Fremont Bank, a leading full-service community bank in Northern California, would like to clarify many erroneous claims of being associated with the Brea, California-based Fremont General Corporation (NYSE: FMT), including a media segment that recently appeared on CNN concerning Fremont General Corporation. In its recent broadcast regarding Fremont General, CNN mistakenly pictured Fremont Bank’s website. Fremont Bank officially announces that it is in no way affiliated with Fremont General or its wholly owned subsidiary Fremont Investment & Loan.
On Saturday, March 29, 2008, the Associated Press reported that Fremont General’s wholly-owned banking unit, Fremont Investment & Loan, is undercapitalized by regulatory standards and has recently been given 60 days by federal and state banking regulators to raise new capital or sell the banking subsidiary. This announcement concerned Fremont Investment & Loan and not the Northern California based Fremont Bank.
Fremont Bank is a $2 billion commercial bank based in Fremont, California that prides itself in being a locally owned, community bank with a full range of products and services. The Bank continues to successfully manage a significant portfolio of residential, consumer and commercial loans.
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timeasmymeasure
FREMONT BANK IS NOT AFFILIATED WITH FREMONT GENERAL CORPORTATION
Date: 2008-04-01 10:33 pm (UTC)On Saturday, March 29, 2008, the Associated Press reported that Fremont General’s wholly-owned banking unit, Fremont Investment & Loan, is undercapitalized by regulatory standards and has recently been given 60 days by federal and state banking regulators to raise new capital or sell the banking subsidiary. This announcement concerned Fremont Investment & Loan and not the Northern California based Fremont Bank.
Fremont Bank is a $2 billion commercial bank based in Fremont, California that prides itself in being a locally owned, community bank with a full range of products and services. The Bank continues to successfully manage a significant portfolio of residential, consumer and commercial loans.