Discover and read the best of Twitter Threads about #Bushburg

Most recents (2)

Here's @CrossRiverBank's details over at #FDIC. Various addresses, FDIC ID numbers, charter info, etc. in case anyone's looking to dig around.

Note that for their first 5 years they were rated "Needs to improve" as a bank.

#lolbank
banks.data.fdic.gov/bankfind-suite…
@crossriverbank 🧵 Who else didn't know that @CrossRiverBank changed its name from #FirstFinancialBank in 2008?
state.nj.us/dobi/bnk_depos…
🧵 @CrossRiverBank is technically owned by #CRBGroup (seems like it's not the same as @CRBgrp?), a holding company in Fort Lee, NJ. Apparently #JoannaAlbertine is the CFO.

Here's their annual filings in NJ: ffiec.gov/npw/Institutio…
Read 22 tweets
🧵1/Ω A few things about @crossriverbank, a tiny #a16z funded lender that originated more #PPP loans for "small businesses" than anyone besides Chase, BofA, and Wells Fargo, mostly for people who were not their customers.

Also @coinbase's preferred bank.
techcrunch.com/2022/03/30/cro… ImageImage
🧵2/Ω They paid @McKinsey a bunch of money to tell the world that "while most banks originated PPP loans to their own customers, Cross River leads in originations to new customers"
mckinsey.com/industries/fin…
🧵3/Ω Unlike other banks that blew up on "fund banking" recently (*cough* $SBNY $SIVB *cough*) @crossriverbank does their "fund banking" differently:

They package all the loans and sell them to weird "fintech" companies like @Upstart. @mikulaja Image
Read 40 tweets

Related hashtags

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!