Listen in because the apology from Philip Flynn, the CEO of Associated Banc (the 41st largest bank in America as of 2007) might just be the only actual apology from a bank CEO you’ll ever hear.Flynn said that because Associated was too focused on its own problems, the bank cost customers and shareholders. And here is his apology, in all its glory:
“I want to apologise for that.”
He apologized to shareholders and employees in a speech yesterday and a reporter from the Green Bay Press Gazette was there to catch it.
“I get letters. I know exactly how he feels,” Flynn said. “This was a very reliable dividend-paying stock for a very long time.”
What’s funny is that Flynn wasn’t even working at Associated when the firm encountered most of its losses or when Paul Beideman, Associated’s CEO at the time, took $525 million in TARP funds for the Green Bay, Wisconsin-based bank. He joined last November.
Guess he’s just a nice guy!
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