 4,500,000 $ Par 2 3/20/2009 Kirksville Bancorp, Inc. Kirksville MO Preferred Stock w/ Exercised Warrants 470,000 $ Par 2 3/20/2009 Peoples Bancshares of TN, Inc Madisonville TN Preferred Stock w/ Exercised Warrants 3,900,000 $ Par 2 3/20/2009 Premier Bank Holding Company Tallahassee FL Preferred Stock w/ Exercised Warrants 9,500,000 $ Par 2 3/20/2009 Citizens Bank & Trust Company Covington LA Preferred Stock w/ Exercised Warrants 2,400,000 $ Par 2 3/20/2009 Farmers & Merchants Financial Corporation Argonia KS Preferred Stock w/ Exercised Warrants 442,000 $ Par 2 3/20/2009 Farmers State Bankshares, Inc. Holton KS Preferred Stock w/ Exercised Warrants 700,000 $ Par 2 3/27/2009 SBT Bancorp, Inc. Simsbury CT Preferred Stock w/ Exercised Warrants 4,000,000 $ Par 2 3/27/2009 CSRA Bank Corp. Wrens GA Preferred Stock w/ Exercised Warrants 2,400,000 $ Par 2 3/27/2009 Trinity Capital Corporation Los Alamos NM Preferred Stock w/ Exercised Warrants 35,539,000 $ Par 2 3/27/2009 Clover Community Bankshares, Inc. Clover SC Preferred Stock w/ Exercised Warrants 3,000,000 $ Par 2 3/27/2009 Pathway Bancorp Cairo NE Preferred Stock w/ Exercised Warrants 3,727,000 $ Par 2 3/27/2009 Colonial American Bank West Conshohocken PA Preferred Stock w/ Exercised Warrants 574,000 $ Par 

2 3/27/2009 MS Financial, Inc. Kingwood TX Preferred Stock w/ Exercised Warrants 7,723,000 $ Par 2 3/27/2009 Triad Bancorp, Inc. Frontenac MO Preferred Stock w/ Exercised Warrants 3,700,000 $ Par 2 3/27/2009 Alpine Banks of Colorado Glenwood Springs CO Preferred Stock w/ Exercised Warrants 70,000,000 $ Par 2 3/27/2009 Naples Bancorp, Inc. Naples FL Preferred Stock w/ Exercised Warrants 4,000,000 $ Par 2 3/27/2009 CBS Banc-Corp. Russellville AL Preferred Stock w/ Exercised Warrants 24,300,000 $ Par 2 3/27/2009 IBT Bancorp, Inc. Irving TX Preferred Stock w/ Exercised Warrants 2,295,000 $ Par 2 3/27/2009 Spirit BankCorp, Inc. Bristow OK Preferred Stock w/ Exercised Warrants 30,000,000 $ Par 2 3/27/2009 Maryland Financial Bank Towson MD Preferred Stock w/ Exercised Warrants 1,700,000 $ Par 

4/3/2009 First Capital Bancorp, Inc. Glen Ellen VA Preferred Stock w/ Warrants 10,958,000 $ Par 

2, 3 4/3/2009 Tri-State Bank of Memphis Memphis TN Preferred Stock 2,795,000 $ Par 

2 4/3/2009 Fortune Financial Corporation Arnold MO Preferred Stock w/ Exercised Warrants 3,100,000 $ Par 2 4/3/2009 BancStar, Inc. Festus MO Preferred Stock w/ Exercised Warrants 8,600,000 $ Par 2 4/3/2009 Titonka Bancshares, Inc Titonka IA Preferred Stock w/ Exercised Warrants 2,117,000 $ Par 2 4/3/2009 Millennium Bancorp, Inc. Edwards CO Preferred Stock w/ Exercised Warrants 7,260,000 $ Par 2 4/3/2009 TriSummit Bank Kingsport TN Preferred Stock w/ Exercised Warrants 2,765,000 $ Par 2 4/3/2009 Prairie Star Bancshares, Inc. Olathe KS Preferred Stock w/ Exercised Warrants 2,800,000 $ Par 2 4/3/2009 Community First Bancshares, Inc. Harrison AR Preferred Stock w/ Exercised Warrants 12,725,000 $ Par 2 4/3/2009 BCB Holding Company, Inc. Theodore AL Preferred Stock w/ Exercised Warrants 1,706,000 $ Par 3 4/10/2009 City National Bancshares Corporation Newark NJ Preferred Stock 9,439,000 $ Par 2 4/10/2009 First Business Bank, N.A. San Diego CA Preferred Stock w/ Exercised Warrants 2,211,000 $ Par 2 4/10/2009 SV Financial, Inc. Sterling IL Preferred Stock w/ Exercised Warrants 4,000,000 $ Par 2 4/10/2009 Capital Commerce Bancorp, Inc. Milwaukee WI Preferred Stock w/ Exercised Warrants 5,100,000 $ Par 2 4/10/2009 Metropolitan Capital Bancorp, Inc. Chicago IL Preferred Stock w/ Exercised Warrants 2,040,000 $ Par 

4/17/2009 Bank of the Carolinas Corporation Mocksville NC Preferred Stock w/ Warrants 13,179,000 $ Par 

2 4/17/2009 Penn Liberty Financial Corp. Wayne PA Preferred Stock w/ Exercised Warrants 9,960,000 $ Par 2 4/17/2009 Tifton Banking Company Tifton GA Preferred Stock w/ Exercised Warrants 3,800,000 $ Par 2 4/17/2009 Patterson Bancshares, Inc Patterson LA Preferred Stock w/ Exercised Warrants 3,690,000 $ Par 2 4/17/2009 4/17/2009 BNB Financial Services Corporation BNB Financial Services Corporation New York New York NY Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants $ 7 500 000 7,500,000 Par

2 4/17/2009 Omega Capital Corp. Lakewood CO Preferred Stock w/ Exercised Warrants 2,816,000 $ Par 

4/24/2009 Mackinac Financial Corporation Manistique MI Preferred Stock w/ Warrants 11,000,000 $ Par 

2 4/24/2009 Birmingham Bloomfield Bancshares, Inc Birmingham MI Preferred Stock w/ Exercised Warrants 1,635,000 $ Par 2 4/24/2009 Vision Bank - Texas Richardson TX Preferred Stock w/ Exercised Warrants 1,500,000 $ Par 2 4/24/2009 Oregon Bancorp, Inc. Salem OR Preferred Stock w/ Exercised Warrants 3,216,000 $ Par 2 4/24/2009 Peoples Bancorporation, Inc. Easley SC Preferred Stock w/ Exercised Warrants 12,660,000 $ Par 2 4/24/2009 Indiana Bank Corp. Dana IN Preferred Stock w/ Exercised Warrants 1,312,000 $ Par 
Name of Institution City State Investment Description Investment Amount 

 Pricing 

Mechanism

Capital 

Repayment Date

Footnote Purchase Date 

Seller Purchase Details Capital Rep

2 4/24/2009 Business Bancshares, Inc. Clayton MO Preferred Stock w/ Exercised Warrants 15,000,000 $ Par 2 4/24/2009 Standard Bancshares, Inc. Hickory Hills IL Preferred Stock w/ Exercised Warrants 60,000,000 $ Par 2 4/24/2009 York Traditions Bank York PA Preferred Stock w/ Exercised Warrants 4,871,000 $ Par 2 4/24/2009 Grand Capital Corporation Tulsa OK Preferred Stock w/ Exercised Warrants 4,000,000 $ Par 2 4/24/2009 Allied First Bancorp, Inc. Oswego IL Preferred Stock w/ Exercised Warrants 3,652,000 $ Par 8 4/24/2009 Frontier Bancshares, Inc. Austin TX Subordinated Debentures w/ Exercised Warrants $ Par 11/24/2009 

3,000,000 

5/1/2009 Village Bank and Trust Financial Corp Midlothian VA Preferred Stock w/ Warrants 14,738,000 $ Par 

2 5/1/2009 CenterBank Milford OH Preferred Stock w/ Exercised Warrants 2,250,000 $ Par 2 5/1/2009 Georgia Primary Bank Atlanta GA Preferred Stock w/ Exercised Warrants 4,500,000 $ Par 2 5/1/2009 Union Bank & Trust Company Oxford NC Preferred Stock w/ Exercised Warrants 3,194,000 $ Par 2 5/1/2009 HPK Financial Corporation Chicago IL Preferred Stock w/ Exercised Warrants 4,000,000 $ Par 8 5/1/2009 OSB Financial Services, Inc. Orange TX Subordinated Debentures w/ Exercised Warrants $ Par 6,100,000

8 5/1/2009 Security State Bank Holding-Company Jamestown ND Subordinated Debentures w/ Exercised Warrants $ Par 10,750,000

2 5/8/2009 Highlands State Bank Vernon NJ Preferred Stock w/ Exercised Warrants 3,091,000 $ Par 2 5/8/2009 One Georgia Bank Atlanta GA Preferred Stock w/ Exercised Warrants 5,500,000 $ Par 2 5/8/2009 Gateway Bancshares, Inc. Ringgold GA Preferred Stock w/ Exercised Warrants 6,000,000 $ Par 8 5/8/2009 Freeport Bancshares, Inc. Freeport IL Subordinated Debentures w/ Exercised Warrants $ Par 3,000,000

8 5/8/2009 Investors Financial Corporation of Pettis County, Inc. Sedalia MO Subordinated Debentures w/ Exercised Warrants $ Par 4,000,0008 5/8/2009 Sword Financial Corporation Horicon WI Subordinated Debentures w/ Exercised Warrants p $ Par 13,644,000 , 

3, 8 5/8/2009 Premier Bancorp, Inc. Wilmette IL Subordinated Debentures 6,784,000 $ Par 

5/15/2009 Mercantile Bank Corporation Grand Rapids MI Preferred Stock w/ Warrants 21,000,000 $ Par 

2 5/15/2009 Northern State Bank Closter NJ Preferred Stock w/ Exercised Warrants 1,341,000 $ Par 2 5/15/2009 Western Reserve Bancorp, Inc Medina OH Preferred Stock w/ Exercised Warrants 4,700,000 $ Par 2 5/15/2009 Community Financial Shares, Inc. Glen Ellyn IL Preferred Stock w/ Exercised Warrants 6,970,000 $ Par 2 5/15/2009 Worthington Financial Holdings, Inc. Huntsville AL Preferred Stock w/ Exercised Warrants 2,720,000 $ Par 2 5/15/2009 First Community Bancshares, Inc Overland Park KS Preferred Stock w/ Exercised Warrants 14,800,000 $ Par 2 5/15/2009 Southern Heritage Bancshares, Inc. Cleveland TN Preferred Stock w/ Exercised Warrants 4,862,000 $ Par 2 5/15/2009 Foresight Financial Group, Inc. Rockford IL Preferred Stock w/ Exercised Warrants 15,000,000 $ Par 

3, 8 5/15/2009 IBC Bancorp, Inc. Chicago IL Subordinated Debentures 4,205,000 $ Par 

8 5/15/2009 Boscobel Bancorp, Inc Boscobel WI Subordinated Debentures w/ Exercised Warrants $ Par 5,586,000

8 5/15/2009 Brogan Bankshares, Inc. Kaukauna WI Subordinated Debentures w/ Exercised Warrants $ Par 2,400,000

8 5/15/2009 Riverside Bancshares, Inc. Little Rock AR Subordinated Debentures w/ Exercised Warrants $ Par 1,100,000

8 5/15/2009 Deerfield Financial Corporation Deerfield WI Subordinated Debentures w/ Exercised Warrants $ Par 2,639,000

8 5/15/2009 Market Street Bancshares, Inc. Mt. Vernon IL Subordinated Debentures w/ Exercised Warrants $ Par 20,300,000

2 5/22/2009 The Landrum Company Columbia MO Preferred Stock w/ Exercised Warrants 15,000,000 $ Par 2 5/22/2009 First Advantage Bancshares Inc. Coon Rapids MN Preferred Stock w/ Exercised Warrants 1,177,000 $ Par 2 5/22/2009 Fort Lee Federal Savings Bank Fort Lee NJ Preferred Stock w/ Exercised Warrants 1,300,000 $ Par 2 5/22/2009 Blackridge Financial, Inc. Fargo ND Preferred Stock w/ Exercised Warrants 5,000,000 $ Par 2 5/22/2009 Illinois State Bancorp, Inc. Chicago IL Preferred Stock w/ Exercised Warrants 6,272,000 $ Par 2 5/22/2009 Universal Bancorp Bloomfield IN Preferred Stock w/ Exercised Warrants 9,900,000 $ Par 2 5/22/2009 Franklin Bancorp, Inc. Washington MO Preferred Stock w/ Exercised Warrants 5,097,000 $ Par 8 5/22/2009 Commonwealth Bancshares, Inc. Louisville KY Subordinated Debentures w/ Exercised Warrants $ Par 20,400,000

8 5/22/2009 Premier Financial Corp Dubuque IA Subordinated Debentures w/ Exercised Warrants $ Par 6,349,000

8 5/22/2009 F & C Bancorp, Inc. Holden MO Subordinated Debentures w/ Exercised Warrants $ Par 2,993,000

8 5/22/2009 Diamond Bancorp, Inc. Washington MO Subordinated Debentures w/ Exercised Warrants $ Par 20,445,000

8 5/22/2009 United Bank Corporation Barnesville GA Subordinated Debentures w/ Exercised Warrants $ Par 14,400,000

5/29/2009 Community Bank Shares of Indiana, Inc. New Albany IN Preferred Stock w/ Warrants 19,468,000 $ Par 
Name of Institution City State Investment Description Investment Amount 

 Pricing 

Mechanism

Capital 

Repayment Date

Footnote Purchase Date 

Seller Purchase Details Capital Rep

2 5/29/2009 American Premier Bancorp Arcadia CA Preferred Stock w/ Exercised Warrants 1,800,000 $ Par 2 5/29/2009 CB Holding Corp. Aledo IL Preferred Stock w/ Exercised Warrants 4,114,000 $ Par 2 5/29/2009 Citizens Bancshares Co. Chillicothe MO Preferred Stock w/ Exercised Warrants 24,990,000 $ Par 2 5/29/2009 Grand Mountain Bancshares, Inc. Granby CO Preferred Stock w/ Exercised Warrants 3,076,000 $ Par 2 5/29/2009 Two Rivers Financial Group Burlington IA Preferred Stock w/ Exercised Warrants 12,000,000 $ Par 8 5/29/2009 Fidelity Bancorp, Inc Baton Rouge LA Subordinated Debentures w/ Exercised Warrants $ Par 3,942,000

8 5/29/2009 Chambers Bancshares, Inc. Danville AR Subordinated Debentures w/ Exercised Warrants $ Par 19,817,0002 6/5/2009 Covenant Financial Corporation Clarksdale MS Preferred Stock w/ Exercised Warrants 5,000,000 $ Par 8 6/5/2009 First Trust Corporation New Orleans LA Subordinated Debentures w/ Exercised Warrants $ Par 17,969,000

8, 10 6/5/2009 OneFinancial Corporation Little Rock AR Subordinated Debentures w/ Exercised Warrants $ Par 17,300,000

2 6/12/2009 Berkshire Bancorp, Inc. Wyomissing PA Preferred Stock w/ Exercised Warrants 2,892,000 $ Par 

2, 10 6/12/2009 First Vernon Bancshares, Inc. Vernon AL Preferred Stock w/ Exercised Warrants 6,000,000 $ Par 

2 6/12/2009 SouthFirst Bancshares, Inc. Sylacauga AL Preferred Stock w/ Exercised Warrants 2,760,000 $ Par 

2, 10 6/12/2009 Virginia Company Bank Newport News VA Preferred Stock w/ Exercised Warrants 4,700,000 $ Par 

2 6/12/2009 Enterprise Financial Services Group, Inc. Allison Park PA Preferred Stock w/ Exercised Warrants 4,000,000 $ Par 

8, 10 6/12/2009 First Financial Bancshares, Inc. Lawrence KS Subordinated Debentures w/ Exercised Warrants $ Par 3,756,000

8 6/12/2009 River Valley Bancorporation, Inc. Wausau WI Subordinated Debentures w/ Exercised Warrants $ Par 15,000,0002 6/19/2009 Merchants and Manufacturers Bank Corporation Joliet IL Preferred Stock w/ Exercised Warrants 3,510,000 $ Par 

2 10 ,6/19/2009 6/19/2009 RCB Financial Corporation RCB Financial Corporation Rome GA Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants $ 8 900 000 8,900,000 Par

8 6/19/2009 Manhattan Bancshares, Inc. Manhattan IL Subordinated Debentures w/ Exercised Warrants $ Par 2,639,000

8, 10 6/19/2009 Biscayne Bancshares, Inc. Coconut Grove FL Subordinated Debentures w/ Exercised Warrants $ Par 6,400,000

8 6/19/2009 Duke Financial Group, Inc. Minneapolis MN Subordinated Debentures w/ Exercised Warrants $ Par 12,000,0008 6/19/2009 Farmers Enterprises, Inc. Great Bend KS Subordinated Debentures w/ Exercised Warrants $ Par 12,000,0008 6/19/2009 Century Financial Services Corporation Santa Fe NM Subordinated Debentures w/ Exercised Warrants $ Par 10,000,0008 6/19/2009 NEMO Bancshares Inc. Madison MO Subordinated Debentures w/ Exercised Warrants $ Par 2,330,000

3, 8 6/19/2009 University Financial Corp, Inc. St. Paul MN Subordinated Debentures 11,926,000 $ Par 

8 6/19/2009 Suburban Illinois Bancorp, Inc. Elmhurst IL Subordinated Debentures w/ Exercised Warrants $ Par 15,000,000

6/26/2009 Hartford Financial Services Group, Inc. Hartford CT Preferred Stock w/ Warrants 3,400,000,000 $ Par 

2 6/26/2009 Fidelity Resources Company Plano TX Preferred Stock w/ Exercised Warrants 3,000,000 $ Par 

2, 10 6/26/2009 Waukesha Bankshares, Inc. Waukesha WI Preferred Stock w/ Exercised Warrants 5,625,000 $ Par 

