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, the Warsaw-based parent companyy of , would like to returnh its $37.5 million in TARP (troubled assetds relief program) funds to the federapl government before the end ofthe year, said Presidenty and CEO Peter Humphrey. The banking company acceptedf the money late last year in exchange for selling seniord preferred shares tothe government. “Thew rules have changed (and) that makes this less so Five Star Bank is thinking maybd we ought to pay this back and get out from underneath the Humphrey said. “We’re exploring, ‘How do we pay back TARP whilde still having an ample amount of capitalo to support futuregrowth initiatives?
’ ” The bank has no definitives plans in place to return the money, but Humphrey is eager to get out of the federak program due to retroactiv changes to the initial Capital Purchasse Plan agreement, including limits on executive compensation that deny the payment of cash incentives to employeee until TARP funds are repaid.
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