Posts Tagged ‘Non repayment of Gov. bailout funds’
March 24, 2012
This is Michael Dee, this bald clown took $6,000,000 of your tax payer money, which he can’t pay back
capital2risk.com
Look at this Dork, he hasn’t even paid interest on the money he stole from you since 2/10.
Michael Dee makes $186,000 a year to wipe out a 100 year old bank
This criminal made $27,000,000 in bad loans
Michael you lost over $3,000,000 in Q4 2011 alone how the hell are you pay back the tax payer? You can’t
Michael you wiped out your investors, the stock is 90 cents a share,
Michael gets a $6K car allowance for bankrupting this place
Do you have money with this thief?
Michael, were DEE F$$$$ is the $6,000,000 you took
This criminal won’t even pay the tax payer INTEREST on money he stole!
No wonder this guy is bald
Do you have money in this disaster?
This Bill Weidel, this clown is the CFO, he took $6,000,000 from the tax payer
Bill makes $147,000 except he won’t even pay interest on the money he stole
The Patapsco Bank, Dundalk Maryland was founded in 1910. The company took $6MM in tax payer funded bail out money, which they won’t pay back. They haven’t even made an interest payment, since 2/10. For some reason, they are not on the problem bank list. I guess not paying back, the $6MM to the tax payer or not even paying interest, is not a problem to the regulators.
Assets are $269MM, with reported equity of $17MM
The actual equity is $11MM, as the $6MM in bailout money is debt, not equity.
The problem loan portfolio is $23MM.
With $23MM in problem loans and $11MM in equity, this place looks insolvent.
How come this place is not closed down?
How come they aren’t on the problem bank list?
The executives might not care about paying the tax payer back, but they have no problem paying themselves.
Michael Dee made $186k
Laurence Mitchell made $144k
William Wiedel made $147k
That is good pay for bankrupting a 100 year financial institution.
Michael, you got paid, where is the $6MM you took from the tax payer?
Michael, you pay yourself, but you won’t even pay interest on the money you took.
Do you have money in this place?
The government is using your money to prop up this insolvent bank.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Problem Bank list, under capitalized | Leave a Comment »
February 17, 2012
Check out the new site
capital2risk.com
This clown wiped out a 100 year bank
J Chester you lost $45,000,000 in Q4 2011 alone
J Chester lost $96,000,000 in 2011?
J. Chester Porter took $35,000,000 in tax payer money which he won’t pay back
J Chester makes $512,000 a year
J Chester where is the $35,000,000 you owe the tax payer? Check you pocket
Take your money out of this bank
This disaster is on the under capitalized bank list
J Chester also wiped out all the stock holders
J CHESTER THE TAX PAYER MOLESTER
Porter Bank Louisville Kentucky has taken $35MM in tax payer funded bailout money, which it has decided it won’t repay.
Assets are $1.3B with equity of $135MM.
They won’t pay back the tax payer, but they can sure pay themselves.
That is J Chester Porter one the right he took $35,000,000 of your money
J. Chester Porter made $512k
Maria Bouvette is the CEO, this wench took $35,000,000 in tax payer money which she won’t pay back
You would think for $495, 000 a year she could get a decent haircut
Maria is sitting on get this $69,000,000 in under performing loans
Do you think this clown has a clue what she is doing?
Maria Bovuette made $495k
David Pierce made $417k
C Bradford Harris made $179k
J. Chester, you pay yourself well, but you won’t pay back the tax payer.
J. Chester, where is the $35MM you stole from the tax payer?
How about this cat for CEO can’t be any worse than J. Chester
Do you have money in this place? Call J Chester and ask him for the $35MM he took.
J. Chester should be in locked up.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
February 10, 2012
Take a look at the new site
capital2risk.com
That fat slob on the left is Frank West
This bald clown stole $18,000,000 from the tax payer
First Security Bank, Batesville Mississippi was founded in 1952. The company took $17.9MM of your tax payer money, which it won’t pay back.
Assets are $523MM, with equity of $57MM.
The actual equity is $39MM, the $17.9MM that is owed to the tax payer is debt, not preferred stock.
The problem loan portfolio is $24MM.
Having $24MM in problem loans, with $39MM in equity is probably not a great situation.
This place is probably bankrupt.
Why isn’t this place at least on the problem bank list? Those regulators don’t quite have it figured out.
Net Income was $1,302MM in FY10, $798k in FY09 and $183k in FY08.
They paid dividends to the shareholders of $1.4MM in FY10, $1.4MM in FY09 and $1.4MM in FY08.
Hold on, they are making money, paying dividends to the stock holders but won’t pay back the tax payer. Something is wrong here.
Take a look at the Net Income, based on this financial performance, how long will it take them to pay back $17.9MM. 20 years sounds about right. However, that is contingent on them actually making payments.
Fortunately, even though the tax payer is not getting paid back, the executives are paying themselves well.
Frank West made $279k
William Fleming made $157k
Connie Hawkins made $157k
Connie Hawkins?
Jeff Herron made $156k
Dwayne Myers made $163k
Don’t worry, these salaries include country club fees and car allowances.
The tax payer is paying for these clowns to play golf.
Look on the bright side, at least when they are playing golf, they can’t make bad loans.
Frank West, you took $17.9MM from the tax payer, won’t pay it back, make a ton bad loans and wipe out the stock holders. They pay you $279k to bankrupt a 59 year bank and pay for you to play golf. You have it made.
Frank, seriously where is the $17.9MM?
Do you bank with these criminals.
First Security? The one secure thing is, the tax payer isn’t getting their $17.9MM back.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds | 2 Comments »
December 30, 2011
Peter Converse of Virginia Commerce Bank Arlington Virginia
Peter took $71,000,000 in bailout money
Peter makes $461,000 a year, which includes country club fees
Mitchell Feiger of MB Financial Chicago Illinois took $196,000,000 in tax payer funded bailout money
Mitchell makes $1,300,000 which includes a country club membership.
Mitchell plays golf on your tax dollars
Check out Mitchell, he is trying to figure out how to grab more money from the tax payers A$$s
Check out Pressley Ridgill, he took $52,000,000 in tax payer money
Pressley makes $439,000 which includes a country club membership, paid for by the tax payer
This fat cat is Allen White, he ran Plains Capital Bank Lubbock Texas into the ground
Allen took $82,000,000 in tax payer money
Allen got paid $3,300,000 and his country club membership from the tax payer, as he destroyed this bank
Allen has 3 chins, does it look like this bankster has ever missed a meal?
This is Michael Rechin, he bankrupted First Merchants Bank Muncie Indiana
Michael took $107,000,000 of you money, which he can’t pay back
Michael got paid $625,000 to destroy a 118 year old bank
Tags:executives paid despite non payment of bailout fund, FDIC Bankrupt, first merchants bank muncie indiana, mitchell feiger, Non repayment of Gov. bailout funds, peter converse, problem bank list, real estate, tax payer money
Posted in Uncategorized | 4 Comments »
December 29, 2011
Take a look at the new site
capital2risk.com
Gilbert Narvaez, the President and Adolfo Gutierrez, the CEO ran this place into the ground
They were able to get this place on the problem bank list, it is one of the worst banks in Texas, with a Texas ratio of 71%.
The bank was citied for “weakness in management” shocking.
Take a look at the website, these boys have a lot of vacant land for sale, these guys are savvy banks!
Falcon International Bank Laredo Texas was founded in 1986. The company is on the problem bank list. They like to engage in unsafe and unsound banking practices. The bank was cited for having weaknesses in asset quality, liquidity, deterioration in capital, earnings and deficiencies in management. The Texas ratio is 71%, making it one of the worst banks in the state.
The bank has assets of $875MM, with $81MM in equity.
They have $71MM in problem loans.
Hold on, they have $81MM in equity, with $71MM in bad loans? That is not good amigos.
Take a look at the website, this disaster has serious levels of real estate for sale. Is this place a bank or Caldwell Banker?
Tags:executives paid despite non payment of bailout fund, FDIC Bankrupt, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in Problem Bank list, Uncategorized | 310 Comments »
December 22, 2011
Take a look at the new site
capital2risk.com
Do you have money in this disaster, it is one of the worst banks in the state
This is Marc Lively he took $17,000,000 in tax payer money which he can’t pay back
Marc makes $298,000 a year, not bad
This A$$ made $151,000,000 in bad loans
Marc lost $10,000,000 in the last 2 years, good thing he has time to play golf on the tax payers money!
That clown next to him is Michael Saporito, he makes $167,000 a year to play golf and make bad loans
These dopes lost another $7,000,000 in Q3 2011, Marc wiped out another 10% of the remaining equity in only 90 days
Might as well play golf, you might lose less money
These rednecks made $151,000,000 in junk loans
Here is the CEO Marc Lively, he took $17,000,000 of tax payer money in TAARP funds, which he won’t pay back
He is the guy on the left, the stomach and golfing is paid with $17,000,000 in your tax payer money. Do you think these fat slobs hit the 19th hole with your $.
This clown made $151,000,000 in bad loans
Maybe this joker should get off the golf course and get his sorry ass off the problem bank list
Hopefully, Mark is making more bad loans with these jokers, Mark should be in jail
He made $298k last year
Mark made $151MM in problem loans with only only $39MM in equity
It didn’t take him long to bankrupt this place
They lost $10,000,000 over the last 2 years
The balance sheet is not looking very lively
Good thing has time to play golf, at least he can’t make bad loans there
Community First Bank and Trust Columbia, Tennesse was founded in 1999. They took $17MM in tax payer funded bailout money, which it won’t pay back. I couldn’t find it on the problem bank list, but it ought to be.
The company has $678MM in assets with $56MM in supposed equity.
The equity position is actually $39MM, as the $17MM in bailout funds is not preferred stock but debt, which they won’t pay back.
The problem loan scenario is staggering. They have $41MM in loans past due 30-90 days, get this, there are $110MM in loans on non accrual!
So, they have $151MM in bad loans and $39MM in equity.
