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Job layoffs as mortgage refinance boom slows

A recent spike in interest rates has caused a decline in refinancing activity, a drop-off that has curtailed a two-year refinancing wave that started in 2011 and led to the nation’s largest banks shedding thousands of mortgage jobs.

Bank of George shares sold to repay TARP

Bank of George is one of seven financial institutions nationwide to be included in priced auctions of preferred stock as the U.S. Department of Treasury winds down its remaining Troubled Asset Relief Program bank investments.