The list of South Carolina financial institutions taking part in the US Treasury Department’s Capital Purchase Program continues to grow.
Regional Bankshares Inc. of Hartsville received approval for $1.5 million and BankGreenville Financial Corp. of Greenville was okayed for $1 million, according to the US Treasury Department.
For those of you keeping score at home, that brings the number of Palmetto State institutions involved in the bailout to 11:
Total federal dollars sent to SC financial institutions as part of the bailout program now sits at more than $635 million.
Treasury created the Capital Purchase Program, a part of the Troubled Asset Relief Program, to help to stabilize and strengthen the U.S. financial system.
Treasury allocated $250 billion under TARP’s Capital Purchase Program to invest in U.S. financial institutions.