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re: If you received $500K, how would you invest it?
Posted on 5/15/14 at 9:02 am to trillhog
Posted on 5/15/14 at 9:02 am to trillhog
I have to agree with Trillhog on ability to borrow from community banks -v- larger national banks.
I can borrow all day long, although I do need a personal guaranty. I've found community banks are much more sophisticated than larger national banks due to caliber of employee.
The bank I'm on a board of pays above average wages, even to the tellers. I went to a conference one time and listened to some VP from BoA. The Pres. of ,my bank started to laugh as he tried to explain what an APOD was, and the best measure of value and safety on commercial loans. Our default ratio is virtually zero. They cannot say the same with all of their degrees and "sophistication", if that's what you call it.
There is a reason banker's salaries are what they are. Many are not very good at what they do, and their pay scale reflects it.
I can borrow all day long, although I do need a personal guaranty. I've found community banks are much more sophisticated than larger national banks due to caliber of employee.
The bank I'm on a board of pays above average wages, even to the tellers. I went to a conference one time and listened to some VP from BoA. The Pres. of ,my bank started to laugh as he tried to explain what an APOD was, and the best measure of value and safety on commercial loans. Our default ratio is virtually zero. They cannot say the same with all of their degrees and "sophistication", if that's what you call it.
There is a reason banker's salaries are what they are. Many are not very good at what they do, and their pay scale reflects it.
2
Posted on 5/15/14 at 9:04 am to Iowa Golfer
Edit...
There is also a reason why they needed to get bailed out. We didn't. The Feds came in and almost demanded we take TARP. We said NO.
There is also a reason why they needed to get bailed out. We didn't. The Feds came in and almost demanded we take TARP. We said NO.
Posted on 5/15/14 at 9:07 am to Iowa Golfer
quote:
I've found community banks are much more sophisticated than larger national banks due to caliber of employee.
Most of these types are families that have been doing this a long time, and if anything they can make a loan work out of nothing, with the big banks you have to fit into their box, with the smaller banks they fit to you.
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