This place is flat out bankrupt
Why hasn’t the government shut them down. What, they think if they wait they will get the $17MM back?
Why aren’t they at least on the problem bank list, this place has problems.
This place is bankrupt.
How are they going to pay back the tax payer $17MM
Net income was ($4MM) in FY10 and ($6MM) in FY09.
So how are they going to pay the $17MM back?
At least the executives are suffering. They get paid well for wiping this place out.
Mark Lively made $298K
Diane Scroggins made$125K
Michael Saporito made $167K
Carl Cambell made $177K
Mark Lively gets paid well to run this thing into the ground
That is good pay for causing this disaster.
Tags:deliquency, executives paid despite non payment of bailout fund, FDIC Bankrupt, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in Banking, executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | 8 Comments »
December 21, 2011
This is Michael Crapps, he took $11MM in TAARP, which hasn’t been repaid
His bank is also on the problem bank list
The bank lost $30MM in the last 2 years, how are they going to pay back $11M?
Crapps is what this bank is
Why is Mr. Crapps f$$?king bald?
He stole $11,000,000 in tax payer money, which he can’t pay pay back, he got this place on the problem bank list
He stole $11,000,000
He lost $31,000,000 the last 2 years
Crapps also wiped out the stockholders
That is CRAPPS
Michael gets paid $399k to run this place into the ground
This is David Proctor he makes $173,000 a year
David is Chief Credit Officer
First Community Bank of Lexington, SC was founded in 19995. The company took $11MM in tax payer funded bailout funds, which it has neglected to return. The company has the dubious distinction of being on the problem bank list, as they entered into a formal agreement with the regulators on 4/10. The Texas ratio is 20%.
The bank has assets of $599MM and stated equity of $40MM.
However, the $11MM in tax payer bailout funds is not equity it is debt, that the company has chosen not to repay. The actual equity is probably $29MM.
The problem loans consist of $2MM in loans past due 30-90 days, with $6MM in non accrual and $6MM in OREO.
That is $14MM in problem loans backed up by $29MM in equity, not a great situation.
This place looks relatively insolvent.
Then bank had net income of $1MM in FY10, ($25MM) in FY09 and ($6MM) in FY08.
How are they going to repay the tax payer funded $11MM, it doesn’t look good!
At least the executive compensation wasn’t impacted.
Michael Crapps made $339K to do it.
David Proctor made $173
The stock has a market capitalization of $23MM, or 60% of book, that is Crapps.
Crapps is what Michael is doing to the tax payer, this piece of S$$$?t, takes $11MM from the tax payer and won’t pay it back
At last he gets paid $339K to do steal tax payer money, that kind of money is not Crapp.
Do you have money in this piece of Crapps.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list
Posted in executive compensation, Non repayment of Gov. bailout funds, Problem Bank list | 2 Comments »
December 21, 2011
This is Dwight Utz he took $17MM in bailout money
The bank made $200k in FY10 and ($400M) in FY09, how the hell long will it take them to pay back $17MM
Dwight makes $311k, good pay for wiping out a 92 year old bank
This is Thomas Crowder the CFO he makes $231,000 a year
Thomas owes the tax payer F$$ing $17,000,000
Thomas you are wiping out a 100 year old bank
East Carolina Bank Engelhard, North Carolina was founded in 1919. The company took $17MM in tax payer funded bailout money, which it has decided not to repay. It is not on the government problem bank list. I guess not paying back the tax payer back, is not a problem.
The company has $919MM in assets with $80MM in equity.
The actual equity is $63MM as the $17MM in bailout money is debt not preferred stock, despite the fact that they won’t repay it.
There are $23MM in problem loans. The non accrual alone could eradicate a large part of the equity position.
Net income was ($200K) in FY10 and $499K in FY09.
These crooks owe you $17,000,000
Based on this financial performance, how are they possibly going to pay back the tax payer’s $17MM?
Fortunately, the executives haven’t suffered or made any effort to pay back the tax payer.
Dwight Utz made $311K
Thomas Crowder made $231K
James Burson made $204K
At least these boys are well taken care of.
They have made a good effort at wiping out a 92 year old institution.
Is this your bank?
Dwight Utz?
Dwight got paid all right, for running this place into the ground.
Dwight, when are you going to pay back the tax payer the $17MM you stole
Do you have money in this bank?
Next time you go into the branch, ask them when they are going to stop paying Dwight Utz for his incompetent management, and pay back your $17MM in tax payer money.
ECB Bancorp, Inc. Announces Termination of Securities Purchase Agreement |
Company Release – 02/08/2012 18:24 |
ENGELHARD, N.C.–(BUSINESS WIRE)– ECB Bancorp, Inc. (the “Company”), the parent company of East Carolina Bank (the “Bank”), today announced that the Company and FIE I LLC, an affiliate of PIMCO BRAVO Fund, L.P. (“BRAVO Fund”), Patriot Financial Partners, L.P. (“Patriot”), an affiliate of Endicott Management Company (“Endicott”) and three other institutional investors (collectively with BRAVO Fund, Patriot and Endicott, the “Investors”) mutually agreed to terminate their previously reported Securities Purchase Agreement, as amended and restated (the “Agreement”). As previously disclosed, the Company and each of the Investors had entered into the Agreement under which the Company would issue $79.7 million in Company common stock in a private placement offering at a price of $16.00 per share. Pursuant to the terms of the Agreement, the Company had also agreed to issue to the Investors warrants to purchase shares of either voting common stock or a new class of the Company’s mandatorily convertible non-voting common stock at a purchase price of $8.00 per share and in an amount equal to 25% of the number of shares of common stock each Investor would purchase in the Offering. Not all the required regulatory approvals necessary to complete the transaction had been received by all of the Investors as of the termination date.Despite the termination, the Company and the Investors expect to work on an alternate private placement offering. No assurances can be made that a new securities purchase agreement can be reached between the parties or that the terms and conditions of any such new agreement, including the purchase price, would not differ materially from the terms of the prior Agreement.ECB Bancorp, Inc.
A. Dwight Utz, President and CEO
252-925-5509 Office
800-849-2265
or
Thomas M. Crowder, Executive Vice President and CFO
252-925-5520
252-925-8491 facsimileSource: ECB Bancorp, Inc. |
Click here for Printer-Friendly Version |
Tags:engelhard north carolina, executives paid despite non payment of bailout fund, FDIC Bankrupt, Non repayment of Gov. bailout funds, problem loans
Posted in Banking, executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | 5 Comments »
December 19, 2011
This is Joe Shearin CEO, took $24MM of your money, which he won’t pay back
Joe made $438k for making $56MM in bad loans
He lost $18MM in the last 2 years, how is he going to pay $24MM back?
Eastern Virginia Bancshares Tappahannock, VA was founded in 1910. The company took $24MM in tax payer funded bailout money, which they have neglected to pay back.
They have $1B in assets with $85MM in supposed equity.
However, the $24MM of equity from the tax payer bailout funds is actually debt not preferred stock. This results in an actual equity base of $61M.
The problem loan portfolio consists of $20MM of loans that are 30-90 days past due, with $36MM on non accrual and $11MM in OREO.
So they have $56MM in problem debt and only $61MM in equity.
This bank is technically insolvent, how come they are not on the problem bank list?
The financial performance was not exactly stellar. Net income was ($10MM) in FY10 and ($8MM) in FY09.
Based on these results, how are they going to pay the tax payer back $24MM, they can’t.
Thankfully, the executives are still being well compensated.
Joe Shearin made $438K
James Hackett made $197
Pretty good salaries for destroying a 101 year old institution.
So Joe Shearin loses $18MM, runs up $64MM in bad loans, steals $24MM from the tax payer and pays himself $438k to do this. Only in America
They have forgotten to post the annual report on the website since 2008. Probably to busy losing money for such nonsense.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds | 2 Comments »
December 18, 2011
Take a look at the new site
capital2risk.com
These jokers lost $5,500,000 in Q4 2011, wiping out 63% of the remaining equity
Wow, these fat cats took $4.4MM of your money, which they haven’t even bothered to pay interest on since 5/10
It is good that they have time to play golf on the tax payers money
That cat on the left isn’t missing any meals thanks to TAARP, that stomach is all bought and paid for thanks to the tax payer
These boys are down in the trenches or maybe bunkers
Using tax payer money to sponsor golf tournaments, who is better than these bankers, and they are bankrupt.
Do you think that clown in the middle has done any hazardous commercial real estate lending?
These boys are on the problem bank list and living large.
This is David Bridgeman, David stole $4,400,00 of the tax payers money
David has not even paid interest on your money since 5/10
This fat cat bankster is on the problem bank list for hazardous commercial lending
This clown is going bald but he can grown pubic hair on his face.
Pinnacle Bank Orange City Florida was founded in 1999. The company took $4.4MM in tax payer funded bailout money, which they won’t pay back. Then again, they haven’t even paid interest on it since 5/10. They are also on the problem bank list for hazardous commercial real estate lending. The Texas ratio is 73%.
Assets are $205MM and supposed equity is $13MM.
The actual equity is $8.6MM, as the $4.4MM in taxpayer funding they stole, is debt not preferred stock.
The problem loan portfolio is $17MM.
With $17MM in problem loans and $8.6MM in equity, this place is bankrupt.
How are they going to pay the tax payer back the $4.4MM? They can’t even pay the interest.
David Bridgeman owes you $4,000,000, he won’t even pay you interest
David does have time to play golf
David Bridgeman is the CEO.
This guy stole tax payer money, can’t pay it back and ran this place into the ground. Pinnacle?
Check out the website, here is a quote from David Bridgeman, “they wanted somebody who’s a real banker, down in the trenches, who has recently been examined by the FDIC”.
David, the FDIC examined you and put you on the problem bank list.
David, where is the $4.4MM you owe the tax payer, how about at least paying the interest.
Do you have money in this debacle.
They are the Pinnacle, of making bad loans.
