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Article: Blackhawk Bancorp Receives Preliminary Approval for Entry Into the Capital Purchase Program.
- Article from:
- PR Newswire
- Article date:
- February 4, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BELOIT, Wis., Feb. 4 /PRNewswire-FirstCall/ -- Blackhawk Bancorp, Inc. (BULLETIN BOARD: BHWB) announced today it has received preliminary approval to participate in the U.S. Treasury's voluntary Capital Purchase Program which was created under the Emergency Economic Stabilization Act of 2008. Blackhawk is preliminarily approved to receive $10 million of capital from the U.S. Treasury in the form of preferred stock.
The purpose of the CPP is to allow the U.S. Treasury to make capital investments in healthy financial institutions to promote confidence and stabilization in the economy. This increases Blackhawk's capacity to lend money and make investments in ...
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