Appalachian Bancshares under oversight

Are they being put under regulatory oversight because of the SEC filing showing the latest stock exchange to the board members??

There are several GA banks curretnly in this position. Normally happens when a bank has serious financial "problems". The banks require Fed and usually State Banking Com approval for transactions such as stock dividends, buy/sell company stock.
If the bank cannot maintain a positive capital position, the next step would be default under FDIC, i.e. sold to another bank.
Simplistic answer, much more involved.

Serious News will be released in the next 48 Hrs.

If you know something share with us.

yes please do share if you know something....

Several people are on vacation now over there. Is that a permanent vacation??????

I have heard that some very large names from the bank are being investigated by the FBI. They have been asked to leave while investigating. I don't have any names. Could not get it out of my source.

Read the SEC filings and the cease and desist orders and understand that they lost $6Million in July after their 2nd Qtr report. More losses are likely and the FDIC is at their doorstep. Their non-performing assets are very bad and getting worse not better.

"Sometimes it is better to come to a Horrible End than to be an Endless Horror". The horrible end is here and there may not be an after-life as the FDIC will have a difficult time finding a bank that wants these branches. SunTrust may want Blue Ridge, Ellijay, Dalton and Dawsonville as they may not overlap that much. UCBI and BBT would exceed the deposit concentrations in some locations. Asset liquidations will take some time and FDIC deposits are protected up to the max limits. McCaysville, Ducktown and a couple of others will be gone.
Just remember when a bank pays higher interest that it means they are desperate to raise funds and this is the last source. Not all of the high interest will be paid by the FDIC but the base amount will be protected. Unfortunately, Crescent and Habersham and others are also on the same list.

When the final analysis is done as to why this bank failed, there should be some questions of the Board as to why they were not implementing controls instead of making loans based on the "fog the mirror" test to their friends and family

I have heard so many rumors this week concerning BCB. I called and asked for certain people and yes they were on vacation...don't if it is a permanent one or not.

what happened/