As I read the comments on your post regarding HSB and Greg Johnson, I feel like I should chime in and provide another side of this story.
Over the past several quarters, examiners from the Fed have been visiting the Hebron Savings Bank. This is not unusual as they visit all banks and conduct audits to be sure that the banks are keeping accurate records and are following the "rules". The rules are both established by law and/or prescribed by Federal Reserve policy.
Recently, the Fed has been critical of the way HSB has been handling financial difficulties being experienced by some HSB customers. HSB has been reaching out to families and businesses and helping them keep their mortgages by restructuring loans, lowering interest rates temporarily, etc., in order to keep the loans serviceable. Sometimes this was necessary more than once a year as their financial positions changed. It seems logical that a bank would do much better to keep current loans serviceable than to foreclose - but that's not what the Feds want. The Feds have told HSB that it is no longer acceptable to assist its customers more than once a year. Greg Johnson found this position unacceptable.
As a former bank examiner, Greg knew that it looks better to have serviceable loans than it does to have excessive fore closures on the books. He also knows that it is better for the community to help families and businesses through hard time than it is to litter our communities with empty homes and businesses. This is one of the reasons HSB has a four star rating. Regardless of the negative effect this has on our communities, the Fed came down on HSB, threatening sanctions. This caused the board to take a strong stance against Greg Johnson and his efforts to maintain a strong relationship between the bank and the community.
Greg determined that it would be better for him to be able to work for a financial institution which shared his desire to foster such a relationship. THIS is why Greg Johnson left HSB to work for a financial institution in Delaware. I wish Greg much luck and I hope HSB, MY bank, finds someone else who shares his Greg's vision of a strong community.
Thank you.
63 comments:
yeah,right
We all must operate under the same set of rules
Can you say bullshit!! I cannot believe that his contract would allow him to work for another bank unless they bought him out of that contract. Well maybe he will move to Delaware. After he serves his time for fraud.
Why keep the new employer a secret if in fact he has a new job?
It's hard to comprehend why someone would resign on the spot under the circumstances described in this post.
Who says there was a "contract"? If he no longer works for Hebron Savings, he can go work anywhere he wants.
Haters gonna hate.........
Thank you Greg for your service to the bank and to the community. Best wishes in your new venture.
Not necessarily. Usually bank presidents have contracts. And they will have a non compete clause that will not allow that person to work at another financial institution. I still feel there is more to this.
I kept the new employers name out b cause I wouldn't want anonymous haters drawing negative attention toward them.
If it is because of FDIC whats the difference. They are going to be auditing that bank too. So he is going there and do the same crooked shit that he did here. He of all people should have known better if he was a former bank examiner. I would not have wanted that known.
Provident State Bank. It is already out!! They will receive some bad publicity so they better get prepared for the negative media.
Man this gets better and better. A FORMER BANK EXAMINER. He knew the ins and outs to be able to keep it going for this long. He should definitely known better.
Doesn't sound crooked to me. Sounds just like the Greg I know and have done business with. Good for him. He will continue to be a success.
Remove the façade and who else but Scott Tawes is revealed in this mess.
Can you say "Plantations"?
Thanks for posting this info. I have had only good actions & transactions with both Greg and HSB, for many years. I do think there are a lot of haters, and I noticed that only about half of the comments on the original post were related to Greg and/or HSB. My best wishes to HSB(my bank) and Greg Johnson.
Another bank hiring him sounds like a flawed decision similar to when the county rehired Jim Henderson after he had been forced to resign from the same employer. Once a bad person, always a bad person.
How could 500+ people be so wrong? I have no idea how but they were.
Bankers move around to different financial institutions all the time. No big deal.
he's a joke to the banking industry!!lol
I call B.S. His shady dealings has put the bank at risk. Giving board members high risk loans at very low interest rates is against the law!
I believe this! Problem is Greg endorsed many of these inside loans. Review the Bill & Wendy Riley example. Best bud, now family, bad loan from day one, continually covered up, when the rest of us wouldn't have been considered. It's theft!
