It is clear to me that the most important asset a bank can have is trust. Cash in the vault and bricks and mortar are not the building blocks of such an institution. They are not what built this bank into a billion dollar enterprise over 150+ years. It was trust.

It is usually easy to have and it is easy to lose. It is very difficult and, it takes a very long time to regain if lost. It is what this bank needs, now. More than anything.

The personnel who caused the financial problems as well as the ones who supervised, lost the trust. Could they have regained it? Possibly. Did they even try? I don’t think they even knew it was gone. I don’t think they knew that anyone else knew what was really going on inside the brick and mortar. Maybe they thought their secrets were safe. Or maybe they just figured that they were above it all. Bonuses every year. . . Every year they gave themselves bonuses.

Trust. Do what is right. Fiduciary responsibility. Bank, shareholders, and staff before self. That is what we’re trying to do. We are trying to put things right. There are a couple hundred jobs at stake in this town. There are more at risk in other communities like ours.

If we have enough votes at the annual meeting, we can begin this year. Tell someone you know about this site. They might know a shareholder that will help by voting for the right changes.

13 comments on “Trust

  1. Read the press release. “Deposits totaled $917.3 million, down from $963.0 million in 2010, reflecting managed efforts to reduce deposit levels to positively impact capital ratios.” There’s no point in taking in deposits if there is low loan demand.

    • It’s really not that difficult or exciting for that matter. Banks that need deposits offer higher rates, banks that don’t need them lower rates.

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