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Saturday, October 9, 2010 - 8:34 AM

Has The Bank Failed?

Wilshire State Bank (1 stars)
Went to the Bayside, NY branch of Wilshire State Bank on Sat. 10/9.  They were closed.  Called the Flushing, NY branch.  No one answered.  No signs on door giving any reason why Bayside branch was closed.  I know some branches close for Columbus Day, but that is Monday, and no sign for that either. I am calling California branches later to see if they are open.  Anybody know anything?  Hope they didn't fail/go out of business.
3
MopMan44MopMan444 posts since
Oct 9, 2010
Rep Points: 10
1. Saturday, October 9, 2010 - 11:11 AM
I just called a California branch of Wilshire Branch after 9 AM Pacific time, and there was no answer.  So it seems that no branches in any state that are usually open on Saturdays are open.  There is no indication on phone that bank is closed for Columbus Day holiday.....or for any other reason.  If they close for a holiday, they should at least have a message on their telephone system or website....but nothing is listed anywhere.  If they are indeed closed for a holiday, they have done a poor job in letting people know, and getting them upset for no reason.  I have a CD maturing and regardless of reason for closing, will not do business with them in the future.

Just hope they haven't "gone under."
2
MopMan44MopMan444 posts since
Oct 9, 2010
Rep Points: 10
2. Saturday, October 9, 2010 - 2:05 PM
IT IS A HOLIDAY WEEKEND!

Do you not think the FDIC would have given an indication if this was a failed bank?

If being closed on a holiday weekend is sufficient reason for not doing business with Wilshire, so be it, but I'll bet that the rate/terms they offered when you opened that CD were the best in the marketplace.
3
CTMCTM30 posts since
May 6, 2010
Rep Points: 87
3. Saturday, October 9, 2010 - 3:37 PM
To CTM:

I don't have a problem with a bank being closed for holiday...whether it's Sat only, Sat and Monday....or whatever they choose.  That's their right to do so.  But if that is why they were closed, they could have at least put notices up somewhere..either at the branch, online, or as part of the telephone message.  Other places put notices up ahead of time when they are going to be closed, so this really surprised me.

You should have seen the number of people who came to the bank and were upset at not knowing the reason for the bank being closed.

All I am saying is...give a reason for the bank being closed.
1
MopMan44MopMan444 posts since
Oct 9, 2010
Rep Points: 10
4. Saturday, October 9, 2010 - 3:40 PM
That's a Korean bank, and today is a significant Korean holiday, Hangul Day. Presumably the bank is closed today for the Korean holiday.

The day commemorates the invention in 1443 of hangul, the native alphabet of the Korean language. King Sejong the Great, inventor of hangul, is the most honored ruler in Korean history. Koreans are proud that hangul is a very scientific and creative alphabet language, and that it is one of the most recent and official writing systems ever created.
7
me1004me1004294 posts since
Jan 16, 2010
Rep Points: 1,870
5. Tuesday, October 12, 2010 - 10:30 AM
Went to bank today to redeeem CD and it was open (real glad about that).  I asked why they didn't put notice on bank about why they were closed Sat, and rep said she didn't think they had to.

Well at least Wilshire is stil solvent.
1
MopMan44MopMan444 posts since
Oct 9, 2010
Rep Points: 10
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