ogspot...@gmail.com wrote:
> Doug French over the past 10 years has made more money for Silver
> State Bank than the rest of the lending staff combined. Just over 2
> years ago this bank was producing an ROE of over 30%. Corey Johnson,
> the CEO, has been in charge just over 2 years and along with COO
> Micheal Treet they have totally ruined this bank. Check the RJ records
> and you can find Johnson smugly telling the RJ two years ago that he
> was going to turn Silver State Bank into a "multi-state regional bank
> holding company" blah blah blah. Soon after Johnson expanded into
> Arizona, got himself and his minions (with the exception of French)
> covered under Million dollar golden parachutes, moved the company's
> executive offices to plush new space at "the District", came out with
> a botched stock offering, then came out with a botched "stock
> repurchase", then somewhow managed to be 90 days late reporting the
> bank's real estate loan problems when compared to the other banks in
> the SAME market, and now he's asking the"bagholders" to cough up more
> money. With a track record like this I can't imagine not giving these
> guys a big raise!! Oh wait, they also got big raises back in December
> along with their big bonuses. Guess they had to throw French under the
> bus, but hey, Johnson and Treet are still knocking back their big
> salaries for a job well done! Wish I could get a job like that.