Seventh U.S. bank repays bailout loan
The U.S. Treasury said Friday that Shore Bancshares inc had repaid a $25 million bailout loan on April 15, the seventh bank to do so.
The Treasury made the disclosure today in a transactions report, Reuters reported.
The total amount of returned loans totals $467.3 million.
There are a total of 553 banks participating in the U.S. government's Capital Purchase program, which was designed to help banks with loans during the economic crisis.
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