Asheville area banks adding a new par...

Asheville area banks adding a new partner

There are 7 comments on the Asheville Citizen-Times story from Jul 14, 2010, titled Asheville area banks adding a new partner. In it, Asheville Citizen-Times reports that:

HomeTrust Banking Partnership, a locally based group of community banks led by HomeTrust Bank, is getting another member.

Join the discussion below, or Read more at Asheville Citizen-Times.

HuhHuh

Boone, NC

#1 Jul 14, 2010
"He described the transaction as a merger 'where nobody loses a job.'"

HA! Good one.
james

AOL

#2 Jul 14, 2010
I have a bad feeling that this is going to end ugly.
anon

AOL

#3 Jul 14, 2010
They should be happy working for a small hometown bank instead of trying to get bigger and bigger until they are money grubbers like the big boys in Charlotte. I wonder how long it will be before they don't own any of the mortgages they write and they start charging a "fee" for every little service.

It's sad that these little hometown banks are selling out. I mean that. They better be careful what they wish for, they may not be deemed competent to manage their own institutions once they get large enough to attract serious money grubbing talent out of Charlotte.
Carol Egan

Morganton, NC

#4 Jul 14, 2010
anon wrote:
They should be happy working for a small hometown bank instead of trying to get bigger and bigger until they are money grubbers like the big boys in Charlotte. I wonder how long it will be before they don't own any of the mortgages they write and they start charging a "fee" for every little service.
It's sad that these little hometown banks are selling out. I mean that. They better be careful what they wish for, they may not be deemed competent to manage their own institutions once they get large enough to attract serious money grubbing talent out of Charlotte.
Very few banks hold their mortgages. It's likely they sell theirs too.
Bubba

Angier, NC

#5 Jul 14, 2010
I'm with James on this one.I've got a bad feeling on this one also.Could it be that Obama has mustered up some more bailout funds and he's headed back to Asheville.Tell us it's not so.
big Ed

United States

#6 Jul 15, 2010
I've always kept my money in the S&L because it paid better interest than the big banks, and I always knew the people running the place were good people.

I don't believe bigger is better and I'm not sure that I won't move my deposits to another S&L. I will watching closely and asking lots of questions starting with, How is it going to save any money and improve things if there will be no staff changes? Are you going to pay everybody less or something?
Louie

United States

#7 Jul 15, 2010
Questions:
1. Will Cherryville Federal belong to Home Trust?
2. With two boards of directors, Which board will have final authority?
3. What is being paid for the Cherryville bank?
4. Who gets the money as it's a mutual S&L from my understanding?
5. Do depositors have any say in joining this partnership?
6. What are the salaries of the executives involved?
7. Will those salaries go up or down after Cherryville Federal joins the partnership?
8. Are there any bonuses involved? If so, who gets what?
9. Are there any retirement packages in place for the existing executives? It's common to see a string of retirements after a merger. Again, who get's what?
Just a few questions that really should be answered.

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