That's right, Glacier Bank turned down the bailout money.
One more reason to love Montana.
What's not to love about a state that threatens succession over the Heller decision and is at it again over the made in Montana firearms bill. Why the Freestaters chose New Hampshire I'll never know
"Also, then the government would become a shareholder in the bank. Philosophically, we sure didn't think it was a road we wanted to go down. " -President and Chief Executive Officer Mick Blodnick
Take that Bank of America!
And what road are they talking about? Maybe the Road to Serfdom?
We've been banking with BoA by default since they took over the local Vegas bank we had an account with some 15 years ago.
But here's the thing, when we move back to Montana this spring/summer, I'm closing that piece of crap account and opening one with Glacier.
For me to say anything positive about a bank is bordering on a miracle.
Those who have been regular readers know that I was completely traumatized by a bank when at nineteen years old, the Mormon credit union I belonged to made me call my mother from the manager's office when I wanted to withdraw money.
The money was to purchase a car with my boyfriend.
Buying a car together suggested we lived together, which suggested we had sex together, which suggested the bank manager had to get my mom on the phone right away (ya, the same guy I married and have five children with).
So anyway, Mick Blodnick, I fully support what you're doing but if you ever try to make me call my mother, it's over.
Nation's No. 1 bank turns down bailout money
By NANCY KIMBALL/Daily Inter LakeGlacier tops financial scorecard
Glacier Bancorp of Kalispell made national headlines twice last week.
Bank Director magazine named it the best bank in the country. And Glacier announced it would take no bailout money from the federal government's Troubled Assets Relief Program.
President and Chief Executive Officer Mick Blodnick is honored that the nationally respected magazine put the bank holding company in the lead spot in its annual ranking of the top 150 performers nationwide.
But there's more to the story.
"What we as a company, all of our 11 banks collectively, take more pride in is the fact that for the last five years we have been in the top five," Blodnick said Friday. "We were number two last year and number three the year before.
"Number one is nice," he said, "but all of us feel more proud of the fact that consistently we have been up there for some time."
Glacier Bancorp, with $5.03 billion in assets, is the holding company for Glacier Bank in the Flathead Valley and 10 other independent banks in Montana, Idaho, Wyoming, Utah, Colorado and Washington.
The magazine's top ranking is compiled from six different criteria measuring return on average assets, return on average equity, two measures of capital adequacy, and two indicators of loan quality.