Lisa Roberts, of the marketing dept. at Home National Bank, stopped by Friday to answer questions about HNB and rumors that the Brown family, Roger and Trent, were no longer active directors of the bank.
NOT TRUE, says Lisa. Both are still on the board and involved in the operations of the bank. She reiterated that the recent management change was voluntarily done by bank owners/managers to develop a new strategy (doesn't want to reveal that to competitors) and to get through the tough times. She thinks tough times for banks and economy in general will last until 2012. (Hope not). The regulators did not force the management change, but had to sign off on it. Operations in Ark City remain the same and no jobs have been cut, she said again.
So ...... this did not make the newspaper, because there's really nothing to base the rumors on, but the blog seems a good place to air her statements so that it might shed some light on the subject.
Monday, April 19, 2010
Subscribe to:
Post Comments (Atom)
5 comments:
I'd have to say that asking for the resignation of board members, some who had signed a warning letter (in 1998)? Then taking control of the key management positions. Was probably more than providing new ideas!
It was a move to protect the deposits and the FDIC!
"The regulators did not force the management change, but had to sign off on it"
Read the enforcemnet letter. It will make more sense if you do. As for 2012, well, maybe it takes that long for HNB to get rid of it's toxic loans in AZ.
As for their strategy, who knows. Right now, it is to stop leaking money and keep the Feds from taking them over. As long as they are toxic, no other bank will buy them, which has been in Brown's plans for awhile. Their original goal was to make it a billion dollar bank, and then sell it off. They made it to 850 Million, and then the AZ market collapsed. If you look at their numbers, their toxic assets are more than their capital.
Sorry it should have been (in 2008!)
Can yo say gullible---Roger Brown is gone
This is so incredibly hilarious that this thread is still up after the Roger news. Haa, hahahaha.
Anything anyone from the bank says has lost all credibility. It's all damage control now. Wow.
Post a Comment