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Franklin Bank Under Federal Scrutiny Save Email Print
Posted: 7:00 PM May 20, 2008
 Last Updated: 2:41 PM May 21, 2008
 Reporter: KBTX Staff
Email Address: news@kbtx.com
43 comments
A | A | A

The Securities and Exchange Commission is investigating Franklin Bank Corporation.
According to a Bloomberg report, an internal probe by the bank, found accounting errors tied to real estate loans.
Over the last 12 months, Franklin's stock has plunged more than 90 percent.
Bloomberg reports that drop and the audit findings, make the bank a prime candidate for a take over.
Franklin Banks owns First National Bank of Bryan.
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Posted by: susan Location: navasota on May 28, 2008 at 09:41 AM
everything changes!!!! all these new banks will too oneday be bought by a larger bank! THAT'S THE WAY THE WORLD WORKS! MOST OF YOU WILL EAT YOUR WORDS! YOU CAN'T MAKE EVERYONE HAPPY NO MATTER WHAT YOU DO.
Posted by: Anonymous Location: NAVASOTA/ANDERSON on May 27, 2008 at 05:12 PM
YOU ARE ABSOLUTELY RIGHT. FNB OF ANDERSON MAY SMELL GOOD WHEN YOU WALK IN BUT GOOD LUCK TRYING TO GET ANYONE TO SMILE AT YOU AND HELP YOU. OH YEAH AND GO IN THERE IN DISGUISE BECAUSE BEFORE YOU TURN YOUR BACK EVERYONE KNOWS YOU'VE BEEN IN THAT BANK....WHAT HAPPEN TO CONFIDENTIALITY!!! AND CITIZEN STATE BANK, YOU’RE A TOTAL STRANGER IN THEIR LITTLE MOBILE HOME THEY HAVE FOR A BANK, WHAT A JOKE. YOU CAN TELL THEY WERE DESPERATE. I HAD LEFT PROSPERITY BUT BECAUSE OF THE NON-FRIENDLY SERVICE I HAVE GOTTEN ELSEWHERE MY HUSBAND AND I ARE GOING BACK WITH SHAME AND ALL. PROSPERITY BANK-BANK OF NAVASOTA SORRY FOR LISTENING TO ALL THE BAD COMMENTS ABOUT YOU GUYS. BECAUSE OF THE GREAT SERVICE WE GOT AT PROSPERITY BANK, WE ARE COMING BACK! WE REALIZED THAT THE NAME MAY HAVE CHANGED BUT THE FOLKS IN THERE ARE STILL THE SAME FRIENDLY PEOPLE THAT ARE WILLING TO ALWAYS HELP THEIR CUSTOMERS OUT
Posted by: Anonymous Location: Navasota on May 27, 2008 at 02:45 PM
Well I have to admit that I was one of the customers that left The Bank Of Navasota when it was changed over to Prosperity Bank. I knew not to go to FNB of Anderson cause before I left the bank the whole town would know I had been there and what I was doing there. So I tried the "new bank"....Citizen State Bank. What a mistake, the serviced sucked and they were not nice at all!?!?! Maybe I was just spoiled because I was used to getting smiles when I walked into Prosperity Bank/Bank of Navasota. They may be the "new bank" but they won't get too far because the service stinks!!!
Posted by: Kate Location: Navasota on May 27, 2008 at 11:08 AM
James, you need to understand that your credit is no good. That is why you couldn't get a loan with the bank of Navasota. One of the ladies helping you there is efficient, not both. Mike, keep your comments to yourself about Navasota. You have your nose so high, you might trip. You don't have a clue what you are talking about. The people that left the Bank of Navasota did so because they saw and received a better opportunity. And everyone of you would have done the same thing. If you say otherwise, you are a liar! Everyone can use common sense as to why the lines are shorter now.
Posted by: RJ Location: Anderson on May 25, 2008 at 05:45 PM
Is it true that the Bank President after 26Years the person why made the bank successful walked off the Job a few weeks back in Navasota?
Posted by: Mike Location: CS on May 25, 2008 at 03:28 PM
I have a FNB account. I will need to keep a eye on it. Funny thing State bank was taken over by the same people as the Navasota bank. I now find myself standing in line with past bank customers from State Bank. As for Navasota you can not make a judgment on anything coming from a back woods heavily economically disadvantaged community with the Lowest rated high school rating the state can give. It looks like people are trying to keep jobs in a town with very small Professional job market. Navasota's trailer house plant is even out of Business. The only advice coming out of Navasota I would take was is if I was on welfare. Navasota has decades of experience in this area. Keep us posted on FNB KBTX.
