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  #1  
Old 01-07-2009, 12:10 PM
Jerry Bone Jr's Avatar
Jerry Bone Jr Jerry Bone Jr is offline
 
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Default Silver Falls Bank to be monitored by FDIC

http://www.statesmanjournal.com/apps...=2009901070395
Quote:
Silver Falls Bank, which has branches in Silverton, Salem and Oregon City, has been accused of operating with inadequate capital, having a large number of "poor-quality" loans and engaging in "unsatisfactory" lending and collection practices.
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  #2  
Old 01-07-2009, 12:13 PM
Jerry Bone Jr's Avatar
Jerry Bone Jr Jerry Bone Jr is offline
 
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http://community.statesmanjournal.co...hat.php?id=109
Quote:
Silver Falls Bank President and Chief Executive Officer Stephen Way will answer questions from StatesmanJournal.com readers, Thursday at noon.
  #3  
Old 01-07-2009, 05:11 PM
Oregon Doug Oregon Doug is offline
 
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"The order, dated Nov. 24, notes the termination of an employee who received a bonus based on total dollar amount of loans generated. Investigators allege the employee acted without consideration of the risk involved with each loan."

And the beat goes on.....stay tuned for more good news ('specially you folk down there in the state of Jefferson.)

Oregon Doug
  #4  
Old 01-07-2009, 07:45 PM
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Roscoeman Roscoeman is offline
 
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Quote:
Originally Posted by Oregon Doug View Post
"The order, dated Nov. 24, notes the termination of an employee who received a bonus based on total dollar amount of loans generated. Investigators allege the employee acted without consideration of the risk involved with each loan."

And the beat goes on.....stay tuned for more good news ('specially you folk down there in the state of Jefferson.)

Oregon Doug
Ok Doug, what do you know about?

Inquiring minds want to know?
  #5  
Old 01-09-2009, 12:29 PM
Oregon Doug Oregon Doug is offline
 
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Originally Posted by Roscoeman View Post
Ok Doug, what do you know about?

Inquiring minds want to know?
It ain't been made public yet........So, "I know nothing" Sgt. Schultz.

Oregon Doug
  #6  
Old 01-10-2009, 12:12 PM
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Roscoeman Roscoeman is offline
 
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Well, when it is made public I am sure you will let us know!
  #7  
Old 02-14-2009, 11:44 AM
Oregon Doug Oregon Doug is offline
 
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Originally Posted by Roscoeman View Post
Well, when it is made public I am sure you will let us know!
I got it wrong - it turned out to not be the one I was thinking about down in Jefferson State after all. Sorry that you guys were beat out by northern OR in the great bank closing race. It's public now....

"Washington Trust Bank will assume the deposits of Pinnacle Bank. Pinnacle's sole branch will reopen as a Washington Trust Bank branch on Tuesday. In addition to assuming all of the deposits, including those from brokers, Washington Trust also agreed to buy $72 million in assets at a discount of $7.6 million.

Pinnacle is the first bank in Oregon to fail since 1991."

Will there be more, soon?

Oregon Doug
  #8  
Old 02-21-2009, 04:09 AM
Tom Barclay Tom Barclay is offline
 
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Silver Falls Bank is gone.

http://www.statesmanjournal.com/arti...NTPAGECAROUSEL
  #9  
Old 02-21-2009, 12:49 PM
Oregon Doug Oregon Doug is offline
 
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So, the money has washed over the falls and left the stockholders up the creek.....another one done gone.

Oregon Doug
  #10  
Old 02-22-2009, 08:42 PM
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Jerry Bone Jr Jerry Bone Jr is offline
 
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Default

http://www.fdic.gov/bank/individual/...lverfalls.html
http://www.fdic.gov/news/news/press/2009/pr09024.html
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