Heritage Bank of Nevada, with five branches in northern Nevada, just turned down $8.6 million in strings-attached “bailout” money from President Obama, with bank President Stan Wilmoth telling the Reno Gazette-Journal that they are “a community bank with local control and don’t want the federal government to dictate terms to our customers.”
Wilmoth added that after reviewing the terms of the receiving the bailout money and the relative strength of Heritage Bank, “we decided we didn’t need it.”
Turning down $8.6 million in “free” money? That takes brass ones. And should be rewarded. I don’t know about you, but I’m moving some of my bank accounts to Heritage, especially after reading this on the bank’s website:
“Still curious about the strength and security of Heritage Bank?” Wilmoth writes. “I invite you to call either my office at 775-321-4110, or my home at 775-626-6446. I would love to hear from you.”
How many bank presidents list their home phone numbers on their websites?
