Norm, I think I'd do a mental inventory, first of all, on who might have interests parallel to or aligned with ours, who were interested in building a strong community here, locally.

 I'd look first for a lender that had its primary duty to the depositors and to the borrowers, not to the shareholders or to Wall Street. This first cut eliminates most of your national banks and forces you to look at community banks, credit unions, and private sources.

I'd look at the ratings and the financials, to see how strong they were. If they're not strong, they may do desparate things to change you from a prized customer to a profit center.

I'd try to make sure they had treated people decently in the past, and that they had a track record of non-predatory LOAN SERVICING. It's been our experience that many people are thrown into the briar patch of foreclosure unfairly, when their payments are mishandled or miscredited, and it's nearly impossible to escape the loop except through refinancing, at a higher rate because you have a poor payment record (that they may have caused), or through selling, or through letting them capture your equity in a foreclosure. For the most part, these are not nice people making a living in nice systems that serve the public in a fiduciary way. If they pop up in the newspapers too often as objects of lawsuits, you should probably steer clear of them.

I'd look to friendly loans from local sources, entities who thought preserving properties was a good thing and who recognized the intrinsic value of salvaging the treasure that exists in East Cleveland.

I'd also try to find a lender who could work quickly on-line to get through the qualification stage. Planners can sometimes source these for you.

Be aware of the way the intermediaries are paid, as well. Ask how much they get, and when. The higher the fees or commissions to the intermediaries, the more squirrely the relationship is over time. I hope this helps set your thinking onto the proper path.

Are you going to be at the CPL auditorium today for the hearing?

Lack of foot traffic isn't really the bottomline for the bank, though I can understand that being their "party line."

The threshold for closing is level of deposits.  Twenty years ago, $15 million in deposits was necessary for a financial institution to be viable.  (my limited experience in organizing to prevent a financial institution from leaving a neighborhood).  

Most downtown locations have significant deposits due to being centers for businesses' deposits.  Amount of foot traffic may have declined and yes likely deposits too, but doesn't mean the institution is non-viable.  Though financially their bottomline may enhance by closing.

Lmcshane you state that you will be opening an account elsewhere that you have options, but that others will be ill effected,

The only reason we were able to "stop" a financial institution from leaving a Cleveland neighborhood was because even residents without deposits in the closing institution joined in the Save the Bank Coalition.  People were willing to take the time for meetings (boring) and work cooperatively together because we knew that losing $17 million in deposits would hurt our community.  The CRA's are how their feet were held to the fire. 

More recently this same community - well I guess it's demographics had changed significantly enough that - they were placated that leadership assured them a new bar, upscale eatery or boutique could go into the location.

I never understood how that would replace millions in deposits, but learned there that my input was not only not welcome by "leadership", but that those adversely effected would rather complain than join together to help themselves.

- good luck