Mr. Bridgeman (local community banker) goes to Washington
David Bridgeman doesn’t need to watch television or read reports to understand the devastation the recession is causing on Main Street.The Orange City community banker witnesses those effects daily —sometimes even in his own office.The CEO of Pinnacle Bank recalls a local small business owner recently breaking down in tears in front of him while explaining how his company’s financial situation hadbecome so dire he was forced to lay off several longtime employees.It’s a story that Bridgeman has beenhearing from far too many area businesses these days. Several have closed in recent months, including the West Volusia Chamber of Commerce.The increasing need to provide loans to small businesses prompted Pinnacle last year to become the first community bank based in the Volusia-Flagler area to receive Troubled Asset Relief Program funds from the federal government.The nearly $4.4 million Pinnacle received from the TARP Capital Purchase Program should not be confused with the bailouts thefeds have been doling out to the so-called too-big-to-fail Wall Street firms and national banks.To qualify for TARP funds, community banks, unlike the banking giants, must prove they are financially sound.
Pinnacle, in both November and December, was ranked by the U.S. Small Business Administration as the No. 2 SBA lender in the North Florida district, which includes Volusia and Flagler counties, in terms of dollar amount.But “unduly harsh” restrictions placed by federal regulators, including requiring community banks to have higher than reasonable or necessary risk-weighted capital ratios, are making it increasingly difficult, if not impossible, for banks to continue issuing loans to small businesses, says Bridgeman.
If President Obama and Congress are serious about wanting to encourage banks to give Main Street businesses a helping hand, they need to ease restrictions on community banks, says Bridgeman. Making federal funds available to community banks is good and fine, but of no use if those funds come with too many strings attached, he says.On Feb. 11, (February 26th at 10:00 a.m) Bridgeman will get a chance to tell members of Congress.Thanks to a recommendation from Congressman John Mica (R-Winter Park), Bridgeman recently received an invitation from the office of U.S. Rep. Barney Frank to testify before a joint-meeting of the House financial services and small business committees in Washington, D.C.“They wanted somebody who is a real banker down in the trenches that’s been recently examined by the FDIC … someone in banking where the rubber meets the road,” Bridgeman explains.They certainly found a person who fits that bill in Bridgeman.
Wonder if Conressman John Mica plays golf?Mica: Florida Community Banker Makes Plea to CongressWashington, Feb 26 -Washington, .C. — At the request of Congressman John L. Mica (FL-07), community bank President David Bridgeman of Pinnacle Bank in Orange City testified before a joint Congressional Panel on the plight of local banks. Bridgeman is the only witness in a three panel Congressional hearing not representing a major financial or banking trade association. Congressman Mica was instrumental in both calling for the hearing and making certain that Florida community bankers that have been hard hit by Federal Regulators had a voice in their attempts to restart lending. This joint hearing held by the House Committee on Financial Services and House Committee on Small Business addressed the difficulties faced by community banks as they have been stymied by federal regulators.
In David Bridgeman’s testimony he spoke on “[T]he challenges impacting small and commercial real estate credit availability.” Bridgeman went on to say, “Community banks are the life blood for small business in America…Although community banks hold around 11% of total industry assets, community banks originate 38% of all small business and farm loans.”
Bridgeman stated that, “Pinnacle [Bank] did not make the subprime or exotic risky mortgages nor did we invest in complex derivative securities that led to the current crisis…Pinnacle Bank was the second largest SBA lender in North Florida.”
“We ended 2009 in a strong capital position,” Bridgeman continued, “Despite the bank’s strong capital position…the FDIC field examination…is recommending that our capital status be downgraded to ‘Adequately Capitalized’…This type of heavy handedness from the regulators is ultimately obstructing the economic recovery.”
Bridgeman mentioned the challenges of “Viable businesses with good credit histories and reasonable equity cannot obtain loans because their income and liquidity to support debt repayment are not sufficient for banks to make a loan using prudent underwriting standards.”
To summarize Bridgeman stated that, “The current regulatory environment is having a debilitative affect on local lending.”
Congressman Mica was encouraged to have our community represented at this hearing and went on to say, “We need to make sure that capital is available for job creation. Jobs are a top priority.”
http://mica.house.gov/news/DocumentPrint.aspx?DocumentID=173852
Tags:debt ceiling, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | 4 Comments »
December 17, 2011
Arlan D Ivie IV makes $308K a year
He took $40MM of your tax payer money and hasn’t even paid interest on it since 2010
His salary includes country club fees and car allowances
Bow tie not financed by the tax payer
Reliance Bank, St. Louis Missouri is on the problem bank list. The company took $40MM in tax payer funded bailout money, which it can’t repay. Then again, they haven’t even paid interest, since 10/10. The stock is delisted
Assets are $1.1B, with supposed equity of $86MM.
The actual equity is $46MM, the $40MM in tax payer funding is debt not preferred stock.
Are you sitting down? The problem loan portfolio is $171MM!
Hold on, they have $171MM in problem loans and $46MM in equity.
This place is bankrupt.
This place needs to be shut down immediately.
Why haven’t the incompetent regulators shut this place down? Because the are idiots.
Check out the financial performance. Net income was ($4MM) in FY10, ($37MM) in FY09 and ($20MM) in FY08.
They lost another $12MM in Q2 2011.
The bank lost another $16MM in Q3 2011.
So how are they going to pay back the $40MM. The tax payer is screwed.
Have no fear, the executives won’t pay back the $40MM, but they had not problem paying themselves.
Arlan D Ivie lV made $308k
Jerry S Von Rohr made $347k
Dale Oberkell made $236k
Daniel Jasper made $191k
David Matthews made $189k
Don’t worry, these salaries included country club fees and car expenses.
It is a good thing that the $40MM from the tax payer, is paying for this crew to play golf, while bankrupting the company.
Arlan D Ivie IV, I am not sure the world really needs four Arlan D Ivie’s. Number four has done enough damage, this clown wiped out 33% of the equity in 3 years.
Arlan D., you took $40MM from the tax payer, didn’t pay it back, bankrupted the company, racked up $183MM in bad loans and wiped out the stock holders. You pay yourself $308k and the tax payer pays for your country club expenses. You got it made.
Reliance Bank, you can rely on them to take $40MM in tax payer money, and not pay it back.
Take your money out of this disaster
Arlan where is the $40MM you took from the tax payer?
Do you have one in this disaster?
I am not sure I would put much reliance in this bankrupt entity
Gotta love the bow tie.
These are savvy bankers.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | 2 Comments »
December 17, 2011
This is Michael F$$ing Sapp
Michael Sapp stole $30,000,000 in tax payer which he can’t pay back
This criminal makes $727,000 to steal your money
This Sapp’s bank is on the problem bank list, do you have money with this crook?
The tier 1 capital is .95%, which is considered critically under capitalized.
This fat slob runs one of the worst banks in the country
This guy took $30MM of you tax payer money, which he can’t pay bank
He gets paid $727K to bankrupt this place, this is one of the worst banks in the country, this place is bankrupt
Who is the Sapp Michael or the taxpayer , this fat cat is not hungry, he has 3 chins
This is Martin Zorn, this fat pig makes $663,000 a year
This slob took $30,000,000 of your money
Martin runs one of the worst banks in the country
Martin should be in jail
Martin where the F$$ck is the $30,000,000 you stole from the tax payer
I stuck it up the tax payers Ass and got paid $663,000
Tennessee Commerce Bank Franklin Tennessee was founded in 2000. The company took $30MM in tax payer funded bailout money, which it won’t pay back. They have recently entered into a consent order with the regulators, putting them on the problem bank list.
They lost $116MM in Q3 2011 whereby, wiping out the equity from $124MM to $11MM or 1,027% in only 90 days.
The tier 1 capital is .95%, which is considered critically under capitalized.
Assets are $1.5B with supposed equity of $11MM.
The actual equity is ($19MM), as the $30MM in tax payer money is debt not preferred stock
The problem loan situation is incredible. They have $140MM in problem loans
Having $94MM in problem loans and ($19MMM) in equity, is a serious problem.
Here is Martin Zorn he makes $663,000
Martin stole $30,000,000 of your money
This Redneck is not going hungry
Marin has about 12 chins
This bank is bankrupt.
Why isn’t this place shut down
This Lamar Cocks, this bald headed Cock makes $647,000
This Cock stole $30,000,000 of your money
Why is this cock smiling, he is bending over the tax payer
Why aren’t they on the problem bank list?
Net income was $1.9MM in FY10 and ($7MM) in FY09.
How are they going to pay back the tax payer $30MM? It is pretty obvious that they can’t.
They might not be paying back the tax payer however, the executives have no problem paying themselves.
Michael Sapp made $727k
Frank Perez made $503k
H Lamar Cox made $640k
Charles Rogers made $947k
Martin Zorn made $663k
That is great pay for running this bank into the ground.
Michael Sapp, you pay yourself $727k for wiping out the bank and the shareholders, taking tax payer money and not paying it back. You have it made.
Hey Michael Sapp, where is the tax payers $30MM you took?
This management team pays themselves well for bankrupting this place in record time.
Do you have money in this disaster?
You must be a Sapp.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | 2 Comments »
July 27, 2011
This is Joe Campanelli, he is the one who bankrupted Sovereign Bank
Joe took $266,000,00 of tax payer money
This bank is insolvent, take out you money before Joe Campanelli destroys another bank
Joe makes $6,400,000 a year to steal tax payer money
Joe lost $37,000,000 in Q4 2011 alone, this place is bankrupt!
Joe is sitting on $1,000,000,000 in junk loans
Joe makes $24,000 a day!
Joe makes $3,000 an hour
This disaster is on the problem bank list
Joe’s bank lost $1,100,000,000 in the last 3 years
Joe is one savvy banker
This is Sal Rinaldi he makes $900,000 for running this bank into the ground
Wonder why this clown is bald? He is sitting on $900,000,000 in Sh$$$t loans
Do you have this guy watching you money
Would you trust guy with guy with your money?
