Banks?

[NDwalleyes]

ND wall:

Help me understand what you just meant in your last post. db

db many of these banks will will invest in risky startup businesses or even politically motivated sectors that put our money at risk. Green energy research, crypto, etc., looking for quick returns. I'm looking for a bank with common sense.

 

[FightingSioux]

db many of these banks will will invest in risky startup businesses or even politically motivated sectors that put our money at risk. Green energy research, crypto, etc., looking for quick returns. I'm looking for a bank with common sense.

Credit unions?

 

[johnr]

db many of these banks will will invest in risky startup businesses or even politically motivated sectors that put our money at risk. Green energy research, crypto, etc., looking for quick returns. I'm looking for a bank with common sense.

I am a fan of Gate City, they are a ND bank with ND values. Highly doubt they would be investing into the crypto, or various other bizarre risk entities, I however am only guessing, and bank there so I have zero inside info, other than I feel safe with my relationship with them.

 

[db-2]

ND WALL:

You mention what is very dear to me and a couple of bank's names.

I feel there are a couple of items banks put on their agenda. One being bottom line and the other what the people in their community think of them. I have been in their meetings.
It is important for them that they are perceived as a community bank there for the people of that community. And both items are important.
.
COMMUNITY BANKS

As the bank goes so goes the community. They are the most important business in a community to ensure the long-term success of a community's future and its people.

Larger banks in ND with a bottom line of well into the million can afford to take risk in granting small business loans and others in the communities they are in. For the good of all.

A lot of these loans are well below a million dollars and sometimes only a few thousand. The entire amount of that loan is not at risk. The risk is not taking a risk that the bank can well afford. And yes, the bank needs itself to be strong financially with sound decision making along with considering the future of the community. There is a balance,
And some banks may look elsewhere for that quick return outside their community.

Decisions are no longer made by the local loan officers but in the basement of their headquarter in these banks.
Part of the decision making is knowing the customer and that is not found by looking at an application but knowing the person. Probably the most important part of the decision making.

If you're looking for a bank, the first thing i would look for is local ownership in that bank. Owners that are part of the community they are in. Owners that take part in the community they live in. Owners that you know and maybe now and then have a beer with. Banks that are truly community banks with local decision making. db-2

 

[db-2]

Johnr:

I have been with Gate City since high school off and on. Moved a lot but also with the local banks.
I would rate them right up there to serve their customers and communities db

 

[Rowdie]

Well,sure enough,one of you guyz called it....

Mumbles slow Joe just blamed Trump for this bank fiasco...what a f ing clown, deflect and blame others for all his f ups

To be fair, you just knew that was coming!

 

[Bfishn]

However you feel about Trump, did he not specifically rollback some of the Dodd-Frank regulations that included allowing these banks to keep fewer deposits on hand so they were able to invest more money? It sounds like the CEO of SVB was even one of the people that lobbied for that change.

The change lessened scrutiny for banks under $250b, it had previously been $50b. So the vast majority of banks became less regulated because of the change. Only the giants are above $250b.

 

[johnr]

However you feel about Trump, did he not specifically rollback some of the Dodd-Frank regulations that included allowing these banks to keep fewer deposits on hand so they were able to invest more money? It sounds like the CEO of SVB was even one of the people that lobbied for that change.

The change lessened scrutiny for banks under $250b, it had previously been $50b. So the vast majority of banks became less regulated because of the change. Only the giants are above $250b.

That being said, what specifically made these banks invest in crypto, and other flash opportunities?

The lack of available cash on hand is likely a bad way to run your business, and just because you can, doesn't mean you should, so still the bank is at fault for their actions, however where they invested is more of the issue than being allowed to.

A board of directors is there to prevent this, not encourage it.

If the business down the street goes full retard with other peoples cash, can we blame biden for not predicting it, and somehow stopping it?

your cash is covered up to $250,000. If a person puts in $$$ above that to bad jack.

 

[Ruttin]

However you feel about Trump, did he not specifically rollback some of the Dodd-Frank regulations that included allowing these banks to keep fewer deposits on hand so they were able to invest more money? It sounds like the CEO of SVB was even one of the people that lobbied for that change.

The change lessened scrutiny for banks under $250b, it had previously been $50b. So the vast majority of banks became less regulated because of the change. Only the giants are above $250b.

I believe you are correct. However Slow Joe had two years to reverse it.

 

[CAH]

Bank stocks are crushing it today in the market. Contagion my ass!

 

[fireone]

I believe you are correct. However Slow Joe had two years to reverse it.

The banking law change has to go through Congress. The president can advocate but he can't change by himself.

 

[catchindeers]

 

[db-2]

A friend works in a large bank in Chicago. Had a customer applied for a 10 million loan which they approved to cover that balance they had in their operating account at SVB as it was frozen. Those funds were needed to cover their payroll and accounts payables due on Monday.

A lot of business normally have way more than $250,000 in their checking accounts to operate on.
For some the normal balance is in the millions as there day to day expenses are that high.
For many the 250 comes nowhere close. db

 

[lunkerslayer]

The shitlibs are just laughing at us

 

[lunkerslayer]

CEO talking about pulling funding hours before collapse

 

[lunkerslayer]

Trump said it best EVERTHING that is woke turns to shit

 

[Captain Ahab]

@Captain Ahab, best local, conservatively invested, non-woke, financially sound, ND bank bank for us sob busting - prairie folk? Gate City? Starion? First International?

All comes down to knowing the CEO and CIOs....any suggestions?

Most banks in ND are pretty conservative. The more aggressive banks are in lending and expansion, the more they "put themselves out there". I think most people follow FDIC limits here in ND as well. Probably not too many to steer clear of around here.

 

[shorthairsrus]

I don't think FDIC is comparable to your personal insurance. It also exists to keep confidence in the banking system as nobody has ever lost a penny in an FDIC insured institution. That's what we are seeing here, depositor funds guaranteed to stop more bank runs and a further crisis.

Nobody with acct under 250k


This is a goodole boy bailout

 

[shorthairsrus]

Most banks in ND are pretty conservative. The more aggressive banks are in lending and expansion, the more they "put themselves out there". I think most people follow FDIC limits here in ND as well. Probably not too many to steer clear of around here.

250 is chump change now days.... Small to medium business a lot of times go over that amount for operations.

I am not saying bailout. Change the rules increase cost of insurance


Banks and car washes.

 

[shorthairsrus]

Me telling ahab 250 is chump change. when his ice fish8ng equipment alone exceeds the fdic limit