Fox Chase Bank Review

Would you trust a bank who chose to employ a known liar on their main company Board?

I do not think that many people would have confidence in such a bank. So the key question is, why has Tom Petro, CEO of Fox Chase Bank decided to continue to employ a known liar on the bank's Board? A man who was caught on-record lying to shareholders when he was CEO of CDI Corporation.

Fox Chase Bank Opinion

That decision by Tom Petro to retain the liar must bring Fox Chase Bancorp ethics into question. Read the correspondence between Tom Petro and me to form your opinion on Fox Chase Bank ethics.


--------------- Start of 2nd mail to Tom Petro CEO of Fox Chase Bank ----------------

21st January 2012

Mr Thomas M Petro
President and CEO Fox Chase Bank

Mr Tom Petro

Fox Chase Bank continues to employ a liar on their main Board

Thank you for your reply to my mail relating to the liar that you have chosen keep employed on the board of Fox Chase Bank.

You state in your reply that ‘relevant committees’ have discussed this matter and ‘made such enquiries as appropriate’.

Let us be quite clear on the facts, Mr Tom Petro. Roger H Ballou, a board member of Fox Chase Bank, is a known liar. That is a fact that your ‘relevant Committees’ members who ‘discussed an enquired into’ must have concluded. If your feedback from these committees suggested anything to the contrary then they must be totally incompetent. I strongly suspect that they are not incompetent and therefore they confirmed to you that Roger H Ballou, a board member of Fox Chase Bank is a known liar. Specifically, he was caught on-record lying to CDI Corporation shareholders when he was CEO of that company. If you are in any doubt whatsoever about that fact Mr Tom Petro, then I will personally send you the Roger Ballou lies and the supporting evidence to back this fact up.

Fox Chase Bank Ethics

It has now been more than 5 months since you have been fully aware that you have a known liar on the board of Fox Chase Bank. I have waited to reply as your communication did not draw any conclusions or indicate any action that you intend to follow. What now appears to be clear, from your lack of action over several months, is that you are quite content to continue with this known liar on the main board of Fox Chase Bank.

Tom Petro Fox Chase Bank

What you have done, Mr Petro, by accepting a known liar to remain on the main Board of Fox Chase Bank is brought the ethics of the Bank into question. Employing Roger H Ballou, before you knew that he has caught on record lying to share holders is perhaps an understandable mistake. However, continuing to employ this liar after you must have certain knowledge of his lies to shareholders is a completely different issue. That gross transgression of ethical standards by Ballou, that you are now fully aware of, reflects not just on you but on your management team and more importantly on Fox Chase Bancorp.

I do not wish to overstate the situation, Mr Tom Petro, but I believe that this is a watershed moment that your stewardship of Fox Chase Bank will be remembered by. That is, the CEO who was content to employ a liar on the Bank’s main board. That is quite an accolade Mr Petro and one I trust you are quite comfortable with as I believe it will remain as your defining moment as CEO of Fox Chase Bancorp.

Fox Chase Bank Decision

Why you have made the decision to keep a known liar on the man Board of Fox Chase Bank is mystery to me and I am sure to many other people who will be reading this open letter soon on www.cdicorp.info

Fox Chase Bank Reviews and Opinions

By your action (or perhaps inaction in this case) Mr Petro, you not only bring your own stewardship of the bank into question, but more importantly bring the ethics and integrity of Fox Chase Bank into question under the current management.

What do you believe the shareholders of Fox Chase Bank will think of your stewardship capability and ethics? What do you think this will have done to the confidence of your existing customers of Fox Chase Bank ? What do you think prospective customers of Fox Case Bank will think, knowing that the management of Fox Chase Bancorp are quite content to continue to employ a man who is on-record lying to shareholders? How do you think your decision to retain a liar on the Board of Fox Chase Bank will impact on the perception of the ethics of Fox Chase Bank?

Fox Chase Bank Reply

I welcome your reply and any points that you may raise to justify your decision to keep a liar on the main Board of Fox Chase Bank. I will publish any reply from you on the same website. I am sure many people will want to understand your rationale that brought you to make such a bizarre decision on behalf of the Bank.

I look forward to your reply with interest.

Sincerely
Bob Stewart
CDI Corporation Shareholder

cc Fox Case Bank Executive Team & 'relevant committees'

--------------- End of 2nd mail to Tom Petro CEO of Fox Chase Bank ----------------

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