Five more banks closed by FDIC.

Listed with closing dates of July 20th, five more banks were closed last Friday.  That’s a lot of banks in one weekend. As someone else remarked, it seems that the FDIC’s appetite for closing failing banks has not waned.

6 comments on “Five more banks closed by FDIC.

  1. Dexter Brigham, director of Festival 56 in Princeton, is advertising on the radio (WZOE), touting Citizens Bank – because, as a community bank, they contribute to Dexter’s Princeton theater enterprise. What Dexter, and the bank, fail to acknowledge is that those contributions, and all the others, come out of the earnings (or at the expense of additional losses) of the stockholders – not the bank’s directors, officers, or employees, etc. It’s a way for the bank and it’s officers and directors, including former president Tony Sorcic, to promote themselves at the expense of its shareholders.

      • Corporate charity is good, up to a point. But when the corporatation doesn’t really have any money to contribute, I would look to other motives. And then, when they advertise their generosity, the contributions become a bit less noble.

          • You are, for sure, as am I – but you are maybe perhaps a bit too gullible?

            Did the bank pay its WZOE director a fee to pomote their support to Festival 56? Personally, I would more appreciate receiving earnings from the bank, and contribute some of my own money to the charities of my choice. But, I wouldn’t pay to take out ads to slap myself on the back like the bank does – when they are essentially defunct..

            • I’m too old to be gullible. They didn’t have to pay him. Steve is a Princeton promoter from way back and he has done a lot of community service ads with no self serving interests at all. I’m certain that he is also aware that what is good for Princeton is good for the radio station. What is good for Princeton is good for the bank.
              Sure there may be some “scratch my back and I’ll scratch yours” that goes on from time to time but most downtown businesses, not all, know that helping the community helps them.

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