Local banks get federal aid

East West Bancorp, Nara Bancorp and Broadway Financial are all receiving capital infusions from the Treasury Department's Troubled Assets Relief Program. The Business Journal reports that East West will get $316 million, Nara $67 million and Broadway $9 million. These are not big numbers, and there is no indication that any of the three are in serious financial trouble - other than being constrained to lend money, the way most banks are these days. One institution not on the list - so far anyway - is Downey Financial, which has warned that it could be seized by regulators if it can't get an infusion of capital by the end of the year. Newport Beach-based Downey is struggling to stay afloat amid lots of defaults.


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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