Anatomy of a bank failure | Arkansas Blog

Saturday, August 16, 2008

Anatomy of a bank failure

Posted By on Sat, Aug 16, 2008 at 6:56 AM

NY Times today profiles a bank regulator who oversaw the takeover of the failing ANB bank in Bentonville. The article touches on the source of the bank's problems and mentions that the FDIC now has some $145 million in properties backed by bad loans for sale on its website.

Mr. Holloway and five colleagues huddled in the bank’s loan office in St. George, Utah. Two-thirds of ANB’s loans had been made in Utah.

“I was the asset manager, and the biggest assets were in Utah,” he said. “They also had offices in Jackson Hole, Wyo., and Idaho Falls, Idaho. So we consolidated them.”

ANB, like other smaller banks, had been eager to grow and had determined that its local northern Arkansas housing market, heavily laced with retirees looking for new leisure homes, was saturated. It moved further west and into construction loans. Those can be among the most treacherous because it takes years to determine if the development is successful, if people will buy the properties and if the bank will be repaid.

From the ArkTimes store

Favorite

Comments (8)

Showing 1-8 of 8

Add a comment

 
Subscribe to this thread:
Showing 1-8 of 8

Add a comment

More by Max Brantley

Readers also liked…

  • Al Gore remembers Dale Bumpers

    Former Vice President Al Gore, a former U.S. Senate colleague of Dale Bumpers, sent a statement on Bumpers' death Friday:
    • Jan 3, 2016
  • City Board votes to table homeless feeding ordinance for 8 weeks, study with commission

    The Little Rock Board of Directors voted tonight to table for eight weeks an ordinance that homeless advocates say would severely limit the ability of charities to feed homeless people in city parks. Before the ordinance was punted, Vice Mayor Kathy Webb proposed a nine-member commission to study the issue and make recommendations to the board.
    • May 16, 2017
  • Super Bowl line

    Over to you.
    • Feb 7, 2016

Most Shared

  • Lynchings hidden in the history of the Hot Springs Confederate monument

    Hot Springs twice erupted into the kind of violence that has its roots in the issues left unresolved by the Civil War, and both times, it happened right where that monument to Confederate soldiers stands today.
  • Take yourself there: Mavis Staples coming to LR for Central High performance

    Gospel and R&B singer and civil rights activist Mavis Staples, who has been inspiring fans with gospel-inflected freedom songs like "I'll Take You There" and "March Up Freedom's Highway" and the poignant "Oh What a Feeling" will come to Little Rock for the commemoration of the 60th anniversary of the desegregation of Central High.
  • Klan's president

    Everything that Donald Trump does — make that everything that he says — is calculated to thrill his lustiest disciples. But he is discovering that what was brilliant for a politician is a miscalculation for a president, because it deepens the chasm between him and most Americans.
  • On Charlottesville

    Watching the Charlottesville spectacle from halfway across the country, I confess that my first instinct was to raillery. Vanilla ISIS, somebody called this mob of would-be Nazis. A parade of love-deprived nerds marching bravely out of their parents' basements carrying tiki torches from Home Depot.

Most Viewed

Most Recent Comments

Blogroll

 

© 2017 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation