Westamerica Bancorp repays TARP fund

Westamerica Bancorp repays TARP fund

There are 16 comments on the Marin Independent Journal story from Nov 18, 2009, titled Westamerica Bancorp repays TARP fund. In it, Marin Independent Journal reports that:

San Rafael's Westamerica Bancorporation said Wednesday it has bought back nearly 42,000 shares from the Treasury Department, completing its repayment of funds it received through the government's rescue program for banks.

Join the discussion below, or Read more at Marin Independent Journal.

Auntie War

San Rafael, CA

#1 Nov 18, 2009
I was extremely angry that my bank, WestAmerica, took TARP money. They did not need it. They have always been in sound financial shape. But like all other banks, GREED got a hold of of them and they did not want to miss out on a chance for some easy taxpayer cash. I will forever have a much lower opinion of WestAmerica Bank. I hate all f'ing banks and their greedy CEOs, like westAmerica's Mr. Payne in the Azz. Good, loyal, no-risk ustomers who have always played by the rules are getting totally shafted by excessive fees. All bank CEOs should be JAILED forthwith. Better yet, round 'em all up and drop them in the middle of Afghanistan & Iraq and bring our troops home.
Nick

San Rafael, CA

#2 Nov 18, 2009
Westamerica is a great bank, has friendly tellers, no lines and is an all round good company. We trust them with our money. This article just reinforces that decision.
Thankswab

Fairfield, CA

#3 Nov 21, 2010
As a WAB shareholder and customer I see now what the bank did with its tarp money and say thank you. It was a shrewd move to use the governments assistance to assist with the acquisition of otherwise FAILED county bank and thankfully keeping their depositors whole. Ultimately, it saved the taxpayers and FDIC millions of dollars. TARP was repayed with profit and WAB remains one of the strongest banks in the nation!
Auntie War wrote:
I was extremely angry that my bank, WestAmerica, took TARP money. They did not need it. They have always been in sound financial shape. But like all other banks, GREED got a hold of of them and they did not want to miss out on a chance for some easy taxpayer cash. I will forever have a much lower opinion of WestAmerica Bank. I hate all f'ing banks and their greedy CEOs, like westAmerica's Mr. Payne in the Azz. Good, loyal, no-risk ustomers who have always played by the rules are getting totally shafted by excessive fees. All bank CEOs should be JAILED forthwith. Better yet, round 'em all up and drop them in the middle of Afghanistan & Iraq and bring our troops home.
Nex Carmichael

San Anselmo, CA

#4 Nov 21, 2010
Auntie War wrote:
I was extremely angry that my bank, WestAmerica, took TARP money. They did not need it. They have always been in sound financial shape. But like all other banks, GREED got a hold of of them and they did not want to miss out on a chance for some easy taxpayer cash. I will forever have a much lower opinion of WestAmerica Bank. I hate all **** banks and their greedy CEOs, like westAmerica's Mr. Payne in the ****. Good, loyal, no-risk ustomers who have always played by the rules are getting totally shafted by excessive fees. All bank CEOs should be JAILED forthwith. Better yet, round 'em all up and drop them in the middle of Afghanistan & Iraq and bring our troops home.
Now we are getting somewhere. This is the opinion we all should have toward our banks. Since they ultimately all trickle up to one owner it follows that they are all the same institution. And ultimately they all are. The granddaddy of all the banks is our own Federal Reserve System and we know all about that don't we.

Debt free money printed by the people for the people is our only salvation. If we are ever to prosper again we need to get rid of the present system of fractional reserve banking and fiat money not backed by anything. Unlimited cash does increase liquidity but we can do without some liquidity for a little honest real capital. More than three sitting US presidents have been assassinated in office for messing around with what the worlds bankers did at Jekyll Island off the Georgia coast in 1913. Well you topix readers know all about it. At least you say you do. Or do you really?
Nex Carmichael

San Anselmo, CA

#5 Nov 21, 2010
Nick wrote:
Westamerica is a great bank, has friendly tellers, no lines and is an all round good company. We trust them with our money. This article just reinforces that decision.
These are not the attributes of a "good" bank. For crying out loud. The guy who is robbing you can smile directly at you while he pulls the trigger and you will go to your grave with a grin on your face while he puts the money he stole from you in his back pocket.

jesse

Novato, CA

#6 Nov 21, 2010
wab, was FORCED to take it....

the money, the PROFIT in the deal IS THE LOANING OF THE FRESHLY PRINTED MONEY....

THE FED made money by CREATING IT...