This is Joe Campanelli, he is the one who bankrupted Sovereign Bank, he took $266MM of tax payer money, to prop up this bankrupt place. This bank is insolvent, take out you money before Joe Campanelli destroys another bank
The took $266MM of you tax payer funded money which they won’t pay back
They pay him $6.4MM a year or $24,000 a day to run this place
That is $3,000 an hour
What does the average person make in Troy Michigan?
Scarface?
Flagstar Bank, Troy Michigan was founded in 1987. The company took $266MM in tax payer funded bailout money, which it won’t or can’t pay back. The company is on the problem bank list. They were cited for unsafe and unsound banking practices. They have also have been restricted from further growth, by the regulators.
Assets are $13.6M, with supposed equity of $1.3B in equity.
The actual equity is actually $1,034B, as the $266MM it took in tax payer bailout funds is debt, not so called preferred stock.
The problem loan portfolio, in relation to the equity base is staggering. The problem loan portfolio is $898MM. Get this, they have $628MM in OREO. Imagine how much they have in classified loans on top of this.
So, they have $898MM in problem loans, supported by only $1,034B in equity.
FLAGSTAR IS BANKRUPT, THE FDIC IS BANKRUPT
This place is insolvent.
Why isn’t this bank shut down?
Maybe, because it owes the tax payer $266MM, which it can’t pay back.
This insolvent bank is being propped up by tax payer funding.
Not only are they good at making bad loans, they are great at losing money.
Net income was ($395MM) in FY10, ($513MM) in FY09 and ($275MM) in FY08. They lost another $23MM in Q1 2011.
They lost another $75MM in Q2 2011.
Based on this stellar performance, how are they going to pay back the tax payer $266MM? They can’t.
The efficiency ratio is 96%, this place loses money just opening the doors. Do you think the operating leverage might be a little high?
Wow, they lost $1,183B in only 3 years!
The executives are in the process of bankrupting this place, at least they pay themselves well for doing it.
Joseph Campanelli made $6.4MM
Paul Bargo made $750M
Salvatore Rinaldi made $900M
Matthew Rostin made $809k
That is great pay for wiping out the shareholders and running this place into the ground.
Joseph Campanelli has way no of paying back the $266MM, he took from the taxpayer, but he gets paid $6.4MM.
Joseph, the tax payer wants their $266MM back, where is it?
Take a look at this, the bank paid $13.3MM in interest to the tax payer on the $266MM they took, but these 4 paid themselves $8,859M. That is good pay for losing $395MM. Based on this pathetic performance, this must be the most most over paid management team in the country.
Joseph Campanelli makes $24,000 a day, he makes more than the average person in Flint MI makes in a year.
The stock is $1.25 a share, ROE is (23%), with a market capitalization of $656MM. The regulators have prohibited them from paying dividends.
They better pay this management team well, the investors would hate to lose them.
Moody’s rating (July 2011) D+ for financial strength Ba1/not prime for deposits Outlook Negative
Do you have money in this bank ?
Ba1/not prime for deposits, is probably not a place one should keep their money.
Tags:commercial loans, debt ceiling, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | 4 Comments »
July 23, 2011
Wonder why the FDIC is bankrupt?
Academy Bank won’t even pay interest on the $146MM they took from the tax payer
Academy Bank, Colorado Springs Colorado was founded in 1966. The company is on the problem bank list. The Texas ratio is 69%. The banks parent Dickenson Financial Corporation took $146MM in tax payer funded bailout money, which it hasn’t repaid. It hasn’t even paid interest on these funds since 5/09.
Assets are $300MM and equity is $50MM.
The problem loan portfolio is $43MM.
This place is insolvent.
Why isn’t this place closed down?
This place has serious problems.
Is this your bank?
Tags:commercial loans, debt ceiling, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | Leave a Comment »
July 23, 2011
These A$$$holes should be in jail not on the golf course
Wow, these fat cats took $4.4MM of your money, which they haven’t even bothered to pay interest on since 5/10
It is good that they have time to play golf on the tax payers money
That cat on the left isn’t missing any meals thanks to TAARP, that stomach is all bought and paid for thanks to the tax payer
These boys are down in the trenches or maybe bunkers
Using tax payer money to sponsor golf tournaments, who is better than these bankers, and they are bankrupt.
Do you think that clown in the middle has done any hazardous commercial real estate lending?
Excessive or Luxury Expenditure Policy
Entertainment:
Entertainment is defined as an activity that an Employee or Executive would use corporate funds for business development purposes relating to a current customer or prospective customer, or to further enhance the Company’s marketing efforts.
Our policy is that all expenses incurred to the Bank would be for Company purposes, and used to drive business to the Bank. Occasional events such as taking customers or prospects on trips, playing golf, eating dinner, or taking them to other events the customer/prospect would find pleasurable is a necessary part of the Company’s marketing efforts and is not deemed as “luxury” or a violation of this Policy. These expenses should be documented and detailed as to the benefit derived by the Bank through the normal accounts payable process.
Events and parties focused on customers for the purpose of attracting their business would not fall under this Policy.
These boys are on the problem bank list and living large.
This fat cat bankster is David Bridgeman
David took $4,400,000 of your money which he can’t pay back
David Bridgeman hasn’t even paid interest on the money he stole since 5/10
David’s bank is on the problem bank list for hazardous commercial lending
Gotta love the pubic hair on his fce
Pinnacle Bank Orange City Florida was founded in 1999. The company took $4.4MM in tax payer funded bailout money, which they won’t pay back. Then again, they haven’t even paid interest on it since 5/10. They are also on the problem bank list for hazardous commercial real estate lending. The Texas ratio is 73%.
Assets are $205MM and supposed equity is $13MM.
The actual equity is $8.6MM, as the $4.4MM in taxpayer funding they stole, is debt not preferred stock.
The problem loan portfolio is $17MM.
With $17MM in problem loans and $8.6MM in equity, this place is bankrupt.
How are they going to pay the tax payer back the $4.4MM? They can’t even pay the interest.
David Bridgeman is the CEO.
This guy stole tax payer money, can’t pay it back and ran this place into the ground. Pinnacle?
Check out the website, here is a quote from David Bridgeman, “they wanted somebody who’s a real banker, down in the trenches, who has recently been examined by the FDIC”.
David, the FDIC examined you and put you on the problem bank list.
David, where is the $4.4MM you owe the tax payer, how about at least paying the interest.
Do you have money in this debacle.
They are the Pinnacle, of making bad loans.
Tags:debt ceiling, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | 8 Comments »
July 19, 2011
John Mozena took $6MM of you tax payer money, which he won’t pay back
Wow, he was also able to get this place on the problem bank list, maybe the $23MM in problem loans had something to do with this
This guy is not going hungry, looks like he eats premium food
Is this guy corn fed or A$$ fed, looks gay to me
Premium Bank, Dubuque Iowa was founded in 1999. They took $6MM in tax payer funded bailout funds, which they won’t pay back. They are also on the problem bank list.
Assets are $279MM with supposed equity of $23MM.
The actual equity position is $17MM, as the $6.3MM is debt owed to the tax payer, not so called preferred stock.
The problem loan portfolio is $23MM.
They have $23MM in problem loans and $17MM in equity.
This place is looking bankrupt.
John Mozena is the CEO.
John, the tax payer wants their $6.3MM back.
John, the company made $609MM in Q1, why isn’t this money going to the tax payer?
Do you have money in this bank?
This place is not exactly premium.
Tags:debt ceiling, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
July 19, 2011
Who is the CEO, he is anonymous after taking $6.3MM of your money
This place is intercontinental.
First Intercontinental Bank, Doraville Georgia was founded in 2000. The company took $6.3MM in tax payer funded bailout money, which it won’t pay back. For some reason they are not on the problem bank list, despite having a Texas ratio of 64%.
Assets are $269MM, with equity of $30MM.
The problem loan portfolio is $36MM.
Having $36MM in problem loans and $30MM in equity is not a good scenario.
They are probably insolvent.
Why aren’t they on the problem bank list?
Net income was $130k in FY10 and $36k in FY09.
At this rate, how long will it take them to pay back $6.3MM to the tax payer. Eternity.
What kind of a name is First Intercontinental? They have 5 branches in Georgia, not exactly intercontinental.
Tags:debt ceiling, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
July 19, 2011
This is Don Ellis he stole $26,000,000 in tax payer money which he can’t pay back
Take a look at the new site
capital2risk.com
Don Ellis is sitting on $76,000,000 in bad loans
Don hasn’t even paid interest on the money he stole form you
This criminal hasn’t even paid interest on the money he stole since 10/10
Check out the banks motto “beyond the American dream” Don stealing $26,000,000 is beyond the American dream
Don got this bank on the problem bank list
This asshole has made $56,000,000 in bad loans, let alone taking $26,000,000 in TAARP
Don should be in jail
Don Ellis is a Patriot, he steals money from the government!
Might as well make this guy the CEO, he can’t be worse than Don Ellis
Wavy didn’t take $26MM of your money,
Don Ellis is legal
At least Wavy is a Patriot
Patriot Bank Houston Texas took $26MM in tax payer funded bailout out money which it won’t pay back. Then again, they haven’t even paid interest on the funds. The company is also on the problem bank list.
Assets are $948MM, with equity of $124MM.
The actual equity is $98MM, as the $26MM is debt owed to the tax payer, not so called preferred stock.
The problem loan portfolio is $58MM.
Having $58MM in problem loans and $98MM in equity, is not a good situation.
Don Ellis is the CEO.
Don, you took $26MM from the tax payer, won’t pay it back and won’t even pay interest on it.
Don Ellis is Patriot.
Do you give money to this place, because they already took your tax payer money.
1
FEDERAL DEPOSIT INSURANCE CORPORATION
WASHINGTON, D.C. and
TEXAS DEPARTMENT OF BANKING
AUSTIN, TEXAS
)
In the Matter of
)
)
PATRIOT BANK
)
HOUSTON, TEXAS
)
)
(Insured State Nonmember Bank)
)
)
CONSENT ORDER
FDIC 11-158b
OMMISSIONER ORDER No. 2011-016 C
The Federal Deposit Insurance Corporation (“FDIC”) is the appropriate Federal banking
agency for PATRIOT BANK, HOUSTON, TEXAS (“Bank”), under 12 U.S.C. § 1813(q).
