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Any Bank That Would Lend Money To Me Is Not Conservative Enough

July 26, 2008
Federal regulators close 2 more banks –

1st National Bank of Arizona – gone.
Quite a different story than IndyMac in that bank margins are relatively narrow and a downturn in the economy was blamed for 1st National’s demise vs questionable lending practices with IndyMac.

Still, it reminds me that we the consumer are making choices with our pocket book. I would guess that the average consumer chooses their bank based on which one is on the street corner. What a wake up call if your bank was IndyMac or 1st National.

PS Remember Atlantic Financial? Home Savings? American Savings?

1st National Bids Adieu

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