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Puget Sound Leasing/First Sound Bank

The leasing company is well and healthy, doing business, in control of the portfolio, performing extremely well as the case against Larasco and Secords is now basically on hold (“Stay” including Wells Fargo case) as both Larasco's and now Secords as individuals have filed bankruptcy. Excellent leasing staff. In the meantime, the FDIC told parent First Sound Bank to come up with new capitalized by May 28th or that is it! Today June 3rd. So far, no bites, Leasing News is told by insiders, and whether the FDIC closes them down this Friday at 5pm is not known. They need this problem like they need another hole in the head!

Secords File BK, case on hold: