TITLE

Calif.'s SVB to Raise $300M, Repay Tarp

AUTHOR(S)
Hochstein, Marc
PUB. DATE
November 2009
SOURCE
American Banker;11/18/2009, Vol. 174 Issue 208, p7
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the SVB Financial Group in Santa Clara, California plans to raise hundreds of millions of dollars in a sale of common stock and use most of the proceeds to repay its government-issued capital from the U.S. Treasury Department's Troubled Asset Relief Program (TARP). The parent of the Silicon Valley Bank disclosed the plan after the market closed on Monday, November 16, 2009. The amount of money received by the SVB Financial Group from the TARP program is discussed.
ACCESSION #
45371767

 

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