be interesting to see who the BRCC PAC donated to…
https://docquery.fec.gov/cgi-bin/forms/C00810911/1576898/
and the donations are for a small snippet of time
https://twitter.com/cmonkman111/status/1595475725016236032/photo/1
but here's something interesting
https://unicourt.com/case/pc-db5-tang-capital-partners-lp-v-brc-inc-1187717
https://www.1791management.com/_files/ugd/0282c9_959dc2c1e6524b128f9c833eb302ad43.pdf
somehow or another BRCC prevented Tang from exercising warrants to sell shares at a higher price and they want comms from the head shed at BRCC. BRCC appears to be stalling. Share price history looks to go into the 30s before coming back down to 15ish. A lot of kaching could've been made over the price of the warrants at 11.50
interesting
https://www.spokesman.com/stories/2010/dec/22/hometown-success/
12/22/2010
Farmington State Bank is strictly no-frills.
The bank does not offer a credit card. Customers cannot access their accounts over the Internet.
A few years ago it stopped making mortgage loans because the paperwork became too onerous, President John Widman said.
The bank has remained in the same building on the southwest corner of Main and First streets since 1911, when the then-14-year-old institution moved out of offices over a saloon.
Copper safe deposit boxes honeycomb a section of the concrete vault. In the middle squats the “widow-maker,” a circular safe so heavy it might as well have been drop-forged in place.
There are photos of the original bank building on the lobby wall, along with a photocopy of an $800 check written in 1889.
“That was a lot of money in those days,” Widman said.
Also on the wall is a statement of the bank’s condition, a document few financial institutions put anywhere customers can readily see.
But Farmington State Bank has nothing to hide. As of Sept. 30, the bank was unique among Washington’s 82 FDIC-insured banks: There were no bad loans on the books.
and this
Farmington State Bank is strictly no-frills.
The bank does not offer a credit card. Customers cannot access their accounts over the Internet.
A few years ago it stopped making mortgage loans because the paperwork became too onerous, President John Widman said.
The bank has remained in the same building on the southwest corner of Main and First streets since 1911, when the then-14-year-old institution moved out of offices over a saloon.
Copper safe deposit boxes honeycomb a section of the concrete vault. In the middle squats the “widow-maker,” a circular safe so heavy it might as well have been drop-forged in place.
There are photos of the original bank building on the lobby wall, along with a photocopy of an $800 check written in 1889.
“That was a lot of money in those days,” Widman said.
Also on the wall is a statement of the bank’s condition, a document few financial institutions put anywhere customers can readily see.
But Farmington State Bank has nothing to hide. As of Sept. 30, the bank was unique among Washington’s 82 FDIC-insured banks: There were no bad loans on the books.
so did someone finally make an offer that couldn't be refused?
FTX Acquired a US Licensed Bank with Just 3 Employees in a Questionable Deal: Report
https://tokenist.com/ftx-acquired-a-us-licensed-bank-with-just-3-employees-in-questionable-deal-report/
FTX’s sister firm Alameda Research invested $11.5 million in Farmington State Bank in Washington State, one of the smallest banks in the United States. The bank reportedly had a single branch and just three employees this year, according to the New York Times. Further, it did not even provide online banking services or credit cards, the report adds. However, the bank was an FDIC member.
The collapsed FTX established a relationship with the Farmington State Bank in March 2022 when Alameda Research – a crypto trading firm that played a pivotal role in FTX’s demise – invested $11.5 million in the bank’s mother company FBH. Back then, Farmington was the 26th smallest bank in the country with a net worth of $5.7 million.
FBH
Big city moves: Federal approval
In 2020, a company named FBH purchased Farmington State Bank. FBH’s chairman is Jean Chalopin, who also chairs Deltec Bank and Trust — one of the main banks for both Alameda Research and Tether. Chalopin joined Farmington’s board of directors.
Shortly after the purchase, the bank pivoted to deal with cryptocurrency and international payments. But due to Farmington State Bank’s ‘backwards’ traditions of not taking on risky loans or — and this is truly mind-boggling — even being a part of the Federal Reserve System, it couldn’t move money anytime after the purchase.
This is when it sought Federal Reserve approval — and got it.
On June 30, 2021, Mary Daly welcomed the bank to the Federal Reserve System, hopefully forcing it to undergo a series of rigorous tests and examinations to confirm it meets all standards necessary.
Farmington State Bank, which for over 100 years hadn’t found a need to become a part of the Federal Reserve System, was now its newest member.