'Andrew McCain “sat on the boards of Silver State Bank and of its parent, Silver State Bancorp, starting in February but resigned in July citing ‘personal reasons,’ according to the Associated Press (broken link). McCain left just over a month before Silver State went belly up.'
McCain’s Son In New Keating Five Scandal?
The Associated Press: Silver State Bank in Nevada is shut
'The
AP reports that Silver State’s failure was caused by “poor-quality loans primarily related to real estate development,” and that it will cost the FDIC (funded by American taxpayers) $450-550 million.'