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Borrowers in short supply: bank lending slows due to reduced demand.

Publication: San Diego Business Journal
Publication Date: 23-FEB-09 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Borrowers in short supply: bank lending slows due to reduced demand.(Troubled Asset Relief Program )

Article Excerpt
Local community banks receiving federal funds through Washington's controversial Troubled Asset Relief Program say they are making loans, but agree the economy has shrunk the pool of borrowers.

Responding to criticism of little oversight to the program, the federal Treasury Department released a report last week showing the 20 largest banks receiving TARP money reported minimal increases in their lending.

Locally, most banks grew their loan portfolios at a higher rate, but since the end of the year, lending is down, bankers say.

"The TARP money alone isn't going to stimulate lending," said Paul Rodeno, chief executive at Security Business Bank of San Diego, which obtained $5.8 million in TARP funds...

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