Stories Fri and today have a good look at how local banks fared in 2009 and first quarter this year. The info is all online and public record. Pretty much gives weight to the stories about Home National's problems, losing 56 million last year. But they apparently are back in the black in 2010, which suggest quite a turn around and might make a potential buyer/investor more interested.
Seems like the big question is in form will the institution end up. Will it split off into more than one bank, or will it liquidate parts and be much smaller, perhaps just a Kansas bank, as it started?
I don't have any idea, and know a little less than zero about how banks work. I do know that the loss of HNB's presence in Ark City would be hurtful to the town, considering the jobs it provides and community building role it plays. And I feel for the folks working there with the uncertainly hanging over them.
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7 comments:
Well its pretty evident that most all banks of any size got caught up to some degree in the Real Estate Bubble and Sub Prime Morgage.
However, most of the local banks it seems were more into bad Commercial loans!
As for HNB?
They will probably get broken up, acquired or be a smaller bank!
I think the real question of the day is - Is there any personal liability on the part of the board members or its owners?
If you follow the banking Industry? It needs to be noted that due to all the FDIC actions!
Even the small Community banks are having to pay hefty rates for FDIC insurance coverage!
Guess who's paying through those banks?
They (the Feds and the FDIC) thank you for your support!
Just another stealth tax!
If your not done with your coverage of the Banks. Then check into how they are showing a profit!
What departments/divisions are the profitable ones or made them money!
Not saying there is spin - just that it might be a good possibilty!
(It might make you dizzy!)
In response to the prior comment -the bank had an operating loss for 1st qtr 2010 -they showed a profit because they sold securities that had gains in them because of the decline in interest rates. The parent HNB has also signed a written aggreement with the Federal Reserve-The holding co
(HNB) shows that they are insolvent as of 3-31 in their latest public filing.
Maybe you should look at each banks OREO holdings vs their posted profits?
Get ready-- the suits are coming to town
Now that the suits showed up --maybe the Traveler will get off its duff and print the real story of a family of greed and reckless arrogance .
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