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Susquehanna’s Participation in the Capital Purchase Program
Susquehanna Bancshares, Inc., received $300 million in capital through the U.S.
Treasury Department’s Capital Purchase Program, a voluntary program that provided
capital to financially healthy banks so that they can lend that money back into
their communities. We opted to pursue this source of additional capital funding
because we believe it is in the best interests of our customers, shareholders and
the communities we serve.
Susquehanna has been and continues to be a key player in providing financing to
businesses and consumers in our markets. The capital we received through this government
program is one additional source of funding for loans to local residents and businesses,
which drives economic growth.
It is also important to note that this U.S. Treasury funding is not a give-away
by the government. The Treasury Department made an investment in Susquehanna preferred
shares and is receiving a 5% annual dividend. In the future, the government will
be able to redeem these shares and recoup its investment.
There is no doubt that our country is experiencing severe economic challenges. In
our 100-year history, Susquehanna has developed a record of conservative financial
management and strong credit quality. We have navigated both good and bad economic
times, and we put that experience to work for our customers, shareholders and neighbors
every day.
For more information about our participation in the U.S. Treasury Capital Purchase
Program, please read the
press release
we issued on November 19, 2008.
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