One response to “ShoreBank Demise Dissected: “Too Good To Fail””

  1. The most telling paragraph in your blog: “For almost forty years, ShoreBank made more than $4 billion in mission investments and financed more than 59,000 units of affordable housing. It spearheaded the national movement of community development financial institutions, played a significant role in federal policy around community investment, and was the role model for dozens of smaller progressive banks in the US and abroad.”

    ShoreBank came and went, for whatever reasons. But so have legions of once-dominant American corporations whose names are receding into history. It’s the nature of capitalism, and it’s important for people in the social enterprise arena to understand that even the most admirable businesses (social and otherwise) have a natural (and sometimes unnatural) life cycle. ShoreBank didn’t fail — it just reached the end of the line.

    But, oh what a journey! Having worked with the folks at ShoreBank as long ago as 1978 and admired them ever since, I can only say, “Well done! Your efforts will echo down the years and continue making a difference once we’ve all been forgotten.”