The Texas Department of Banking (”Department”) is the appropriate state banking agency
for the Bank, under Texas Finance Code, Title 3, Subtitle A, §§ 31.001 et. seq.
The Bank, by and through its duly elected and acting board of directors, has executed a
“STIPULATION TO THE ISSUANCE OF A CONSENT ORDER” (“STIPULATION”), dated
May 13, 2011, that is accepted by the FDIC and the Banking Commissioner of Texas
(“Commissioner”). With the STIPULATION, the Bank has consented, without admitting or
denying any charges of unsafe or unsound banking practices relating to deterioration in asset
quality, capital protection, and earnings; weaknesses in liquidity; and deficiencies in management and oversight by the board of directors, to the issuance of this CONSENT ORDER (“ORDER”) by
the Regional Director of the Dallas Regional Office of the FDIC (“Regional Director”) and the
Commissioner.
Having determined that the requirements for issuance of an order under 12 U.S.C. § 1818(b)
and Texas Finance Code § 35.002 have been satisfied or waived, the FDIC and the Commissioner
hereby order that:
2
MANAGEMENT – BOARD SUPERVISION
1. Within 30 days after the effective date of this ORDER, the Bank’s board of directors
shall increase its participation in Bank affairs by assuming full responsibility for the approval of the
Bank’s policies and objectives and for the supervision of the Bank’s management, including all the
Bank’s activities. The board’s participation in the Bank’s affairs shall include, at a minimum: (a) Monthly meetings in which the following areas shall be reviewed and
approved by the board: reports of income and expenses; new, overdue,
renewed, insider, charged-off, delinquent, non-accrued, and recovered loans;
investment activities; operating policies; and individual committee actions;
(b) Board meeting minutes which document the board’s reviews and approvals
of the above reports, and which include the names of any dissenting
directors;
(c) Documentation in the board minutes that the directors have received training
on their duties and responsibilities in order to ensure the safe and sound
operation of the institution.
MANAGEMENT – SPECIFIC POSITIONS
2. (a) Within 90 days after the effective date of this ORDER, the Bank shall have
and retain qualified management. At a minimum, such management shall include:
(1) A chief executive officer with a demonstrated ability in managing a
bank of comparable size and with prior experience in upgrading a low
quality loan portfolio;
3
(2) A new Chief Credit Officer with an appropriate level of lending,
collection, and loan supervision experience for the type and quality of
the Bank’s loan portfolio; and
(3) Such person(s) shall be provided the necessary written authority to
implement the provisions of this ORDER.
The qualifications of management shall be assessed on its ability to:
(1) Comply with the requirements of this ORDER;
(2) Operate the Bank in a safe and sound manner;
(3) Comply with applicable laws and regulations; and
(4) Restore all aspects of the Bank to a safe and sound condition,
including asset quality, capital adequacy, earnings, management
effectiveness, and liquidity.
(b) While this ORDER is in effect, the Bank shall notify the Regional Director and the Commissioner in writing of any changes in any of the Bank’s directors or Senior Executive
Officers. For purposes of this ORDER, “Senior Executive Officer” is defined as in Section
303.101(b) of the FDIC’s Rules and Regulations, 12 C.F.R. § 303.101(b). Prior to the addition of
any individual to the board of directors or the employment of any individual as a Senior Executive
Officer, the Bank shall comply with the requirements of Section 32 of the Act, 12 U.S.C. § 1831i,
and Subpart F of Part 303 of the FDIC’s Rules and Regulations, 12 C.F.R. §§ 303.100 – 303.103.
Additionally, the Bank will obtain the written approval of the Commissioner prior to removing,
changing, or adding any new Senior Executive Officer, other executive officers or directors.
4
CLASSIFIED ASSETS – CHARGE-OFF AND PLAN FOR REDUCTION
3. (a) Within 30 days after the effective date of this ORDER, the Bank shall, to the
extent that it has not previously done so, eliminate from its books, by charge-off or collection, all
assets or portions of assets classified Loss by the FDIC or the Department as a result of its
examination of the Bank as of November 08, 2010. Elimination or reduction of these assets
through proceeds of loans made by the Bank shall not be considered “collection” for the purpose of this paragraph.
(b) Within 90 days after the effective date of this ORDER, the Bank shall submit
a written plan to reduce the remaining assets classified Doubtful and Substandard as of November
08, 2010 (“Classified Asset Plan”) to the Regional Director and the Commissioner for review. The
Classified Asset Plan shall address each asset so classified with a balance of $2,000,000 or greater.
The Classified Asset Plan shall include any classified assets identified subsequent to the November
08, 2010 examination by the Bank internally or by the FDIC or the Department in a subsequent
visitation or examination. For each identified asset, the Classified Asset Plan should provide the
following information:
(1) The name under which the asset is carried on the books of the Bank;
(2) Type of asset;
(3) Actions to be taken in order to reduce the classified asset; and (4) Time frames for accomplishing the proposed actions.
The Classified Asset Plan shall also include, at a minimum: (1) Review the financial position of each such borrower, including the
source of repayment, repayment ability, alternate repayment sources,
and a global cash flow analysis (if applicable); and
5
(2) Evaluate the available collateral for each such credit, including
possible actions to improve the Bank’s collateral position.
In addition, the Bank’s Classified Asset Plan shall contain a schedule detailing the projected
reduction of total classified assets on a quarterly basis. Further, the Classified Asset Plan shall
contain a provision requiring the submission of monthly progress reports to the Bank’s board of
directors and a provision mandating a review by the Bank’s board of directors.
(c) Within 30 days after the Regional Director’s and the Commissioner’s
response, the Classified Asset Plan, including any requested modifications or amendments shall be
adopted by the Bank’s board of directors which approval shall be recorded in the minutes of the
meeting of the Bank’s board of directors. The Bank shall then immediately initiate measures
detailed in the Classified Asset Plan to the extent such measures have not been initiated.
(d) For purposes of the Classified Asset Plan, the reduction of adversely
classified assets shall be detailed using quarterly targets expressed as a percentage of the Bank’s
Tier 1 Capital plus the Bank’s Allowance for Loan and Lease Losses and may be accomplished by:
(1) Charge-off;
(2) Collection;
(3) Sufficient improvement in the quality of adversely classified assets so
as to warrant removing any adverse classification, as determined by
the FDIC or the Department; or
(4) Increase in the Bank’s Tier 1 Capital.
(e) While this ORDER is in effect, the Bank shall eliminate from its books, by
charge-off or collection, all assets or portions of assets classified Loss as determined at any future
visitation or examination conducted by the FDIC or the Department. The Bank shall also update
6
the Classified Asset Plan as needed to reflect any assets subsequently classified as Doubtful or
Substandard by the Bank internally or by the FDIC or the Department.
CONCENTRATIONS – PLAN FOR REDUCTION
4. (a) Within 90 days after the effective date of this ORDER, the Bank shall
formulate and submit to the Regional Director and the Commissioner for review and comment a
written plan (“Concentrations Plan”) to reduce each of the loan concentrations of credit identified in
the Report of Examination as of November 08, 2010, to not more than 300 percent of the Bank’s
total Tier 1 Capital. Such Concentrations Plan shall prohibit any additional advances that would
increase the concentrations or create new concentrations and shall include, but not be limited to:
(1) Dollar levels to which the Bank shall reduce each concentration; and
(2) Provisions for the submission of monthly written progress reports to
the Bank’s board of directors for review and notation in minutes of
the meetings of the Bank’s board of directors.
(b) For purposes of the Concentrations Plan, “reduce” means to:
(1) Charge-off;
(2) Collect; or
(3) Increase Tier 1 Capital.
(c) After the Regional Director and the Commissioner have responded to the
Concentrations Plan, the Bank’s board of directors shall adopt the Concentrations Plan as amended
or modified by the Regional Director and the Commissioner. The Concentrations Plan shall be
implemented immediately to the extent that the provisions of the Concentrations Plan are not
already in effect at the Bank.
7
REDUCTION OF ADVERSELY CLASSIFIED LOANS TO INSIDERS
5. (a) Within 90 days after the effective date of this ORDER, the Bank shall
prepare and submit to the Regional Director and the Commissioner for review and comment a
written plan to reduce the amount of loans or other extensions of credit advanced, directly or
indirectly, to or for the benefit of Bank directors, executive officers, principal shareholders, or their
related interests which were adversely classified in the Report of Examination as of November 08,
2010 (“Insider Loan Reduction Plan”). For purposes of the Insider Loan Reduction Plan, the terms
used in this section shall have the same definition provided them in Part 215 of Regulation O, 12
C.F.R. Part 215. Such Insider Loan Reduction Plan shall include, but not be limited to:
(1) Dollar levels to which the Bank shall reduce each extension of credit
within six months and one year after the effective date of this
ORDER; and
(2) Provisions for the submission of monthly written progress reports to
the Bank’s board of directors for review and notation in minutes of
the meetings of the board of directors. As used in this paragraph,
“reduce” means to:
a. Charge-off
b. Collect, or c. Improve the quality of such assets so as to warrant removal of
any adverse classification by the FDIC and the Department.
(b) After the Regional Director and the Commissioner have responded to the
Insider Loan Reduction Plan, the Bank’s board of directors shall adopt the Insider Loan Reduction
Plan as amended or modified by the Regional Director and the Commissioner. The Insider Loan
Reduction Plan will be implemented immediately to the extent that such provisions are not already
8
in effect at the Bank. No new loans or other extensions of credit shall be granted to or for the
benefit of such insiders without first providing the Regional Director and the Commissioner 30 days
prior written notification of the anticipated action. RESTRICTION ON ADVANCES TO CLASSIFIED BORROWERS
6. (a) While this ORDER is in effect, the Bank shall not extend, directly or
indirectly, any additional credit to or for the benefit of any borrower whose existing credit has been
classified Loss by the FDIC or the Department as the result of its examination of the Bank, either in
whole or in part, and is uncollected, or to any borrower who is already obligated in any manner to
the Bank on any extension of credit, including any portion thereof, that has been charged off the
books of the Bank and remains uncollected. The requirements of this paragraph shall not prohibit
the Bank from renewing credit already extended to a borrower after full collection, in cash, of
interest due from the borrower.
