The vision of First Independent Bank is to create the premier community bank driven by exceptionally motivated colleagues, building value for customers, shareholders, the community and each other.
Our executive team will blog their thoughts and ideas to create an atmosphere that consistently promotes an extraordinarily pleasant experience for our customers, colleauges, shareholders, and communities.
Thursday, April 9, 2009
Do you keep hearing that banks aren’t lending right now? Or that they’re being hyper-conservative with their lending?
With the overall economic challenges out there, it might be true that the banks are maybe looking a little closer at their deals. And it’s more likely a result of having their hands slapped too often with customers who can’t pay and are having their collateral (homes) foreclosed upon.
Banks also have to be a little more careful because they have federal regulators that come in and review their loans. If the loans aren’t performing, the Feds make them write the loans off which affects the bank’s income statement. It’s really no fun for anyone; but that’s what’s going on.
Banks that have been conservative and smart in their lending practices in the past (like this one) are less apt to have what we might call “problem credits”. Banks that have practiced this type of lending are going to be the ones to last during times like these and they are the ones who will... »
Posted by admin at 3:23 pm
Monday, March 30, 2009
YOUR TURN
Reno Gazette-Journal (NV)
November 11, 2008
By Jim DeVolld
OK, times are tough for Northern Nevada for the first time since the late 1970s. Yet we have enjoyed a continued level of prosperity for three decades. I have many people talking to me concerned about their businesses, their jobs and their ability to care for their families.
Ronald Reagan once said a recession is when your neighbor loses his job, and a depression is when you lose your job — lots of truth to that statement.
The greater Reno-Sparks area is a wonderful community full of terrific people. So what do we do to help ourselves out of this downturn? I suggest one major thing we can all do starting now:
Shop at home!
This might sound too easy or oversimplified, but think about the impact this could have on our entire community.
More local sales registers ringing, more people with jobs, more money circulating right here at home. Not a bad thing. It could be one big step... »
Posted by admin at 11:56 am
