Colonial National Bank

Sponsors made fireworks possible

The sky will light up Sunday night, as Historic Newburgh, Inc. hosts the Heritage Federal Credit Union 2011 Fireworks. It will be a fabulous evening of music and color. The entire evening is free to the public due to the generosity of many local businesses.

Thank you to our title sponsor Heritage Federal Credit Union. Not only have they provided a financial boost to the fireworks, they provide willing volunteers.

Many thanks also must go out to our media sponsor, WIKY radio station. They do such a nice job letting people know what is happening in Newburgh.

Our White Star Sponsors include St. Mary's Medical Center, Deaconess Hospital and Alcoa. Other White Star Sponsors include Warrick County Republicans, Commonwealth Engineering, Inc., ERA First Advantage Realty, RW Armstrong, Titzer Family Funeral Home, Indiana American Water and Clark Dietz, Inc.

Blue Star sponsors for the Fireworks are Newburgh Healthcare, The American

Legion Kapperman Post #44, C. Larry Rhodes, Expressway Dodge, Heidorn Construction, Metzger Construction Co., Inc., Sentry, Newburgh Lions Club, First Federal Savings Bank, Newburgh Lions Club, Newburgh National Bank, Edgewater Grille & LaVeranda, Bell Oaks Center and Colonial Garden Center.

The evening will start with the Kiwanis selling ice cream and the Lions Club selling hotdogs and hamburgers at 5 p.m. You are welcome to come down to the riverfront and find a spot for your blanket or lawn chair. After the French Island Trail closes at 6:30 p.m., the Old Dam Band will begin playing.

This is also the time when the WATS buses will begin shuttling people from Newburgh Elementary, Peoples Bank and the Newburgh Presbyterian Church. Parking is always at a premium.

There will be some differences this year. This will be the first year that the fireworks will be fired electronically. There will be no need for matches!

Due to the hill sliding at the Lock Master Cottages, that fireworks viewing location will be closed. Not to worry, there will be plenty of other locations to view the fireworks. If you buy a T-shirt for $15 or a button plus $5, you can sit in the VIP area just west of the Lock and Dam Building.

A special change this year will be that the finale music will be choreographed by Randy Wheeler, our MC for the evening. There will be a lot of old favorites. The closer to the Old Lock and Dam building you are, the closer you will be to hearing the music.

At 8:45 p.m. the ceremony will begin. There will be opening remarks by town council president, Leanna Hughes. Next, the American Legion will raise the flag and provide a one gun salute. This year, the national anthem will be sung by Wanda Kavanaugh.

National Mortgage News - TBW s Lee Farkas Sentenced to 30-Year ...

From 2002 through August 2009, Farkas and his co-conspirators, who have been sentenced to serve various prison terms, misappropriated more than $1.4 billion from Colonial Bank’s warehouse division and $1.5 billion from Ocala Funding, a mortgage lending facility controlled by TBW. 

Farkas and his co-conspirators were found to have misappropriated the money to cover TBW’s operating expenses. The group transferred money between bank accounts to hide overdrafts, which grew to more than $100 million.

According to court documents, the overdrafts and operating losses were covered up by having the bank purchase from TBW more than $1.5 billion in what was later revealed to be worthless mortgage assets, including loans that TBW had already sold to other investors.  Also, the bank purchased fake pools of loans that were supposedly being formed into MBS.

Farkas was also accused of masterminding a scheme where TBW sold at least $400 million of fictitious mortgages to Colonial Bank.

Farkas was first arrested in June of 2010 and then charged in April of conspiracy to commit bank fraud, securities fraud, and wire fraud.

TBW was in business for about two decades.

Wells Fargo & Co. and Bank of America Corp. have agreed to hand off some of their foreclosed properties in Cuyahoga County, Ohio. The banks have joined others in working with the Cuyahoga County Land Reutilization Corp., donating vacant and foreclosed properties to the land bank that serves the county in Northeast Ohio encompassing Cleveland.

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