Fun facts about Lake Sunapee Bank of New Hampshire
(1) Lake Sunapee Bank is a wholly owned subsidiary of a holding company.
(2) Said holding company is "New Hampshire Thrift Bancshares."
(3) NH Thrift Bancshares (worth a bit over $1 billion at the time) in 2008 was approved for $10 million in TARP money by the US government.
(a) For those playing at home, TARP was the infamous "We're Giving Your Tax Dollars to the Banks for Free" loan program to "bail out" the banks.
(b) It was not intended for small banks. But any number of them took the free money and ran anyway.
(c) These were not the Good Guys.
(4) NH Thrift Bancshares (now worth quite a bit more, as they took that money in 2011 and used half of it to give out usury-type "loans" to small business in the states of NH and VT, per a number of public records, and bought another bank in NH earlier this August [more on that below]) has paid ZERO back on its TARP loan so far.
(a) Note it's a TARP loan. They have to pay it back. But TARP means they have no deadline that's publicly known. Nice, huh?
(b) Your government at work. With your tax dollars. Remember how Obama had to agree to extend these to smaller, state banks to placate the Republican congress-critters (who have interest in said banks)? Yeah, that's the part of TARP that NH Thrift Bancshares swooped in on. Makes me all warm inside.
(5) In August 2012, NH Thrift Bancshares took its ever-extended TARP "loan" and used it to buy out Bank of Nashua. Which it is consolidating with Lake Sunapee Bank as we speak. But they're not after getting bigger, no. They're a "small town bank." They're just after taking over NH and VT banking. With Treasury money from you and me.
(a) And foreclosing using predatory & possibly illegal practices.
(6) Today one Lindsey Camp, formerly listed on Linked-In as "Loan Specialist" and then "Account Resolution Specialist" -- and now listed as "Loss Mitigation Specialist" (see what they did there? yeah, bet you did...) - said not once, but four times on the phone with myself and baron_elric (I made her repeat herself, deliberately, throughout the conversation): "But we aren't part of the predatory lenders! We aren't a credit lending entity."
(7) NH Thrift Bancshares is listed as being one.
(8) NH Thrift Bancshares' Q2 report was down a bit in 2012.
(9) NH Thrift Bancshares also owns 50% of Charter Holdings (formerly Charter Trust).
(a) For those of you with a very old bingo card from my LJ: Charter Trust held my old revocable trust until they started with some very strange predatory and pretty hinky behavior, investment-company-wise: this was the same year all my contacts who were worth their salt left Charter Trust AND it was also the year it was coincidentally taken over by NH Thrift Bancshares and Charter's name was changed.
(2) Said holding company is "New Hampshire Thrift Bancshares."
(3) NH Thrift Bancshares (worth a bit over $1 billion at the time) in 2008 was approved for $10 million in TARP money by the US government.
(a) For those playing at home, TARP was the infamous "We're Giving Your Tax Dollars to the Banks for Free" loan program to "bail out" the banks.
(b) It was not intended for small banks. But any number of them took the free money and ran anyway.
(c) These were not the Good Guys.
(4) NH Thrift Bancshares (now worth quite a bit more, as they took that money in 2011 and used half of it to give out usury-type "loans" to small business in the states of NH and VT, per a number of public records, and bought another bank in NH earlier this August [more on that below]) has paid ZERO back on its TARP loan so far.
(a) Note it's a TARP loan. They have to pay it back. But TARP means they have no deadline that's publicly known. Nice, huh?
(b) Your government at work. With your tax dollars. Remember how Obama had to agree to extend these to smaller, state banks to placate the Republican congress-critters (who have interest in said banks)? Yeah, that's the part of TARP that NH Thrift Bancshares swooped in on. Makes me all warm inside.
(5) In August 2012, NH Thrift Bancshares took its ever-extended TARP "loan" and used it to buy out Bank of Nashua. Which it is consolidating with Lake Sunapee Bank as we speak. But they're not after getting bigger, no. They're a "small town bank." They're just after taking over NH and VT banking. With Treasury money from you and me.
(a) And foreclosing using predatory & possibly illegal practices.
(6) Today one Lindsey Camp, formerly listed on Linked-In as "Loan Specialist" and then "Account Resolution Specialist" -- and now listed as "Loss Mitigation Specialist" (see what they did there? yeah, bet you did...) - said not once, but four times on the phone with myself and baron_elric (I made her repeat herself, deliberately, throughout the conversation): "But we aren't part of the predatory lenders! We aren't a credit lending entity."
(7) NH Thrift Bancshares is listed as being one.
(8) NH Thrift Bancshares' Q2 report was down a bit in 2012.
(9) NH Thrift Bancshares also owns 50% of Charter Holdings (formerly Charter Trust).
(a) For those of you with a very old bingo card from my LJ: Charter Trust held my old revocable trust until they started with some very strange predatory and pretty hinky behavior, investment-company-wise: this was the same year all my contacts who were worth their salt left Charter Trust AND it was also the year it was coincidentally taken over by NH Thrift Bancshares and Charter's name was changed.