Atlanta Based Bank Fails - Shutdown by the FDIC - GoFuckYourself.com

DateDoc · 08-29-2008, 05:16 PM

SAN FRANCISCO (MarketWatch) -- Integrity Bank of Alpharetta, Ga., with $1.1 billion in assets and $974 million in deposits, was closed Friday by the Georgia Department of Banking and Finance and the Federal Deposit Insurance Corp. was named receiver. This marks the 10th U.S. bank failure so far this year. All deposit accounts have been transferred to Regions Bank of Birmingham, Ala. and depositors of Integrity Bank will automatically become depositors of Regions Bank for the full amount of their deposits. Regions Bank will pay a total premium of 1.012% for the failed bank's deposits and will purchase about $34.4 million of Integrity Bank's assets.

10th bank to fail in 2008.

http://www.marketwatch.com/news/stor...7D&siteid=bnbh

notoldschool · 08-29-2008, 05:33 PM

as long as the people get their money back fuck em.

tony286 · 08-29-2008, 05:35 PM

I saw the title and my heart was in my throat.

marketsmart · 08-29-2008, 05:37 PM

i love how the govt is shutting down banks and then just handing over the assets to whatever bank they see fit..

this whole thing stinks...

Jon Clark - BANNED FOR LIFE · 08-29-2008, 05:41 PM

Quote:

Originally Posted by marketsmart

i love how the govt is shutting down banks and then just handing over the assets to whatever bank they see fit..

this whole thing stinks...

what he said...

After Shock Media · 08-29-2008, 05:41 PM

Quote:

Originally Posted by marketsmart

i love how the govt is shutting down banks and then just handing over the assets to whatever bank they see fit..

this whole thing stinks...

Hey the bank paid a 10th of a percent premium to get the money. The public (people who had accounts) did not get fucked and all their money is ok. Just seems that the Government is trying to not have to fuck people with FDIC limits and shit.

Though at the same time it is obvious they are shuffling the deck at the top. I.E. more rich fucks are getting some great deals and making even more money.

Fatdog · 08-30-2008, 10:01 PM

this is a bad sign of more banks getting shut down.

DBS.US · 08-30-2008, 10:03 PM

Run,,,,pull all your money out!

Agent 488 · 08-30-2008, 10:13 PM

why didn't god intervene in this wacked out jesus bank?

http://www.ajc.com/services/content/...vc=7&cxcat =6

The Alpharetta-based bank, which opened its doors in 2000 with a Christian-centered philosophy, is the 10th U.S. bank to fail this year and the second Georgia institution to fail in the past 12 months.

...

Integrity’s employees regularly prayed before meetings or in branch lobbies with customers, while the bank gave 10 percent of its net income to charities.

“We felt if we prayed and obeyed God’s word and did what He asked, that He would help us be successful,” the bank’s founder, Steve Skow, told the Journal-Constitution in 2005.

jeebus let me down on this one.

Barefootsies · 08-30-2008, 10:17 PM

Quote:

Originally Posted by marketsmart

i love how the govt is shutting down banks and then just handing over the assets to whatever bank they see fit..

this whole thing stinks...

Cronies helping cronies amass more wealth.

tony286 · 08-30-2008, 10:18 PM

Quote:

Originally Posted by budsbabes

why didn't god intervene in this wacked out jesus bank?

http://www.ajc.com/services/content/...vc=7&cxcat =6

The Alpharetta-based bank, which opened its doors in 2000 with a Christian-centered philosophy, is the 10th U.S. bank to fail this year and the second Georgia institution to fail in the past 12 months.

...

Integrity?s employees regularly prayed before meetings or in branch lobbies with customers, while the bank gave 10 percent of its net income to charities.

?We felt if we prayed and obeyed God?s word and did what He asked, that He would help us be successful,? the bank?s founder, Steve Skow, told the Journal-Constitution in 2005.

jeebus let me down on this one.

they forgot what he did to the money lenders,it was the only time he really lost his cool.

fatfoo · 08-30-2008, 11:31 PM

pfff haa ah 1.012% , that's nothing

JFK · 08-31-2008, 03:10 AM

Quote:

Originally Posted by tony404

they forgot what he did to the money lenders,it was the only time he really lost his cool.

any pics ??

