Truth

Mount Sterling, KY

#21 Nov 14, 2012
Madison bank's problems started after bill and chuck left . Tom Hawkins and David pigg also left. Merwyn Jackson resigned from the board. All these people left because they believed in bill. Since then the place has gone into a nose dive cause no one wants to work for those people. Most of the order deals with the boards inability to hire management. After these people left they hired an alcoholic, a guy with a brain tumor, a prostitute, and their last president came to work two days a week. I worked at the bank when it first opened and it was a great place and took pride in servicing its customers.
Knows

Mount Sterling, KY

#22 Nov 14, 2012
Just wondering wrote:
What did bill and chuck do
bill and Chuck did nothing wrong!
Knows

Mount Sterling, KY

#23 Nov 14, 2012
The current board including chairman mike eaves is the biggest bunch of buffoons I have ever seen. They can't get anyone to work for them. The shareholders asked mike eaves to resign but he has refused.
Needs to resign

Tucker, GA

#24 Nov 14, 2012
I guess don Snyder is trying to do for Madison bank what he did for begley drugs!
Former employee

Tucker, GA

#25 Nov 14, 2012
Just wondering wrote:
What did bill and chuck do
bill cared about his customers enough to make employees answer phones and work 40 hours a week. He did complain about large legal fees. Guess that didn't sit we'll with mr eaves
Customer

Mount Sterling, KY

#26 Nov 14, 2012
It's a shame cause that used to be a great bank when Bill, Chuck, Tommy and David were there.
Geez

Mount Sterling, KY

#27 Nov 14, 2012
tell me wrote:
<quoted text>
Chuck did nothing that I know of. Mr Walters did some shady business and got himself in a bind:)
that is absolutely untrue and shame on you for spreading rumors. Put up or shut up as they say!
Yeah

Mount Sterling, KY

#28 Nov 14, 2012
I had a friend who had a loan from Madison, she had always been a customer of Bill Walters. The current loan staff would not renew the note even though she had never been a day late and had excellent credit. After several attempts to renew.(They would always tell her they were working on it) this went on for 6 months and it was beginning to ruin her credit. She finally called Bill Walters, who went down to the bank with her and shamed them into doing the right thing. Sooo anyone who claims Bill did something wrong is probably a disgruntled employee who was fired for being incompetent and lazy!
Call them

Mount Sterling, KY

#29 Nov 14, 2012
Yeah wrote:
I had a friend who had a loan from Madison, she had always been a customer of Bill Walters. The current loan staff would not renew the note even though she had never been a day late and had excellent credit. After several attempts to renew.(They would always tell her they were working on it) this went on for 6 months and it was beginning to ruin her credit. She finally called Bill Walters, who went down to the bank with her and shamed them into doing the right thing. Sooo anyone who claims Bill did something wrong is probably a disgruntled employee who was fired for being incompetent and lazy!
These are the kinds of things that should be reported!
Yeah

Mount Sterling, KY

#30 Nov 14, 2012
I also heard one of their presidents, bill white, pulled out a gun and laid it on his desk when two customers came into see them. They weren't irate or anything they just wanted to do business! Idiots!
hogs

Richmond, KY

#31 Nov 14, 2012
what's up with all the over weight women at Madison Bank. maybe they need a fitness center.
FYI

Lexington, KY

#32 Nov 14, 2012
That bank is pain! Every time I deposit a check they will not let me take so much out of the check and deposit the rest. I have to put all of it in and then write out a another slip for a withdraw, WTF! I have accounts at 3 other banks and do not have to go through any extra steps to get my money out.
Opinion

Richmond, KY

#33 Nov 14, 2012
I have known Bill Walters and Merwyn Jackson for many years. Bill started in banking when he was very young and worked to build Madison Bank into a successful institution. Mr. Jackson is a fine man that has lived an honorable life. In my opinion the down fall of this institution was when Mike Eaves became a part of it. Nothing has ever been the same. I am sure Mr. Eaves thinks he can run a bank because many folks think they have multiple talents but the fact is he should have stayed with what he knew. This bank has not been the same and is now held in low regard. I am sorry for what I am sure has been a big disappointment to many people but most especially the ones that built it from the ground up.
Caution

United States

#34 Nov 19, 2012
FYI wrote:
That bank is pain! Every time I deposit a check they will not let me take so much out of the check and deposit the rest. I have to put all of it in and then write out a another slip for a withdraw, WTF! I have accounts at 3 other banks and do not have to go through any extra steps to get my money out.
Cash, then deposit will solve that problem!
Show Cause

Tucker, GA

#35 Apr 23, 2013
Madison Bank isn't under a Regulatory Order for no reason. Mr. Walters and many of his staff are also not there for a reason. 2+2 generally equals 4.

Under a Regulatory Order the bank is extremely limited in renewing current loans or bringing in new loans. The loans must be clean and without issue. When loans become harder to make and renew the banks income declines as they make the majority of their profit from loans. That may explain the reason for fees being added to checking accounts. The bank has to be profitable in order to pay salaries, benefits, interest, utilities, etc.

Also, the Board members don't make loans. They simply oversee the approval process and hire management. The Board can approve or decline loans but depend on loan officers to "produce" good loan options for the bank.

