Bayport bank hopes to open Hudson office
October 12, 2011 at 9:39 am in Hudson Star-Observer
First State Bank and Trust of Bayport, Minn., has applied to open a branch office in Hudson. If the FDIC and Minnesota Department of Commerce approve the application, the office would open during the first quarter of 2012, according to bank president and CEO Peter J. Clements. Continue Reading
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what the heck are you talking about? This is exactly what economies need right now. People opening up new businesses. Great generalization saying “banks are failing”. SOME banks are failing. This opens up the door for more responsible banks to set up shop.
If you want, as Hudson grows, we can maintain your two bank theory and allow them to completely control the banking market in hudson. Plenty of new successful Hudson banks have not only employed people but given business owners access to capital that they may not otherwise get.
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This isn’t a new bank Brett. This is just a new branch of an existing bank. They have plenty of customers in the Hudson area.
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C’mon brett. Under your reasoning, the failed restaurants where pier, kozy and Agave now stand showed that Hudson had too many darn restaurants. OR maybe they closed because they were poorly managed, had a poor product, service, business model, etc. Their failure opened the door for a few of the best places in town.
A bank is no different. It is a business. More choices are always good for the consumer.
I for one an very excited to see another business move into that area of town. That old more4 parking lot could really be something special with the right idea, the motive and the $. This should be a good step…
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It wasn’t too many banks. It was too big of banks. I just don’t understand how you can be so against a SMALL business opening up shop in hudson in a building that sits vacant?? Who do you think is going to be more careless with their lending practices: Wells Fargo, who expects thousands of their loans to default? OR a SMALL bank who cannot afford huge defaults.
I’m sure this new bank is high on the list for government bailouts. As far as bailing out restaurants?? WITH THE CURRENT ADMINISTRATION…. WHO KNOWS.
Let’s say this bank DOES fail…. who is it going to hurt?? Nobody with under $100k inside it’s walls. It will have employed people to make its signs, tellers, marketers, cfo’s, janitors.
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Yes, too much easy credit, much of it forced on the banks by the federal government. And taxpayers shouldn’t be bailing out banks OR restaurants.
Once again, this is a BRANCH. If it ends up not having enough business for the bank, they can close it, just like a branch of any other business.
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yep- when the .gov started making banks give money to everyone-regardless of wheather they were going to/could pay it back…thats when the trouble started.
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