Tenth Colorado bank borrows through TARP
July 6, 2009
By MoneyAisle
According to the Denver Business Journal, Grand Mountain Bancshares, Inc. has voluntarily borrowed $3 million in federal aid.
“The Granby-based bank holding company, parent of Grand Mountain Bank, is the 10th Colorado company to participate in the Capital Purchase Program, which began last fall.
Part of the federal Troubled Asset Relief Program (TARP), it’s a voluntary program under which healthy banks sell preferred equity shares to the government.”