Troubled Assets Relief Program (TARP) Monthly 105(a) Report - August 2010 September 10, 2010 This report to Congress is pursuant to Section 105(a) of the Emergency Economic Stabilization Act of 2008. Monthly 105(a) Report Section Key Developments August 2010 Page .................................................................................................................................. 3 Where is TARP Money Going? ........................................................................................................................................... 4 o Existing TARP Budget; Commitments, Disbursements and Repayments Program Updates ......................................................................................................................................... 7 o o o Dividends and Interest Capital Purchase Program Automotive Industry Financing Program Consumer and Bank Lending Initiatives Community Development Capital Initiative SBA 7(a) Securities Purchase Program o o o Home Affordable Modification Program Hardest Hit Fund For Your Information - Links to Other TARP Reports ..................................................................................... 15 Certification ............................................................................................................................................ Appendices Appendix 1 - Description of TARP Programs & How Treasury Exercises Its Voting Rights Appendix 2 - Financial Statement 16 Monthly 105(a) Report Treasury is pleased to present the Office of Financial Stability's Monthly 105(a) Report for August 2010. August 2010 The Troubled Assets Relief Program or TARP was established pursuant to the Emergency Economic Stabilization Act of 2008 or EESA. This law was adopted on October 3, 2008 in response to the worst financial crisis since the Great Depression. Treasury has used the TARP authority to make investments that have helped to stabilize the financial system, restore confidence in the strength of our financial institutions, restart markets that are critical to financing American households and businesses, and prevent avoidable foreclosures in the housing market and keep people in their homes. The actions taken under TARP, together with the American Recovery and Reinvestment Act of 2009 and other actions taken by the government, succeeded in helping to stabilize the financial system and restore the conditions necessary for economic growth. Moreover, TARP did so faster, and at a much lower cost, than anticipated. Final authority to make commitments under TARP will expire on October 3, 2010. Thereafter, Treasury will continue to wind down TARP and will continue to manage remaining investments in a way that protects taxpayers and supports our financial and economic recovery. Specifically: o o Treasury has recovered more than 75 percent of the TARP funds provided to banks, and expects these capital support programs to provide a positive return to taxpayers. As a result of improved economic conditions and careful stewardship, the expected cost of TARP continues to fall. In the MidSession Review of the President's 2010 Budget last August, the cost of TARP was projected to be $341 billion; as of the Mid-Session review of the 2011 Budget, the estimated cost of TARP was over $225 billion lower. 1 The passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act will accelerate the wind down of the Troubled Assets Relief Program. Treasury has revised the TARP budget so that total expenditures will not exceed $475 billion, roughly onethird lower than the $700 billion originally authorized. Of the $475 billion authorized and $386 billion paid out, Treasury has recovered nearly $200 billion to date, and expects to recover most of the funds that have been invested. o o While our economy continues to go through a difficult period, the actions taken under TARP have put us in a much stronger position to address the challenges we continue to face. 1 Projected cost represents deficit impact. 2 Monthly 105(a) Report Key Developments The following key developments took place during August 2010: o Return on TARP investments August 2010 Treasury received $666 million in dividends, interest and distributions from TARP investments, including approximately $333 million under the Capital Purchase Program and $311 million in dividend income from Ally Financial (GMAC). Cumulative income from all TARP programs is now more than $25 billion. Also under the Capital Purchase Program, Treasury received repayments of $123 million from three banks. o General Motors Initial Public Offering General Motors filed a registration statement with the Securities and Exchange Commission for an initial public offering of its common stock. Treasury agreed to be named as a selling shareholder. The offering is expected to occur before the end of the year. Treasury will retain the right, at all times, to decide whether and at what level to participate in the public stock offering. o Community Development Capital Initiative for small banks Treasury continues to implement this initiative under which capital is provided to community development financial institutions which serve communities underserved by traditional financial institutions. Nine financial institutions exchanged approximately $84.3 million of Capital Purchase Program investments for an equivalent amount of investment with Treasury. Treasury made an additional investment of $22.8 million in one institution at the time of the exchange. o Housing programs Hardest Hit Fund. Treasury announced the third funding under the Hardest Hit Fund program to allocate $2 billion to seventeen states and the District of Columbia that have been hardest hit by high unemployment. The states include Alabama, California, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Mississippi, Nevada, New Jersey, North Carolina, Ohio, Oregon, Rhode Island, South Carolina, and Tennessee. Plans from state Housing Finance Agencies in North Carolina, Ohio, Oregon, Rhode Island, and South Carolina in the second Hardest Hit Fund program were approved in August. The state agencies can begin to use the $600 million allocation of funds for initiatives that prevent avoidable foreclosures by assisting struggling homeowners in five states with high concentrations of people living in economically distressed areas. Home Affordable Modification Program. The Servicer Performance Report through July 2010 with data on Treasury's housing programs was released, and the Department of Housing and Urban Development (HUD) and Treasury released the third Housing Scorecard with data on the nation's housing market. 3 Monthly 105(a) Report Where is TARP Money Going? August 2010 Treasury has used the TARP authority to make investments that have helped to stabilize the financial system, restore confidence in the strength of our financial institutions, restart markets that are critical to financing American households and businesses, and prevent avoidable foreclosures in the housing market and keep people in their homes. A large part of the total investments occurred in 2008 under the Capital Purchase Program. The commitments made in 2009 and 2010 include amounts extended under the Obama Administration's Financial Stability Plan. These include funds committed under Treasury's Housing Programs Under TARP, the Legacy Securities Public Private Investment Program, the Automotive Industry Financing Program, the Community Development Capital Initiative and the SBA 7(a) Securities Purchase Program, and the other programs described below and in Appendix 1. 2 Existing TARP Budget; Commitments, Disbursements and Repayments As of August 31, 2010, not more than $475 billion had been planned for TARP programs and of that amount, approximately: o o o $460 billion has been committed under signed contracts. $386 billion has been paid out by Treasury under those contracts. $199 billion has been repaid to Treasury. The charts below show, as of August 31, 2010: (i) A summary of the planned TARP investment amounts together with the total funds disbursed and investments that have been repaid by program; and (ii) The amount of TARP investments by both the amount obligated - or committed for investment - and the amount disbursed or actually paid out, over each month since inception. 2 Taxpayers can track progress on all of the financial stability programs on Treasury's website www.FinancialStability.gov. Specifically, taxpayers can look at investments and repayments within two business days of closing in the TARP transaction reports at www.FinancialStability.gov/latest/reportsanddocs.html. 4 Monthly 105(a) Report Figure 1: TARP Summary through August 2010 ($ billions) 3 August 2010 Planned Investments Capital Purchase Program Citigroup repayment* Targeted Investment Program Asset Guarantee Program Consumer and Business Lending Initiative** Legacy Securities Public-Private Investment Program AIG Auto Industry Financing Program Treasury Housing Programs*** Totals $ $ $ $ $ $ $ $ 204.89 40.00 5.00 5.48 22.41 69.84 81.76 45.63 $475.00 ** Commitments $ $ $ $ $ $ $ $ 204.89 40.00 0.00 5.37 22.41 69.84 81.76 $460.12 Total Disbursed Repayments $ $ $ $ $ $ $ 204.89 40.00 0.00 0.32 13.51 47.54 79.69 $386.40 $ $ $ $ $ $ $ $ 139.05 8.48 40.00 0.00 0.00 0.37 0.00 11.20 0.00 $199.09 30.86 *** $ 0.44 *** $ * Of the $10.51 billion in proceeds from Citigroup common stock sales as of June 30, 2010, $8.48 billion is reflected as repayment, and $2.03 billion is reflected as income (see Figure 5). Together with the other Capital Purchase Program (CPP) repayments, the total amount of CPP repayments is $147.53 billion. ** $5.48 billion has been reserved for the Consumer and Business Lending Initiative, of which $4.3 billion has been allocated to TALF. $400 million is planned for SBA 7(a) purchases and $780 million is planned for the Community Development Capital Initiative. *** Planned TARP funds for housing include (i) approximately $30.6 billion in funds that may be provided to servicers under existing agreements for the Making Home Affordable Program (MHA), (ii) $4.1 billion for the Hardest Hit Fund program and (iii) not more than $11 billion which will be used for the FHA Refinance Program. 3 Numbers in text and tables in this report may not add up because of rounding. 5 Monthly 105(a) Report Figure 2: Funds committed and paid out under TARP from October 2008 through August 2010 August 2010 $180 $540 $160 $480 $140 $420 $120 $360 Billions $100 $300 $80 $240 $60 $180 $40 $120 $20 $60 $0 $0 Amount Committed to Specific Institutions Each Month (Left Scale) Cumulative Amount Committed to Specific Institutions (Right Scale) Amount Paid Out in Each Month (Left Scale) Cumulative Amount Paid Out (Right Scale) 6 Monthly 105(a) Report Program Updates Dividends and Interest Most of the TARP money has been used to make investments in preferred stock or loans of financial institutions. o o In August, Treasury received approximately $666 million in dividends, interest and distributions from TARP investments. August 2010 Cumulative proceeds from TARP investments has reached more than $25 billion, consisting of more than $18 billion of dividends, interest, distributions and other income, and more than $7 billion of warrant sales from Capital Purchase Program and the Targeted Investment Program investments. Treasury's Dividends and Interest Reports for TARP programs are available at http://www.FinancialStability.gov/latest/reportsanddocs.html. Figure 3 shows total income from dividends, interest and distributions, other income and warrant sales in all TARP programs. Figure 3: Total dividends, warrant proceeds and other income from TARP investments through August 2010 ($ billions) TIP $3.00 AIFP $2.61 AGP $0.41 PPIP $0.14 CPP $11.83 CPP & TIP Warrant Proceeds $7.20 Other Income $0.14 7 Monthly 105(a) Report Capital Purchase Program August 2010 Treasury created the Capital Purchase Program in October 2008 to stabilize the financial system by providing capital to viable banks of all sizes throughout the nation. This program is now closed; Treasury estimates the program will result in a positive return for taxpayers. Of the approximately $205 billion invested, more than $148 billion has already been repaid. 4 Figure 4 shows the cumulative Capital Purchase Program activity since program inception. Figure 4: Capital Purchase Program Snapshot since inception CPP Cumulative Investments Number of Institutions: Amount Invested: Largest Investment: Smallest Investment: * Bank s in 48 states, D.C. and Puerto Rico CPP Repayments Total Amount of Repayments: Citigroup Repayments:* CPP Income to Treasury Total Dividends and Interest: $9.80 billion August Dividends and Interest: $332.60 million Citigroup Income:* $2.03 billion Total Fee Income: $13 million 707 $205 billion $25 billion $301,000 Total Warrant Income:** $7.20 billion** $139.05 billion Number of Institutions: 64 $8.48 billion CPP Repurchase Amount: $3.12 billion CPP & TIP Auction Amount: $4.08 billion Number of Institutions Fully Repaid: 80 Number of Institutions Partially Repaid: 9 Number of Institutions Exchanged to CDCI: 11 CPP Total Income: $19.03 billion * Represents repayment and income as of June 30, 2010, ** Includes TIP warrants and proceeds from exercised warrants respectively, from $10.51 billion of proceeds Repayments Under the Capital Purchase Program, Treasury received repayments of $123 million from three banks. 80 of the banks that received investments under the Capital Purchase Program have repaid Treasury in full. Treasury continues to work with federal banking regulators who must evaluate requests from banks interested in repaying Treasury's investment. In August, nine banks exchanged Treasury's investments into the Community Development Capital Initiative (see below). 4 Further information on the Capital Purchase Program is available in Appendix 1 and at http://www.FinancialStability.gov/roadtostability/capitalpurchaseprogram.html. 8 Monthly 105(a) Report Dividends and Interest Dividends and interest received from Capital Purchase Program received in August was approximately $333 million. Cumulative dividends and interest received from Capital Purchase Program investments is approximately $9.8 billion. Missed Payments August 2010 For the quarterly dividend payment in August, 123 institutions missed payments, excluding the four institutions that have entered bankruptcy or receivership at the time the quarterly payment was due, consisting of 96 cumulative dividend payments (approximately $41.5 million), 19 noncumulative dividend payments (approximately $1.8 million), and 8 S-corporation interest payments (approximately $1.6 million). At month-end, 21 banks have missed four payments, 15 banks have missed five, 6 banks have missed six, and one bank has missed seven. Board Observers and Directors Each bank in the Capital Purchase Program entered into a securities purchase agreement with Treasury that provides for the payment of dividends (or interest) at a certain rate. Treasury does not have a contractual right to demand these quarterly payments. Rather, under corporate law and the governing contracts, the bank's board of directors, using the directors' best business judgment, decides when and how to deploy the institution's capital including whether to make dividend (or interest) payments. However, Treasury has the contractual right to nominate up to two members to the board of directors of an institution after an institution has six unpaid quarterly dividend (or interest) payments. If an institution misses five dividend (or interest) payments, Treasury may request permission to send qualified members of the Office of Financial Stability staff to act as observers to help determine how to best exercise its contractual rights to nominate up to two directors. If the right to nominate members to the board of directors becomes exercisable, Treasury will determine whether to nominate up to two members. This determination will be based on Treasury's evaluation of the condition and health of the institution and the functioning of its board of directors, including the information provided by the observers. If Treasury decides to nominate directors, Treasury will then nominate such members from a list of suitable candidates screened by executive search firms engaged by Treasury for this purpose. Unlike observers, government employees may not act as directors to banks participating in the Capital Purchase Program. The information provided by the observer will help Treasury prioritize the nomination of directors at banks that have six unpaid dividend payments and select the best candidates for such positions. In this manner, Treasury can protect the interests of the taxpayer by reducing costs without forgoing its contractual rights under the securities purchase agreement. Treasury will prioritize institutions in part based on whether its investment exceeds $25 million. Further information regarding Treasury's right to nominate members to an institution's board of directors, and FAQs on the subject, is available at http://www.FinancialStability.gov/roadtostability/capitalpurchaseprogram.html. 9 Monthly 105(a) Report Dispositions August 2010 The overriding objective of EESA was to "restore liquidity and stability to the financial system of the United States" in a manner which "maximizes overall returns to the taxpayers." Consistent with the statutory requirement, Treasury's four portfolio management guiding principles for the TARP are: (i) protect taxpayer investments and maximize overall investment returns within competing constraints; (ii) promote stability for and prevent disruption of financial markets and the economy; (iii) bolster market confidence to increase private capital investment; and (iv) dispose of investments as soon as practicable, in a timely and orderly manner that minimizes financial market and economic impact. o Ongoing Citigroup common stock sales Pursuant to the June 2009 Exchange Agreement between Treasury and Citigroup, which was part of a series of exchange offers conducted by Citigroup to strengthen its capital base, Treasury exchanged the $25 billion in preferred stock it received in connection with Citigroup's participation in the Capital Purchase Program for approximately 7.7 billion shares of common stock at a price of $3.25 per share. In July, Treasury entered into a third pre-arranged written trading plan with its sales agent that provided discretionary authority to sell 1.5 billion additional shares under certain parameters. Because Treasury will not sell shares during the blackout period set by Citigroup in advance of its third quarter earnings release, which period is expected to begin on October 1, 2010, this third trading plan will terminate on September 30, 2010 even if all shares have not been sold by that time. 5 Under the two previous trading plans, and as of June 30, 2010, Treasury sold approximately 2.6 billion shares of Citigroup common stock at an average price per share of $4.03, for total gross proceeds of approximately $10.5 billion. To enable these sales, Citigroup filed a prospectus supplement with the Securities and Exchange Commission covering Treasury's common stock. These sales of common stock do not include Treasury's holdings of Citigroup trust preferred securities or warrants for common stock. o Exchange for other securities In limited cases, in order to protect the taxpayers' interest in the value of a Capital Purchase Program investment and promote financial stability, Treasury may participate in exchanges of preferred stock for other securities or in a direct disposition of the investment to new investors who are able to provide fresh equity investment, conduct a capital restructuring or otherwise strengthen the capital position of the bank. 5 In August, Treasury sold approximately 680 million shares of Citigroup common stock at an average price per share of $3.846, for gross proceeds of approximately $2.615 billion. 10 Monthly 105(a) Report August 2010 Treasury completed the exchange of its $303 million of preferred stock in Sterling Financial Corporation (Sterling) for a like amount of mandatorily convertible preferred stock, pursuant to the terms of the exchange agreement between Treasury and Sterling from April 2010. Since Sterling also fulfilled the conversion conditions set forth in the mandatorily convertible preferred stock, including those related to its capital plan, Treasury's $303 million of mandatorily convertible preferred stock was then converted into 378,750,000 shares of common stock. Following the completion of the conditions related to the capital plan of Pacific Capital Bancorp, Treasury exchanged its $180.63 million of preferred stock in Pacific Capital for $195.05 million of mandatorily convertible preferred stock, equivalent to the initial investment amount plus capitalized previously accrued and unpaid dividends. Subject to the fulfillment by Pacific Capital of certain conditions, including regulatory approval and the completion of an increase in authorized shares available for conversion, the mandatorily convertible preferred stock may be subject to early conversion into common stock at the option of Pacific Capital. Treasury entered into an exchange agreement with Hampton Roads Bankshares, Inc. (Hampton Roads) to exchange Treasury's $80.35 million of preferred stock for an equivalent amount of mandatorily convertible preferred stock. Completion of the exchange is subject to certain closing conditions, including receipt of regulatory approvals and the satisfactory completion of a capital plan. Automotive Industry Financing Program General Motors filed a registration statement with the Securities and Exchange Commission for an initial public offering of its common stock. Treasury agreed to be named as a selling shareholder. The offering is expected to occur before the end of the year. Treasury will retain the right, at all times, to decide whether and at what level to participate in the public stock offering. Treasury received approximately $311 million in dividend income from Ally Financial (GMAC). Consumer and Business Lending Initiatives Community Development Capital Initiative In August, nine financial institutions exchanged their Capital Purchase Program investment for an equivalent amount of investment with Treasury under the Community Development Capital Initiative (CDCI) program terms. The total investment amount exchanged was approximately $84.3 million. Treasury made an additional investment of $22.8 million in one institution at the time of the exchange. Small Business and Community Lending Initiatives - SBA 7a Securities Purchase Program Treasury developed a program to purchase SBA-guaranteed securities ("pooled certificates") from pool assemblers to help support the market for small business lending. As of month-end, Treasury has agreed to purchase or has already purchased securities in an aggregate purchase face amount of approximately $262 million. 11 Monthly 105(a) Report Home Affordable Modification Program Program guidance and operational improvements August 2010 As part of continued operational improvements for the housing programs, Treasury released the Handbook for Servicers of Non-GSE Mortgages, to provide a consolidated resource for guidance related to Treasury's housing programs including the Home Affordable Modification Program, the Home Affordable Unemployment Program, the Home Affordable Foreclosure Alternatives Program, the Second Lien Modification Program, and mortgage loans insured or guaranteed by a federal government agency. The handbook can be accessed at https://www.hmpadmin.com/portal/docs/hamp_servicer/mhahandbook.pdf. In August, Treasury also released new Supplemental Directives for the housing programs: o o SD 10-07, Interactions with HFA Hardest Hit Fund Programs, which details the roles and responsibilities of participating servicers in connection with the Hardest Hit Fund programs, and to ensure that borrowers are properly evaluated for the appropriate programs. SD 10-08, Treasury/FHA Second Lien Program to Support FHA Refinance of Borrowers in Negative Equity Positions, which provides guidance to first and second lien servicers on how to adopt and implement the new FHA Refinance Program and Treasury/FHA Second Lien Program. SD 10-09, Handbook for Servicers, announced the issuance of the Handbook as described above. o Housing Scorecard and Servicer Performance Report Also in August, the U.S. Department of Housing and Urban Development (HUD) and Treasury released the third Housing Scorecard on the nation's housing market. Each month, the scorecard incorporates key housing market indicators and highlights the impact of housing recovery efforts, including assistance to homeowners through the Federal Housing Administration (FHA) and the TARP Home Affordable Modification Program. The Housing Scorecard now incorporates the monthly Servicer Performance Report. The Housing Scorecard is available at http://portal.hud.gov/portal/page/portal/HUD/documents/august_scorecard.pdf. The Servicer Performance Report Through July 2010 is available at http://www.financialstability.gov/docs/JulyMHAPublic2010.pdf. Highlights from report include: o Modifications Permanent modifications exist for approximately 422,000 homeowners, and nearly 37,000 trial modifications converted to permanent modifications in July. Trial modification starts were lower, as servicers transition to upfront verification of documentation. 12 Monthly 105(a) Report August 2010 Borrowers in permanent modifications are experiencing a median payment reduction of 36 percent, more than $500 per month. o Servicers continue to work through aged trial population The number of active trials initiated at least six months ago has decreased from 166,000 to 118,000. Two servicers account for half of the aged trials pending a decision. Homeowners are not subject to foreclosure sale while decisions are being made. As servicers work through this population, they are making extensive efforts to obtain documentation. Servicers indicate that the remaining decisions on aged trial modifications should be made in August. The most common causes of cancellations include insufficient documentation, missed trial payments, or mortgage payments already less than 31% of the homeowner's income. Servicers reported that more than half of homeowners in canceled trials receive alternative modifications, become current, or pay off the loan completely. As a result of the requirement that servicers verify borrower eligibility through documentation prior to initiating trials on or after June 1, cancellation activity for new trials is expected to gradually decline. However, the number of new cancellations is expected to exceed the number of new permanent modifications for the next few months as servicers clear their backlog of aged trials. o New outreach initiatives Treasury and HUD partnered with the Ad Council in a public service advertising campaign featuring homeowners who received HAMP modifications. The advertisements, in English and Spanish, were launched in late July, are being distributed to more than 33,000 media outlets nationwide. Hardest Hit Fund Announcement of $2 billion in additional support for targeted foreclosure prevention programs to help homeowners struggling with unemployment Through the existing Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets (Hardest Hit Fund), Treasury will make $2 billion of additional assistance available for state Housing Finance Agency programs for homeowners struggling to make their mortgage payments due to unemployment. States eligible to receive this additional assistance have all experienced an unemployment rate at or above the national average over the past twelve months. Each state will use the funds for targeted unemployment programs that provide temporary assistance to eligible homeowners to help them pay their mortgage while they seek re-employment, additional employment or undertake job training. 13 Monthly 105(a) Report August 2010 States that have already benefited from previously announced assistance under the Hardest Hit Fund may use these additional resources to support the unemployment programs previously approved by Treasury or they may opt to implement a new unemployment program. States that do not currently have Hardest Hit Fund unemployment programs must have submitted proposals to Treasury by September 1, 2010 that, within established guidelines, meet the distinct needs of their state. The states eligible to receive funds through this additional assistance, along with allocations based on their population sizes, are as follows: State Alabama California Florida Georgia Illinois Indiana Kentucky Michigan Mississippi ($ in millions) $60.67 $476.26 $238.86 $126.65 $166.35 $82.76 $55.59 $128.46 $38.04 State Nevada New Jersey North Carolina Ohio Oregon Rhode Island South Carolina Tennessee Washington, DC ($ in millions) $34.06 $112.20 $120.87 $148.73 $49.29 $13.57 $58.77 $81.13 $7.73 Approval of plans for the $600 million Hardest Hit Fund foreclosure prevention assistance for states with high percentages of their population living in areas of economic distress In August, HFAs in North Carolina, Ohio, Oregon, Rhode Island, and South Carolina could begin to use the $600 million in foreclosure-prevention assistance from the Hardest Hit Fund under plans approved by Treasury. The assistance will support local initiatives to assist struggling homeowners in these five states that have high percentages of their populations living in areas of concentrated economic distress due to unemployment. After the five HFAs submitted their Hardest Hit Fund proposals, Treasury reviewed each state's proposal to ensure compliance with the Emergency Economic Stabilization Act of 2008 and to offer technical assistance to develop performance and reporting metrics. These states will now begin to set up and execute their specific Hardest Hit Fund programs to provide relief to homeowners as soon as possible. Specific implementation timing will vary based on the types of programs offered, specific procurement procedures, and other factors in each individual state. Each state HFA will release more information in the near future about when they will begin to accept homeowner applications. For further information regarding the Hardest Hit Fund, including a state-by-state summary of, and links to copies of the approved proposals, please visit http://www.FinancialStability.gov/roadtostability/hardesthitfund.html. 14 Monthly 105(a) Report For Your Information - Links to Other TARP Reports Office of Financial Stability, U.S. Department of the Treasury o o Financial Stability website: www.FinancialStability.gov August 2010 Office of Financial Stability Agency Financial Report Fiscal Year 2009: http://www.USTreas.gov/press/releases/OSF%20AFR%2009.pdf Warrant Sales o o Warrant Disposition Reports: www.FinancialStability.gov/latest/reportsanddocs.html Treasury Analysis of Warrant Auction Results (March 18, 2010): www.Treas.gov/offices/economic-policy/reports/Auction-Analysis-3-182010.pdf Public-Private Investment Program Quarterly Reports o www.FinancialStability.gov/roadtostability/legacysecurities.html#reports Housing Programs o o o o o Monthly Servicer and Performance Reports: www.FinancialStability.gov/latest/reportsanddocs.html Making Home Affordable website: www.MakingHomeAffordable.gov Home Affordable Modification Program website (includes Supplemental Directives and the MHA Handbook): www.HMPadmin.com Monthly Housing Scorecard from the U.S. Department of Housing and Urban Development (HUD): www.HUD.gov/scorecard HFA Hardest Hit Fund: www.FinancialStability.gov/roadtostability/hardesthitfund.html Executive Compensation - Office of the Special Master for Executive Compensation o www.FinancialStability.gov/about/executivecompensation.html Congressional Testimony o Links to written testimony given by Treasury officials before Congress are available at: www.FinancialStability.gov/latest/pressreleases.html 15 Monthly 105(a) Report Certification August 2010 As Assistant Secretary for Financial Stability at the United States Department of the Treasury, I am the official with delegated authority to approve purchases of troubled assets under the Troubled Assets Relief Program. I certify to the Congress that each decision by my office to approve purchases of troubled assets during this reporting period was based on the office's evaluation of the facts and circumstances of each proposed investment, including recommendations from regulators, in order to promote financial stability and the other purposes of the Emergency Economic Stabilization Act of 2008. _______________________ Herbert M. Allison, Jr. Assistant Secretary Office of Financial Stability Monthly 105(a) Report Appendix 1 Description of TARP Programs & How Treasury Exercises Its Voting Rights Section I. The Emergency Economic Stabilization Act of 2008 ............................................................................. o TARP purchase authority reduced to maximum $475 billion II. Description of TARP Programs ........................................................................................................ Bank Capital Programs ................................................................................................................... o Capital Purchase Program o SCAP and CAP (Stress Tests) o Asset Guarantee Program o Targeted Investment Program AIG ............................................................................................................................................... Automotive Industry Financing Program ........................................................................................... Consumer & Business Lending Initiative ........................................................................................... Bank Lending Surveys ..................................................................................................................... Public Private Investment Program ....................................................................................................... Home Affordable Modification Program .............................................................................................. Hardest Hit Fund.............................................................................................................................. Executive Compensation.................................................................................................................. III. How Treasury Exercises Its Voting Rights .......................................................................................... 