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56Chevy

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56Chevy

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Re: 1center post# 4

Friday, 03/28/2014 12:24:18 PM

Friday, March 28, 2014 12:24:18 PM

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The bank received the $9.993M TARP money on Jan. 30th, 2009 and the interest rate was set at 5% for 5 years...that deal ended Jan. 30th of 2014 and when it did the interest rate jumped to 9%.

TARP was a savior for that 5 years and at 5% it was relatively cheap money ...but at 9% that savior becomes a bit of a millstone around the neck of the bank.

I can see why they're motivated to pay down their TARP debt.

thanx for the info 1center!

Marker: (Mid-day)
Greer Bancshares, In (GRBS)
$5.00 up 0.1 (2.04%)
Volume: 100



The most common mistake on Ihub involving a bankruptcy is for an equityholder to award himself the full rights and privileges of a creditor.

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