Should the government mandate American banks to share private transaction surveillance?
Where do we draw the line on privacy protection? See the interview below.
Dr. Ben Carson says, “Banking should be concerned with banking, not with politics.”
Earlier this year, I watched news reports about our government requesting banks share transactions about customers who purchase firearms or ammo. I was looking for a new trap gun then, so I went to my bank to ask that question. Was my bank going to send information to the government if I purchased a new 20 gauge clay target shotgun and paid for it with a check from the bank? Politely, the bank employee said they would find out and get back to me. They did not get back to me! On the news, I saw a new bank that would value and protect customer privacy and financial freedom, regardless of who they vote for and what they believe. The website for Old Glory Bank holds that big banks should not dictate who gets to use America’s financial institutions, but I wanted to know more. I called Old Glory Bank to see if they would answer the question I had asked my old bank. I wanted to talk to the President. I wanted to learn about this bank that would not cancel you for what you believed in or how you voted. I met Mr. Mike Ring, the bank president, who said I could ask any questions. I did, and this is what I learned.
Interview with Mike Ring, President of Old Glory Bank, on March 28, 2024
Question: Tell us about the first thought or discussion that led to establishing Old Glory Bank.
Answer: My involvement with Old Glory Bank involved two important moments. The first was a call in late 2020 from a longtime friend and former client, Eric Ohlhausen. During that call, we talked about our growing concern about banks starting to take sides and de-bank customers who disagreed with them. He then suggested to me that we “need a bank that serves everyone. A bank for America.”
Question: On that call, did you discuss Old Glory Bank?
Answer: I told Eric that this was a big idea. Actually, it’s a brilliant idea. However, I was not at a spot in my life where I wanted to stop what I was doing and help start a bank. However, his idea stayed with me. In January 2021, the second moment occurred when I was listening to Sean Hannity’s radio show. Hannity interviewed Mike Lindell (the My Pillow Guy), who had just been canceled from most retail stores. At that moment, I started yelling at the radio – Lindell, they are coming for your banking next. They are coming for your payments. It then occurred to me that Eric’s idea was the answer. I was being called to help start a bank for America that would not pick sides and would not cancel law-abiding customers. It then took about a year to build the team, raise the money, and create the structure for owning and running a cancel-proof bank. A bank that would serve all Americans and would not cancel persons because of what they believe.
Question: What were your personal reasons for participating in the effort to start and create this cancel-proof bank as a viable business?
Answer: Although I knew starting a bank would be a daunting task, I felt strongly that I was being called to pursue this important project and that we would find a way. With hard work and God’s will, I knew we could help save America, one account at a time.
Question: Was it courage that drove you to be involved?
Answer: No. Ignorance! Everyone told me that what we wanted to do was impossible and that we could never build a 50-state pro-America bank. I can now confirm that three years later if I had known what I know now, I would have done Old Glory Bank. Fortunately, my firm belief that God was calling me, calling my wife, and calling our co-founders to create Old Glory Bank blinded me from all logic and risk analysis. I had a great life as a lawyer, a business person, and a family man. If any client had approached me with this idea, I would have told him it was ridiculous and not to do it. However, I could not stop thinking about this calling. Old Glory Bank consumed my life, which then became infectious and drew in the people we needed, starting with our brilliant co-founders John Rich, Secretary Ben Carson, Larry Elder, Bill Shine, and Governor Mary Fallin. Also, it became clear that during my 30-year legal career, God put certain people in my life who had been prepared to be a part of Old Glory Bank. This was not an accident.
Old Glory Bank President Mike Ring says, “Finally, a bank that values my values. Finally, a bank that cares about what I care about.”
Question: Once you knew this was your calling and that people were joining your mission, how did you actually get it done?
