We received the following letter from Legacy Banks (which has a branch office in Whitehall), where they state they will not participate in the federal TARP bailout.
“You may have read in the most recent edition of Your Legacy newsletter that we received preliminary approval to participate in the U.S. Treasury Capital Purchase Program (CPP), a component of the Troubled Asset Repurchase Program (TARP). Since the newsletter was printed and distributed, we have made the decision NOT to participate in this Program. Our approval was based on our financial strength and strong capital position, and it is for those same reasons that we have decided to decline federal funds.”