Stearns BankStay away

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a verified customer
Verified customer

I worked for an Insurance agency (Moody Ins. ) that was owned by Community National Bank (now Stearns Bank) in Venice, FL. The bank went under. As employees, we had the choice, when we were hired, to invest in bank stock by having a percentage taken out of our paychecks each pay period. I chose 3%.

For the three years I worked there I had that amount taken out. I KNOW a lot of banks failed but what really chafes me is that the bank President – Charles K Graham came to our office many times and told us the bank was okay. Not to take our money out! Right before it went under and was taken over by Stearns Bank Charles Graham came to our office and told us that the Board had invested $5m of their money back into the bank to keep it solvent.

Then no letter, no nothing, the bank went under! All of my money and everyone else’s who had enrolled in the program lost their money. Charles K Graham is still at the bank even though it is now Stearns Bank. He is doing very well!!!

I lost my job in 2009 and finally have a job interview for a possible job. Every time I see Charles Graham out and about driving his fancy car and dressed to the tees I just want to cry. I want all of my money back. Charles Graham KNEW the bank was failing and he had to have lied about the board members putting all of that money into the bank.

Can anything be done??? Even to Charles Graham?


  • Ru
    Ruthiness Jun 10, 2015

    Thanks for this info. I was considering opening an account with Stearns in Venice, Florida but now I will pass

    0 Votes

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