Posted by: Billy Location: Nasosota on May 25, 2008 at 01:11 PM
Sounds like a lot of people are fearful of losing a job At the bank in Navasota. The new banks in town are looking for help. It has to be hard for a bank giving good service and seeing the customers go to the other banks. Something must be wrong to be loosing veteran employees and long time customers to the competition with such Friendly Personal service.
Posted by: James Location: Navasota on May 24, 2008 at 03:58 PM
Yes before the bank of Navasota had three loan officers and it seemed like no one had time to see you. Now they have two and you don't sit and wait for very long and from what I have seen it is because these ladies are very efficient and knows the customer comes first. I haven't witnessed the outside phone calls to get a loan that I have heard talk about. Someone needs to get the facts right. I am also a computer user and they have internet banking which contributes to the shorter lines, you don't have to go to the bank for everything. They still offer the same friendly personal service and it is nice just to go into a place where someone will actually talk to you and care about you. I don't know all the details about Franklin Bank but Bank of Navasota should not be even compared to that situation. I have no complaints not even about the fees they are not that bad considering the service you get. You are my bank Thanks to all of you
Posted by: Katrina C Location: Wellborn on May 24, 2008 at 03:42 PM
Oh wow! We do all of our banking though First National bank, this is very disturbing. We haven't noticed any difference in the way that we are treated or anything at the bank, but then again, we don't currently have any loans out either, maybe that's the difference.
Posted by: mike Location: navasota on May 24, 2008 at 03:36 PM
I agree with nigel. Sounds like someone just wants to find the bad in anything related to the subject but then some people thrive on the bad. Get a life.
Posted by: Sam Location: Navasota on May 24, 2008 at 02:57 PM
Thank you Nigel! I was wondering the same thing, Bank of Navasota/Prosperity has always treated me and everyone I know with great care.
Posted by: nigel Location: bryan on May 24, 2008 at 08:20 AM
im pretty sure the article title says FRANKLIN bank, where did you guys get off talking about bank of navasota?
Posted by: BOB Location: Navasota on May 23, 2008 at 08:43 PM
I do enjoy the fast service at Bank of Navaosta now. I am the only person in the bank lines most of the times. Before it was full of people and now I can get in and out very fast. The fees are a lot higher then in the past but you save time with no one in line. The smaller staff now has the time to give you great personal service. Before the Bank had 3 loan officers and now just one, making it more enjoyable then have to talk with a diffrent person every time you need a loan. It only takes a few days more to get paper work or a loan approved from out of town. Why stand in line at one of those new banks?
Posted by: anonymous Location: navasota on May 23, 2008 at 08:32 PM
Wake up people change is a key word in life. Change is progress if addressed in a positive manner but I read a lot of negative energy in these comments. Fees--what hasn't gone up bread use to be 5 cents and gas wasn't $4.00/gal -called change. Being turned down for a loan usually warrants a reason & I'll bet some of those folks that had their homes foreclosed on wishes they had been turned down. Poor service--I have always and continue to receive excellent & friendly service from the staff many times going beyond their duties to accomodate things non bank related @"no charge". This transition has been a real test of loyalty and now when things are not to your benefit you are quick to criticize. I think the staff has adapted very well in spite of the hurdles & the ones who left I guess just couldn't handle it so good luck when change confronts you again. I believe in standing by people who have been there for you so Prosperity/Bk of Navasota staff my loyalty is with you! Good Job!!
Posted by: Anonymous on May 23, 2008 at 05:09 PM
I don't really understand why everyone is complaining about Prosperity Bank in Navasota. I have been a customer there for years and I have always been treated like a VIP customer. The employees go the out of there way to help someone out. Yes it may have changed but some of those people that left needed too!! I love walking in Prosperity Bank where the first thing I get when I walk in are greetings and smiles from Ana & Sandra. Those women at Prosperity of Navasota are doing one hell of a job. Prosperity employees do not listen to the negative people.... keep up the good customer service!!
Posted by: J Location: Grimes County on May 23, 2008 at 04:35 PM
I know this doesn't have to do with the story, but to the ones commenting on the Navasota bank--yes, I personally know someone who was told there would no longer be a position for her when Prosperity took over. She had a couple of weeks, I believe, to find a new job. Also, my parents were customers with The Bank of Navasota for YEARS and left them for a new bank when Prosperity took over because of alot of account screw-ups.
