The lender was at Such bad Financial Position That Its Application for a Taxpayer Bailout ended up being Withdrawn After Being refused Leave a comment

The lender was at Such bad Financial Position That Its Application for a Taxpayer Bailout ended up being Withdrawn After Being refused

  • Charleston Business Reported That First National Bancshares “Withdrew” Its Application For TARP Funds “Because Of Concern That Its Magnitude Of Nonperforming Assets Might Trigger Rejection.” “Like the Southern Financial Group, First National is struck difficult by deteriorating real-estate assets, especially over the shore. It increased its supply for loan losings in 2008 from $1.4 million to $20.5 million. Nonperforming assets expanded to $75.5 million, or10.9% of loans as well as other real-estate owned, compared to 3% in 2007 and 0.15percent in 2006. The financial institution recently withdrew its application for TARP funds through the government because of concern that its magnitude of nonperforming assets could trigger rejection.”
    • Very Very First National Bancshares Withdrew Their Application For TARP Funds Just Once They Were Refused. “Our application for involvement into the TARP Capital Purchase Program is not accepted. Consequently, we now have withdrawn our application.”

…Meanwhile, Adams ended up being Paid almost $70,000 to wait Board and Committee Meetings For First National Bancshares:

  • 2009: $3,200
  • 2008: $23,900
  • 2007: $20,400
  • 2006: $20,400

Very First National Bancshares Inc. SEC Filings, accessed 8/21/14

Adams happens to be Active in Conservative Politics prosper personal loans com login – Associating Himself using the Many Conservative users of the GOP

  • Adams Served Up To Speed Of Conservative Think Tank In Southern Carolina Launched By Jim DeMint. “Retired U.S. Sen. Jim DeMint, president-elect of 1 associated with nation’s prominent conservative think tanks, has created a conservative think tank in sc. DeMint, a Greenville Republican whom invested 13 years in home and Senate, is spending $300,000 from his campaign that is remaining money establish the Palmetto Policy Forum. He will also act as chairman…The Heritage Foundation, where DeMint is president-elect, is using the services of state-based policy teams round the national nation, he said…C. Dan Adams, president and leader of Greenville-based the administrative centre Corp.”McClatchy, 2/6/13; Palmetto Policy Forum, accessed 8/21/14

Adams Has Aided A Few Politicians Raise Cash

  • August 2011: Adams Planned To Hold Fundraising Reception For Rick Perry. “Texas Gov. Rick Perry will likely to be conversing with sc voters and asking some to attain within their pouches as he makes his swing that is two-day through state this week. As well as headlining a fund-raiser when it comes to South Carolina Republican Party in downtown Columbia Friday, the GOP presidential candidate will go to a fund-raiser at an exclusive residence simply outside Greenville that same evening. Based on a duplicate associated with fund-raising invitation obtained by CNN, a reception with Perry will soon be held during the house of this Capital Corporation President and CEO Dan Adams. ‘Sponsors’ will probably pay $5,000 per few, and ‘hosts’ will chip in $2,500 per couple or $1,000 per person.”
  • Adams Served On Governor Nikki Haley’s Finance Advisory Committee. “Governor Nikki Haley today announced a statewide finance committee that is advisory. The committee, made up of thirty-two business leaders from all over South Carolina, can help Gov. Haley get ready for a prospective re-election bid.”

Adams Has added at Least $264,700 to effective Politicians and Special Interest PACs

It offers reduced for other people too. Through the years, Adams has contributed at the least $264,700 towards the promotions of effective politicians and interest that is special, which may have additionally donated big amounts of cash towards the promotions of elected officials.

Unique many thanks to National People’s Action for enabling Allied Progress to utilize its research that is extensive on financing industry executives.

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