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Posted by Jerry in Idaho [24.223.94.244] on Friday, February 15, 2013 at 01:21:38 :
In Reply to: Re: Silver Dollars OT posted by Sherman in Idaho [24.32.202.166] on Thursday, February 14, 2013 at 22:40:33 :
When I first moved to Sandpoint I started banking at Bank of Idaho. First building you came to when across the long bridge on the
Sandpoint side. I built 6 or 8 houses by borrowing $5000 on my signature and my loan officer's trust. After a few years, First Interstate (home base: Calif.) bought out Bank of Idaho. Next time I went in to borrow to start a house, same loan officer said I needed collateral, or a signed letter of guarantee from the customer's bank that they would pay fund the mortgage. I asked why? Am I not the same guy you loaned money to on a signature? He could only respond, truthfully. The new bank had different policies. Apparently Calif. owned banks were not good with signatures and trust alone. You can tell you're getting old when you can remember the good old days.