Our bank was sold as of January 1, and I am not a happy camper.
We opened an account with Granite Bank in Keene 14 years ago. We were quite satisfied. About 6 years ago, Granite was bought by Chittendon Bank of Burlington Vt, and merged into its’ subsidiary Ocean Bank, of Kennebunk ME. It didn’t thrill me, but Kennebunk and Burlington are my kind of place, and the bank was run by my kind of people.
Well, now Ocean bank is a division of People’s United Bank of Bridgeport CT, my mortgage has been sold to EverHome Bank of ‘somewhere I’ll never go’, FL and the Hillsboro office has been sold to Laconia Federal Savings. In my world that’s 0 for 3.
I’m sure that PU has a great line about core business and maximizing return. They’re also doing the Pac Man bank thing just as the primary practitioners of that business plan are begging for an undeserved taxpayer bailout. Also, everything they’ve done is exactly what they’d do if they were kiting the whole thing, were overstretched and had to dump assets to make the deal fly. Do you want your money in a bank that acts like that? I don’t.