In 2012, the Wall Street Journal reported that 351 small banks in the United States were struggling to repay their loans under the government’s Troubled Asset Relief Program (TARP). For years, small banks, those with less than $1 billion worth of assets, have been steadily squeezed by larger banks’ ability to take advantage of new technology and regulations.
Pittsburgh-based TriState Capital Bank is not one of those banks. In October 2012, TriState announced that it had repaid its TARP loan in full, plus an added $4.5 million in dividends. Additionally, TriState reported that it had leveraged the TARP money into over $200 million in new loans. James F. Getz, TriState’s CEO and chairman, stated, “We used TARP money...to continue making solid loans when credit was limited.”
TriState Capital Bank was founded in 2007 by James F. Getz, A. William Schenck III, and Mark L. Sullivan with a little over $100 million. Thanks to its prudent investment strategies, TriState is no longer a small bank; by mid-2013, its assets totaled roughly $2.1 billion.
Pittsburgh-based TriState Capital Bank is not one of those banks. In October 2012, TriState announced that it had repaid its TARP loan in full, plus an added $4.5 million in dividends. Additionally, TriState reported that it had leveraged the TARP money into over $200 million in new loans. James F. Getz, TriState’s CEO and chairman, stated, “We used TARP money...to continue making solid loans when credit was limited.”
TriState Capital Bank was founded in 2007 by James F. Getz, A. William Schenck III, and Mark L. Sullivan with a little over $100 million. Thanks to its prudent investment strategies, TriState is no longer a small bank; by mid-2013, its assets totaled roughly $2.1 billion.