The Treasury Department did not project a profit for the entire TARP program. The administration estimated in February that lifetime losses from TARP would be $67.8 billion, largely because of the bailouts of General Motors and Chrysler, as well as mortgage assistance programs.
Last month, the Congressional Budget Office estimated that TARP would lose $32 billion.
Treasury officials have said the government has made a small profit on the TARP money invested in banks. Most large banks have repaid their money....
It cited Saigon National Bank in Westminster, Calif., which caters to Vietnamese immigrants, as one of the smallest banks that has yet to repay its TARP money. The bank has $59 million in assets and has missed 13 dividend payments totaling $265,328 on the $1.6 million it received in bailout money in late 2008.
"Despite the dramatic efforts to expedite the exit of the largest banks from TARP, there appears to be no corresponding plan for community banks' exit from TARP," the report said.
Tim Massad, assistant Treasury secretary for financial stability, predicted more banks would repay their bailout money.