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Coleman Thursday’s Movers and Shakers

September 18, 2014 By Bob Coleman Editor, Coleman Report Seacoast Commerce Bank Announces the Hiring of Steve Alkana and the Opening of SBA Loan Production Office in Portland, Oregon “Steve is a great addition to our SBA Team and will enhance the success that we have had in becoming the 2nd largest SBA lender in…

Main Street Wednesday – The Case for the Community Bank

September 17, 2014 By Bob Coleman Editor, Coleman Report I love dissecting the numbers and here are some to contemplate as an FDIC official testified before Congress yesterday. · Community banks account for 14% of banking assets · Community banks account for 45% of small loans to Main Street and Rural America · 600 of…

SBA Hot Topic Tuesday – SBA 504 Rates Remain Below Historical Average

September 16, 2014 By Bob Coleman Editor, Coleman Report NADCO’s Small Business Lending Report shows the market continues to favor the borrower. September’s debenture rate of 2.92 percent marked the fourth month in a row the debenture rate has stayed below three percent, and is still well below the 12-month average of 3.2 percent. “It…

Mug Shot Monday – Thou Shalt Not Covet Thy Neighbor’s House

September 15, 2014 By Bob Coleman Editor, Coleman Report Or, use your neighbor’s house as collateral for a c-store loan in Stover, Missouri. So sayeth the feds against Carol Noble who used the house next door for a $185,000 loan by Central Trust Bank in Jefferson City. Carol transposed the address in her loan application.…

Fraud Friday – Another Community Banker Guilty of TARP Fraud

September 12, 2014 By Bob Coleman Editor, Coleman Report “Don Langford, former TierOne senior executive and chief credit officer, conspired with others to hide losses at the bank by cooking the bank’s books and reporting falsified information to stakeholders, regulators, external auditors, and the investing public,” says SIGTARP. “Langford and others engaged in fraud in…

Coleman Thursday’s Movers and Shakers

September 11, 2014 By Bob Coleman Editor, Coleman Report Tom Wallace Completes and Issues Ice Bucket Challenge, watch here Larry Schwenn Named Vice President of Bank of Sun Prairie “Larry brings unmatched experience in real estate and business loans to Bank of Sun Prairie. He has extensive knowledge of Small Business Administration programs, which will…

Main Street Wednesday – Small Biz Income Up, Bankruptcies Down

September 10, 2014 By Bob Coleman Editor, Coleman Report Says SBA’s Office of Advocacy Economist Brian Headd in his second quarter 2014 report. Overall small business indicators are improving. Promising signs include rising proprietors’ income (Figure 1), a low level of business bankruptcies (Figure 2), and establishment births consistently outnumbering establishment deaths (Figure 3). Private-sector…

SBA Hot Topic Tuesday – SBA Loan Officers Make Mistakes Too

September 9, 2014 By Bob Coleman Editor, Coleman Report This is fifth and last installment of our coverage of the June SBA Inspector General audit of SBA approval on non PLP 7(a) loans. SBA’s Loan Guaranty Processing Center approved a $2 million 7(a) loan that refinanced same-institution debt and transferred the loss from the lender…

Mug Shot Monday – Two Indicted for Ripping off a Texas Bank of $400,000 with Fake Invoices

September 8, 2014 By Bob Coleman Editor, Coleman Report Two Odessa oilfield services partners have been indicted for inflating account receivables sold to Commercial State Bank. According to the feds Shorts Electric had a Business Manager Reserve Account (BMRA) in which CSB would purchase, at a discount, Shorts Electric accounts receivable and transfer funds to…

Friday – Sentence handed down for 3 Florida Community Bankers

September 5, 2014 By Bob Coleman Editor, Coleman Report “What we had was three people who had all the benefits this world had to offer and yet they decided to steal from the federal government. This will resonate. Whether you are a banker or a lawyer — when you lie, cheat and steal — you…