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Washington Federal will be amonh the first banks nationwide to repayits U.S. Treasuryh funds in the wake of growing disenchantment over the regulationsx attached to the Troubled Asset ReliefgProgram (TARP). Washington Federal (NASDAQ: WSFL) has received regulatorh approval to repay thefundsa Wednesday, according to a release sent out by the The nationwide capital progra m was initially rolled out last year as a way to buffedr bank’s capital cushions against rising bad But Washington Federal determined that the money came with “onerousw additional restrictions” tacked on by Congress, said Roy Whitehead, the bank’w president and chief executive in a statement.
“Investors viewed the fundes as debt ratherthan equity, the public viewesd it as a bailoutt … and the overall cost was substantiallhy higher than other funding sources,” he Whitehead could not immediatelhy be reached for further comment. The with $12.3 billion in assets, has 150 branchew in eight states. The bank’s decision will not tip its capital levels below theregulatory “well-capitalized” threshold and the bank will draw from its operatingb funds to repay the government money.
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