Stock of Frontier Bank's parent firm keeps falling
A series of bad reports in the banking industry caused Frontier Financial Corp.'s stock to continue to fall on Thursday -- a day after it plunged more than 25 percent.
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#1 Feb 25, 2009
When did Pat Fahey move over to Frontier Bank? Fahey is a good commercial banker, but has little to no experience in real estate loans. He must have gotten the job based on what he did at Pacific Northwest Bank just before it was sold to Wells Fargo. But, before the merger he had basically completely shut down all consumer real estate lending and was having trouble managing the commercial real estate division. I am surprised that the Frontier board of directors thought that he had the experience to run a bank so dependent on real estate lending.
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