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-- big name banks are certainly feeling the financial pain in the current economy some other smaller size counterparts are attracting new clients and making new loans.
In fact there are some guys out there that are creating.
Entirely new banks.
One that is Colorado he is the president of first green bank sold the company a few years ago came back into the market trying to create a bank with -- different idea a little more green offering loans to its employees who.
Bike to work as opposed to driving.
-- welcome to Fox Business thanks for joining us I admire your guts why in the world would you start a bank.
In this economy.
I'm thinking that you should be saying admire your stupidity or something.
No it that's made.
They have to have.
Honestly if if I've had play those 3 o'clock in the morning what was I thinking episodes.
When I embarked on this if I knew what I knew today eighteen months ago might have been a different story bit.
It's the best time in the country to start a bank and I think.
Our performance over the last six weeks is certainly.
Borne that out to be true.
-- -- didn't make doubt -- what kind of performance -- you talk about what kind of loans are you making in this environment.
What's it's a great question we.
We've been -- six weeks Tuesday.
And we've got almost ten million dollars.
On our books and loans we've got about 45.
Million in our pipeline.
Nineteen million in deposits are assets are up to 35 million dollars.
I mean stunning performance.
Compared to even my previous bank which we did very well but.
We're doing a lot of owner occupied loans and by that I mean building to a physician is building and a new a new building or refinancing is existing building.
There were not doing any development -- of course that's really frowned upon by the regulators and and there's not much activity in that arena in -- reporter right now anyway we're we're kind of -- at ground zero in the meltdown.
That's an interesting point -- about the regulators and -- -- how much you know obviously starting a new bank got a lot of regulations but how much.
Sort of control or -- back are you getting from the government at this point just in general.
Huge amount actually.
It's it's a rather disturbing amount.
And I've been talking to my cohorts that are in the industry other banks the is.
I'm fortunate I have -- toxic assets are.
For legacy deposits but it.
What we really need from the regulatory authority uses this time and flexibility.
To be able to work through some of these problems if you've got to developer who's.
Got enough cash to service the debt there -- -- reason to get in the bank and and force them.
To right that loan down to not renew it must work through this lesson values recover and and everybody comes out better.
-- and what you're saying is that the government it has a much heavier hand it may managing these banks.
Then the American public might realize.
Much much heavier and I I find that every day that I talked to a customer every day I thought through a prospect.
It's -- much every the somebody asked me what the hardest thing.
That I've done from a business perspective was in the last year and in without question.
It was did my charter approval the state of Florida division of banking was fabulous to work with.
The FDIC of course you have to have FDIC insurance or you'd you'd never be in business.
It was it was a much different.
-- -- Do you see that level of regulation changing.
At all I mean is this I know you've run banks to formally be sold to bank -- -- -- and non compete in -- That bank got -- able to compete again you jump back again.
How things change then and how do you see them changing.
I think it's gonna have to change I don't know win.
I think it's going to have to it's got to be part of the the foundation of our economic recovery is to let the bank's -- money again.
Most people don't realize we're restricted on the types of loans we can do.
We're using your capital as a measure as to how many.
Non owner occupied -- you can do how many development -- you can do.
So it's it's much more restrictive than it used to be.
In the old days if you exceeded your budget you got -- -- a boy and a pat on the back and you got one manager rating today if you exceed your budget.
They're wanting to know why your exceeding your budget.
If it's counter intuitive.
Well -- listen to how well the government's listening and they let you guys succeed because we need people like you to start new companies -- guess what you start a company.
You actually hire people -- -- for really bank right.
Thank you very much sir thank.
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