Tamalpais Bank reports $5.1 million loss

"It's easy to look backwards and see certain things you might do differently," Garwood said, when asked if he would have made different decisions over the past year to avoid the bank's current predicament. "But the answer is no. At the time, we were focused on what we believed to be the right things."

Ahh, what? I thought you were supposed to learn from your mistakes.

A cease-and-desist order? Ouch.

Stick a fork in Tam Bank. Gonners, only a matter time.

Tamalpais is a friendly local bank and I for one would be sorry to see them gone. It would be a loss for the community.

Tam Bank management is a total failure....Garwood thinks that having a bank that is associated with local charities is a big winner....Garwood you need a bank that competes with other banks---that's the business---YOU FOOL....

I follow the banking industry and most banks in the position of Tamalpais bank generally have to promote good deals (high rate cd's, etc.) to get new money...Tamalpais hasn't done that......I think the bank is headed to an FDIC takeover...

I feel bad for the branch employees...they are really good people.....too bad magagement is a joke!!!!!!

One Final Comment:

Bring back San Rafael Thrift & Loan...It was the best bank in the county....Tamalpais bank ruined the San Rafael Thrift & Loan model...
Too bad...

TAMB's press release yesterday stated that Mr. Rosenberger's $500K promissory note was subsequently donated to charity. Maybe he needed an additional 2009 tax deduction, and I question why the IJ web site article left out this disclosure? Stock market doesn't seem to like yesterday's results. Stock closed today below the September 18 low, a bearish sign. The capital clock is ticking. The question now is has all the medicine been taken or not?

The deadline on the FDIC Order is Nov. 13, this Friday.

The FDIC usually closes banks on Friday, so they have the weekend to complete transition to a new bank.

Might this Friday the 13th be particularly for Sham Bank?

The FDIC has finally published the Tam Bank Order from a couple of months ago. It's available at:
http://www.fdic.gov/bank/individual/enforceme...

A key provision is paragraph 3(a) on page 4, requiring by December 31 a couple of equity ratios that the Bank isn't at yet. The current numbers and several ratios are in the full press release from Tam Bank, available at:
http://tambank.com/investor-relations/newsroo...

Interestingly, the "numbers portion" of the Tam Bank results is displayed in image, not text, format, which limits one's ability to cut-and-paste the numbers somewhere else.(Wonder why?)

Various other plans, implementations, etc. are due by this Friday--no real public way to measure how close/far these goals are until the FDIC's weekend press releases.

Time for the rude and arrogant tellers to practice saying, "Would you like fries with that?"

The tellers at Tamalpais Bank are some of the most helpful and friendly people I have dealt with. They always go out of their way to help me and other clients. I don't know which branch "Rational" approach went into but I have NEVER witnessed this at Corte Madera, where I frequent. They are highly knowledgable and I doubt that any of them will be working at a fast food joint. You should be ashamed of yourself. THey are the little people trying to hold everything together on the front lines while all of the big wigs are making bad investments.

Lisa, you are correct, I didn't go into the Corte Madera branch.

While I sympathize with "little people", it's their front-line efforts which enable the "big wigs" to run their stuff....