2 6/26/2009 FC Holdings, Inc. Houston TX Preferred Stock w/ Exercised Warrants 21,042,000 $ Par 

2, 10 6/26/2009 Security Capital Corporation Batesville MS Preferred Stock w/ Exercised Warrants 17,388,000 $ Par 

2 6/26/2009 First Alliance Bancshares, Inc. Cordova TN Preferred Stock w/ Exercised Warrants 3,422,000 $ Par 2 6/26/2009 Gulfstream Bancshares, Inc. Stuart FL Preferred Stock w/ Exercised Warrants 7, $ Par 500,000

2, 10 6/26/2009 Gold Canyon Bank Gold Canyon AZ Preferred Stock w/ Exercised Warrants 1,607,000 $ Par 

2, 3, 10 6/26/2009 M&F Bancorp, Inc. Durham NC Preferred Stock 11,735,000 $ Par 

2 6/26/2009 Metropolitan Bank Group, Inc. Chicago IL Preferred Stock w/ Exercised Warrants 71,526,000 $ Par 2 6/26/2009 NC Bancorp, Inc. Chicago IL Preferred Stock w/ Exercised Warrants 6,880,000 $ Par 2 6/26/2009 Alliance Bancshares, Inc. Dalton GA Preferred Stock w/ Exercised Warrants 2,986,000 $ Par 8 6/26/2009 Stearns Financial Services, Inc. St. Cloud MN Subordinated Debentures w/ Exercised Warrants $ Par 24,900,000

8 6/26/2009 Signature Bancshares, Inc. Dallas TX Subordinated Debentures w/ Exercised 8 6/26/2009 Signature Bancshares, Inc. Dallas TX $ 1,700,000 Par Warrants $ 1,700,000 Par

8 6/26/2009 Fremont Bancorporation Fremont CA Subordinated Debentures w/ Exercised Warrants $ Par 35,000,000

8 6/26/2009 Alliance Financial Services Inc. Saint Paul MN Subordinated Debentures w/ Exercised Warrants $ Par 12,000,000

7/10/2009 Lincoln National Corporation Radnor PA Preferred Stock w/ Warrants 950,000,000 $ Par 

2, 10 7/10/2009 Bancorp Financial, Inc. Oak Brook IL Preferred Stock w/ Exercised Warrants 13,669,000 $ Par 

2 7/17/2009 Brotherhood Bancshares, Inc. Kansas City KS Preferred Stock w/ Exercised Warrants 11,000,000 $ Par 
Name of Institution City State Investment Description Investment Amount 

 Pricing 

Mechanism

Capital 

Repayment Date

Footnote Purchase Date 

Seller Purchase Details Capital Rep

2 7/17/2009 SouthCrest Financial Group, Inc. Fayetteville GA Preferred Stock w/ Exercised Warrants 12,900,000 $ Par 

2,3 7/17/2009 Harbor Bankshares Corporation Baltimore MD Preferred Stock 6,800,000 $ Par 

8 7/17/2009 First South Bancorp, Inc. Lexington TN Subordinated Debentures w/ Exercised Warrants $ Par 50,000,000

8 7/17/2009 Great River Holding Company Baxter MN Subordinated Debentures w/ Exercised Warrants $ Par 8,400,000

8, 10 7/17/2009 Plato Holdings Inc. Saint Paul MN Subordinated Debentures w/ Exercised Warrants $ Par 2,500,000

7/24/2009 Yadkin Valley Financial Corporation Elkin NC Preferred Stock w/ Warrants 13,312,000 $ Par 

2, 10 7/24/2009 Community Bancshares, Inc. Kingman AZ Preferred Stock w/ Exercised Warrants 3,872,000 $ Par 

2 7/24/2009 Florida Bank Group, Inc. Tampa FL Preferred Stock w/ Exercised Warrants 20,471,000 $ Par 8 7/24/2009 First American Bank Corporation Elk Grove Village IL Subordinated Debentures w/ Exercised Warrants $ Par 50,000,0002 7/31/2009 Chicago Shore Corporation Chicago IL Preferred Stock w/ Exercised Warrants 7,000,000 $ Par 

8, 10 7/31/2009 Financial Services of Winger, Inc. Winger MN Subordinated Debentures w/ Exercised Warrants $ Par 3,742,000

2 8/7/2009 The ANB Corporation Terrell TX Preferred Stock w/ Exercised Warrants 20,000,000 $ Par 2 8/7/2009 U.S. Century Bank Miami FL Preferred Stock w/ Exercised Warrants 50,236,000 $ Par 2 8/14/2009 Bank Financial Services, Inc. Eden Prarie MN Preferred Stock w/ Exercised Warrants 1,004,000 $ Par 2 8/21/2009 KS Bancorp, Inc. Smithfield NC Preferred Stock w/ Exercised Warrants 4,000,000 $ Par 8 8/21/2009 AmFirst Financial Services, Inc. McCook NE Subordinated Debentures w/ Exercised Warrants $ Par 5,000,000

2, 3 8/28/2009 First Independence Corporation Detroit MI Preferred Stock 3,223,000 $ Par 

2 8/28/2009 First Guaranty Bancshares, Inc. Hammond LA Preferred Stock w/ Exercised Warrants 20,699,000 $ Par 

2 10 ,8/28/2009 8/28/2009 CoastalSouth Bancshares Inc CoastalSouth Bancshares, Inc. Hilton Head Island Hilton Head Island SC Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants $ 16 015 000 16,015,000 Par

8, 10 8/28/2009 TCB Corporation Greenwood SC Subordinated Debentures w/ Exercised Warrants $ Par 9,720,000

8, 10 9/4/2009 The State Bank of Bartley Bartley NE Subordinated Debentures w/ Exercised Warrants $ Par 1,697,000

9/11/2009 Pathfinder Bancorp, Inc. Oswego NY Preferred Stock w/ Warrants 6,771,000 $ Par 

2 9/11/2009 Community Bancshares of Mississippi, Inc. Brandon MS Preferred Stock w/ Exercised Warrants 52,000,000 $ Par 

2, 10 9/11/2009 Heartland Bancshares, Inc. Franklin IN Preferred Stock w/ Exercised Warrants 7,000,000 $ Par 2, 10 9/11/2009 PFSB Bancorporation, Inc. Pigeon Falls WI Preferred Stock w/ Exercised Warrants 1,500,000 $ Par 

8 9/11/2009 First Eagle Bancshares, Inc. Hanover Park IL Subordinated Debentures w/ Exercised Warrants $ Par 7,500,000

2, 10 9/18/2009 IA Bancorp, Inc. Iselin NJ Preferred Stock w/ Exercised Warrants 5,976,000 $ Par 2, 10 9/18/2009 HomeTown Bankshares Corporation Roanoke VA Preferred Stock w/ Exercised Warrants 10,000,000 $ Par 2, 10 9/25/2009 Heritage Bankshares, Inc. Norfolk VA Preferred Stock w/ Exercised Warrants 10,103,000 $ Par 

2 9/25/2009 Mountain Valley Bancshares, Inc. Cleveland GA Preferred Stock w/ Exercised Warrants 3,300,000 $ Par 8 9/25/2009 Grand Financial Corporation Hattiesburg MS Subordinated Debentures w/ Exercised Warrants $ Par 2,443,320

3, 8 9/25/2009 Guaranty Capital Corporation Belzoni MS Subordinated Debentures 14,000,000 $ Par 

8, 10 9/25/2009 GulfSouth Private Bank Destin FL Subordinated Debentures w/ Exercised Warrants $ Par 7,500,000

8, 10 9/25/2009 Steele Street Bank Corporation Denver CO Subordinated Debentures w/ Exercised Warrants $ Par 11,019,000

10/2/2009 Premier Financial Bancorp, Inc. Huntington WV Preferred Stock w/ Warrants 22,252,000 $ Par 

2, 10 10/2/2009 Providence Bank Rocky Mount NC Preferred Stock w/ Exercised Warrants 4,000,000 $ Par 2, 10 10/23/2009 Regents Bancshares, Inc. Vancouver WA Preferred Stock w/ Exercised Warrants 12,700,000 $ Par 

8 10/23/2009 Cardinal Bancorp II, Inc. Washington MO

Subordinated Debentures w/ Exercised Warrants $ Par 6,251,000

2 10/30/2009 Randolph Bank & Trust Company Asheboro NC Preferred Stock w/ Exercised Warrants $ Par 6,229,000

2, 10a 10/30/2009 WashingtonFirst Bankshares, Inc. Reston VA Preferred Stock $ Par 6,842,000

2, 10a 11/6/2009 11/6/2009 F & M Bancshares, Inc. F & M Bancshares, Inc. Trezevant Trezevant TN Preferred Stoc Preferred Stock $ 3,535,000 3,535,000 Par

2, 10 11/13/2009 Fidelity Federal Bancorp Evansville IN Preferred Stock w/ Exercised Warrants $ Par 6,657,000

8, 10 11/13/2009 Community Pride Bank Corporation Ham Lake MN

Subordinated Debentures w/ Exercised Warrants $ Par 4,400,000

2, 10a 11/13/2009 HPK Financial Corporation Chicago IL Preferred Stock w/ Exercised Warrants $ Par 5,000,000

