Bankruptcy

10 Things to Know for Tuesday

10 Things to Know for Tuesday

1. ‘STOP THE UNREASONABLE CRACKDOWN’ Beijing issues a warning to Washington following Huawei’s indictment in the U.S. on charges of stealing technology and violating sanctions on Iran. Trade talks this week could suffer. 2. AFTER A PUBLICITY-FILLED WEEKEND, ROGER STONE TO FACE JUDGE Donald Trump’s confidant is expected to plead not guilty at a federal […]

Founder Hughes terminated from Beach Community Bank

Founder Hughes terminated from Beach Community Bank

After being removed from the CEO seat in July, founder of Beach Community Bank Tony Hughes was terminated from employment with the bank Aug. 31. Charles “Chip” Reeves took over as CEO for the bank in July after Hughes became the bank’s Northwest Florida Market president. Read the full article in the Sept. 13 issue […]

Hughes out as Beach Community Bank CEO

Hughes out as Beach Community Bank CEO

Takes on new role as NWFL Market President Charles “Chip” Reeves is the new CEO for Beach Community Bank and he is optimistic about the bank’s future after a $100 million capital raise by bank investment group, Hovde Group, LLC. The Hovde Group is based out of Inverness, Illinois, and they specialize in mergers and […]

Beach Community Bancshares bankrupt; bank to be sold

Beach Community Bancshares bankrupt; bank to be sold

Following more than a decade of delinquent loans, capital deficiencies and poor bank ratings, Beach Community Bank will soon be under new ownership as the bank’s holding company, Beach Community Bancshares, Inc., has filed for bankruptcy. According to the documents filed in the Northern District of Florida United States Bankruptcy Court, the bank will shift […]

More residents pay property taxes on time

More residents pay property taxes on time

In yet another sign of the area’s economic recovery, the number of Santa Rosa property tax delinquencies continues to fall. County records show that the percentage of property taxes collected after the annual March 31 delinquency deadline—when the levy for 2016 was due–fell to 5 percent this year. Read the full article in the Oct. […]

Club II comeback appears less likely

Club II comeback appears less likely

The personal bankruptcy case of the Sacred Heart emergency room doctor and his wife who own the Club II athletic center appears no closer to being resolved than when it was filed last October. In fact, rather than offering a plan to satisfy creditors, as ordered by Federal Bankruptcy Judge Jerry Oldshue in Pensacola, Paul […]

Doctor’s dream investment becomes financial nightmare

Doctor’s dream investment becomes financial nightmare

Emergency room physician Paul Henning and his wife, Ekaterina, a substance addiction counselor, had an ambitious vision for The Club II athletic center when they bought it for $2.9 million in 2012. Their goals included replacing the standard sports club snack bar with a European-style café, redesigning the lobby with a tile waterfall that resembles […]