| Industry: | Banking |
| Revenues: | Under $20 Million |
| Employees: | Under 99 |
| Woodbury bank is fourth in state to fail; Brickwell Community Bank, which bet heavily on real estate, was shut down by regulators.(NEWS) Star Tribune (Minneapolis, MN); 9/12/2009 ...the first quarter. "They were all over the Twin Cities doing development loans," said David Rom, president of Platinum Bank in Oakdale. "It was a foregone conclusion (that they would fail). It was a matter of when, not if." According... ...more |
| Did Moves By Parent Help Doom Ill. Thrift?(Taylor, Bean and Whitaker Mortgage Corp) American Banker; 10/1/2009 ...mortgages off its books, probably at a price greater than they were worth, so somehow they engineered this transfer into Platinum Bank with the intent of using it to buy these mortgages. This was one of the most egregious failures I've ever seen... ...more |
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