4:30 - It's called a sheep mentality of negativism - I heard; someone told me that someone knows this; It's gotta be, why else.
I do know Greg was/is highly regarded by a lot of owners of small businesses. I do know that Greg developed HSB into a highly reputed bank. I also know of 2 people with strong connections to Greg who talked to him personally afterward and got a story similar to the scenario put forth here.
Putting together the information I have, from sources I impeccably trust, I too believe 500+ posted opinions were without merit.
What's that smell? BS. Greg is a small town crook plain and simple. You can try to paint him up as something else but at the end of the day..he's a crook.
Do you actually believe 500 people commented?
I really don't understand all the hate and negativity. doesn't say much for the commenters. he can't be all bad. what a shame...
Why do I get the feeling the air has not cleared yet?
Anonymous said...
It's hard to comprehend why someone would resign on the spot under the circumstances described in this post.
February 28, 2015 at 3:29 PM
I agree with you. The anonymous poster makes these claims then doesn't sign their name. Knows way to much to be a typical customer.
Can you say Damage Control!!
I can't say as to why he left, but I can attest to the story. They restructured my mortgage several times over the last few years to enable us to keep our home. Thanks to them, we still have our home now that things have gotten better.
Anonymous Anonymous said...
I kept the new employers name out b cause I wouldn't want anonymous haters drawing negative attention toward them.
February 28, 2015 at 3:40 PM
Why didn't you sign your name then?
Anonymous said...
Remove the façade and who else but Scott Tawes is revealed in this mess.
Can you say "Plantations"?
February 28, 2015 at 4:07 PM
Anonymous said...
Thanks for posting this info. I have had only good actions & transactions with both Greg and HSB, for many years. I do think there are a lot of haters, and I noticed that only about half of the comments on the original post were related to Greg and/or HSB. My best wishes to HSB(my bank) and Greg Johnson.
February 28, 2015 at 4:17 PM
Thanks for thanking yourself for posting this lying crap. (your bank) wink wink.
"My best wishes to HSB(my bank) and Greg Johnson."
"I wish Greg much luck and I hope HSB, MY bank, finds someone else who shares his Greg's vision of a strong community."
Anonymous said...
I believe this! Problem is Greg endorsed many of these inside loans. Review the Bill & Wendy Riley example. Best bud, now family, bad loan from day one, continually covered up, when the rest of us wouldn't have been considered. It's theft!
February 28, 2015 at 5:14 PM
Ironically I just heard Wendy Riley is retiring from the Wicomico County Court System? Is there a connection?
Anonymous said...
Another bank hiring him sounds like a flawed decision similar to when the county rehired Jim Henderson after he had been forced to resign from the same employer. Once a bad person, always a bad person.
February 28, 2015 at 4:21 PM
Well aren't they getting ready to rehire Jim Terrell after he capitalized on the big early retirement deal? What's wrong with that picture?
jim said...
What's that smell? BS. Greg is a small town crook plain and simple. You can try to paint him up as something else but at the end of the day..he's a crook.
February 28, 2015 at 5:27 PM
I believe all the positive comments on here are from Craig, I mean Greg himself.
Anonymous said...
I really don't understand all the hate and negativity. doesn't say much for the commenters. he can't be all bad. what a shame...
February 28, 2015 at 5:40 PM
Thanks Craig.
Anonymous said...
4:30 - It's called a sheep mentality of negativism - I heard; someone told me that someone knows this; It's gotta be, why else.
I do know Greg was/is highly regarded by a lot of owners of small businesses. I do know that Greg developed HSB into a highly reputed bank. I also know of 2 people with strong connections to Greg who talked to him personally afterward and got a story similar to the scenario put forth here.
Putting together the information I have, from sources I impeccably trust, I too believe 500+ posted opinions were without merit.
February 28, 2015 at 5:14 PM
Sign your name Greg otherwise this comment is without merit as well.
Anonymous said...
It's hard to comprehend why someone would resign on the spot under the circumstances described in this post.
