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FACTBOX: Banks announce cash infusions

Mon Oct 27, 2008 6:59pm EDT

(Reuters) - Sixteen U.S. banks have signed up for the government's offer of a cash injection, in addition to the nine that joined the program initially. The injections are a bid to revive the sector, which has suffered since lending has dried up and many loans have gone bad.

Crisis in Credit  |  Economy

The U.S. Treasury Department plans to provide funds for 20 to 22 lenders in the current round of a $250 billion bank recapitalization program.

Nine of the largest U.S. banks, including JPMorgan Chase & Co and Citigroup, received the first $125 billion of capital infusions two weeks ago.

A list of the additional 16 banks that have announced they will use the government funds follows:

PNC Financial Services Group Inc $7.7 billion

Capital One Financial Corp $3.55 billion

Regions Financial Corp $3.5 billion

SunTrust Banks Inc $3.5 billion

BB&T Corp $3.1 billion

KeyCorp $2.5 billion

Comerica $2.25 billion

State Street Corp $2.0 billion

Northern Trust Corp $1.5 billion

Huntington Bancshares $1.4 billion

First Horizon National Corp $866 million

City National Corp $395 million

Valley National Bancorp $330 million

UCBH Holdings Inc $298 million

Washington Federal $200 million

First Niagara Financial Group $186 million

NOTE: West Bancorp said on Friday it was seeking shareholder approval to raise between $12 million and $36 million under the Treasury program. Fifth Third Bancorp said on Sunday it expected to receive Treasury approval for $3.4 billion.

(Reporting by Elinor Comlay; editing by John Wallace)



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