Home › Forums › Financial Markets/Economics › Tomorrow is Friday, which bank will the FDIC close?
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davelj.
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July 25, 2009 at 6:23 AM #437264July 25, 2009 at 8:52 AM #436556
evolusd
ParticipantAllan – glad to hear you had good experiences with the old Grossmont Bank. Many of the people stayed on with CBT after the conversion. I joined just after the conversion after graduating from USD. I have to say, we’ve been able to keep the community bank feel with approval for most deals right upstairs from our office in UTC. Higher commitments go just up the road to our Carmel Valley headquarters.
As for turnover, it’s been fairly low with us as far back as I can remember. We underwrote conservatively during the boom times thanks to solid credit admin guys, which has SAVED us during this downturn. You’ll see a lot more turnover at places where the writing is on the wall.
July 25, 2009 at 8:52 AM #436761ParticipantAllan – glad to hear you had good experiences with the old Grossmont Bank. Many of the people stayed on with CBT after the conversion. I joined just after the conversion after graduating from USD. I have to say, we’ve been able to keep the community bank feel with approval for most deals right upstairs from our office in UTC. Higher commitments go just up the road to our Carmel Valley headquarters.
As for turnover, it’s been fairly low with us as far back as I can remember. We underwrote conservatively during the boom times thanks to solid credit admin guys, which has SAVED us during this downturn. You’ll see a lot more turnover at places where the writing is on the wall.
July 25, 2009 at 8:52 AM #437078ParticipantAllan – glad to hear you had good experiences with the old Grossmont Bank. Many of the people stayed on with CBT after the conversion. I joined just after the conversion after graduating from USD. I have to say, we’ve been able to keep the community bank feel with approval for most deals right upstairs from our office in UTC. Higher commitments go just up the road to our Carmel Valley headquarters.
As for turnover, it’s been fairly low with us as far back as I can remember. We underwrote conservatively during the boom times thanks to solid credit admin guys, which has SAVED us during this downturn. You’ll see a lot more turnover at places where the writing is on the wall.
July 25, 2009 at 8:52 AM #437150ParticipantAllan – glad to hear you had good experiences with the old Grossmont Bank. Many of the people stayed on with CBT after the conversion. I joined just after the conversion after graduating from USD. I have to say, we’ve been able to keep the community bank feel with approval for most deals right upstairs from our office in UTC. Higher commitments go just up the road to our Carmel Valley headquarters.
As for turnover, it’s been fairly low with us as far back as I can remember. We underwrote conservatively during the boom times thanks to solid credit admin guys, which has SAVED us during this downturn. You’ll see a lot more turnover at places where the writing is on the wall.
July 25, 2009 at 8:52 AM #437315ParticipantAllan – glad to hear you had good experiences with the old Grossmont Bank. Many of the people stayed on with CBT after the conversion. I joined just after the conversion after graduating from USD. I have to say, we’ve been able to keep the community bank feel with approval for most deals right upstairs from our office in UTC. Higher commitments go just up the road to our Carmel Valley headquarters.
As for turnover, it’s been fairly low with us as far back as I can remember. We underwrote conservatively during the boom times thanks to solid credit admin guys, which has SAVED us during this downturn. You’ll see a lot more turnover at places where the writing is on the wall.
July 25, 2009 at 9:19 AM #436565Allan from Fallbrook
Participant[quote=evolusd]Allan – glad to hear you had good experiences with the old Grossmont Bank. Many of the people stayed on with CBT after the conversion. I joined just after the conversion after graduating from USD. I have to say, we’ve been able to keep the community bank feel with approval for most deals right upstairs from our office in UTC. Higher commitments go just up the road to our Carmel Valley headquarters.
