May 28, 2009
Touchmark Bancshares Declines TARP Funding
Touchmark Bancshares, Inc., parent company of Touchmark National Bank, today announce that it has decided not to participate in the Department of the Treasury’s TARP Capital Purchase Program. Touchmark received preliminary approval from the Treasury Department on May 19, 2009.
“While we are grateful that the federal government is helping to stabilize the troubled financial sector, we are fortunate that we do not require any such assistance” said Bill Short, President & CEO of Touchmark Bancshares and Touchmark National Bank. “Touchmark is already amongst the strongest capitalized banks in the United States with 3/31/2009 risk based capital of 42% compared to a regulatory minimum of 10% for well-capitalized institutions.”
About Touchmark National Bank
Touchmark National Bank opened for business in January, 2008, after one of the largest and most successful community bank stock offerings in Georgia history through its parent company, Touchmark Bancshares, Inc. Touchmark has assets in excess of $85 million with offices in Norcross, Duluth and Doraville.
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