Fairly simple if you picture the conversation like so - FDIC says you start right now; Board says Got that Greg; he says Nope; Board says do it or go; Greg says Bye Bye.
BTW - enjoy seeing one anonymous poster whining about another's anonymity. Jus sayin...
..and those who were never taught how to respect gonna hate and villafy
Robin Hood
FDIC and the Federal Reserve Bank don't care about people. They only care about their precious money. Thank God there are people like Greg Johnson out there to try to make a difference.
Anonymous said...
Anonymous said...
It's hard to comprehend why someone would resign on the spot under the circumstances described in this post.
Fairly simple if you picture the conversation like so - FDIC says you start right now; Board says Got that Greg; he says Nope; Board says do it or go; Greg says Bye Bye.
BTW - enjoy seeing one anonymous poster whining about another's anonymity. Jus sayin...
February 28, 2015 at 6:25 PM
One anonymous poster doesn't have anything to hide. The other one does. Is that easy enough for you to comprehend yet?
Isn't this the reason many use community banks we want them to know us, help and understand when things may happen beyond our control. I applaud Mr Johnson for standing by his community
6:11......I am the 4:17 poster, not sure what your point is except that I do consider HSB as MY bank. I've dealt with them (checking, savings, mortgage, CD) for many years....long before Greg Johnson, almost back to the Clarence Fox times. So I absolutely consider HSB as MY bank. I can only say that you have your jaded opinion and I have mine. Don't choke on all that BS you're stirring.
Excuse me, I think Scott Tawes and Brian Twilley also care about money!
Maybe I care about money too. Is there a spot on the board for me?
Interesting letter.
Banks with lots of non-performing loans get downgraded and dinged.
There is a certain wisdom and practical approach to revising a loan that is headed for the dumpster. Half of something is better than 100% of nothing.
But the Feds expect everyone to play by the same rules, whether they make sense or not.
Taken to extremes the bank ends up with a lot of loans that appear healthy but are barely viable at the new rates. In the process the margins and returns expected when the initial loan was made are greatly reduced.
Something would have to fall out.
I agree the Feds have about zero interest in individual cases and just want conformity with their current regs. Recall how they zapped Second National a few years back when it was by all accounts solvent.
Sounds like an updated plot line for a remake of "It's a Wonderful Life".
Sand Box John
Only Greg and HSBC know the true story. Who are we to judge? Are all of the negative commenters without fault throughout their lives? I think not..so STFU.
Without knowing the source of this letter it is suspect at best. I know for a fact Greg did not decide to leave HSB; he was told to leave. Further, he did not resign to take another position as he has not been released from his no-compete clause. I have heard rumors the bank may free him to seek another position though it has not happened yet.
Bottom line is Greg was given a choice: be fired or resign. There was no pressure from an outside agency. It was all internal due to questionable business practices.
Once again the source of the letter is not credible.
Can you say cover up? All Banks have pressure to manage their loan portfolio with prudent care. A Bank President would not be pushed out because of being overly cautious on writing off bad loans. Stick with the comments of the first post.. It's the truth, Johnson and the Board had many sweet heart deals that you will never hear about.. Just the nature of the Banking world.
Anonymous said...
Remove the façade and who else but Scott Tawes is revealed in this mess.
Can you say "Plantations"?
February 28, 2015 at 4:07 PM
Can someone please splain what the "Plantations" is?
Anonymous said...
Anonymous said...
It's hard to comprehend why someone would resign on the spot under the circumstances described in this post.
Fairly simple if you picture the conversation like so - FDIC says you start right now; Board says Got that Greg; he says Nope; Board says do it or go; Greg says Bye Bye.
BTW - enjoy seeing one anonymous poster whining about another's anonymity. Jus sayin...
February 28, 2015 at 6:25 PM
I noticed you didn't sign your name. Just sayin...
Anonymous said...
Robin Hood
February 28, 2015 at 7:03 PM
He was no Robin Hood. Robin Hood didn't steal from the rich and keep for himself. Just sayin...