As for turnover, it’s been fairly low with us as far back as I can remember. We underwrote conservatively during the boom times thanks to solid credit admin guys, which has SAVED us during this downturn. You’ll see a lot more turnover at places where the writing is on the wall.[/quote]
Evol: Is Don Gruhl still around? I worked with him several years back and for several years during my time at Corroon/Willis. We were heavily involved in construction from the surety side and Don was aces to work with.
Most of our clients were Military/Federal contractors, like RQ, Sundt and Wiley, and having someone like Don who knew the market and the players and the business made things a lot easier.
I’m glad to hear so many of the original Grossmont crew stayed on after the CB&T purchase. I sit back and watch local bank after local bank disappear: Scripps Bank, Bank of Commerce, Southwest Community Bank, the list goes on and on and it’s disheartening to watch so many community institutions with strong local ties just vanish.
July 25, 2009 at 9:19 AM #436771Participant[quote=evolusd]Allan – glad to hear you had good experiences with the old Grossmont Bank. Many of the people stayed on with CBT after the conversion. I joined just after the conversion after graduating from USD. I have to say, we’ve been able to keep the community bank feel with approval for most deals right upstairs from our office in UTC. Higher commitments go just up the road to our Carmel Valley headquarters.
As for turnover, it’s been fairly low with us as far back as I can remember. We underwrote conservatively during the boom times thanks to solid credit admin guys, which has SAVED us during this downturn. You’ll see a lot more turnover at places where the writing is on the wall.[/quote]
Evol: Is Don Gruhl still around? I worked with him several years back and for several years during my time at Corroon/Willis. We were heavily involved in construction from the surety side and Don was aces to work with.
Most of our clients were Military/Federal contractors, like RQ, Sundt and Wiley, and having someone like Don who knew the market and the players and the business made things a lot easier.
I’m glad to hear so many of the original Grossmont crew stayed on after the CB&T purchase. I sit back and watch local bank after local bank disappear: Scripps Bank, Bank of Commerce, Southwest Community Bank, the list goes on and on and it’s disheartening to watch so many community institutions with strong local ties just vanish.
July 25, 2009 at 9:19 AM #437088Participant[quote=evolusd]Allan – glad to hear you had good experiences with the old Grossmont Bank. Many of the people stayed on with CBT after the conversion. I joined just after the conversion after graduating from USD. I have to say, we’ve been able to keep the community bank feel with approval for most deals right upstairs from our office in UTC. Higher commitments go just up the road to our Carmel Valley headquarters.
As for turnover, it’s been fairly low with us as far back as I can remember. We underwrote conservatively during the boom times thanks to solid credit admin guys, which has SAVED us during this downturn. You’ll see a lot more turnover at places where the writing is on the wall.[/quote]
Evol: Is Don Gruhl still around? I worked with him several years back and for several years during my time at Corroon/Willis. We were heavily involved in construction from the surety side and Don was aces to work with.
Most of our clients were Military/Federal contractors, like RQ, Sundt and Wiley, and having someone like Don who knew the market and the players and the business made things a lot easier.
I’m glad to hear so many of the original Grossmont crew stayed on after the CB&T purchase. I sit back and watch local bank after local bank disappear: Scripps Bank, Bank of Commerce, Southwest Community Bank, the list goes on and on and it’s disheartening to watch so many community institutions with strong local ties just vanish.
July 25, 2009 at 9:19 AM #437160Participant[quote=evolusd]Allan – glad to hear you had good experiences with the old Grossmont Bank. Many of the people stayed on with CBT after the conversion. I joined just after the conversion after graduating from USD. I have to say, we’ve been able to keep the community bank feel with approval for most deals right upstairs from our office in UTC. Higher commitments go just up the road to our Carmel Valley headquarters.
As for turnover, it’s been fairly low with us as far back as I can remember. We underwrote conservatively during the boom times thanks to solid credit admin guys, which has SAVED us during this downturn. You’ll see a lot more turnover at places where the writing is on the wall.[/quote]
Evol: Is Don Gruhl still around? I worked with him several years back and for several years during my time at Corroon/Willis. We were heavily involved in construction from the surety side and Don was aces to work with.
