FDIC takes over Tamalpais Bank

Full story: Marin Independent Journal

San Rafael-based Tamalpais Bank was closed late Friday afternoon by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver, officials announced.

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BGHOZ

Oakland, CA

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#26
Apr 17, 2010
 
'Non perforrming?" What does that mean exactly.....? Common, perhaps we should get our "Tea Party"commities involved in this....hmmmmm?
BGHOZ

Oakland, CA

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#27
Apr 17, 2010
 
Oh sorry for the extra rrr, not wearing my glasses...
DumpLibs

United States

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#28
Apr 18, 2010
 
Dam! Tam Bank was a gem -- the people who worked there just had bad leaders from get-go.
The bank managers (the ones who greeted you) were great. Gisele was always so wonderful in San Anselmo.
The barrons behind the scenes were just idiots...horrible. Sad day. I loved the personal feel of this bank and will miss the staff dearly. Mega Banks like Union Bank, Bank of America, Wells Fargo?)= Uh... YUCK! Think local, folks.
DumpLibs

United States

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#29
Apr 18, 2010
 
Please list the local and American bank in Marin (those with great service and rates) so we can have a choice. Anyone on this board know?
A Long Time Banker

Clinton, MO

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#30
Apr 18, 2010
 
It’s CEOs like this that they should throw the book at… and in this case he should have gone long ago.

Let’s see, in the news they all fit the same mould; the greed, the manipulation of the numbers, the varied treatment of employees based on origin and the “pull the wool over their eyes” incompetent board and the incredible ego… an absolutely amazing cast of characters.

No, I don’t feel sorry for the likes of you, working your own agenda on company time. And then, thinking you’re smarter than the rest, when in fact everyone is wise to it…. It was only a matter of time, for when you see hard working individuals leave it’s usually caused by loss of respect… that’s when the red flags start to come out that something is not right.
JTJ

San Francisco, CA

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#31
Apr 19, 2010
 
Another example of poor risk management! I wish all the employees the best! I left Tam months ago and moved my all accounts to Wells Fargo. They have been great! I reside in Marin and I'm pleased to see my bank so active in the community. I just an article that last year Wells Fargo gave over $700,000 to local organizations.

Since: Dec 09

Mill Valley, CA

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#32
Apr 19, 2010
 
DumpLibs wrote:
Please list the local and American bank in Marin (those with great service and rates) so we can have a choice. Anyone on this board know?
Here, instead of naming them - go to bankrate.com and do a ratings search by area. Then you will see listed banks in your zip. Once there click on them and you will see the FDIC report which will tell you more about ownership and their credit worthiness.

Since: Dec 09

Mill Valley, CA

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#33
Apr 19, 2010
 
JTJ wrote:
Another example of poor risk management! I wish all the employees the best! I left Tam months ago and moved my all accounts to Wells Fargo. They have been great! I reside in Marin and I'm pleased to see my bank so active in the community. I just an article that last year Wells Fargo gave over $700,000 to local organizations.
Wells Fargo is owned by Norwest Corporation in Minneapolis, Minnesota. While though as a subsidiary of Norwest, Wells is operated out of S.F., they are not a local community bank, but a top 5 national bank bartered heavily in Wall Street.
tscott

Greenbrae, CA

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#34
May 19, 2010
 
Kerry Mazzoni (current Marin Supervisor candidate) was appointed to the Tamalpais Bank Board of Directors in 2005. I wonder how long she served on the Board?
tscott

Greenbrae, CA

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#35
May 19, 2010
 
Another question: The CEO Mark Garwood apparently lent 75% of Tamalpais Bank capital to one company, the Lembi group which subsequently went bankrupt. It's illegal under state law to lend more than 25% of assets to one organization. Why is Mark Garwood not being brought up on fraud charges? He cost the FDIC 81 million dollars!

http://www.squarefeetblog.com/commercial-real...
ClassActionWhat

Green Cove Springs, FL

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#36
Jun 26, 2010
 
fxhomie wrote:
For those of you that don't know, Kit Cole started San Rafael Thrift and Loan, which became Tamalpais Bank. So when she says she's heartbroken, those are not just idle words.
For those of you who actually know that pretending to be Kit Cole by posting such hilariously absurd comments from her would only serve the purpose of trying to get a reaction (positive or negative.) At best, these could only be cronies of her's that when their done bathing in the money everyone used to have in this bancorp, would possibly pass on the information posted here. To even give the location of where she lives and corrections to make sure people have the right vicinty is so ridiculously unlike Kit Cole, that if you've beleived it or are a part of this charade and responded that "those are not just idle words," don't feel too badly for her heart breaking, she's gotten millions of reasons to mend it. I'm sure you know what I mean.

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