National State Bank of Metropolis, Metropolis, IL Bank Gagal - Episode 317

**Freesia Brindski** (0:01)
Good morning, good morning. Thank you so much for joining me. This is the podcast, The Endurance of Labor Laws. I'm your lovely host, Freesia Brindisi. Today is episode 317, and we're going to take a look at another failed bank. This one is called the National State Bank of Metropolis. Excuse me, I have hiccups. And this one was located in Metropolis, Illinois. But before we dive in, let me give a big shout out to my listeners because as usual, you guys are awesome. I love to see you here. So a big shout out to Quebec, Illinois, Texas, and New Hampshire. There are more and more people listening in from Quebec, and I think that's very interesting. That's a very good thing to see. Then in terms of internationally, a big shout out to Sweden, Brazil, Canada, the United States, and Bangladesh. There are more and more Swedes listening in, so we might want to do an episode on Sweden. And because I just, I don't know much about Sweden, I don't know much about their government. So it might be interesting to do a podcast episode about that country, because we definitely love the Swedes. They are really nice and kind people, and it's just a good group. I really love them very much. But good to see all of you here. So I am going to be reading from the fdic.gov website. So I'm not making any of this up. This is government record. It's out there. You can go to fdic.gov. And this is very interesting to see this. And this is information that we should have, because we are citizens of the United States. And we need to know when a bank closes and what happened. Now mind you, this bank closed a while back. This one again is the National State Bank of Metropolis. This one was located of course in Metropolis, Illinois. The bank that acquired it, that took it over, was Banterra Bank of Marion. And that's M-A-R-I-O-N or Marion, however you want to pronounce that. And this bank closed, had issues back in December 14th of the year 2000 So let's take a look at the quick press release here. And this one, there's not a lot of information because it was so long ago, but I really love to look back and see which banks went under, why they went under, if we're being told about it, and then which banks took them over. Because sometimes when banks, when other banks take them over, I hope they do well, but sometimes they do not. And considering that we are looking at banks from 24 years ago to start, it will be interesting to see if these banks that took them over are still in business and if they are being run appropriately, that kind of thing. So it's interesting to see the ebbs and the flow of the FDIC and how these things work, because this directly impacts you and me if you're a citizen of the United States. And also technically this affects the entire world. Because the United States, even though there's some people that do not like the United States, I don't know why, because we are a really good country, the United States is still number one. We are still a world superpower. We have a very strong economy, even though we are dealing with inflation due to the Biden-Harris administration and due to the Democrats that have been in charge of the House and the Senate. So they have passed a lot of bad legislation. And unfortunately, when bad legislation gets, I guess, enacted, it affects not only the United States, but our territories as well as the entire planet, because our economy affects everybody. So being that we are a world superpower, we have a responsibility to be good and true to our word, and also to be good and true to our citizens, and to make sure that our economy is robust and strong. And your economy cannot be robust and strong if you're practicing socialism, communism, or fascism. I think communism and socialism are worse than fascism in terms of economics and things of that nature. But all three are pretty bad. But, you know, it's one of those things whenever you get these flaky democrats into office, they lean towards socialism and they get extremely liberal. And being extremely liberal is not good for your country. It's not good for any country, but especially the United States, because that's why we're suffering right now. So I pray that suffering stops and that we get a good president office, which of course would be the Republican candidate, Donald Trump. And he can turn this thing around. He's really sharp and he's smart. He's a businessman. He understands the economy. And he knows really good people that know how to fix things. That's really important. But anyway, let's dive into the press release that was released by the FDIC. So it says on December 14th, 2000, the National State Bank of Metropolis, Illinois was closed by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation, also known as FDIC, and they were named Receiver. As Receiver, the FDIC is charged with winding up the business affairs of the failed financial institution. This includes the disposition of assets and liabilities of the failed financial institution and payment of dividends to approved creditors in order of priority. So here's the thing, if you're not approved, good luck. If you're not considered a priority, good luck. So luck doesn't work, so I say pray about it, because the God of Abraham will help you no matter what. The FDIC as Receiver has taken all necessary actions to conclude the affairs of the failed financial institution, made all dividend distributions as required by law, and the receivership estate is deemed terminated. So whenever it says the receivership estate is deemed terminated, that means that bank is no more. The FDIC has taken over and they're looking for another bank to take over those financial assets to help them to basically help save the bank. When I say save the bank, I'm talking about the depositors, not necessarily the actual bank, like the National State Bank of Metropolis. We're not talking about saving that actual bank, we're talking about saving the depositors from financial ruin because the people that were in charge of that bank were morons and idiots. Now what we've talked about in times past in a previous episode is that a lot of these financial gurus and these financial idiots that work at these banks, whenever they fail, they just go to another bank and start working. My personal opinion, I say, it says working as a comptroller and in the accounting world, gosh, it's been 14 years now, almost 15 years. You do not ever want to hire someone that was in a position of management or leadership if they were part of the problem at a failed bank. You do not want to bring in that stupidity into your financial institution or into your company, even if you're not a bank. Do not hire people that helped to tank and ruin a financial institution. Just be aware of that. So going on, the press release isn't very much, it's the usual blurb in terms of the FDIC. It says the FDIC issued a press release about the institution's closure. If you represent a media outlet and would like information about the closure, please contact the FDIC Public Affairs Office at phone number 202-898-6993.