After Spectacular Rise, Banker Plummets

Shaun Hayes once was a banking hero who moved his tiny bank in northern Missouri to St. Louis and built it into Allegiant Bankcorp, with more than $2 billion in assets, and made his shareholders rich.

If bankers talk about him these days, though, it’s about his failures: Three Missouri banks with which Hayes was associated have closed in a little over a year. Hayes also has been involved in a series of failed non-banking investments, including real estate and a fast-food franchise.

Read more on David Nicklaus’ Mound City Money column, St. Louis Post-Dispatch.

Tags:, , , ,

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students

Learn more