This story appeared in Bank Digest.
The Treasury Department has announced that taxpayers received a full repayment from Popular, Inc., of $946 million. Popular, the largest bank that remained in the Capital Purchase Program, recently received regulatory approval from the Federal Reserve Board. With this repayment, taxpayers have recovered $1.22 billion of principal and interest from its original investment of $935 million in Popular. Treasury exchanged its CPP preferred stock in Popular for trust-preferred securities in August 2009 as part of a series of capital-strengthening transactions. Taxpayers will continue to hold warrants to purchase an additional 2,093,284 shares of Popular common stock.