THE entire time from its inception to when its payed off does not matter....

it was that the money was created...

the ramming of that money into the system made the fed money just by creating it...
Nex Carmichael

San Anselmo, CA

#7 Nov 22, 2010
Thankswab wrote:
As a WAB shareholder and customer I see now what the bank did with its tarp money and say thank you. It was a shrewd move to use the governments assistance to assist with the acquisition of otherwise FAILED county bank and thankfully keeping their depositors whole. Ultimately, it saved the taxpayers and FDIC millions of dollars. TARP was repayed with profit and WAB remains one of the strongest banks in the nation!
<quoted text>
WAB may be a GOOD bank. I apologize for getting down on them. They may have been forced to take TARP funds, but they seem to have acted in the best interests of the people and the banks customers.

When it comes to talking about any bank I have a low opinion of them all. Go WAB, set an example for other banks.
Chris

Pasadena, CA

#8 Dec 22, 2010
Auntie War wrote:
I was extremely angry that my bank, WestAmerica, took TARP money. They did not need it. They have always been in sound financial shape. But like all other banks, GREED got a hold of of them and they did not want to miss out on a chance for some easy taxpayer cash. I will forever have a much lower opinion of WestAmerica Bank. I hate all f'ing banks and their greedy CEOs, like westAmerica's Mr. Payne in the Azz. Good, loyal, no-risk ustomers who have always played by the rules are getting totally shafted by excessive fees. All bank CEOs should be JAILED forthwith. Better yet, round 'em all up and drop them in the middle of Afghanistan & Iraq and bring our troops home.
This is pretty misguided. Banks did not have much choice in taking TARP funds. There was a lot of political pressure and regulatory pressure to take the funds. Further, TARP funds do not result in increased earnings or executive pay. If a company took TARP funds, they were actually restricted in compensation, so it actually hurt executive pay. As such, I'm not sure how taking tarp funds is representative of greed.
Nex Carmichael

San Anselmo, CA

#9 Dec 22, 2010
The greed of the bankers that printed that money and gave it away. That don't sound right does it? Cause how can giving away money be indicative of greed. Actually they didn't give it away. You and me paid or will pay interest on all of it. This is how the public is hornswoggled into thinking, hey the banks get free money! No money is free. Every dollar in existence and every tick on a ledger or account in electronic form comes from the Federal Reserve. The government requests it. The Fed delivers. Interest is added up, you and me pay for it. Forever. Ever hear of inflation? Why isn't the very same money worth as much as in the 50's? You weren't even born yet. This is how you and me pay for "our money".

Inflation is an unregulated tax on the people er tax cattle. Did I mention taxes?
Nex Carmichael

San Anselmo, CA

#10 Dec 22, 2010
Just search on inflation hidden tax

Educate yourself
new to this

San Anselmo, CA

#11 Dec 22, 2010
what ?
Jenny Houston

Oakland, CA

#12 Jan 13, 2013
Auntie War wrote:
I was extremely angry that my bank, WestAmerica, took TARP money. They did not need it. They have always been in sound financial shape. But like all other banks, GREED got a hold of of them and they did not want to miss out on a chance for some easy taxpayer cash. I will forever have a much lower opinion of WestAmerica Bank. I hate all f'ing banks and their greedy CEOs, like westAmerica's Mr. Payne in the Azz. Good, loyal, no-risk ustomers who have always played by the rules are getting totally shafted by excessive fees. All bank CEOs should be JAILED forthwith. Better yet, round 'em all up and drop them in the middle of Afghanistan & Iraq and bring our troops home.
I agree with Auntie, and, I would have expected something better from WAB. I have been a customer along with others in my family since 1979. I had praise for the bank because as I understand it, they did not fall for the cheating mortgage market schemes that sent us all into a tailspin. But they have jumped on the bad bank bandwagon, too. I am shocked. They are clearly cutting out their less wealthy customers, like myself, with ridiculous fees. In my view, almost all of our financial institutions are greedy, dishonest, ignoble and moving toward "SOCIAL MONSTERS".Why do the banks and other financial institutions think that they do not have to pay part of the costs of the trouble they got us into??? Inexcusable! Puzzles me. I am about to write Mr. Payne to complain of the way the bank is treating it's old customers. SHOCKING, DISRESPECTFUL AND JUST ANOTHER HOLE IN THE STRENGTH OF OUR SOCIETY. I AM DISGUSTED WITH ALL OF THEM, ESPECIALLY wab!

“Taste great in milk!”

Since: Aug 08

.

#13 Jan 13, 2013
new to this wrote:
what ?
Huh?

“Taste great in milk!”

Since: Aug 08

.

#14 Jan 13, 2013
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“DECEPTION = MOST POWERFUL ”

Since: Jul 11

POLITICAL FORCE ON THE PLANET

#15 Jan 20, 2013
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Since: Nov 12

Iligan City, Philippines

#16 Jan 21, 2013
nice thread. thanks for sharing that information. it was very informative.
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