Means less money could be available for lending
AMARILLO, TEXAS -- While we know that bank presidents aren't getting a lot of sympathy these days, Pronews 7 found one area where they should.
F.D.I.C. Insurance rates have gone through the roof, for example, take a look at the rate Amarillo National Bank paid for coverage over the past few years.
2007-$300,000
2008-$600,000
2009-6,000,000
Amarillo National Bank President, Richard Ware, says it a case of good banks bailing out the sub-prime mess of Indy-Man and Country Wide. Ware said, "all the little banks are hit...just as bad as banks our size and bigger banks. It's going to reduce lending in effect because you've got less money to lend."
