I got a tip from a reader this afternoon that Twin City Bank would be meeting tomorrow with employees to pass word of a $2 million-plus embezzlement and that officials hoped to get word out before the media did. Covered up with other business, I checked in with Lance Turner at Arkansas Business, who said AB was hot on the case.
It’s a $2.1 million loss, apparently. TCB isn’t naming names, but AB says they have sources who confirm that an SEC filing about the loss, mostly covered by insurance, relates to activities of a senior vice president, Brent Geels. AB says he’s been terminated.