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First Bank Collapses Amid Coronavirus Woes: More in Store?

 
Anonymous Coward
User ID: 77994583
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04/07/2020 03:33 PM
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First Bank Collapses Amid Coronavirus Woes: More in Store?
Banks will start to collapse soon!

[link to www.yahoo.com (secure)]

The First State Bank based in Barboursville, WV has become the first bank to fail since the coronavirus pandemic spread across the United States. The Federal Deposit Insurance Corporation (FDIC) made this announcement on Friday.

The FDIC noted “The First State Bank has experienced longstanding capital and asset quality issues, operating with financial difficulties since 2015.” Moreover, the bank’s capital levels as of Dec 31, 2019 were too low for legally staying operational.

Therefore, all four branches of The First State Bank, along with its deposits and certain assets were immediately acquired by MVB Bank Inc., a wholly-owned subsidiary of MVB Financial Corp. MVBF. As of Dec 31, 2019, it had nearly $139.5 million of total deposits and $152.4 million in total assets.
SyncAsFunk

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04/07/2020 04:35 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
'Winners' and 'losers' were chosen long in advance.

Black Rock drives the Boat™ now.
Some Will. Some won't. So.......
Anonymous Coward
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04/07/2020 04:37 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
You are a few days late

Thread: FDIC announces first bank failure of coronavirus crisis
Callin

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04/07/2020 04:40 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
---

The FDIC noted “The First State Bank has experienced longstanding capital and asset quality issues, operating with financial difficulties since 2015.” Moreover, the bank’s capital levels as of Dec 31, 2019 were too low for legally staying operational.

---


Sounds like this little Mom-and-Pop bank have been in bad financial shape for a long time (2015).

I don't think COVID-19 had much (if anything) to do with it.

Last Edited by Callen on 04/07/2020 04:53 PM
The further a society drifts from the truth, the more it will hate those that speak it - Orwell

If you’re backed by Hollywood, social media, the government, and practically the entire globalist system, you are not the resistance -- you're part of the problem
Anonymous Coward
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04/07/2020 04:43 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
"A small bank... " so, nothing new
Anonymous Coward
User ID: 77824549
Denmark
04/07/2020 04:45 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
hahaha they have money, they just want to pretend so they can get more.

Bank Cartels, playing the victim game. We need more money..

YEah Right

Close down then.
Anonymous Coward
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04/07/2020 04:49 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
I guess they weren't informed that they can legally bail themselves in with depositors money. Oh, wait, that's only too big too fail banks.
Anonymous Coward
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04/07/2020 04:51 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
'Winners' and 'losers' were chosen long in advance.

Black Rock drives the Boat™ now.
 Quoting: SyncAsFunk


No conflict of interest there at all. Patriots in control...
Anonymous Coward
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04/07/2020 04:51 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
'Winners' and 'losers' were chosen long in advance.

Black Rock drives the Boat™ now.
 Quoting: SyncAsFunk


No conflict of interest there at all. Patriots in control...
 Quoting: Anonymous Coward 77756320


Trump will bail them out.
Anonymous Coward
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04/07/2020 05:00 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
Here we go again!
Q33

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04/07/2020 05:01 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
Banks will start to collapse soon!

[link to www.yahoo.com (secure)]

The First State Bank based in Barboursville, WV has become the first bank to fail since the coronavirus pandemic spread across the United States. The Federal Deposit Insurance Corporation (FDIC) made this announcement on Friday.

The FDIC noted “The First State Bank has experienced longstanding capital and asset quality issues, operating with financial difficulties since 2015.” Moreover, the bank’s capital levels as of Dec 31, 2019 were too low for legally staying operational.

Therefore, all four branches of The First State Bank, along with its deposits and certain assets were immediately acquired by MVB Bank Inc., a wholly-owned subsidiary of MVB Financial Corp. MVBF. As of Dec 31, 2019, it had nearly $139.5 million of total deposits and $152.4 million in total assets.
 Quoting: Anonymous Coward 77994583


damn!
Anonymous Coward
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04/07/2020 05:02 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
so a bank that had issues for five years finally bit it.

The weak will die, the strong will survive.
Anonymous Coward
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04/07/2020 05:02 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
I guess they weren't informed that they can legally bail themselves in with depositors money. Oh, wait, that's only too big WILL fail banks.
 Quoting: Anonymous Coward 76007124


fixed it for you in bold above
lets stick to the facts
Anonymous Coward
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04/07/2020 05:04 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
All I know is that banks are waiving ATM fees and are refunding overdraft fees, so this is good for customers who have legitimate bank accounts.

It makes no sense for these corporations to profit when most people are tight on cash.
Jungleboogie

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04/07/2020 05:33 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
'Winners' and 'losers' were chosen long in advance.

Black Rock drives the Boat™ now.
 Quoting: SyncAsFunk


Anything at the state level is potential 'losers'.