Anonymous said...
FDIC and the Federal Reserve Bank don't care about people. They only care about their precious money. Thank God there are people like Greg Johnson out there to try to make a difference.
February 28, 2015 at 7:47 PM
Greg you must have been bored last night. Surely you had enough money left over to take the family out for a night on the town on a Saturday night. Ahh... To embarrassed to show your face still. Gotcha.
Anonymous said...
6:11......I am the 4:17 poster, not sure what your point is except that I do consider HSB as MY bank. I've dealt with them (checking, savings, mortgage, CD) for many years....long before Greg Johnson, almost back to the Clarence Fox times. So I absolutely consider HSB as MY bank. I can only say that you have your jaded opinion and I have mine. Don't choke on all that BS you're stirring.
February 28, 2015 at 8:53 PM
Oh you really do know what the commenters point is. You are the one that is going to choke on your own Bullsh!t Greg.
Anonymous said...
Isn't this the reason many use community banks we want them to know us, help and understand when things may happen beyond our control. I applaud Mr Johnson for standing by his community
February 28, 2015 at 8:14 PM
Oh Lord!! Greg is on a roll!! Greg no one is going to change their mind about you or what you did to "My Bank."
Anonymous Anonymous said...
Interesting letter.
Banks with lots of non-performing loans get downgraded and dinged.
There is a certain wisdom and practical approach to revising a loan that is headed for the dumpster. Half of something is better than 100% of nothing.
But the Feds expect everyone to play by the same rules, whether they make sense or not.
Taken to extremes the bank ends up with a lot of loans that appear healthy but are barely viable at the new rates. In the process the margins and returns expected when the initial loan was made are greatly reduced.
Something would have to fall out.
I agree the Feds have about zero interest in individual cases and just want conformity with their current regs. Recall how they zapped Second National a few years back when it was by all accounts solvent.
February 28, 2015 at 9:18 PM
Forty nine comments and almost ALL of them are positive in favor of Greg compared to over 500 comments and almost ALL of them against poor Greg. I bet all of last nights letters were from the same IP address. LMAO.
Anonymous Anonymous said...
Only Greg and HSBC know the true story. Who are we to judge? Are all of the negative commenters without fault throughout their lives? I think not..so STFU.
February 28, 2015 at 10:29 PM
Nice deflection there. Yep, I gots some skeletons in my closets. (Hangs head low.)
Not as bad as this though Greg. LMAO
Anonymous said...
Without knowing the source of this letter it is suspect at best. I know for a fact Greg did not decide to leave HSB; he was told to leave. Further, he did not resign to take another position as he has not been released from his no-compete clause. I have heard rumors the bank may free him to seek another position though it has not happened yet.
Bottom line is Greg was given a choice: be fired or resign. There was no pressure from an outside agency. It was all internal due to questionable business practices.
Once again the source of the letter is not credible.
February 28, 2015 at 10:31 PM
Thank you very much and we all know the source of the so called "letter" is obviously from Greg himself or his family members. Someone with intimate knowledge of the banking industry like a bank director would know, not like a casual neighbor or bank teller would know.
If any of youjealous liberal section 8 residents that are posting before you leave spend your welfare checks were actually in business you would appreciate the fact that Greg has been a true leader to the business community and will be missed. Its sad that strangers that don't know the good people involved in this story have to spout negativity. Best wishes Greg.
To the commenters that state there's no validity to this letter because there's no name attached, that's complete BS.
Here at Salisbury News, based on years of evidence of RETALIATION, I do NOT publish the authors name.
HOWEVER, I know who they are and I can assure you this letter did NOT come from Greg or anyone related to Greg.
That's the end of that.
Joe,
You may know who posted the letter but that does not mean the letter is not biased. This letter had an agenda to make Greg look good. The points noted are not completely true. Many facts have been ommitted and some of the facts are greatly distorted.
Amen!!! Thank god someone stands by him...
Why don't we not mention people's names in here.. And you know if you know them,people's names you must be close to Greg n that's a scummbag friend
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