4 4 August 2010 Page 2 8 9 12 14 15 17 21 25 29 Monthly 105(a) Report I. The Emergency Economic Stability Act of 2008 August 2010 The Troubled Assets Relief Program or TARP was established by Treasury pursuant to the Emergency Economic Stabilization Act of 2008 or EESA. This law was adopted on October 3, 2008 in response to the worst financial crisis since the Great Depression. To carry out its duties, Treasury has used the TARP authority to make investments that have helped to stabilize the financial system, restore confidence in the strength of our financial institutions, restart markets that are critical to financing American households and businesses, and prevent avoidable foreclosures in the housing market and keep people in their homes. Together with the American Recovery and Reinvestment Act of 2009, TARP succeeded in helping to stabilize the financial system and restore the conditions necessary for economic growth. Moreover, TARP did so faster, and at a much lower cost, than anticipated. Final authority to make commitments within the reduced TARP authorization will expire in October 2010. Treasury will continue to manage remaining investments in a way that protects taxpayers and supports our financial and economic recovery. TARP purchase authority reduced to maximum $475 billion The enactment in July 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Reform Act") furthers the effort, already well underway, to wind down TARP and reduce its cost by making the following changes: 1) Total TARP purchase authority is reduced from $700 billion to $475 billion; 2) Repayments of amounts invested under TARP, which total almost $200 billion, cannot be used to increase the purchase authority and are dedicated to reducing the debt; and 3) Obligations cannot be incurred for any program or initiative that was not initiated prior to June 25, 2010. Key changes in the TARP purchase authority include: o Term Asset-Backed Securities Loan Facility (TALF): This program succeeded in helping to restart the securitization markets and is now closed; no new loans are being made. Because the facility is smaller than originally anticipated, Treasury's commitment was reduced from $20 billion to approximately $4.3 billion. Section (7a) Securities Purchase Program: Not more than $400 million will be spent on this program, which is designed to help the small business lending market. Small business lending initiatives: TARP no longer includes $30 billion for initiatives in this area. As proposed by the Obama Administration, legislation to create a $30 billion Small Business Lending Fund outside of TARP is under consideration by Congress. Public Private Investment Program: Approximately $22 billion has been committed in debt and equity capital to the eight funds. The program did not use its planned commitment size because there was less aggregate demand from private sector investors due to improved market conditions for legacy non-agency residential and commercial mortgage-backed securities. Appendix 1 - page 2 o o o Monthly 105(a) Report o August 2010 Automotive Industry: Treasury committed $82 billion toward the restructuring of GM, Chrysler and the automotive financing companies. Treasury has recovered $11 billion and is working with the companies to dispose of its remaining investments as soon as practicable. Approximately $3 billion of commitments were unused in the Automotive Supplier Support Program, which is now closed after full repayment to Treasury. Housing: A total of approximately $46 billion, a reduction of $3 billion, is allocated for all housing programs and initiatives that address the housing crisis. These include the Home Affordable Modification Program, the Hardest Hit Fund, in which funds are provided for innovative programs in areas hit hardest by the housing crisis, and a program with the FHA to provide additional refinancing options to homeowners who owe more than their home is worth due to large price declines. o TARP purchase authority reduced to $475 billion Figure 1 below shows the changes in the planned commitments under TARP as announced by Treasury before and after passage of the Reform Act. TARP PROGRAM Capital Purchase Program Targeted Investment Program Asset Guarantee Program AIG Term Asset-Backed Securities Loan Facility SBA 7(a) Community Development Capital Initiative Small Business Lending Fund Public Private Investment Program Automotive Industry Financing Program Housing/HAMP* Total Previous Allocation $204.9 $40.0 $5.0 $69.8 $20.0 $1.0 $0.8 $30.0 $30.4 $84.8 $48.7 $535.5 Change (US$, billions) New Allocation $204.9 $40.0 $5.0 $69.8 $4.3 $0.4 $0.8 $0.0 $22.4 $81.8 $45.6 $475.0 * -$15.7 -$0.6 $0.0 -$30.0 -$7.9 -$3.1 -$3.1 -$60.5 * Net of $1.26 billion used to offset the cost of the "Helping Families Save Their Homes Act of 2009", Public Law 111-22 Appendix 1 - page 3 Monthly 105(a) Report II. Program Descriptions What is the Capital Purchase Program (CPP)? o August 2010 Treasury created the Capital Purchase Program in October 2008 to stabilize the financial system by providing capital to viable banks of all sizes throughout the nation. Under this program, Treasury invested in banks and other financial institutions to increase their capital. With a strengthened capital base, banks have an increased capacity to invest in assets, lend to businesses and consumers and to support the U.S. economy. The CPP investment amount was determined by the size of the bank: no less than one percent and no greater than three percent (five percent for small banks) of the recipient's risk-weighted assets. Although many banks were fundamentally sound, because of the capital restraints caused by the troubled market conditions, they were hesitant to lend. The level of confidence between banks and other financial institutions was also low, so they were unwilling to lend to each other. Restoring capital and confidence is essential to allowing the financial system to work effectively and efficiently. The CPP remained open through 2009 for investments in small banks, with terms aimed at encouraging participation by small community banks that are qualified financial institutions (QFIs) under CPP terms. The last application deadline was in November 2009 and final investments occurred in December 2009. This program is now closed. Treasury expects the CPP will result in a positive return for taxpayers. o o o How does the CPP work? o o Treasury purchased senior preferred shares and other interests from qualifying U.S.-controlled banks, savings associations, and other financial institutions. Treasury also receives warrants to purchase common shares or other securities from the banks. Banks participating in the CPP pay Treasury dividends on the preferred shares at a rate of five percent per year for the first five years following Treasury's investment and at a rate of nine percent per year thereafter. S-corporation banks pay an interest rate of 7.7 percent per year for the first five years and 13.8 percent thereafter. Preferred shares (or stock) are a form of ownership in a company. Banks may repay Treasury under the conditions established in the purchase agreements as amended by the American Recovery and Reinvestment Act. Treasury also has the right to sell the securities. The repayment price is equal to what Treasury paid for the shares, plus any unpaid dividends or interest. o Appendix 1 - page 4 Monthly 105(a) Report o August 2010 The charts below show the number of banks by investment amount (left) and total CPP funds disbursed by investment amount (right). 450 $200 $189.46 400 $180 381 $160 350 $140 300 271 $120 250 $100 200 $80 150 $60 100 55 50 $40 $20 $2.15 $13.29 0 $12 million or less > $12 million - $250 million > $250 million $0 $12 million or less > $12 million - $250 million > $250 million o When a publicly-traded bank repays Treasury for the preferred stock investment, the bank has the right to repurchase its warrants. The warrants do not trade on any market and do not have observable market prices. If the bank wishes to repurchase warrants, an independent valuation process is used to establish fair market value. If an institution chooses not to repurchase the warrants, Treasury is entitled to sell the warrants. In November and December 2009, Treasury began public offerings registered with the Securities and Exchange Commission for the sale of warrants using a modified Dutch auction methodology. More information on the methodology and results of the warrants sales is set forth the Warrant Disposition Reports available at: www.FinancialStability.gov/latest/reportsanddocs.html Appendix 1 - page 5 Monthly 105(a) Report What was the Supervisory Capital Assessment Program (SCAP) and Capital Assistance Program (CAP)? o August 2010 The Supervisory Capital Assessment Program and Capital Assistance Program were important components of the Financial Stability Plan to help ensure that banks have a sufficient capital cushion in a more adverse economic scenario. SCAP was a comprehensive capital assessment exercise, or "stress test", for the largest 19 U.S. bank holding companies and a complement to the CAP. In November 2009, Treasury announced the closure of the Capital Assistance Program. Of the 19 banks that participated in the SCAP, 18 demonstrated no need for additional capital or fulfilled their need in the private market. GMAC was the only financial institution not able to raise sufficient capital in the private market, and in December 2009, GMAC and Treasury completed the investment contemplated in May, an additional $3.8 billion, which was funded under the Automotive Industry Financing Program. Following announcement of the stress test results, the largest banking institutions raised over $140 billion in high-quality capital and over $60 billion in non-guaranteed unsecured debt in the private markets. Banks used private capital to repay TARP investments, allowing TARP to fulfill its function as a bridge to private capital. o o o How did the SCAP and the CAP work? o Federal banking supervisors conducted forward-looking assessments to estimate the amount of capital banks would need to absorb losses in a more adverse economic scenario and to provide the transparency necessary for individuals and markets to judge the strength of the banking system. Results of the stress tests were released on May 7, 2009. Some banks were required to take steps to improve the quality and/or the quantity of their capital to give them a larger cushion to support future lending even if the economy performs worse than expected. Banks had a range of options to raise capital in the private markets, including common equity offerings, asset sales and the conversion of other forms of capital into common equity. Banks that did not satisfy their requirement by using these options could request additional capital from the government through the CAP. Financial institutions had to submit a detailed capital plan to supervisors, who consulted with Treasury on the development and evaluation of the plan. Any bank needing to augment its capital buffer at the conclusion of the SCAP was required to develop a detailed capital plan in June 2009, and had until November 2009 to implement that capital plan. In cases in which the SCAP indicated that an additional capital buffer was warranted, institutions had an opportunity to turn first to private sources of capital, but were also eligible to receive government capital via investment available immediately through the CAP. Eligible U.S. banks that did not participate in the SCAP could have applied to their primary federal regulator to receive capital under the CAP. o o Appendix 1 - page 6 Monthly 105(a) Report What was the Asset Guarantee Program (AGP)? o August 2010 Under the AGP, Treasury acted to support the value of certain assets held by qualifying financial institutions, by agreeing to absorb unexpectedly large losses on certain assets. The program was designed for financial institutions whose failure could harm the financial system and was used in conjunction with other forms of exceptional assistance. The program is closed, and resulted in a positive return to the taxpayers. o Who received assistance under the AGP? Citigroup o Bank of America In January 2009, Treasury, the Federal Reserve and the FDIC agreed to share potential losses on a $118 billion pool of financial instruments owned by Bank of America, consisting of securities backed by residential and commercial real estate loans and corporate debt and derivative transactions that reference such securities, loans and associated hedges. In September 2009, Treasury, the Federal Reserve and Bank of America agreed to terminate the asset guarantee arrangement announced in January 2009. In connection with that termination and in recognition of the benefits provided by entering into the term sheet for such arrangement, Bank of America paid the U.S. government $425 million, including $276 million to Treasury. TARP funds were committed as a reserve to cover up to $5 billion of possible losses o on a $301 billion pool of Citigroup's covered assets. As a premium for the guarantee, Treasury received $4.034 billion of preferred stock, subsequently exchanged for trust preferred securities, with identical terms as the securities received under the TIP, and Treasury also received warrants to purchase approximately 66 million shares of common stock at a strike price of $10.61 per share. For the period that the Citigroup asset guarantee was outstanding, Citigroup made no claims for loss payments to any federal party and consequently Treasury made no guarantee payments of TARP funds to Citigroup. In December 2009, Treasury, the Federal Deposit Insurance Corporation (FDIC), the o Federal Reserve Bank of New York (FRBNY) and Citigroup, agreed to terminate Citigroup's AGP agreement, pursuant to which: (1) Treasury's guarantee commitment was terminated, (2) Treasury agreed to cancel $1.8 billion of the trust preferred securities issued by Citigroup from $4.034 billion to $2.234 billion for early termination of the guarantee, (3) the FDIC and Treasury agreed that, subject to certain conditions, the FDIC would transfer up to $800 million of trust preferred securities to Treasury at the close of Citigroup's participation in the FDIC's Temporary Liquidity Guarantee Program, and (4) Citigroup agreed to comply with the determinations of the Special Master for TARP Executive Compensation as if its obligations related to exceptional financial assistance had remained outstanding through December 31, 2009 and (in addition to compliance with the executive compensation provisions of EESA's Section 111, as amended) to permit, for 2010, the Federal Reserve Board of Governors, in consultation with the Office of the Comptroller of the Currency and the FDIC, to review the actual incentive compensation arrangements for Citigroup's top 30 earners to be sure they comport with the Board of Governors' incentive compensation principles as set forth in the Board of Governors' guidance. o Appendix 1 - page 7 Monthly 105(a) Report What is the Targeted Investment Program (TIP) o o August 2010 Pursuant to EESA, Treasury has provided exceptional assistance on a case-by-case basis in order to stabilize institutions that were considered systemically significant to prevent broader disruption of financial markets. Treasury provided this assistance by purchasing preferred stock, and also received warrants to purchase common stock, in the institutions. How did the TIP work? o Under the TIP, Treasury purchased $20 billion in preferred stock from Citigroup Inc. and $20 billion in preferred stock from Bank of America Corporation. Both preferred stock investments paid a dividend of eight percent per annum. The TIP investments were in addition to CPP investments in these banks. As part of an exchange offer designed to strengthen Citigroup's capital, Treasury exchanged all of its CPP preferred stock in Citigroup for a combination of common stock and trust preferred securities, and the TIP preferred shares were exchanged for trust preferred securities. In December 2009, Bank of America and Citigroup repaid their TIP investments in full. Treasury continues to hold warrants acquired from Citigroup under the TIP. The Bank of America TIP warrants were sold in a public auction. The program is closed, and Treasury expects it will result in a positive return for taxpayers. o o o What is the AIG Investment? How does the AIG Investment work? The Federal Reserve loans to AIG were carried out through the Federal Reserve Bank of New York ("FRBNY") under section 13(3) authority of the Federal Reserve Act to lend on a secured basis under "unusual and exigent" circumstances to companies that are not depository institutions: o In September 2008, the FRBNY provided an $85 billion credit facility to AIG, subsequently reduced to $60 billion, and received shares which currently have approximately 79.8% of the voting rights of the common stock in AIG. The FRBNY created a trust to hold the shares that exists for the benefit of the U.S. Treasury - but, the Department of the Treasury does not control the trust and cannot direct its trustees. In December 2009, the Federal Reserve received preferred equity interests in two special purpose vehicles ("SPVs") formed to hold the outstanding stock of AIG's largest foreign insurance subsidiaries, American International Assurance Company ("AIA") and American Life Insurance Company ("ALICO"), in exchange for a $25 billion reduction in the balance outstanding and maximum credit available under AIG's revolving credit facility with the FRBNY. The transactions positioned AIA and ALICO for initial public offerings or sale. o Treasury's investment in AIG was made under EESA authority: o In November 2008, Treasury purchased $40 billion in Series D preferred stock from AIG, subsequently exchanged in April 2009, for face value plus accrued dividends, into $41.6 billion of Series E preferred stock. Appendix 1 - page 8 Monthly 105(a) Report o August 2010 In April 2009, Treasury also created an equity capital facility, under which AIG may draw up to $29.8 billion as needed in exchange for issuing additional shares of Series F preferred stock to Treasury. The Series E and Series F preferred stock pay a non-cumulative dividend of ten percent per year. As of August 31, 2010, AIG has drawn $7.54 billion from the equity capital facility. o What is the Automotive Industry Financing Program (AIFP)? o The Automotive Industry Financing Program (AIFP) was developed in December 2008 to prevent a significant disruption of the U.S. automotive industry, because the potential for such a disruption posed a systemic risk to financial market stability and would have had a negative effect on the economy. Short-term funding was initially provided to General Motors (GM) and Chrysler on the condition that they develop plans to achieve long-term viability. In cooperation with the Administration, GM and Chrysler developed satisfactory viability plans and successfully conducted sales of their assets to new entities in bankruptcy proceedings. Chrysler's sale process was completed in 42 days and GM's was completed in 40 days. Treasury provided additional assistance during the respective periods. Treasury has provided approximately $80 billion in loans and equity investments to GM, GMAC (now known as Ally Financial Inc.), Chrysler, and Chrysler Financial. The terms of Treasury's assistance impose a number of restrictions including rigorous executive compensation standards, limits on luxury expenditures and other corporate governance requirements. In the related Auto Supplier Support Program (ASSP), Treasury provided loans to ensure that auto suppliers receive compensation for their services and products, regardless of the condition of the auto companies that purchase their products. As scheduled, the ASSP closed in April 2010 after full repayment of all loans provided under the program. o o o Chrysler o In January 2009, Treasury loaned $4 billion to Chrysler to give it time to implement a viable restructuring plan. On March 30th, the Administration determined that the business plan submitted by Chrysler failed to demonstrate viability and announced that in order for Chrysler to receive additional taxpayer funds, it needed to find a partner. Chrysler made the determination that forming an alliance with Fiat was the best course of action for its stakeholders. Treasury continued to support Chrysler as it formed an alliance with Fiat. In May and June 2009, Treasury (i) provided an additional $1.9 billion to Chrysler LLC (Old Chrysler) under a debtor-in-possession financing agreement for assistance during its bankruptcy proceeding, (ii) provided a $6.6 billion loan commitment to Chrysler Group LLC (New Chrysler) and (iii) received a 9.9% equity ownership in New Chrysler. With respect to Old Chrysler, on April 30, 2010, following the bankruptcy court's approval of a Plan of Liquidation, the $1.9 billion debtor-inpossession loan was extinguished and the assets remaining with Old Chrysler, including collateral security attached to the loan, were transferred to a liquidation trust. Treasury retained the right to recover the proceeds from the liquidation of the specified collateral, but does not expect a significant recovery from the liquidation proceeds. Appendix 1 - page 9 o o Monthly 105(a) Report o August 2010 With respect to the original $4 billion loan made to CGI Holding LLC, the owner of Chrysler Financial and Old Chrysler, (i) the loan went into default when Old Chrysler filed for bankruptcy in April 2009, (ii) $500 million of debt was assumed by New Chrysler in July 2009, and (ii) Treasury accepted a settlement payment of $1.9 billion as satisfaction in full of all existing debt obligations of CGI Holding in May 2010. The final repayment, while less than face value, was significantly more than Treasury had previously estimated to recover following the bankruptcy and greater than independent valuation of the loan provided by Keefe, Bruyette and Woods, Treasury's adviser for the transaction. With respect to New Chrysler, Treasury's remaining investments consist of 9.9% of common equity and a $7.1 billion loan (including undrawn commitments and the $500 million assumed from Chrysler Holding). New Chrysler currently has the following ownership: Chrysler Voluntary Employee Benefit Association (VEBA) (67.7%), Fiat (20%), Treasury (9.9%) and the Government of Canada (2.5%). o o Chrysler Financial o o On January 16, 2009, Treasury announced that it would lend up to $1.5 billion to a special purpose vehicle (SPV) created by Chrysler Financial to enable the company to finance the purchase of Chrysler vehicles by consumers. To satisfy the EESA warrant requirement, the Chrysler Financial SPV issued additional notes entitling Treasury to an amount equal to five percent of the maximum loan amount. Twenty percent of those notes vested upon the closing of the transaction, and additional notes were to vest on each anniversary of the transaction closing date. The loan was fully drawn by April 9, 2009. On July 14, 2009, Chrysler Financial fully repaid the loan, including the vested additional notes and interest. o General Motors o On December 31, 2008, Treasury agreed to loan $13.4 billion to General Motors Corporation (GM or Old GM) to fund working capital. Under the loan agreement, GM was also required to implement a viable restructuring plan. The first plan GM submitted failed to establish a credible path to viability, and the deadline was extended to June 1 for GM to develop an amended plan. Treasury loaned an additional $6 billion to fund GM during this period. To achieve an orderly restructuring, GM filed for bankruptcy on June 1, 2009. Treasury provided $30.1 billion under a debtor-in-possession financing agreement to assist GM during the bankruptcy. The new entity, General Motors Company (New GM), began operating on July 10, 2009, following its purchase of most of the assets of Old GM. When the sale to New GM was completed on July 10, Treasury converted most of its loans to 60.8% of the common equity in the New GM and $2.1 billion in preferred stock. Treasury continued to hold $6.7 billion in outstanding loans. In December 2009, New GM began quarterly repayments of $1.0 billion on its $6.7 billion loan from Treasury. And in January 2010, New GM and Treasury amended the loan agreement to require cash that New GM held in an escrow account to be applied to repay the loan by June 30, 2010. After New GM repaid Treasury $1 billion on March 31, 2010, the outstanding loan balance fell to approximately $4.7 billion, all of which loan was repaid in April 2010 from the escrowed funds. Appendix 1 - page 10 o o Monthly 105(a) Report o August 2010 New GM currently has the following ownership: Treasury (60.8%), GM Voluntary Employee Benefit Association (VEBA) (17.5%), the Canadian Government (11.7%), and Old GM's unsecured bondholders (10%). As part of the restructuring, GM issued warrants to acquire shares of common stock to VEBA and Old GM (for eventual distribution to the creditors of Old GM following liquidation). General Motors Initial Public Offering (IPO) In June, Treasury provided guidance on its role in the exploration of a possible initial public offering by General Motors Company (GM). The full statement is available at http://www.FinancialStability.gov/latest/pr_06102010b.html. The following are excerpts from the statement: o The exact timing of an initial public offering will be determined by GM in light of market conditions and other factors, but will not occur before the fourth quarter of this year. Treasury will retain the right, at all times, to decide whether and at what level to participate in the offering, should it occur. The initial public offering is expected to include the sale of shares by Treasury, other shareholders who wish to participate, and GM. The overall size of the offering and relative amounts of primary and secondary shares will be determined at a later date. The selection of the lead underwriters will be made by GM, subject to Treasury's agreement that the selection is reasonable. Treasury will determine the fees to be paid to the underwriters. Federal securities laws preclude Treasury from discussing certain other matters prior to the effectiveness of the registration statement filed with the SEC. o o o Ally Financial Inc. (formerly known as GMAC) o In December 2008, Treasury purchased $5 billion in senior preferred equity from GMAC LLC, and received an additional $250 million in preferred shares through warrants that Treasury exercised at closing. At the same time, Treasury also agreed to lend up to $1 billion of TARP funds to GM (one of GMAC's owners) for the purchase of additional ownership interests in GMAC's rights offering. GM drew $884 million under that commitment in January 2009, and then in May 2009, Treasury exercised its option to exchange that loan for 35.4% of common membership interests in GMAC. In May 2009, regulators required GMAC to raise additional capital by November 2009 in connection with the SCAP. On May 21, 2009, Treasury purchased $7.5 billion of convertible preferred shares from GMAC and also received warrants that Treasury exercised at closing for an additional $375 million in convertible preferred shares, which enabled GMAC to partially meet the SCAP requirements. Additional Treasury investments in GMAC were contemplated to enable GMAC to satisfy the SCAP requirements. On December 30, 2009, Treasury: Invested an additional $3.8 billion in GMAC, consisting of $2.54 billion of trust preferred securities (TRUPs), which are senior to all other capital securities of GMAC, and $1.25 billion of Mandatorily Convertible Preferred Stock (MCP), and received warrants, which were immediately exercised, to purchase an additional $127 million of TRUPs and $63 million of MCP; Appendix 1 - page 11 o o Monthly 105(a) Report Converted $3 billion of its existing MCP, which was purchased in May 2009, into common stock; Exchanged $5.25 billion of preferred stock into MCP; and August 2010 For the conversion price of the MCP to common stock, acquired a "reset" for an adjustment in 2011, if beneficial to Treasury, based on the market price of GMAC's private capital transactions occurring in 2010. o o As a result of the December 2009 transactions, Treasury's equity ownership of GMAC increased from 35 percent to 56.3 percent and Treasury holds $11.4 billion of MCP and $2.7 billion of TRUPs in GMAC. Ally Financial Inc. remains subject to the executive compensation and corporate governance requirements of Section 111 of EESA, as amended, and to the oversight of the Special Master for TARP Executive Compensation. Consumer and Business Lending Initiatives What is the Community Development Capital Initiative (CDCI)? Treasury has released the final program terms and forms of agreements for the new Community Development Capital Initiative, originally announced in October 2009, to invest lower-cost capital in Community Development Financial Institutions (CDFIs) that operate in markets underserved by traditional financial institutions. CDFIs are banks, thrifts, bank holding companies, savings and loan holding companies and credit unions that target more than 60 percent of their small business lending and other economic development activities to low- and moderate-income communities. Key program terms include: o o o CDFIs are eligible to receive capital investments of up to 5 percent of risk-weighted assets (3.5 percent of total assets for credit unions). CDCI participants will pay dividends to Treasury at a rate of 2 percent per annum, compared to the 5 percent under the CPP, increasing to 9 percent after eight years. Consistent with the use of TARP funds to promote financial stability and protect the taxpayer, CDFIs will need approval from their primary regulator to participate in this program. In cases where a CDFI might not otherwise be approved by its regulator, it will be eligible to participate so long as it can raise enough private capital that - when matched with Treasury capital up to 5 percent of risk-weighted assets (RWA) - it can reach viability. CDFIs participating in the Capital Purchase Program are eligible to exchange the CPP investment into the CDCI program. CDFIs that participate in the program will not be required to issue warrants so long as they receive $100 million or less in total TARP funding. o o Additional details are available at http://www.FinancialStability.gov/roadtostability/comdev.html Appendix 1 - page 12 Monthly 105(a) Report What is the Small Business and Community Lending Initiative - SBA 7(a) Securities Purchase Program? August 2010 To ensure that credit flows to entrepreneurs and small business owners, Treasury has taken measures to complement the Administration's actions to help small businesses recover and grow, including a program to purchase SBA guaranteed securities ("pooled certificates"). Treasury has developed a program to purchase SBA guaranteed securities from pool assemblers. Additional details are available at http://www.FinancialStability.gov/roadtostability/smallbusinesscommunityinitiative.html What is the Term Asset-Backed Securities Loan Facility (TALF)? o A joint Treasury and Federal Reserve program, the Term Asset-Backed Loan Facility, begun in March 2009, played a key role in enabling the securitization markets important for consumer and small business loans to improve. The TALF operated as a lending facility of the Federal Reserve Bank of New York (FBRNY) to provide term non-recourse loans collateralized by AAA-rated asset-backed securities (ABS) backed by new or recently originated auto loans, student loans, credit card loans, equipment loans, floor plan loans, insurance premium finance loans, residential mortgage servicing advances, or commercial mortgage loans, including legacy commercial mortgage loans, as well as collateralized by loans guaranteed by the Small Business Administration. Treasury provided credit support for TALF as part of Treasury's Consumer and Business Lending Initiative. Under TALF, investors requested the FRBNY to make loans secured by eligible consumer ABS, small business ABS, or commercial mortgage backed securities (CMBS) on fixed days each month. Assuming that the borrower and the security (ABS or CMBS) it planned to pledge as collateral met FRBNY's requirements, the investor received the requested funding. Most borrowers used the loan, together with their own funds, to purchase the ABS that serves as collateral for the TALF loans. If the borrower does not repay the loan, the FRBNY will enforce its rights in the collateral and sell the collateral to a special purpose vehicle (SPV) established specifically for the purpose of purchasing and managing such assets. The SPV is funded, in part, by a $20 billion subordinated loan commitment from Treasury. The TALF for newly issued ABS and legacy CMBS expired in March 2010, and the TALF for newly issued CMBS expired in June 2010. Since the program launch, a total of $70 billion of TALF loans backing eligible ABS and CMBS has been extended, of which $43 billion is currently outstanding. Because the facility is smaller today than originally anticipated, as of July, Treasury's commitment was reduced from $20 billion to approximately $4.3 billion. Data from the Federal Reserve has indicated that for most ABS asset classes, interest rate spreads have tightened to levels below the TALF loan rate, thereby reducing the need for support to the ABS through the facility. This is one measure of the improving health of these asset classes. The expiration of TALF is expected to have limited impact on spreads for those asset types that were considered TALF-eligible, as there has been an increasing level of demand by cash-only investors. o o o o Appendix 1 - page 13 Monthly 105(a) Report Bank Lending Surveys Monthly Surveys August 2010 Each month, Treasury has asked banks participating in the CPP to provide information about their lending and intermediation activities and publishes the results in reports available at http://www.FinancialStability.gov/impact/surveys.htm. The reports are intended to help the public easily assess the lending activities of CPP banks. o The Monthly Lending and Intermediation Snapshot, for the 22 largest recipients of CPP investments and which was first published in January 2009 with data from inception of the CPP, provides quantitative information on three major categories of lending - consumer, commercial, and other activities - based on banks' internal reporting, and commentary to explain changes in lending levels for each category. Beginning with the December 2009 Snapshot (released in February 2010), banks that that had repaid CPP funds in June 2009 no longer submitted data to Treasury. As the reporting group contracted with additional CPP repayments, Treasury has ceased to publish a summary analysis because the aggregate month to month changes are no longer meaningful. Treasury continues to publish the reports and underlying data from the banks that continue to submit Snapshot data. In July 2010, Treasury published May 2010 data from seven institutions. The CPP Monthly Lending Report includes all participants in the CPP and is published in addition to the Monthly Lending and Intermediation Snapshot. The Lending Report makes available three data points on a monthly basis: average outstanding balances of consumer loans, commercial loans, and total loans from all CPP participants o CPP Quarterly Report An interagency group consisting of representatives from Treasury, the Federal Reserve Board, and other Federal banking agency functions conducts periodic analysis of the effect of TARP programs on banking organizations and their activities, and publishes the results in reports available at http://www.FinancialStability.gov/impact/CPPreport.html. This Quarterly CPP Report analyzes the financial data submitted by depository institutions to their primary federal regulator in Call Reports and Thrift Financial Reports, as well as the Y-9C Reports submitted by large bank holding companies each quarter to the Federal Reserve. Annual Use of Capital Survey Treasury has also initiated an annual Use of Capital Survey to obtain insight into the lending, financial intermediation, and capital building activities of all recipients of government investment through CPP funds. Collection of the Use of Capital survey data began during March, with responses due in the second calendar quarter of 2010. Data and survey results will be available at http://www.FinancialStability.gov/useofcapital. The Use of Capital Survey is designed to capture representative information of CPP fund usage without imposing excessive burdens on institutions, and will cover how each financial institution has employed the capital infusion of CPP funds from the date it initially received the funds until the end of 2009. The survey form provides eight possible uses of capital, as well as space for narrative responses. The survey results were published to the FinancialStability.gov website in July 2010. The overwhelming majority of respondents (85%) indicated that their institutions increased lending or reduced lending less than otherwise would have occurred after the receipt of CPP capital. Just over half Appendix 1 - page 14 Monthly 105(a) Report August 2010 of the respondents (53%) indicated that their institutions increased reserves for non-performing assets after the receipt of CPP capital. Nearly half of the respondents (46%) noted that their institutions held the CPP capital as a non-leveraged increase to total capital. In addition, Treasury previously published summary balance sheet and income statement information from each institution's regulatory filings on the same page as a supplement to the survey responses. What is the Legacy Securities Public Private Investment Program (S-PPIP)? o The Legacy Securities Public Private Investment Program is designed, in part, to support market functioning and facilitate price discovery in the commercial and non-agency residential