(b) While this ORDER is in effect, the Bank shall not extend, directly or
indirectly, any additional credit to or for the benefit of any borrower whose extension of credit is
classified Doubtful and/or Substandard by the FDIC or the Department as the result of its
examination of the Bank, either in whole or in part, and is uncollected, unless the Bank’s board of
directors has signed a detailed written statement giving reasons why failure to extend such credit
would be detrimental to the best interests of the Bank. The statement shall be placed in the
appropriate loan file and included in the minutes of the applicable Bank’s board of directors’
meeting.
LOAN POLICY
7. (a) Within 90 days after the effective date of this ORDER, and annually
thereafter, the board of directors of the Bank shall review the Bank’s loan policy and procedures for
9
effectiveness and, based upon this review, shall make all necessary revisions to the policy in order
to strengthen the Bank’s lending procedures and abate additional loan deterioration. The revised
written loan policy shall be submitted to the Regional Director and the Commissioner for review
and comment upon its completion.
(b) The initial revisions to the Bank’s loan policy required by this paragraph, at a
minimum, shall include provisions:
(1) Designating the Bank’s normal trade area;
(2) Establishing review and monitoring procedures to ensure all lending
personnel are adhering to established lending procedures and that the
Bank’s board of directors is receiving timely and fully documented
reports on loan activity, including any deviations from the established
policy; (3) Requiring all extensions of credit originated or renewed by the Bank
be supported by current credit information and collateral
documentation, including lien searches and the perfection of security
interests; have a defined and stated purpose; and have a
predetermined and realistic repayment source and schedule. Credit
information and collateral documentation shall include current
financial information, profit and loss statements or copies of tax
returns, a global financial analysis, and cash flow projections, and
shall be maintained throughout the term of the loan;
(4) Requiring loan committee review and monitoring of the status of
repayment and collection of overdue and maturing loans, as well as
all loans classified “Substandard” in the Report of Examination;
10
(5) Requiring the establishment and maintenance of an accurate loan
grading system and internal loan watch list;
(6) Requiring a written plan to lessen the risk position in each line of credit identified as a problem credit on the Bank’s internal loan watch
list;
(7) Prohibiting the capitalization of interest or loan-related expenses
unless the Bank’s board of directors formally approves such
extensions of credit as being in the best interest of the Bank and
provides detailed written support of its position in the Bank’s board
minutes;
(8) Requiring that extensions of credit to any of the Bank’s executive
officers, directors, or principal shareholders, or to any related interest
of such person, be thoroughly reviewed for compliance with all
provisions of Regulation O, 12 C.F.R. Part 215 and Section 337.3 of
the FDIC’s Rules and Regulations, 12 C.F.R. § 337.3.
(9) Requiring a non-accrual policy in accordance with the Federal
Financial Institutions Examination Council’s Instructions for the
Consolidated Reports of Condition and Income;
(10) Requiring accurate reporting of past due loans to the Bank’s board of
directors on at least a monthly basis;
(11) Addressing concentrations of credit and diversification of risk,
including goals for portfolio mix, establishment of limits within loan
and other asset categories, and development of a tracking and
11
monitoring system for the economic and financial condition of
specific geographic locations, industries, and groups of borrowers;
(12) Establishing standards for extending unsecured credit;
(13) Establishing standards for the origination, renewal, or restructuring of
loans to ensure well-defined payment programs including guidance
on when and under what circumstances interest-only loans are
appropriate;
(14) Incorporating collateral valuation requirements, including:
a. Maximum loan-to-collateral-value limitations;
b. A requirement that the valuation be completed prior to a
commitment to lend funds;
c. A requirement for periodic updating of valuations; and
d. A requirement that the source of valuations be documented in
Bank records;
(15) Establishing standards for initiating collection efforts;
(16) Establishing guidelines for timely recognition of loss through chargeoff;
(17) Prohibiting the extension of a maturity date, advancement of
additional credit or renewal of a loan to a borrower whose obligations
to the Bank were classified “Substandard,” “Doubtful,” or “Loss,”
whether in whole or in part, as of November 08, 2010, or by the FDIC
or Department in a subsequent Report of Examination, without the
full collection in cash of accrued and unpaid interest, unless the loans
are well secured and/or are supported by current and complete
12
financial information, and the renewal or extension has first been
approved in writing by a majority of the Bank’s board of directors;
(18) Requiring that collateral appraisals be completed prior to the making
of secured extensions of credit, and that periodic collateral valuations
be performed for all secured loans listed on the Bank’s internal watch
list, criticized in any internal or outside audit report of the Bank, or
criticized in any Report of Examination of the Bank by the FDIC or
the Department;
(19) Prohibiting the issuance of standby letters of credit unless the letters
of credit are well secured and/or are supported by current and
complete financial information;
(20) Establishing limitations on the maximum volume of loans in relation
to total assets;
(21) Establishing review and monitoring procedures to ensure compliance
with FDIC’s regulation on appraisals pursuant to Part 323 of the
FDIC’s Rules and Regulations, 12 C.F.R. Part 323.
(c) The Bank shall submit the foregoing policy to the Regional Director and the
Commissioner for comment. After the Regional Director and the Commissioner have responded to
the policy, the Bank’s board of directors shall adopt the policy as amended or modified by the
Regional Director and the Commissioner. The policy will be implemented immediately to the
extent that the policy is not already in effect at the Bank.
13
LOAN COMMITTEE AND LOAN REVIEW REQUIREMENTS
8. (a) Within 30 days after the effective date of this ORDER, the Bank’s board of
directors shall establish a loan review committee to periodically review the Bank’s loan portfolio
and identify and categorize problem credits. The committee shall file a report with the Bank’s
board of directors at each board meeting. This report shall include the following information:
(1) The overall quality of the loan portfolio;
(2) The identification, by type and amount, of each problem or delinquent loan;
(3) The identification of all loans not in conformance with the Bank’s
lending policy; and
(4) The identification of all loans to officers, directors, principal
shareholders or their related interests. (b) At least fifty percent of the members of the loan review committee shall be
Independent Directors. For purposes of this ORDER, a person who is an Independent Director
shall be any individual:
(1) Who is not an officer of the Bank, any subsidiary of the Bank, or any
of its affiliated organizations;
(2) Who does not own more than 5 percent of the outstanding shares of
the Bank;
(3) Who is not related by blood or marriage to an officer or director of
the Bank or to any shareholder owning more than 5 percent of the
Bank’s outstanding shares, and who does not otherwise share a
common financial interest with such officer, director or shareholder;
14
and
(4) Who is not indebted to the Bank, directly or indirectly, by marriage,
common financial interest, or the indebtedness of any entity in which
the individual has a substantial financial interest in an amount
exceeding 5 percent of the Bank’s total Tier 1 Capital and Allowance
for Loan and Lease Losses; or
(5) Who is deemed to be an Independent Director for purposes of this
ORDER by the Regional Director and the Commissioner.
ALLOWANCE FOR LOAN AND LEASE LOSSES
9. Within 30 days after the effective date of this ORDER, the Bank must use Financial
Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Numbers 450
and 310 (formerly Statements Numbers 5 and 114 respectively)(“Number 450” and “Number 310”
respectively) for determining the Bank’s allowance for loan and lease losses reserve adequacy.
Provisions for loan losses must be based on the inherent risk in the Bank’s loan portfolio. The
Bank’s board of directors must document with written reasons any decision not to require
provisions for loan losses in the board minutes.
CAPITAL MAINTENANCE
10. (a) Within 90 days after the effective date of this ORDER and while this
ORDER is in effect, the Bank, after establishing an adequate Allowance for Loan and Lease Losses,
shall maintain its Tier 1 Leverage Capital ratio equal to or greater than 9.5 percent of the Bank’s
Average Total Assets; and shall maintain its Total Risk-Based Capital ratio equal to or greater than
13.5 percent of the Bank’s Total Risk Weighted Assets.
15
(b) If any such capital ratios are less than required by the ORDER, as determined
as of the date of any Report of Condition and Income or at an examination by the FDIC or the
Department, the Bank shall, within 30 days after receipt of a written notice of the capital deficiency
from the Regional Director and the Commissioner, present to the Regional Director and the
Commissioner a plan to increase the Bank’s Tier 1 Capital or to take such other measures to bring
all the capital ratios to the percentages required by this ORDER (“Capital Plan”). After the
Regional Director and the Commissioner respond to the Capital Plan, the Bank’s board of directors
shall adopt the Capital Plan, including any modifications or amendments requested by the Regional
Director and the Commissioner.
(c) Thereafter, to the extent such measures have not previously been initiated,
the Bank shall immediately initiate measures detailed in the Capital Plan, to increase its Tier 1
Capital by an amount sufficient to bring all the Bank’s capital ratios to the percentages required by
this ORDER within 60 days after the Regional Director and the Commissioner respond to the
Capital Plan. Such increase in Tier 1 Capital and any increase in Tier 1 Capital necessary to meet
the capital ratios required by this ORDER may be accomplished by:
(1) The sale of securities in the form of common stock; or
(2) The direct contribution of cash subsequent to November 08, 2010, by
the directors and/or shareholders of the Bank or by the Bank’s
holding company; or
(3) Receipt of an income tax refund or the capitalization subsequent to
November 08, 2010, of a bona fide tax refund certified as being
accurate by a certified public accounting firm; or
(4) Any other method approved by the Regional Director and the
Commissioner.
