Bailout

Capital Flows and the List Grows

By Admin

Capital Flows: The first $125 Billion round of US taxpayer capital will be transferred to the first nine banking holding companies this week.

List Grows: And fifteen regional banks have revealed themselves as recipients of $32.18 Billion from the second round of TARP’s Capital Purchase Program, with another $3.44 Billion imeediately pending:

 PNC Financial Services (PNC: 58.63 -0.42%)    $7.7 billion

 Capital One Financial (COF: 34.40 -2.55%)    $3.55 billion

 Regions Financial (RF: 9.95 +11.30%)          $3.5 billion

 SunTrust Banks (STI: 35.34 +0.66%)            $3.5 billion

 BB&T (BBT: 32.20 -0.16%)                      $3.1 billion

 KeyCorp (KEY: 9.92 -1.98%)                   $2.5 billion

 Comerica (CMA: 25.80 +5.69%)                 $2.25 billion

 State Street Corp (STT: 35.69 -5.11%)         $2.0 billion

 Northern Trust Corp (NTRS: 49.68 +0.28%)      $1.5 billion

 Huntington Bancshares (HBAN: 9.17 +14.63%)    $1.4 billion

 First Horizon National (FHN: 9.58 +10.88%)    $866 million

 City National Corp (CYN: 46.88 +0.58%)        $395 million

 Valley National Bancorp (VLY: 15.44 -1.53%)   $330 million

 UCBH Holdings (UCBH: 4.59 +3.15%)            $298 million

 Washington Federal (WFSL: 15.34 -1.35%)       $200 million

 First Niagara Financial (FNFG: 13.87 +0.36%)  $186 million

 West Bancorp (WTBA: 9.25 -7.50%) seeking shareholder approval to receive between $12 and $26 million.

Fifth Third Bancorp (FITB: 8.47 +4.96%) expecting approval for $3.4 billion.

As a result, this is the first day since the crisis began that the stocks of the regional banks [(KBE: 25.02 -0.48%), (RKH: 82.81 -2.03%), (IAT: 25.76 -0.32%)] are performing better than those of the money center banks [(IYF: 45.90 -4.20%)] as seen reflected in the comparing several financial sector ETFs:

Regional Banks Outperforming Money Centers

Full post as published by Bailout Report on October 27, 2008 (boomark / email).