Most of our clients were Military/Federal contractors, like RQ, Sundt and Wiley, and having someone like Don who knew the market and the players and the business made things a lot easier.
I’m glad to hear so many of the original Grossmont crew stayed on after the CB&T purchase. I sit back and watch local bank after local bank disappear: Scripps Bank, Bank of Commerce, Southwest Community Bank, the list goes on and on and it’s disheartening to watch so many community institutions with strong local ties just vanish.
July 25, 2009 at 9:19 AM #437325Participant[quote=evolusd]Allan – glad to hear you had good experiences with the old Grossmont Bank. Many of the people stayed on with CBT after the conversion. I joined just after the conversion after graduating from USD. I have to say, we’ve been able to keep the community bank feel with approval for most deals right upstairs from our office in UTC. Higher commitments go just up the road to our Carmel Valley headquarters.
As for turnover, it’s been fairly low with us as far back as I can remember. We underwrote conservatively during the boom times thanks to solid credit admin guys, which has SAVED us during this downturn. You’ll see a lot more turnover at places where the writing is on the wall.[/quote]
Evol: Is Don Gruhl still around? I worked with him several years back and for several years during my time at Corroon/Willis. We were heavily involved in construction from the surety side and Don was aces to work with.
Most of our clients were Military/Federal contractors, like RQ, Sundt and Wiley, and having someone like Don who knew the market and the players and the business made things a lot easier.
I’m glad to hear so many of the original Grossmont crew stayed on after the CB&T purchase. I sit back and watch local bank after local bank disappear: Scripps Bank, Bank of Commerce, Southwest Community Bank, the list goes on and on and it’s disheartening to watch so many community institutions with strong local ties just vanish.
July 25, 2009 at 10:58 AM #436597davelj
Participant[quote=Allan from Fallbrook]
Dave: Vineyard doesn’t surprise me, they were in extremis for a long while. It’s funny, I happened to drive by their branch off the 15 and the 91 in Corona on my way back from Ontario Airport on Wednesday.
Too bad about SDNB, though. Several of my construction clients back in my consulting days used to bank with them and they had an excellent construction lending and surety bonding support program. Solid mid-level local players like SDNB and Grossmont Bank (before they became CB&T) really helped “grow” San Diego and did so with solidly underwritten loans, smart, careful programs and long-term personal relationships. Soon, it’ll be nothing but big nationals like Wells, BofA and Citi and totally impersonal, automated banking.[/quote]
Not to worry, Allan. There will always be community banks like SDNB and the others. The names just change. Assuming SDNB fails, some larger bank will acquire it (probably not BofA, Wells, etc. – they’re too capital constrained) and the good community banking teams will leave to start their own banks. These guys will grow their banks for ten years, sell out, and the cycle will repeat. There will always be good small banks around. Although the industry is consolidating. Back in 1985 there were 16,000 banks and thrifts – most of them tiny and fairly inefficient. Almost 25 years later, we still have about 8,000 left. My guess is that we’ll be down to 4,000 or so over the next 15 years and the decline in numbers will slow down. At some point the number of start-ups and acquired banks will roughly cancel each other out. And my guesstimate is that happens somewhere around 3,500 – 5,000 institutions.
July 25, 2009 at 10:58 AM #436802Participant[quote=Allan from Fallbrook]
Dave: Vineyard doesn’t surprise me, they were in extremis for a long while. It’s funny, I happened to drive by their branch off the 15 and the 91 in Corona on my way back from Ontario Airport on Wednesday.