16
(d) If all or part of the increase in Tier 1 Capital required by this ORDER is to be
accomplished by the sale of new securities, the Bank’s board of directors shall adopt and implement
a plan for the sale of such additional securities, including soliciting proxies and the voting of any
shares or proxies owned or controlled by them in favor of the plan. Should the implementation of
the plan involve a public distribution of the Bank’s securities (including a distribution limited only
to the Bank’s existing shareholders), the Bank shall prepare offering materials fully describing the
securities being offered, including an accurate description of the financial condition of the Bank and
the circumstances giving rise to the offering, and any other material disclosures necessary to
comply with Federal securities laws. Prior to the implementation of the plan, and in any event, not
less than 20 days prior to the dissemination of such materials, the plan and any materials used in the
sale of the securities shall be submitted to the FDIC, Accounting and Securities Disclosure Section,
Washington, D.C. 20429, for review. Any changes requested to be made in the plan or the
materials by the FDIC shall be made prior to their dissemination. If the increase in Tier 1 Capital is
to be provided by the sale of non-cumulative perpetual preferred stock, then all terms and
conditions of the issue shall be presented to the Regional Director and the Commissioner for prior
approval.
(e) In complying with the provisions of this ORDER and until such time as any
such public offering is terminated, the Bank shall provide to any subscriber and/or purchaser of the
Bank’s securities written notice of any planned or existing development or other change which is
materially different from the information reflected in any offering materials used in connection with
the sale of the Bank’s securities. The written notice required by this paragraph shall be furnished
within 10 days after the date such material development or change was planned or occurred,
whichever is earlier, and shall be furnished to every purchaser and/or subscriber who received or
was tendered the information contained in the Bank’s original offering materials.
17
(f) The Capital Plan must include a contingency plan (“Contingency Plan”) that
shall include a plan to sell or merge the Bank in the event that the Bank:
(1) Fails to maintain the minimum capital ratios required by the Order,
(2) Fails to submit an acceptable Capital Plan or
(3) Fails to implement or adhere to a Capital Plan to which no written
objection was provided by the Regional Director and the
Commissioner.
The Bank shall be required to implement the Contingency Plan only upon written notice from the
Regional Director and the Commissioner.
(g) In addition, the Bank shall comply with the FDIC’s Statement of Policy on
Risk-Based Capital found in Appendix A to Part 325 of the FDIC’s Rules and Regulations, 12
C.F.R. Part 325, App. A.
(h) For purposes of this ORDER, all terms relating to capital shall be calculated
according to the methodology set forth in Part 325 of the FDIC’s Rules and Regulations, 12 C.F.R.
Part 325.
DIVIDEND RESTRICTION
11. As of the effective date of this ORDER, the Bank shall not declare or pay any cash
dividend without the prior written consent of the Regional Director and the Commissioner.
PROFIT PLAN
12. (a) Within 90 days after the effective date of this ORDER, and within the first 30
days of each calendar year thereafter, the board of directors shall develop a written profit
plan (“Profit Plan”) consisting of goals and strategies for improving the earnings of the Bank for
18
each calendar year. The written Profit Plan shall include, at a minimum: (1) Identification of the major areas in, and means by, which the board of
directors will seek to improve the Bank’s operating performance;
(2) Realistic and comprehensive budgets;
(3) A budget review process to monitor the income and expenses of the
Bank to compare actual figures with budgetary projections on not less
than a quarterly basis; and
(4) A description of the operating assumptions that form the basis for and
support major projected income and expense components.
(b) Such written Profit Plan and any subsequent modification thereto shall be
submitted to the Regional Director and the Commissioner for review and comment. Within 30 days
after the receipt of any comment from the Regional Director and the Commissioner, the Bank’s
board of directors shall approve the written Profit Plan which approval shall be recorded in the
minutes of the Bank’s board of directors. Thereafter, the Bank, its directors, officers, and
employees shall follow the written Profit Plan and/or any subsequent modification.
LIQUIDITY/ASSET/LIABILITY MANAGEMENT
13. (a) Within 90 days after the effective date of this ORDER, the Bank shall
develop and submit to the Regional Director and the Commissioner for review and comment a
written plan addressing liquidity and asset/liability management (“Liquidity Plan”). Annually
thereafter, while this ORDER is in effect, the Bank shall review the Liquidity Plan for adequacy
and, based upon such review, shall make necessary revisions to the Liquidity Plan to strengthen
funds management procedures and maintain adequate provisions to meet the Bank’s liquidity needs.
The initial Liquidity Plan shall include, at a minimum, provisions:
19
(1) Establishing a reasonable range for its net non-core funding ratio as
computed in the Uniform Bank Performance Report;
(2) Identifying the source and use of borrowed and/or volatile funds;
(3) Establishing lines of credit at correspondent banks, including the
Federal Reserve Bank that would allow the Bank to borrow funds to
meet depositor demands if the Bank’s other provisions for liquidity
proved to be inadequate;
(4) Establishing a minimum liquidity ratio and defining how the ratio is
to be calculated;
(5) Establishing a new liquidity contingency plan by identifying
alternative courses of action designed to meet the Bank’s liquidity
needs;
(6) Addressing the use of borrowings (i.e., seasonal credit needs, match
funding mortgage loans, etc.) and providing for reasonable maturities
commensurate with the use of the borrowed funds; addressing
concentration of funding sources; and addressing pricing and
collateral requirements with specific allowable funding channels (i.e.,
brokered deposits, internet deposits, Fed funds purchased and other
correspondent borrowings); and
(7) Establishing procedures for managing the Bank’s sensitivity to
interest rate risk which comply with the Joint Agency Statement of Policy on Interest Rate Risk (June 26, 1996), and the Supervisory
Policy Statement on Investment Securities and End-user Derivative
Activities (April 23, 1998).
20
(b) Within 30 days after the receipt of all such comments from the Regional
Director and the Commissioner, and after revising the Liquidity Plan as necessary,
the Bank shall adopt the Liquidity Plan, which adoption shall be recorded in the
minutes of a board of directors’ meeting. Thereafter, the Bank shall implement the
Liquidity Plan.
CORRECTION OF VIOLATIONS
14. (a) Within 90 days after the effective date of this ORDER, the Bank shall
eliminate and/or correct all violations of law and regulation noted in the Report of Examination.
(b) Within 90 days after the effective date of this ORDER, the Bank shall
implement procedures to ensure future compliance with all applicable laws and regulations.
(c) Within 90 days after the effective date of this ORDER, the Bank shall
address any contraventions of policy noted in the Report of Examination.
BUSINESS PLAN
15. While this ORDER is in effect, the Bank shall not enter into any new line of
business without the prior written consent of the Regional Director and the Commissioner.
SHAREHOLDER NOTIFICATION
16. After the effective date of this ORDER, the Bank shall send a copy of this ORDER,
or otherwise furnish a description of this ORDER, to its shareholders (1) in conjunction with the
Bank’s next shareholder communication, and also (2) in conjunction with its notice or proxy
statement preceding the Bank’s next shareholder meeting. The description shall fully describe the
ORDER in all material respects. The description and any accompanying communication,
21
statement, or notice shall be sent to the FDIC Accounting and Securities Disclosure Section,
Washington, D.C. 20429, for review at least 20 days prior to dissemination to shareholders. Any
changes requested by the FDIC shall be made prior to dissemination of the description,
communication, notice, or statement.
PROGRESS REPORTS
17. (a) Within 30 days after the end of the first calendar quarter following the
effective date of this ORDER, and within 30 days after the end of each successive calendar quarter,
the Bank shall furnish written progress reports to the Regional Director and the Commissioner
detailing the form and manner of any actions taken to secure compliance with this ORDER and the
results thereof. Such reports may be discontinued when the corrections required by the ORDER
have been accomplished and the Regional Director and the Commissioner have released the Bank
in writing from making additional reports.
(b) The provisions of this ORDER shall not bar, stop, or otherwise prevent the
FDIC, the Department, or any other federal or state agency or department from taking any other
action against the Bank or any of the Bank’s current or former institution-affiliated parties.
This ORDER shall be effective on the date of its issuance by the FDIC and the
Commissioner.
The provisions of this ORDER shall be binding upon the Bank, its institution-affiliated
parties, and any successors and assigns thereof.
22
The provisions of this ORDER shall remain effective and enforceable except to the extent
that, and until such time as, any provision has been modified, terminated, suspended, or set aside by
the FDIC and the Commissioner.
This ORDER is signed by the Regional Director pursuant to delegated authority.
Issued and made effective this 13th day of May, 2011.
/s/ Kristie K. Elmquist
Acting Regional Director
Dallas Region
Division of Risk Management Supervision
Federal Deposit Insurance Corporation
/s/
Charles G. Cooper
Commissioner
Texas Department of Banking
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Non repayment of Gov. bailout funds, Problem Bank list | 20 Comments »
July 16, 2011
Under capitalized bank list ?
Problem bank list?
Goldwater Bank, Scottsdale Arizona was founded in 2007. Great timing. The company took $2.5MM in tax payer funded bailout money, which they can’t pay back. Then again, they haven’t even paid interest on this money since 2/10. They are also on the problem bank list. The Texas ratio is 103%.
They are also on the under capitalized bank list. You might as well slap them on the insolvent bank list.
Assets are $190MM with equity of $5MM.
The problem loan portfolio is $11MM
With $11MM in problem loans and $5MM in equity, they are bankrupt.
Net income was ($1.5MM) in FY10 and ($7.8MM) in FY09. They lost another $3MM in Q1 2011.
They lost another $3MM in Q2.
With net income of $7MM and overhead of $25MM in FY10, these clowns lose money just opening the doors, let alone making a ton of bad loans.
Do you have money in this disaster?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in debt ceiling, executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | Leave a Comment »
July 15, 2011
KS Bank Smithfield North Carolina was founded in 1924. The company took $5MM in tax payer funded bailout money, which it won’t pay back. The Texas ratio is 53%. The stock is delisted.
Assets are $334MM with equity of $30MM.
The actual equity is $26MM, as the $4MM in tax payer funding is debt not preferred stock.
The problem loan portfolio is $31MM.