It should also be understood that when a bank is under a Regulatory Order all upper management hires must be approved by the FDIC or OCC. this in turn makes the hiring process much longer. It also limits who wants to work for a "troubled" bank. Who wants to leave a good job for a "troubled" job? Unless of course you're offered a lot more money! But a troubled bank with limited profit under a Regulatory Order typically cannot pay BIG salaries which once again limits the ability to hire "good" management.

Use common sense before posting, please.
Customer

Georgetown, KY

#36 Apr 24, 2013
Show Cause wrote:
Madison Bank isn't under a Regulatory Order for no reason. Mr. Walters and many of his staff are also not there for a reason. 2+2 generally equals 4.
Under a Regulatory Order the bank is extremely limited in renewing current loans or bringing in new loans. The loans must be clean and without issue. When loans become harder to make and renew the banks income declines as they make the majority of their profit from loans. That may explain the reason for fees being added to checking accounts. The bank has to be profitable in order to pay salaries, benefits, interest, utilities, etc.
Also, the Board members don't make loans. They simply oversee the approval process and hire management. The Board can approve or decline loans but depend on loan officers to "produce" good loan options for the bank.
It should also be understood that when a bank is under a Regulatory Order all upper management hires must be approved by the FDIC or OCC. this in turn makes the hiring process much longer. It also limits who wants to work for a "troubled" bank. Who wants to leave a good job for a "troubled" job? Unless of course you're offered a lot more money! But a troubled bank with limited profit under a Regulatory Order typically cannot pay BIG salaries which once again limits the ability to hire "good" management.
Use common sense before posting, please.
I think you know nothing you are talking about. Unless you were in the bank, you have no business commenting on Mr Walters. The board made an intolerable situation by their day to day managing the smallest decisions. There was a female employee who became enamored of certain board members and when certain loan officers "made a mistake" she got to report it to the board member directly giving her the attention she wanted. Madison Bank was in good condition dispite the economy which put several banks in the state under cease and desist orders C& D's are not public so the community is unaware the bank is in trouble. The order against Madison was a minor issue that could have been corrected had the board not over reacted. The board has had a terrible time finding some loan officers to work for them because of their own behavior and because Mr Walters is very well respected in banking circles I think you are the one who needs to use common sense before posting.
Show Cause

Tucker, GA

#37 Apr 24, 2013
Customer wrote:
<quoted text>
I think you know nothing you are talking about. Unless you were in the bank, you have no business commenting on Mr Walters. The board made an intolerable situation by their day to day managing the smallest decisions. There was a female employee who became enamored of certain board members and when certain loan officers "made a mistake" she got to report it to the board member directly giving her the attention she wanted. Madison Bank was in good condition dispite the economy which put several banks in the state under cease and desist orders C& D's are not public so the community is unaware the bank is in trouble. The order against Madison was a minor issue that could have been corrected had the board not over reacted. The board has had a terrible time finding some loan officers to work for them because of their own behavior and because Mr Walters is very well respected in banking circles I think you are the one who needs to use common sense before posting.
Obviously facts aren't really important to you.

1. All Cease & Desist Orders ARE public records. www.fdic.gov

2. Is Mr. Walters currently employed by a bank or financial institution? No.

3. Are any current Board members facing Civil Money penalties? No.

I'm happy to share the facts. Have a nice day!
Sooo

Winchester, KY

#38 Apr 24, 2013
Show Cause wrote:
<quoted text>
Obviously facts aren't really important to you.
1. All Cease & Desist Orders ARE public records. www.fdic.gov
2. Is Mr. Walters currently employed by a bank or financial institution? No.
3. Are any current Board members facing Civil Money penalties? No.
I'm happy to share the facts. Have a nice day!
I know nothing of any of this but I do know that it appears to be a poorly run/operated institution. I have an account there and any time I go thru the drive in window the staff is slow, rude, and go out of their way to make you wait. The sweet girl with the speech issue and the young chubby guy were the exceptions. The other women were/are deplorable to customers
yep

Richmond, KY

#39 Apr 24, 2013
Sooo wrote:
<quoted text>
I know nothing of any of this but I do know that it appears to be a poorly run/operated institution. I have an account there and any time I go thru the drive in window the staff is slow, rude, and go out of their way to make you wait. The sweet girl with the speech issue and the young chubby guy were the exceptions. The other women were/are deplorable to customers
I left there last year and have never been happier banking at Park Federal Credit Union. Madison Bank is horrible!
Show Cause

Tucker, GA

#40 Apr 24, 2013
Sooo wrote:
<quoted text>
I know nothing of any of this but I do know that it appears to be a poorly run/operated institution. I have an account there and any time I go thru the drive in window the staff is slow, rude, and go out of their way to make you wait. The sweet girl with the speech issue and the young chubby guy were the exceptions. The other women were/are deplorable to customers
One good thing about Richmond is that there are several banks to choose from so finding one that appreciates your business shouldn't be a problem. I would advise you to talk with the Branch Manager at Madison and let them know of your dissatisfaction if you stay there. There's no excuse for poor customer service, especially at a bank that seems to be struggling.

Best of luck with your decision!

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