mortgage-backed securities (MBS) markets, helping banks and other financial institutions re-deploy capital and extend new credit to households and businesses. Both residential and commercial MBS are pools of mortgages bundled together by financial institutions. Rights to receive a portion of the cash generated by the pools are sold as securities in the financial markets, in the same way a stock or bond would be sold in financial markets. The term "legacy assets" generally refers to loans, asset-backed securities, and other types of assets that were originated or issued before the financial markets for these types of assets deteriorated significantly in 2008. The Public Private Investment Program was announced as part of the Financial Stability Plan, which also originally included a program for legacy loans that would be administered by the FDIC. In the latter months of 2009, financial market conditions improved, the prices of legacy securities appreciated, and the results of the Supervisory Capital Assessment Program enabled banks to raise substantial amounts of capital as a buffer against weaker than expected economic conditions, all of which enabled Treasury to proceed with the S-PPIP program at a scale smaller than initially envisioned. o o How does the S-PPIP work? o Treasury partners with selected fund managers to purchase commercial and non-agency residential and commercial MBS. Treasury provides equity as well as debt financing to investment partnerships formed by the fund managers; the maximum equity obligation to a PPIF was initially expected to be $1.11 billion and the maximum debt obligation to a PPIF was initially expected to be $2.22 billion (before giving effect to any reallocation of capital). Treasury will invest one-half of the total equity committed to the partnership; the remainder must be raised by the fund manager from private sector sources. Treasury's loan will earn interest and must be repaid at the end of the life of the fund. The nine firms that Treasury had pre-qualified in July 2009 to participate as fund managers have completed closings and begun operations of Public Private Investment Funds (PPIFs). Treasury has committed (but not yet funded all of) of equity capital and debt financing to each PPIF, while total Treasury equity and debt investment in all PPIFs will equal approximately $22.1 billion. Following an initial closing, each PPIF has the opportunity to conduct additional closings over approximately six months to receive matching Treasury equity and debt financing. All PPIFs have now completed their subsequent closings. The equity investment, together with warrants received by Treasury, ensures that if these PPIFs perform well, the U.S. Treasury, and thus the taxpayer, will benefit from the upside of the performance alongside private investors. Treasury carefully designed the S-PPIP terms to protect the interests of taxpayers. Fund managers may not acquire assets from or sell assets to their affiliates or any other PPIF fund manager or private investor that has committed at least ten percent of the aggregate private capital Appendix 1 - page 15 o o o Monthly 105(a) Report August 2010 raised by such fund manager. Fund managers must submit regular monthly reports about assets purchased, assets disposed, asset values, and profits and losses. Due to the possibility of actual or potential conflicts of interest inherent in any market-based investment program, fund managers also must agree to abide by ethical standards and conflicts of interest and compliance rules and a process for ensuring adherence to these rules developed by Treasury. In developing these requirements, Treasury worked closely with, among others, the staff of the SIGTARP and the Federal Reserve. Who are the S-PPIP Fund Managers? o Following a comprehensive two-month application, evaluation, and selection process, during which Treasury received over 100 unique applications to participate in the S-PPIP, in July 2009 Treasury pre-qualified the following firms to participate as fund managers in the program: AllianceBernstein, LP and its sub-advisors Greenfield Partners, LLC and Rialto Capital Management, LLC; Angelo, Gordon & Co., L.P. and GE Capital Real Estate; BlackRock, Inc.; Invesco Ltd.; Marathon Asset Management, L.P.; Oaktree Capital Management, L.P.; RLJ Western Asset Management, LP; The TCW Group, Inc., (subsequently terminated, see below); and Wellington Management Company, LLP. The fund managers for the PPIFs have established relationships with small, minority-, and women-owned businesses. Partner firms have roles including involvement in managing the investment portfolio and cash management services, raising capital from private investors, providing trading related-services, identifying investment opportunities, and providing investment and market research and other advisory services to the PPIFs. In December 2009, a fund managed by The TCW Group, Inc., was liquidated because TCW terminated the employment of individuals who were "Key Persons" responsible for making the investment decisions as set forth under the Limited Partnership Agreement for the TCW PPIF. Only $513 million of total capital had been funded. Treasury's debt and equity capital investments were repaid in full, and Treasury realized a positive return of approximately $20.6 million on its equity investment of $156.3 million. Private investors were offered the option to re-allocate their underfunded capital commitments and proceeds from the TCW PPIF liquidation to any of the eight other PPIFs. In March 2010, commitments for $44.5 million in direct equity investments were reallocated from TCW PPIF investors to specific PPIF fund managers and the remaining $3.2 billion in commitments to the TCW PPIF were reallocated to all eight PPIF fund managers. o o o S-PPIP Quarterly Reports o Treasury has undertaken to publish quarterly reports with a summary of PPIP capital activity, portfolio holdings and current pricing, and fund performance, which are available on the FinancialStability.gov website, and specifically: As of June 30, 2010, at http://www.financialstability.gov/docs/111.pdf. As of March 31, 2010, at http://www.financialstability.gov/docs/External%20Report%20-%2003-10%20Final.pdf. As of December 31, 2009, at http://www.financialstability.gov/docs/External%20Report%20-%2012-09%20FINAL.pdf. Appendix 1 - page 16 Monthly 105(a) Report o August 2010 The third quarterly report was issued in July 2010. As of June 30, 2010, the participating PPIP fund managers had raised an aggregate of $7.4 billion in private capital for the Public-Private Investment Funds (PPIFs). Together with equity and debt financing provided by Treasury, these PPIFs had $29.4 billion in total funds available to acquire legacy non-agency residential and commercial mortgage-backed securities. What is the Home Affordable Modification Program (HAMP)? o o The Home Affordable Modification Program, part of Making Home Affordable (MHA), was first announced by the Obama Administration in February 2009 as part of its Financial Stability Plan. Using TARP funds, Treasury provides incentives for mortgage servicers, borrowers and investors to modify loans that are delinquent or at imminent risk of default to an affordable monthly payment equal to no more than 31 percent of a borrower's gross monthly income. Borrowers must be owner occupants, demonstrate the ability to support the reduced payment during a three-month trial, and submit required documentation before the modification becomes permanent. Homeowners participating in HAMP work with HUD-certified housing counselors and mortgage servicers. HAMP is designed to give up to 3 to 4 million homeowners an opportunity to reduce their monthly mortgage payments to more affordable levels. HAMP includes both GSE and non-GSE mortgages. GSE stands for "government sponsored enterprise," and in this report refers to Fannie Mae and Freddie Mac. Up to $50 billion of TARP funds will be used to encourage the modification of non-GSE mortgages that financial institutions own and hold in their portfolios (whole loans) and mortgages held in private-label securitization trusts. Servicers must enter into the Servicer Participation Agreements with Treasury on or before October 3, 2010. Servicers for loans that are owned or securitized by GSEs are required to participate in the related GSE's HAMP for their portfolio of GSE loans. The incentives for these GSE HAMP modifications are funded by the related GSEs from their own resources. Borrowers may be accepted into HAMP if a borrower has made the first trial period payment on or before December 31, 2012. Modification interest rates are locked for five years from the start date of the modification. Incentive payments to investors and borrowers will continue to be paid out over that period for up to five years, and incentive payments to servicers for up to three years. At the end of five years, the reduced interest rate will increase by one percent per year until it reaches the cap, which is the market rate at the time the trial period began. The capped rate is fixed for the life of the loan. Details on the Home Affordable Modification Program are available at http://www.FinancialStability.gov/roadtostability/homeowner.html and at http://www.MakingHomeAffordable.gov. o o o o o Appendix 1 - page 17 Monthly 105(a) Report What are the additional components of HAMP and MHA? o August 2010 The Home Price Decline Protection Program (HPDP) is a component of HAMP, and the Second Lien Modification Program (2MP) and the Home Affordable Foreclosure Alternatives Program (HAFA) are components of MHA. The HPDP provides additional incentive payments for modifications on properties located in areas where home prices have declined. The purpose of the program is to encourage additional lender participation and HAMP modifications in areas hardest hit by falling home prices and ensure that borrowers in those areas have the opportunity to stay in their homes, thereby minimizing foreclosures, which further depress home values. The Second Lien Modification Program (2MP) provides incentives for second-lien holders to modify or extinguish a second-lien mortgage when a modification has been initiated on the first lien mortgage for the same property under HAMP. The Home Affordable Foreclosure Alternatives Program (HAFA) simplifies and streamlines the use of short sale or deed-in-lieu options by incorporating financial incentives to borrowers, servicers, and investors. The program also ensures pre-approved short sale terms prior to listing the property on the market and requires that borrowers be fully released from future liability for the debt. o o HAMP Enhancements for Unemployed Homeowners and Principal Write-Downs o In March 2010, the Obama Administration announced enhancements to the Home Affordable Modification Program that will provide temporary mortgage assistance to some unemployed homeowners, encourage servicers to write-down mortgage debt as part of a HAMP modification, allow more borrowers to qualify for modification through HAMP, and help borrowers move to more affordable housing when modification is not possible. 1 Revised Supplemental Directives to implement these enhancements to HAMP and can be found at https://www.hmpadmin.com/ portal/programs/directives.html. 2 See "Temporary Assistance for Unemployed Homeowners While They Search for Re-Employment and Modification of Loans with Principal Reduction Alternative" below. FHA Program Adjustments to Support Refinancings for Underwater Homeowners o In March 2010, the Obama Administration announced the FHA Program Adjustments to Support Refinancings for Underwater Homeowners, which will permit participating lenders to provide additional refinancing options to homeowners who owe more than their home is worth because of large declines in home prices. 3 The FHA Refinance option should be available by the fall of 2010. Treasury and FHA expect to issue detailed guidelines on the respective elements for the FHA Refinance Option. o 1 2 Further information, including the HAMP Improvements Fact Sheet, is available at http://www.FinancialStability.gov/latest/pr_03262010.html A listing of all Supplemental Directives, and links to PDF versions of each Supplemental Directive, can be found at https://www.hmpadmin.com/portal/programs/directives.html. 3 See the FHA Refinance Fact Sheet available at http://MakingHomeAffordable.gov/docs/FHA_Refinance_Fact_Sheet_032510%20FINAL2.pdf. Appendix 1 - page 18 Monthly 105(a) Report o August 2010 TARP funds will be made available up to an estimated $11 billion to provide incentives to support the write-downs of second liens and encourage participation by servicers, and to provide additional coverage for a share of potential losses on these loans. Servicer performance o To ensure transparency and servicer accountability, servicer-specific results are publicly reported on a monthly basis. The Monthly Servicer Performance Reports can be found at http://www.FinancialStability.gov/latest/reportsanddocs.html. As of June 2010, the Monthly Servicer Performance Report was incorporated in the monthly Housing Scorecard released by the U.S. Department of Housing and Urban Development (HUD) that is available at www.HUD.gov/scorecard. In January 2010, MHA released updated guidance for servicer documentation requirements in order to expedite conversions of current trial modifications to permanent status. This guidance also implemented an important program improvement for future trial period plans by requiring servicers to fully validate borrower financial information before offering a trial plan. In addition, servicers are allowed additional time in certain circumstances to retrieve documentation from applicants, notify applicants of any missing documents, and resolve any disputes over applications. In May 2010, the Administration outlined for servicers its plans to begin reporting more detailed performance measures. This reporting will include the eight largest servicers and will focus on servicer compliance, program execution, and homeowner experience. Reporting will include the following: Servicer Compliance with Program Guidelines Results of servicer-level loan-file reviews assessing whether loan files were appropriately evaluated Identification of all compliance activities performed for servicers and of areas for future compliance focus Program Execution Average time from start of trial modification to start of permanent modification Servicer implementation timelines for program updates Information about alternatives made available to homeowners ineligible for HAMP Information about alternatives made available to homeowners who fall out of HAMP trial modifications, such as non-HAMP modifications, payment plans, and short sales Homeowner Experience Servicer handling of calls from homeowners (speed to answer, hang-up rates) Time it takes to resolve homeowner problems that have been reported by third parties such as housing counselors, attorneys, and congressional and other government offices Servicer share of homeowner complaints to the Homeowner's HOPE(TM) Hotline o o Appendix 1 - page 19 Monthly 105(a) Report August 2010 Temporary Assistance for Unemployed Homeowners While They Search for Re-Employment and Modification of Loans with Principal Reduction Alternative In May 2010, Treasury released Supplemental Directive (SD) 10-04 - Home Affordable Unemployment Program (UP), a supplemental program to HAMP that provides assistance to unemployed borrowers and in June 2010, Treasury released SD 10-05 - Home Affordable Modification Program - Modification of Loans with Principal Reduction Alternative, as implementation of HAMP program enhancements announced in March. o The Unemployment Program requires servicers to grant qualified unemployed borrowers a forbearance period to have their mortgage payments temporarily reduced for a minimum of three months while they look for a new job. If a homeowner does not find a job before the temporary assistance period is over or if they find a job with a reduced income, they will be evaluated for a permanent HAMP modification or may be eligible for HAMP's alternatives to the foreclosure program. Servicers are prohibited from initiating foreclosure action or conducting a foreclosure sale while the borrower is being evaluated for UP, after a foreclosure plan notice is mailed, during the UP forbearance or extension, and while the borrower is being evaluated for or participating in HAMP or HAFA following the UP forbearance period. Servicers will not be reimbursed by the TARP for any costs associated with the UP, and there will be no cost to government or taxpayers from the forbearance plans. SD 10-05 provides guidance to servicers on a Principal Reduction Alternative (PRA). Under PRA, servicers are required to evaluate the benefit of principal reduction and are encouraged to offer principal reduction whenever the net present value (NPV) result of a HAMP modification using PRA is greater than the NPV result without considering principal reduction. SD 10-05 also provides that the 2MP program will now require principal reduction in an amount at least proportional to any principal reduction offered on a corresponding HAMP modified first lien mortgage loan. o o Compliance and second look o The HAMP Compliance Program is designed to ensure that servicers satisfy their obligations under HAMP requirements in order to provide a well-controlled program that assists as many deserving homeowners as possible to retain their homes while taking reasonable steps to prevent fraud, waste and abuse. Freddie Mac acts as Treasury's Compliance Agent for HAMP through MHA-C, which is a separate, independent division that conducts these compliance activities. Treasury works closely with MHA-C to design and refine the Compliance Program and conducts quality assessments of the activities performed by MHA-C. Compliance activities of MHA-C include on-site reviews, file reviews and reviews of net present value (NPV) model applications. Please see Appendix B of the Servicer Performance Report Through May 2010 for further information. Following these reviews, MHA-C provides Treasury with assessments of each servicer's compliance with HAMP requirements. If appropriate, Treasury will implement remedies for non-compliance. These remedies may include withholding or reducing incentive payments to servicers, requiring repayments of prior incentive payments made to servicers with respect to affected loans, or requiring additional servicer oversight. In the Servicer Performance Report Through May 2010 highlighted areas of compliance focus based on MHA-C assessments of each servicer's compliance with HAMP requirements provided to Treasury, included: (1) borrower solicitation; (2) underwriting documentation; (3) NPV model usage; (4) document processing and control; (5) IR2 data maintenance; and (6) governance. Appendix 1 - page 20 o o o Monthly 105(a) Report Updates to Servicer Certification Requirements o August 2010 In May 2010, Treasury's compliance agent, Fannie Mae, informed servicers, all of whom are required per their Servicer Participation Agreement (SPA) to submit annual certifications stating their continued compliance with the HAMP program terms, that Treasury is in the process of updating the certification requirements, and clarified the reporting period and deadlines for such certifications. The submission date for certifications due under SPA signed on or before October 31, 2009 will be September 30, 2010 in respect of the period ending on June 30, 2010, with similar staggered periods for servicers who entered HAMP on later dates. Supplemental Directive 10-06 - Guidance on Annual Servicer Certification Required by the Servicer Participation Agreement, with specific guidance regarding the certification requirements for servicers, was released in June. Hardest Hit Fund - Housing Finance Agency Innovation Funds for the Hardest Hit Housing Markets What is the First Funding of the Hardest Hit Fund (HHF)? In February 2010, the Obama Administration announced funding for innovative measures to help address the housing problems facing those states that have suffered an average home price drop of more than 20 percent from their respective peak of the housing bubble. o o o o $1.5 billion of investment authority under EESA will be available to work with state Housing Finance Agencies (HFAs) to tailor housing assistance to local needs. California, Florida, Arizona, Michigan, and Nevada, states where house prices have fallen more than 20% from their peak are eligible for this funding. Funds will be allocated among eligible states according to a formula based on home price declines and unemployment. HFAs must submit program designs to Treasury so that Treasury can evaluate the program's compliance with EESA requirements. All funded program designs are posted online at http://www.FinancialStability.gov/roadtostability/hardesthitfund.html. To receive funding, programs must satisfy the requirements for funding under EESA. These requirements include that the recipient of funds must be an eligible financial institution and that the funds must be used to pay for programs designed to prevent avoidable foreclosures and other permitted uses under EESA. In March 2010, Treasury announced the allocations of funds among the states and published guidelines for HFA proposal submissions. forth below is a summary of the methodology used to determine calculations: Set o Appendix 1 - page 21 Monthly 105(a) Report August 2010 Unemployment Number of delinquent loans in Q4 2009 62,622 494,640 309,022 105,853 120,030 Weighted number of delinquent loans 118,382 805,978 481,558 144,073 178,000 Weighted share of delinquent loans in these states 6.9% 46.6% 27.9% 8.3% 10.3% Housing Price Decline Housing price decline from peak Nevada California Florida Arizona Michigan Total -49.9% -38.9% -37.4% -36.8% -24.1% Ratio relative December to highest Sum of ratios 2009 Ratio relative (State's to largest unemployment unemployment rate weight) rate decline 1.00 0.78 0.75 0.74 0.48 13.0% 12.4% 11.8% 9.1% 14.6% 0.89 0.85 0.81 0.62 1.00 1.9 1.6 1.6 1.4 1.5 Allocation ($mm) $102.8 $699.6 $418.0 $125.1 $154.5 $1,500.0 o On June 23, 2010, Treasury approved state plans for use of the $1.5 billion in the first HHF foreclosure-prevention programs in Arizona, California, Florida, Michigan, and Nevada. These programs are designed to provide relief to struggling homeowners as soon as practicable. The specific implementation and timing will depend on the types of programs offered, specific state-level procurement procedures, compliance readiness and other factors. Appendix 1 - page 22 Monthly 105(a) Report August 2010 The approved proposals include programs to assist struggling homeowners with negative equity through principal reduction; assist the unemployed or under-employed make their mortgage payments; facilitate the settlement of second liens; facilitate short sales and/or deeds-in-lieu of foreclosure; and assist in the payment of arrearages. 1st Lien Principal Reduction Arizona California Florida Michigan Nevada Unemployment Assistance Arrearage Extinguishment 2nd Lien Principal Reduction Short Sale Facilitation State-by-state summaries of the HHF proposals are available at http://www.MakingHomeAffordable.gov/pr_06232010.html, and copies of the complete proposals are available at http://www.FinancialStability.gov/roadtostability/hardesthitfund.html. What is the Second Funding of the Hardest Hit Fund? In March 2010, the Obama Administration announced an expansion of the initiative to target additional states with high shares of their populations living in local areas of concentrated economic distress. o The second Hardest Hit Fund will include up to $600 million in funding for locally tailored measures to help families stay in their homes or otherwise avoid foreclosure in five states that have areas of concentrated economic distress. The $600 million in funds is equivalent on a per person basis to the $1.5 billion awarded in the first HHF. While the first HHF targeted five states affected by home price declines greater than 20 percent, the second HHF targets states with the highest concentration of their population living in counties with unemployment rates greater than 12 percent, on average, over the months of 2009. 4 The five states that will receive allocations based on this criterion are: North Carolina, Ohio, Oregon, Rhode Island, and South Carolina. Set forth below is a summary of the methodology used to determine calculations: o 4 States that were allocated funds under the first HHF program are not eligible for the second HHF program. Appendix 1 - page 23 Monthly 105(a) Report State Totals State Population in 2009 1,053,209 4,561,242 3,825,657 9,380,884 11,542,645 Population Living in High Unemp Counties 627,690 2,022,492 1,281,675 2,332,246 2,514,678 Economic Distress % of State Pop Living in High Unemp Counties 60% 44% 34% 25% 22% Allocation % of Total Pop in Allocation High Unemp Cap Counties ($millions) for Top 5 States 7% $43 23% $138 15% $88 27% $159 29% $172 $600 August 2010 State Rhode Island South Carolina Orgeon North Carolina Ohio Total o To receive funding, programs must satisfy the requirements for funding under EESA. These requirements include that the recipient of funds must be an eligible financial institution and that the funds must be used to pay for programs designed to prevent avoidable foreclosures and other permitted uses under EESA. The objective of the HHF program is to develop creative, effective approaches to the housing crisis that consider local conditions. Treasury has outlined some of the possible types of transactions that would meet EESA requirements: Assistance to unemployed borrowers to help them avoid foreclosure; modifications of mortgage loans held by HFAs or other financial institutions or incentives for servicers/investors to modify loans; mortgage modifications with principal forbearance by paying down all or a portion of an overleveraged loan and taking back a note from the borrower for that amount in order to facilitate additional modifications; assistance with short sales and deeds-in-lieu of foreclosure; incentives for financial institutions to write-down a portion of unpaid principal balance for homeowners with severe negative equity; or incentives to reduce or modify second liens. Other ideas and transaction types (including innovations related to the existing "Making Home Affordable" programs) were evaluated on a caseby-case basis for compliance with EESA. o o Treasury will ensure accountability and transparency of the HHF program: all funded program designs and effectiveness metrics will be posted online and program activity will be subject to oversight under EESA. What is the Third Funding of the Hardest Hit Fund? o Please refer to Program Updates of this August report for a description of the Third Funding under this program. Appendix 1 - page 24 Monthly 105(a) Report Office of the Special Master for TARP Executive Compensation What is the scope of the Special Master's review? o August 2010 In June 2009, Treasury published the Interim Final Rule (the "Rule") on TARP Standards for Compensation and Corporate Governance, promulgated under the EESA as amended by the American Recovery and Reinvestment Act of 2009 (the "Recovery Act"). The Rule contains distinct requirements for recipients of TARP funding under certain programs, including CPP participants and recipients of exceptional financial assistance. The exceptional assistance recipients currently include the following firms: AIG, Ally Financial (formerly GMAC), Chrysler, and GM. Bank of America and Citigroup ceased to be exceptional assistance recipients upon their respective repayments of TARP obligations arising from exceptional assistance programs in December 2009. As detailed below, Chrysler Financial ceased to be an exceptional assistance recipient in May 2010, when its remaining TARP obligations for purposes of the Rule were extinguished. The Rule created the Office of the Special Master and provided the Special Master with specific powers designed to ensure that executive pay at these firms is in line with long-term value creation and financial stability. These include: Review of Payments: Each recipient of exceptional assistance must obtain the Special Master's approval of compensation structures, including payments made pursuant to those structures, for the senior executive officers and 20 next most highly paid employees ("Top 25"); Review of Structures: Each recipient of exceptional assistance must obtain the Special Master's approval of compensation structures for all executive officers and the 100 most highly compensated employees ("Covered Employees 26 - 100"); Interpretation: The Special Master has interpretive authority over the executive compensation provisions of EESA and the Interim Final Rule, and authority to make all determinations as to the application of those provisions to particular facts; and Prior Payments: The "lookback" provision (i.e., Section 111(f)) of EESA requires a review of bonuses, retention awards, and other compensation paid to the senior executive officers and 20 next most highly compensated employees of each recipient of TARP assistance before February 17, 2009, in order for the Special Master to determine whether the payments were contrary to the public interest. If a payment is determined to be contrary to the public interest, the Special Master is responsible for negotiating reimbursements of such payments. o o The Rule also requires that the compensation committee, CEO, and CFO, of each TARP recipient provide certain certifications to Treasury with respect to compliance with the Rule. These certifications are due within 90 days (in the case of the CEO and CFO certifications) or 120 days (in the case of the compensation committee) of the completion of the TARP recipient's fiscal year. In addition to the executive compensation requirements, all TARP recipients were required to adopt a luxury expenditure policy consistent with the requirements of the Rule, provide the policy to Treasury, and post the policy on their Internet website, in each case within 90 days following publication of the Rule (or, if later, 90 days following the closing date of the agreement between the TARP recipient and Treasury). These policies are generally required to address expenses including entertainment or other events, office and facility renovations, and aviation or other transportation services. Appendix 1 - page 25 o Monthly 105(a) Report Determinations for the Top 25 Employees o August 2010 In October 2009, the Office of the Special Master for TARP Executive Compensation released determinations on the compensation packages for the Top 25 at the seven firms that were then exceptional assistance recipients. 5 The Office of the Special Master generally rejected the companies' initial proposals for these Top 25 executives and approved a modified set of compensation structures with the following features: Cash salaries generally no greater than $500,000, with the remainder of compensation in equity, mostly in the form of vested "stock salary," which executives must hold until 2011, after which it can be transferred in three equal, annual installments (subject to acceleration of one year upon the company's repayment of federal assistance). Annual incentives payable in "long-term restricted stock," which is forfeited unless the employee provides three years of service after it is granted, in amounts determined based on objective performance criteria. Actual payment of the restricted stock is subject to the company's repayment of TARP funds (the stock may be paid in 25% installments for each 25% of TARP obligations that are repaid). $25,000 limit on perquisites and "other" compensation, absent special justification. No further accruals or company contributions to executive pension and retirement programs. o In March 2010, the Office of the Special Master issued rulings for the 2010 compensation for the Top 25 executives at the five firms that were then exceptional assistance recipients: AIG, Chrysler, Chrysler Financial, GM, and GMAC. The rulings have the following general features: Decreased total cash compensation by 33 percent compared to the cash compensation these individual executives received in 2009; Reduced total compensation at AIG, GMAC, and Chrysler Financial by 15 percent compared to the pay these executives received in 2009; and Kept cash salaries at $500,000 or less, other than in exceptional cases. Determinations for the Covered Employees 26 - 100 o In December 2009, the Special Master issued determinations on the compensation structures for Covered Employees 26-100 at each of the six firms that were then exceptional assistance recipients. Unlike the October rulings, which addressed specific amounts payable to the Top 25 executives, Treasury regulations require the Special Master only to address compensation structures for Covered Employees 26 - 100. These determinations covered four companies: AIG, Citigroup, GM, and GMAC. Chrysler and Chrysler Financial were (with the exception of one employee) not required to obtain the Special Master's approval during this round because total pay for each executive did not exceed the $500,000 "safe harbor" limitation in Treasury's compensation regulations. . The 2009 compensation structures approved by the Special Master for the Covered Employees 26 -100 have the following general features: o 5 Copies of the determination letters and information on executive compensation is available at: http://www.FinancialStability.gov/about/executivecompensation.html. Appendix 1 - page 26 Monthly 105(a) Report August 2010 Short-term cash compensation is restricted. Cash salaries are generally limited to $500,000 other than in exceptional cases, and overall cash is limited in most cases to 45% of total compensation in cash. All other pay must be in company stock; Incentive compensation without real achievement of performance is forbidden. Total incentives are limited to a fixed pool, incentive payments may be made only if objective goals are achieved, and all such payments must be subject to "clawback" if results prove illusory; Compensation structures must have a long-term focus. In most cases, at least 50 percent of total compensation must be held for three years, at least 50 percent of incentive pay must be granted in long-term stock, and any cash incentives must be delivered over at least two years--single, lump-sum cash bonuses are not permitted; and Pay practices that are not aligned with shareholder and taxpayer interests, such as golden parachutes, supplemental executive retirement benefits, excessive perquisites and tax gross-ups are frozen or forbidden. o In April 2010, the Office of the Special Master issued rulings for 2010 compensation structures for Covered Employees 26-100 at the five remaining firms receiving exceptional assistance. These rulings reaffirmed that the principles and requirements of the 2009 determinations for Covered Employees 26-100 must continue to apply in 2010. In addition to determinations for the Top 25 Employees and Covered Employees 26-100 groups, the Special Master has issued supplemental determinations from time to time, including determinations approving pay packages for the new chief executive officer of GMAC and the new chief financial officer of GM. The pay packages approved by the Special Master for the newly hired executives generally conform to the principles and structures of the regular determinations. All the Special Master's determinations are available at the website below. o Effects of TARP Repayment o Prior to the Special Master's issuance of determinations for the Covered Employees 26-100 groups, Bank of America repaid its TARP obligations. As a result, the compensation structures for Bank of America's Covered Employees 26-100 were no longer subject to the Special Master's review, and no determination in that regard was issued. Payments to Bank of America's Top 25 relating to service prior to the repayment, however, remain subject to the Special Master's October 2009 determinations. After the Special Master issued determinations for the Covered Employees 26-100 groups, Citigroup repaid certain TARP obligations, and ceased to be an "exceptional assistance recipient" for