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.