2, 10 11/20/2009 Presidio Bank San Francisco CA Preferred Stock w/ Exercised Warrants $ Par 10,800,000

2 11/20/2009 McLeod Bancshares, Inc. Shorewood MN Preferred Stock w/ Exercised Warrants $ Par 6,000,000

2, 10a 11/20/2009 Metropolitan Capital Bancorp, Inc. Chicago IL Preferred Stock $ Par 2,348,000
Name of Institution City State Investment Description Investment Amount 

 Pricing 

Mechanism

Capital 

Repayment Date

Footnote Purchase Date 

Seller Purchase Details Capital Rep

3, 10a 12/4/2009 Broadway Financial Corporation Los Angeles CA Preferred Stock $ Par 6,000,000

2 12/4/2009 Delmar Bancorp Delmar MD Preferred Stock w/ Exercised Warrants $ Par 9,000,000

2, 10 12/4/2009 Liberty Bancshares, Inc. Fort Worth TX Preferred Stock w/ Exercised Warrants $ Par 6,500,000

2 12/11/2009 First Community Financial Partners, Inc. Joliet IL Preferred Stock w/ Exercised Warrants $ Par 22,000,000

2, 10 12/11/2009 Wachusett Financial Services, Inc. Clinton MA Preferred Stock w/ Exercised Warrants $ Par 12,000,000

8 12/11/2009 Nationwide Bankshares, Inc. West Point NE Subordinated Debentures w/ Exercised Warrants $ Par 2,000,000

2, 10a 12/11/2009 GrandSouth Bancorporation Greenville SC Preferred Stock $ Par 6,319,0002, 10a 12/11/2009 1st Enterprise Bank Los Angeles CA Preferred Stock $ Par 6,000,0002, 10a 12/11/2009 First Resource Bank Exton PA Preferred Stock $ Par 2,417,0002, 10a 12/11/2009 First Western Financial, Inc. Denver CO Preferred Stock $ Par 11,881,0002, 10a 12/11/2009 Meridian Bank Devon PA Preferred Stock $ Par 6,335,0002, 10a 12/11/2009 The Victory Bancorp, Inc. Limerick PA Preferred Stock w/ Exercised Warrants 1,505,000 $ Par 2, 10a 12/11/2009 First Business Bank, N.A. San Diego CA Preferred Stock $ Par 2,032,000

2 12/18/2009 Layton Park Financial Group Milwaukee WI Preferred Stock w/ Exercised Warrants $ Par 3,000,000

2, 10 12/18/2009 Centric Financial Corporation Harrisburg PA Preferred Stock w/ Exercised Warrants $ Par 6,056,000

2 12/18/2009 Valley Financial Group, Ltd., 1st State Bank Saginaw MI Preferred Stock w/ Exercised Warrants $ Par 1,300,000

2, 10a 12/18/2009 Cache Valley Banking Company Logan UT Preferred Stock $ Par 4,640,0002, 10a 12/18/2009 Birmingham Bloomfield Bancshares, Inc Birmingham MI Preferred Stock $ Par 1,744,0002, 10a 12/18/2009 First Priority Financial Corp. Malvern PA Preferred Stock $ Par 4,596,0002, 10a 12/18/2009 Northern State Bank Closter NJ Preferred Stock $ Par 1,230,0002, 10a 12/18/2009 Union Bank & Trust Company Oxford NC Preferred Stock $ Par 2,997,000

2, 10 12/22/2009 First Freedom Bancshares, Inc. Lebanon TN Preferred Stock w/ Exercised Warrants $ Par 8,700,000

2 10, a 12/22/2009 First Choice Ban 12/22/2009 Fi t Ch i B k C iterros CA P f d St k Preferred Stock $ Par 2 836 000 2,836,000 P

2, 10a 12/22/2009 Highlands State Bank Vernon NJ Preferred Stock $ Par 2,359,0002, 10a 12/22/2009 Medallion Bank Salt Lake City UT Preferred Stock w/ Exercised Warrants $ Par 9,698,0002, 10a 12/22/2009 Catskill Hudson Bancorp, Inc Rock Hill NY Preferred Stock w/ Exercised Warrants $ Par 3,500,0002, 10a 12/22/2009 TriSummit Bank Kingsport TN Preferred Stock $ Par 4,237,000

2, 10 12/29/2009 Atlantic Bancshares, Inc. Bluffton SC Preferred Stock w/ Exercised Warrants $ Par 2,000,000

2, 10 12/29/2009 Union Financial Corporation Albuquerque NM Preferred Stock w/ Exercised Warrants $ Par 2,179,000

2 12/29/2009 Mainline Bancorp, Inc. Ebensburg PA Preferred Stock w/ Exercised Warrants $ Par 4,500,0008 12/29/2009 FBHC Holding Company Boulder CO Subordinated Debentures w/ Exercised Warrants $ Par 3,035,000

2, 10a 12/29/2009 Western Illinois Bancshares Inc. Monmouth IL Preferred Stock $ Par 4,567,0002, 10a 12/29/2009 DeSoto County Bank Horn Lake MS Preferred Stock $ Par 1,508,0002, 10a 12/29/2009 Lafayette Bancorp, Inc. Oxford MS Preferred Stock $ Par 2,453,0002, 10a 12/29/2009 Private Bancorporation, Inc. Minneapolis MN Preferred Stock $ Par 3,262,0002, 10a 12/29/2009 CBB Bancorp Cartersville GA Preferred Stock $ Par 1,753,0002, 10a 12/29/2009 Illinois State Bancorp, Inc. Chicago IL Preferred Stock w/ Exercised Warrants $ Par 4,000,000

Total Purchase Amount $ Total Capital Repa

204,894,726,320 

TOTAL TREASURY CPP INVESTMENT AMOUNT 

2/ Privately-held qualified financial institution; Treasury received a warrant to purchase additional shares of preferred stock (unless the institution is a CDFI), which it exercised immediately.1/ This transaction was included in previous Transaction Reports with Merrill Lynch & Co., Inc. listed as the qualifying institution and a 10/28/2008 transaction date, footnoted to indicate that settlement was deferred pending mfunded on 1/9/2009.3/ To promote community development financial institutions (CDFIs), Treasury does not require warrants as part of its investment in certified CDFIs when the size of the investment is $50 million or less.3a/ Treasury cancelled the warrants received from this institution due to its designation as a CDFI.4/ Repayment pursuant to Title VII, Section 7001(g) of the American Recovery and Reinvestment Act of 2009.5/ Redemption pursuant to a qualified equity offering.

6/ Thi t d t i l d d d id di id d hi h t b id t th ti f it l t12/ On 8/24/2009, Treasury exchanged its Series C Preferred Stock issued by Popular, Inc. for a like amount of non tax-deductible Trust Preferred Securities issued by Popular Capital Trust III, administrative trustee for Popula6/ This amount does not include accrued and unpaid dividends, which must be paid at the time of capital repayment.

7/ The proceeds associated with the disposition of this investment do not include accrued and unpaid dividends.8/ Subchapter S corporation; Treasury received a warrant to purchase additional subordinated debentures (unless the institution is a CDFI), which it exercised immediately.9/ In its qualified equity offering, this institution raised more capital than Treasury’s original investment, therefore, the number of Treasury’s shares underlying the warrant was reduced by half.10/ This institution participated in the expansion of CPP for small banks.10a/ This institution received an additional investment through the expansion of CPP for small banks.11/ Treasury made three separate investments in Citigroup Inc. ("Citigroup") under CPP, TIP, and AGP for a total of $49 billion. On 6/9/2009, Treasury entered into an agreement with Citigroup to exchange up to $25 billion of 

Private and Public Exchange Offerings. On 7/23/2009 and 7/30/2009, Treasury exchanged a total of $25 billion of the CPP shares for Series M Common Stock Equivalent (“Series M”) and a warrant to purchase shares of Seriterminated on receipt of certain shareholder approvals.13/ This institution converted to a bank holding company structure and Treasury exchanged its securities for a like amount of securities that comply with the CPP terms applicable to bank holding companies. The institution in 

14/ As of the date of this report, this institution is in bankruptcy proceedings. 15/ For final disposition of warrants, "R" represents proceeds from a repurchase of warrants by the financial institution, and "A" represents the proceeds to Treasury, before underwriting fees and selling expenses, from a sale 

16/ On 12/10/2009, the bankruptcy reorganization plan of CIT Group Inc. became effective and Treasury's preferred stock and warrant investment were extinguished and replaced by Contingent Value Rights.17/ On 12/11/2009, Treasury exchanged its Series A Preferred Stock issued by Superior Bancorp, Inc. for a like amount of non tax-deductible Trust Preferred Securities issued by Superior Capital Trust II, administrative truste
12/29/2008 Purchase GMAC Preferred Stock w/ Exercised Warrants $ Par 12/30/2009 5,000,000,000 Exchange for convertible preferred stock $ N/A GMAC 

5,000,000,000 

GMAC GMAC GMAC 

12/30/2009 Purchase GMAC Trust Preferred Securities w/ Exercised Warrants $ Par 2,540,000,00012/30/2009 Purchase GMAC Convertible Preferred Stock w/ Exercised Warrants $ Par 22 1,250,000,00012/29/2008 Purchase General Motors Corporation Debt Obligation 884,024,131 $ Par 2 5/29/2009 Exchange for equity interest in GMAC $ N/A 884,024,131 3

