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Saturday, March 27, 2010

Key West Bank Seized & Sold




The Office of Thrift Supervision seized Key West Bank, FSB, at the close of business on Friday, Marcy 26th. The OTS then sold many of the assets to Centennial Bank's parent company, Home BancShares Inc., which acquired the former Marine Bank, about a year ago. CLICK HERE to read the article as it appears in KeysNewsNet.com.

I think about everybody in town was expecting the seizure. There were some very nice people that worked their. I hope they find new jobs. Let's see how Centennial Bank goes about trying to sell some of the many REO assets and managing the many problem loans it acquired. I used to do this stuff for a living many years ago. This might be a small town, a small bank, a small amount of assets as compared to what happens up north in America, but how our hometown banks manage the sale and disposition of troubled assets affects this small town in a very big way.

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Gary Thomas in a Nutshell

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Key West, Florida, United States
I first read about Key West in a magazine called "After Dark" sometime in the mid 1970's. But it wasn't until March 1984 that I made my first visit to the island that would become my home. I had two weeks for a vacation and reserved a room at Colours Guesthouse (now Marrero's Guest House) for one week. I thought that if I didn't like Key West, I could always go back to Miami or Ft. Lauderdale for the rest of my trip. But after a couple of days in Key West, that was no longer a consideration. But when I wanted to extend my stay for the extra week I found there was no room at the inn. The guesthouse owner did find me a room at LaTeDa, the infamous guesthouse/restaurant. That's a story I'll write another day. But those two weeks in Key West gave me the realization that I had found Paradise. Key West has been my home since 1993 and my only regret is that it took me so long to get here. I am a full time Realtor at Preferred Properties CRI. Let me help you find your new home or business in Paradise. Living in Paradise is not a slogan, it's a way of life.