Seattle Bubble Forum Archive

I've been watching this company and other local banks for some 16 mos.

This is not surprising. It is my belief that they are going to have continued losses due to exposure to CRE and builders. It is a shame, but I saw it coming. Did they? I own no stock at Frontier at this time.

http://data.cnbc.com/quotes/ftbk

26% DOWN JUST TODAY.

And why doesn't the PI or the Times have a link to this on their websites? It's pretty important news, right? Or maybe they don't want to get blamed for media hype as the reason another local bank fails?

I did find this nugget:

http://www.king5.com/topstories/stories ... bb36c.html

Local economy is STRONG. They will be unaffected by this downturn. Yeah.. Right.

Frontier released a statement about their application to the Treasury's Capital Purchase Program. Supposedly rumors were circulating that they'd been denied, but they claim it's still being processed. The stock bounced off a <$2.00 low and is now nearly 3.50. Eek.

"Local economy is STRONG. They will be unaffected by this downturn. Yeah.. Right."

This is not very patriotic...

Heads are rolling at Frontier Financial. It's unfortunate, but there are numerous builders financed by Frontier that are struggling. Not a healthy scene.