The Culinary Union is concerned about the insider lending practices of Heritage Bank of Nevada.
Between December 2012 and December 2014, the extensions of credit to its executive officers, board of directors, and principle shareholders has nearly tripled from $4.8 million to $13.1 million.
As of December 2014, Heritage Bank of Nevada had 40% more insider loans to net loans and leases than Meadows Bank (a comparable bank in its FFIEC peer group).
Who has the money? Ask the Chairman Robert Cashell Jr.
Call the Heritage Bank of Nevada at (775) 348-1000.