A new lawsuit has been filed by three bank shareholders claiming they were fraudulently induced into investing by former CEO Aaron Johnson, who had been elevated to that post in 2016 at age 34. After being the focus of expansive bank marketing efforts, Johnson was abruptly replaced as president in February, but prior to his […]
FDIC
Posted inNews
Insufficient funds
Less than a year after opening a branch in Oklahoma City’s Midtown district and reporting state-leading growth, Farmers Bank of Carnegie quietly removed its president after a bank examination resulted in a corrective order from Federal Deposit Insurance Corporation (FDIC) and Oklahoma State Banking Department. In addition, the bank and its former CEO have been […]
Posted inNews
Bank shot
But those in banking before the advent of the Internet tell a far more emotional story of high-flying finance that ended in a spectacular supernova, changing the banking industry forever. Thursday marks the 30th anniversary of Penn Square’s failure. Those in the industry still remember it like it was yesterday. In 1982, James Finch was […]