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Genworth/InterBank Progresses, Still Needs TARP Move

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Genworth Financial, Richmond, Va., now has a definitive agreement to purchase InterBank, Maple Grove, Minn.

The transaction was first announced on Nov. 16. Among the conditions for the transaction continues to be the approval of Genworth to participate in the Troubled Asset Relief Program (TARP). InterBank is a subsidiary of Aurora Services Corp.

Aurora was represented by Sandler O’Neill & Partners  and the law firm of Patton Boggs . Terms of the deal were not disclosed.

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