Annapolis Bancorp repays TARP loan in full

Annapolis Bancorp on Wednesday said it repaid its remaining obligation to the U.S. Treasury under the TARP program.

The parent company of BankAnnapolis paid $4.07 million to buy back 4,076 preferred shares issued to the Treasury Department. In April, the company redeemed half of $8.15 million it received under the Treasury's Capital Purchase Program. The bank said at the time it planned to repay the remainder by January 2014.