purposes of the Rule. As a result, Special Master approval is not required for future compensation structures and payments to Citigroup executives. Payments and compensation structures for Citigroup's Top 25 and Covered Employees 26-100 relating to service prior to the repayment, however, remain subject to the Special Master's October and December 2009 determinations, respectively. The executive compensation restrictions that apply to TARP recipients that are not "exceptional assistance recipients" will continue to apply to Citigroup until it extinguishes its remaining TARP obligations. Chrysler Financial fully repaid its loan from Treasury in July 2009 (prior to the Special Master's initial determinations), but remained an exceptional assistance recipient because its affiliates still had outstanding TARP obligations under an exceptional assistance program. The remaining obligations at affiliate companies were extinguished for purposes of the Rule in May 2010, upon Treasury's acceptance of a settlement payment as satisfaction in full of all existing debt obligations of Chrysler Financial's parent, CGI Holding LLC. As a result, Special Appendix 1 - page 27 o o Monthly 105(a) Report August 2010 Master approval is not required for future compensation structures and payments to Chrysler Financial executives. Payments and compensation structures for Chrysler Financial's Top 25 and Covered Employees 26 - 100 relating to service prior to the payment, however, remain subject to the Special Master's previous determinations. Review of Prior Payments - "Lookback" Review o In July 2010, the Special Master announced the conclusion of the "lookback" review of bonuses and other compensation paid to "Top 25" executives at TARP recipients between the date these companies first received TARP financial assistance and February 17, 2009. The Special Master was charged with reviewing these payments to determine if they were "inconsistent with the purposes of Section 111 of EESA or the TARP or were otherwise contrary to the public interest." The Special Master found that most of the reviewed payments were made by firms that fully repaid their TARP financial assistance, or were taken into consideration in the Special Master's 2009 determinations regarding "exceptional assistance recipients." Additionally, at the time the reviewed payments were made, compensation such as cash conuses and retention awards were permitted by the rules then in place. The Special Master therefore did not determine that any of the reviewed payments were contrary to the public interest. The Special Master nevertheless concluded that some action was warranted. He therefore proposed that all TARP recipients adopt a prospective compensation policy that would provide companies the authority to alter pending payments to executives in the event of a financial crisis. Adoption of the proposed policy is voluntary. For complete information regarding the Special Master's review of prior payments, please visit: http://www.FinancialStability.gov/about/executivecompensation.html and http://www.FinancialStability.gov/latest/pr_07232010.html. o Appendix 1 - page 28 Monthly 105(a) Report III. How Treasury Exercises Its Voting Rights August 2010 Treasury is a shareholder in General Motors, Ally Financial (formerly GMAC), Citigroup and Chrysler. The Obama Administration has stated that core principles will guide Treasury's management of financial interests in private firms. One such principle is that the United States government will not interfere with or exert control over day-to-day company operations and, in the event that the government obtains ownership interests, it will vote only on key governance issues. These core principles also include Treasury's commitment to seek to dispose of its ownership interests as soon as practicable. Treasury will follow these principles in a manner consistent with the obligation to promote the liquidity and stability of the financial system. o Treasury does not participate in the day-to-day management of any company in which it has an investment nor is any Treasury employee a director of any such company. Treasury's investments have generally been in the form of non-voting securities or loans. For example, the preferred shares that Treasury holds in financial institutions under the Capital Purchase Program do not have voting rights except in certain limited circumstances, such as amendments to the charter of the company, or in the event dividends are not paid for several quarters, in which case Treasury has the right to elect two directors to the board. Treasury has announced that it will follow the following principles in exercising its voting rights: (1) Treasury intends to exercise its right to vote only on certain matters consisting of the election or removal of directors; certain major corporate transactions such as mergers, sales of substantial amounts of assets, and dissolution; issuances of equity securities where shareholders are entitled to vote; and amendments to the charter or bylaws; (2) on all other matters, Treasury will either abstain from voting or vote its shares in the same proportion (for, against or abstain) as all other shares of the company's stock are voted. In connection with Treasury's ownership of common stock of GM, Ally Financial and Chrysler, Treasury received contractual rights to designate members of the board of directors for each of the companies. For public companies such as Citigroup, Treasury has entered into an agreement in which these principles are set forth. For private companies such as GM, Ally and Chrysler, Treasury follows the principles voluntarily or as set forth in a stockholder agreement. In GM, they are largely reflected as terms following an initial public offering (IPO). In the case of AIG: The U.S. Treasury is the beneficiary of a trust created by the Federal Reserve Bank of New York (FRBNY). That trust owns shares having 79.8% of the voting rights of the common stock. The FRBNY has appointed three independent trustees who have the power to vote on the stock and dispose of the stock with prior approval of FRBNY and after consultation with Treasury. The trust agreement provides that the trustees cannot be employees of Treasury or the FRBNY. The trust exists for the benefit of the U.S. Treasury, and the Department of the Treasury does not control the trust and it cannot direct the trustees. Treasury owns preferred stock in AIG which does not have voting rights except in certain limited circumstances (such as amendments to the charter). Treasury has the right to appoint directors because AIG failed to pay dividends for four quarters on the preferred stock held by Treasury. Appendix 1 - page 29 o o o o Monthly 105ga) Report August 2010 Appendix 2 Financial Statement United States Department of the Treasury Office of Financial Stability Report of Administrative Obligations and Expenditures For Period Ending August 31, 2010 Budget Object Class (BOC) Budget Object Class Title 1100 & 1200 PERSONNEL COMPENSATION & BENEFITS PERSONNEL SERVICES Total: 2100 TRAVEL & TRANSPORTATION OF PERSONS 2200 TRANSPORTATION OF THINGS 2300 RENTS, COMMUNICATIONS, UTILITIES & MISC CHARGES 2400 PRINTING & REPRODUCTION 2500 OTHER SERVICES 2600 SUPPLIES AND MATERIALS 3100 EQUIPMENT 3200 LAND & STRUCTURES 4300 INTEREST & DIVIDENDS NON-PERSONNEL SERVICES Total: For Period Ending September 30, 2010 Projected Obligations 44,582,000 44,582,000 833,000 12,000 670,000 400 130,866,000 547,000 232,000 30 133,160,430 Projected Expenditures 44,356,000 44,356,000 784,000 12,000 347,000 400 98,186,000 517,000 223,000 30 100,069,430 PERSONNEL SERVICES NON-PERSONNEL SERVICES $ $ $ $ Obligations 42,004,869 42,004,869 792,261 11,960 669,885 395 127,651,687 526,597 232,054 27 129,884,866 $ $ $ $ Expenditures 41,778,338 41,778,338 744,626 11,960 335,924 395 93,911,512 499,867 222,675 27 95,726,986 $ $ $ $ $ $ $ $ GRAND TOTAL: $ 171,889,734 $ 137,505,324 $ 177,742,430 $ 144,425,430 U.S. Treasury Department Office of Financial Stability Troubled Asset Relief Program Agreements Under TARP [Section 105(a)(3)(A)] For Period Ending August 31, 2010 Date Approved or Renewed 10/10/2008 10/11/2008 10/14/2008 10/16/2008 10/18/2008 10/23/2008 10/29/2008 10/29/2008 10/31/2008 11/7/2008 11/14/2008 11/14/2008 12/3/2008 12/5/2008 12/5/2008 12/12/2008 12/15/2008 12/24/2008 1/6/2009 1/6/2009 1/7/2009 1/9/2009 1/27/2009 1/27/2009 2/2/2009 2/9/2009 2/12/2009 2/18/2009 2/18/2009 2/20/2009 2/20/2009 2/22/2009 3/6/2009 3/16/2009 3/23/2009 3/30/2009 3/30/2009 3/30/2009 3/30/2009 3/31/2009 4/3/2009 4/17/2009 4/17/2009 4/21/2009 4/21/2009 4/21/2009 5/4/2009 5/14/2009 5/14/2009 5/22/2009 5/26/2009 5/26/2009 6/5/2009 6/8/2009 6/29/2009 7/15/2009 7/17/2009 7/30/2009 7/30/2009 7/30/2009 8/11/2009 8/18/2009 9/2/2009 9/10/2009 9/14/2009 9/30/2009 11/29/2009 12/22/2009 12/22/2009 12/22/2009 12/22/2009 12/22/2009 12/22/2009 1/4/2010 1/15/2010 1/29/2010 2/16/2010 3/29/2010 4/12/2010 4/13/2010 4/14/2010 4/20/2010 4/20/2010 4/22/2010 4/23/2010 5/17/2010 6/24/2010 6/30/2010 7/21//2010 7/21//2010 7/22/2010 7/22/2010 7/22/2010 7/27/2010 8/6/2010 8/6/2010 8/6/2010 8/6/2010 8/6/2010 8/6/2010 8/6/2010 8/6/2010 8/6/2010 8/6/2010 8/6/2010 8/6/2010 8/6/2010 8/12/2010 Type of Transaction BPA BPA Financial Agent BPA BPA IAA BPA BPA Contract BPA IAA Procurement IAA IAA Procurement IAA IAA Procurement IAA IAA Procurement IAA BPA Procurement IAA Contract Contract Financial Agent Financial Agent IAA Contract Contract Contract Financial Agent Procurement Contract Contract Contract Contract BPA Procurement Procurement IAA Financial Agent Financial Agent Financial Agent IAA Contract IAA IAA Contract Contract Contract IAA IAA Contract Contract Contract Contract Contract IAA Contract Contract Contract Contract Contract IAA Financial Agent Financial Agent Financial Agent Financial Agent Financial Agent Financial Agent IAA Contract Contract Contract Financial Agent Contract BPA Contract IAA BPA BPA BPA Financial Agent Contract Contract Contract Contract Contract Contract Contract Contract Contract Contract Contract Contract Contract Contract Contract Contract Contract Contract Contract Contract Contract Contract Vendor Simpson, Thacher & Bartlett EnnisKnupp Bank of New York Mellon PricewaterhouseCoopers Ernst & Young GSA - Turner Consulting* Hughes Hubbard & Reed Squire Sanders & Dempsey Lindholm & Associates* Thacher Proffitt & Wood** Securities and Exchange Commission CSC Systems and Solutions Trade and Tax Bureau - Treasury Department of Housing and Urban Development Washington Post Pension Benefit Guaranty Corp. Office of Thrift Supervision Cushman and Wakefield of VA, Inc. Office of the Controller of the Currency State Department Colonial Parking Internal Revenue Service Cadwalader Wickersham & Taft, LLP Whitaker Brothers Bus. Machines* Government Accountability Office Pat Taylor and Associates, Inc* Locke Lord Bissell & Lidell LLP Freddie Mac Fannie Mae Congressional Oversight Panel Simpson, Thacher & Bartlett Venable LLP Boston Consulting Group EARNEST Partners Heery International Inc. McKee Nelson, LLP*** Sonnenschein Nath & Rosenthal Cadwalader Wickersham & Taft, LLP Haynes and Boone LLP FI Consulting* American Furniture Rentals* Herman Miller Bureau of Printing and Engraving AllianceBernstein FSI Group Piedmont Investment Advisors Federal Reserve Phacil* Department of Treasury - US Mint Department of Justice - ATF Anderson, McCoy & Orta, LLP* Simpson, Thacher & Bartlett Department of Treasury - Internal Revenue Service Department of Treasury - Financial Management Service Department of Interior Judicial Watch Korn Ferry International y Cadwalader Wickersham & Taft, LLP Debevoise & Plimpton, LLP Fox Hefter Swibel Levin & Carol, LLP NASA Mercer, Inc. Knowledge Mosaic Inc.* Equilar, Inc.* PricewaterhouseCoopers SNL Financial LC Department of the Treasury - Departmental Offices Avondale Investments, LLC* Bell Rock Capital, LLC* Howe Barnes Hoefer and Arnett, Inc. KBW Asset Management, Inc. Lombardia Capital Partners, LLC* Paradigm Asset Management, LLC* Federal Maritime Commission Association of Government Accountants NNA Inc. The MITRE Corporation Morgan Stanley EnnisKnupp Qualx Corporation Squire Sanders & Dempsey FMS-Gartner Microlink LLC Digital Management Inc. RDA Corporation Lazard Fr?res & Co. LLC Reed Elsevier Inc. George Washington University Navigant Consulting, Inc. Regis & Associates PC* Schiff Hardin LLP PricewaterhouseCoopers Ernst & Young West Publishing Corporation Alston & Bird LLP Cadwalader Wickersham & Taft, LLP Fox Hefter Swibel Levin & Carol, LLP Haynes and Boone LLP Hughes Hubbard & Reed Love & Long LLP* Orrick Herrington Sutcliffe LLP Paul, Weiss, Rifkind, Wharton & Garrison LLP Perkins Coie LLP Shulman, Rogers, Gandal, Pordy & Ecker, PA Seyfarth Shaw LLP Sullivan Cove Reign Enterprises JV* Venable LLP Knowledge Mosaic Inc.* Purpose Legal Services Investment and Advisory Services Custodian and Cash Management Internal Control Services Accounting Services Archiving Services Legal Services Legal Services Human Resources Services Legal Services Detailees IT Services IT Services Detailees Vacancy Announcement Legal Services Detailees Painting Detailees Detailees Parking Detailees Legal Services Office Machines Oversight Temporary Employee Services Legal Services Homeownership Program Homeownership Program Oversight Legal Services Legal Services Management Consulting Support Asset Management Services Architects Legal Services Legal Services Legal Services Legal Services Modeling and Analysis Office Furniture Office Furniture Detailee Asset Management Services Asset Management Services Asset Management Services Detailee FOIA Services Administrative Support Detailee Legal Services Legal Services Administrative Support Administrative Support Administrative Support Legal Advisory Administrative Support Legal Advisory Legal Advisory Legal Advisory Detailee Administrative Support Administrative Support Administrative Support Asset Management Services Financial Advisory Administrative Support Financial Advisory Financial Advisory Financial Advisory Financial Advisory Financial Advisory Financial Advisory Detailee Administrative Support Administrative Support Administrative Support Asset Management Services Financial Advisory Administrative Support Legal Advisory Administrative Support Administrative Support Administrative Support Administrative Support Financial Advisory Administrative Support Administrative Support Administrative Support Administrative Support Legal Advisory Administrative Support Administrative Support Administrative Support Legal Advisory Legal Advisory Legal Advisory Legal Advisory Legal Advisory Legal Advisory Legal Advisory Legal Advisory Legal Advisory Legal Advisory Legal Advisory Legal Advisory Legal Advisory Administrative Support * Small or Women-, or Minority-Owned Small Business **Contract responsibilities assumed by Sonnenschein Nath & Rosenthal via novation. ***Contract responsibilities assumed by Bingham McCutchen, LLP via novation. U.S. Treasury Department Office of Financial Stability Troubled Asset Relief Program Insurance Contracts [Section 105(a)(3)(B)] For Period Ending August 31, 2010 Name Amount Termination of the $5,000,000,000 Master Agreement between Citigroup and the UST, and FDIC occurred on December 23, 2009 due to the improvement of Citigroup's financial condition and financial market stability. U.S. Treasury Department Office of Financial Stability Troubled Asset Relief Program Transactions Report [Section 105(3)(C, D, G)] For Period Ending August 31, 2010 CAPITAL PURCHASE PROGRAM Treasury Investment Remaining After Capital Repayment Remaining Capital Amount $ $ 0 0 Remaining Investment Description Warrants Warrants Final Disposition Date 3/3/2010 8/5/2009 Seller Purchase Details Pricing Mechanism Par Par Par Par Par Par Par Par Par Par Par P Par Par Par Par Par Par Par Par Par Par Par Par Par Capital Repayment Details Capital Repayment Capital Amount (Loss) 6 Repayment Date 12/9/2009 6/17/2009 ** 6/17/2009 6/17/2009 6/17/2009 6/17/2009 12/23/2009 4 4 23 4 4 4 5 4 Final Disposition Disposition Investment Description Warrants Warrants 1b Footnote 1b 11, 23 5/26/2010 Purchase Date 10/28/2008 10/28/2008 10/28/2008 10/28/2008 10/28/2008 10/28/2008 10/28/2008 10/28/2008 11/14/2008 11/14/2008 11/14/2008 11/14/2008 11/14/2008 11/14/2008 11/14/2008 11/14/2008 11/14/2008 11/14/2008 11/14/2008 11/14/2008 11/14/2008 11/14/2008 11/14/2008 11/14/2008 Name of Institution Bank of America Corporation The Bank of New York Mellon Corporation Citigroup Inc. The Goldman Sachs Group, Inc. JPMorgan Chase & Co. Morgan Stanley State Street Corporation Wells Fargo & Company Bank of Commerce Holdings 1st FS Corporation UCBH Holdings, Inc. N th Northern Trust Corporation T tC ti SunTrust Banks, Inc. Broadway Financial Corporation Washington Federal, Inc. BB&T Corp. M&T Bank Corporation (Provident Bancshares Corp.) Umpqua Holdings Corp. Comerica Inc. Regions Financial Corporation Capital One Financial Corporation First Horizon National Corporation Huntington Bancshares KeyCorp City Charlotte New York New York New York New York New York Boston San Francisco Redding Hendersonville San Francisco Chicago Chi Atlanta Los Angeles Seattle Winston-Salem Baltimore Portland Dallas Birmingham McLean Memphis Columbus Cleveland State NC NY NY NY NY NY MA CA CA NC CA IL GA CA WA NC MD OR TX AL VA TN OH OH Investment Description Preferred Stock w/ Warrants Preferred Stock w/ Warrants Common Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred St k w/ W P f d Stock / Warrants t Preferred Stock w/ Warrants Preferred Stock Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Investment Amount 15,000,000,000 3,000,000,000 25,000,000,000 10,000,000,000 25,000,000,000 10,000,000,000 2,000,000,000 25,000,000,000 17,000,000 16,369,000 298,737,000 1 576 000 000 1,576,000,000 3,500,000,000 9,000,000 200,000,000 3,133,640,000 151,500,000 214,181,000 2,250,000,000 3,500,000,000 3,555,199,000 866,540,000 1,398,071,000 2,500,000,000 15 Final Disposition Proceeds 186,342,969 136,000,000 $ $ 15,000,000,000 3,000,000,000 A $ R $ $ $ $ $ $ 10,000,000,000 25,000,000,000 10,000,000,000 2,000,000,000 25,000,000,000 $ $ $ $ $ 0 0 0 0 0 Warrants Warrants Warrants Warrants Warrants 7/22/2009 12/10/2009 8/12/2009 7/8/2009 5/20/2010 Warrants Warrants Warrants Warrants Warrants 9 R A R R A $ $ $ $ $ 1,100,000,000 950,318,243 950,000,000 60,000,000 849,014,998 14 6/17/2009 4 $ 1,576,000,000 1 576 000 000 $ 0 Warrants W t 8/26/2009 Warrants W t R $ 87,000,000 87 000 000 3a 11/24/2009 5/27/2009 6/17/2009 4 4 $ $ 200,000,000 3,133,640,000 $ $ 0 0 Warrants Warrants 3/9/2010 7/22/2009 Warrants Warrants A $ R $ 15,623,222 67,010,402 2/17/2010 3/17/2010 6/17/2009 5 4 $ $ $ 214,181,000 2,250,000,000 3,555,199,000 $ $ $ 0 0 0 Warrants Warrants Warrants 3/31/2010 5/6/2010 12/3/2009 Warrants Warrants Warrants 9 R $ A $ A $ 4,500,000 183,673,472 148,731,030 4 6/3/2009 11/14/2008 Valley National Bancorp Wayne NJ Preferred Stock w/ Warrants $ 300,000,000 Par 9/23/2009 12/23/2009 11/14/2008 11/14/2008 11/14/2008 11/14/2008 11/21/2008 11/21/2008 11/21/2008 11/21/2008 11/21/2008 11/21/2008 11/21/2008 29 8/27/2010 11/21/2008 11/21/2008 11/21/2008 11/21/2008 11/21/2008 11/21/2008 Zions Bancorporation Marshall & Ilsley Corporation U.S. Bancorp TCF Financial Corporation First Niagara Financial Group HF Financial Corp. Centerstate Banks of Florida Inc. City National Corporation First Community Bankshares Inc. Western Alliance Bancorporation Webster Financial Corporation Pacific Capital Bancorp Heritage Commerce Corp. Ameris Bancorp Porter Bancorp Inc. Banner Corporation Cascade Financial Corporation Salt Lake City Milwaukee Minneapolis Wayzata Lockport Sioux Falls Davenport Beverly Hills Bluefield Las Vegas Waterbury Santa Barbara San Jose Moultrie Louisville Walla Walla Everett UT WI MN MN NY SD FL CA VA NV CT CA CA GA KY WA WA Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Mandatorily Convertible Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1,400,000,000 1,715,000,000 6,599,000,000 361,172,000 184,011,000 25,000,000 27,875,000 400,000,000 400 000 000 41,500,000 140,000,000 400,000,000 195,045,000 40,000,000 52,000,000 35,000,000 124,000,000 38,970,000 Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par 4 $ $ $ 75,000,000 125,000,000 100,000,000 $ $ $ 225,000,000 100,000,000 0 4 4 Preferred Stock w/ Warrants Preferred Stock w/ Warrants Warrants 5/18/2010 Warrants A $ 5,571,592 6/17/2009 4/22/2009 5/27/2009 6/3/2009 9/30/2009 12/30/2009 3/3/2010 7/8/2009 3/3/2010 4 4 5 4 5 4 $ $ $ $ $ $ 6,599,000,000 361,172,000 184,011,000 25,000,000 27,875,000 200,000,000 , , 200,000,000 41,500,000 100,000,000 $ $ $ $ $ $ $ $ $ 0 0 0 0 0 200,000,000 , , 0 0 300,000,000 4 5 $ $ $ Warrants Warrants Warrants Warrants Warrants Preferred Stock w/ Warrants Warrants Warrants Preferred Stock w/ Warrants 7/15/2009 12/15/2009 6/24/2009 6/30/2009 10/28/2009 Warrants Warrants Warrants Warrants Warrants 9 9 R A R R R $ $ $ $ $ 139,000,000 9,599,964 2,700,000 650,000 212,000 4/7/2010 Warrants R $ 18,500,000 4 Page 4 of 46 Seller Purchase Details Pricing Mechanism Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Capital Repayment Details Capital Repayment Capital Amount (Loss) 6 Repayment Date 8/11/2010 4 Treasury Investment Remaining After Capital Repayment Remaining Capital Amount $ 0 Remaining Investment Description Warrants Final Disposition Date Final Disposition Disposition Investment Description Final Disposition Proceeds Footnote Purchase Date 11/21/2008 11/21/2008 11/21/2008 11/21/2008 11/21/2008 11/21/2008 11/21/2008 11/21/2008 11/21/2008 11/21/2008 Name of Institution Columbia Banking System, Inc. Heritage Financial Corporation First PacTrust Bancorp, Inc. Severn Bancorp, Inc. Boston Private Financial Holdings, Inc. Associated Banc-Corp Trustmark Corporation First Community Corporation Taylor Capital Group Nara Bancorp, Inc. Midwest Banc Holdings, Inc. MB Financial Inc. First Midwest Bancorp, Inc. United Community Banks, Inc. WesBanco, Inc. Encore Bancshares Inc. Manhattan Bancorp Iberiabank Corporation Eagle Bancorp, Inc. Sandy Spring Bancorp, Inc. Coastal Banking Company, Inc. East West Bancorp South Financial Group, Inc. Great Southern Bancorp Cathay General Bancorp Southern Community Financial Corp. CVB Financial Corp First Defiance Financial Corp. First Financial Holdings Inc. Superior Bancorp Inc. Southwest Bancorp, Inc. Popular, Inc. Blue Valley Ban Corp Central Federal Corporation Bank of Marin Bancorp BNC Bancorp Central Bancorp, Inc. Southern Missouri Bancorp, Inc. State Bancorp, Inc. TIB Financial Corp Unity Bancorp, Inc. Old Line Bancshares, Inc. FPB Bancorp, Inc. B I Sterling Financial Corporation Oak Valley Bancorp Old National Bancorp Capital Bank Corporation Pacific International Bancorp SVB Financial Group LNB Bancorp Inc. Wilmington Trust Corporation Susquehanna Bancshares, Inc Signature Bank HopFed Bancorp City Tacoma Olympia Chula Vista Annapolis Boston Green Bay Jackson Lexington Rosemont Los Angeles Melrose Park Chicago Itasca Blairsville Wheeling Houston El Segundo Lafayette Bethesda Olney Fernandina Beach Pasadena Greenville Springfield Los Angeles Winston-Salem Ontario Defiance Charleston Birmingham Stillwater San Juan Overland Park Fairlawn Novato Thomasville Somerville Poplar Bluff Jericho Naples Clinton Bowie Port St. Lucie P t St L i Spokane Oakdale Evansville Raleigh Seattle Santa Clara Lorain Wilmington Lititz New York Hopkinsville State WA WA CA MD MA WI MS SC IL CA IL IL IL GA WV TX CA LA MD MD FL CA SC MO CA NC CA OH SC AL OK PR KS OH CA NC MA MO NY FL NJ MD FL WA CA IN NC WA CA OH DE PA NY KY Investment Description Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Mandatorily Convertible Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Trust Preferred Securities w/ Warrants Preferred Stock w/ Warrants Trust Preferred Securities w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred St k w/ W P f d Stock / Warrants t Common Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Investment Amount 76,898,000 24,000,000 19,300,000 23,393,000 154,000,000 525,000,000 215,000,000 11,350,000 104,823,000 67,000,000 89,388,000 196,000,000 193,000,000 180,000,000 75,000,000 34,000,000 1,700,000 90,000,000 38,235,000 83,094,000 9,950,000 306,546,000 347,000,000 58,000,000 258,000,000 42,750,000 130,000,000 37,000,000 65,000,000 69,000,000 70,000,000 935,000,000 21,750,000 7,225,000 28,000,000 31,260,000 10,000,000 9,550,000 36,842,000 37,000,000 20,649,000 7,000,000 5 800 000 5,800,000 303,000,000 13,500,000 100,000,000 41,279,000 6,500,000 235,000,000 25,223,000 330,000,000 300,000,000 120,000,000 18,400,000 15 $ 76,898,000 1/13/2010 6/16/2010 12/9/2009 4 4 $ $ $ 50,000,000 104,000,000 215,000,000 $ $ $ 104,000,000 0 0 Preferred Stock w/ Warrants Warrants Warrants 12/30/2009 Warrants R $ 10,000,000 4 14, 20 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 9/9/2009 9/16/2009 3/31/2009 12/23/2009 7/21/2010 4 $ $ $ $ $ 75,000,000 1,700,000 90,000,000 15,000,000 41,547,000 $ $ $ $ $ 0 0 0 23,235,000 41,547,000 Warrants Warrants Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants 12/23/2009 10/14/2009 5/20/2009 Warrants Warrants Warrants R $ R $ R $ 950,000 63,364 1,200,000 4 5 9 5 4 26 5/18/2010 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/5/2008 12/12/2008 12/12/2008 12/12/2008 12/12/2008 12/12/2008 12/12/2008 12/12/2008 12/12/2008 12/12/2008 4 Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par P Par Par Par Par Par Par Par Par Par Par Par Par 8/26/2009 9/2/2009 4 $ $ 97,500,000 $ 32,500,000 0 32,500,000 $ Preferred Stock w/ Warrants Warrants 9 10/28/2009 Warrants R $ 1,307,000 17 12 3/31/2009 4 $ 28,000,000 $ 0 Warrants 7/15/2009 4 $ 7,000,000 $ 0 Warrants 9/2/2009 Warrants R $ 225,000 24 3/31/2009 4 $ 100,000,000 $ 0 Warrants 5/8/2009 Warrants R $ 1,200,000 12/23/2009 5 $ 235,000,000 $ 0 Warrants 6/16/2010 Warrants R $ 6,820,000 4/21/2010 3/31/2009 4 4 $ $ 200,000,000 120,000,000 $ $ 100,000,000 0 Warrants Warrants 3/10/2010 Warrants A $ 11,320,751 Page 5 of 46 Seller Purchase Details Pricing Mechanism Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Capital Repayment Details Capital Repayment Capital Amount (Loss) 6 Repayment Date Treasury Investment Remaining After Capital Repayment Remaining Capital Amount Remaining Investment Description Final Disposition Date Final Disposition Disposition Investment Description Final Disposition Proceeds Footnote Purchase Date 12/12/2008 12/12/2008 12/12/2008 12/12/2008 12/12/2008 12/12/2008 12/12/2008 12/12/2008 12/12/2008 12/12/2008 Name of Institution Citizens Republic Bancorp, Inc. Indiana Community Bancorp Bank of the Ozarks, Inc. Center Financial Corporation NewBridge Bancorp Sterling Bancshares, Inc. The Bancorp, Inc. TowneBank Wilshire Bancorp, Inc. Valley Financial Corporation Independent Bank Corporation Pinnacle Financial Partners, Inc. First Litchfield Financial Corporation National Penn Bancshares, Inc. Northeast Bancorp Citizens South Banking Corporation Virginia Commerce Bancorp Fidelity Bancorp, Inc. LSB Corporation Intermountain Community Bancorp Community West Bancshares Synovus Financial Corp. Tennessee Commerce Bancorp, Inc. Community Bankers Trust Corporation BancTrust Financial Group, Inc. Enterprise Financial Services Corp. Mid Penn Bancorp, Inc. Summit State Bank VIST Financial Corp. Wainwright Bank & Trust Company Whitney Holding Corporation The Connecticut Bank and Trust Company CoBiz Financial Inc. Santa Lucia Bancorp Seacoast Banking Corporation of Florida Horizon Bancorp Fidelity Southern Corporation Community Financial Corporation Berkshire Hills Bancorp, Inc. First California Financial Group, Inc AmeriServ Financial, Inc Security Federal Corporation Wintrust Financial Corporation Flushing Financial Corporation Monarch Financial Holdings, Inc. StellarOne Corporation Union First Market Bankshares Corporation (Union Bankshares Corporation) Tidelands Bancshares, Inc Bancorp Rhode Island, Inc. Hawthorn Bancshares, Inc. The Elmira Savings Bank, FSB Alliance Financial Corporation Heartland Financial USA, Inc. Citizens First Corporation FFW Corporation Plains Capital Corporation Tri-County Financial Corporation OneUnited Bank Patriot Bancshares, Inc. City Flint Columbus Little Rock Los Angeles Greensboro Houston Wilmington Portsmouth Los Angeles Roanoke Ionia Nashville Litchfield Boyertown Lewiston Gastonia Arlington Pittsburgh North Andover Sandpoint Goleta Columbus Franklin Glen Allen Mobile St. Louis Millersburg Santa Rosa Wyomissing Boston New Orleans Hartford Denver Atascadero Stuart Michigan City Atlanta Staunton Pittsfield Westlake Village Johnstown Aiken Lake Forest Lake Success Chesapeake Charlottesville Bowling Green Mt. Pleasant Providence Lee's Summit Elmira Syracuse Dubuque Bowling Green Wabash Dallas Waldorf Boston Houston State MI IN AR CA NC TX DE VA CA VA MI TN CT PA ME NC VA PA MA ID CA GA TN VA AL MO PA CA PA MA LA CT CO CA FL IN GA VA MA CA PA SC IL NY VA VA VA SC RI MO NY NY IA KY IN TX MD MA TX Investment Description Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Mandatorily Convertible Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock Preferred Stock w/ Exercised Warrants $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Investment Amount 300,000,000 21,500,000 75,000,000 55,000,000 52,372,000 125,198,000 45,220,000 76,458,000 62,158,000 16,019,000 74,426,000 95,000,000 10,000,000 150,000,000 4,227,000 20,500,000 71,000,000 7,000,000 15,000,000 27,000,000 15,600,000 967,870,000 30,000,000 17,680,000 50,000,000 35,000,000 10,000,000 8,500,000 25,000,000 22,000,000 300,000,000 5,448,000 64,450,000 4,000,000 50,000,000 25,000,000 48,200,000 12,643,000 40,000,000 25,000,000 21,000,000 18,000,000 250,000,000 70,000,000 14,700,000 30,000,000 59,000,000 14,448,000 30,000,000 30,255,000 9,090,000 26,918,000 81,698,000 8,779,000 7,289,000 87,631,000 15,540,000 12,063,000 26,038,000 15 11/4/2009 4 $ 75,000,000 $ 0 Warrants 11/24/2009 Warrants R $ 2,650,000 5/5/2009 3/10/2010 4 5 $ $ 125,198,000 45,220,000 $ $ 0 0 Warrants Warrants 6/9/2010 Warrants A $ 3,007,891 22 12/12/2008 12/12/2008 12/12/2008 12/12/2008 12/12/2008 12/12/2008 12/12/2008 12/12/2008 12/12/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 4/7/2010 4 $ 10,000,000 $ 0 Warrants 4/7/2010 Warrants R $ 1,488,046 11/18/2009 4 $ 15,000,000 $ 0 Warrants 12/16/2009 Warrants R $ 560,000 11/24/2009 4 $ 22,000,000 $ 0 Warrants 12/16/2009 Warrants R $ 568,700 5/27/2009 4 $ 40,000,000 $ 0 Warrants 6/24/2009 Warrants R $ 1,040,000 10/28/2009 12/23/2009 11/18/2009 5 5 $ $ $ 70,000,000 14,700,000 59,000,000 $ $ $ 0 0 0 Warrants Warrants 12/30/2009 2/10/2010 12/23/2009 Warrants Warrants 9 9 R $ R $ R $ 900,000 260,000 18 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 5 Warrants Warrants 9 450,000 8/5/2009 4 $ 30,000,000 $ 0 Warrants 9/30/2009 Warrants R $ 1,400,000 5/13/2009 4 $ 26,918,000 $ 0 Warrants 6/17/2009 Warrants R $ 900,000 2 2 2 2, 3 2 Page 6 of 46 Seller Purchase Details Pricing Mechanism Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Capital Repayment Details Capital Repayment Capital Amount (Loss) 6 Repayment Date Treasury Investment Remaining After Capital Repayment Remaining Capital Amount Remaining Investment Description Final Disposition Date Final Disposition Disposition Investment Description Final Disposition Proceeds Footnote 2 2 2 2 2 2 2 2 2 Purchase Date 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/19/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/23/2008 12/31/2008 12/31/2008 12/31/2008 12/31/2008 12/31/2008 12/31/2008 12/31/2008 Name of Institution Pacific City Financial Corporation Marquette National Corporation Exchange Bank Monadnock Bancorp, Inc. Bridgeview Bancorp, Inc. Fidelity Financial Corporation Patapsco Bancorp, Inc. NCAL Bancorp FCB Bancorp, Inc. First Financial Bancorp Bridge Capital Holdings International Bancshares Corporation First Sound Bank M&T Bank Corporation Emclaire Financial Corp. Park National Corporation Green Bankshares, Inc. Cecil Bancorp, Inc. Financial Institutions, Inc. Fulton Financial Corporation United Bancorporation of Alabama, Inc. MutualFirst Financial, Inc. BCSB Bancorp, Inc. HMN Financial, Inc. First Community Bank Corporation of America Sterling Bancorp Intervest Bancshares Corporation Peoples Bancorp of North Carolina, Inc. Parkvale Financial Corporation Timberland Bancorp, Inc. 1st Constitution Bancorp Central Jersey Bancorp Western Illinois Bancshares Inc. Saigon National Bank Capital Pacific Bancorp Uwharrie Capital Corp Mission Valley Bancorp The Little Bank, Incorporated Pacific Commerce Bank Citizens Community Bank Seacoast Commerce Bank TCNB Financial Corp. Leader Bancorp, Inc. Nicolet Bankshares, Inc. Magna Bank Western Community Bancshares, Inc. Community Investors Bancorp, Inc. p p, Capital Bancorp, Inc. Cache Valley Banking Company Citizens Bancorp Tennessee Valley Financial Holdings, Inc. Pacific Coast Bankers' Bancshares SunTrust Banks, Inc. The PNC Financial Services Group Inc. Fifth Third Bancorp Hampton Roads Bankshares, Inc. CIT Group Inc. West Bancorporation, Inc. First Banks, Inc. City Los Angeles Chicago Santa Rosa Peterborough Bridgeview Wichita Dundalk Los Angeles Louisville Cincinnati San Jose Laredo Seattle Buffalo Emlenton Newark Greeneville Elkton Warsaw Lancaster Atmore Muncie u ce Baltimore Rochester Pinellas Park New York New York Newton Monroeville Hoquiam Cranbury Oakhurst Monmouth Westminster Portland Albemarle Sun Valley Kinston Los Angeles South Hill Chula Vista Dayton Arlington Green Bay Memphis Palm Desert Bucyrus Rockville Logan Nevada City Oak Ridge San Francisco Atlanta Pittsburgh Cincinnati Norfolk New York West Des Moines Clayton State CA IL CA NH IL KS MD CA KY OH CA TX WA NY PA OH TN MD NY PA AL IN MD MN FL NY NY NC PA WA NJ NJ IL CA OR NC CA NC CA VA CA OH MA WI TN CA OH MD UT CA TN CA GA PA OH VA NY IA MO Investment Description Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Contingent Value Rights Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Investment Amount 16,200,000 35,500,000 43,000,000 1,834,000 38,000,000 36,282,000 6,000,000 10,000,000 9,294,000 80,000,000 23,864,000 216,000,000 7,400,000 600,000,000 7,500,000 100,000,000 72,278,000 11,560,000 37,515,000 376,500,000 10,300,000 32,382,000 10,800,000 26,000,000 10,685,000 42,000,000 25,000,000 25,054,000 31,762,000 16,641,000 12,000,000 11,300,000 6,855,000 1,549,000 4,000,000 10,000,000 5,500,000 7,500,000 4,060,000 3,000,000 1,800,000 2,000,000 5,830,000 14,964,000 13,795,000 7,290,000 2,600,000 4,700,000 , , 4,767,000 10,400,000 3,000,000 11,600,000 1,350,000,000 7,579,200,000 3,408,000,000 80,347,000 2,330,000,000 36,000,000 295,400,000 15 2/24/2010 5 $ 80,000,000 $ 0 Warrants 6/2/2010 Warrants 9 A $ 3,116,284 7/14/2010 4 $ 376,500,000 $ 0 Warrants 2 2 2 2 3, 30 8/20/2010 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 8/20/2010 4 $ 5,500,000 $ 0 N/A N/A N/A - N/A 11/24/2009 4 $ 3,455,000 $ 10,340,000 Preferred Stock 2 2/10/2010 4 $ 7,579,200,000 $ 0 Warrants 4/29/2010 Warrants A $ 324,195,686 31 8/12/2010 16 2 2/8/2010 16 $ (2,330,000,000) $ 0 N/A N/A N/A N/A Page 7 of 46 Seller Purchase Details Pricing Mechanism Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Capital Repayment Details Capital Repayment Capital Amount (Loss) 6 Repayment Date 12/9/2009 4/22/2009 1/6/2010 10/7/2009 4/8/2009 6/17/2009 4 4 4 Treasury Investment Remaining After Capital Repayment Remaining Capital Amount $ $ $ $ $ $ 0 0 21,513,000 0 0 0 Remaining Investment Description Warrants Warrants Preferred Stock w/ Warrants Warrants Warrants Warrants 5/27/2009 7/29/2009 Final Disposition Date 3/3/2010 5/27/2009 Final Disposition Disposition Investment Description Warrants Warrants 1b Footnote 1a, 1b Purchase Date 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/9/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 Name of Institution Bank of America Corporation FirstMerit Corporation Farmers Capital Bank Corporation Peapack-Gladstone Financial Corporation Commerce National Bank The First Bancorp, Inc. Sun Bancorp, Inc. Crescent Financial Corporation American Express Company Central Pacific Financial Corp. Centrue Financial Corporation Eastern Virginia Bankshares, Inc. Colony Bankcorp, Inc. Independent Bank Corp. Cadence Financial Corporation LCNB Corp. Center Bancorp, Inc. F.N.B. Corporation C&F