Western Alliance joins trend of banks paying back TARP funds

by admin on Tuesday, December 13th, 2011 | Comments Off

Phoenix-based Western Alliance Bancorp. (NYSE: WAL) is among 282 lenders that have paid back government-loaned money under the Troubled Relief Asset Program. That’s up 5.2 percent since September 30, when 268 banks had repaid TARP.

Western Alliance redeemed the U.S. Treasury Department’s TARP preferred shares on September 27, according to data provided by SNL Financial.

Nationally, slightly more than one third of the 707 financial institutions that received over $ 700 billion in government-backed assistance during the financial crisis have paid back the government funds…