{"id":637,"date":"2009-03-20T22:03:09","date_gmt":"2009-03-20T22:03:09","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=637"},"modified":"2009-03-20T22:03:09","modified_gmt":"2009-03-20T22:03:09","slug":"update_on_true_story_with_the","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=637","title":{"rendered":"Update On &#8220;True Story With The Names Omitted&#8221;"},"content":{"rendered":"<p>I posted an article today about a bank in Massachusetts.&nbsp; I did not give the name of the bank because I wasn&#8217;t sure how public the information was.&nbsp; I had some of it wrong, I thought the bank was in a different city.&nbsp; Anyway, <a href=\"http:\/\/www.foxnews.com\/story\/0,2933,509584,00.html\">Fox News<\/a>&nbsp;has come out with the story.&nbsp; So here is the missing information.<\/p>\n<p>The bank is East Bridgewater Savings Bank which has no delinquent loans or foreclosures on its books.&nbsp; The bank didn&#8217;t even need to set aside in money in 2008 for anticipated loan losses.&nbsp;&nbsp; From late 2003 through mid-2008, East Bridgewater Savings made an average of 28 cents in loans for every dollar in deposit &#8212; a sharp contrast to the 90 percent average loan-to-deposit ratio among similar banks.<\/p>\n<p>The FDIC recently criticized this bank for not lending enough, slapping it with a &#8220;needs to improve&#8221; rating under the Community Reinvestment Act, the Boston Business Journal reported.<\/p>\n<p>According to the article:<\/p>\n<p _extended=\"true\" itxtvisited=\"1\"><em>&#8220;East Bridgewater Savings ended 2008 with $135 million in assets, deposits of $84 million, $87,000 in profit, and a Tier 1 risk-based capital ratio of 31.6 percent &#8212; more than three times higher than many community banks in Massachusetts, the Journal reported.&#8221;<\/em><\/p>\n<p _extended=\"true\" itxtvisited=\"1\">It seems to me that this sort of behavior on the part of the bank should be praised&#8211;not criticized.&nbsp; It used to be good business to lend money only to people who were likely to pay it back!<\/p>\n<p _extended=\"true\" itxtvisited=\"1\">&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I posted an article today about a bank in Massachusetts.&nbsp; I did not give the name of the bank because I wasn&#8217;t sure how public the information was.&nbsp; I had some of it wrong, I thought the bank was in &hellip; <a href=\"https:\/\/www.rightwinggranny.com\/?p=637\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-637","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/637","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=637"}],"version-history":[{"count":0,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/637\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}