12/31/2008 Purchase General Motors Corporation Debt Obligation w/ Additional Note $ Par 7/10/2009 13,400,000,000 Exchange for preferred and common stock in New GM $ 13,400,000,000 N/A 7

4/22/2009 Purchase General Motors Corporation Debt Obligation w/ Additional Note $ Par 2,000,000,000 4 7/10/2009 Exchange for preferred and common stock in New GM $ 2,000,000,000 N/A 7 General Mo

Company 

5/20/2009 Purchase General Motors Corporation Debt Obligation w/ Additional Note $ Par 4,000,000,000 5 7/10/2009 Exchange for preferred and common stock in New GM $ 4,000,000,000 N/A 7 General Mo

Company 

6/3/2009 Purchase General Motors Corporation Debt Obligation w/ Additional Note $ Par 30,100,000,000 8 7/10/2009 Exchange for preferred and common stock in New GM $ 22,041,706,310 N/A 9

9

Transaction 

Type Seller Description Amount

Pricing 

Mechanism Date

AUTOMOTIVE INDUSTRY FINANCING PROGRAM

Initial Investment Exchange/Transfer/Other Details Treas

City, State Date 

Type Amount 

Pricing 

Mechanism Obligo

General 

Motors Detroit, MI 5/27/2009 Purchase

$ Par 22 12/30/2009 7,500,000,000 Partial exchange for common stock $ 3,000,000,000

GMAC Detroit, MI

5/21/2009 Purchase GMAC Convertible Preferred Stock w/ Exercised Warrants

General Motors Corporation

Debt Obligation w/ Additional Note $ Par 360,624,198

6

7/10/2009

N/A

Exchange for preferred and common stock in New GM $ 360,624,198 N/A

7

General MoHoldings LL

7/10/2009 Transfer of debt to New GM 7,072,488,605 $ N/A 97/10/2009 Debt left at Old GM 985,805,085 $ N/A 9 Motors Liqu

Company 

1/16/2009 Purchase Chrysler FinCo Debt Obligation w/ Additional Note $ Par 1,500,000,000 13 

1/2/2009 Purchase Chrysler Holding Debt Obligation w/ Additional Note $ Par 6/10/2009 4,000,000,000 Transfer of debt to New Chrysler $ N/A 500,000,000 19 Chrysler Ho

4/29/2009 Purchase Chrysler Holding Debt Obligation w/ Additional Note $ - - 144/29/2009 Purchase Chrysler Holding Debt Obligation w/ Additional Note $ Par 280,130,642 15 

5/1/2009 Purchase Chrysler LLC Debt Obligation w/ Additional Note $ 1,888,153,580 16

5/20/2009 Purchase Chrysler LLC Debt Obligation w/ Additional Note $ - - 175/27/2009 Purchase Chrysler Group LLC Debt Obligation w/ Additional Note, Equity $ N/A 6,642,000,000 18 6/10/2009 Issuance of equity in New Chrysler $ N/A - Chrysler Gr

LLC 

Chrysler GrLLC 

$ 81,344,932,551 

Chrylser Auburn Hills, MI

Chrysler 

FinCo

Farmington 

Hills, MI

Total Initial Investment Amount 

"Old GM" refers to General Motors Corporation, which is now known as Motors Liquidation Company."New GM" refers to General Motors Company, the company that purchased Old GM's assets on 7/10/2009 in a sale pursuant to section 363 of the Bankruptcy Code. See also footnote 11."Chrysler FinCo" refers to Chrysler Financial Services Americas LLC."Chrysler Holding" refers to CGI Holding LLC, the company formerly known as "Chrysler Holding LLC".As used in this table and its footnotes:"GMAC" refers to GMAC Inc., formerly known as GMAC LLC.
"Old Chrysler" refers to Chrysler LLC.

"New Chrysler" refers to Chrysler Group LLC, the company that purchased Old Chrysler's assets on 6/10/2009 in a sale pursuant to section 363 of the Bankruptcy Code.5. This transaction was a further amendment to the Old GM Loan, which brought the total loan amount to $19,400,000,000.6. This transaction was a further amendment to the Old GM Loan, which brought the total loan amount to $19,760,624,198. The $360,624,198 loan was used to capitalize GM Warranty LLC, a special purpose vehicle created by . On 7/10/2009, the pri

7. On 7/10/2009, the principal amount outstanding under the Old GM Loan and interest accrued thereunder were extinguished and exchanged for privately placed preferred and common equity in New GM. (See green lines in the table above.)8. Under the terms of the $33.3 billion debtor-in-possession credit agreement dated 6/3/2009 with Old GM (the "GM DIP Loan"), Treasury's commitment amount was $30.1 billion. The remaining $2.2 billion of the financing was provided by Canadian go

9. On 7/10/2009, Treasury and Old GM amended the GM DIP Loan, and the principal amount and interest accrued thereunder were extinguished and exchanged for privately placed preferred and common equity in New GM, except for (i) $7.07 billion, w(see transactions marked by green lines in table above) and (ii) $986 million, which remained a debt obligation of Old GM. 10. In total, for the exchange of the Old GM Loan and the GM DIP Loan (other than as explained in footnote 9), Treasury received $2.1 billion in preferred shares and 60.8% of the common shares of New GM. (See transactions marked by green lines in 

1. Payment amount does not include accrued and unpaid interest on a debt obligation, which must be paid at the time of principal repayment.2. Treasury committed to lend General Motors Corporation up to $1,000,000,000. The ultimate funding was dependent upon the level of investor participation in GMAC LLC's rights offering. The amount has been updated to reflect the final level of fun3. Pursuant to its rights under the loan agreement with Old GM reported on 12/29/2008, Treasury exchanged its $884 million loan to Old GM for a portion of Old GM’s common equity interest in GMAC. Treasury held a 35.4% common equity interest in 

4. This transaction is an amendment to Treasury's 12/31/2008 agreement with Old GM (the "Old GM Loan"), which brought the total loan amount to $15,400,000,000.17. This transaction was an amendment to Treasury's commitment under the Chrysler DIP Loan, which increased Treasury's commitment by an amount $756,857,000 to a total of $3.8 billion under the Chrysler DIP Loan. As of 6/30/2009, Treasury's ob

18. This transaction, first reported based on a term sheet fully executed on 5/27/2009 for an amount up to $6.943 billion, was set forth in a credit agreement with New Chrysler fully executed on 6/10/2009. Under the terms of the credit agreement, Treasu

6/10/2009 from Chrysler Holding originally incurred under Treasury's 1/2/2009 credit agreement with Chrysler Holding. The debt obligations are secured by a first priority lien on the assets of New Chrysler. When the sale to new Chrysler was completed19. Pursuant to the agreement explained in footnote 18, $500 million of this debt obligation was assumed by New Chrysler. 20. Under the terms of an agreement dated 7/23/2009, Treasury agreed to hold the outstanding loans of Chrysler Holding in forbearance, and Chrysler Holding agreed to pay the greater of $1.375 billion or 40% of the equity value of Chrysler FinCo in th

21. Amount of the Treasury investment after exchange includes the exercised warrants from Treasury's initial investment. 22. Under the terms of an agreement dated 12/30/2009, the convertible preferred shares will mandatorily convert to common stock under the conditions and the conversion price as set forth in the terms of the agreement. 11. Pursuant to a corporate reorganization completed on or about 10/19/2009, the shareholders of New GM, including with respect to Treasury's preferred and common stock, became shareholders of General Motors Holding Company (the ultimate pareNew GM was converted to "General Motors LLC". General Motors LLC is a wholly owned subsidiary of General Motors Holdings LLC, and General Motors Holdings LLC is a wholly owned subsidiary of General Motors Company.12. Pursuant to a corporate reorganization completed on 10/19/2009, Treasury's loan with New GM was assigned and assumed by General Motors Holdings LLC.13. The loan was funded through Chrysler LB Receivables Trust, a special purpose vehicle created by Chrysler FinCo. The amount of $1,500,000,000 represents the maximum loan amount. The loan was incrementally funded until it reached the maxim14. This transaction was an amendment to Treasury's 1/2/2009 agreement with Chrysler Holding. As of 4/30/2009, Treasury's obligation to lend any funds committed under this amendment had terminated. No funds were disbursed.15. The loan was used to capitalize Chrysler Warranty SPV LLC, a special purpose vehicle created by Old Chrysler. 16. This transaction was set forth in a credit agreement with Old Chrysler fully executed on 5/5/2009 following a term sheet executed on 5/1/2009 and made effective on 4/30/2009. Treasury's commitment was $3.04 billion of the total $4.1 billion debtor

had terminated. The remaining principal amount reflects the final amount of funds disbursed under the Chrylser DIP Loan.