Financial Corporation North Central Bancshares, Inc. Carolina Bank Holdings, Inc. First Bancorp First Financial Service Corporation Codorus Valley Bancorp, Inc. MidSouth Bancorp, Inc. First Security Group, Inc. Shore Bancshares, Inc. The Queensborough Company American State Bancshares, Inc. Security California Bancorp Security Business Bancorp Sound Banking Company Mission Community Bancorp Redwood Financial Inc. Surrey Bancorp Independence Bank Valley Community Bank Rising Sun Bancorp Community Trust Financial Corporation GrandSouth Bancorporation Texas National Bancorporation Congaree Bancshares, Inc. New York Private Bank & Trust Corporation Home Bancshares, Inc. Washington Banking Company New Hampshire Thrift Bancshares, Inc. Bar Harbor Bankshares Somerset Hills Bancorp p SCBT Financial Corporation S&T Bancorp ECB Bancorp, Inc. First BanCorp Texas Capital Bancshares, Inc. Yadkin Valley Financial Corporation Carver Bancorp, Inc Citizens & Northern Corporation MainSource Financial Group, Inc. MetroCorp Bancshares, Inc. City Charlotte Akron Frankfort Gladstone Newport Beach Damariscotta Vineland Cary New York Honolulu St. Louis Tappahannock Fitzgerald Rockland Starkville Lebanon Union Hermitage West Point Fort Dodge Greensboro Troy Elizabethtown York Lafayette Chattanooga Easton Louisville Great Bend Riverside San Diego Morehead City San Luis Obispo Redwood Falls Mount Airy East Greenwich Pleasanton Rising Sun Ruston Greenville Jacksonville Cayce New York Conway Oak Harbor Newport Bar Harbor Bernardsville Columbia Indiana Engelhard San Juan Dallas Elkin New York Wellsboro Greensburg Houston State NC OH KY NJ CA ME NJ NC NY HI MO VA GA MA MS OH NJ PA VA IA NC NC KY PA LA TN MD GA KS CA CA NC CA MN NC RI CA MD LA SC TX SC NY AR WA NH ME NJ SC PA NC PR TX NC NY PA IN TX Investment Description Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Mandatorily Convertible Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Investment Amount 10,000,000,000 125,000,000 30,000,000 28,685,000 5,000,000 25,000,000 89,310,000 24,900,000 3,388,890,000 135,000,000 32,668,000 24,000,000 28,000,000 78,158,000 44,000,000 13,400,000 10,000,000 100,000,000 20,000,000 10,200,000 16,000,000 65,000,000 20,000,000 16,500,000 20,000,000 33,000,000 25,000,000 12,000,000 6,000,000 6,815,000 5,803,000 3,070,000 5,116,000 2,995,000 2,000,000 1,065,000 5,500,000 5,983,000 24,000,000 9,000,000 3,981,000 3,285,000 267,274,000 50,000,000 26,380,000 10,000,000 18,751,000 , , 7,414,000 64,779,000 108,676,000 17,949,000 424,174,000 75,000,000 36,000,000 18,980,000 26,440,000 57,000,000 45,000,000 15 Final Disposition Proceeds 124,228,646 5,025,000 $ $ $ $ $ $ 10,000,000,000 125,000,000 7,172,000 5,000,000 89,310,000 3,388,890,000 A $ R $ 4 4 Warrants Warrants R $ R $ 2,100,000 340,000,000 4 4/22/2009 10/21/2009 9/9/2009 4 $ $ $ 78,158,000 13,400,000 100,000,000 $ $ $ 0 0 0 Warrants Warrants Warrants 5/27/2009 Warrants R $ 2,200,000 4 4 4/15/2009 4 $ 25,000,000 $ 0 Warrants 2 2 2 2 2 3 2 2 2 2 2 2 2 2 2 2 5/19/2010 4 $ 3,981,000 $ 0 Preferred Stock 2 5/19/2010 Preferred Stock 2, 7 R $ 199,000 2/24/2010 5/20/2009 5/20/2009 5 4 4 $ $ $ 18,751,000 7,414,000 , , 64,779,000 $ $ $ 0 0 0 Warrants Warrants Warrants 7/28/2010 6/24/2009 6/24/2009 Warrants Warrants Warrants R $ R $ R $ 250,000 275,000 , 1,400,000 28 7/20/2010 5/13/2009 8/27/2010 8/4/2010 4 $ $ $ 75,000,000 18,980,000 26,440,000 $ $ $ 0 0 0 Warrants 3/11/2010 N/A Warrants A $ - 6,709,061 3, 30 8/27/2010 1/16/2009 1/16/2009 1/16/2009 1/16/2009 4 4 N/A Warrants N/A N/A Page 8 of 46 Seller Purchase Details Pricing Mechanism Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Capital Repayment Details Capital Repayment Capital Amount (Loss) 6 Repayment Date Treasury Investment Remaining After Capital Repayment Remaining Capital Amount Remaining Investment Description Final Disposition Date Final Disposition Disposition Investment Description Final Disposition Proceeds Footnote Purchase Date 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/16/2009 1/23/2009 1/23/2009 1/23/2009 1/23/2009 1/23/2009 1/23/2009 1/23/2009 1/23/2009 1/23/2009 1/23/2009 1/23/2009 1/23/2009 1/23/2009 1/23/2009 1/23/2009 1/23/2009 1/23/2009 1/23/2009 1/23/2009 1/23/2009 1/23/2009 1/23/2009 1/23/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 Name of Institution United Bancorp, Inc. Old Second Bancorp, Inc. Pulaski Financial Corp OceanFirst Financial Corp. Community 1st Bank TCB Holding Company, Texas Community Bank Centra Financial Holdings, Inc. First Bankers Trustshares, Inc. Pacific Coast National Bancorp Community Bank of the Bay Redwood Capital Bancorp Syringa Bancorp Idaho Bancorp Puget Sound Bank United Financial Banking Companies, Inc. Dickinson Financial Corporation II The Baraboo Bancorporation Bank of Commerce State Bankshares, Inc. BNCCORP, Inc. First Manitowoc Bancorp, Inc. Southern Bancorp, Inc Bancorp Inc. Morrill Bancshares, Inc. Treaty Oak Bancorp, Inc. 1st Source Corporation Princeton National Bancorp, Inc. AB&T Financial Corporation First Citizens Banc Corp WSFS Financial Corporation Commonwealth Business Bank Three Shores Bancorporation, Inc. (Seaside National Bank & Trust) CalWest Bancorp Fresno First Bank First ULB Corp. Alarion Financial Services, Inc. Midland States Bancorp, Inc. Moscow Bancshares, Inc. Farmers Bank California Oaks State Bank Pierce County Bancorp Calvert Financial Corporation Liberty Bancshares, Inc. Crosstown Holding Company BankFirst Capital Corporation Southern Illinois Bancorp, Inc. FPB Financial Corp. Stonebridge Financial Corp. Peoples Bancorp Inc. Anchor BanCorp Wisconsin Inc. Parke Bancorp, Inc. Central Virginia Bankshares, Inc. Flagstar Bancorp, Inc. Middleburg Financial Corporation Peninsula Bank Holding Co. PrivateBancorp, Inc. Central Valley Community Bancorp Plumas Bancorp City Tecumseh Aurora Creve Coeur Toms River Roseville The Woodlands Morgantown Quincy San Clemente Oakland Eureka Boise Boise Bellevue Vienna Kansas City Baraboo Charlotte Fargo Bismarck Manitowoc Arkadelphia Merriam Austin South Bend Princeton Gastonia Sandusky Wilmington Los Angeles Orlando Rancho Santa Margarita Fresno Oakland Ocala Effingham Moscow Windsor Thousand Oaks Tacoma Ashland Jonesboro Blaine Macon Carmi Hammond West Chester Marietta Madison Sewell Powhatan Troy Middleburg Palo Alto Chicago Fresno Quincy State MI IL MO NJ CA TX WV IL CA CA CA ID ID WA VA MO WI NC ND ND WI AR KS TX IN IL NC OH DE CA FL CA CA CA FL IL TN VA CA WA MO AR MN MS IL LA PA OH WI NJ VA MI VA CA IL CA CA Investment Description Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Investment Amount 20,600,000 73,000,000 32,538,000 38,263,000 2,550,000 11,730,000 15,000,000 10,000,000 4,120,000 1,747,000 3,800,000 8,000,000 6,900,000 4,500,000 5,658,000 146,053,000 20,749,000 3,000,000 50,000,000 20,093,000 12,000,000 11,000,000 11 000 000 13,000,000 3,268,000 111,000,000 25,083,000 3,500,000 23,184,000 52,625,000 7,701,000 5,677,000 4,656,000 1,968,000 4,900,000 6,514,000 10,189,000 6,216,000 8,752,000 3,300,000 6,800,000 1,037,000 57,500,000 10,650,000 15,500,000 5,000,000 3,240,000 10,973,000 39,000,000 110,000,000 16,288,000 11,385,000 266,657,000 22,000,000 6,000,000 243,815,000 7,000,000 11,949,000 15 12/30/2009 5 $ 38,263,000 $ 0 Warrants 2/3/2010 Warrants 9 R $ 430,797 2 2 2 2 2, 19 3 2 2 2 2 2 2 2 2 2 2 2 3, 30 8/6/2010 2 2 3/31/2009 2/11/2010 4 $ $ 15,000,000 $ 0 0 Preferred Stock 2 N/A 4/15/2009 N/A Preferred Stock N/A 2, 7 R $ 750,000 N/A 19 (4,120,000) $ 8/12/2009 5/27/2009 8/6/2010 4 $ $ $ 12,500,000 12,000,000 11,000,000 11 000 000 $ $ $ 37,500,000 0 0 Preferred Stock 2 Preferred Stock 2 N/A 5/27/2009 N/A Preferred Stock N/A 2, 7 4 4 R $ - 600,000 N/A 2 2, 13 12/4/2009 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 4/22/2009 12/23/2009 4 $ $ 4,900,000 10,189,000 $ $ 0 0 Preferred Stock 2 Preferred Stock 2 4/22/2009 12/23/2009 Preferred Stock Preferred Stock 2, 7 R $ R $ 245,000 509,000 4 2, 7 12/16/2009 6/16/2010 4 4 $ $ 1,000,000 2,240,000 2 240 000 $ $ 2,240,000 0 Preferred Stock 2 Preferred Stock 2 6/16/2010 Preferred Stock 2, 7 R $ 162,000 12/23/2009 5 $ 22,000,000 $ 0 Warrants Page 9 of 46 Seller Purchase Details Pricing Mechanism Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Capital Repayment Details Capital Repayment Capital Amount (Loss) 6 Repayment Date Treasury Investment Remaining After Capital Repayment Remaining Capital Amount Remaining Investment Description Final Disposition Date Final Disposition Disposition Investment Description Final Disposition Proceeds Footnote Purchase Date 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 1/30/2009 2/6/2009 2/6/2009 2/6/2009 2/6/2009 2/6/2009 2/6/2009 Name of Institution Stewardship Financial Corporation Oak Ridge Financial Services, Inc. First United Corporation Community Partners Bancorp Guaranty Federal Bancshares, Inc. Annapolis Bancorp, Inc. DNB Financial Corporation Firstbank Corporation Valley Commerce Bancorp Greer Bancshares Incorporated Ojai Community Bank Adbanc, Inc Beach Business Bank Legacy Bancorp, Inc. First Southern Bancorp, Inc. Country Bank Shares, Inc. Katahdin Bankshares Corp. Rogers Bancshares, Inc. UBT Bancshares, Inc. Bankers' Bank of the West Bancorp, Inc. W.T.B. Financial Corporation AMB Financial Corp. Goldwater Bank, N.A. Equity Bancshares, Inc. WashingtonFirst Bankshares, Inc. (WashingtonFirst Bank) Central Bancshares, Inc. Hilltop Community Bancorp, Inc. Northway Financial, Inc. Monument Bank Metro City Bank F & M Bancshares, Inc. First Resource Bank MidWestOne Financial Group, Inc. Lakeland Bancorp, Inc. Monarch Community Bancorp, Inc. The First Bancshares, Inc. Carolina Trust Bank Alaska Pacific Bancshares, Inc. PGB Holdings, Inc. The Freeport State Bank Stockmens Financial Corporation US Metro Bank First Express of Nebraska, Inc. Mercantile Capital Corp. Citizens Commerce Bancshares, Inc. Liberty Financial Services, Inc. Lone Star Bank Union First Market Bankshares Corporation (First Market Bank, FSB) Banner County Ban Corporation Centrix Bank & Trust Todd Bancshares, Inc. Georgia Commerce Bancshares, Inc. First Bank of Charleston, Inc. F & M Financial Corporation The Bank of Currituck CedarStone Bank Community Holding Company of Florida, Inc. City Midland Park Oak Ridge Oakland Middletown Springfield Annapolis Downingtown Alma Visalia Greer Ojai Ogallala Manhattan Beach Milwaukee Boca Raton Milford Houlton Little Rock Marysville Denver Spokane Munster u ste Scottsdale Wichita Reston Houston Summit Berlin Bethesda Doraville Trezevant Exton Iowa City Oak Ridge Coldwater Hattiesburg Lincolnton Juneau Chicago Harper Rapid City Garden Grove Gering Boston Versailles New Orleans Houston Bowling Green Harrisburg Bedford Hopkinsville Atlanta Charleston Salisbury Moyock Lebanon Miramar Beach State NJ NC MD NJ MO MD PA MI CA SC CA NE CA WI FL NE ME AR KS CO WA IN AZ KS VA TX NJ NH MD GA TN PA IA NJ MI MS NC AK IL KS SD CA NE MA KY LA TX VA NE NH KY GA WV NC NC TN FL Investment Description Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Investment Amount 10,000,000 7,700,000 30,000,000 9,000,000 17,000,000 8,152,000 11,750,000 33,000,000 7,700,000 9,993,000 2,080,000 12,720,000 6,000,000 5,498,000 10,900,000 7,525,000 10,449,000 25,000,000 8,950,000 12,639,000 110,000,000 3,674,000 2,568,000 8,750,000 6,633,000 5,800,000 4,000,000 10,000,000 4,734,000 7,700,000 4,609,000 2,600,000 16,000,000 59,000,000 6,785,000 5,000,000 4,000,000 4,781,000 3,000,000 301,000 15,568,000 2,861,000 5,000,000 3,500,000 6,300,000 5,645,000 3,072,000 3 072 000 33,900,000 795,000 7,500,000 4,000,000 8,700,000 3,345,000 17,000,000 4,021,000 3,564,000 1,050,000 15 2 2 2 2 2 3 2 2 2 2 2 2 2 2 2 2 2, 13 10/30/2009 2 2 2 2 2 2 2 6/16/2010 4 $ 10,900,000 $ 0 Preferred Stock 2 6/16/2010 Preferred Stock 2, 7 R $ 545,000 4/21/2010 4 $ 4,000,000 $ 0 Preferred Stock 2 4/21/2010 Preferred Stock 2, 7 R $ 200,000 8/4/2010 4 $ 20,000,000 $ 39,000,000 Preferred Stock w/ Warrants 3, 30 8/13/2010 2 2 2 2 2 2 3 2 18 2 2 2 2 2 2 2 2 2 2/6/2009 2/6/2009 2/6/2009 2/6/2009 2/6/2009 2/6/2009 2/6/2009 2/6/2009 2/6/2009 2/6/2009 2/6/2009 2/6/2009 2/6/2009 2/6/2009 2/6/2009 2/6/2009 2/6/2009 2/6/2009 2/6/2009 8/13/2010 4 $ 3,000,000 $ 0 N/A N/A N/A - N/A Page 10 of 46 Seller Purchase Details Pricing Mechanism Par Par Par Par Capital Repayment Details Capital Repayment Capital Amount (Loss) 6 Repayment Date Treasury Investment Remaining After Capital Repayment Remaining Capital Amount Remaining Investment Description Final Disposition Date Final Disposition Disposition Investment Description Final Disposition Proceeds Footnote 2 2, 13 2/10/2010 2 Purchase Date 2/6/2009 2/6/2009 2/6/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/13/2009 2/20/2009 2/20/2009 2/20/2009 2/20/2009 2/20/2009 2/20/2009 2/20/2009 2/20/2009 2/20/2009 2/20/2009 2/20/2009 2/20/2009 2/20/2009 2/20/2009 2/20/2009 2/20/2009 2/20/2009 2/20/2009 2/20/2009 2/20/2009 2/20/2009 2/20/2009 2/20/2009 2/27/2009 2/27/2009 Name of Institution Hyperion Bank Pascack Bancorp, Inc. (Pascack Community Bank) First Western Financial, Inc. QCR Holdings, Inc. Westamerica Bancorporation The Bank of Kentucky Financial Corporation PremierWest Bancorp Carrollton Bancorp FNB United Corp. First Menasha Bancshares, Inc. 1st Enterprise Bank DeSoto County Bank Security Bancshares of Pulaski County, Inc. State Capital Corporation BankGreenville Corning Savings and Loan Association Financial Security Corporation ColoEast Bankshares, Inc. Santa Clara Valley Bank, N.A. Reliance Bancshares Inc Bancshares, Inc. Regional Bankshares, Inc. Peoples Bancorp First Choice Bank Gregg Bancshares, Inc. Hometown Bancshares, Inc. Midwest Regional Bancorp, Inc. Bern Bancshares, Inc. Northwest Bancorporation, Inc. Liberty Bancshares, Inc. F&M Financial Corporation Meridian Bank Northwest Commercial Bank Royal Bancshares of Pennsylvania, Inc. First Merchants Corporation Northern States Financial Corporation Sonoma Valley Bancorp Guaranty Bancorp, Inc. The Private Bank of California Lafayette Bancorp, Inc. Liberty Shares, Inc. White River Bancshares Company United American Bank Crazy Woman Creek Bancorp, Inc. First Priority Financial Corp. Mid-Wisconsin Financial Services, Inc. Market Bancorporation, Inc. Hometown Bancorp of Alabama, Inc. Security State Bancshares, Inc. CBB Bancorp BancPlus Corporation Central Community Corporation First BancTrust Corporation Premier Service Bank Florida Business BancGroup, Inc. Hamilton State Bancshares Lakeland Financial Corporation First M&F Corporation City Philadelphia Westwood Denver Moline San Rafael Crestview Hills Medford Baltimore Asheboro Neenah Los Angeles Horn Lake Waynesville Greenwood Greenville Corning Basin Lamar Santa Paula Frontenac Hartsville Lynden Cerritos Ozark Corbin Festus Bern Spokane Springfield Clarksville Devon Lakewood Narberth Muncie Waukegan Sonoma Woodsville Los Angeles Oxford Hinesville Fayetteville San Mateo Buffalo Malvern Medford New Market Oneonta Charleston Cartersville Ridgeland Temple Paris Riverside Tampa Hoschton Warsaw Kosciusko State PA NJ CO IL CA KY OR MD NC WI CA MS MO MS SC AR WY CO CA MO SC WA CA MO KY MO KS WA MO TN PA WA PA IN IL CA NH CA MS GA AR CA WY PA WI MN AL MO GA MS TX IL CA FL GA IN MS Investment Description Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Trust Preferred Securities w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Investment Amount 1,552,000 3,756,000 8,559,000 38,237,000 83,726,000 34,000,000 41,400,000 9,201,000 51,500,000 4,797,000 4,400,000 1,173,000 2,152,000 15,000,000 1,000,000 638,000 5,000,000 10,000,000 2,900,000 40,000,000 40 000 000 1,500,000 18,000,000 2,200,000 825,000 1,900,000 700,000 985,000 10,500,000 21,900,000 17,243,000 6,200,000 1,992,000 30,407,000 69,600,000 46,400,000 17,211,000 8,653,000 6,920,000 5,450,000 1,998,000 17,280,000 16,800,000 8,700,000 3,100,000 4,579,000 10,000,000 2,060,000 3,250,000 12,500,000 2,644,000 48,000,000 22,000,000 7,350,000 4,000,000 9,495,000 7,000,000 56,044,000 30,000,000 15 4 Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par 9/2/2009 11/18/2009 4 $ $ 41,863,000 41,863,000 $ $ 41,863,000 0 Preferred Stock w/ Warrants Warrants 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 11/10/2009 4 $ 700,000 $ 0 Preferred Stock 2 11/10/2009 Preferred Stock 2, 7 R $ 35,000 27 2, 25 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 6/9/2010 5 $ 56,044,000 $ 0 Warrants Page 11 of 46 Seller Purchase Details Pricing Mechanism Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Capital Repayment Details Capital Repayment Capital Amount (Loss) 6 Repayment Date Treasury Investment Remaining After Capital Repayment Remaining Capital Amount Remaining Investment Description Final Disposition Date Final Disposition Disposition Investment Description Final Disposition Proceeds Footnote Purchase Date 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 2/27/2009 3/6/2009 3/6/2009 3/6/2009 3/6/2009 3/6/2009 3/6/2009 3/6/2009 3/6/2009 3/6/2009 3/6/2009 3/6/2009 3/6/2009 3/6/2009 3/6/2009 3/6/2009 3/6/2009 3/6/2009 3/6/2009 3/6/2009 3/6/2009 3/6/2009 3/6/2009 3/13/2009 3/13/2009 3/13/2009 3/13/2009 3/13/2009 3/13/2009 3/13/2009 3/13/2009 3/13/2009 3/13/2009 Name of Institution Southern First Bancshares, Inc. Integra Bank Corporation Community First Inc. BNC Financial Group, Inc. California Bank of Commerce Columbine Capital Corp. National Bancshares, Inc. First State Bank of Mobeetie Ridgestone Financial Services, Inc. Community Business Bank D.L. Evans Bancorp TriState Capital Holdings, Inc. Green City Bancshares, Inc. First Gothenburg Bancshares, Inc. Green Circle Investments, Inc. Private Bancorporation, Inc. Regent Capital Corporation Central Bancorp, Inc. Medallion Bank PSB Financial Corporation Avenue Financial Holdings, Inc. o a d a co p, c Howard Bancorp, Inc. FNB Bancorp The Victory Bancorp, Inc. (The Victory Bank) Catskill Hudson Bancorp, Inc Midtown Bank & Trust Company HCSB Financial Corporation First Busey Corporation First Federal Bancshares of Arkansas, Inc. Citizens Bancshares Corporation ICB Financial First Texas BHC, Inc. Farmers & Merchants Bancshares, Inc. Blue Ridge Bancshares, Inc. First Reliance Bancshares, Inc. Merchants and Planters Bancshares, Inc. First Southwest Bancorporation, Inc. Germantown Capital Corporation, Inc. BOH Holdings, Inc. AmeriBank Holding Company Highlands Independent Bancshares, Inc. Pinnacle Bank Holding Company, Inc. Blue River Bancshares, Inc. Marine Bank & Trust Company Community Bancshares of Kansas, Inc. Regent Bancorp, Inc. Park Bancorporation, Inc. PeoplesSouth Bancshares, Inc. First Place Financial Corp. Salisbury Bancorp, Inc. First Northern Community Bancorp Discover Financial Services Provident Community Bancshares, Inc. First American International Corp. BancIndependent, Inc. Haviland Bancshares, Inc. 1st United Bancorp, Inc. Madison Financial Corporation City Greenville Evansville Columbia New Canaan Lafayette Buena Vista Bettendorf Mobeetie Brookfield West Sacramento Burley Pittsburgh Green City Gothenburg Clive Minneapolis Nowata Garland Salt Lake City Many Nashville Ellicott City cott C ty South San Francisco Limerick Rock Hill Atlanta Loris Urbana Harrison Atlanta Ontario Fort Worth Houston Independence Florence Toone Alamosa Germantown Houston Collinsville Sebring Orange City Shelbyville Vero Beach Goff Davie Madison Colquitt Warren Lakeville Dixon Riverwoods Rock Hill Brooklyn Sheffield Haviland Boca Raton Richmond State SC IN TN CT CA CO IA TX WI CA ID PA MO NE IA MN OK TX UT LA TN MD CA PA NY GA SC IL AR GA CA TX TX MO SC TN CO TN TX OK FL FL IN FL KS FL WI GA OH CT CA IL SC NY AL KS FL KY Investment Description Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock w/ Warrants Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Investment Amount 17,299,000 83,586,000 17,806,000 4,797,000 4,000,000 2,260,000 24,664,000 731,000 10,900,000 3,976,000 19,891,000 23,000,000 651,000 7,570,000 2,400,000 4,960,000 2,655,000 22,500,000 11,800,000 9,270,000 7,400,000 5,983,000 12,000,000 541,000 3,000,000 5,222,000 12,895,000 100,000,000 16,500,000 7,462,000 6,000,000 13,533,000 11,000,000 12,000,000 15,349,000 1,881,000 5,500,000 4,967,000 10,000,000 2,492,000 6,700,000 4,389,000 5,000,000 3,000,000 500,000 9,982,000 23,200,000 12,325,000 72,927,000 8,816,000 17,390,000 1,224,558,000 9,266,000 17,000,000 21,100,000 425,000 10,000,000 3,370,000 15 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2, 13 12/4/2009 2 2 4/14/2010 4 $ 731,000 $ 0 Preferred Stock 2 4/14/2010 Preferred Stock 2, 7 R $ 37,000 7/14/2010 4 $ 651,000 $ 0 Preferred Stock 2 7/14/2010 Preferred Stock 2, 7 R $ 33,000 3, 30 8/13/2010 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 8/13/2010 4 $ 7,462,000 $ 0 N/A N/A N/A - N/A 4/21/2010 8/13/2010 4 $ $ 1,224,558,000 17,000,000 $ $ 0 0 Warrants 7/7/2010 N/A Warrants R $ - 172,000,000 3, 30 8/13/2010 2 2 2 2 4 N/A N/A N/A 11/18/2009 4 $ 10,000,000 $ 0 Preferred Stock 2 11/18/2009 Preferred Stock 2, 7 R $ 500,000 Page 12 of 46 Seller Purchase Details Pricing Mechanism Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Capital Repayment Details Capital Repayment Capital Amount (Loss) 6 Repayment Date Treasury Investment Remaining After Capital Repayment Remaining Capital Amount Remaining Investment Description Final Disposition Date Final Disposition Disposition Investment Description Final Disposition Proceeds Footnote 2 2 2 2, 3a 11/13/2009 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2, 3, 30 8/13/2010 2 2 2 2 2 2 2 2 2, 3 2 2 2 2 2 2 2 2 2 2 2 2 Purchase Date 3/13/2009 3/13/2009 3/13/2009 3/13/2009 3/13/2009 3/13/2009 3/13/2009 3/13/2009 3/13/2009 3/20/2009 3/20/2009 3/20/2009 3/20/2009 3/20/2009 3/20/2009 3/20/2009 3/20/2009 3/20/2009 3/20/2009 3/27/2009 3/27/2009 3/27/2009 3/27/2009 3/27/2009 3/27/2009 3/27/2009 3/27/2009 3/27/2009 3/27/2009 3/27/2009 3/27/2009 3/27/2009 3/27/2009 4/3/2009 4/3/2009 4/3/2009 4/3/2009 4/3/2009 4/3/2009 4/3/2009 4/3/2009 4/3/2009 4/3/2009 4/10/2009 4/10/2009 4/10/2009 4/10/2009 4/10/2009 4/17/2009 4/17/2009 4/17/2009 4/17/2009 4/17/2009 4/17/2009 4/24/2009 4/24/2009 4/24/2009 4/24/2009 Name of Institution First National Corporation St. Johns Bancshares, Inc. Blackhawk Bancorp, Inc. IBW Financial Corporation Butler Point, Inc. Bank of George Moneytree Corporation Sovereign Bancshares, Inc. First Intercontinental Bank Heritage Oaks Bancorp Community First Bancshares Inc. First NBC Bank Holding Company First Colebrook Bancorp, Inc. Kirksville Bancorp, Inc. Peoples Bancshares of TN, Inc Premier Bank Holding Company Citizens Bank & Trust Company Farmers & Merchants Financial Corporation Farmers State Bankshares, Inc. SBT Bancorp, Inc. CSRA Bank Corp. Trinity Capital Corporation Clover Community Bankshares, Inc. Pathway Bancorp Colonial American Bank MS Financial, Inc. Triad Bancorp, Inc. Alpine Banks of Colorado Naples Bancorp, Inc. CBS Banc-Corp. IBT Bancorp, Inc. Spirit BankCorp, Inc. Maryland Financial Bank First Capital Bancorp, Inc. Tri-State Bank of Memphis Fortune Financial Corporation BancStar, Inc. Titonka Bancshares, Inc Millennium Bancorp, Inc. TriSummit Bank Prairie Star Bancshares, Inc. Community First Bancshares, Inc. BCB Holding Company, Inc. City National Bancshares Corporation First Business Bank, N.A. SV Financial, Inc. Capital Commerce Bancorp Inc Bancorp, Inc. Metropolitan Capital Bancorp, Inc. Bank of the Carolinas Corporation Penn Liberty Financial Corp. Tifton Banking Company Patterson Bancshares, Inc BNB Financial Services Corporation Omega Capital Corp. Mackinac Financial Corporation Birmingham Bloomfield Bancshares, Inc Vision Bank - Texas Oregon Bancorp, Inc. City Strasburg St. Louis Beloit Washington Catlin Las Vegas Lenoir City Dallas Doraville Paso Robles Union City New Orleans Colebrook Kirksville Madisonville Tallahassee Covington Argonia Holton Simsbury Wrens Los Alamos Clover Cairo West Conshohocken Kingwood Frontenac Glenwood Springs Naples Russellville Irving Bristow Towson Glen Ellen Memphis Arnold Festus Titonka Edwards Kingsport Olathe Harrison Theodore Newark San Diego Sterling Milwaukee Chicago Mocksville Wayne Tifton Patterson New York Lakewood Manistique Birmingham Richardson Salem State VA MO WI DC IL NV TN TX GA CA TN LA NH MO TN FL LA KS KS CT GA NM SC NE PA TX MO CO FL AL TX OK MD VA TN MO MO IA CO TN KS AR AL NJ CA IL WI IL NC PA GA LA NY CO MI MI TX OR Investment Description Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Investment Amount 13,900,000 3,000,000 10,000,000 6,000,000 607,000 2,672,000 9,516,000 18,215,000 6,398,000 21,000,000 20,000,000 17,836,000 4,500,000 470,000 3,900,000 9,500,000 2,400,000 442,000 700,000 4,000,000 2,400,000 35,539,000 3,000,000 3,727,000 574,000 7,723,000 3,700,000 70,000,000 4,000,000 24,300,000 2,295,000 30,000,000 1,700,000 10,958,000 2,795,000 3,100,000 8,600,000 2,117,000 7,260,000 2,765,000 2,800,000 12,725,000 1,706,000 9,439,000 2,211,000 4,000,000 5,100,000 5 100 000 2,040,000 13,179,000 9,960,000 3,800,000 3,690,000 7,500,000 2,816,000 11,000,000 1,635,000 1,500,000 3,216,000 15 8/13/2010 4 $ 2,795,000 $ 0 N/A N/A N/A - N/A Page 13 of 46 Seller Purchase Details Pricing Mechanism Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Capital Repayment Details Capital Repayment Capital Amount (Loss) 6 Repayment Date Treasury Investment Remaining After Capital Repayment Remaining Capital Amount Remaining Investment Description Final Disposition Date Final Disposition Disposition Investment Description Final Disposition Proceeds Footnote 2 2 2 2 2 2 2 8 Purchase Date 4/24/2009 4/24/2009 4/24/2009 4/24/2009 4/24/2009 4/24/2009 4/24/2009 4/24/2009 5/1/2009 5/1/2009 5/1/2009 5/1/2009 5/1/2009 5/1/2009 5/1/2009 5/8/2009 5/8/2009 5/8/2009 5/8/2009 5/8/2009 5/8/2009 5/8/2009 5/15/2009 5/15/2009 5/15/2009 5/15/2009 5/15/2009 5/15/2009 5/15/2009 5/15/2009 5/15/2009 5/15/2009 5/15/2009 5/15/2009 5/15/2009 5/15/2009 5/22/2009 5/22/2009 5/22/2009 5/22/2009 5/22/2009 5/22/2009 5/22/2009 5/22/2009 5/22/2009 5/22/2009 5/22/2009 Name of Institution Peoples Bancorporation, Inc. Indiana Bank Corp. Business Bancshares, Inc. Standard Bancshares, Inc. York Traditions Bank Grand Capital Corporation Allied First Bancorp, Inc. Frontier Bancshares, Inc. Village Bank and Trust Financial Corp CenterBank Georgia Primary Bank Union Bank & Trust Company HPK Financial Corporation OSB Financial Services, Inc. Security State Bank Holding-Company Highlands Bancorp, Inc. (Highlands State Bank) One Georgia Bank Gateway Bancshares, Inc. Freeport Bancshares Inc Bancshares, Inc. City Easley Dana Clayton Hickory Hills York Tulsa Oswego Austin Midlothian Milford Atlanta Oxford Chicago Orange Jamestown Vernon Atlanta Ringgold Freeport State SC IN MO IL PA OK IL TX VA OH GA NC IL TX ND NJ GA GA IL MO WI IL MI NJ OH IL AL KS TN IL IL WI WI AR WI IL MO MN NJ ND IL IN MO KY IA MO MO Investment Description Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Investment Amount 12,660,000 1,312,000 15,000,000 60,000,000 4,871,000 4,000,000 3,652,000 3,000,000 14,738,000 2,250,000 4,500,000 3,194,000 4,000,000 6,100,000 10,750,000 3,091,000 5,500,000 6,000,000 3,000,000 3 000 000 4,000,000 13,644,000 6,784,000 21,000,000 1,341,000 4,700,000 6,970,000 2,720,000 14,800,000 4,862,000 15,000,000 4,205,000 5,586,000 2,400,000 1,100,000 2,639,000 20,300,000 15,000,000 1,177,000 1,300,000 5,000,000 6,272,000 9,900,000 5,097,000 20,400,000 6,349,000 2,993,000 20,445,000 15 11/24/2009 4 $ 1,600,000 $ 1,400,000 Subordinated Debentures 8 2 2 2 2 8 8 2, 13 8/31/2010 2 2 8 8 8 3, 8, 30 8/13/2010 2 2 2 2 2 2 2 3, 8 8 8 8 8 8 2 2 2 2 2 2 2 8 8 8 8 Investors Financial Corporation of Pettis County, Inc. Sedalia Sword Financial Corporation Premier Bancorp, Inc. Mercantile Bank Corporation Northern State Bank Western Reserve Bancorp, Inc Community Financial Shares, Inc. Worthington Financial Holdings, Inc. First Community Bancshares, Inc Southern Heritage Bancshares, Inc. Foresight Financial Group, Inc. IBC Bancorp, Inc. Boscobel Bancorp, Inc Brogan Bankshares, Inc. Riverside Bancshares, Inc. Deerfield Financial Corporation Market Street Bancshares, Inc. The Landrum Company First Advantage Bancshares Inc. Fort Lee Federal Savings Bank Blackridge Financial, Inc. Illinois State Bancorp, Inc. Universal Bancorp Franklin Bancorp, Inc. Commonwealth Bancshares, Inc. Premier Financial Corp F & C Bancorp, Inc. Diamond Bancorp, Inc. Horicon Wilmette Grand Rapids Closter Medina Glen Ellyn Huntsville Overland Park Cleveland Rockford Chicago Boscobel Kaukauna Little Rock Deerfield Mt. Vernon Columbia Coon Rapids Fort Lee Fargo Chicago Bloomfield Washington Louisville Dubuque Holden Washington 8/13/2010 4 $ 6,784,000 $ 0 N/A N/A N/A - N/A Page 14 of 46 Seller Purchase Details Pricing Mechanism Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Capital Repayment Details Capital Repayment Capital Amount (Loss) 6 Repayment Date Treasury Investment Remaining After Capital Repayment Remaining Capital Amount Remaining Investment Description Final Disposition Date Final Disposition Disposition Investment Description Final Disposition Proceeds Footnote 8 Purchase Date 5/22/2009 5/29/2009 5/29/2009 5/29/2009 5/29/2009 5/29/2009 5/29/2009 5/29/2009 5/29/2009 6/5/2009 6/5/2009 6/5/2009 6/12/2009 6/12/2009 6/12/2009 6/12/2009 6/12/2009 6/12/2009 6/12/2009 6/19/2009 6/19/2009 6/19/2009 6/19/2009 6/19/2009 6/19/2009 6/19/2009 6/19/2009 6/19/2009 6/19/2009 6/26/2009 6/26/2009 6/26/2009 6/26/2009 6/26/2009 6/26/2009 6/26/2009 6/26/2009 6/26/2009 6/26/2009 6/26/2009 6/26/2009 6/26/2009 6/26/2009 6/26/2009 6/26/2009 7/10/2009 Name of Institution United Bank Corporation Community Bank Shares of Indiana, Inc. American Premier Bancorp CB Holding Corp. Citizens Bancshares Co. Grand Mountain Bancshares, Inc. Two Rivers Financial Group Fidelity Bancorp, Inc Chambers Bancshares, Inc. Covenant Financial Corporation First Trust Corporation OneFinancial Corporation Berkshire Bancorp, Inc. First Vernon Bancshares, Inc. SouthFirst Bancshares, Inc. Virginia Company Bank Enterprise Financial Services Group, Inc. First Financial Bancshares, Inc. River Valley Bancorporation, Inc. Merchants and Manufacturers Bank Corporation RCB Financial Corporation Manhattan Bancshares, Inc. Biscayne Bancshares, Inc. Duke Financial Group, Inc. Farmers Enterprises, Inc. Century Financial Services Corporation NEMO Bancshares Inc. University Financial Corp, Inc. Suburban Illinois Bancorp, Inc. Hartford Financial Services Group, Inc. Fidelity Resources Company Waukesha Bankshares, Inc. FC Holdings, Inc. Security Capital Corporation First Alliance Bancshares, Inc. Gulfstream Bancshares, Inc. Gold Canyon Bank M&F Bancorp, Inc. Bancorp Inc Metropolitan Bank Group, Inc. NC Bancorp, Inc. Alliance Bancshares, Inc. Stearns Financial Services, Inc. Signature Bancshares, Inc. Fremont Bancorporation Alliance Financial Services Inc. Lincoln National Corporation City Barnesville New Albany Arcadia Aledo Chillicothe Granby Burlington Baton Rouge Danville Clarksdale New Orleans Little Rock Wyomissing Vernon Sylacauga Newport News Allison Park Lawrence Wausau Joliet Rome Manhattan Coconut Grove Minneapolis Great Bend Santa Fe Madison St. Paul Elmhurst Hartford Plano Waukesha Houston Batesville Cordova Stuart Gold Canyon Durham Chicago Chicago Dalton St. Cloud Dallas Fremont Saint Paul Radnor State GA IN CA IL MO CO IA LA AR MS LA AR PA AL AL VA PA KS WI IL GA IL FL MN KS NM MO MN IL CT TX WI TX MS TN FL AZ NC IL IL GA MN TX CA MN PA Investment Description Subordinated Debentures w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures Subordinated Debentures w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Preferred Stock w/ Warrants $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Investment Amount 14,400,000 19,468,000 1,800,000 4,114,000 24,990,000 3,076,000 12,000,000 3,942,000 19,817,000 5,000,000 17,969,000 17,300,000 2,892,000 6,000,000 2,760,000 4,700,000 4,000,000 3,756,000 15,000,000 3,510,000 8,900,000 2,639,000 6,400,000 12,000,000 12,000,000 10,000,000 2,330,000 11,926,000 15,000,000 3,400,000,000 3,000,000 5,625,000 21,042,000 17,388,000 3,422,000 7,500,000 1,607,000 11 735 000 11,735,000 71,526,000 6,880,000 2,986,000 24,900,000 1,700,000 35,000,000 12,000,000 950,000,000 15 2 2 2 2 2 8 8 2 8 8, 10 2 2, 10 2 2, 10 2 8, 10 8 2 2, 10 8 8, 10 8 8 8 8 3, 8, 30 7/30/2010 8 7/30/2010 4 $ 11,926,000 $ 0 N/A N/A N/A - N/A 3/31/2010 4 $ 3,400,000,000.00 $ 0 Warrants 2 2, 10 2 2, 10 2 2 2, 10 2, 3, 10, 30 8/20/2010 2 2 2 8 8 8 8 8/20/2010 4 $ 11 735 000 00 $ 11,735,000.00 0 N/A N/A N/A - N/A 6/30/2010 4 $ 950,000,000.00 $ 0 Warrants Page 15 of 46 Seller Purchase Details Pricing Mechanism Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Capital Repayment Details Capital Repayment Capital Amount (Loss) 6 Repayment Date Treasury Investment Remaining After Capital Repayment Remaining Capital Amount Remaining Investment Description Final Disposition Date Final Disposition Disposition Investment Description Final Disposition Proceeds Footnote 2, 10 2 2 2, 3 8 8 8, 10 Purchase Date 7/10/2009 7/17/2009 7/17/2009 7/17/2009 7/17/2009 7/17/2009 7/17/2009 7/24/2009 7/24/2009 7/24/2009 7/24/2009 7/31/2009 7/31/2009 8/7/2009 8/7/2009 8/14/2009 8/21/2009 8/21/2009 8/28/2009 8/28/2009 8/28/2009 8/28/2009 9/4/2009 9/11/2009 Name of Institution Bancorp Financial, Inc. Brotherhood Bancshares, Inc. SouthCrest Financial Group, Inc. Harbor Bankshares Corporation First South Bancorp, Inc. Great River Holding Company Plato Holdings Inc. Yadkin Valley Financial Corporation Community Bancshares, Inc. Florida Bank Group, Inc. First American Bank Corporation Chicago Shore Corporation Financial Services of Winger, Inc. The ANB Corporation U.S. Century Bank Bank Financial Services, Inc. KS Bancorp, Inc. AmFirst Financial Services, Inc. First Independence Corporation First Guaranty Bancshares, Inc. CoastalSouth Bancshares, Inc. TCB Corporation The State Bank of Bartley Pathfinder Bancorp, Inc. Community Bancshares of Mississippi, Inc. Heartland Bancshares, Inc. PFSB Bancorporation, Inc. First Eagle Bancshares, Inc. IA Bancorp, Inc. HomeTown Bankshares Corporation Heritage Bankshares, Inc. Mountain Valley Bancshares, Inc. Grand Financial Corporation Guaranty Capital Corporation GulfSouth Private Bank Steele Street Bank Corporation Premier Financial Bancorp, Inc. Providence Bank Regents Bancshares, Inc. Cardinal Bancorp II, Inc. Randolph Bank & Trust Company WashingtonFirst Bankshares, Inc. F & M Bancshares, Inc. Fidelity Federal Bancorp Community Pride Bank Corporation HPK Financial Corporation Presidio Bank McLeod Bancshares, Inc. Metropolitan Capital Bancorp, Inc. City Oak Brook Kansas City Fayetteville Baltimore Lexington Baxter Saint Paul Elkin Kingman Tampa Elk Grove Village Chicago Winger Terrell Miami Eden Prarie Smithfield McCook Detroit Hammond Hilton Head Island Greenwood Bartley Oswego Brandon Franklin Pigeon Falls Hanover Park Iselin Roanoke Norfolk Cleveland Hattiesburg Belzoni Destin Denver Huntington Rocky Mount Vancouver Washington Asheboro Reston Trezevant Evansville Ham Lake Chicago San Francisco Shorewood Chicago State IL KS GA MD TN MN MN NC AZ FL IL IL MN TX FL MN NC NE MI LA SC SC NE NY MS IN WI IL NJ VA VA GA MS MS FL CO WV NC WA MO NC VA TN IN MN IL CA MN IL Investment Description Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Subordinated Debentures Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Preferred Stock w/ Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock Preferred Stock Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Investment Amount 13,669,000 11,000,000 12,900,000 6,800,000 50,000,000 8,400,000 2,500,000 13,312,000 3,872,000 20,471,000 50,000,000 7,000,000 3,742,000 20,000,000 50,236,000 1,004,000 4,000,000 5,000,000 3,223,000 20,699,000 16,015,000 9,720,000 1,697,000 6,771,000 52,000,000 7,000,000 1,500,000 7,500,000 5,976,000 10,000,000 10,103,000 3,300,000 2,443,320 14,000,000 7,500,000 11,019,000 22,252,000 4,000,000 12,700,000 6,251,000 6,229,000 6,842,000 3,535,000 6,657,000 4,400,000 5,000,000 10,800,000 6,000,000 2,348,000 15 2, 10 2 8 2 8, 10 2 2 2 2 8 2, 3 2 2, 10 8, 10 8, 10 2 2, 10 2, 10 8 2, 10 2, 10 2, 10 2 8 3, 8, 30 7/30/2010 10, 21 8, 10 9/11/2009 9/11/2009 9/11/2009 9/11/2009 9/18/2009 9/18/2009 9/25/2009 9/25/2009 9/25/2009 9/25/2009 9/25/2009 9/25/2009 10/2/2009 10/2/2009 10/23/2009 10/23/2009 10/30/2009 10/30/2009 11/6/2009 11/13/2009 11/13/2009 11/13/2009 11/20/2009 11/20/2009 11/20/2009 7/30/2010 4 $ 14,000,000 $ 0 N/A N/A N/A - N/A 2, 10 2, 10 8 2 2, 10a 2, 10a 2, 10 8, 10 2, 10a 2, 10 2 2, 10a Page 16 of 46 Seller Purchase Details Pricing Mechanism Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Capital Repayment Details Capital Repayment Capital Amount (Loss) 6 Repayment Date Treasury Investment Remaining After Capital Repayment Remaining Capital Amount Remaining Investment Description Final Disposition Date Final Disposition Disposition Investment Description Final Disposition Proceeds Footnote 3, 10a 2 2, 10 2 2, 10 8 2, 10a 2, 10a 2, 10a 2, 10a 2, 10a 2, 10a 2, 10a 2 2, 10 2 2, 10a 2, 10a 2, 10a 2, 10a 2, 10a 2, 10 2, 10a 2, 10a, 13 8/31/2010 2, 10a 2, 10a 2, 10a 2, 10 2, 10 2 8, 10 2, 10a 2, 10a 2, 10a 2, 10a 2, 10a 2, 10a Purchase Date 12/4/2009 12/4/2009 12/4/2009 12/11/2009 12/11/2009 12/11/2009 12/11/2009 12/11/2009 12/11/2009 12/11/2009 12/11/2009 12/11/2009 12/11/2009 12/18/2009 12/18/2009 12/18/2009 12/18/2009 12/18/2009 12/18/2009 12/18/2009 12/18/2009 12/22/2009 12/22/2009 12/22/2009 12/22/2009 12/22/2009 12/22/2009 12/29/2009 12/29/2009 12/29/2009 12/29/2009 12/29/2009 12/29/2009 12/29/2009 12/29/2009 12/29/2009 12/29/2009 Name of Institution Broadway Financial Corporation Delmar Bancorp Liberty Bancshares, Inc. First Community Financial Partners, Inc. Wachusett Financial Services, Inc. Nationwide Bankshares, Inc. GrandSouth Bancorporation 1st Enterprise Bank First Resource Bank First Western Financial, Inc. Meridian Bank The Victory Bancorp, Inc. First Business Bank, N.A. Layton Park Financial Group Centric Financial Corporation Valley Financial Group, Ltd., 1st State Bank Cache Valley Banking Company Birmingham Bloomfield Bancshares, Inc First Priority Financial Corp. Northern State Bank Union Bank & Trust Company First Freedom Bancshares, Inc. First Choice Bank Highlands Bancorp, Inc. (Highlands State Bank) Medallion Bank Catskill Hudson Bancorp, Inc TriSummit Bank Atlantic Bancshares, Inc. Union Financial Corporation Mainline Bancorp, Inc. FBHC Holding Company Western Illinois Bancshares Inc. DeSoto County Bank Lafayette Bancorp, Inc. Private Bancorporation, Inc. CBB Bancorp Illinois State Bancorp, Inc. City Los Angeles Delmar Fort Worth Joliet Clinton West Point Greenville Los Angeles Exton Denver Devon Limerick San Diego Milwaukee Harrisburg Saginaw Logan Birmingham Malvern Closter Oxford Lebanon Cerritos Vernon Salt Lake City Rock Hill Kingsport Bluffton Albuquerque Ebensburg Boulder Monmouth Horn Lake Oxford Minneapolis Cartersville Chicago State CA MD TX IL MA NE SC CA PA CO PA PA CA WI PA MI UT MI PA NJ NC TN CA NJ UT NY TN SC NM PA CO IL MS MS MN GA IL Investment Description Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Preferred Stock Preferred Stock Preferred Stock Preferred Stock Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock Preferred Stock Preferred Stock Preferred Stock Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Preferred Stock w/ Exercised Warrants Subordinated Debentures w/ Exercised Warrants Preferred Stock Preferred Stock Preferred Stock Preferred Stock Preferred Stock Preferred Stock w/ Exercised Warrants Total Purchase Amount * $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Investment Amount 6,000,000 9,000,000 6,500,000 22,000,000 12,000,000 2,000,000 6,319,000 6,000,000 2,417,000 11,881,000 6,335,000 1,505,000 2,032,000 3,000,000 6,056,000 1,300,000 4,640,000 1,744,000 4,596,000 1,230,000 2,997,000 8,700,000 2,836,000 2,359,000 9,698,000 3,500,000 4,237,000 2,000,000 2,179,000 4,500,000 3,035,000 4,567,000 1,508,000 2,453,000 3,262,000 1,753,000 4,000,000 204,940,341,320 15 Total Repaid Losses $ $ 147,527,551,535 (2,334,120,000) ** Total Warrant Proceeds $ 5,946,504,118 TOTAL TREASURY CAPITAL PURCHASE PROGRAM (CPP) OUTSTANDING INVESTMENT AMOUNT $ 55,078,669,785 * Total purchase amount includes the capitalization of accrued dividends referred to in Notes 20, 22 and 28. ** Total repaid includes (i) the amount of $8,479,158,535 applied as repayment under the Capital Purchase Program from the total proceeds of $10,505,219,983 received pursuant to the sales of Citigroup, Inc. common stock as of June 30, 2010 (see Note 23 and "Capital Purchase Program - Citigroup Common Stock Disposition" below) and (ii) the amounts repaid by institutions that have completed exchanges for investments under the Community Development Capital Initiative (see Note 30 and "Community Development Capital Initiative" below). Notes appear on the following page. f Page 17 of 46 1a/ This transaction was included in previous Transaction Reports with Merrill Lynch & Co., Inc. listed as the qualifying institution and a 10/28/2008 transaction date, footnoted to indicate that settlement was deferred pending merger. The purchase of Merrill Lynch by Bank of America was completed on 1/1/2009, and this transaction under the CPP was funded 1b/ The warrant disposition proceeds amount are stated pro rata in respect of the CPP investments in Bank of America Corporation that occurred on 10/28/2008 and 1/9/2009. The total gross disposition proceeds from CPP warrants on 3/3/2010 was $310,571,615, consisting of $186,342,969 and $124,228,646. Proceeds from the disposition of TIP warrants on 3/3/2010 appear on a following page of this report. 