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Originally Posted by After Shock Media
A FYI, not all banks took the money that was offered. We have two local banks here and when one of them took some bailout money in the form of a Government loan it made the local news. Of course they made a story of how the bailout money was coming to our area and how this bank got some. Then they also interviewed the other bank with whom I bank with myself and they said they had declined it. They said that they had ran their bank as they felt the stockholders deserved, which has left them doing very well even in todays conditions and thus they did not need the Governments money. For what it is worth, the bank that declined it did not get as much news coverage.
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That must have been a rare occurance, every bank available for one took it here. I bank with a smaller area bank, or rather community bank, who didnt take it. I wonder how much longer they'll still be a community banking institution now. Alot of the smaller banks here have already been bought up and converted into smaller branches of larger chains. shitty.