City State

Adjustm

Amou

1 4/9/2009 Wilmington DE Purchase 3,500,000,000 $ 7/8/2009 3 $ 

(1,000,0

2 4/9/2009 Wilmington DE Purchase $ 1,500,000,000 7/8/2009 3 $ (500,0

$ 5,000,000,000 

Name of Institution

Adjustment 

Date

GM Supplier Receivables LLC

Debt Obligation w/ Additional Note N/A 

AUTOMOTIVE SUPPLIER SUPPORT PROGRAM

Footnote Date

Seller

Transaction Type

Investment 

Description 

Investment 

Amount Pricing Mechanism

Adjus

1/ The loan was funded through GM Supplier Receivables, LLC, a special purpose vehicle created by General Motors Corporation. The amount of $3,500,000,000 represents the maximum loan amount. The loan will be incrementally funded. The credit 

2/ The loan was funded through Chrysler Receivables SPV LLC, a special purpose vehicle created by Chrysler LLC. The amount of $1,500,000,000 represents the maximum loan amount. The loan will be incrementally funded. The credit agreement was 

3/ Treasury issued notice to the institution of the permanent reduced commitment on 7/8/2009; the reduction was effective on 7/1/2009.4/ Does not include accrued and unpaid interest due on the amount of principal repayment, which interest must be paid at the time of principal repayment.

Chrysler Receivables SPV LLC

Debt Obligation w/ Additional Note N/A 

INITIAL TOTAL ADJUSTED 
Date Name of Institution City State

Capital 

Repayment Date

Capital Repayment 

Amount

Remaining 

Capital Amount

Remaining Capital 

Description Final Disposition Date

F

Disp

Desc

1 12/31/2008 Citigroup Inc. New York NY Purchase

Trust Preferred Securities w/ Warrants $ 20,000,000,000 Par 12/23/2009 2 $ 20,000,000,000 0 $ Warrants

1/16/2009

Bank of America Corporation Charlotte NC Purchase

Preferred Stock w/ Warrants $ 20,000,000,000 Par 12/9/2009

2

 $ 20,000,000,000 $ 0 Warrants

TOTAL $ 40,000,000,000 $ 40,000,000,000 

$ 0

Date Name of Institution City State

1 1/16/2009 Citigroup Inc. New York NY Guarantee Master Agreement $ 5,000,000,000 

Preferred Stock 

w/ Warrants 2 6/9/2009

Exchange preferred stock for trust preferred securities

Trust Preferred Securities w/ Warrants $ 4,034

3 12/23/2009 Citigroup Inc. New York NY Termination Termination Agreement $ (5,000,000,000)

TOTAL $ 0

TARGETED INVESTMENT PROGRAM

Footnote

Seller

Transaction 

Type Investment Description Investment Amount

Pricing 

Mechanism

Capital Repayment Details

Treasury Investment Remaining After Capital 

Repayment Final Dispo

Amount

AMOUNT

TOTAL TREASURY TIP INVESTMENT AMOUNT

1/ Treasury made three separate investments in Citigroup Inc. ("Citigroup") under CPP, TIP, and AGP for a total of $49 billion. On 6/9/2009, Treasury entered into an agreement with Citigroup to exchange all of Treasury’s investments. On 7/30/2009, Treasury exchanged all of its Fixed R

Preferred Stock, Series I (TIP Shares) “dollar for dollar” for Trust Preferred Securities.2/ Repayment pursuant to Title VII, Section 7001 of the American Recovery and Reinvestment Act of 2009.

ASSET GUARANTEE PROGRAM

Footnote

Initial Investment Premium Exchange/Transfer/Other Details 

Seller

Type Description Guarantee Limit Description

1/ In consideration for the guarantee, Treasury received $4.03 billion of preferred stock, which pays 8% interest.2/ Treasury made three separate investments in Citigroup Inc. ("Citigroup") under CPP, TIP, and AGP for a total of $49 billion. On 6/9/2009, Treasury entered into an agreement with Citigroup to exchange all of Treasury’s investments. On 7/30/2009, Treasury exchanged all of its Fixed R

Trust Preferred Securities. 3/ On 12/23/2009, Treasury entered into a Termination Agreement with the other parties to the Master Agreement which served to terminate Treasury’s guarantee and obligations under the Master Agreement. In connection with the early termination of the guarantee, Treasury agreed to 

that, subject to the conditions set out in the Termination Agreement, the FDIC may transfer $800 million of Trust Preferred Securities to Treasury at the close of Citigroup’s participation in the FDIC’s Temporary Liquidity Guarantee Program.

 $ 4,034,000,000 

Footnote Date Type Description Am
Name of Institution City State

1 3/3/2009 TALF LLC Wilmington DE Purchase Debt Obligation w/ Additional Note $ 20,000,000,000 N/A

TOTAL $ 20,000,000,000

Seller 

Name of Institution City State 

Transaction 

Type Investment Description Investment Amount Pricing Mech

11/25/2008 AIG New York NY Purchase Preferred Stock w/ Warrants 40,000,000,000 $ Par 

3 4/17/2009 AIG New York NY Purchase Preferred Stock w/ Warrants 29,835,000,000 $ Par 

TOTAL $ 69,835,000,000

CONSUMER AND BUSINESS LENDING INITIATIVE INVESTMENT PROGRAM

Footnote Date

Seller Transaction 

Type Investment Description Investment Amount Pricing Mech

1/ On 4/17/2009, Treasury exchanged its Series D Fixed Rate Cumulative Preferred Shares for Series E Fixed Rate Non-Cumulative Preferred Shares with no change to Treasury's initial investment amount. In additionthe cumulative unpaid dividends for the Series D Preferred Shares due to Treasury through and including the exchange date.

1/ The loan was funded through TALF LLC, a special purpose vehicle created by The Federal Reserve Bank of New York. The amount of $20,000,000,000 represents the maximum loan amount. The loan will be increm

funded.

AMERICAN INTERNATIONAL GROUP, INC. (AIG) INVESTMENT PROGRAM

(formerly referred to as Systemically Significant Failing Institutions)

Footnote Date 

Purchase Details 

the cumulative unpaid dividends for the Series D Preferred Shares due to Treasury through and including the exchange date.

2/ The investment price reflects Treasury's commitment to invest up to $30 billion less a reduction of $165 million representing retention payments AIG Financial Products made to its employees in March 2009.

3/ This transaction does not include AIG's commitment fee of an additional $165 million scheduled to be paid from its operating income in three equal installments over the five-year life of the facility.
Name of Institution City State

1 9/30/2009 UST/TCW Senior Mortgage Securities Fund, L.P. Wilmington DE Purchase Membership Interest $1,111,111,12 9/30/2009 UST/TCW Senior Mortgage Securities Fund, L.P. Wilmington DE Purchase Debt Obligation w/ Contingent Proceeds $2,222,222,2

1 9/30/2009 Invesco Legacy Securities Master Fund, L.P. Wilmington DE Purchase Membership Interest $1,111,111,12 9/30/2009 Invesco Legacy Securities Master Fund, L.P. Wilmington DE Purchase Debt Obligation w/ Contingent Proceeds $2,222,222,21 10/1/2009 Wellington Management Legacy Securities PPIF Master Fund, LP Wilmington DE Purchase Membership Interest $1,111,111,12 10/1/2009 Wellington Management Legacy Securities PPIF Master Fund, LP Wilmington DE Purchase Debt Obligation w/ Contingent Proceeds $2,222,222,21 10/2/2009 AllianceBernstein Legacy Securities Master Fund, L.P. Wilmington DE Purchase Membership Interest $1,111,111,12 10/2/2009 AllianceBernstein Legacy Securities Master Fund, L.P. Wilmington DE Purchase Debt Obligation w/ Contingent Proceeds $2,222,222,21 10/2/2009 Blackrock PPIF, L.P. Wilmington DE Purchase Membership Interest $1,111,111,12 10/2/2009 Blackrock PPIF, L.P. Wilmington DE Purchase Debt Obligation w/ Contingent Proceeds $2,222,222,21 10/30/2009 AG GECC PPIF Master Fund, L.P. Wilmington DE Purchase Membership Interest $1,111,111,12 10/30/2009 AG GECC PPIF Master Fund, L.P. Wilmington DE Purchase Debt Obligation w/ Contingent Proceeds $2,222,222,2

$

LEGACY SECURITIES PUBLIC-PRIVATE INVESTMENT PROGRAM (S-PPIP)

Footnote Date

Seller Transaction 

Type Investment Description 

Investment 

Amount

1 11/4/2009 RLJ Western Asset Public/Private Master Fund, L.P. Wilmington DE Purchase Membership Interest $1,111,111,12 11/4/2009 RLJ Western Asset Public/Private Master Fund, L.P. Wilmington DE Purchase Debt Obligation w/ Contingent Proceeds $2,222,222,21 11/25/2009 Marathon Legacy Securities Public-Private Investment Partnership, L.P. Wilmington DE Purchase Membership Interest $1,111,111,12 11/25/2009 Marathon Legacy Securities Public-Private Investment Partnership, L.P. Wilmington DE Purchase Debt Obligation w/ Contingent Proceeds $2,222,222,21 12/18/2009 Oaktree PPIP Fund, L.P. Wilmington DE Purchase Membership Interest $1,111,111,12 12/18/2009 Oaktree PPIP Fund, L.P. Wilmington DE Purchase Debt Obligation w/ Contingent Proceeds $2,222,222,2

