Friday, February 27, 2009

Louisiana Bank says bye-bye to TARP

Good, hopefully more bank shareholders will demand their management follow this example.

Link HT: Nashville Post Bidness
We believe recent actions, interpretations, and commentary regarding various aspects of the program places our Company at an unacceptable competitive disadvantage. Our Board of Directors has determined that continued participation in this program is no longer in the best interest of our Company and its shareholders." Byrd continued, "Our Company occupies a unique position of strength, growth, and opportunity relative to other participants in the financial services industry. We are pleased to be able to redeem the Treasury's investment in our Company."