Amarillo National Rejects Bailout Offer - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Amarillo National Rejects Bailout Offer

Richard Ware Richard Ware

Amarillo National Bank turns down assistance from the federal government. In a news conference today, bank officials announced they will not be taking money as part of the government's bail out plan.

Richard Ware with ANB says,"We've been so luck the Amarillo economy is good. Our past dues are down from a year ago. Our deposits are way up, our earnings are probably more than any bank in Texas. Our capitol ratio is higher than its suppose to be so we are having a record year.

Bank officials say the trouble asset relief program or TARP will be very expensive to pay back. Just one reason the bank does not want to get involved.

In fact, officials with ANB say they don't expect some banks, that take the hand out, to be around when it is time to pay up.

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