Too bad about SDNB, though. Several of my construction clients back in my consulting days used to bank with them and they had an excellent construction lending and surety bonding support program. Solid mid-level local players like SDNB and Grossmont Bank (before they became CB&T) really helped “grow” San Diego and did so with solidly underwritten loans, smart, careful programs and long-term personal relationships. Soon, it’ll be nothing but big nationals like Wells, BofA and Citi and totally impersonal, automated banking.[/quote]
Not to worry, Allan. There will always be community banks like SDNB and the others. The names just change. Assuming SDNB fails, some larger bank will acquire it (probably not BofA, Wells, etc. – they’re too capital constrained) and the good community banking teams will leave to start their own banks. These guys will grow their banks for ten years, sell out, and the cycle will repeat. There will always be good small banks around. Although the industry is consolidating. Back in 1985 there were 16,000 banks and thrifts – most of them tiny and fairly inefficient. Almost 25 years later, we still have about 8,000 left. My guess is that we’ll be down to 4,000 or so over the next 15 years and the decline in numbers will slow down. At some point the number of start-ups and acquired banks will roughly cancel each other out. And my guesstimate is that happens somewhere around 3,500 – 5,000 institutions.
July 25, 2009 at 10:58 AM #437119Participant[quote=Allan from Fallbrook]
Dave: Vineyard doesn’t surprise me, they were in extremis for a long while. It’s funny, I happened to drive by their branch off the 15 and the 91 in Corona on my way back from Ontario Airport on Wednesday.
Too bad about SDNB, though. Several of my construction clients back in my consulting days used to bank with them and they had an excellent construction lending and surety bonding support program. Solid mid-level local players like SDNB and Grossmont Bank (before they became CB&T) really helped “grow” San Diego and did so with solidly underwritten loans, smart, careful programs and long-term personal relationships. Soon, it’ll be nothing but big nationals like Wells, BofA and Citi and totally impersonal, automated banking.[/quote]
Not to worry, Allan. There will always be community banks like SDNB and the others. The names just change. Assuming SDNB fails, some larger bank will acquire it (probably not BofA, Wells, etc. – they’re too capital constrained) and the good community banking teams will leave to start their own banks. These guys will grow their banks for ten years, sell out, and the cycle will repeat. There will always be good small banks around. Although the industry is consolidating. Back in 1985 there were 16,000 banks and thrifts – most of them tiny and fairly inefficient. Almost 25 years later, we still have about 8,000 left. My guess is that we’ll be down to 4,000 or so over the next 15 years and the decline in numbers will slow down. At some point the number of start-ups and acquired banks will roughly cancel each other out. And my guesstimate is that happens somewhere around 3,500 – 5,000 institutions.
July 25, 2009 at 10:58 AM #437191Participant[quote=Allan from Fallbrook]
Dave: Vineyard doesn’t surprise me, they were in extremis for a long while. It’s funny, I happened to drive by their branch off the 15 and the 91 in Corona on my way back from Ontario Airport on Wednesday.
Too bad about SDNB, though. Several of my construction clients back in my consulting days used to bank with them and they had an excellent construction lending and surety bonding support program. Solid mid-level local players like SDNB and Grossmont Bank (before they became CB&T) really helped “grow” San Diego and did so with solidly underwritten loans, smart, careful programs and long-term personal relationships. Soon, it’ll be nothing but big nationals like Wells, BofA and Citi and totally impersonal, automated banking.[/quote]
Not to worry, Allan. There will always be community banks like SDNB and the others. The names just change. Assuming SDNB fails, some larger bank will acquire it (probably not BofA, Wells, etc. – they’re too capital constrained) and the good community banking teams will leave to start their own banks. These guys will grow their banks for ten years, sell out, and the cycle will repeat. There will always be good small banks around. Although the industry is consolidating. Back in 1985 there were 16,000 banks and thrifts – most of them tiny and fairly inefficient. Almost 25 years later, we still have about 8,000 left. My guess is that we’ll be down to 4,000 or so over the next 15 years and the decline in numbers will slow down. At some point the number of start-ups and acquired banks will roughly cancel each other out. And my guesstimate is that happens somewhere around 3,500 – 5,000 institutions.
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