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Fed Up: A Texas Bank Is Calling It Quits

Thursday, August 11, 2011 - 8:16 AMMain Street Bank - Details
From WSJ.com
Main Street Bank lends most of its money to small businesses and is earning decent profits. But the Kingwood, Texas, bank is about to get out of the banking business.

In an extreme example of the frustration felt by many bankers as regulators toughen their oversight of the nation's financial institutions, Main Street's chairman, Thomas Depping, is expected to announce Wednesday that the 27-year-old bank will surrender its banking charter and sell its four branches to a nearby bank.

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WhataBummerWhataBummer413 posts since
Oct 15, 2010
Rep Points: 1,702
1. Thursday, August 11, 2011 - 8:34 AM
This explains why the bank didn't care about its early closure of those CDs.
1
Ken TuminKen Tumin5,468 posts since
Nov 29, 2009
Rep Points: 125,029
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