Thursday, July 24, 2014

TIB Announces That It Will Not Participate In TARP

December 9, 2008

Nation’s Largest Bankers’ Bank Remains Well-Capitalized; Asset Quality and Earnings Remain Strong

  Dallas, TX…..TIB-The Independent BankersBank announced today that its Board of Directors and Executive Management has decided to forego the government’s Troubled Assets Relief Program (TARP). In doing so, the bank cited the strong nature of its earnings, asset quality and capital as the reasons it did not need to participate.

 “We weighed the merits of the program versus its ultimate cost to the bank,” noted president and CEO, Michael O’Rourke. “After doing so, it became clear that the program simply did not represent an advantage for us, especially given our continued financial strength and the fact that we remain well-capitalized.” 

 In passing on the TARP funds, O’Rourke noted that, “The bottom line for us is that, because we have been vigilant to remain true to our mission and not stray from our core markets and areas of expertise, TIB is financially healthy and positioned to remain that way throughout this downturn and beyond.”

 TIB is the nation’s largest bankers’ bank, serving more than 1,400 community banks in 46 states, plus Guam and Bermuda. Headquartered in Texas, the bank has offices in New Mexico, Oklahoma, Louisiana, Kansas, Georgia, Washington, Arizona, Oregon, California and Idaho. Current financial data and additional information on TIB can be found at www.mybankersbank.com.

Contact: 
Greg Todd
SVP/Director of Communications
(800) 288-4842
gtodd@mybankersbank.com

 

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