The U.S. Treasury has invested $2.993 million in the parent company of F & C Bank, which is based in Holden, Mo., and operates a branch in Lone Jack in Jackson County.
F & C Bank is a profitable $117 million operation with few loan problems and plenty of capital, according to its March 31 financial report.
In short, it’s the healthy sort of bank the Treasury’s capital purchase program said it would invest in to support the economy.
Bank officials couldn’t be reached late today. But other banks have said they took in TARP money to finance loan business and growth plans.
All the TARP banks pay Uncle Sam interest on the money, which means they must find productive uses for it or they’ll come out short on the deal.
They can raise money from their depositors and would not take TARP money even when asked.