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million in capital under the U.S. Treasury’s Capita Purchase Program, which is part of the Troubledf Asset ReliefProgram (TARP). Sunset Bank executivesx said Tuesday they will use the funds to make loands to businesses andhome “This gives us a chancse to enhance our already strongv capital ratio with a cushion so we are preparecd and ready to assist our customers in thesee troubled times,” said Robert Eastman, Sunset Bank’sd chairman and CEO. Eastman said terms of the agreemeng require the bank to pay backthe capital. Sunsetg Bank is a privately held bank that openeds in 1999 and is ownecd by a group oflocalo investors.
The Waukesha-based bank has $148 million in assetsw and employs 36 people atthree locations. Sunsey Bank posted net income of $150,000 in the firsf quarter, compared with net incomde of $107,000 a year The bank, like nearly all banks, has experiencede increases in delinquent loans inrecent quarters. However, Sunset said it maintains a well-capitalized position.
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