TOTAL $30,000,000,0

1/ The equity amount may be incrementally funded. Investment amount represents Treasury's maximum obligation if the limited partners other than Treasury fund their maximum equity capital obligations.2/ The loan may be incrementally funded. Investment amount represents Treasury's maximum obligation if Treasury and the limited partners other than Treasury fund 100% of their maximum equity obligations
Servicer Modifying Borrowers' Loans

Name of Institution City State 

HOME AFFORDABLE MODIFICATION PROGRAM

Date 

Transaction 

Type Investment Description 

Cap of Incentive Paymen

on Behalf of Borrowers a

to Servicers & 

Lenders/Investors (Cap) 

 $ 376,000,0

4/13/2009 CitiMortgage, Inc. O'Fallon MO Purchase Financial Instrument for Home Loan Modifications $ 2,071,000,004/13/2009 Select Portfolio Servicing Salt Lake City UT Purchase Financial Instrument for Home Loan Modifications4/13/2009 Wells Fargo Bank, NA Des Moines IA Purchase Financial Instrument for Home Loan Modifications $ 2,873,000,00

4/13/2009 Chase Home Finance, LLC Iselin NJ Purchase Financial Instrument for Home Loan Modifications $ 3,552,000,00

4/13/2009 GMAC Mortgage, Inc. Ft. Washington PA Purchase Financial Instrument for Home Loan Modifications $ 633,000,00

 $ 407,000,00

4/16/2009 Ocwen Financial Corporation, Inc. West Palm Beach FL Purchase Financial Instrument for Home Loan Modifications $ 659,000,004/13/2009 Saxon Mortgage Services, Inc. Irving TX Purchase Financial Instrument for Home Loan Modifications4/17/2009 Bank of America, N.A. Simi Valley CA Purchase Financial Instrument for Home Loan Modifications $ 798,900,00

4/17/2009 Countrywide Home Loans Servicing LP Simi Valley CA Purchase Financial Instrument for Home Loan Modifications $ 1,864,000,004/20/2009 Home Loan Services, Inc. Pittsburgh PA Purchase Financial Instrument for Home Loan Modifications $ 319,000,00
Servicer Modifying Borrowers' Loans

Name of Institution City State 

Date 

Transaction 

Type Investment Description 

Cap of Incentive Paymen

on Behalf of Borrowers a

to Servicers & 

Lenders/Investors (Cap) 

4/20/2009 Wilshire Credit Corporation Beaverton OR Purchase Financial Instrument for Home Loan Modifications $ 366,000,00

$ 

156,000,0

4/27/2009 Carrington Mortgage Services, LLC Santa Ana CA Purchase Financial Instrument for Home Loan Modifications 195,000,0

$ 

4/24/2009 Green Tree Servicing LLC Saint Paul MN Purchase Financial Instrument for Home Loan Modifications

6/19/2009 First Federal Savings and Loan Port Angeles WA Purchase Financial Instrument for Home Loan Modifications 770,0

$ 

$ 

798,000,0

5/28/2009 Nationstar Mortgage LLC Lewisville TX Purchase Financial Instrument for Home Loan Modifications 101,000,0

$ 

5/1/2009 Aurora Loan Services, LLC Littleton CO Purchase Financial Instrument for Home Loan Modifications

$ 

19,400,0

6/17/2009 CCO Mortgage Glen Allen VA Purchase Financial Instrument for Home Loan Modifications 16,520,0

$ 

6/12/2009 Residential Credit Solutions Fort Worth TX Purchase Financial Instrument for Home Loan Modifications6/17/2009 RG Mortgage Corporation San Juan PR Purchase Financial Instrument for Home Loan Modifications $ 

57,000,0

6/26/2009 Technology Credit Union San Jose CA Purchase Financial Instrument for Home Loan Modifications 70,0

$ 

6/19/2009 Wescom Central Credit Union Anaheim CA Purchase Financial Instrument for Home Loan Modifications 540,0

$ 

6/26/2009 Citizens First Wholesale Mortgage Company The Villages FL Purchase Financial Instrument for Home Loan Modifications $ 

30,0
Servicer Modifying Borrowers' Loans

Name of Institution City State 

Date 

Transaction 

Type Investment Description 

Cap of Incentive Paymen

on Behalf of Borrowers a

to Servicers & 

Lenders/Investors (Cap) 

6/26/2009 National City Bank Miamisburg OH Purchase Financial Instrument for Home Loan Modifications 294,980,0

$ $ 

634,010,0

7/1/2009 Bayview Loan Servicing, LLC Coral Gables FL Purchase Financial Instrument for Home Loan Modifications 44,260,0

$ 

7/1/2009 Wachovia Mortgage, FSB Des Moines IA Purchase Financial Instrument for Home Loan Modifications

$ 

100,0

7/10/2009 IBM Southeast Employees' Federal Credit Union Delray Beach FL Purchase Financial Instrument for Home Loan Modifications 87 $ 

0,0

7/10/2009 Lake National Bank Mentor OH Purchase Financial Instrument for Home Loan Modifications

$ 

23,480,0

7/17/2009 PNC Bank, National Association Pittsburgh PA Purchase Financial Instrument for Home Loan Modifications 54,470,0

$ 

7/17/2009 MorEquity, Inc. Evansville IN Purchase Financial Instrument for Home Loan Modifications

$ 

170,0

7/17/2009 ShoreBank Chicago IL Purchase Financial Instrument for Home Loan Modifications 1,410,0

$ 

7/17/2009 Farmers State Bank West Salem OH Purchase Financial Instrument for Home Loan Modifications

$ 

1,272,490,0

7/22/2009 Mortgage Center, LLC Southfield MI Purchase Financial Instrument for Home Loan Modifications 4,210,0

$ 

7/22/2009 American Home Mortgage Servicing, Inc Coppell TX Purchase Financial Instrument for Home Loan Modifications

7/22/2009 Mission Federal Credit Union San Diego CA Purchase Financial Instrument for Home Loan Modifications $ 

860,0

$ 860,0

7/29/2009 First Bank St. Louis MO Purchase Financial Instrument for Home Loan Modifications 6,460,0

$ 

7/22/2009 Mission Federal Credit Union San Diego CA Purchase Financial Instrument for Home Loan Modifications

7/29/2009 Purdue Employees Federal Credit Union West Lafayette IN Purchase Financial Instrument for Home Loan Modifications $ 

1,090,0
Servicer Modifying Borrowers' Loans

Name of Institution City State 

Date 

Transaction 

Type Investment Description 

Cap of Incentive Paymen

on Behalf of Borrowers a

to Servicers & 

Lenders/Investors (Cap) 

7/29/2009 Wachovia Bank, N.A. Charlotte NC Purchase Financial Instrument for Home Loan Modifications 85,020,0

$ $ 

2,699,720,0

7/31/2009 EMC Mortgage Corporation Lewisville TX Purchase Financial Instrument for Home Loan Modifications 707,380,0

$ 

7/31/2009 J.P.Morgan Chase Bank, NA Lewisville TX Purchase Financial Instrument for Home Loan Modifications

$ 

420,0

8/5/2009 Oakland Municipal Credit Union Oakland CA Purchase Financial Instrument for Home Loan Modifications 140,0

$ 

8/5/2009 Lake City Bank Warsaw IN Purchase Financial Instrument for Home Loan Modifications

$ 

674,000,0

8/12/2009 Litton Loan Servicing LP Houston TX Purchase Financial Instrument for Home Loan Modifications 774,900,0

$ 

8/5/2009 HomEq Servicing North Highlands CA Purchase Financial Instrument for Home Loan Modifications

$ 

6,210,0

8/12/2009 Servis One, Inc. Titusville PA Purchase Financial Instrument for Home Loan Modifications 29,730,0

$ 

8/12/2009 PennyMac Loan Services, LLC Calasbasa CA Purchase Financial Instrument for Home Loan Modifications

$ 

668,440,0

8/28/2009 Stanford Federal Credit Union Palo Alto CA Purchase Financial Instrument for Home Loan Modifications 300,0

$ 

8/28/2009 OneWest Bank Pasadena CA Purchase Financial Instrument for Home Loan Modifications

8/28/2009 RoundPoint Mortgage Servicing Corporation Charlotte NC Purchase Financial Instrument for Home Loan Modifications $ 

570,0

$ 570,0

9/2/2009 Horicon Bank Horicon WI Purchase Financial Instrument for Home Loan Modifications 560,0

$ 

8/28/2009 RoundPoint Mortgage Servicing Corporation Charlotte NC Purchase Financial Instrument for Home Loan Modifications

9/2/2009 Vantium Capital, Inc. Plano TX Purchase Financial Instrument for Home Loan Modifications $ 

6,000,0
Servicer Modifying Borrowers' Loans

Name of Institution City State 

Date 

Transaction 

Type Investment Description 

Cap of Incentive Paymen

on Behalf of Borrowers a

to Servicers & 

Lenders/Investors (Cap) 

9/9/2009 Central Florida Educators Federal Credit Union Lake Mary FL Purchase Financial Instrument for Home Loan Modifications 1,250, $ 

0

$ 

114,220,0

9/9/2009 CUC Mortgage Corporation Albany NY Purchase Financial Instrument for Home Loan Modifications 4,350,0

$ 

9/9/2009 U.S. Bank National Association Owensboro KY Purchase Financial Instrument for Home Loan Modifications

