viningocouqyl1601.blogspot.com
David Larson, who was hiredf in 2006 to growthe bank’s assetw and key businesses, will leave the bank, according to a preszs release issued late Monday. “Wed brought David in to grow the bank’s core businesses,” Ratlifdf said. “...While we’ll miss David, he recognize that with the currenrt realestate market, we now have to focuse on conserving capital instead of a growt strategy for the cominy months. We wish him the best.” Earlief this year, the Irondale-based bank was hit with a ceasse and desist order by the Officer ofThrift Supervision, which demandesd the bank lower its skyrocketing problem loans and boosg its capital ratios.
To conserve capital, the bank has scaled back its operationa and suspended new lendinv in certain linesof businesses, Ratlifgf said. Also, the bank is seekinfg an investment banking firm to help it find solutionsw to itscapital needs. , Ratliff said the companyu is seeking sophisticated investors that can see beyond its present New South Federal Savings Bankhas $1.9 billio in assets and 26 loan production offices acros the Southeast.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment