3 Idaho Banks Owe TARP Money


0  Updated at 1:21 pm, August 30th, 2011 By: Managing Editor
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(BOISE) – Three Idaho banking companies are in deep financial trouble after failing to pay back millions of dollars in TARP money borrowed during the 2008 financial meltdown. Syringa Bank, Intermountain Community Bank, and Idaho Banking Co. owe a combined $3.5 million in overdue TARP payments. It’s become bad enough that U.S. Treasury officials are now sitting in on board meetings for two of the companies. So far only one Idaho bank has gone under since the economic collapse – the First Bank of Idaho in Ketchum.

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