Yes, ShoreBank should have been saved. The Chatham community two to four unit housing stock would have been decimated had ShoreBank not been the lender of choice for individuals to purchase and rehab these properties. Also, many churches would have not been able to continue had it not been for ShoreBank.
Yes, ShoreBank had political connections but they were owed a favor.
The better question is will Seaway, Highland, or Illinos Service Federal be saved? The answer will be NO because they are expendable.
2 comments:
Yes, ShoreBank should have been saved. The Chatham community two to four unit housing stock would have been decimated had ShoreBank not been the lender of choice for individuals to purchase and rehab these properties. Also, many churches would have not been able to continue had it not been for ShoreBank.
Yes, ShoreBank had political connections but they were owed a favor.
The better question is will Seaway, Highland, or Illinos Service Federal be saved? The answer will be NO because they are expendable.
i just opened a small business account with Shore Bank. I am happy i did, and look forward to the relationship.
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