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#1691166 - 04/20/12 06:28 PM Is there a way to find out...
mhemrich Offline
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Joined: Feb 2010
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if a bank is trying to be sold?

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#1691183 - 04/20/12 06:48 PM Re: Is there a way to find out... mhemrich
Pale Rider Offline
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under the Lone Star
I don't think so. Other banks interested or brokers working on their behalf are sworn to confidentiality. This is not the kind of info the bank would voluntarily put out there....
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#1691186 - 04/20/12 06:53 PM Re: Is there a way to find out... mhemrich
waldensouth Offline
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FINALLY ABOVE the gnat line
If its your bank - keep your eyes and ears open. There will be strangers wandering around with no clear explanation of who they are - loan files will be pulled and taken to these strangers for review.....You may think they are auditors or examiners. They aren't allowed to talk with the staff.
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#1691189 - 04/20/12 06:56 PM Re: Is there a way to find out... mhemrich
manimal Offline
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manimal
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^^^ What waldensouth said. Also extra board and senior management meetings.
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#1691197 - 04/20/12 07:04 PM Re: Is there a way to find out... mhemrich
renniks Offline
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renniks
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New England
At the last bank I worked for that was "on the market" the dead give-away was the Senior Commercial Lender and the Loan Review Manager pulling loan files in the vault in the basement. Neither had ever been there before!

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#1691252 - 04/20/12 07:45 PM Re: Is there a way to find out... mhemrich
edAudit Offline
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edAudit
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You are here
If you are large enough it will be in the newspapers before you find out about it.
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#1691256 - 04/20/12 07:52 PM Re: Is there a way to find out... mhemrich
mhemrich Offline
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Joined: Feb 2010
Posts: 5
Thank you. Our biggest concern is that they are laying off many high paid employees that have been here a long time. Those people are telling our clients about it, and they are coming in and telling us. I am at a remote branch, so we don't see anything out of the norm.

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#1691286 - 04/20/12 08:16 PM Re: Is there a way to find out... mhemrich
waldensouth Offline
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They haven't announced a RIF? Unless it was a condition of the sale, I don't understand that. Normally you would keep your staff and let the purchasing bank pay severance.
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"Once you learn to read, you will be forever free."

- Frederick Douglass




My Opinion Only.

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#1691360 - 04/21/12 02:18 PM Re: Is there a way to find out... mhemrich
rlcarey Offline
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rlcarey
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Galveston, TX
I would be paying close attention to your financials. If the bank is in good shape, they are probably setting it up for sale at a higher price by boosting income. If the bank is not in good shape, it my be a last ditch effort to reduce expenses and raise capital.
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