2/ Privately-held qualified financial institution; Treasury received a warrant to purchase additional shares of preferred stock (unless the institution is a CDFI), which it exercised immediately. 3/ To promote community development financial institutions (CDFIs), Treasury does not require warrants as part of its investment in certified CDFIs when the size of the investment is $50 million or less. 3a/ Treasury cancelled the warrants received from this institution due to its designation as a CDFI. 4/ Repayment pursuant to Title VII, Section 7001(g) of the American Recovery and Reinvestment Act of 2009. 5/ Redemption pursuant to a qualified equity offering. 6/ This amount does not include accrued and unpaid dividends, which must be paid at the time of capital repayment. 7/ The proceeds associated with the disposition of this investment do not include accrued and unpaid dividends. 8/ Subchapter S corporation; Treasury received a warrant to purchase additional subordinated debentures (unless the institution is a CDFI), which it exercised immediately. 9/ In its qualified equity offering, this institution raised more capital than Treasury's original investment, therefore, the number of Treasury's shares underlying the warrant was reduced by half. 10/ This institution participated in the expansion of CPP for small banks. 10a/ This institution received an additional investment through the expansion of CPP for small banks. 11/ Treasury made three separate investments in Citigroup Inc. (Citigroup) under the CPP, Targeted Investment Program (TIP), and Asset Guarantee Program (AGP) for a total of $49 billion. On 6/9/2009, Treasury entered into an agreement with Citigroup to exchange up to $25 billion of Treasury's investment in Fixed Rate Cumulative Perpetual Preferred Stock, Series H (CPP Shares) "dollar for dollar" in Citigroup's Private and Public Exchange Offerings. On 7/23/2009 and 7/30/2009, Treasury exchanged a total of $25 billion of the CPP shares for Series M Common Stock Equivalent ("Series M") and a warrant to purchase shares of Series M. On 9/11/2009, Series M automatically converted to 7,692,307,692 shares of common stock and the associated warrant terminated on receipt of certain shareholder approvals. 12/ On 8/24/2009, Treasury exchanged its Series C Preferred Stock issued by Popular, Inc. for a like amount of non tax-deductible Trust Preferred Securities issued by Popular Capital Trust III, administrative trustee for Popular, Inc. Popular, Inc. paid a $13 million exchange fee in connection with this transaction. 13/ This institution converted to a bank holding company structure and Treasury exchanged its securities for a like amount of securities that comply with the CPP terms applicable to bank holding companies. The institution in which Treasury's original investment was made is shown in parentheses. 14/ As of the date of this report, this institution is in bankruptcy proceedings. 15/ For final disposition of warrants, "R" represents proceeds from a repurchase of warrants by the financial institution, and "A" represents the proceeds to Treasury, before underwriting fees and selling expenses, from a sale by Treasury in a registered public offering of the warrants issued by the financial institution. 16/ On 12/10/2009, the bankruptcy reorganization plan of CIT Group Inc. became effective and Treasury's preferred stock and warrant investment were extinguished and replaced by Contingent Value Rights (CVRs). On 2/8/2010, the CVRs expired without value as the terms and conditions for distribution of common shares to holders of CVRs were not met. 17/ On 12/11/2009, Treasury exchanged its Series A Preferred Stock issued by Superior Bancorp, Inc. for a like amount of non tax-deductible Trust Preferred Securities issued by Superior Capital Trust II, administrative trustee for Superior Bancorp. 18/ On 2/1/2010, following the acquisition of First Market Bank (First Market) by Union Bankshares Corporation (the acquiror), the preferred stock and exercised warrants issued by First Market on 2/6/2009 were exchanged for a like amount of securities of the acquiror in a single series but with a blended dividend rate equivalent to those of Treasury's original 19/ On 2/11/2010, Pacific Coast National Bancorp dismissed its bankruptcy proceedings with no recovery to any creditors or investors, including Treasury, and the investment was extinguished. 20/ On 3/8/2010, Treasury exchanged its $84,784,000 of Preferred Stock in Midwest Banc Holdings, Inc. (MBHI) for $89,388,000 of Mandatory Convertible Preferred Stock (MCP), which is equivalent to the initial investment amount of $84,784,000, plus $4,604,000 of capitalized previously accrued and unpaid dividends. Subject to the fulfillment by MBHI of the conditions related to its capital plan, the MCP may be converted to common stock. 21/ On 3/30/2010, Treasury exchanged its $7,500,000 of Subordinated Debentures in GulfSouth Private Bank for an equivalent amount of Preferred Stock, in connection with its conversion from a Subchapter S-Corporation, that comply with the CPP terms applicable to privately held qualified financial institutions. 22/ On 4/16/2010, Treasury exchanged its $72,000,000 of Preferred Stock in Independent Bank Corporation (Independent) for $74,426,000 of Mandatory Convertible Preferred Stock (MCP), which is equivalent to the initial investment amount of $72,000,000, plus $2,426,000 of capitalized previously accrued and unpaid dividends. Subject to the fulfillment by Independent of the conditions related to its capital plan, the MCP may be converted to common stock. 23/ Treasury received Citigroup common stock pursuant to the June 2009 Exchange Agreement between Treasury and Citigroup which provided for the exchange into common shares of the preferred stock that Treasury purchased in connection with Citigroup's participation in the Capital Purchase Program (see note 11). On April 26, 2010, Treasury gave Morgan Stanley & Co. Incorporated (Morgan Stanley) discretionary authority as its sales agent to sell subject to certain parameters up t 1 500 000 000 shares of th common stock f to 1,500,000,000 h time t ti to time d i th period ending on June 30, 2010 (or on completion of th sale). C during the May 26, 2010. On May M St l C I t d (M St l ) di ti th it it l tt ll bj t t t i t f the t k from ti i d di J 30 ( l ti f the l ) Completion of th sale under thi authority occurred on M 26 2010 O M 26 l ti f the l d this th it d 2010, Treasury again gave Morgan Stanley discretionary authority as its sales agent to sell subject to certain parameters up to 1,500,000,000 shares of the common stock from time to time during the period ending on June 30, 2010 (or on completion of the sale). Completion of the sale under this authority occurred on June 30, 2010. All such sales were generally made at the market price. See "Capital Purchase Program - Citigroup, Inc., Common Stock Disposition" on following page for the actual number of shares sold by Morgan Stanley, the weighted average price per share and the total proceeds to Treasury from all such sales during those periods. On July 23, 2010, Treasury again gave Morgan Stanley discretionary authority as its sales agent to sell subject to certain parameters up to 1,500,000,000 shares of the common stock from time to time during the period ending on September 30, 2010 (or on completion of the sale). 24/ On 8/26/2010, Treasury completed the exchange of its $303,000,000 of Preferred Stock in Sterling Financial Corporation (Sterling) for a like amount of Mandatorily Convertible Preferred Stock (MCP), pursuant to the terms of the exchange agreement between Treasury and Sterling entered into on 4/29/2010. Since Sterling also fulfilled the conversion conditions set forth in the Certificate of Designations for the MCP, including those related to its capital plan, Treasury's $303,000,000 of MCP was subsequently converted into 378,750,000 shares of common stock. 25/ As of the date of this report, the banking subsidiary of this institution has been placed in receivership and the subsidiary's assets and liabilities were ordered to be sold to another bank. 26/ On 5/18/2010, Treasury entered into an agreement with The Toronto-Dominion Bank for the sale of all Preferred Stock and Warrants issued by South Financial Group, Inc. to Treasury at an aggregate purchase price of $130,179,218.75 for the Preferred Stock and $400,000.00 for the Warrants. Completion of the sale is subject to the fulfillment of certain closing conditions. 27/ On 6/30/2010, Treasury exchanged $46,400,000 of its Series A Preferred Stock in First Merchants Corporation for a like amount of non tax-deductible Trust Preferred Securities issued by First Merchants Capital Trust III. 28/ On 7/20/2010, Treasury completed the exchange of its $400,000,000 of Preferred Stock in First BanCorp for $424,174,000 of Mandatorily Convertible Preferred Stock (MCP), which is equivalent to the initial investment amount of $400,000,000, plus $24,174,000 of capitalized previously accrued and unpaid dividends. Subject to the fulfillment by First BanCorp of certain conditions, including those related to its capital plan, the MCP may be converted to common stock. 29/ On 8/31/2010, following the completion of the conditions related to Pacific Capital Bancorp's (Pacific Capital) capital plan, Treasury exchanged its $180,634,000 of Preferred Stock in Pacific Capital for $195,045,000 of Mandatorily Convertible Preferred Stock (MCP), which is equivalent to the initial investment amount of $180,634,000, plus $14,411,000 of capitalized previously accrued and unpaid dividends. Subject to the fulfillment by Pacific Capital of certain conditions, including regulatory approval and the completion of an increase in authorized shares available for conversion, the MCP may be subject to early conversion into common stock at the option of Pacific Capital on or before 4/26/2011, and otherwise in accordance with the terms of the MCP. 30/ This institution qualified to participate in the Community Development Capital Initiative (CDCI), and has completed an exchange of its Capital Purchase Program investment for an investment under the terms of the CDCI program. See "Community Development Capital Initiative" below. 31/ On 8/12/2010, Treasury entered into an agreement with Hampton Roads Bankshares, Inc. (Hampton) to exchange Treasury's $80,347,000 of Preferred Stock for an equivalent amount of Mandatorily Convertible Preferred Stock (MCP). The closing of the exchange for MCP is subject to certain conditions, including the receipt of stockholder approvals. Subject to the fulfillment by Hampton of certain conditions, including receipt of regulatory approvals and satisfactory completion of its capital plan, the MCP may be converted to common stock. Page 18 of 46 CAPITAL PURCHASE PROGRAM - CITIGROUP, INC. COMMON STOCK DISPOSITION Date 4/26/2010 5/26/2010 5/26/2010 6/30/2010 7/23/2010 9/30/2010 Pricing Mechanism 1 2 3 4 Number of Shares 1,500,000,000 $ 1,108,971,857 $ Proceeds 5 $4.1217 $3.8980 6,182,493,158 4,322,726,825 Total Proceeds: $10,505,219,983 1/ On April 26, 2010, Treasury gave Morgan Stanley & Co. Incorporated (Morgan Stanley) discretionary authority, as its sales agent, to sell subject to certain parameters up to 1,500,000,000 shares of common stock from time to time during the period ending on June 30, 2010 (or upon completion of the sale). Completion of the sale under this authority occurred on May 26, 2010. 2/ On May 26, 2010, Treasury gave Morgan Stanley & Co. Incorporated (Morgan Stanley) discretionary authority, as its sales agent, to sell subject to certain parameters up to 1,500,000,000 shares of common stock from time to time during the period ending on June 30, 2010 (or upon completion of the sale). Completion of the sale under this authority occurred on June 30, 2010. 3/ On July 23, 2010, Treasury gave Morgan Stanley & Co. Incorporated (Morgan Stanley) discretionary authority, as its sales agent, to sell subject to certain parameters up to 1,500,000,000 shares of common stock from time to time during the period ending on September 30, 2010 (or upon completion of the sale). 4/ The price set forth is the weighted average price for all sales of Citigroup, Inc. common stock made by Treasury over the course of the corresponding period. 5/ Amount represents the gross proceeds to Treasury. Page 19 of 46 COMMUNITY DEVELOPMENT CAPITAL INITIATIVE Seller Purchase Details Pricing Mechanism Par Par Par Par Par Par Par Par Par Par Par Disposition Details Remaining Investment Amount Footnote 1 1, 2 1, 2 1 1 1 1 1 1 1 1 Purchase Date 7/30/2010 7/30/2010 8/6/2010 8/13/2010 8/13/2010 8/13/2010 8/13/2010 8/13/2010 8/20/2010 8/20/2010 8/27/2010 Name of Institution Guaranty Capital Corporation University Financial Corp, Inc. Southern Bancorp, Inc. Premier Bancorp, Inc. Citizens Bancshares Corporation PGB Holdings, Inc. First American International Corp. Tri-State Bank of Memphis Mission Valley Bancorp M&F Bancorp, Inc. Carver Bancorp, Inc City Belzoni St. Paul Arkadelphia Wilmette Atlanta Chicago Brooklyn Memphis Sun Valley Durham New York State MS MN AR IL GA IL NY TN CA NC NY Investment Description Subordinated Debentures Subordinated Debentures Preferred Stock Subordinated Debentures Preferred Stock Preferred Stock Preferred Stock Preferred Stock Preferred Stock Preferred Stock Preferred Stock $ $ $ $ $ $ $ $ $ $ $ Amount from CPP 14,000,000 11,926,000 11,000,000 6,784,000 7,462,000 3,000,000 17,000,000 2,795,000 5,500,000 11,735,000 18,980,000 $ $ $ $ $ $ $ $ $ $ $ Additional Investment 10,189,000 22,800,000 $ $ $ $ $ $ $ $ $ $ $ Investment Amount 14,000,000 22,115,000 33,800,000 6,784,000 7,462,000 3,000,000 17,000,000 2,795,000 5,500,000 11,735,000 18,980,000 143,171,000 Date Amount Total Purchase Amount $ Total Capital Repayment Amount $ 143,171,000 TOTAL TREASURY COMMUNITY DEVELOPMENT INITIATIVE (CDCI) INVESTMENT AMOUNT 1/ This institution qualified to participate in the Community Development Capital Initiative (CDCI), and has exchanged its Capital Purchase Program investment for an equivalent amount of investment with Treasury under the CDCI program terms. 2/ Treasury made an additional investment in this institution at the time it entered the CDCI program. Page 20 of 46 AUTOMOTIVE INDUSTRY FINANCING PROGRAM Initial Investment Exchange/Transfer/Other Details Treasury Investment After Exchange/Transfer/Other Payment or Disposition1 Remaining Investment Description Remaining Investment Amount/Equity % City, State Date 12/29/2008 Transaction Type Purchase GMAC Seller Description Preferred Stock w/ Exercised $ Warrants Convertible Preferred Stock w/ Exercised Warrants $ Amount 5,000,000,000 Pricing Mechanism Par Date 12/30/2009 Type Exchange for convertible preferred stock Partial exchange for common stock Amount $ 5,000,000,000 Pricing Mechanism N/A Obligor GMAC GMAC 5/21/2009 GMAC Detroit, MI Purchase GMAC 7,500,000,000 Par 22 12/30/2009 $ 3,000,000,000 N/A GMAC GMAC Description Convertible 21, 22 Preferred Stock Convertible 21, 22 Preferred Stock Common Stock 3 Amount/Equity % $ $ 5,250,000,000 4,875,000,000 56.3% Date Type Amount/ Proceeds Common Stock 12/30/2009 12/30/2009 12/29/2008 12/31/2008 4/22/2009 5/20/2009 Purchase Purchase Purchase Purchase Purchase Purchase GMAC GMAC General Motors Corporation General Motors Corporation General Motors Corporation General Motors Corporation Trust Preferred Securities w/ Exercised Warrants Convertible Preferred Stock w/ Exercised Warrants Debt Obligation $ $ $ 2,540,000,000 1,250,000,000 884,024,131 Par Par Par Par Par Par 4 5 22 2 5/29/2009 7/10/2009 7/10/2009 7/10/2009 Exchange for equity interest in GMAC Exchange for preferred and common stock in New GM Exchange for preferred and common stock in New GM Exchange for preferred and common stock in New GM $ $ $ $ 884,024,131 13,400,000,000 2,000,000,000 4,000,000,000 N/A N/A N/A N/A 3 7 7 7 General Motors Company General Motors Company 10, 11 10, 11 Preferred Stock Common Stock $ 2,100,000,000 60.8% 7/10/2009 Partial repayment $ $ $ $ $ 360,624,198 Debt Obligation 1,000,000,000 Debt Obligation 35,084,421 Debt Obligation 1,000,000,000 Debt Obligation 4,676,779,986 4 676 779 986 None $ $ $ $ $ 6,711,864,407 5,711,864,407 5,676,779,986 4,676,779,986 0 Debt Obligation w/ Additional $ 13,400,000,000 Note Debt Obligation w/ Additional $ 2,000,000,000 Note Debt Obligation w/ Additional $ 4,000,000,000 Note General Motors 12/18/2009 Partial repayment Detroit, MI 5/27/2009 Purchase General Motors Corporation Debt Obligation w/ Additional $ Note 360,624,198 Par 6 7/10/2009 Exchange for preferred and common stock in New GM $ 360,624,198 N/A 7 General Motors Holdings LLC 11, 12 Debt Obligation $ 7,072,488,605 1/21/2010 3/31/2010 4/20/2010 6/3/2009 Purchase General Motors Corporation Debt Obligation w/ Additional $ 30,100,000,000 Note Par 8 7/10/2009 7/10/2009 7/10/2009 1/16/2009 Purchase Chrysler FinCo Debt Obligation w/ Additional $ Note 1,500,000,000 Par 13 Exchange for preferred and common stock in New GM Transfer of debt to New GM Debt left at Old GM $ $ $ 22,041,706,310 7,072,488,605 985,805,085 N/A N/A N/A 9 9 9 Motors Liquidation Company Debt Obligation $ 985,805,085 3/17/2009 4/17/2009 Partial repayment Partial repayment Partial repayment Partial repayment Repayment Repayment* Termination and settlement payment 20 Repayment Proceeds from sale of collateral Partial repayment Partial repayment Repayment $ $ $ $ $ $ $ Chrysler FinCo Farmington Hills, MI 5/18/2009 6/17/2009 7/14/2009 7/14/2009 1/2/2009 4/29/2009 4/29/2009 Purchase Purchase Purchase Purchase Purchase Purchase Chrysler Holding Chrysler Holding Chrysler Holding Old Chrysler Old Chrysler New Chrysler Debt Obligation w/ Additional Note Debt Obligation w/ Additional Note Debt Obligation w/ Additional Note Debt Obligation w/ Additional Note Debt Obligation w/ Additional Note Debt Obligation w/ Additional Note, Equity $ $ $ $ $ $ 4,000,000,000 280,130,642 1,888,153,580 6,642,000,000 N/A Par Par 14 15 16 17 18 6/10/2009 4/30/2010 Completion of bankruptcy proceeding; transfer of collateral security to liquidation trust Issuance of equity in New Chrysler $ (1,888,153,580) N/A 23 Old Carco Liquidation Trust 23 Right to recover proceeds N/A 7/10/2009 5/10/2010 6/10/2009 Transfer of debt to New Chrysler $ 500,000,000 N/A 19 Chrysler Holding 20 Debt obligation w/ additional note $ 3,500,000,000 5/14/2010 Debt Obligation w/ 3,499,055 Additional Note Debt Obligation w/ 31,810,122 Additional Note Debt Obligation w/ 51,136,084 Additional Note Debt Obligation w/ 44,357,710 Additional Note 1,369,197,029 15,000,000 1,900,000,000 Additional Note None None $ $ $ $ $ 1,496,500,945 1,464,690,823 1,413,554,739 1,369,197,029 0 - $ $ 280,130,642 30,544,528 None Right to recover proceeds $ N/A 0 Chrysler Auburn Hills, MI 5/1/2009 5/20/2009 5/27/2009 $ - N/A Chrysler Group LLC Chrysler Group LLC 19 Debt obligation w/ additional note Common equity $ 7,142,000,000 9.9% Total Initial Investment Amount $ 81,344,932,551 Total Payments Additional Note Proceeds * Total Treasury Investment Amount $ 67,073,615,196 $ $ 10,783,163,775 15,000,000 Footnotes appear on following page. Page 21 of 46 As used in this table and its footnotes: "GMAC" refers to GMAC Inc., formerly known as GMAC LLC. "Old GM" refers to General Motors Corporation, which is now known as Motors Liquidation Company. "New GM" refers to General Motors Company, the company that purchased Old GM's assets on 7/10/2009 in a sale pursuant to section 363 of the Bankruptcy Code. See also footnote 11. "Chrysler FinCo" refers to Chrysler Financial Services Americas LLC. "Chrysler Holding" refers to CGI Holding LLC, the company formerly known as "Chrysler Holding LLC". "Old Chrysler" refers to Old Carco LLC (fka Chrysler LLC). "New Chrysler" refers to Chrysler Group LLC, the company that purchased Old Chrysler's assets on 6/10/2009 in a sale pursuant to section 363 of the Bankruptcy Code. 1. Payment amount does not include accrued and unpaid interest on a debt obligation, which must be paid at the time of principal repayment. 2. Treasury committed to lend General Motors Corporation up to $1,000,000,000. The ultimate funding was dependent upon the level of investor participation in GMAC LLC's rights offering. The amount has been updated to reflect the final level of funding. 3. Pursuant to its rights under the loan agreement with Old GM reported on 12/29/2008, Treasury exchanged its $884 million loan to Old GM for a portion of Old GM's common equity interest in GMAC. Treasury held a 35.4% common equity interest in GMAC until the transactions reported on 12/30/2009. (See transactions marked by orange line in the table above and footnote 22.) 4. This transaction is an amendment to Treasury's 12/31/2008 agreement with Old GM (the "Old GM Loan"), which brought the total loan amount to $15,400,000,000. 5. This transaction was a further amendment to the Old GM Loan, which brought the total loan amount to $19,400,000,000. 6. This transaction was a further amendment to the Old GM Loan, which brought the total loan amount to $19,760,624,198. The $360,624,198 loan was used to capitalize GM Warranty LLC, a special purpose vehicle created by Old GM . On 7/10/2009, the principal amount was included in the $7.07 billion of debt assumed by the new GM, as explained in footnote 10. 7. On 7/10/2009, the principal amount outstanding under the Old GM Loan and interest accrued thereunder were extinguished and exchanged for privately placed preferred and common equity in New GM. (See green lines in the table above.) 8. Under the terms of the $33.3 billion debtor-in-possession credit agreement dated 6/3/2009 with Old GM (the "GM DIP Loan"), Treasury's commitment amount was $30.1 billion. The remaining $2.2 billion of the financing was provided by Canadian government entities. As of 7/09/2009, $30.1 billion of funds had been disbursed by Treasury. 9. On 7/10/2009, Treasury and Old GM amended the GM DIP Loan, and the principal amount and interest accrued thereunder were extinguished and exchanged for privately placed preferred and common equity in New GM, except for (i) $7.07 billion, which was assumed by New GM as a new obligation under the terms of a separate credit agreement between Treasury and New GM (see transactions marked by green lines in table above) and (ii) $986 million, which remained a debt obligation of Old GM. 10. In total, for the exchange of the Old GM Loan and the GM DIP Loan (other than as explained in footnote 9), Treasury received $2.1 billion in preferred shares and 60.8% of the common shares of New GM. (See transactions marked by green lines in the table above.) 11. Pursuant to a corporate reorganization completed on or about 10/19/2009, the shareholders of New GM, including with respect to Treasury's preferred and common stock, became shareholders of General Motors Holding Company (the ultimate parent company of New GM), which was renamed "General Motors Company" on an equal basis to their shareholdings in New GM, and New GM was converted to "General Motors LLC". General Motors LLC is a wholly owned subsidiary of General Motors Holdings LLC, and General Motors Holdings LLC is a wholly owned subsidiary of General Motors Company. 12. Pursuant to a corporate reorganization completed on 10/19/2009, Treasury's loan with New GM was assigned and assumed by General Motors Holdings LLC. 13. The loan was funded through Chrysler LB Receivables Trust, a special purpose vehicle created by Chrysler FinCo. The amount of $1,500,000,000 represents the maximum loan amount. The loan was incrementally funded until it reached the maximum amount of $1.5 billion on 4/9/2009. 14. This transaction was an amendment to Treasury's 1/2/2009 agreement with Chrysler Holding. As of 4/30/2009, Treasury's obligation to lend any funds committed under this amendment had terminated. No funds were disbursed. 15. The loan was used to capitalize Chrysler Warranty SPV LLC, a special purpose vehicle created by Old Chrysler. 16. This transaction was set forth in a credit agreement with Old Chrysler fully executed on 5/5/2009 following a term sheet executed on 5/1/2009 and made effective on 4/30/2009. Treasury's commitment was $3.04 billion of the total $4.1 billion debtor-in-possession credit facility (the "Chrysler DIP Loan"). As of 6/30/2009, Treasury's commitment to lend under the Chrysler DIP Loan had terminated. The remaining principal amount reflects the final amount of funds disbursed under the Chrysler DIP Loan. 17. This transaction was an amendment to Treasury's commitment under the Chrysler DIP Loan, which increased Treasury's commitment by an amount $756,857,000 to a total of $3.8 billion under the Chrysler DIP Loan. As of 6/30/2009, Treasury's obligation to lend funds committed under the Chrysler DIP Loan had terminated. 18. This transaction, first reported based on a term sheet fully executed on 5/27/2009 for an amount up to $6.943 billion, was set forth in a credit agreement with New Chrysler fully executed on 6/10/2009. Under the terms of the credit agreement, Treasury made a new commitment to New Chrysler of up to $6.642 billion. The total loan amount is up to $7.142 billion including $500 million of debt assumed on 6/10/2009 from Chrysler Holding originally incurred under Treasury's 1/2/2009 credit agreement with Chrysler Holding. The debt obligations are secured by a first priority lien on the assets of New Chrysler. When the sale to new Chrysler was completed, Treasury acquired the rights to 9.85% of the common equity in new Chrysler. 19. Pursuant to the agreement explained in footnote 18, $500 million of this debt obligation was assumed by New Chrysler. 20. Under loan agreement, as amended on 7/23/2009, Treasury was entitled to proceeds Chrysler Holdco received from Chrysler FinCo equal to the greater of $1.375 billion or 40% of the equity value of Chrysler FinCo. Pursuant to a termination agreement dated 5/14/2010, Treasury agreed to accept a settlement payment of $1.9 billion as satisfaction in full of all existing debt obligations (including additional notes and accrued and unpaid interest) of Chrysler Holdco, and upon receipt of such payment to terminate all such obligations Holdco obligations. 21. Amount of the Treasury investment after exchange includes the exercised warrants from Treasury's initial investment. 22. Under the terms of an agreement dated 12/30/2009, the convertible preferred shares will mandatorily convert to common stock under the conditions and the conversion price as set forth in the terms of the agreement. 23. On April 30, 2010, the Plan of Liquidation for the debtors of Old Chrysler approved by the respective bankruptcy court became effective (the "Liquidation Plan"). Under the Liquidation Plan, the loan Treasury had provided to Old Chrysler was extinguished without repayment, and all assets of Old Chrysler were transferred to a liquidation trust. Treasury retained the right to recover the proceeds from the liquidation from time to time of the specified collateral security attached to such loan. AUTOMOTIVE SUPPLIER SUPPORT PROGRAM Seller Investment Description Investment Amount Adjustment Date Adjustment Details Adjustment Amount Adjusted or Final Investment Amount Date Payment or Disposition4 Remaining Investment Type Description Partial repayment Partial repayment Repayment5 Payment6 Repayment5 Payment7 Debt Obligation w/ Additional Note Debt Obligation w/ Additional Note Additional Note None Additional Note None $ Amount Footnote Date Name of Institution City State Transaction Type Pricing Mechanism 11/20/2009 Debt Obligation w/ Additional Note 7/8/2009 $ 3,500,000,000 N/A 3 140,000,000 $ (1,000,000,000) $ 2,500,000,000 2/11/2010 3/4/2010 1 4/9/2009 GM Supplier Receivables LLC Wilmington DE Purchase $ $ $ $ $ $ 100,000,000 50,000,000 56,541,893 123,076,735 44,533,054 101,074,947 6 $ $ (500,000,000) $ $ 290,000,000 1,000,000,000 123,076,735 4/5/2010 3/9/2010 4/7/2010 2 4/9/2009 Chrysler Receivables SPV LLC Wilmington DE Purchase Debt Obligation w/ Additional Note 7/8/2009 $ 1,500,000,000 N/A 3 7 INITIAL TOTAL $ 5,000,000,000 ADJUSTED TOTAL $ 413,076,735 Total Repayments $ 413,076,735 Total Proceeds from Additional Notes 1/ The loan was funded through GM Supplier Receivables, LLC, a special purpose vehicle created by General Motors Corporation. The amount of $3,500,000,000 represents the maximum loan amount. The loan will be incrementally funded. The credit agreement was fully executed on 4/9/2009, but was made effective as of 4/3/2009. General Motors Company assumed GM Supplier 2/ The loan was funded through Chrysler Receivables SPV LLC, a special purpose vehicle created by Chrysler LLC. The amount of $1,500,000,000 represents the maximum loan amount. The loan will be incrementally funded. The credit agreement was fully executed on 4/9/2009, but was made effective as of 4/7/2009. Chrysler Group LLC assumed Chrysler Receivables SPV LLC on 3/ Treasury issued notice to the institution of the permanent reduced commitment on 7/8/2009; the reduction was effective on 7/1/2009. 4/ Does not include accrued and unpaid interest due on the amount of principal repayment, which interest must be paid at the time of principal repayment. 5/ All outstanding principal drawn under the credit agreement was repaid. 6/ Treasury's commitment was $2.5 billion (see note 3). As of 4/5/2010, Treasury's commitment to lend under the credit agreement had terminated and the borrower has paid its obligations with respect to the Additional Note. The final investment amount reflects the total funds disbursed under the loan, all of which have been repaid. 7/ Treasury's commitment was $1 billion (see note 3) As of 4/7/2010 Treasury's commitment to lend under the credit agreement had terminated and the borrower has paid its obligations with respect to the Additional Note The final investment amount reflects the total funds disbursed under the loan, all of which have been repaid Treasury s 3). 4/7/2010, Treasury s Note. loan repaid. Page 22 of 46 TARGETED INVESTMENT PROGRAM Treasury Investment Remaining After Capital Repayment Remaining Capital Amount $ $ 0 0 Remaining Capital Description Warrants Warrants 3/3/2010 A Warrants $ $ 1,255,639,099 1,255,639,099 Seller Transaction Type Purchase Purchase Pricing Mechanism Par Par Capital Repayment Details Capital Repayment Date 12/23/2009 12/9/2009 AMOUNT 2 2 Footnote 1 Date Name of Institution City New York Charlotte State NY NC 12/31/2008 Citigroup Inc. Bank of America 1/16/2009 Corporation Investment Description Investment Amount Trust Preferred Securities w/ Warrants $ 20,000,000,000 Preferred Stock w/ Warrants $ 20,000,000,000 TOTAL $ 40,000,000,000 Capital Repayment Amount $ $ $ $ 20,000,000,000 20,000,000,000 40,000,000,000 0 Final Disposition Final Disposition Final Disposition Date 3 Description Final Disposition Proceeds Total Warrant Proceeds TOTAL TREASURY TIP INVESTMENT AMOUNT 1/ Treasury made three separate investments in Citigroup Inc. ("Citigroup") under CPP, TIP, and AGP for a total of $49 billion. On 6/9/2009, Treasury entered into an agreement with Citigroup to exchange all of Treasury's investments. On 7/30/2009, Treasury exchanged all of its Fixed Rate Cumulative Perpetual Prefer Stock, Series I (TIP Shares) "dollar for dollar" for Trust Preferred Securities. 