Greeneville Federal Bank Cease and Desist

[Kandy Korn]

With word of GFB getting a Cease and Desist letter on July 1st are any banks in Greeneville going to survive?

Heritage had to take money from a friend of Bewley in Georgia but they are still writing off many bad loans.

GreenBank, well who knows what will come of that.

American Patriot have just been hanging on by a thread for the past couple of years. Word on the street is they will be closed down in the next few months without a buyout.

AJ Bank with their old money may be the most stable at this point. But will the supposed merger with Greeneville Federal happen and Brandon Hull be the new president of AJ once Bill Hickerson retires?

I would hate to be a banker in Greeneville, Tennessee right now!

[Wondering]

What does this mean? Without all of the legal talk what are they to stop doing?

[what]

can you post reliable information on this

[older guy]

Greeneville Federal is the soundest bank in Greeneville. They are strong.

[Even Older Guy]

what wrote:

can you post reliable information on this

www.calculatedriskblog.com In right hand column click on "July 16 8:27 a.m. Unofficial problem bank". When that page comes up, click on Unofficial problem bank list for July 15. When that page comes up, scroll down to Greeneville Federal Bank (they are in alphabetical order) and click on Cease and Desist. When I try to list the actual page it won't come up.

[FDIC]

News articles will run this week. The Federation's monkey business is about to be exposed.

[Stan]

Just Google Greeneville Federal Cease and Desist and you can read all 28 pages....the is public information, not gossip....Greeneville Federal is in real trouble....could the waves cause trouble for Andrew Johnson Bank?

[Stan]

www.ots.treas.gov/_files/enforcement/97727.pd...

[wow]

Should I get my money out of there?

[wow]

I guess it's FDIC protected but I don't trust them

[babygurl]

Even if its FDIC insured it could take months to get your money back to you. Just hope you don't need it anytime soon. Go to a big bank, Bank of America, they aren't going anywhere.

[Android]

After reading the document I don't understand what they did wrong other than not having enough capital. Other local banks have gotten similar warnings. What with the bad economy nobody has cash in their bank like they use to.

[Wondering]

Android wrote:

After reading the document I don't understand what they did wrong other than not having enough capital. Other local banks have gotten similar warnings. What with the bad economy nobody has cash in their bank like they use to.

I agree. Last night I tried reading the document, and I with all of the lawyer talk and lawyer format, I had trouble understanding what it was all about. I wish legal documents would be written in a less formated way so that they would be easier to understand. I seems to me that the document took 28 pages to say what could have been said in two pages.

[Wondering]

It seems to me.

[Tammy]

BB&T has the highest ratings of any bank in Greeneville.

[Brewski]

Tammy wrote:

BB&T has the highest ratings of any bank in Greeneville.

And their interest rates on any type of savings / cd / money market is among the lowest. Better to put your money under the mattress.

[really]

wow wrote:

Should I get my money out of there?

Na, it has happened to others in the past, but we didnt have topix

[Paul Revere]

you better be getting your money out and invest some of it by buying silver and gold coins/rounds. In a short time the american dollar wont be worth anything and then what? You will need something to buy and trade with.

[Smart]

FDIC insured means nothing will happen to your money. Usually doesn't take months either... Usually days if that. Many times a bank will close on Friday and be open with a new group on Monday.

[Sam]

I'll bet the boys at the Federation will be learning what the term "conflict of interest" means by the time the regulators finish with them.