Oregon Bancorp purchased a stake in Willamette Valley Bank held by the U.S. Department of Treasury since 2009.
The government’s $3.5 million investment in the local bank was part of the Troubled Asset Relief Program, better known as TARP.
TARP is best known for programs aimed at large banks. But to encourage lending during the recession, the federal government made preferred stock investments in smaller institutions.
Read more at The Statesman Journal.