2/ Repayment pursuant to Title VII, Section 7001 of the American Recovery and Reinvestment Act of 2009. 3/ For final disposition of warrants, "R" represents proceeds from a repurchase of warrants by the financial institution, and "A" represents the proceeds to Treasury, before underwriting fees and selling expenses, from a sale by Treasury in a registered public offering of the warrants issued by the financial institution. ASSET GUARANTEE PROGRAM Initial Investment Footnote 1 3 Date Seller Name of Institution City New York New York State NY NY Type Guarantee Termination Description Master Agreement Termination Agreement TOTAL $ $ $ Guarantee Limit 5,000,000,000 (5,000,000,000) 0 Description Preferred Stock w/ Warrants $ Premium Amount 4,034,000,000 Footnote 2 Date 6/9/2009 Exchange/Transfer/Other Details Type Description $ Amount 4,034,000,000 Footnote 3 Date Payment or Disposition Type Amount Remaining Premium Description Remaining Premium $2,234,000,000 1/16/2009 Citigroup Inc. 12/23/2009 Citigroup Inc. Exchange preferred stock Trust Preferred for trust preferred securities Securities w/ Warrants Partial cancellation for early 12/23/2009 termination of guarantee Trust Preferred $ (1,800,000,000) Securities w/ Warrants 1/ In consideration for the guarantee, Treasury received $4.03 billion of preferred stock, which pays 8% interest. 2/ Treasury made three separate investments in Citigroup Inc. ("Citigroup") under CPP, TIP, and AGP for a total of $49 billion. On 6/9/2009, Treasury entered into an agreement with Citigroup to exchange all of Treasury's investments. On 7/30/2009, Treasury exchanged all of its Fixed Rate Cumulative Perpetual Preferred Stock Series G (AGP Shares), received as premium with the AGP agreement, "dollar for dollar" for Trust Preferred Securities. 3/ On 12/23/2009, Treasury entered into a Termination Agreement with the other parties to the Master Agreement which served to terminate Treasury's guarantee and obligations under the Master Agreement. In connection with the early termination of the guarantee, Treasury agreed to cancel $1.8 billion of the AGP Trust Preferred Securities, and the Federal Deposit Insurance Corporation (FDIC) and Treasury agreed that, subject to the conditions set out in the Termination Agreement, the FDIC may transfer $800 million of Trust Preferred Securities to Treasury at the close of Citigroup's participation in the FDIC's Temporary Liquidity Guarantee Program. Page 23 of 46 CONSUMER AND BUSINESS LENDING INITIATIVE INVESTMENT PROGRAM Seller Footnote Date Name of Institution City State Transaction Type Adjusted Investment Amount Date 2 Investment Description Investment Amount Pricing Mechanism 1 3/3/2009 TALF LLC Wilmington DE Purchase Debt Obligation w/ Additional Note TOTAL $ $ 20,000,000,000 4,300,000,000 N/A 7/19/2010 $ 4,300,000,000 1/ The loan was funded through TALF LLC, a special purpose vehicle created by The Federal Reserve Bank of New York ("FRBNY"). The amount of $20,000,000,000 represents the maximum loan amount. The loan will be incrementally funded. 2/ On 7/19/2010, Treasury, the FRBNY and TALF LLC entered into an amendment of the credit agreement previously entered into on 3/3/2009, which amendment reduced Treasury's maximum loan amount to $4,300,000,000. AMERICAN INTERNATIONAL GROUP, INC. (AIG) INVESTMENT PROGRAM (formerly referred to as Systemically Significant Failing Institutions) Seller Footnote 3 Date 11/25/2008 4/17/2009 AIG AIG Name of Institution City New York New York State NY NY Transaction Type Purchase Purchase Investment Description Preferred Stock w/ Warrants Preferred Stock w/ Warrants TOTAL $ $ $ Purchase Details Investment Amount 40,000,000,000 29,835,000,000 69,835,000,000 Pricing Mechanism Par Par 2 Exchange Details Date 4/17/2009 Transaction Type Exchange Investment Description Preferred Stock w/ Warrants 1 Investment Amount $ 40,000,000,000 Pricing Mechanism Par 1/ On 4/17/2009, Treasury exchanged its Series D Fixed Rate Cumulative Preferred Shares for Series E Fixed Rate Non-Cumulative Preferred Shares with no change to Treasury's initial investment amount. In addition, in order for AIG to fully redeem the Series E Preferred Shares, it has an additional obligation to Treasury of $1,604,576,000 to reflect the cumulative unpaid dividends for the Series D Preferred Shares due to Treasury through and including the exchange date. 2/ The investment price reflects Treasury's commitment to invest up to $30 billion less a reduction of $165 million representing retention payments AIG Financial Products made to its employees in March 2009. 3/ This transaction does not include AIG's commitment fee of an additional $165 million scheduled to be paid from its operating income in three equal installments over the five-year life of the facility. Page 24 of 46 LEGACY SECURITIES PUBLIC-PRIVATE INVESTMENT PROGRAM (S-PPIP) (Revised as of July 16, 2010) 3 7 Seller Transaction Type State DE Purchase Pricing Investment Amount Mechanism $ 1,111,111,111 Par Adjusted Investment Final Investment Amount Capital Repayment Details Repayment Date 1/15/2010 $ Repayment Amount 156,250,000 $ Investment After Capital Repayment Distribution or Disposition Footnote 1 Date Name of Institution City Wilmington Investment Description Membership Interest Date 1/4/2010 4 $ 4 Amount 156,250,000 Date 4 $ 4 Amount 156,250,000 Amount 0 Description 5 Date 1/29/2010 2/24/2010 Description Distribution 5 5 Proceeds $ $ 20,091,872 48,922 9/30/2009 UST/TCW Senior Mortgage Securities Fund, L.P. Membership Interest Final Distribution N/A 1/11/2010 2 9/30/2009 UST/TCW Senior Mortgage Securities Fund, L.P. Wilmington DE Purchase Debt Obligation w/ Contingent Proceeds $ 2,222,222,222 Par 1/4/2010 $ 200,000,000 $ 200,000,000 1/12/2010 6 1 2 9/30/2009 Invesco Legacy Securities Master Fund, L.P. 9/30/2009 Invesco Legacy Securities Master Fund, L.P. Wilmington Wilmington DE DE Purchase Purchase Membership Interest Debt Obligation w/ Contingent Proceeds $ $ 1,111,111,111 2,222,222,222 Par Par 3/22/2010 6 3/22/2010 6 1 2 1 2 1 2 1 2 1 2 1 2 1 2 10/1/2009 Wellington Management Legacy Securities PPIF Master Fund, LP 10/1/2009 Wellington Management Legacy Securities PPIF Master Fund, LP 10/2/2009 AllianceBernstein Legacy Securities Master Fund, L.P. 10/2/2009 AllianceBernstein Legacy Securities Master Fund, L.P. 10/2/2009 Blackrock PPIF, L.P. 10/2/2009 Blackrock PPIF, L.P. 10/30/2009 AG GECC PPIF Master Fund, L.P. 10/30/2009 AG GECC PPIF Master Fund, L.P. 11/4/2009 RLJ Western Asset Public/Private Master Fund, L.P. 11/4/2009 RLJ Western Asset Public/Private Master Fund, L.P. 11/25/2009 Marathon Legacy Securities Public-Private Investment Partnership, L.P. 11/25/2009 Marathon Legacy Securities Public-Private Investment Partnership, L.P. 12/18/2009 Oaktree PPIP Fund, L.P. 12/18/2009 Oaktree PPIP Fund, L.P. Wilmington Wilmington Wilmington Wilmington Wilmington Wilmington Wilmington Wilmington Wilmington Wilmington Wilmington Wilmington Wilmington Wilmington DE DE DE DE DE DE DE DE DE DE DE DE DE DE Purchase Purchase Purchase Purchase Purchase Purchase Purchase Purchase Purchase Purchase Purchase Purchase Purchase Purchase Membership Interest Debt Obligation w/ Contingent Proceeds Membership Interest Debt Obligation w/ Contingent Proceeds Membership Interest Debt Obligation w/ Contingent Proceeds Membership Interest Debt Obligation w/ Contingent Proceeds Membership Interest Debt Obligation w/ Contingent Proceeds Membership Interest Debt Obligation w/ Contingent Proceeds Membership Interest Debt Obligation w/ Contingent Proceeds INITIAL INVESTMENT AMOUNT $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1,111,111,111 2,222,222,222 1,111,111,111 2,222,222,222 1,111,111,111 2,222,222,222 1,111,111,111 2,222,222,222 1,111,111,111 2,222,222,222 1,111,111,111 2,222,222,222 1,111,111,111 2,222,222,222 30,000,000,000 Par Par Par Par Par Par Par Par Par Par Par Par Par Par 3/22/2010 6 3/22/2010 6 3/22/2010 6 3/22/2010 6 3/22/2010 6 3/22/2010 6 3/22/2010 6 3/22/2010 6 3/22/2010 6 3/22/2010 6 3/22/2010 6 3/22/2010 6 3/22/2010 6 3/22/2010 $ 2,488,875,000 7/16/2010 $ 2,321,568,200 $ 1,244,437,500 7/16/2010 $ 1,160,784,100 $ 2,488,875,000 7/16/2010 $ 949,100,000 $ 1,244,437,500 7/16/2010 $ 474,550,000 $ 2,488,875,000 7/16/2010 $ 1,241,156,516 $ 1,244,437,500 7/16/2010 $ 620,578,258 $ 2,542,675,000 7/16/2010 $ 2,486,550,000 $ 1,271,337,500 7/16/2010 $ 1,243,275,000 $ 2,488,875,000 7/16/2010 $ 1,389,960,000 $ 1,244,437,500 7/16/2010 $ 694,980,000 $ 2,488,875,000 7/16/2010 $ 2,300,847,000 $ 1,244,437,500 7/16/2010 $ 1,150,423,500 $ 2,524,075,000 7/16/2010 $ 2,298,974,000 $ 1,262,037,500 7/16/2010 $ 1,149,487,000 $ 2,488,875,000 7/16/2010 $ 1,712,000,000 2/18/2010 4/15/2010 $ 1,244,437,500 7/16/2010 $ 856,000,000 $ $ 34,000,000 166,000,000 $ $ Debt Obligation w/ 166,000,000 Contingent Proceeds 1/29/2010 0 Contingent Proceeds 2/24/2010 Distribution 5 $ 5 $ 502,302 1,223 Final Distribution $ $ 4,888,718 7,066,434 $ $ Debt Obligation w/ 2,483,986,282 Contingent Proceeds Debt Obligation w/ 2,476,919,848 Contingent Proceeds FINAL INVESTMENT AMOUNT $ 22,406,483,574 TOTAL CAPITAL REPAYMENT AMOUNT $ 368,205,152 TOTAL PROCEEDS $ 20,644,319 1/ The equity amount may be incrementally funded. Investment amount represents Treasury's maximum obligation if the limited partners other than Treasury fund their maximum equity capital obligations. 2/ The loan may be incrementally funded. Investment amount represents Treasury's maximum obligation if Treasury and the limited partners other than Treasury fund 100% of their maximum equity obligations. 3/ Adjusted to show Treasury's maximum obligations to a fund. 4/ On 1/4/2010, Treasury and the fund manager entered into a Winding-Up and Liquidation Agreement. 5/ Profit after capital repayments will be paid pro rata (subject to prior distribution of Contingent Proceeds to Treasury) to the fund's partners, including Treasury, in respect of their membership interests. 6/ Following termination of the TCW fund, the $3.33 billion of obligations have been reallocated to the remaining eight funds pursuant to consent letters from Treasury dated as of 3/22/2010. $133 million of maximum equity capital obligation and $267 million of maximum debt obligation were reallocated per fund, after adjustment for the $17.6 million and $26.9 million equity capital reallocations from private investors in the TCW fund to the Wellington fund and the AG GECC fund, respectively. The $356 million of final investment in the TCW fund will remain a part of Treasury's total maximum S-PPIP investment amount. 7/ Amount adjusted to show Treasury's final capital commitment (membership interest) and the maximum amount of Treasury's debt obligation that may be drawn down in accordance with the Loan Agreement. Page 25 of 46 HOME AFFORDABLE MODIFICATION PROGRAM Servicer Modifying Borrowers' Loans Cap of Incentive Payments on Behalf of Borrowers Adjustment and to Servicers & Pricing Date Cap Adjustment Amount Lenders/Investors (Cap) 1 Mechanism Note $ 376,000,000 N/A 6/12/2009 9/30/2009 12/30/2009 3/26/2010 7/14/2010 4/13/2009 CitiMortgage, Inc. O'Fallon MO Purchase Financial Instrument for Home Loan Modifications $ 2,071,000,000 N/A 6/12/2009 9/30/2009 12/30/2009 3/26/2010 4/19/2010 5/14/2010 6/16/2010 7/14/2010 7/16/2010 8/13/2010 4/13/2009 Wells Fargo Bank, NA Des Moines IA Purchase Financial Instrument for Home Loan Modifications $ 2,873,000,000 N/A 6/17/2009 9/30/2009 12/30/2009 2/17/2010 3/12/2010 3/19/2010 3/26/2010 7/14/2010 4/13/2009 GMAC Mortgage, Inc. Ft. Washington PA Purchase Financial Instrument for Home Loan Modifications $ 633,000,000 N/A 6/12/2009 9/30/2009 12/30/2009 3/26/2010 5/14/2010 7/14/2010 8/13/2010 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 284,590,000 121,910,000 131,340,000 $ $ $ Adjustment Details Date 4/13/2009 Name of Institution Select Portfolio Servicing City Salt Lake City State UT Transaction Type Purchase Investment Description Financial Instrument for Home Loan Modifications Adjusted Cap Reason for Adjustment 660,590,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 782,500,000 initial cap Updated portfolio data from servicer & HAFA 913,840,000 initial cap 558,310,000 Updated portfolio data from servicer 687,000,000 Updated portfolio data from servicer 1,079,420,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 2,089,600,000 initial cap Updated portfolio data from servicer & HAFA 1,984,190,000 initial cap Updated portfolio data from servicer & 2MP 1,784,890,000 initial cap Transfer of cap to Service One, Inc. due to 1,784,660,000 servicing transfer Transfer of cap to Specialized Loan 1,781,660,000 Servicing, LLC due to servicing transfer Transfer of cap to multiple servicers due to 1 769 380 000 servicing t 1,769,380,000 i i transfer f 1,011,700,000 Updated portfolio data from servicer Transfer of cap to multiple servicers due to 1,004,590,000 servicing transfer Transfer of cap to multiple servicers due to 998,290,000 servicing transfer 2,410,010,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 2,475,080,000 initial cap Updated portfolio data from servicer & HAFA 3,688,390,000 initial cap Transfer of cap (from Wachovia) due to 5,738,626,344 merger Transfer of cap (from Wachovia) due to 5,738,681,110 merger 6,406,790,000 Initial 2MP cap 7,089,920,000 Updated portfolio data from servicer 5,051,700,000 Updated portfolio data from servicer 1,017,650,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 3,554,890,000 initial cap Updated portfolio data from servicer & HAFA 1,875,370,000 initial cap 2,065,550,000 Updated portfolio data from servicer Transfer of cap from Wilshire Credit 2,067,430,000 Corporation due to servicing transfer 1,185,900,000 Updated portfolio data from servicer 1,182,200,000 Transfer of cap due to servicing transfer (355,530,000) $ 128,690,000 $ (991,580,000) $ 1,010,180,000 $ (105,410,000) $ (199,300,000) $ (230,000) $ (3,000,000) $ (12 280 000) $ (12,280,000) (757,680,000) $ (7,110,000) $ (6,300,000) $ (462,990,000) $ 65,070,000 $ 1,213,310,000 2,050,236,344 $ $ 54,767 $ 668,108,890 683,130,000 $ $ (2,038,220,000) $ 384,650,000 2,537,240,000 $ $ (1,679,520,000) $ 190,180,000 $ 1,880,000 $ (881,530,000) $ (3,700,000) $ Page 26 of 46 Servicer Modifying Borrowers' Loans Cap of Incentive Payments on Behalf of Borrowers Adjustment and to Servicers & Pricing Date Cap Adjustment Amount Lenders/Investors (Cap) 1 Mechanism Note $ 407,000,000 N/A 6/17/2009 9/30/2009 12/30/2009 3/26/2010 6/16/2010 7/14/2010 7/16/2010 4/13/2009 4/16/2009 Chase Home Finance, LLC Ocwen Financial Corporation, Inc. Iselin West Palm Beach NJ FL Purchase Purchase Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications $ $ 3,552,000,000 659,000,000 N/A N/A 2 7/31/2009 6/12/2009 9/30/2009 12/30/2009 3/26/2010 6/16/2010 7/14/2010 7/16/2010 4/17/2009 as Bank of America, N.A. amended on 1/26/2010 Simi Valley CA Purchase Financial Instrument for Home Loan Modifications $ 798,900,000 N/A 6/12/2009 9/30/2009 12/30/2009 1/26/2010 3/26/2010 7/14/2010 4/17/2009 as Countrywide Home Loans Servicing LP amended on 1/26/2010 Simi Valley CA Purchase Financial Instrument for Home Loan Modifications $ 1,864,000,000 N/A 6/12/2009 9/30/2009 12/30/2009 1/26/2010 3/26/2010 4/19/2010 6/16/2010 7/14/2010 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 225,040,000 254,380,000 355,710,000 $ $ $ Adjustment Details Date 4/13/2009 Name of Institution Saxon Mortgage Services, Inc. Irving City State TX Transaction Type Purchase Investment Description Financial Instrument for Home Loan Modifications Adjusted Cap Reason for Adjustment 632,040,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 886,420,000 initial cap Updated portfolio data from servicer & HAFA 1,242,130,000 initial cap 1,184,410,000 Updated portfolio data from servicer Transfer of cap to Ocwen Financial 1,028,360,000 Corporation, Inc. due to servicing transfer 514,700,000 Updated portfolio data from servicer Transfer of cap due to multiple servicing 491,720,000 transfers - Termination of SPA 553,380,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 655,960,000 initial cap Updated portfolio data from servicer & HAFA 933,600,000 initial cap 980,460,000 Updated portfolio data from servicer Transfer of cap from Saxon Mortgage 1,136,510,000 Services, Inc. due to servicing transfer 944,900,000 Updated portfolio data from servicer Transfer of cap from Saxon Mortgage 968,610,000 Services, Inc. due to servicing transfer 804,440,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 967,120,000 initial cap Updated portfolio data from servicer & HAFA 1,632,630,000 initial cap 2,433,020,000 Initial 2MP cap 1,603,650,000 Updated portfolio data from servicer 1,236,900,000 Updated portfolio data from servicer 5,182,840,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 4,465,420,000 initial cap Updated portfolio data from servicer & HAFA 6,756,200,000 initial cap 7,206,300,000 Initial 2MP cap 8,111,310,000 Updated portfolio data from servicer Transfer of cap from Wilshire Credit 8,121,590,000 Corporation due to servicing transfer Transfer of cap from Wilshire Credit 8 408 100 000 Corporation due to servicing transfer 8,408,100,000 6,620,800,000 Updated portfolio data from servicer (57,720,000) $ (156,050,000) $ (513,660,000) $ (22,980,000) $ (3,552,000,000) $ (105,620,000) $ 102,580,000 277,640,000 $ $ 46,860,000 $ 156,050,000 $ (191,610,000) $ 23,710,000 $ 5,540,000 $ 162,680,000 665,510,000 800,390,000 $ $ $ (829,370,000) $ (366,750,000) $ 3,318,840,000 $ (717,420,000) $ 2,290,780,000 450,100,000 905,010,000 $ $ $ 10,280,000 $ 286 510 000 286,510,000 $ (1,787,300,000) $ Page 27 of 46 Servicer Modifying Borrowers' Loans Cap of Incentive Payments on Behalf of Borrowers Adjustment and to Servicers & Pricing Date Cap Adjustment Amount Lenders/Investors (Cap) 1 Mechanism Note $ 319,000,000 N/A 6/12/2009 9/30/2009 12/30/2009 3/26/2010 7/14/2010 4/20/2009 Wilshire Credit Corporation Beaverton OR Purchase Financial Instrument for Home Loan Modifications $ 366,000,000 N/A 6/12/2009 9/30/2009 12/30/2009 3/26/2010 4/19/2010 5/14/2010 6/16/2010 7/14/2010 7/16/2010 8/13/2010 4/24/2009 Green Tree Servicing LLC Saint Paul MN Purchase Financial Instrument for Home Loan Modifications $ 156,000,000 N/A 6/17/2009 9/30/2009 12/30/2009 3/26/2010 7/14/2010 7/16/2010 8/13/2010 4/27/2009 Carrington Mortgage Services, LLC Santa Ana CA Purchase Financial Instrument for Home Loan Modifications $ 195,000,000 N/A 6/17/2009 9/30/2009 12/30/2009 3/26/2010 7/14/2010 8/13/2010 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 128,300,000 $ Adjustment Details Date 4/20/2009 Name of Institution Home Loan Services, Inc. City Pittsburgh State PA Transaction Type Purchase Investment Description Financial Instrument for Home Loan Modifications Adjusted Cap Reason for Adjustment 46,730,000 $ 145,820,000 $ 447,300,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 494,030,000 initial cap Updated portfolio data from servicer & HAFA 639,850,000 initial cap 622,410,000 Updated portfolio data from servicer 549,400,000 Updated portfolio data from servicer 453,130,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 203,460,000 initial cap Updated portfolio data from servicer & HAFA 323,160,000 initial cap 375,430,000 Updated portfolio data from servicer Transfer of cap to Countrywide Home Loans 365,150,000 due to servicing transfer Transfer of cap to GMAC Mortgage, Inc. due 363,270,000 to servicing transfer Transfer of cap to Countrywide Home Loans 76,760,000 due to servicing transfer 96,300,000 Updated portfolio data from servicer Transfer of cap to Green Tree Servicing LLC 96,090,000 due to servicing transfer 95,990,000 Transfer of cap due to servicing transfer 91,010,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 221,790,000 initial cap Updated portfolio data from servicer & HAFA 105,040,000 initial cap 118,120,000 Updated portfolio data from servicer 93,900,000 Updated portfolio data from servicer Transfer of cap from Wilshire Credit 94,110,000 Corporation due to servicing transfer 96,310,000 Transfer of cap due to servicing transfer 131,020,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 222,010,000 initial cap Updated portfolio data from servicer & HAFA 279,990,000 initial cap 354,510,000 Updated portfolio data from servicer 278,900,000 Updated portfolio data from servicer 280 000 000 Transfer of cap due to servicing transfer 280,000,000 (17,440,000) $ (73,010,000) $ 87,130,000 $ (249,670,000) $ 119,700,000 $ 52,270,000 $ (10,280,000) $ (1,880,000) $ (286,510,000) $ 19,540,000 $ (210,000) $ (100,000) $ (64,990,000) $ 130,780,000 $ (116,750,000) $ 13,080,000 $ (24,220,000) $ 210,000 $ 2,200,000 $ (63,980,000) $ 90,990,000 $ 57,980,000 $ 74,520,000 $ (75,610,000) $ 1 100 000 $ 1,100,000 Page 28 of 46 Servicer Modifying Borrowers' Loans Cap of Incentive Payments on Behalf of Borrowers Adjustment and to Servicers & Pricing Date Cap Adjustment Amount Lenders/Investors (Cap) 1 Mechanism Note $ 798,000,000 N/A 6/17/2009 9/30/2009 12/30/2009 3/26/2010 7/14/2010 5/28/2009 Nationstar Mortgage LLC Lewisville TX Purchase Financial Instrument for Home Loan Modifications $ 101,000,000 N/A 6/12/2009 9/30/2009 12/30/2009 3/26/2010 7/14/2010 8/13/2010 6/12/2009 Residential Credit Solutions Fort Worth TX Purchase Financial Instrument for Home Loan Modifications $ 19,400,000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 6/17/2009 CCO Mortgage Glen Allen VA Purchase Financial Instrument for Home Loan Modifications $ 16,520,000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 6/17/2009 RG Mortgage Corporation San Juan PR Purchase Financial Instrument for Home Loan Modifications $ 57,000,000 N/A 9/30/2009 12/30/2009 3/26/2010 4/9/2010 7/14/2010 6/19/2009 First Federal Savings and Loan Port Angeles WA Purchase Financial Instrument for Home Loan Modifications $ 770,000 N/A 12/30/2009 3/26/2010 5/26/2010 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ (338,450,000) $ (11,860,000) $ 21,330,000 $ 9,150,000 $ (76,870,000) $ 16,140,000 $ 134,560,000 $ 80,250,000 $ 67,250,000 $ (85,900,000) $ 100,000 $ (1,860,000) $ 27,920,000 $ (1,390,000) $ (13,870,000) $ 13,070,000 $ 145,510,000 $ Adjustment Details Date 5/1/2009 Name of Institution Aurora Loan Services, LLC City Littleton State CO Transaction Type Purchase Investment Description Financial Instrument for Home Loan Modifications Adjusted Cap Reason for Adjustment 459,550,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 447,690,000 initial cap Updated portfolio data from servicer & HAFA 469,020,000 initial cap 478,170,000 Updated portfolio data from servicer 401,300,000 Updated portfolio data from servicer 117,140,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 251,700,000 initial cap Updated portfolio data from servicer & HAFA 331,950,000 initial cap 399,200,000 Updated portfolio data from servicer 313,300,000 Updated portfolio data from servicer 313,400,000 Transfer of cap due to servicing transfer Updated portfolio data from servicer & HPDP 17,540,000 initial cap Updated portfolio data from servicer & HAFA 45,460,000 initial cap 44,070,000 Updated portfolio data from servicer 30,200,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 29,590,000 initial cap Updated portfolio data from servicer & HAFA 175,100,000 initial cap 58,150,000 Updated portfolio data from servicer 34,800,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 45,700,000 initial cap Updated portfolio data from servicer & HAFA 3,490,000 initial cap 69,130,000 Updated portfolio data from servicer 54,660,000 Updated portfolio data from servicer 45,800,000 Updated portfolio data from servicer Updated portfolio data from servicer & HAFA 2,790,000 initial cap 14,160,000 Updated portfolio data from servicer - Termination of SPA (116,950,000) $ (23,350,000) $ (11,300,000) $ (42,210,000) $ 65,640,000 $ (14,470,000) $ (8,860,000) $ 2,020,000 $ 11,370,000 $ (14,160,000) $ Page 29 of 46 Servicer Modifying Borrowers' Loans Cap of Incentive Payments on Behalf of Borrowers Adjustment and to Servicers & Pricing Date Cap Adjustment Amount Lenders/Investors (Cap) 1 Mechanism Note $ 540,000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 7/30/2010 6/26/2009 Citizens First Wholesale Mortgage Company The Villages FL Purchase Financial Instrument for Home Loan Modifications $ 30,000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 6/26/2009 Technology Credit Union San Jose CA Purchase Financial Instrument for Home Loan Modifications $ 70,000 N/A 12/30/2009 3/26/2010 7/14/2010 6/26/2009 National City Bank Miamisburg OH Purchase Financial Instrument for Home Loan Modifications $ 294,980,000 294 980 000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 7/1/2009 Wachovia Mortgage, FSB Des Moines IA Purchase Financial Instrument for Home Loan Modifications $ 634,010,000 N/A 9/30/2009 12/30/2009 2/17/2010 3 7/1/2009 Bayview Loan Servicing, LLC Coral Gables FL Purchase Financial Instrument for Home Loan Modifications $ 44,260,000 N/A 3/12/2010 9/30/2009 12/30/2009 3/26/2010 5/7/2010 7/14/2010 7/10/2009 Lake National Bank Mentor OH Purchase Financial Instrument for Home Loan Modifications $ 100,000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 330,000 $ 16,490,000 $ (14,260,000) $ (1,800,000) $ 1,500,000 $ (10,000) $ 590,000 $ (580,000) $ 70,000 $ 2,180,000 $ (720,000) $ (430,000) $ 315,170,000 $ 90,280,000 $ (18,690,000) $ (272,640,000) $ 723,880,000 $ 692,640,000 $ Adjustment Details Date 6/19/2009 Name of Institution Wescom Central Credit Union City Anaheim State CA Transaction Type Purchase Investment Description Financial Instrument for Home Loan Modifications Adjusted Cap Reason for Adjustment Updated portfolio data from servicer & HPDP 870,000 initial cap Updated portfolio data from servicer & HAFA 17,360,000 initial cap 3,100,000 Updated portfolio data from servicer 1,300,000 Updated portfolio data from servicer 2,800,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 20,000 initial cap Updated portfolio data from servicer & HAFA 610,000 initial cap 30,000 Updated portfolio data from servicer 100,000 Updated portfolio data from servicer Updated portfolio data from servicer & HAFA 2,250,000 initial cap 1,530,000 Updated portfolio data from servicer 1,100,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 610,150,000 initial cap Updated portfolio data from servicer & HAFA 700,430,000 initial cap 681,740,000 Updated portfolio data from servicer 409,100,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 1,357,890,000 initial cap Updated portfolio data from servicer & HAFA 2,050,530,000 initial cap Transfer of cap (to Wells Fargo Bank) due to 293,656 merger Transfer of cap (to Wells Fargo Bank) due to 238,890 merger Updated portfolio data from servicer & HPDP 68,110,000 initial cap Updated portfolio data from servicer & HAFA 111,700,000 initial cap 146,240,000 Updated portfolio data from servicer 147,250,000 Initial 2MP cap 113,000,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 250,000 initial cap Updated portfolio data from servicer & HAFA 380,000 initial cap 430 000 Updated portfolio data from servicer 430,000 400,000 Updated portfolio data from servicer (2,050,236,344) $ (54,767) $ 23,850,000 $ 43,590,000 $ 34,540,000 $ 1,010,000 $ (34,250,000) $ 150,000 $ 130,000 $ 50 000 $ 50,000 (30,000) $ Page 30 of 46 Servicer Modifying Borrowers' Loans Cap of Incentive Payments on Behalf of Borrowers Adjustment and to Servicers & Pricing Date Cap Adjustment Amount Lenders/Investors (Cap) 1 Mechanism Note $ 870,000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 7/17/2009 MorEquity, Inc. Evansville IN Purchase Financial Instrument for Home Loan Modifications $ 23,480,000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 7/17/2009 PNC Bank, National Association Pittsburgh PA Purchase Financial Instrument for Home Loan Modifications $ 54,470,000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 7/17/2009 Farmers State Bank West Salem OH Purchase Financial Instrument for Home Loan Modifications $ 170,000 170 000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 7/17/2009 ShoreBank Chicago IL Purchase Financial Instrument for Home Loan Modifications $ 1,410,000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 7/22/2009 American Home Mortgage Servicing, Inc Coppell TX Purchase Financial Instrument for Home Loan Modifications $ 1,272,490,000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 7/22/2009 Mortgage Center, LLC Southfield MI Purchase Financial Instrument for Home Loan Modifications $ 4,210,000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ (10,000) $ 250,000 $ (10,000) $ (400,000) $ 18,530,000 $ 24,510,000 $ 18,360,000 $ (22,580,000) $ (36,240,000) $ 19,280,000 $ 2,470,000 $ (17,180,000) $ (90,000) $ 50,000 $ 100,000 $ (130,000) $ 890,000 $ 1,260,000 $ (20,000) $ (240,000) $ (53,670,000) $ 250,450,000 124,820,000 $ $ Adjustment Details Date 7/10/2009 Name of Institution IBM Southeast Employees' Federal Credit Union City Delray Beach State FL Transaction Type Purchase Investment Description Financial Instrument for Home Loan Modifications Adjusted Cap Reason for Adjustment Updated portfolio data from servicer & HPDP 860,000 initial cap Updated portfolio data from servicer & HAFA 1,110,000 initial cap 1,100,000 Updated portfolio data from servicer 700,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 42,010,000 initial cap Updated portfolio data from servicer & HAFA 66,520,000 initial cap 84,880,000 Updated portfolio data from servicer 62,300,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 18,230,000 initial cap Updated portfolio data from servicer & HAFA 37,510,000 initial cap 39,980,000 Updated portfolio data from servicer 22,800,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 80,000 initial cap Updated portfolio data from servicer & HAFA 130,000 initial cap 230,000 Updated portfolio data from servicer 100,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 2,300,000 initial cap Updated portfolio data from servicer & HAFA 3,560,000 initial cap 3,540,000 Updated portfolio data from servicer 3,300,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 1,218,820,000 initial cap Updated portfolio data from servicer & HAFA 1,469,270,000 initial cap 1,594,090,000 Updated portfolio data from servicer 1,304,100,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 5,990,000 initial cap Updated portfolio data from servicer & HAFA 8,830,000 initial cap 11,630,000 Updated portfolio data from servicer 5 900 000 Updated portfolio data from servicer 5,900,000 (289,990,000) $ 1,780,000 $ 2,840,000 $ 2,800,000 $ (5 730 000) $ (5,730,000) Page 31 of 46 Servicer Modifying Borrowers' Loans Cap of Incentive Payments on Behalf of Borrowers Adjustment and to Servicers & Pricing Date Cap Adjustment Amount Lenders/Investors (Cap) 1 Mechanism Note $ 860,000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 7/29/2009 First Bank St. Louis MO Purchase Financial Instrument for Home Loan Modifications $ 6,460,000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 7/29/2009 Purdue Employees Federal Credit Union West Lafayette IN Purchase Financial Instrument for Home Loan Modifications $ 1,090,000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 7/29/2009 Wachovia Bank N A Bank, N.A. Charlotte NC Purchase Financial Instrument for Home Loan Modifications $ 85,020,000 85 020 000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 7/31/2009 J.P.Morgan Chase Bank, NA Lewisville TX Purchase Financial Instrument for Home Loan Modifications $ 2,699,720,000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 7/31/2009 EMC Mortgage Corporation Lewisville TX Purchase Financial Instrument for Home Loan Modifications $ 707,380,000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 7/16/2010 8/5/2009 Lake City Bank Warsaw IN Purchase Financial Instrument for Home Loan Modifications $ 420,000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ (490,000) $ 6,750,000 $ (6,340,000) $ (180,000) $ (1,530,000) $ 680,000 $ 2,460,000 $ (2,470,000) $ (60,000) $ 1,260,000 $ 2,070,000 $ (3,960,000) $ (37,700,000) $ 26,160,000 $ 9,820,000 $ (46,200,000) $ (14,850,000) $ 1,178,180,000 1,006,580,000 $ $ Adjustment Details Date 7/22/2009 Name of Institution Mission Federal Credit Union City San Diego State CA Transaction Type Purchase Investment Description Financial Instrument for Home Loan Modifications Adjusted Cap Reason for Adjustment Updated portfolio data from servicer & HPDP 370,000 initial cap Updated portfolio data from servicer & HAFA 7,120,000 initial cap 780,000 Updated portfolio data from servicer 600,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 4,930,000 initial cap Updated portfolio data from servicer & HAFA 5,610,000 initial cap 8,070,000 Updated portfolio data from servicer 5,600,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 1,030,000 initial cap Updated portfolio data from servicer & HAFA 2,290,000 initial cap 4,360,000 Updated portfolio data from servicer 400,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 47,320,000 initial cap Updated portfolio data from servicer & HAFA 73,480,000 initial cap 83,300,000 Updated portfolio data from servicer 37,100,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 2,684,870,000 initial cap Updated portfolio data from servicer & HAFA 3,863,050,000 initial cap Updated portfolio data from servicer & 2MP 4,869,630,000 initial cap 2,935,400,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 707,370,000 initial cap Updated portfolio data from servicer & HAFA 1,209,800,000 initial cap Updated portfolio data from servicer & 2MP 1,075,240,000 initial cap 683,100,000 Updated portfolio data from servicer Transfer of cap to Saxon Mortgage Services, 682,470,000 Inc. Updated portfolio data from servicer & HPDP 600,000 initial cap Updated portfolio data from servicer & HAFA 250,000 initial cap 270 000 Updated portfolio data from servicer 270,000 200,000 Updated portfolio data from servicer (1,934,230,000) $ (10,000) $ 502,430,000 $ (134,560,000) $ (392,140,000) $ (630,000) $ 180,000 $ (350,000) $ 20 000 $ 20,000 (70,000) $ Page 32 of 46 Servicer Modifying Borrowers' Loans Cap of Incentive Payments on Behalf of Borrowers Adjustment and to Servicers & Pricing Date Cap Adjustment Amount Lenders/Investors (Cap) 1 Mechanism Note $ 140,000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 8/5/2009 HomEq Servicing North Highlands CA Purchase Financial Instrument for Home Loan Modifications $ 674,000,000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 8/12/2009 Litton Loan Servicing LP Houston TX Purchase Financial Instrument for Home Loan Modifications $ 774,900,000 N/A 9/30/2009 12/30/2009 3/26/2010 7/14/2010 8/13/2010 8/12/2009 PennyMac Loan Services, LLC Calasbasa CA Purchase Financial Instrument for Home Loan Modifications $ 6,210,000 N/A 9/30/2009 12/30/2009 3/26/2010 6/16/2010 7/14/2010 7/16/2010 8/13/2010 8/12/2009 Servis One, Inc. Titusville PA Purchase Financial Instrument for Home Loan Modifications $ 29,730,000 N/A 9/30/2009 12/30/2009 3/26/2010 4/19/2010 5/19/2010 7/14/2010 8/28/2009 OneWest Bank Pasadena CA Purchase Financial Instrument for Home Loan Modifications $ 668,440,000 N/A 10/2/2009 12/30/2009 3/26/2010 7/14/2010 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 290,000 $ 210,000 $ 170,000 $ (10,000) $ (121,190,000) $ (36,290,000) $ 199,320,000 $ Adjustment Details Date 8/5/2009 Name of Institution Oakland Municipal Credit Union City Oakland State CA Transaction Type Purchase Investment Description Financial Instrument for Home Loan Modifications Adjusted Cap Reason for Adjustment Updated portfolio data from servicer & HPDP 430,000 initial cap Updated portfolio data from servicer & HAFA 640,000 initial cap 810,000 Updated portfolio data from servicer 800,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 552,810,000 initial cap Updated portfolio data from servicer & HAFA 516,520,000 initial cap 715,840,000 Updated portfolio data from servicer 526,800,000 Updated portfolio data from servicer Updated portfolio data from servicer & HPDP 1,087,950,000 initial cap Updated portfolio data from servicer & HAFA 1,363,320,000 initial cap 1,642,230,000 Updated portfolio data from servicer 1,167,500,000 Updated portfolio data from servicer 1,166,800,000 Transfer of cap