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phoggie_gw

I am in shock~~~FEDS took over!!!!

phoggie
15 years ago

I am in complete shock! I grew up in a small rural town (population about 900, if you counted all the dogs and cats). There was a family who founded this bank many, many years ago and it was always known to be a very "strong" bank. Since I feel "roots" there, I have always kept one of my checking accounts and some savings there (although it was under the $100,000 insured limit).

Well, the older generation of this family, wanted to cut back, hired a financial manager from another state and he made some very poor choices in loans and many defaulted...and now the FEDS have taken over. The fathers and grandfathers of this family would be turning over in their graves to know this has happened to their bank.

So it is not just the big banks that this is happening to...but I am so sorry for "my banking family" in my little hometown.

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