Community Bank & Trust, taken over by state and federal bank regulators Friday night and sold to Orangeburg, S.C.-based SCBT, N.A. on Saturday, was a victim of both fraud and bad loans, a former official insists.
“There’s some people in our company going to jail,” said Elton Collins, who until Friday evening at 5 p.m. was president of Jackson County operations. “I know damn well they’re going to jail.”
Collins, however, called the takeover by SCBT “the best switch-over I’ve ever seen of that type,” and said it “really worked out good” for Community Bank & Trust employees.
“SCBT has been very good to everybody,” said Collins. “They are just as nice as they can be at this point. There was not all of that embarrassment Friday night that you typically see.”