Word: kickerillo
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Dates: during 1980-1989
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Unitedbank's fall resulted from the go-go style of Chairman Vincent Kickerillo, a local land developer. Taking over in 1968, Kickerillo overcommitted the bank to real estate loans and investments in other banks during the oil boom of the late '70s and early '80s. When the economy soured in 1982, so did Unitedbank. By this year it was losing $1 million a month. For a time Kickerillo, a self-made millionaire who commuted to work in a jet helicopter, covered the losses himself. But after an audit three weeks ago showed Unitedbank to be $7 million...
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