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U.S. Treasury to Sell Bank of Washington’s CPP Holdings

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Posted: Wednesday, July 11, 2012 9:00 am

The U.S. Treasury announced Monday that as part of its ongoing efforts to wind down and recover its remaining Capital Purchase Program (CPP) holdings, it is going to sell the investments it made to 12 banks including Diamond Bankcorp, which operates the Bank of Washington.

The Bank of Washington was issued $20,445,000 in 2009 under the CPP which was part of the Emergency Economic Stabilization Act which also included the Troubled Asset Relief Program (TARP).

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