Tuesday, June 21, 2011

You Can't Bank on Dwayne Charles Holcombe

Dwayne Charles Holcombe graduated from the University of North Alabama in 1983 with a degree in Business Management. The former 4-H club standout soon became vice president of the small Farmers and Merchants Bank of Waterloo and headed its Central Plaza branch. From all outward appearances, Holcombe, along with his wife Lisa, was going somewhere; the only question now is "where?"

In August 2010, the Alabama Banking Association found that the long-time Waterloo resident had altered accounts by changing Social Security numbers of loan holders in the bank's maintenance system. At that time, the Association forbade Holcombe from working in any bank or lending institution licensed by the State.

The 49 year-old Holcombe, son of Mrs. Herschel Holcombe, has now been officially charged with one count of bank fraud and three counts of altering bank records. The Federal indictment does not specify how much, if any, of the missing 1.4 million dollars Holcombe received during the six year period covered in the investigation. FBI agents have stated that this information will not be published before the trial.

While it's a sad end for Holcombe's career in banking, it's certainly more so for the bank's investors who expected more from its officers. These investors may also wish to know why it has taken 10 months to indict Holcombe. The trial should prove especially interesting to all West Lauderdale residents, but especially Farmers and Merchants Bank depositors who just may wish to know who benefited from Holcomb's convoluted web of deception.


We're adding another location to our list of Shoals eyesores. The old B.M. Ingram building on South Seminary Street in Florence stands near collapse. There appears to be a for sale sign attached to the former store. Good luck with that.

Thanks to M.C. for the photo.