The Hume Bank was closed by the Missouri Division of Finance and the FDIC on March 7, 2008, and later assumed by the Security Bank of Rich Hill, MO.
Mr. Thompson aged 39 of Hume, MO became the president of the Hume Bank in 2001, he is accused of defrauding the bank and making false statements concealing problem loans. He is also accused of abusing the bank's credit card, using it for personal expenditures. (according to reports).
Some of the allegations involve loans to Brad Laning, a relative of Mr. Thompson's wife.
I have been helping the FDIC evaluate some of the property currently in foreclosure in Hume, MO; and from the properties I've seen the damage has just begun.
I did a BPO for the FDIC a few weeks ago that showed the actual property value to be drastically less than what was loaned against the home.
This is just another example of lenders and appraisers over-valuing homes and buyers walking away with a huge debt that cannot be recovered by liquidating the assets.
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