FDIC fines former directors of Pinehurst Bank $7,500 each

  • Article by: JENNIFER BJORHUS , Star Tribune
  • Updated: December 28, 2012 - 8:57 PM

The bank's founder says the fines relate to a late financial report from 2009.

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baseball91Dec. 28, 12 6:33 PM

So you open a bank, and you try to win public trust. Who better than a retired banker who knows the bank business to sit on the board to oversee operations. And the trustees are nicely compensated for their oversight each year. And when based upon the legal process the public and the FDIC are hoodwinked, who better to fine than the people who serve as trustees -- either at a small bank or at a large bank. The quote from Lohmann Jr is what is hard to understand. Trustees who get compensated are their to look at the operation of a bank -- I wonder if the annual compensation was in excess of the small amount of the fines. Wow, what a way to treat board members when problems with the bank develop.

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chrisrealtorDec. 29, 1212:11 AM

Bankers are crooks. Bury your $ in a tin can. Crooks. Show me one that's not.

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