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Girard National Bank says former employee embezzled funds; inves - KOAM TV 7

Girard National Bank says former employee embezzled funds; investigation underway

Updated:
STATEMENT FROM GIRARD NATIONAL BANK

Girard National Bank internally discovered earlier in 2013 (June) that a long-term bookkeeping employee embezzled funds from the bank over a period of several years. The bank is conducting a thorough investigation in cooperation with the appropriate authorities.

The former employee embezzled funds directly from the bank. No bank customers suffered a loss as a result of the employee's fraudulent actions.

The bank is pursuing all legal remedies available to it.

Shareholders of Girard National Bank, through the bank's capital base, will absorb any unrecoverable loss. The bank remains well-capitalized, financially sound, and has experienced no interruption in serving its customers' needs.

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