Answer: Certainly, it’s more fun to talk about the “big idea” than actually execute the “big idea.” I represented start-up businesses for 30 years. I knew definitively that “ideas” are cheap, but “execution” is expensive. The team and structure of Old Glory Bank were coming together in my mind. Still, because I was so busy with life, I failed to slow down and actually get the plan and structure down on paper. Months were slipping by, and I was not doing what I knew I was called to do. Then God showed his power again and put me in a situation that caused me to stop working and focus on Old Glory Bank. I came down with Covid. I couldn’t travel, and I couldn’t go to meetings. I had to stay at home and limit my activities for a week. I was a complete slacker for the first two days and binge-watched Netflix. But I kept falling asleep and waking up, knowing I was ignoring my calling. So, on day #3, I got my slacker self out of bed, went down to my desk, and built a Deck to lay out the brand proposition, the essential products, and the legal structure of Old Glory Bank. In all my life, I have never had ideas and words come so easily to me. Today, when I look back to that original deck, which is now three years old, 99% of what came out of me and was put down on paper exists today at Old Glory Bank.
Question: If a bank could have a personality, what is the personality of Old Glory Bank?
Answer: That is easy. It would be the personality of Dr. Ben Carson. I don’t say this lightly because we have many brilliant co-founders. Still, if I had to pick a personality, it would be Dr. Carson. Like him, we are stoic, humble, understated, smart, and passionate about putting others ahead of ourselves.
Dr. Ben Carson says, “Banking should be concerned with banking, not with politics.”
Question: How did you select the name Old Glory Bank?
Answer: That is a great question. One of my longtime clients and friends, a brilliant media guy, suggested this. I loved it immediately. Of course, many smart “marketing people” told me that was silly because you can’t have “Old” in the name of a brand. Fortunately, I trusted my instinct and ignored the “experts.” These three words, Old Glory Bank, describe precisely who we are, what we believe, and what we do! It is one of the great brand names of all time, and our customers love being part of the Old Glory Nation.
Question: What has been the most rewarding part of your participation in creating Old Glory Bank?
Answer: We read every e-mail and every post. It is so rewarding to me and the team when people say, “Finally, a bank that values my values. Finally, a bank that cares about what I care about.” Our employees hear that, and it motivates them to work even harder to earn the customers’ trust each and every day. We are solely driven to serve our customers and their needs.
Question: If you could sit down, in person, with a couple of American Citizens anywhere in the country and share one thing or one item of information that is not on the bank’s website, what would it be?
Answer: I wish all of America knew what I knew. I am the luckiest Head Coach in history because I get to lead the most brilliant, passionate, and caring team ever—especially in banking. I wish everyone knew that the team members at Old Glory Bank truly put our customers, community, and country ahead of themselves.
Question: Has the growth of Old Glory Bank met pre-opening expectations?
Answer: Our growth has exceeded all expectations. We did not think we could grow this fast, so we now offer accredited investors a pre-IPO ownership opportunity. Check it out at https://own.oldglorybank.com/. We are coming together to keep Old Glory Bank owned by Main Street, not Wall Street.
Question: Where are most of your customers currently coming from?
Answer: We have depositors from all 50 States. Currently, our largest number of depositors are from Florida, Texas, Oklahoma and California.
Question: Now for the best question. Mike, what is your favorite Outdoor activity?
Answer: I was not born into an outdoor family, so I did not get to experience outdoor activities as a youth. But recently, our Chief Security Officer, Steve Paganucci, who spent 22 years in the FBI, took me and my family target shooting, and we are now hooked! We quickly assembled a respectful collection of firearms and frequently go shooting.
Question: Mike, this is the final question: List the business goals of Old Glory Bank.
Answer: Instead, I would like to answer that question by telling you both our goals and our mission. First, our mission – it’s the US Constitution. Simple, but spot-on. Next, our goals – to offer banking products and customer service that exceed all other banks, regardless of size, plus, to protect our customers from corporate and government overreach by never canceling a law-abiding customer and never sharing the data of lawful customers. Oh, by the way, unlike the big banks, we actually love our customers!
