Thursday, February 19, 2009

National News Puts Spotlight On Small Bank

Posted by Jarvis Holliday On 2/19/2009 No comments
NBC Nightly News With Brian Williams just aired a story about small town banks succeeding while the big banks are failing. It featured Citizens South bank in Gastonia, which is "an old textiles town in the shadows of Charlotte," and its sharp-minded CEO Kim Price (Kim is a man). Ken Lewis and all the other big-bank CEOs had to be watching this and turning red in the face. Bank of America became a conglomerate by gobbling up little banks like this, but now it's the small community banks that are flourishing. The news story said less than 1 percent of Citizens South's loans are in default. And that Price is "a Boys and Girls Club kind of guy. No chauffeurs. No jets." Obvious dig. See video below.


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