to due to servicing transfer Updated portfolio data from servicer & HPDP 5,010,000 initial cap Updated portfolio data from servicer & HAFA 35,810,000 initial cap 59,010,000 Updated portfolio data from servicer Transfer of cap from CitiMortgage, Inc. due to 61,720,000 servicing transfer 43,700,000 Updated portfolio data from servicer Transfer of cap from CitiMortgage, Inc. due to 50,380,000 servicing transfer 52,980,000 Transfer of cap to due to servicing transfer Updated portfolio data from servicer & HPDP 4,220,000 initial cap Updated portfolio data from servicer & HAFA 4,740,000 initial cap 9,070,000 Updated portfolio data from servicer Transfer of cap from CitiMortgage, Inc. due to 9,300,000 servicing transfer 10,150,000 Initial 2MP cap 9,300,000 Updated portfolio data from servicer 814,240,000 HPDP initial cap Updated portfolio data from servicer & HAFA 2 170 170 000 initial cap 2,170,170,000 2,291,350,000 Updated portfolio data from servicer 1,882,500,000 Updated portfolio data from servicer (189,040,000) $ 313,050,000 $ 275,370,000 278,910,000 $ $ (474,730,000) $ (700,000) $ (1,200,000) $ 30,800,000 $ 23,200,000 $ 2,710,000 $ (18,020,000) $ 6,680,000 $ 2,600,000 $ (25,510,000) $ 520,000 $ 4,330,000 $ 230,000 $ 850,000 $ (850,000) $ 145,800,000 $ 1 355 930 000 1,355,930,000 121,180,000 $ $ (408,850,000) $ Page 33 of 46 Servicer Modifying Borrowers' Loans Cap of Incentive Payments on Behalf of Borrowers Adjustment and to Servicers & Pricing Date Cap Adjustment Amount Lenders/Investors (Cap) 1 Mechanism Note $ 300,000 N/A 10/2/2009 12/30/2009 3/26/2010 7/14/2010 8/28/2009 RoundPoint Mortgage Servicing Corporation Charlotte NC Purchase Financial Instrument for Home Loan Modifications $ 570,000 N/A 10/2/2009 12/30/2009 3/26/2010 7/14/2010 9/2/2009 Horicon Bank Horicon WI Purchase Financial Instrument for Home Loan Modifications $ 560,000 N/A 10/2/2009 12/30/2009 3/26/2010 5/12/2010 7/14/2010 9/2/2009 as Vantium Capital, Inc.dba Acqura Loan Services amended on 8/27/2010 Plano TX Purchase Financial Instrument for Home Loan Modifications $ 6,000,000 N/A 6 10/2/2009 12/30/2009 3/26/2010 7/14/2010 9/9/2009 Central Florida Educators Federal Credit Union Lake Mary FL Purchase Financial Instrument for Home Loan Modifications $ 1,250,000 N/A 10/2/2009 12/30/2009 3/26/2010 7/14/2010 9/9/2009 U.S. Bank National Association Owensboro KY Purchase Financial Instrument for Home Loan Modifications $ 114,220,000 N/A 10/2/2009 12/30/2009 3/26/2010 7/14/2010 9/9/2009 CUC Mortgage Corporation Albany NY Purchase Financial Instrument for Home Loan Modifications $ 4,350,000 N/A 10/2/2009 12/30/2009 3/26/2010 7/14/2010 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 70,000 $ 2,680,000 $ 350,000 $ (1,900,000) $ 130,000 $ (310,000) $ 2,110,000 $ 8,300,000 $ 130,000 $ 1,040,000 $ (1,680,000) $ 1,260,000 $ (1,110,000) $ 1,310,000 $ (3,390,000) $ 410,000 $ (730,000) $ 280,000 $ (750,000) $ 120,000 $ (300,000) $ 24,920,000 $ 49,410,000 $ 41,830,000 $ (85,780,000) $ 950,000 $ 5,700,000 $ 740 000 $ 740,000 (1,440,000) $ Adjustment Details Date 8/28/2009 Name of Institution Stanford Federal Credit Union City Palo Alto State CA Transaction Type Purchase Investment Description Financial Instrument for Home Loan Modifications Adjusted Cap Reason for Adjustment 370,000 HPDP initial cap Updated portfolio data from servicer & HAFA 3,050,000 initial cap 3,400,000 Updated portfolio data from servicer 1,500,000 Updated portfolio data from servicer 700,000 HPDP initial cap Updated portfolio data from servicer & HAFA 390,000 initial cap 2,500,000 Updated portfolio data from servicer 10,800,000 Updated portfolio data from servicer 690,000 HPDP initial cap Updated portfolio data from servicer & HAFA 1,730,000 initial cap 50,000 Updated portfolio data from servicer 1,310,000 Updated portfolio data from servicer 200,000 Updated portfolio data from servicer 7,310,000 HPDP initial cap Updated portfolio data from servicer & HAFA 3,920,000 initial cap 4,330,000 Updated portfolio data from servicer 3,600,000 Updated portfolio data from servicer 1,530,000 HPDP initial cap Updated portfolio data from servicer & HAFA 780,000 initial cap 900,000 Updated portfolio data from servicer 600,000 Updated portfolio data from servicer 139,140,000 HPDP initial cap Updated portfolio data from servicer & HAFA 188,550,000 initial cap 230,380,000 Updated portfolio data from servicer 144,600,000 Updated portfolio data from servicer 5,300,000 HPDP initial cap Updated portfolio data from servicer & HAFA 11,000,000 initial cap 11 740 000 Updated portfolio data from servicer 11,740,000 10,300,000 Updated portfolio data from servicer Page 34 of 46 Servicer Modifying Borrowers' Loans Cap of Incentive Payments on Behalf of Borrowers Adjustment and to Servicers & Pricing Date Cap Adjustment Amount Lenders/Investors (Cap) 1 Mechanism Note $ 2,070,000 N/A 10/2/2009 12/30/2009 3/26/2010 7/14/2010 9/11/2009 Allstate Mortgage Loans & Investments, Inc. Ocala FL Purchase Financial Instrument for Home Loan Modifications $ 250,000 N/A 10/2/2009 12/30/2009 3/26/2010 7/14/2010 9/11/2009 Metropolitan National Bank Little Rock AR Purchase Financial Instrument for Home Loan Modifications $ 280,000 N/A 10/2/2009 12/30/2009 3/26/2010 7/14/2010 9/11/2009 Franklin Credit Management Corporation Jersey City NJ Purchase Financial Instrument for Home Loan Modifications $ 27,510,000 27 510 000 N/A 10/2/2009 12/30/2009 3/26/2010 7/14/2010 9/16/2009 Bay Federal Credit Union Capitola CA Purchase Financial Instrument for Home Loan Modifications $ 410,000 N/A 10/2/2009 12/30/2009 3/26/2010 7/14/2010 9/23/2009 AMS Servicing, LLC Buffalo NY Purchase Financial Instrument for Home Loan Modifications $ 4,390,000 N/A 10/2/2009 12/30/2009 3/26/2010 7/14/2010 9/23/2009 Schools Financial Credit Union Sacramento CA Purchase Financial Instrument for Home Loan Modifications $ 390,000 N/A 10/2/2009 12/30/2009 3/26/2010 7/14/2010 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 460,000 $ 2,730,000 $ 13,280,000 $ (13,540,000) $ 60,000 $ (80,000) $ 280,000 $ (410,000) $ 70,000 $ 620,000 $ 100,000 $ (670,000) $ 6,010,000 $ (19,750,000) $ (4,780,000) $ (2,390,000) $ 90,000 $ 1,460,000 $ 160,000 $ (120,000) $ 960,000 $ (3,090,000) $ 230,000 $ 5,310,000 $ 90,000 $ 940,000 $ (980,000) $ (140 000) $ (140,000) Adjustment Details Date 9/11/2009 Name of Institution ORNL Federal Credit Union City Oak Ridge State TN Transaction Type Purchase Investment Description Financial Instrument for Home Loan Modifications Adjusted Cap Reason for Adjustment 2,530,000 HPDP initial cap Updated portfolio data from servicer & HAFA 5,260,000 initial cap 18,540,000 Updated portfolio data from servicer 5,000,000 Updated portfolio data from servicer 310,000 HPDP initial cap Updated portfolio data from servicer & HAFA 230,000 initial cap 510,000 Updated portfolio data from servicer 100,000 Updated portfolio data from servicer 350,000 HPDP initial cap Updated portfolio data from servicer & HAFA 970,000 initial cap 1,070,000 Updated portfolio data from servicer 400,000 Updated portfolio data from servicer 33,520,000 HPDP initial cap Updated portfolio data from servicer & HAFA 13,770,000 initial cap 8,990,000 Updated portfolio data from servicer 6,600,000 Updated portfolio data from servicer 500,000 HPDP initial cap Updated portfolio data from servicer & HAFA 1,960,000 initial cap 2,120,000 Updated portfolio data from servicer 2,000,000 Updated portfolio data from servicer 5,350,000 HPDP initial cap Updated portfolio data from servicer & HAFA 2,260,000 initial cap 2,490,000 Updated portfolio data from servicer 7,800,000 Updated portfolio data from servicer 480,000 HPDP initial cap Updated portfolio data from servicer & HAFA 1,420,000 initial cap 440,000 Updated portfolio data from servicer 300 000 Updated portfolio data from servicer 300,000 Page 35 of 46 Servicer Modifying Borrowers' Loans Cap of Incentive Payments on Behalf of Borrowers Adjustment and to Servicers & Pricing Date Cap Adjustment Amount Lenders/Investors (Cap) 1 Mechanism Note $ 230,000 N/A 10/2/2009 12/30/2009 3/26/2010 7/14/2010 9/23/2009 Central Jersey Federal Credit Union Woodbridge NJ Purchase Financial Instrument for Home Loan Modifications $ 30,000 N/A 10/2/2009 12/30/2009 3/26/2010 7/14/2010 9/23/2009 Yadkin Valley Bank Elkin NC Purchase Financial Instrument for Home Loan Modifications $ 240,000 N/A 10/2/2009 12/30/2009 3/26/2010 7/14/2010 9/25/2009 SEFCU Albany NY Purchase Financial Instrument for Home Loan Modifications $ 440,000 440 000 N/A 10/2/2009 12/30/2009 3/26/2010 7/14/2010 10/14/2009 Great Lakes Credit Union North Chicago IL Purchase Financial Instrument for Home Loan Modifications $ 570,000 N/A 12/30/2009 3/26/2010 7/14/2010 10/14/2009 Mortgage Clearing Corporation Tulsa OK Purchase Financial Instrument for Home Loan Modifications $ 4,860,000 N/A 12/30/2009 3/26/2010 7/14/2010 10/21/2009 United Bank Mortgage Corporation Grand Rapids MI Purchase Financial Instrument for Home Loan Modifications $ 410,000 N/A 1/22/2010 3/26/2010 7/14/2010 10/23/2009 Bank United Miami Lakes FL Purchase Financial Instrument for Home Loan Modifications $ 93,660,000 N/A 1/22/2010 3/26/2010 7/14/2010 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 60,000 $ (10,000) $ 130,000 $ (110,000) $ 10,000 $ 120,000 $ 10,000 $ (70,000) $ 60,000 $ 350,000 $ 1,360,000 $ (1,810,000) $ 100,000 $ 20,000 $ (290,000) $ (70,000) $ 1,030,000 $ (880,000) $ (320,000) $ (2,900,000) $ (1,600,000) $ (260,000) $ 20,000 $ 400,000 $ (430,000) $ 4,370,000 $ 23,880,000 $ (16 610 000) $ (16,610,000) Adjustment Details Date 9/23/2009 Name of Institution Glass City Federal Credit Union City Maumee State OH Transaction Type Purchase Investment Description Financial Instrument for Home Loan Modifications Adjusted Cap Reason for Adjustment 290,000 HPDP initial cap Updated portfolio data from servicer & HAFA 280,000 initial cap 410,000 Updated portfolio data from servicer 300,000 Updated portfolio data from servicer 40,000 HPDP initial cap Updated portfolio data from servicer & HAFA 160,000 initial cap 170,000 Updated portfolio data from servicer 100,000 Updated portfolio data from servicer 300,000 HPDP initial cap Updated portfolio data from servicer & HAFA 650,000 initial cap 2,010,000 Updated portfolio data from servicer 200,000 Updated portfolio data from servicer 540,000 HPDP initial cap Updated portfolio data from servicer & HAFA 560,000 initial cap 270,000 Updated portfolio data from servicer 200,000 Updated portfolio data from servicer Updated portfolio data from servicer & HAFA 1,600,000 initial cap 720,000 Updated portfolio data from servicer 400,000 Updated portfolio data from servicer Updated portfolio data from servicer & HAFA 1,960,000 initial cap 360,000 Updated portfolio data from servicer 100,000 Updated portfolio data from servicer 430,000 Updated HPDP cap & HAFA initial cap 830,000 Updated portfolio data from servicer 400,000 Updated portfolio data from servicer 98,030,000 Updated HPDP cap & HAFA initial cap 121,910,000 Updated portfolio data from servicer 105 300 000 U d t d portfolio data from servicer 105,300,000 Updated tf li d t f i Page 36 of 46 Servicer Modifying Borrowers' Loans Cap of Incentive Payments on Behalf of Borrowers Adjustment and to Servicers & Pricing Date Cap Adjustment Amount Lenders/Investors (Cap) 1 Mechanism Note $ 760,000 N/A 1/22/2010 3/26/2010 5/12/2010 7/14/2010 10/28/2009 Harleysville National Bank & Trust Company 10/28/2009 Members Mortgage Company, Inc 10/30/2009 DuPage Credit Union Harleysville Woburn Naperville PA MA IL Purchase Purchase Purchase Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications $ $ $ 1,070,000 510,000 70,000 N/A N/A N/A 4/21/2010 4/21/2010 1/22/2010 3/26/2010 7/14/2010 11/6/2009 Los Alamos National Bank Los Alamos NM Purchase Financial Instrument for Home Loan Modifications $ 700,000 N/A 1/22/2010 3/26/2010 7/14/2010 11/18/2009 Quantum Servicing Corporation Tampa FL Purchase Financial Instrument for Home Loan Modifications $ 18,960,000 N/A 1/22/2010 3/26/2010 7/14/2010 11/18/2009 Hillsdale County National Bank Hillsdale MI Purchase Financial Instrument for Home Loan Modifications $ 1,670,000 N/A 1/22/2010 3/26/2010 7/14/2010 11/18/2009 QLending, Inc. Coral Gables FL Purchase Financial Instrument for Home Loan Modifications $ 20,000 N/A 1/22/2010 3/26/2010 7/14/2010 11/25/2009 Marix Servicing, LLC Phoenix AZ Purchase Financial Instrument for Home Loan Modifications $ 20,360,000 N/A 1/22/2010 3/26/2010 6/16/2010 7/14/2010 8/13/2010 11/25/2009 Home Financing Center, Inc 11/25/2009 First Keystone Bank Coral Gables Media FL PA Purchase Purchase Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications $ $ 230,000 1,280,000 N/A N/A 4/21/2010 1/22/2010 3/26/2010 7/14/2010 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 40,000 $ (760,000) $ 2,630,000 $ (770,000) $ (1,070,000) $ (510,000) $ 10,000 $ 10,000 $ 10,000 $ 40,000 $ 50,000 $ 1,310,000 $ 890,000 $ 3,840,000 $ (2,890,000) $ 80,000 $ 330,000 $ (1,080,000) $ - $ (10,000) $ 90,000 $ 950,000 $ (17,880,000) $ 1,030,000 $ (1,160,000) $ 800,000 $ (230,000) $ 50,000 $ 1,020,000 $ (950,000) $ Adjustment Details Date Name of Institution City Fitchburg State MA Transaction Type Purchase Investment Description Financial Instrument for Home Loan Modifications Adjusted Cap Reason for Adjustment 10/23/2009 IC Federal Credit Union 800,000 Updated HPDP cap & HAFA initial cap 40,000 Updated portfolio data from servicer 2,670,000 Updated portfolio data from servicer 1,900,000 Updated portfolio data from servicer - Termination of SPA - Termination of SPA 80,000 Updated HPDP cap & HAFA initial cap 90,000 Updated portfolio data from servicer 100,000 Updated portfolio data from servicer 740,000 Updated HPDP cap & HAFA initial cap 790,000 Updated portfolio data from servicer 2,100,000 Updated portfolio data from servicer 19,850,000 Updated HPDP cap & HAFA initial cap 23,690,000 Updated portfolio data from servicer 20,800,000 Updated portfolio data from servicer 1,750,000 Updated HPDP cap & HAFA initial cap 2,080,000 Updated portfolio data from servicer 1,000,000 Updated portfolio data from servicer 20,000 Updated HPDP cap & HAFA initial cap 10,000 Updated portfolio data from servicer 100,000 Updated portfolio data from servicer 21,310,000 Updated HPDP cap & HAFA initial cap 3,430,000 Updated portfolio data from servicer Transfer of cap from CitiMortgage, Inc. due to 4,460,000 servicing transfer 3,300,000 Updated portfolio data from servicer 4,100,000 Transfer of cap due to servicing transfer - Termination of SPA 1,330,000 Updated HPDP cap & HAFA initial cap 2,350,000 Updated portfolio data from servicer 1,400,000 Updated portfolio data from servicer Page 37 of 46 Servicer Modifying Borrowers' Loans Cap of Incentive Payments on Behalf of Borrowers Adjustment and to Servicers & Pricing Date Cap Adjustment Amount Lenders/Investors (Cap) 1 Mechanism Note $ 380,000 N/A 1/22/2010 3/26/2010 7/14/2010 12/4/2009 Idaho Housing and Finance Association Boise ID Purchase Financial Instrument for Home Loan Modifications $ 9,430,000 N/A 1/22/2010 3/26/2010 5/26/2010 7/14/2010 12/9/2009 Spirit of Alaska Federal Credit Union Fairbanks AK Purchase Financial Instrument for Home Loan Modifications $ 360,000 N/A 1/22/2010 3/26/2010 7/14/2010 12/9/2009 American Eagle Federal Credit Union East Hartford CT Purchase Financial Instrument for Home Loan Modifications $ 1,590,000 N/A 1/22/2010 3/26/2010 7/14/2010 12/9/2009 Silver State Schools Credit Union Las Vegas NV Purchase Financial Instrument for Home Loan Modifications $ 1,880,000 N/A 1/22/2010 3/26/2010 7/14/2010 12/9/2009 Fidelity Homestead Savings Bank New Orleans LA Purchase Financial Instrument for Home Loan Modifications $ 2,940,000 N/A 1/22/2010 3/26/2010 7/14/2010 12/9/2009 Bay Gulf Credit Union Tampa FL Purchase Financial Instrument for Home Loan Modifications $ 230,000 N/A 1/22/2010 3/26/2010 7/14/2010 12/9/2009 The Golden 1 Credit Union Sacramento CA Purchase Financial Instrument for Home Loan Modifications $ 6,160,000 N/A 1/22/2010 3/26/2010 7/14/2010 12/9/2009 Sterling Savings Bank Spokane WA Purchase Financial Instrument for Home Loan Modifications $ 2,250,000 N/A 1/22/2010 3/26/2010 7/14/2010 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 10,000 $ 520,000 $ (810,000) $ 440,000 $ 14,480,000 $ (24,200,000) $ 150,000 $ 10,000 $ 850,000 $ (120,000) $ 70,000 $ (290,000) $ (570,000) $ 90,000 $ 1,110,000 $ (1,180,000) $ 140,000 $ 6,300,000 $ (1,980,000) $ 10,000 $ 440,000 $ (80,000) $ 290,000 $ 40,000 $ (2,890,000) $ 100,000 $ (740,000) $ (710,000) $ Adjustment Details Date 12/4/2009 Name of Institution Community Bank & Trust Company City Clarks Summit State PA Transaction Type Purchase Investment Description Financial Instrument for Home Loan Modifications Adjusted Cap Reason for Adjustment 390,000 Updated HPDP cap & HAFA initial cap 910,000 Updated portfolio data from servicer 100,000 Updated portfolio data from servicer 9,870,000 Updated HPDP cap & HAFA initial cap 24,350,000 Updated portfolio data from servicer 150,000 Updated portfolio data from servicer 300,000 Updated portfolio data from servicer 370,000 Updated HPDP cap & HAFA initial cap 1,220,000 Updated portfolio data from servicer 1,100,000 Updated portfolio data from servicer 1,660,000 Updated HPDP cap & HAFA initial cap 1,370,000 Updated portfolio data from servicer 800,000 Updated portfolio data from servicer 1,970,000 Updated HPDP cap & HAFA initial cap 3,080,000 Updated portfolio data from servicer 1,900,000 Updated portfolio data from servicer 3,080,000 Updated HPDP cap & HAFA initial cap 9,380,000 Updated portfolio data from servicer 7,400,000 Updated portfolio data from servicer 240,000 Updated HPDP cap & HAFA initial cap 680,000 Updated portfolio data from servicer 600,000 Updated portfolio data from servicer 6,450,000 Updated HPDP cap & HAFA initial cap 6,490,000 Updated portfolio data from servicer 3,600,000 Updated portfolio data from servicer 2,350,000 Updated HPDP cap & HAFA initial cap 1,610,000 Updated portfolio data from servicer 900,000 Updated portfolio data from servicer Page 38 of 46 Servicer Modifying Borrowers' Loans Cap of Incentive Payments on Behalf of Borrowers Adjustment and to Servicers & Pricing Date Cap Adjustment Amount Lenders/Investors (Cap) 1 Mechanism Note $ 310,000 N/A 1/22/2010 3/26/2010 7/14/2010 12/11/2009 Glenview State Bank Glenview IL Purchase Financial Instrument for Home Loan Modifications $ 370,000 N/A 1/22/2010 3/26/2010 5/26/2010 12/11/2009 Verity Credit Union Seattle WA Purchase Financial Instrument for Home Loan Modifications $ 600,000 N/A 1/22/2010 3/26/2010 7/14/2010 12/11/2009 Hartford Savings Bank Hartford WI Purchase Financial Instrument for Home Loan Modifications $ 630,000 N/A 1/22/2010 3/26/2010 7/14/2010 12/11/2009 The Bryn Mawr Trust Co. 12/16/2009 Citizens 1st National Bank Bryn Mawr Spring Valley PA IL Purchase Purchase Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications $ $ 150,000 620,000 N/A N/A 4/21/2010 1/22/2010 3/26/2010 7/14/2010 12/16/2009 Golden Plains Credit Union Garden City KS Purchase Financial Instrument for Home Loan Modifications $ 170,000 N/A 1/22/2010 3/26/2010 7/14/2010 12/16/2009 First Federal Savings and Loan Association of Lakewood Lakewood OH Purchase Financial Instrument for Home Loan Modifications $ 3,460,000 N/A 1/22/2010 4/21/2010 12/16/2009 Sound Community Bank Seattle WA Purchase Financial Instrument for Home Loan Modifications $ 440,000 N/A 1/22/2010 3/26/2010 7/14/2010 12/16/2009 Horizon Bank, NA Michigan City IN Purchase Financial Instrument for Home Loan Modifications $ 700,000 N/A 1/22/2010 3/26/2010 7/14/2010 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 20,000 $ 820,000 $ (350,000) $ 20,000 $ 1,250,000 $ (1,640,000) $ 30,000 $ 400,000 $ (330,000) $ 30,000 $ 800,000 $ (360,000) $ (150,000) $ 30,000 $ (580,000) $ 1,430,000 $ 10,000 $ 30,000 $ (10,000) $ 160,000 $ (3,620,000) $ 20,000 $ 1,430,000 $ (390,000) $ 30,000 $ 1,740,000 $ (1,870,000) $ Adjustment Details Date Name of Institution City Manteno State IL Transaction Type Purchase Investment Description Financial Instrument for Home Loan Modifications Adjusted Cap Reason for Adjustment 12/11/2009 HomeStar Bank & Financial Services 330,000 Updated HPDP cap & HAFA initial cap 1,150,000 Updated portfolio data from servicer 800,000 Updated portfolio data from servicer 390,000 Updated HPDP cap & HAFA initial cap 1,640,000 Updated portfolio data from servicer - Termination of SPA 630,000 Updated HPDP cap & HAFA initial cap 1,030,000 Updated portfolio data from servicer 700,000 Updated portfolio data from servicer 660,000 Updated HPDP cap & HAFA initial cap 1,460,000 Updated portfolio data from servicer 1,100,000 Updated portfolio data from servicer - Termination of SPA 650,000 Updated HPDP cap & HAFA initial cap 70,000 Updated portfolio data from servicer 1,500,000 Updated portfolio data from servicer 180,000 Updated HPDP cap & HAFA initial cap 210,000 Updated portfolio data from servicer 200,000 Updated portfolio data from servicer 3,620,000 Updated HPDP cap & HAFA initial cap - Termination of SPA 460,000 Updated HPDP cap & HAFA initial cap 1,890,000 Updated portfolio data from servicer 1,500,000 Updated portfolio data from servicer 730,000 Updated HPDP cap & HAFA initial cap 2,470,000 Updated portfolio data from servicer 600,000 Updated portfolio data from servicer Page 39 of 46 Servicer Modifying Borrowers' Loans Cap of Incentive Payments on Behalf of Borrowers Adjustment and to Servicers & Pricing Date Cap Adjustment Amount Lenders/Investors (Cap) 1 Mechanism Note $ 760,000 N/A 1/22/2010 3/26/2010 7/14/2010 12/23/2009 Iberiabank Sarasota FL Purchase Financial Instrument for Home Loan Modifications $ 4,230,000 N/A 1/22/2010 3/26/2010 7/14/2010 12/23/2009 Grafton Suburban Credit Union North Grafton MA Purchase Financial Instrument for Home Loan Modifications $ 340,000 N/A 1/22/2010 3/26/2010 7/14/2010 12/23/2009 Eaton National Bank & Trust Company Eaton OH Purchase Financial Instrument for Home Loan Modifications $ 60,000 N/A 1/22/2010 3/26/2010 7/14/2010 12/23/2009 Tempe Schools Credit Union Tempe AZ Purchase Financial Instrument for Home Loan Modifications $ 110,000 N/A 1/22/2010 3/26/2010 7/14/2010 1/13/2010 Fresno County Federal Credit Union Fresno CA Purchase Financial Instrument for Home Loan Modifications $ 260,000 N/A 3/26/2010 7/14/2010 1/13/2010 Roebling Bank Roebling NJ Purchase Financial Instrument for Home Loan Modifications $ 240,000 N/A 3/26/2010 7/14/2010 1/13/2010 First National Bank of Grant Park Grant Park IL Purchase Financial Instrument for Home Loan Modifications $ 140,000 N/A 3/26/2010 7/14/2010 1/13/2010 Specialized Loan Servicing, LLC Highlands Ranch CO Purchase Financial Instrument for Home Loan Modifications $ 64,150,000 N/A 3/26/2010 5/14/2010 6/16/2010 7/14/2010 7/16/2010 8/13/2010 1/13/2010 Greater Nevada Mortgage Services G t N d M t S i Carson City C Cit NV P h Purchase Fi Financial Instrument for H i lI t t f Home L Loan M difi ti Modifications $ 770,000 770 000 N/A 3/26/2010 7/14/2010 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 40,000 $ 140,000 $ (140,000) $ 200,000 $ (1,470,000) $ (1,560,000) $ 20,000 $ (320,000) $ 760,000 $ - $ 90,000 $ 50,000 $ - $ (20,000) $ 10,000 $ 480,000 $ (140,000) $ 610,000 $ 50,000 $ 150,000 $ 10,000 $ (51,240,000) $ 3,000,000 $ 4,860,000 $ 3,630,000 $ 330,000 $ 700,000 $ 8,680,000 $ (8,750,000) $ Adjustment Details Date Name of Institution Solon City State OH Transaction Type Purchase Investment Description Financial Instrument for Home Loan Modifications Adjusted Cap Reason for Adjustment 12/16/2009 Park View Federal Savings Bank 800,000 Updated HPDP cap & HAFA initial cap 940,000 Updated portfolio data from servicer 800,000 Updated portfolio data from servicer 4,430,000 Updated HPDP cap & HAFA initial cap 2,960,000 Updated portfolio data from servicer 1,400,000 Updated portfolio data from servicer 360,000 Updated HPDP cap & HAFA initial cap 40,000 Updated portfolio data from servicer 800,000 Updated portfolio data from servicer 60,000 Updated HPDP cap & HAFA initial cap 150,000 Updated portfolio data from servicer 200,000 Updated portfolio data from servicer 110,000 Updated HPDP cap & HAFA initial cap 90,000 Updated portfolio data from servicer 100,000 Updated portfolio data from servicer 740,000 Updated portfolio data from servicer 600,000 Updated portfolio data from servicer 850,000 Updated portfolio data from servicer 900,000 Updated portfolio data from servicer 290,000 Updated portfolio data from servicer 300,000 Updated portfolio data from servicer 12,910,000 Updated portfolio data from servicer Transfer of cap from CitiMortgage, Inc. due to 15,910,000 servicing transfer Transfer of cap from CitiMortgage, Inc. due to 20,770,000 servicing transfer 24,400,000 Updated portfolio data from servicer Transfer of cap from CitiMortgage, Inc. due to 24,730,000 servicing transfer 25,430,000 Transfer of cap due to servicing transfer 9,450,000 Updated portfolio data from servicer 700,000 Updated portfolio data from servicer Page 40 of 46 Servicer Modifying Borrowers' Loans Cap of Incentive Payments on Behalf of Borrowers Adjustment and to Servicers & Pricing Date Cap Adjustment Amount Lenders/Investors (Cap) 1 Mechanism Note $ 3,050,000 N/A 3/26/2010 5/14/2010 1/29/2010 iServe Residential Lending, LLC San Diego CA Purchase Financial Instrument for Home Loan Modifications $ 960,000 N/A 3/26/2010 7/14/2010 1/29/2010 3/3/2010 3/5/2010 United Bank Urban Trust Bank iServe Servicing, Inc. Griffin Lake Mary Irving GA FL TX Purchase Purchase Purchase Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications $ $ $ 540,000 1,060,000 28,040,000 N/A N/A N/A 3/26/2010 7/14/2010 5/26/2010 7/14/2010 3/10/2010 3/10/2010 4/14/2010 4/14/2010 5/21/2010 6/16/2010 Navy Federal Credit Union Vist Financial Corp Midwest Bank and Trust Co. Wealthbridge Mortgage Corp Aurora Financial Group, Inc. Selene Financial, L.P. Vienna Wyomissing Elmwood Park Beaverton Marlton Houston VA PA IL OR NJ TX Purchase Purchase Purchase Purchase Purchase Transfer Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications $ $ $ $ $ $ 60,780,000 300,000 300,000 6,550,000 10,000 N/A N/A N/A N/A N/A N/A 4 5 7/14/2010 7/14/2010 7/14/2010 7/14/2010 5/26/2010 6/16/2010 8/13/2010 8/4/2010 8/20/2010 8/25/2010 8/27/2010 Suburban Mortgage Company of New Mexico Bramble Savings Bank Pathfinder Bank First Financial Bank, N.A. Albuquerque Cincinanati Oswego Terre Haute NM OH NY ID Purchase Purchase Purchase Purchase Financial Instrument for Home Loan Modificatiosn Financial Instrument for Home Loan Modificatiosn Financial Instrument for Home Loan Modificatiosn Financial Instrument for Home Loan Modificatiosn Total Initial Cap $ $ $ $ $ 880,000 700,000 1,300,000 4,300,000 23,769,170,000 TOTAL CAP N/A N/A N/A N/A Total Cap Adjustments $ $ 4,988,868,890 28,758,038,890 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 12,190,000 $ (15,240,000) $ (730,000) $ 370,000 $ 160,000 $ 4,440,000 $ 120,000 $ (12,660,000) $ (44,880,000) $ 400,000 $ 300,000 $ (150,000) $ 30,000 $ 3,680,000 3,300,000 Adjustment Details Date 1/15/2010 Name of Institution Digital Federal Credit Union City Marlborough State MA Transaction Type Purchase Investment Description Financial Instrument for Home Loan Modifications Adjusted Cap Reason for Adjustment 15,240,000 Updated portfolio data from servicer - Termination of SPA 230,000 Updated portfolio data from servicer 600,000 Updated portfolio data from servicer 700,000 Updated portfolio data from servicer 5,500,000 Updated portfolio data from servicer 28,160,000 Initial 2MP cap 15,500,000 Updated portfolio data from servicer 15,900,000 Updated portfolio data from servicer 700,000 Updated portfolio data from servicer 600,000 Updated portfolio data from servicer 6,400,000 Updated portfolio data from servicer 40,000 Updated FHA-HAMP cap Transfer of cap from CitiMortgage, Inc. due to 3,680,000 servicing transfer 6,980,000 Transfer of cap due to servicing transfer $ $ 1/ The Cap of Incentive Payments represents the potential total amount allocated to each servicer and includes the maximum amount allotted for all payments on behalf of borrowers and payments to servicers and lenders/investors. The Cap is subject to adjustment based on the total amount allocated to the program and individual servicer usage for borrower modifications. Each adjustment to the Cap is reflected under Adjustment Details. 2/ On July 31, 2009, the SPA with Chase Home Finance, LLC was terminated and superseded by new SPAs with J.P. Morgan Chase Bank, NA and EMC Mortgage Corporation. 3/ Wachovia Mortgage, FSB was merged with Wells Fargo Bank, NA, and the remaining Adjusted Cap stated above represents the amount previously paid to Wachovia Mortgage, FSB prior to such merger. 4/ Initial cap amount only includes FHA-HAMP. 5/ On 6/17/2010, Selene Financial, L.P. executed an Assignment and Assumption Agreement with CitiMortgage, Inc. (a copy of which is available on www.FinancialStability.gov) with respect to all rights and obligations for the transferred loan modifications. The amount transferred is realized as a cap adjustment and not as initial 6/ The amendment reflects a change in the legal name of the institution. As used in this table: "HAFA" means the Home Affordable foreclosure Alternatives program. "HPDP" means the Home Price Decline Protection program. "2MP" means th S the Second Lien Modification Program. d Li M difi ti P Page 41 of 46 Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets Hardest Hit Funds (HHF) Program Seller Transaction Type Purchase Purchase Purchase Purchase Purchase Purchase Purchase Purchase Purchase Purchase Pricing Investment Amount1 Mechanism $ $ $ $ $ $ $ $ $ $ $ 102,800,000 699,600,000 418,000,000 125,100,000 154,500,000 159,000,000 172,000,000 88,000,000 43,000,000 138,000,000 2,100,000,000 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Date Name of Institution City Reno Sacramento Tallahassee Phoenix Lansing Raleigh Columbus Salem Providence Columbia State NV CA FL AZ MI NC OH OR RI SC Investment Description Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program TOTAL INVESTMENT AMOUNT 6/23/2010 Nevada Affordable Housing Assistance Corporation 6/23/2010 CalHFA Mortgage Assistance Corporation 6/23/2010 Florida Housing Finance Corporation 6/23/2010 Arizona (Home) Foreclosure Prevention Funding Corporation 6/23/2010 Michigan Homeowner Assistance Nonprofit Housing Corporation 8/3/2010 8/3/2010 8/3/2010 8/3/2010 8/3/2010 North Carolina Housing Finance Agency Ohio Homeowner Assistance LLC Oregon Affordable Housing Assistance Corporation Rhode Island Housing and Mortgage Finance Corporation SC Housing Corp 1/ The purchase will be incrementally funded up to the investment amount. Page 42 of 46 SMALL BUSINESS AND COMMUNITY LENDING INITIATIVE SBA 7a Securities Purchase Program Purchase Details 1 Settlement Details Purchase Face Amount 3 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 4,070,000 7,617,617 8,030,000 23,500,000 8,900,014 10,751,382 12,898,996 8,744,333 8,417,817 17,119,972 34,441,059 28,209,085 6,000,000 7,000,000 15,000,000 3,000,000 10,000,000 9,000,000 5,000,000 10,000,000 9,000,000 9,000,000 6,000,000 261,700,275 TBA or Pricing Mechanism 107.75 109 108.875 110.502 107.5 106.806 109.42 110.798 110.125 109.553 110.785 112.028 106.625 108.5625 111.875 108.4375 106.75 110.125 110 110.75 110.5 112.5 105.875 PMF 3 Final Disposition Senior Security Proceeds $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 4 Investment Amount Settlement Date 3/24/2010 3/24/2010 3/24/2010 5/28/2010 4/30/2010 6/30/2010 6/30/2010 6/30/2010 7/30/2010 7/30/2010 8/30/2010 8/30/2010 9/30/2010 9/30/2010 9/30/2010 9/30/2010 10/29/2010 9/30/2010 10/29/2010 10/29/2010 9/29/2010 10/29/2010 11/30/2010 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 2, 3 TBA or PMF TBA* TBA* TBA* TBA* TBA* TBA* TBA* TBA* TBA* TBA* TBA* 3 Date 3/19/2010 3/19/2010 3/19/2010 4/8/2010 4/8/2010 5/11/2010 5/11/2010 5/11/2010 5/25/2010 5/25/2010 6/17/2010 6/17/2010 7/14/2010 7/14/2010 7/14/2010 7/29/2010 7/29/2010 8/17/2010 8/17/2010 8/17/2010 8/31/2010 8/31/2010 8/31/2010 Investment Description Floating Rate SBA 7a security due 2025 Floating Rate SBA 7a security due 2022 Floating Rate SBA 7a security due 2022 Floating Rate SBA 7a security due 2034 Floating Rate SBA 7a security due 2016 Floating Rate SBA 7a security due 2020 Floating Rate SBA 7a security due 2035 Floating Rate SBA 7a security due 2033 Floating Rate SBA 7a security due 2029 Floating Rate SBA 7a security due 2033 Floating Rate SBA 7a security due 2020 Floating Rate SBA 7a security due 2034 Floating Rate SBA 7a security due 2020 Floating Rate SBA 7a security due 2025 Floating Rate SBA 7a security due 2034 Floating Rate SBA 7a security due 2017 Floating Rate SBA 7a security due 2034 Floating Rate SBA 7a security due 2020 Floating Rate SBA 7a security due 2019 Floating Rate SBA 7a security due 2020 Floating Rate SBA 7a security due 2020 Floating Rate SBA 7a security due 2025 Floating Rate SBA 7a security due 2020 Total Purchase Face Amount Trade Date Life-to-date Principal Received 1 Current Face Amount Disposition Amount 5 TBA TBA TBA TBA TBA TBA TBA TBA TBA TBA TBA 4,377,249 8,279,156 8,716,265 26,041,643 9,598,523 11,511,052 14,151,229 9,717,173 9,294,363 18,801,712 38,273,995 31,693,810 6,412,363 7,618,124 16,829,583 3,263,577 10,695,743 9,941,156 5,516,139 11,107,744 9,973,952 10,152,363 6,364,946 288,331,861 288 331 861 * 2,184 4,130 4,348 12,983 4,783 5,741 7,057 4,844 4,635 9,377 19,077 15,801 3,198 3,799 8,390 1,626 5,337 4,955 2,750 5,537 4,972 5,062 3,176 Total Senior Security Proceeds $ 143,761 143 761 * Total Disposition Proceeds $ - TOTAL INVESTMENT AMOUNT * Subject to adjustment 1/ The amortizing principal and interest payments are reported on the monthly Dividends and Interest Report available at www.FinancialStability.gov. 2/ Investment Amount is stated after giving effect to factor and, if applicable, the purchase of accrued principal and interest. 3/ If a purchase is listed as TBA, or To-Be-Announced, the underlying loans in the SBA Pool have yet to come to market, and the TBA pricing mechanism, purchase face amount, investment amount and senior security proceeds will be adjusted within the variance permitted under the program terms. If a purchase is listed as PMF, or Prior-Month-Factor, the trade was made prior to the applicable month's factor being published and the SBA 7a security and senior security are priced according to the prior-month's factor. The PMF investment amount and senior security proceeds will be adjusted after publication of the applicable month's factor (on or about the 11th business day of each month). 4/ In order to satisfy the requirements under Section 113 of the Emergency Economic Stabilization Act of 2008, Treasury will acquire a senior indebtedness instrument (a Senior Security) from the seller of each respective SBA 7a Security. Each Senior Security will (i) have an aggregate principal amount equal to the product of (A) 0.05% and (B) the Investment Amount (excluding accrued interest) paid by Treasury for the respective SBA 7a Security, and (ii) at the option of the respective seller, may be redeemed at par value immediately upon issuance, or remain outstanding with the terms and conditions as set forth in the Master Purchase Agreement. 5/ Disposition Amount is stated after giving effect, if applicable, to sale of accrued principal and interest. Page 43 of 46 U.S. Treasury Department Office of Financial Stability Troubled Asset Relief Program Projected Costs and Liabilities [Section 105(a)(3)(E)] For Period Ending August 31, 2010 Type of Expense/Liability None Amount Note: Treasury interprets this reporting requirement as applicable to costs and liabilities related to insurance contracts entered into under the provisions of section 102 of the EESA; and the single insurance contract with Citigroup was terminated on December 23, 2009. U.S. Treasury Department Office of Financial Stability Troubled Asset Relief Program Programmatic Operating Expenses [Section 105(a)(3)(F)] For Period Ending August 31, 2010 Type of Expense Compensation for financial agents and legal firms Amount $291,742,312 U.S. Treasury Department Office of Financial Stability Troubled Asset Relief Program Description of Vehicles Established [Section 105(a)(3)(H)] For Period Ending August 31, 2010 Date Vehicle None Description