Posted by: Anonymous on May 23, 2008 at 03:36 PM
It is sad that so many negative comments are being made about the Bank of Navasota becoming Prosperity Bank from customers that were with the bank and were give excellent service then and had they stayed with the bank would still be receiving the same type of service. The employees that are still there work hard and care about their customers. Everything changes in life and in business. If you own your business, are you going to give away all your services? I don't think so. The employees that remained at the bank are there because they were thinking of the customers and wanting them to see familiar faces due to the change. Again, it is a shame that the devotion to the customers is not appreciated by the ones that left because they did not like change. Going to another bank is change as well. I support the employees that are still there and hope that others still do. Thank you.
Posted by: Allen Location: Bryan on May 23, 2008 at 02:43 PM
Well, I will admit that I was a customer with First National - strictly because of Martel Easterling. However, after having been at First National for over 17 years, I got tired of being nickled and dimed to death. So I've changed over to one of the school savings and loan. At least there I'm treated like a customer - NOT a number - nor a plebe that won't care if my paycheck is held for an extra day (even though it's all direct deposit).
Posted by: Anonymous on May 23, 2008 at 10:24 AM
Did Tony "quit upon request"?
Posted by: Anonymous on May 23, 2008 at 08:56 AM
The Bank of Navastsa has been a banking disaster since the take over. Two new banks have come to Navasota to take advantage of this. It become a fee driven bank now, with poor service. The new banks in Navasota can make decisions on the spot. The old bank of navasota just phone calls out of town. You can found the old Bank of Navasota Employees at some of the new area owned banks in town. A past 20yrs customer of Bank of Navasota.
Posted by: Anonymous on May 22, 2008 at 12:57 PM
"I'm not really sure where your getting your info from but NO employees were fired!" How many "quit upon request"?
Posted by: Anonymous on May 22, 2008 at 10:05 AM
I was hit two times with bad luck. I had Business and personal accounts with Bank Of Navasota 18 years and FNB-Bryan 5 years. If you have a Bank of Navasota-Prosperity account run like hell. Poor service and lost paper work. I was turned down on a loan after 18 years of business loans. Listed as a reason for turn down One advantage I found with Prosperity Is you do not have to stand in line anymore. You will be the only one in the bank In Navasota. As for FNB you are insured to $100,000 if you have more in the bank then this why take a chance. I remember the S and L bank mass and people lost money.
Posted by: Anonymous on May 22, 2008 at 09:15 AM
Comment to Paul: Yes, Prosperity Bank did take over The Bank of Navasota. Thats has been a sad situation for everyone. I'm not really sure where your getting your info from but NO employees were fired! Whether its Prosperity Bank or The Bank of Navasota there are still good people that work there. The employees always go the extra mile to help everyone out!!
Posted by: Verlene Location: Bryan on May 22, 2008 at 08:43 AM
I have to agree with LaCrecia, they do have very nice buildings. Like that one over on University. Those employees over there are so nice!!
Posted by: Local banking customer Location: brazos county on May 22, 2008 at 08:11 AM
The sad news is that you used to be able to bank at FNB or FAB or many others that were locally owned. Now all the big corporations have taken over and their customer service is the pits, that is if you can ever talk to a live person and not a machine. I have banked at Citibank (formerly First American) for about 6 years now. They have steadily gone downhill since their acquisition. Same with First National Bank in Franklin which was sold to Wells Fargo about 10 years ago. (Franklin, TX that is - no relation to Franklin Bank). Once the big guys come in - customer service goes out the window! I am all for progress, but was and am severely disappointed that the Adam family (First American) and the Bryan family (FNB) chose the almighty dollar over providing great hometown service. It is a shame. Sigh.....
Posted by: Paul Location: Navasota on May 22, 2008 at 12:42 AM
Looks like some Franklin Bank folks found KBTX.com! Play the spin, play the spin! It is not surprising to hear this same rap we have been going through in Navasota. Prosperity Bank took over our Bank of Navasota, and almost overnight, several long time employees either quit or were fired. I can name a ton of people that have changed banks because of their big bank mentality. The month to month checking and small savings customer is being snubbed by a bank that used to be a pillar of outreach to our mostly economically disadvantaged community. Good luck Bryan, I hope you guys get your bank back!
Posted by: LaCrecia Location: Bryan on May 21, 2008 at 06:54 PM
Verlene, I agree with your comment. I hear that they really are good to their employees and they have the best customer service. They even build new buildings when they are going broke.