Small to midsize business fails, no fucks given by TPTB.
Embrace the cognitive dissonance.
Pilot_007

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04/07/2020 05:33 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
582 banks imploded in 2007 crash
R&y

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04/07/2020 05:39 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
This will go the way it always does little businesses rolled up into bigger and bigger businesses until there are only a few left.
Just like media, fuel, transportation, food, agriculture, food
Buzzcheeze

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04/07/2020 06:06 PM

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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
ANYTHING BAD that happens in this time period
is going to be REPORTED as
Coronavirus Woes


Last Edited by Buzzcheeze on 04/07/2020 06:06 PM
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uhftx

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04/07/2020 06:06 PM

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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
so a bank that had issues for five years finally bit it.

The weak will die, the strong will survive.
 Quoting: Anonymous Coward 76977638


Yes, Like the informercial But Wait There is More.

Wait till the fake Banks all failed. Second Bank, Third Bank.... And so on. They were never meant to be successful anyway.

Screw the banks. They probably have denied more good people credit and loans. Like the days of the frontier. The good survive.
Not to say the big banks are good. They are all crooked, but we have no choice unless you know of a smaller credit union which operate and work for the people (members).
Education is a decision, Not something that can be drilled into a brain.
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Anonymous Coward
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04/07/2020 06:07 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
This isn't related to this. It was already insolvent at the end of 2019. Sounds like just a poorly managed bank.
Anonymous Coward
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04/07/2020 06:13 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
---

The FDIC noted “The First State Bank has experienced longstanding capital and asset quality issues, operating with financial difficulties since 2015.” Moreover, the bank’s capital levels as of Dec 31, 2019 were too low for legally staying operational.

---


Sounds like this little Mom-and-Pop bank
have been in bad financial shape for a long time (2015).

I don't think COVID-19 had much (if anything)
to do with it.

 Quoting: Callin


Of course not, but everyone with the sniffles
will be counted as VICTIMS of the coronavirus.

This has become a political event now
(if it always wasn't)
and the left-wing commie rat bastards of the
planet will use it in every way imaginable to
advance their satanic agenda.
Anonymous Coward
User ID: 3424979
United States
04/07/2020 06:50 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
---

The FDIC noted “The First State Bank has experienced longstanding capital and asset quality issues, operating with financial difficulties since 2015.” Moreover, the bank’s capital levels as of Dec 31, 2019 were too low for legally staying operational.

---


Sounds like this little Mom-and-Pop bank have been in bad financial shape for a long time (2015).

I don't think COVID-19 had much (if anything) to do with it.
 Quoting: Callin


Too late ..... Already tallied as a corona death !!
Anonymous Coward
User ID: 78490934
04/07/2020 06:58 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
longstanding capital and asset quality issues

how is it a bad thing to weed the weak out of the herd?
Anonymous Coward
User ID: 78490934
04/07/2020 06:58 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
---

The FDIC noted “The First State Bank has experienced longstanding capital and asset quality issues, operating with financial difficulties since 2015.” Moreover, the bank’s capital levels as of Dec 31, 2019 were too low for legally staying operational.

---


Sounds like this little Mom-and-Pop bank have been in bad financial shape for a long time (2015).

I don't think COVID-19 had much (if anything) to do with it.
 Quoting: Callin


Too late ..... Already tallied as a corona death !!
 Quoting: Anonymous Coward 3424979


good analogy

they are calling everything coronavirus

speaks to the wider scheme of why they did this right?
Anonymous Coward
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United States
04/07/2020 07:01 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
thread title is misleading wv has no cv flu to speak of.
Anonymous Coward
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04/07/2020 07:03 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
Banks will start to collapse soon!

[link to www.yahoo.com (secure)]

The First State Bank based in Barboursville, WV has become the first bank to fail since the coronavirus pandemic spread across the United States. The Federal Deposit Insurance Corporation (FDIC) made this announcement on Friday.

The FDIC noted “The First State Bank has experienced longstanding capital and asset quality issues, operating with financial difficulties since 2015.” Moreover, the bank’s capital levels as of Dec 31, 2019 were too low for legally staying operational.

Therefore, all four branches of The First State Bank, along with its deposits and certain assets were immediately acquired by MVB Bank Inc., a wholly-owned subsidiary of MVB Financial Corp. MVBF. As of Dec 31, 2019, it had nearly $139.5 million of total deposits and $152.4 million in total assets.
 Quoting: Anonymous Coward 77994583


yes hilbilly usa average iq 60what youxpect reast of ountry ok
Anonymous Coward
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04/07/2020 07:19 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
I suspect they were already in trouble long before this.
Anonymous Coward
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04/07/2020 07:20 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
byekitty
TGus

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04/07/2020 07:25 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
How is the Second State Bank doing? I expect they'll be next.
Anonymous Coward
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United States
04/07/2020 08:34 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
so a bank that had issues for five years finally bit it.

The weak will die, the strong will survive.
 Quoting: Anonymous Coward 76977638


And yet you’re still here.
Anonymous Coward
User ID: 76699577
United States
04/07/2020 08:36 PM
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Re: First Bank Collapses Amid Coronavirus Woes: More in Store?
Dude - get your shit straight! FIRST BANK and First State Bank are completely different entities. You made me shit myself...





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