Word: loaning
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...various bonds issued under the adfa, it was named the trustee for four bond issues in 1988 and 1989, which brought in some lucrative fee income. Twin City, in turn, steered at least some legal work to the Rose firm. So when the unresolved issue of the Whitewater loan again arose at a 1st Ozark board meeting, Penick said, "Margaret and Hillary are close friends, so I'll have Margaret talk to Hillary about this...
...EVERYONE AT THE BANK IN FLIPPIN WAS COMFORTABLE ABOUT what was happening. Vernon Dewey, a loan officer at 1st Ozark, thought it was imprudent and that the bank should call the loan. He'd written the Clintons repeatedly asking, then demanding, that they provide a financial disclosure. He couldn't understand why the Clintons wouldn't provide it. Surely they understood that no matter what the statements showed, the bank was all but certain to renew the loan since he was the Governor. The Whitewater loan was the only one in the bank's portfolio that had such irregular documentation...
...about that time, Hillary did evidently speak to Margaret Davenport about the Whitewater loan. "Notes of TK w/M. Davenport," handwritten notes on Hillary's personal notepaper read. At the top right-hand corner is the date 1987. "56,623 balance. 2,303.78 Oct. 3." On the side is an arrow, then "5 yr amortization. w/2 yr balloon. 1 2/3. Note secured by mortgage recorded Aug. 3, 1978 on 171 acres known as Whitewater Estates. Original $100,121 note...
...appears to be an abbreviation for "talk." And, in fact, $56,623 was the precise amount of the 1st Ozark loan outstanding as of Oct. 3, 1986, and $2,303.78 was the interest then due on the Whitewater loan...
...Ozark's loan committee considered, among other things, the Whitewater loan. Proctor reported on a visit he had made to Whitewater the previous month, which resulted in the bank's valuing all of Whitewater at $104,000. The committee gave the loan a risk rating of 3, meaning the bank should start preparing for a default, but still hoped the loan would perform. The committee attached several conditions to approving the loan renewal, including obtaining the Clintons' personal financial statement for the bank's files...