Government Provides $429M To 29 More Banks

By: Associated Press
By: Associated Press

The government says it has provided $429 million to 29 banks in the latest batch of investments under the $700 billion bailout program.

The Treasury Department says the capital infusions bring the total amount the government has invested in banks to almost $200 billion.

Former Treasury Secretary Henry Paulson committed $250 billion of the first $350 billion in the financial rescue program to government purchases of bank stock.

The largest investment in the latest round was $83.8 million to WestAmerica Bancorporation, based in San Rafael, Calif. The smallest was $638,000 to Corning Savings and Loan Association in Corning, Arkansas.

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