SEARCH: Failed Banks

Some one needs to learn how to write titles as the relate to the news content. The bank they are discussing having failed was not in Blairsville nor was it connected to any banking orginization located in Blairsville. The fact is that the FDIC having faith in the United Community Banking org. asked that they take over running the failed banks.

Blairsville Citizen wrote:

Some one needs to learn how to write titles as the relate to the news content. The bank they are discussing having failed was not in Blairsville nor was it connected to any banking orginization located in Blairsville. The fact is that the FDIC having faith in the United Community Banking org. asked that they take over running the failed banks.

I agree that titles should reflect content.

I do have a question though, how do you know that the FDIC asked UCB to take over the banks? From what I have read UCB PAID to acquire the failed bank. That just doesn't sound like someone being asked. Just curious.

lnward87 wrote:

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I agree that titles should reflect content.
I do have a question though, how do you know that the FDIC asked UCB to take over the banks? From what I have read UCB PAID to acquire the failed bank. That just doesn't sound like someone being asked. Just curious.

The FDIC is the one who decides who can and who can't take over these failed banks. If UCBI was not qualified they wouldn't have been able to assume the liabilities of the deposits and credit sides of the banks. I have no knowledge of payment details. I will study and ask that same question. But that has nothing to do with the article and the headline. NO Blairsville bank failed!

I am glad to see our local banking industry is either asking to pick up where others have failed or was asked to. In either case, kudos to UCB!!

And I too agree regarding titles reflecting content or perhaps research before creating both.

UCBI was not asked... It is an open bidding process that takes place through the FDIC website. UCBI paid the most for the assets. Simple...

How did UCB get the money to buy all of these banks?

In the beginning the local economy was bootlegging. Then it turned to dope manufacture. When dope manufacture got too messy, the curing houses were turned into chicken coops and the dope connections turned into money laundering. Guess where the money went - and who protected these "depositors" from justice?

For those who think its all about retirement money and good deeds, think again.

Rose wrote:

How did UCB get the money to buy all of these banks?

Didn't they get a bunch of taxpayer TARP money too?

Yes they had to buy the other banks, they did take some of the government money earlier. I wonder if they, like most companies wish they hadn't now?

History seems you have a bone to pick with someone. Yes bootlegging was a good business up here in the mountains just like most of the surrounding area and yes some later became involved in the drug trade but those whose monies built the local banks were those who worked to make a lot of money out of a little. Business people, farmers and cattle traders, people who weren't afraid to invest in something with a possibility of loosing everything but hoping to make a profit. Without the local bank (there was only one for many years) the farmers couldn't have afforded to plant, business men couldn't have bought property to establish their businesses on, most of us wouldn't have ever had a car or truck or home.