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Seacoast Banking Corp. of Florida Message Board

  • imlostinyou imlostinyou Feb 25, 2009 1:14 AM Flag

    Why invest in Seacoast?

    They are in severe trouble:

    "The Comptroller has found unsafe and unsound banking practices relating to asset quality and earnings performance at the Bank".

    See entire article:

    http://tinyurl.com/b37na6

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I can feel the love.

    • This Bank doesn't suck. They would have to IMPROVE to reach "suck" status.

      I have been posting for two years, when the stock was $22 a share telling people this was a dog. They run the bank like it was their own personal piggybank and Dennis Hudson III doesn't do a damn thing to earn $500,000 a year.

      How the hell do you pay three people $500k a year in a small community bank? Just stupid.

      When this stock was $27, Mr. Hudson said a potential buyer would need a "Big Checkbook". What a delusional fool.

      WHY DOESN'T ANYONE IN MANAGEMENT EVER GET FIRED??????

    • If they were so good at their jobs, why did they position the bank for failure. Any incompetent employee would be fired but noooo they give themselves raises.

    • I agree 100%, that is why I tell everybody to get their money out of that place. They only care about making money for the top and everybody else gets ripped off. Employees are thrown out the door. Don't worry, I file suit against them every chance I get, and we always win.

    • Let me tell you how Seacoast treats their employees. This young lady I know worked for Seacoast for 13 1/2 years in the mortgage department. She was a loyal employee who worked hard to reach the position as mortgage processor. Seacoast hired a new mortgage department supervisor who was being laid off at National City Bank. This new supervisor laid off the young lady I mentioned above who is a single mom with a mortgage and one other girl. This new supervisor then hired 2 of her friends that were laid off at National City Bank. Jean Strickland President/COO received information and a letter in reference to what happened but does nothing about it. This is unconscionable and immoral. As far as I'm concerned Seacoast deserves to go under and I believe everyone who has an account with Seacoast could do better banking somewhere else.

    • Today the stock will settle for less than $3.00 a share.

      • 1 Reply to bradkahoona
      • Let me tell you how Seacoast treats their employees. This young lady I know worked for Seacoast for 13 1/2 years in the mortgage department. She was a loyal employee who worked hard to reach the position as mortgage processor. Seacoast hired a new mortgage department supervisor who was being laid off at National City Bank. This new supervisor laid off the young lady I mentioned above who is a single mom with a mortgage and one other girl. This new supervisor then hired 2 of her friends that were laid off at National City Bank. Jean Strickland President/COO received information and a letter in reference to what happened but does nothing about it. This is unconscionable and immoral. As far as I'm concerned Seacoast deserves to go under and I believe everyone who has an account with Seacoast could do better banking somewhere else.

    • I agree, but the bank is very closely held and as most of the top banks in the country are bankrupt, the feds have their hands full b/c they have been asleep for the last 20 years.

    • The spending done by these executives were excessive, I spent all the money given to me. So, I know.

    • win, that is a good summary. i would like to see the books to determine the lifestyle expenditures by executive management at the expense of shareholders and other employees. Anyone can run a bank during good times, but we see who's swimming naked now that the tide is out.

    • Try to remember that for every heartless and clueless scumbag executive officer at Seacoast there are 50 well meaning, hard working regular folks who rely on this institution for their livelihood, as well as countless little old ladies who have owned Seacoast stock for 40 years. So rather than hope the bank fails, I hope they simply boot the smug idiots who are responsible for the bank's troubles, and bring in a new, better corporate management team that understands the purpose of a community bank is to 'serve' the needs of its community, not provide a life style cash flow for a select few executives.

    • View More Messages
 
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