PANIC engulfed Bank of Saipan depositors yesterday after Variety reported that the government was placing the bank under its control due to its financial instability.
Dozens trooped to the bank’s Chalan Kanoa branch as early as 8 a.m., but only a few customers were allowed to withdraw.
Shortly after 10 a.m. the government closed the bank.
Worried over what could happen to their money, depositors lashed at the management for not sending out representatives to explain to them what was going on.
“They wouldn’t let us in. They almost threw us out. They don’t even have the decency to come out and explain to us what is going on,” Gloria Hunter, a retired government employee, said.
Hunter said she has been doing business with Bank of Saipan since 1988.
Lynn F. Carreira of Sapphire Enterprises has $15,000 deposited in the bank but she said the tellers wouldn’t allow her to withdraw even a single cent.
“They also didn’t tell us when we could withdraw,” Carreira said.
Ross Garcia, a contract worker, said he has at least $2,000 deposited in the bank.
Garcia said he saved the money for one year and didn’t have any clue “that this could happen.”
Uno Moda Corp. garment workers also trooped to the bank, but were told that they could not withdraw their money.
Bank employees expressed disbelief over what was happening to their company—and what could happen to their jobs.
