W. Va. Bank First to Cut All Bailout Ties

Summary


WASHINGTON -- A West Virginia bank has become the first to completely cut its ties to the federal government's $700 billion financial rescue program.

The Treasury Department said Friday that Centra Financial Holdings Inc. of Morgantown, W.Va., has given the government $750,000 to buy back warrants Treasury was holding that gave it an ownership share in the company.

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W. Va. Bank First to Cut All Bailout Ties

That transaction means Centra Financial has no...

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