Thursday, January 15, 2009
Tarrant County bank declines federal bailout money
Worthington National Bank, one of the few locally-owned and operated banks in Tarrant County, announced Wednesday that it has declined to take any of the bailout money through the Capital Purchase Program, part of the federal government's Troubled Assets Relief Program (TARP).
"Worthington National Bank is the strongest capitalized bank in every market in which we operate," said Worthington National Bank CEO Greg Morse. "We don't need a bailout, and we think it's wrong for banks to take taxpayers' money when they don't need it."
On a percentage basis, Worthington National Bank is the strongest capitalized bank in Fort Worth, Arlington and Colleyville, the three cities in which the bank currently has offices. Morse said the bank's strong position is due, primarily, to the bank's clean loan portfolio and a successful 2006 campaign that raised $15 million in capital.
Source: Worthington National Bank
