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Hildene’s CEO is asking for regulatory bodies to step in and help when they detect problems that, if not dealt with, could lead to something no one wants: the bank folding. But if no one will talk about what’s going on how can the problems be solved? Because solutions are available, as he offers some.

“There should not be an instance today when the FDIC insurance has to be paid because there’s enough capital out there people who want to buy banks and franchises.”

A request for an interview with Monterey County Bank was made but there’s been no response.

A request for interview with The Federal Reserve was made but there’s been no response.

A request for an interview with the FDIC was made but I was told by a spokesperson, “the FDIC does not talk about open and operating institutions.”

A request for an interview with the CDFPI was made but I was told by a spokesperson that the, “DFPI does not comment publicly on applications, examinations or investigations.”

When agencies don’t answer questions from the press or asset managers …what’s that called? Of course companies don’t want to get negative press, or to have panic around a bank. It’s in everyone’s best interest to handle issues quietly and with discretion without unneeded additional problems. However when a bank has a history of issues and then authorities are asked what’s going on and the reply is we can’t talk about it, trust in these entities and the process is hard to come by.

“What’s also sad is from 2008 til 2018 there were a lot of problem banks. There’s 10 banks on their watch list. 10. They got a whole group of people. So, you’ve got 10 banks that have a problem, you should go solve those problems because there’s a lot of you out there doing what?”

“In the problem times they are all over these banks. Look, if this bank gets shut down and the FDIC takes a loss, well that’s tax payers dollars. And if they are going to be taken of right now this bank has value then maybe they should just sell this bank. They’ve been under a consent order for like 15 years.”

“Banks are so highly regulated one would think you’d wants to go clean up all these problems and have a really pristine thing and be like, so you could say we have no banks on our problem list.  But to have a bank on the problem list for 15 years, that’s on and had a consent order for that long, to be paying their dividends out of the picket to basically not have to address the real problem, which is, you might be insolvent, this bank could be insolvent. And I just think that someone ought to do something.”