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Next! Six More Banks Get TARP Funds

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Six more banks -- four of them in California -- have announced their approval for the Treasury Department's $700 billion Troubled Asset Relief Program. The total amount of taxpayer capital allocated to the companies was $71.7 million.

Middleburg Financial Corp., of Middleburg, Va., said it sold $22 million in preferred stock to the Treasury Department. It announced last week that it turned a $491,000 profit for the fourth quarter, compared to a $2.8 million loss a year earlier. The bank also was profitable for all of 2008, though earnings fell 15 percent.

Read the whole story at BailoutSleuth

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