The U.S. Treasury turned a profit on one of its smallest bank rescues, the Wall Street Journal reported yesterday. While AIG and GM were the two biggest recipients of Troubled Asset Relief Program (TARP) funds, Freeport State Bank was one of the smallest. It got $301,000 under TARP’s main bank rescue–the tiniest sum among the 707 institutions that signed up back in 2008 and 2009. On Wednesday, it repaid in full, according to the Treasury Department. Along the way the Harper, Kan.-based bank paid $61,910 in dividends, enabling taxpayers to make a small profit.