WiredGuy · 08-31-2008, 06:20 AM

Doesn't seem like anyone suffers in this case, all assets were transferred and they paid a tiny premium to acquire those assets. Seems like its better than a loss in any case.
WG

08-29-2008, 05:16 PM	#1
DateDoc Outside looking in. Industry Role: Join Date: Feb 2005 Location: To Hell You Ride Posts: 14,243	Atlanta Based Bank Fails - Shutdown by the FDIC SAN FRANCISCO (MarketWatch) -- Integrity Bank of Alpharetta, Ga., with $1.1 billion in assets and $974 million in deposits, was closed Friday by the Georgia Department of Banking and Finance and the Federal Deposit Insurance Corp. was named receiver. This marks the 10th U.S. bank failure so far this year. All deposit accounts have been transferred to Regions Bank of Birmingham, Ala. and depositors of Integrity Bank will automatically become depositors of Regions Bank for the full amount of their deposits. Regions Bank will pay a total premium of 1.012% for the failed bank's deposits and will purchase about $34.4 million of Integrity Bank's assets. 10th bank to fail in 2008. http://www.marketwatch.com/news/stor...7D&siteid=bnbh __________________

08-29-2008, 05:33 PM	#2
notoldschool Confirmed User Join Date: Aug 2007 Posts: 5,687	as long as the people get their money back fuck em. __________________ No doubt one may quote history to support any cause, as the devil quotes scripture. -- Learned Hand http://www.bjpenn.com

08-30-2008, 10:01 PM	#7
Fatdog Confirmed User Join Date: Feb 2006 Posts: 350	this is a bad sign of more banks getting shut down. __________________ Exclusive Niched Gay / Shemale Network! ICQ # 326-054-903

08-30-2008, 10:03 PM	#8
DBS.US Geo Cities Industry Role: Join Date: Aug 2003 Location: North Captiva Island, Florida USA Posts: 11,832	Run,,,,pull all your money out! __________________ Make a Free Chaturbate White Label site in 34 minutes and be making money tonight

08-30-2008, 11:31 PM	#12
fatfoo ICQ:649699063 Industry Role: Join Date: Mar 2003 Posts: 27,763	pfff haa ah 1.012% , that's nothing __________________ Send me an email: [email protected]

08-29-2008, 05:35 PM	#3
tony286 lurker Industry Role: Join Date: Aug 2002 Location: atlanta Posts: 57,021	I saw the title and my heart was in my throat.

08-29-2008, 05:37 PM	#4
marketsmart HOMICIDAL TROLL KILLER Industry Role: Join Date: Dec 2004 Location: Sunnybrook Institution for the Criminally Insane Posts: 20,419	i love how the govt is shutting down banks and then just handing over the assets to whatever bank they see fit.. this whole thing stinks...

08-30-2008, 10:13 PM	#9
Agent 488 Registered User Industry Role: Join Date: Feb 2006 Posts: 22,511	why didn't god intervene in this wacked out jesus bank? http://www.ajc.com/services/content/...vc=7&cxcat =6 The Alpharetta-based bank, which opened its doors in 2000 with a Christian-centered philosophy, is the 10th U.S. bank to fail this year and the second Georgia institution to fail in the past 12 months. ... Integrity’s employees regularly prayed before meetings or in branch lobbies with customers, while the bank gave 10 percent of its net income to charities. “We felt if we prayed and obeyed God’s word and did what He asked, that He would help us be successful,” the bank’s founder, Steve Skow, told the Journal-Constitution in 2005. jeebus let me down on this one.

08-31-2008, 06:20 AM	#14
WiredGuy Pounding Googlebot Industry Role: Join Date: Aug 2002 Location: Canada Posts: 34,481	Doesn't seem like anyone suffers in this case, all assets were transferred and they paid a tiny premium to acquire those assets. Seems like its better than a loss in any case. WG __________________ I play with Google.