Bank closing criticized
First National Bank has announced that this February it will be closing its Old Trails Office, which serves Henry Clay Township and the surrounding area.
When I called the number that was on the letter the bank sent I was told that the bank would close no matter what. I was also told that the bank was and still is profitable
I was told the reason for the closing was that the bank had shown no growth. I was also told that without growth banks get sold on the stock market.
First National Bank is in the process of buying Parkvale Bank. Does this mean Parkvale has shown no growth?
This helps explain why the fedral government had to bail out the banking system. Maybe the banks should worry more about profits than growth.
I would just hope my vote on the next bailout would count.
Curtis Hager
Markleysburg