Atlanta Based Bank Fails - Shutdown by the FDIC

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  • DateDoc
    Outside looking in.
    • Feb 2005
    • 14243
    #1

    Atlanta Based Bank Fails - Shutdown by the FDIC

    SAN FRANCISCO (MarketWatch) -- Integrity Bank of Alpharetta, Ga., with $1.1 billion in assets and $974 million in deposits, was closed Friday by the Georgia Department of Banking and Finance and the Federal Deposit Insurance Corp. was named receiver. This marks the 10th U.S. bank failure so far this year. All deposit accounts have been transferred to Regions Bank of Birmingham, Ala. and depositors of Integrity Bank will automatically become depositors of Regions Bank for the full amount of their deposits. Regions Bank will pay a total premium of 1.012% for the failed bank's deposits and will purchase about $34.4 million of Integrity Bank's assets.

    10th bank to fail in 2008.

    http://www.marketwatch.com/news/stor...7D&siteid=bnbh
    Tags: None
    • notoldschool
      Confirmed User
      • Aug 2007
      • 5687
      #2
      as long as the people get their money back fuck em.
      No doubt one may quote history to support any cause, as the devil quotes scripture.
      -- Learned Hand

      http://www.bjpenn.com

        Comment

        • tony299
          lurker
          • Aug 2002
          • 57021
          #3
          I saw the title and my heart was in my throat.

            Comment

            • marketsmart
              HOMICIDAL TROLL KILLER
              • Dec 2004
              • 20419
              #4
              i love how the govt is shutting down banks and then just handing over the assets to whatever bank they see fit..

              this whole thing stinks...

                Comment

                • Jon Clark - BANNED FOR LIFE
                  North Coast Pimp
                  • Dec 2005
                  • 9395
                  #5
                  Originally posted by marketsmart
                  i love how the govt is shutting down banks and then just handing over the assets to whatever bank they see fit..

                  this whole thing stinks...
                  what he said...

                    Comment

                    • After Shock Media
                      It's coming look busy
                      • Mar 2001
                      • 35299
                      #6
                      Originally posted by marketsmart
                      i love how the govt is shutting down banks and then just handing over the assets to whatever bank they see fit..

                      this whole thing stinks...
                      Hey the bank paid a 10th of a percent premium to get the money. The public (people who had accounts) did not get fucked and all their money is ok. Just seems that the Government is trying to not have to fuck people with FDIC limits and shit.

                      Though at the same time it is obvious they are shuffling the deck at the top. I.E. more rich fucks are getting some great deals and making even more money.

                      [email protected] ICQ:135982156 AIM: Aftershockmed1a MSN: [email protected]

                        Comment

                        • Fatdog
                          Confirmed User
                          • Feb 2006
                          • 350
                          #7
                          this is a bad sign of more banks getting shut down.

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                            Comment

                            • DBS.US
                              Geo Cities
                              • Aug 2003
                              • 11842
                              #8
                              Run,,,,pull all your money out!
                              Have an unused domain? Make a Free Chaturbate White Label site and be making money tonight

                                Comment

                                • Agent 488
                                  Registered User
                                  • Feb 2006
                                  • 22511
                                  #9
                                  why didn't god intervene in this wacked out jesus bank?

                                  http://www.ajc.com/services/content/...xsvc=7&cxcat=6

                                  The Alpharetta-based bank, which opened its doors in 2000 with a Christian-centered philosophy, is the 10th U.S. bank to fail this year and the second Georgia institution to fail in the past 12 months.

                                  ...

                                  Integrity’s employees regularly prayed before meetings or in branch lobbies with customers, while the bank gave 10 percent of its net income to charities.

                                  “We felt if we prayed and obeyed God’s word and did what He asked, that He would help us be successful,” the bank’s founder, Steve Skow, told the Journal-Constitution in 2005.

                                  jeebus let me down on this one.

                                    Comment

                                    • Barefootsies
                                      Choice is an Illusion
                                      • Feb 2005
                                      • 42635
                                      #10
                                      Originally posted by marketsmart
                                      i love how the govt is shutting down banks and then just handing over the assets to whatever bank they see fit..

                                      this whole thing stinks...
                                      Cronies helping cronies amass more wealth.
                                      Should You Email Your Members?

                                      Link1 | Link2 | Link3

                                      Enough Said.

                                      "Would you rather live like a king for a year or like a prince forever?"

                                        Comment

                                        • tony299
                                          lurker
                                          • Aug 2002
                                          • 57021
                                          #11
                                          Originally posted by budsbabes
                                          why didn't god intervene in this wacked out jesus bank?

                                          http://www.ajc.com/services/content/...xsvc=7&cxcat=6

                                          The Alpharetta-based bank, which opened its doors in 2000 with a Christian-centered philosophy, is the 10th U.S. bank to fail this year and the second Georgia institution to fail in the past 12 months.

                                          ...

                                          Integrity?s employees regularly prayed before meetings or in branch lobbies with customers, while the bank gave 10 percent of its net income to charities.

                                          ?We felt if we prayed and obeyed God?s word and did what He asked, that He would help us be successful,? the bank?s founder, Steve Skow, told the Journal-Constitution in 2005.

                                          jeebus let me down on this one.
                                          they forgot what he did to the money lenders,it was the only time he really lost his cool.

                                            Comment

                                            • fatfoo
                                              ICQ:649699063
                                              • Mar 2003
                                              • 27763
                                              #12
                                              pfff haa ah 1.012% , that's nothing
                                              Send me an email: [email protected]

                                                Comment

                                                • JFK
                                                  FUBAR the ORIGINATOR
                                                  • Jan 2002
                                                  • 67369
                                                  #13
                                                  Originally posted by tony404
                                                  they forgot what he did to the money lenders,it was the only time he really lost his cool.
                                                  any pics ??

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                                                    Comment

                                                    • WiredGuy
                                                      Pounding Googlebot
                                                      • Aug 2002
                                                      • 34517
                                                      #14
                                                      Doesn't seem like anyone suffers in this case, all assets were transferred and they paid a tiny premium to acquire those assets. Seems like its better than a loss in any case.
                                                      WG
                                                      I play with Google.

                                                        Comment

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