The largest of the remaining institutions in the federal government’s Troubled Asset Relief Program (TARP) re-paid its $3.5 billion loan today. Regions Financial Corp. (NYSE: RF) has also paid US taxpayers $593 million in interest on the loan it took out in 2008. The US Treasury still holds warrants that would allow it to purchase common stock in Regions.
The US government has now made a profit of $18 billion on the bank bailout portion of the $700 billion TARP fund. The largest outstanding bank loan is now the $1.4 billion bailout advance to Zion Bancorp. (NASDAQ: ZION).
Of the initial TARP fund, about $32 billion is not expected to be returned. The bailout of American International Group Inc. (NYSE: AIG) and the US auto industry bailout account for most of that money.
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