Integrity Bank in Georgia decided to build their business model on Christian principles.
Integrity’s employees regularly prayed before meetings or in branch lobbies with customers, while the bank gave 10 percent of its net income to charities.
“We felt if we prayed and obeyed God’s word and did what He asked, that He would help us be successful,” the bank’s founder, Steve Skow, told the Journal-Constitution in 2005.
Chalk this one up to another example of how religion fails and we really ought to base our decisions on reality: the bank failed. You really can’t rely on that God fella, you know.
Perhaps one contributing factor was their obedience to that other Christian principle, greed.
CEO Steve Skow earned $1.8 million that year, while senior lender and executive vice president Doug Ballard earned $847,222. A typical community bank CEO, banking consultants said, earn roughly $300,000 per year.
And say…isn’t there something in the Bible that prohibits lending at interest, too?