"We are disappointed that we have thus far been unable to reach agreement with the State Attorney General," said Evans President and CEO
In an interview, Nasca declined to go into details about the state's investigation of the bank's mortgage lending, which he said is "ongoing," but he also said the bank didn't know exactly what the state was looking at. He said Evans was "still in discussions" with the state "about what we agree with or disagree with."
But he also defended the bank's actions and practices, and insisted that the bank would hold firm. "It's our expectation that our practices are right where they're supposed to be," Nasca said. "We've received that kind of information from the OCC in the past. It's in our public record that our lending practices are appropriate, and they're questioning some of those. We're confident and steadfast in our claim that we've done all the right things."
The reserve is expected to cover any costs that may be incurred, whether it's legal fees, a settlement or a fine. "We're not sure which way it will go," Nasca said. "Our hope and our expectation is that it will go in a direction for what we believe, that what they're looking into is unfounded and without merit. We believe that we've done all the right things here."
Nasca also said the bank "has built a culture that encourages and supports community involvement."
"We remain fully committed to the
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