HALL CLAIMS WIN IN LOCAL BANK STAKES

The Fair Haven office is one of just five for the locally focused bank. (Click to enlarge)

By MIKE BARON

The shareholders of Rumson-Fair Haven Bank & Trust have spoken, and they apparently aren’t all that worried that hedge fund honcho George Hall is going to turn the their well-heeled area into a Pottersville.

Hall is the founder of investment firm Clinton Group, which has more than $2.5 billion in assets under management, according to its website. On May 11, he won his battle to remove William Barrett as chairman of of the five-branch bank after an independent judge finalized the results of the bank’s annual shareholder vote. Hall is replacing Barrett on the board, and a new chairman is set to be chosen when the bank’s directors meet on Monday.

While the area is undoubtedly a far cry from Bedford Falls, the fictional setting of the classic movie “It’s a Wonderful Life,” Barrett had reportedly likened Hall to Henry Potter, the film’s villain, amid criticism by Hall that the bank wasn’t doing enough local lending.

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