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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