The lender was at Such bad Financial Position That Its Application for a Taxpayer Bailout Was Withdrawn After Being refused

The lender was at Such bad Financial Position That Its Application for a Taxpayer Bailout Was Withdrawn After Being refused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 Could Trigger Rejection.” “Like the Southern Financial Group, First National was hit difficult by deteriorating property assets, especially across the shore. 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 along with other estate that is real, compared to 3% in 2007 and 0.15percent in 2006. The financial institution recently withdrew its application for TARP funds through the authorities because of concern that its magnitude of nonperforming assets might trigger rejection.”
    • Very Very First National Bancshares Withdrew Their Application For TARP Funds Just Once They Were Refused. “Our application for involvement when you look at the TARP Capital buy Program will not be accepted. Consequently, we now have withdrawn our application.”

…Meanwhile, Adams had been Paid Nearly $70,000 to wait Board and Committee Meetings For First National Bancshares:

  • 2009: $3,200
  • 2008: $23,900
  • national payday loans coupons

  • 2007: $20,400
  • 2006: $20,400

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

Adams was Active in Conservative Politics – Associating Himself using the Many Conservative people in the GOP

  • Adams Served Up To Speed Of Conservative Think Tank In Southern Carolina Established By Jim DeMint. “Retired U.S. Sen. Jim DeMint, president-elect of 1 of this nation’s prominent conservative think tanks, has created a conservative tank that is think sc. DeMint, a Greenville Republican whom invested 13 years in home and Senate, is spending $300,000 from their staying campaign cash to 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 nation, he said…C. Dan Adams, president and leader of Greenville-based the administrative centre Corp.”McClatchy, 2/6/13; Palmetto Policy Forum, accessed 8/21/14

Adams Has Assisted A Few Politicians Raise Cash

  • August 2011: Adams Planned To Keep reception that is fundraising Rick Perry. “Texas Gov. Rick Perry are going to be conversing with sc voters and asking some to attain within their pouches as he makes his two-day swing through the state this week. As well as headlining a fund-raiser for the 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 regarding the invitation that is fund-raising by CNN, a reception with Perry is likely to be held in the home associated with Capital Corporation President and CEO Dan Adams. ‘Sponsors’ will probably pay $5,000 per couple, and ‘hosts’ will chip in $2,500 per few or $1,000 per individual.”
  • 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 across sc, may help Gov. Haley get ready for a prospective re-election bid.”

Adams Has added at Least $264,700 to effective Politicians and Special Interest PACs

This has repaid for other people too. Over time, Adams has contributed at the least $264,700 into the promotions of effective politicians and interest that is special, that have additionally donated a large amount of cash into the promotions of elected officials.

Unique many thanks to National People’s Action for permitting Allied Progress to make use of its considerable research on payday financing industry professionals.



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