The Subchapter S Bank Association has requested that the Treasury Department consider amending its Capital Purchase Program announced October 14, 2008, in order to make the program available to the 2,500-plus banks and bank holding companies that have elected tax treatment under Subchapter S of the Internal Revenue Code, as well as the numerous other non-publicly traded community banks and bank holding companies across the country.  Please review the attached Press Release for further details.

We have also attached a copy of the letter written to Treasury Secretary Henry A. Paulson by the President of the Sub S Bank Association, Patrick J. Kennedy, Jr.

The Sub S Bank Association will continue to monitor developments of importance to Subchapter S banks and communicate updates to our membership accordingly.

Read the Press Release...

Read the Letter to Treasury Secretary Paulson...