WASHINGTON – U.S. Senator Mary L. Landrieu, D-La., Chair of the Senate Committee on Small Business and Entrepreneurship made the following remarks after the U.S. Treasury Department announced the release of the another wave of Small Business Lending Fund (SBLF) capital totaling $767 million bringing the total SBLF investment up to 1.8 billion spread among 130 community banks.
“Lafayette, Louisiana joins three other Louisiana cities reaping the benefits of the Small Business Lending Fund,” Senator Landrieu said. “Today, MidSouth Bancorp is opening doors to small businesses in Louisiana giving them the opportunity to gain access to capital to expand their business, hire new workers, and spur innovation in the great state of Louisiana.
“I am pleased to see another Louisiana bank joining the ranks of 130 community banks across the country, and I look forward to seeing the progress in America’s small business growth as a result of this beneficial program,” Senator Landrieu concluded.
MidSouth Bancorp, Inc. is the fourth Louisiana Bank to receive capital through the SBLF. Community Trust Financial Corporation of Ruston received a $48 million SBLF investment on July 6, 2011. Progressive Bancorp, Inc. of Monroe, LA received $12 million on August 3, 2011 and First NBC Bank Holding Company of New Orleans, LA received $37.9 million on August 17, 2011.
According to the U.S. Department of Treasury, the full list of fifty community banks that received $767 million in funding through the next wave of SBLF capital includes the following:
• Central Valley Community Bancorp (Fresno, California), $7.0 million
• GBC Holdings, Inc. (Los Angeles, California), $5.0 million
• First PacTrust Bancorp, Inc. (Chula Vista, California), $32.0 million
• Morgan Capital Corporation (Fort Morgan, Colorado), $3.3 million
• Salisbury Bancorp, Inc. (Lakeville, Connecticut), $16.0 million
• Gulfstream Bancshares, Inc. (Stuart, Florida), $7.5 million
• Florida Shores Bancorp, Inc. (Pompano Beach, Florida), $12.8 million
• First Federal Bancorp, Inc. (Lake City, Florida), $20.0 million
• CBOS Bankshares, Inc. (Merritt Island, Florida), $3.9 million
• HomeBancorp, Inc. (Tampa, Florida), $7.4 million
• Lowndes Bancshares, Inc. (Valdosta, Georgia), $6.0 million
• Bancorp Financial, Inc. (Oak Brook, Illinois), $14.6 million
• First Robinson Financial Corporation, (Robinson, Illinois) $4.9 million
• First Busey Corporation (Champaign, Illinois), $72.7 million
• Southern Illinois Bancorp, Inc. (Carmi, Illinois), $9.0 million
• Prime Banc Corp. (Dieterich, Illinois), $10.0 million
• Horizon Bancorp (Michigan City, Indiana), $12.5 million
• MutualFirst Financial, Inc. (Muncie, Indiana), $28.9 million
• MidSouth Bancorp, Inc. (Lafayette, Louisiana), $32.0 million
• Central Bancorp, Inc. (Somerville, Massachusetts), $10.0 million
• Leader Bancorp, Inc. (Arlington, Massachusetts), $12.9 million
• Katahdin Bankshares, Inc. (Houlton, Maine), $11.0 million
• McLeod Bancshares, Inc. (Shorewood, Minnesota), $6.0 million
• Redwood Financial, Inc. (Redwood, Falls, Minnesota), $6.4 million
• Great Southern Bancorp, Inc. (Springfield, Missouri), $57.9 million
• Liberty Bancshares, Inc. (Springfield, Missouri), $23.0 million
• The Landrum Company (Columbia, Missouri), $20.0 million
• Liberty Bancorp, Inc. (Liberty, Missouri), $16.2 million
• Alerus Financial Corporation (Grand Forks, North Dakota), $20.0 million
• Western State Agency, Inc. (Devils Lake, North Dakota), $12.0 million
• New Hampshire Thrift Bancshares, Inc. (Newport, New Hampshire), $20.0 million
• Crest Savings Bancorp, Inc. (Wildwood, New Jersey), $2.5 million
• The Elmira Savings Bank, FSB (Elmira, New York), $14.1 million
• Alma Bank, (Astoria, New York), $19.0 million
• Columbus First Bancorp, Inc. (Worthington, Ohio), $6.2 million
• Prime Bank Group (Edmond, Oklahoma), $4.5 million
• Codorus Valley Bancorp, Inc. (York, Pennsylvania), $25.0 million
• Emclaire Financial Corp. (Emlenton, Pennsylvania), $10.0 million
• CBT Financial Corp. (Clearfield, Pennsylvania), $10.0 million
• Enterprise Financial Services Group, Inc. (Allison Park, Pennsylvania), $5.0 million
• Carolina Alliance Bank (Spartanburg, South Carolina), $5.0 million
• Magna Bank (Memphis, Tennessee), $18.4 million
• Community First Bancshares, Inc. (Union City, Tennessee), $30.9 million
• FVNB Corp. (Victoria, Texas), $18.0 million
• Veritex Holdings, Inc. (Dallas, Texas), $8.0 million
• The ANB Corporation (Terrell, Texas), $37.0 million
• FB BanCorp (San Antonio, Texas), $12.0 million
• Blue Ridge Bankshares, Inc. (Luray, Virginia), $4.5 million
• County Bancorp, Inc. (Manitowoc, Wisconsin), $15.0 million
• PFSB Bancorporation, Inc. (Pigeon Falls, Wisconsin), $1.5 million
On July 21, 2010, United States Senator Mary L. Landrieu, D-La., and Senator George LeMieux, R-Fla., along with Senators Jeff Merkley, D-Ore., Senator Barbara Boxer, D-Calif., Maria Cantwell, D-Wash., Patty Murray, D-Wash., and Amy Klobuchar, D-Minn, introduced an amendment, S. Amdt. 4500, The Small Business Lending Fund, to increase capital to small businesses struggling to access lines of credit to hire workers, improve their infrastructure and grow their businesses. The LeMieux, Landrieu amendment was projected to inject billions of dollars through healthy community banks into the small business economy , making money for the taxpayer. On September 27, 2010, President Barack Obama signed the bill into law.
The Small Business Lending Fund was endorsed by several organizations including the Louisiana Bankers Association, Independent Community Bankers of America, the American Bankers Association, the National Small Business Association, the National Association for the Self-Employed, Small Business Majority, the National Bankers Association and the Conference of State Bank Supervisors, among others.
