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Updated:
July 9, 2009
Small Banks Not Shying From TARP
Robin Sidel, The Wall STreet Journal
June 27, 2009
Excerpt:
Enterprise Bank has one office, three shareholders and $4 million in fresh capital from the U.S. government's Troubled Asset Relief Program.
"That's not a bailout. That's being patriotic," said Chuck Leyh, president and chief executive of the Allison Park, Pa., bank's parent company, Enterprise Financial Services Group. Enterprise Bank, which has $180 million in assets and turned a first-quarter profit of $85,000, plans to funnel the money it got from the Treasury Department on June 12 into loans to fledgling businesses in western Pennsylvania.
