Bank fails after taking “Jesus saves” literally

JC savesRiverview Community Bank of Ostego, MN, whose founder said God told him that He “would take care of the bottom line,” was closed by the FDIC last Friday.

Chuck Ripka, one of the bank’s founders, once told the Star Tribune that God spoke to him and said, "Chuck, if you pastor the bank, I’ll take care of the bottom line." Ripka and his staff would pray with customers in the bank’s Otsego branch and even at the drive-up window. (A story I once heard about not mixing money lenders and temples suddenly comes to mind.)

Seems the Good Lord didn’t tip Mr. Ripka to the fact that home prices do not always head toward Heaven. The bank was an aggressive real estate lender and at one point had the fourth-highest concentration of real estate loans-to-capital of any community bank in the Minnesota. Riverview’s mistakes weren’t limited to bad loans it seems. Earlier this month it had reached an agreement with the Fed to cease paying dividends and correct violations of law spelled out in a May letter from the Fed. The order didn’t identify what laws were broken.

 

(And speaking of banks in need of divine intercession, check out: Citigroup’s "Hail Mary Pass": How To Know Citigroup Is In Serious Trouble)

Jesus is still hot … in chocolate, plastic, CDs and Elvis

In case you had any doubts JC the First is still a bankable concept for moving product.

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The one true Jesus MP3 player has been revealed

Cross MP3 playerYou can have your Jesus Phone, from now on I will be listening to all my stolen gospel music on this. HA HA. Special props to OhGizmo for dubbing it the iJesus. BTW, the iJesus is very affordable: 4GB for only $48. Discounts if you buy enough for the whole flock.

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