Posted by: drive in beeper Location: bryan on May 21, 2008 at 05:51 PM
I recently went to the drive in at Franklin bank and dung in 5 times in a row, it took them 2 seconds to answer me! whatever happened to customer service? At least when first national owned it, they only took 1 second to answer me and my 500 questions about my account.
Posted by: phillis Location: bryan on May 21, 2008 at 05:46 PM
I agree with Verline, i have had good experiences with fnb and the employees do what they can for the customers. so many say they do not like the bank since franklin took over, its the same people and building but a different name, get over it!!!!
Posted by: Verlene Location: Bryan on May 21, 2008 at 05:40 PM
I dont know what any of you are talking about, I LOVE Franklin Bank. They are always so concerned about me and if I am happy, with their service. I hope they stay around for a long time!!!
Posted by: Anonymous Location: bryan on May 21, 2008 at 04:55 PM
I am a customer of the bank in bryan have been for 13 yrs.but sence franklin bank took over I have had so many problems that I never had with first national.I use to be able to recomend first national but not any more thanks to frankllin bank
Posted by: CONCERNED Location: LUFKIN on May 21, 2008 at 04:33 PM
I AM A CUSTOMER OF THIS BANK SINCE I WAS WITH THE SAVINGS BANK SYSTEM THAT THEY BOUGHT OUT IN NORTH EAST TEXAS! NO I HAVEN'T LIKED THEIR WAYS NEITHER! THE OTHER COMMENTS SHOWED THAT IT WASN'T JUST ME!! AND YES I'VE TAKEN A GOOD BIT OUT OF THERE SINCE THE FIRST OF THE YEAR! FRANKLIN BANK HAS BEEN BAD ABOUT TRYING TO GET YOU TO GO WITH SHORT TERM CD'S SO THAT THE RATE WOULD DROP BEFORE YOU WOULD RENEW AGAIN! SO I PULLED MINE AND WENT WITH LONGER TERM PLACES!! AND AS IN YOUR TOWNS CASE, IT WOULD BE GOOD IF THE ORGINAL OWNERS BOUGHT IT BACK! THEY ALWAYS RAN IT WELL WHEN THEY HAD IT!
Posted by: Concerned Customer Location: Bryan on May 21, 2008 at 04:18 PM
The bank has gone down hill ever since FNB was sold to Franklin Bank. They've regressed, instead of progressed. Their web site is terrible, it's ancient, it's like they've gone back in time. I know a lot of unhappy people, me included.
Posted by: CS Location: CS on May 21, 2008 at 02:46 PM
It seems like nearly ALL banks have lost touch with their customers. It is just a shame. And this falls into that same category really - of ethics and customer service.
Posted by: COURTNEY Location: BRYAN on May 21, 2008 at 12:52 PM
I HAVE HAD REALLY BAD EXPERIENCES SINCE THE TAKE OVER, AND HAVE RECENTLY CLOSED BOTH ACCTS THERE. I AM HOPING THAT THE LOCAL FAMILY GETS IT BACK.
Posted by: A 1st National Customer Location: College Station on May 21, 2008 at 12:13 PM
I think the Franklin take over was a big mistake. I do not like it at all.
Posted by: Concerned Customer Location: Bryan on May 21, 2008 at 11:11 AM
Since Franklin Bank took over, the bank has seemed to go "down Hill". I am very concerned about my account since they took over. Hope someone locally goes back in and gets it back.
Posted by: First National Bank Customer Location: Not Happy on May 21, 2008 at 11:07 AM
I would love to see the Bryan family buy the bank back..I to am not happy with the bank since Franklin to over!!!!!
Posted by: 1st Natl Customer Also Location: College Station on May 21, 2008 at 10:46 AM
Yes, I too hope that the Bryan family takes it back over - I have not cared for things since Franklin took them on in the first place - now I worry about the stability of my bank unless something changes quickly
Posted by: Former FAB Employee Location: College Station on May 21, 2008 at 10:44 AM
It is probably a safe bet that Don Adam will use some of his money from the sale of First American Bank to buy another bank in B/CS. I wonder if anyone that was laid off in that acquisition would be willing to work for him again?
Posted by: Concerned Location: Texas on May 21, 2008 at 10:37 AM
Who exactly is Franklin Bank Corporation? Article not clear.
Posted by: 1st National Customer Location: Bryan on May 21, 2008 at 09:33 AM
All I can hope is that the Bryan family will buy back our bank.
Posted by: tech on May 20, 2008 at 07:06 PM
it happens
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