$ 

2,070,0

9/11/2009 Allstate Mortgage Loans & Investments, Inc. Ocala FL Purchase Financial Instrument for Home Loan Modifications 250,0

$ 

9/11/2009 ORNL Federal Credit Union Oak Ridge TN Purchase Financial Instrument for Home Loan Modifications

$ 

280,0

9/11/2009 Franklin Credit Management Corporation Jersey City NJ Purchase Financial Instrument for Home Loan Modifications 27,510,0

$ 

9/11/2009 Metropolitan National Bank Little Rock AR Purchase Financial Instrument for Home Loan Modifications

$ 

410,0

9/23/2009 AMS Servicing, LLC Buffalo NY Purchase Financial Instrument for Home Loan Modifications 4,390,0

$ 

9/16/2009 Bay Federal Credit Union Capitola CA Purchase Financial Instrument for Home Loan Modifications

$ 

390,0

9/23/2009 Glass City Federal Credit Union Maumee OH Purchase Financial Instrument for Home Loan Modifications 230,0

$ 

9/23/2009 Schools Financial Credit Union Sacramento CA Purchase Financial Instrument for Home Loan Modifications

9/23/2009 Central Jersey Federal Credit Union Woodbridge NJ Purchase Financial Instrument for Home Loan Modifications $ 

30,0

$ 30,0

9/23/2009 Yadkin Valley Bank Elkin NC Purchase Financial Instrument for Home Loan Modifications 240,0

$ 

9/23/2009 Central Jersey Federal Credit Union Woodbridge NJ Purchase Financial Instrument for Home Loan Modifications

9/25/2009 SEFCU Albany NY Purchase Financial Instrument for Home Loan Modifications $ 

440,0
Servicer Modifying Borrowers' Loans

Name of Institution City State 

Date 

Transaction 

Type Investment Description 

Cap of Incentive Paymen

on Behalf of Borrowers a

to Servicers & 

Lenders/Investors (Cap) 

10/14/2009 Great Lakes Credit Union North Chicago IL Purchase Financial Instrument for Home Loan Modifications 570,0

$ 

10/14/2009 Mortgage Clearing Corporation Tulsa OK Purchase Financial Instrument for Home Loan Modifications 4,860,0

$ 

10/21/2009 United Bank Mortgage Corporation Grand Rapids MI Purchase Financial Instrument for Home Loan Modifications 410,0

$ 

10/23/2009 Bank United Miami Lakes FL Purchase Financial Instrument for Home Loan Modifications 93,660,0

$ 

10/23/2009 IC Federal Credit Union Fitchburg MA Purchase Financial Instrument for Home Loan Modifications 760,0

$ 

10/28/2009 Harleysville National Bank & Trust Company Harleysville PA Purchase Financial Instrument for Home Loan Modifications 1,070 $ 

,0

10/28/2009 Members Mortgage Company, Inc Woburn MA Purchase Financial Instrument for Home Loan Modifications 510,0

$ 

10/30/2009 DuPage Credit Union Naperville IL Purchase Financial Instrument for Home Loan Modifications 70,0

$ 

11/6/2009 Los Alamos National Bank Los Alamos NM Purchase Financial Instrument for Home Loan Modifications 700,0

$ 

11/18/2009 Quantum Servicing Corporation Tampa FL Purchase Financial Instrument for Home Loan Modifications 18,960,0

g p p $ 

, ,

11/18/2009 Hillsdale County National Bank Hillsdale MI Purchase Financial Instrument for Home Loan Modifications 1,670,0

$ 

11/18/2009 QLending, Inc. Coral Gables FL Purchase Financial Instrument for Home Loan Modifications 20,0

$ 

11/25/2009 Marix Servicing, LLC Pheonix AZ Purchase Financial Instrument for Home Loan Modifications 20,360,0

$ 

11/25/2009 Home Financing Center, Inc Coral Gables FL Purchase Financial Instrument for Home Loan Modifications 230,0

$ 

11/25/2009 First Keystone Bank Media PA Purchase Financial Instrument for Home Loan Modifications 1,280,0

$ 

12/4/2009 Community Bank & Trust Company Clarks Summit PA Purchase Financial Instrument for Home Loan Modifications 380,0

$ 

12/4/2009 Idaho Housing and Finance Association Boise ID Purchase Financial Instrument for Home Loan Modifications 9,430,0

$ 

12/9/2009 Spirit of Alaska Federal Credit Union Fairbanks AK Purchase Financial Instrument for Home Loan Modifications 360,0

$ 

12/9/2009 American Eagle Federal Credit Union East Hartford CT Purchase Financial Instrument for Home Loan Modifications 1,590,0

$ 

12/9/2009 Silver State Schools Credit Union Las Vegas NV Purchase Financial Instrument for Home Loan Modifications 1,880,0

$ 

12/9/2009 Fidelity Homestead Savings Bank New Orleans LA Purchase Financial Instrument for Home Loan Modifications 2,940,0

$ 

12/9/2009 Bay Gulf Credit Union Tampa FL Purchase Financial Instrument for Home Loan Modifications 230,0

$ 

12/9/2009 The Golden 1 Credit Union Sacramento CA Purchase Financial Instrument for Home Loan Modifications 6,160,0

$ 

12/9/2009 Sterling Savings Bank Spokane WA Purchase Financial Instrument for Home Loan Modifications 2,250,0

$ 

12/11/2009 HomeStar Bank & Financial Services Manteno IL Purchase Financial Instrument for Home Loan Modifications 310,0

$ 

12/11/2009 Glenview State Bank Glenview IL Purchase Financial Instrument for Home Loan Modifications 370,0

$ 

12/11/2009 Verity Credit Union Seattle WA Purchase Financial Instrument for Home Loan Modifications 600,0

$ 
Servicer Modifying Borrowers' Loans

Name of Institution City State 

Date 

Transaction 

Type Investment Description 

Cap of Incentive Paymen

on Behalf of Borrowers a

to Servicers & 

Lenders/Investors (Cap) 

12/11/2009 Hartford Savings Bank Hartford WI Purchase Financial Instrument for Home Loan Modifications 630,0

$ 

12/11/2009 The Bryn Mawr Trust Co. Bryn Mawr PA Purchase Financial Instrument for Home Loan Modifications 150,0

$ 

12/16/2009 Citizens 1st National Bank Spring Valley IL Purchase Financial Instrument for Home Loan Modifications 620,0

$ 

12/16/2009 Golden Plains Credit Union Garden City KS Purchase Financial Instrument for Home Loan Modifications 170,0

$ 

12/16/2009 First Federal Savings and Loan Association of Lakewood Lakewood OH Purchase Financial Instrument for Home Loan Modifications 3,460,0

$ 

12/16/2009 Sound Community Bank Seattle WA Purchase Financial Instrument for Home Loan Modifications 440,0

$ 

12/16/2009 Horizon Bank, NA Michigan City IN Purchase Financial Instrument for Home Loan Modifications 700,0

$ 

12/16/2009 Park View Federal Savings Bank Solon OH Purchase Financial Instrument for Home Loan Modifications 760,0

$ 

12/23/2009 Iberiabank Sarasota FL Purchase Financial Instrument for Home Loan Modifications 4,230,0

$ 

12/23/2009 Grafton Suburban Credit Union North Grafton M 12/23/2009 Grafton Suburban Credit Union North Grafton MA Purchase Financial Instrument for Home Loan Modifications 340,0

Purchase Financial Instrument for Home Loan Modifications $ 

340,0

12/23/2009 Eaton National Bank & Trust Company Eaton OH Purchase Financial Instrument for Home Loan Modifications 60,0

$ 

12/23/2009 Tempe Schools Credit Union Tempe AZ Purchase Financial Instrument for Home Loan Modifications 110,0

$ 

Total Initial Cap $ 23,594,840,00

TOTAL C

1/ The Cap of Incentive Payments represents the potential total amount allocated to each servicer and includes the maximum amount allotted for all payments on behalf of borrowers and payments to The Cap is subject to adjustment based on the total amount allocated to the program and individual servicer usage for borrower modifications. Each adjustment to the Cap is reflected under Adjustm2/ On July 31, 2009, the SPA with Chase Home Finance, LLC was terminated and superseded by new SPAs with J.P. Morgan Chase Bank, NA and EMC Mortgage Corporation. 
U.S. Treasury Department

Office of Financial Stability

Troubled Asset Relief Program

Projected Costs and Liabilities [Section 105(a)(3)(E)]

For Period Ending December 31, 2009

Type of Expense/Liability Amount 

None

Note: Treasury interprets this reporting requirement as 

applicable to costs and liabilities related to insurance contracts 

entered into under the provisions of section 102 of the EESA; 

and the single insurance contract with Citigroup was 

terminated on December 23, 2009.
U.S. Treasury Department

Office of Financial Stability

Troubled Asset Relief Program

Programmatic Operating Expenses [Section 105(a)(3)(F)]

For Period Ending December 31, 2009

Type of Expense Amount

Compensation for financial agents 

and legal firms $159,214,586
U.S. Treasury Department

Office of Financial Stability

Troubled Asset Relief Program

Description of Vehicles Established [Section 105(a)(3)(H)]

For Period Ending December 31, 2009

Date Vehicle Description

None