Bank of Marin to return $28 million in federal bailout money

San Rafael-based Bank of Marin Bancorp is seeking to return a $28 million capital infusion that it was awarded by the federal government in December as part of the government's effort to ease the credit freeze ... Full Story
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Since: Mar 08

Novato, CA

#1 Mar 16, 2009
Maybe I will move my banking to Bank of Marin.

They were smart enough to realize there is no free lunch.
Purity

Novato, CA

#3 Mar 16, 2009
Well, at least one bank has integrity. Thank you Bank of Marin. I'm transferring my accounts to you tomorrow!
TREEMASTERS

San Rafael, CA

#4 Mar 16, 2009
Bank of Marin, solid bank, great service, well run. no wonder they do not need the money
Are you kidding me

San Rafael, CA

#5 Mar 16, 2009
They returned the money because they don't want to answer to the Treasury for excessive executive pay
Red Diaper

Burlingame, CA

#6 Mar 16, 2009
Are you kidding me wrote:
They returned the money because they don't want to answer to the Treasury for excessive executive pay
Hit it right on the head !!

“Avoid Taxes, Don't Work !”

Since: Jul 08

San Jose, CA

#7 Mar 16, 2009
Let Citicorp fail. Bank with TARP free funds. That's my plan. Goodbye Wamu
the executives

Gilroy, CA

#8 Mar 16, 2009
Why did the bank ask for the money in the first place if they didn't need it? Because they thought they would get it free with no strings attached. I agree with "Are you kidding me".
Red Diaper

Burlingame, CA

#9 Mar 16, 2009
the executives wrote:
Why did the bank ask for the money in the first place if they didn't need it? Because they thought they would get it free with no strings attached. I agree with "Are you kidding me".
I'm not sure they do ask for it.Someone with more knowledge about this subject [;ease chime in , but are they not alocated a certain amount weather they want it or not ?

Since: Mar 08

Novato, CA

#10 Mar 17, 2009
They didn't ask for it and neither did Wells Fargo.

Many banks did not want to get involved in the sub-prime lending required by the Community Reinvestment Act. Acorn sued banks for NOT making risky loans. Guess who the lawyer was in one of these law suits?

Acorn is getting many millions of dollars from the Spendulous Bill......do you think there is a connection?
Rene

United States

#11 Mar 17, 2009
it was pure incompetencec of the board to accept the bailout in the first place... luckily they have away out by returning the money

the spin machine is working hard but the board made a bad move but nobody will admit that
10 year account

San Mateo, CA

#12 Mar 17, 2009
Bank of Marin for 10 years here - ALWAYS get genuine customer service and excellent banking services. Just yesterday I was in the Corte Madera branch after an absence of almost a year (banking at the BofM in Novato these days) and they recognized me and caught up with chit-chat. In this day and age it's nice to see there is still a bank that gets it. Good on you Bank of Marin for turning up your nose on the Feds.
My Two Cents

San Rafael, CA

#13 Mar 17, 2009
I agree. Bank of Marin should NEVER have taken in the first place if they did not need it. They thought it was gonna be easy money with no strings attached. It was TOTAL GREED, pure and simple. ALL BANKERS ARE SLEAZEBAGS & CRIMINALS.
paranoid

Oakland, CA

#14 Mar 17, 2009
Have to say that while I am glad banks are giving OUR money back, they are only doing this because it had strings attached.

They don't want to let the government check up on them, I would put a large bet that there are things they do and people they pay that they don't want the government to know about.

Now if the money from their customers (since it is our tax money) was simply given with no oversight or strings I would be they would have already spent the money and rewarded all the top execs.

Greed is the name of the game and just because the banks and auto industry is broke doesn't mean they aren't as greedy as ever.

Since: Mar 09

San Lorenzo, CA

#15 Mar 17, 2009
Other news reports from around the nation have indicated that some of these banks (including TCF in MN) were basically forced by the federal gov't to take these funds, despite indicating they didn't need it. I'm sure many bankers are criminals, etc. per the posts above, but I'm even more sure that the federal gov't is run by clueless morons who could not possibly solve a problem umder any circumstances.
Will

San Jose, CA

#16 Mar 17, 2009
Want to have fun? Go into the Strawberry branch and ask to do something simple like change a $100 bill. If you don't have an account there, they will treat you like a criminal. Really insulting. I went in there at noon one day to do just that as the Village parking lot was a zoo so I couldn't get near Wells. What a mistake. I was in a completely good frame of mind and still found them horrible snobs. It's an elitist bank and I'm afraid "Paranoid" is dead on.
Will

San Jose, CA

#17 Mar 17, 2009
... and that should read"Sausalito", not "Sunnyvale.(Monitor, please change)
Terri Alvillar

Santa Clara, CA

#18 Mar 17, 2009
Bank of Marin should return the millions of dollars of loans and interest it has looted from Marin's elderly population via lawyers and professional fiduciaries. Jesse James had a gun; all they need is a pen.
Terri Alvillar

Santa Clara, CA

#19 Mar 17, 2009
The only reason Bank of Marin has succeeded in ripping off the estates of the elderly in Marin is because nobody is looking over its shoulder. It makes sense they would return the money - why would a successful (on paper) bank get the money anyway? Criminals.

“Avoid Taxes, Don't Work !”

Since: Jul 08

San Jose, CA

#20 Mar 17, 2009
My Two Cents wrote:
I agree. Bank of Marin should NEVER have taken in the first place if they did not need it. They thought it was gonna be easy money with no strings attached. It was TOTAL GREED, pure and simple. ALL BANKERS ARE SLEAZEBAGS & CRIMINALS.
So do you have a loan ? A credit card ? a checking acouunt ? or do you trade beads and shells ?
Terri Alvillar

Santa Clara, CA

#21 Mar 17, 2009
In case anyone doesn't know about Bank of Marin's scam, here's what happens: Your elderly relative dies or gets dementia, Marin County Superior Court appoints a private professional conservator or trustee (especially when there is a dispute between the heirs), the conservator/trustee immediately takes a loan through Bank of Marin to pay fees for administration and attorneys fees UNTIL ALL THE EQUITY IN THE PROPERTY IS GONE. There is nothing left for the heirs by the time this machine is finished rolling - the case is dragged out to make sure all the equity goes for interest and payments on the loan, conservator/trustee fees and attorneys fees. I personally know of dozens of cases where this occurred in Marin County.

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