The financial institution was at Such bad Financial Position That Its Application for the Taxpayer Bailout ended up being Withdrawn After Being refused

The financial institution was at Such bad Financial Position That Its Application for the Taxpayer Bailout ended up being Withdrawn After Being refused

  • Charleston Business Reported That First National Bancshares “Withdrew” Its Application For TARP Funds “Because Of Concern That Its Magnitude Of Nonperforming Assets Might Trigger Rejection.” “Like the Southern Financial Group, First National happens to be struck difficult by deteriorating estate that is real, especially over the coastline. It increased its supply for loan losings in 2008 from $1.4 million to $20.5 million. Nonperforming assets expanded to $75.5 million, or10.9% of loans as well as other real-estate owned, weighed against 3% in 2007 and 0.15per cent in 2006. The financial institution recently withdrew its application for TARP funds from the government that is federal of concern that its magnitude of nonperforming assets might trigger rejection.”
    • Very First National Bancshares Withdrew Their Application For TARP Funds Just Once They Were Refused. “Our application for involvement into the TARP Capital buy Program is not accepted. Consequently, we now have withdrawn our application.”

…Meanwhile, Adams ended up being Paid almost $70,000 to wait Board and Committee Meetings For First National Bancshares:

  • 2009: $3,200
  • 2008: $23,900
  • 2007: $20,400
  • 2006: $20,400

First Nationwide Bancshares Inc. SEC Filings, accessed 8/21/14

Adams happens to be Active in Conservative Politics – Associating Himself because of the Many Conservative people of the GOP

  • Adams Served Aboard Of Conservative Think Tank In Southern Carolina Established By Jim DeMint. “Retired U.S. Sen. Jim DeMint, president-elect of just one associated with the nation’s prominent conservative jora credit loans login think tanks, has created a conservative think tank in South Carolina. DeMint, a Greenville Republican whom invested 13 years in House and Senate, is spending $300,000 from their campaign that is remaining money establish the Palmetto Policy Forum. He will also act as chairman…The Heritage Foundation, where DeMint is president-elect, is using the services of state-based policy teams round the national nation, he said…C. Dan Adams, president and chief executive of Greenville-based the administrative centre Corp.”McClatchy, 2/6/13; Palmetto Policy Forum, accessed 8/21/14

Adams Has helped politicians that are several Cash

  • August 2011: Adams Planned To Keep Fundraising Reception For Rick Perry. “Texas Gov. Rick Perry will soon be conversing with sc voters and asking some to attain within their pockets as he makes their swing that is two-day through state this week. As well as headlining a fund-raiser when it comes to sc Republican Party in downtown Columbia Friday, the GOP presidential prospect will go to a fund-raiser at a personal residence simply outside Greenville that same evening. Relating to a content associated with the invitation that is fund-raising by CNN, a reception with Perry is supposed to be held during the house associated with the Capital Corporation President and CEO Dan Adams. ‘Sponsors’ can pay $5,000 per few, and ‘hosts’ will chip in $2,500 per few or $1,000 per person.”
  • Adams Served On Governor Nikki Haley’s Finance Advisory Committee. “Governor Nikki Haley today announced a statewide finance committee that is advisory. The committee, made up of thirty-two business leaders from all over sc, can help Gov. Haley plan a possible re-election bid.”

Adams Has added at Least $264,700 to effective Politicians and interest that is special

This has paid down for other people too. Through the years, Adams has added at the least $264,700 into the promotions of powerful politicians and interest that is special, which may have also donated a large amount of cash towards the promotions of elected officials.

Unique many many thanks to National People’s Action for enabling Allied Progress to utilize its considerable research on payday financing industry professionals.