Bank Of The Carolinas Corp fka BCAR

[56Chevy]

What about knocking out some of that TARP?
It would certainly look good to get that off their record.

I agree. For the past 5 years TARP has been not only a savior for some of these banks but its' also "cheap" money. Where else would a bank get a $13.179 Million dollars loan @ only 5% interest? The answer is - No where - that's dirt cheap...which could be why BCAR hasn't been in a big rush to pay it back. They have until April 17th of 2014 to pay it back because if they don't the interest rate jumps to a much more sobering 9%.

I like what FSWA did when they worked out a deal with the US Treasury to pay back their TARP loan at a whopping 50% discount. It was a brilliant idea Mr. Fahey worked out for his bank. Not all banks can work out sweet deals like that it depends on how healthy the bank is and whether or not the Treasury thinks your bank is strong enough to pay it all back.

But it wouldn't hurt to ask..right!

Right now the US Treasury is in a 'Let's make a deal' mood...it might be a good idea to catch them before that mood changes ...it could save BCAR nearly $7MM dollars ":~O