Hold on they have $31MM in problem loans with only $26MM in equity and they aren’t on the problem bank list?
This place is insolvent.
Why are they not on the problem bank list?
Harold Keen is the CEO.
Harold, where is the $4MM you stole from the tax payers?
Harold you took tax payer money, which you won’t pay back, and wiped out the stockholders.
Do you have money in this bank?
KY bank, lubed by tax payer money.
Tags:debt ceiling, executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in debt ceiling, Non repayment of Gov. bailout funds | Leave a Comment »
July 14, 2011
where is the $7.5MM you took from the tax payer?
First State Bank, Gothenburg Nebraska was founded in 1906. The company took $7.5MM in tax payer funded bailout money, which they won’t pay back.
Assets are $289MM, with $39MM in supposed equity.
The actual equity is $31.5MM, as the $7.5MM is debt, not preferred stock.
The problem loan portfolio is $23.5MM.
With $23.5MM in bad loans and $31.5MM in equity, this place deserves a place on the problem bank list.
This bank is probably technically insolvent.
Net income was $2.6MM in FY10 and $2.6MM in FY09.
How come, they haven’t used this income to repay the tax payer?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
July 14, 2011
George Irwin took $5.4MM of your money which he won’t pay back
This place is bankrupt
Does George have your money?
Highlands State Bank, Vernon New Jersey was founded in 2005. That was a savvy time to start a bank. The company took $5.4MM in tax payer funded bailout money, which they won’t pay back.
Assets are $162MM with supposed equity of $16MM.
The actual equity is $11MM, the $5.4MM is debt owed to the tax payer, not preferred stock.
The problem loan portfolio is $7.6MM.
Having $7.6MM in debt and $11MM in equity, should at least get them on the problem bank list.
This bank is probably technically insolvent.
Net income was $447k in FY10 and ($1.7MM) in FY09.
How are they going to pay the $5.4MM to the tax payer, based on these pathetic results?
George Irwin, the CEO, wasted not time bankrupting this place.
George Irwin, the tax payer want their $5.4MM back , where is it your pocket?
George Irwin is a white collar criminal.
He bankrupted this place in record time, made a ton of bad loans and stole $5.4MM in tax payer money, which he won’t pay back.
Do you have money in this debacle?
Don’t give your money to George. He is taking your tax dollars.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
July 13, 2011
Covenant Bank, Clarksdale Mississippi was founded in 2000. The company took $5MM in tax payer funded bailout money, which they can’t pay back. Then again, they haven’t even paid interest on this money since 5/10. For some reason they are not on the problem bank list. I guess not paying back tax payer money, or even not paying interest on it, is not a problem for the regulators.
Assets are $243MM with supposed equity of $22MM.
The actual equity position is $19MM, as the $5MM in debt owed to the tax payer, not preferred stock.
The problem loan portfolio is $10MM.
Net income was ($222k) in FY10 and ($803MM) in FY09. They lost another $243k in Q1 2011.
How are they going to pay back $5MM. It is not happening
Freddie Britt, the President, wiped this place out at a record pace.
Freddie, the tax payer wants the $5MM back, where is it?
Freddie, you get paid but you won’t even pay interest on money you stole, from the tax payer.
Do you have money in this disaster?
Here is a covenant, Freddie Britt is going to take you money, not pay it back, let alone pay interest on it and pay himself. Freddie has it made.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
July 13, 2011
Idaho Banking Company, Boise Idaho was founded in 1996. The company took $6.9MM in tax payer funded bailout money, which they can’t pay back. They haven’t even paid dividends on these funds since 5/09. They are also on the problem bank list for hazardous CRE lending. The Texas ratio is 196%, making it the worst bank in the state. The stock is delisted.
They are also on the under capitalized bank list. If there were an insolvent bank list, they would be on that also.
Check out the website, they temporarily suspended residential lending, do you think they are F$$$cked?
Assets are $174MM with supposed equity of $4.7MM.
The actual equity is zero, as the $6.9MM, that they owe the tax payer, is debt not preferred stock.
The art of banking is stealing $6,900,000 from the tax payer
The art of banking is being on the under capitalized bank list
This bank is beyond bankrupt.
Why isn’t this place closed.
Net income was ($9MM) in FY10 and ($11MM) in FY09. They lost another $2MM in Q1 2011.
They lost another $3.5MM in Q2 and wiped out 58% of the remaining equity in 3 months, that is a great effort. The equity position is down to $5.7MM. This place could be history in 3 months.
The bank lost $4.7MM, in Q3 2011 wiping out another 91% of the the remaining equity.
How are they ever going to pay back the tax payer $6.9MM They can’t.
James Latta, the CEO, did a great at bankrupting this place.
Is this your bank?
You better head for the hills.
James Latta should be in jail?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | 4 Comments »
July 13, 2011
Take a look at the new site
capital2risk.com
http://www.capital2risk.com/nbrs-financial-rising-sun-maryland/
Here is Joseph Snee he took $6,000,000 in bailout money, which he won’t pay back
Joseph you haven’t even made a dividend payment since 2009
This disaster is sitting on $21,000,000 in bad loans with only $15,000,000, they are technically insolvent
These jokers lost $1,578,000 in Q4 2011
The Texas ratio is 98%, this is one of the worst banks in the state
tDo you have money in this zombie?
The sun is not rising on this disaster!
Take your money out of this place, they are bankrupt!
NBRS Financial, Rising Sun Maryland was founded in 1880. The company took $6MM in tax payer funded bailout money, which they haven’t paid back. Then again, they haven’t even paid interest on these funds since 8/09. They are also on the problem bank list. The Texas ratio is 63%. The stock is delisted.
Check out John Giovanz, the Senior Lender
Wonder why he has not hair? Because he is sitting on $21,000,000 in junk loans
The stock is delisted
Assets are $262MM,, with supposed equity of $15MM.
The actual equity is $9MM, as the $6MM in tax payer funds is debt not equity.
The problem loan portfolio is $23MM.
With $23MM in bad loans and $9MM in equity, this bank is insolvent.
Not only is this bank bankrupt, it is being propped up with tax payer funding.
Jack Goldstein, is the CEO, he has done an admirable job at running a 133 year old bank into the ground.
Jack, the tax payer wants their $6MM back.
Jack, you don’t even pay interest on the money you stole.
Jack Goldstein, where is the $6MM, in your pocket?
Take you money out of this debacle.
This clown won’t even pay interest on the money he stole from the tax payer.
Do you have money in this bank.
The sun is not rising on this disaster.
They are planning on a $7MM stock offering, who would invest in this debacle.
The sun ain’t rising on Jack
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | Leave a Comment »
July 13, 2011
Take a look at the new sight
capital2risk.com
This is Steve Fleming, this criminal took $9,800,000 of your money which he can’t pay back
Steve lost $6,266,000 Q4 2011
This savvy bankster wiped out 30% of the remaining equity in only 90 days!
Steve is not sitting on $21,000,000 in loans and only $20,000,000 in equity
Steve is looking like he has almost bankrupted this place
Do you have money in this disaster?
This Roger Smith, he stole $8,900,000 in tax payer money
Roger Smith where is the $8,900,000 you took from the tax payer?
Roger is sitting on $21,000,000 in bad loans, how the hell is he going to pay back the $8,600,000 he owes the tax payer?
Roger you lost $1,800,000 in Q3 2011, why is this A hole smiling?
River City Bank, Rome Georgia was founded in 2006. Great time to start a bank. The company took $8.9MM in tax payer funded bailout money, which it hasn’t paid back. The company in not on the problem bank list however, they have some serious problems. The Texas ratio spiked to 41%.
Assets are $217MM and supposed equity is $26MM.
The actual equity is $17MM, as the $8.9MM in tax payer funding is debt not preferred stock.
The problem loan portfolio is immense. They have $12MM in problem loans.
This is Jack Smith Rogers’s son, this dope looks like he can make some more bad loans
With $12MM in problem loans and $17MM in equity, this bank is bankrupt.
Why isn’t this place closed down?
Why aren’t they on the problem bank list?
Net income was $58k in FY10 and ($2.4MM) in FY09. Based on this stellar financial performance, how long will it take them to pay back the tax payer $8.9MM? How about never.
The efficiency ratio is 78%, this place loses money just opening up the doors.
Roger Smith is the CEO, he bankrupted this place in record time.
Roger, the tax payer wants their $8.9MM back, that you “borrowed”.
Roger, you get paid but you won’t pay back the tax payer!
Do have money in this bank?
This place is going down the river.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | 32 Comments »
July 12, 2011
This is Michael Dee, this bald clown too $6,000,000 of your tax payer money, which he can’t pay back
Look at this Dork, he hasn’t even paid interest on the money he stole from you since 2/10.
Michael Dee makes $186,000 a year to wipe out a 100 year old bank
This criminal made $27,000,000 in bad loans
Michael you lost over $3,000,000 in Q4 2011 alone how the hell are you pay back the tax payer? You can’t
Michael you wiped out your investors, the stock is 90 cents a share,
Michael gets a $6K car allowance for bankrupting this place
Do you have money with this thief?
Michael, were DEE F$$$$ is the $6,000,000 you took
This criminal won’t even pay the tax payer INTEREST on money he stole!
No wonder this guy is bald
The efficiency ratio is 82% this place loses money just waking up
Do you have money in this disaster?
This Bill Weidel, this clown is the CFO, he took $6,000,000 from the tax payer
Bill makes $147,000 except he won’t even pay interest on the money he stole
The Patapsco Bank, Dundalk Maryland was founded in 1910. The company took $6MM in tax payer funded bail out money, which they won’t pay back. They haven’t even made an interest payment, since 2/10. For some reason, they are not on the problem bank list. I guess not paying back, the $6MM to the tax payer or not even paying interest, is not a problem to the regulators.
Assets are $269MM, with reported equity of $17MM
The actual equity is $11MM, as the $6MM in bailout money is debt, not equity.
The problem loan portfolio is $23MM.
With $23MM in problem loans and $11MM in equity, this place looks insolvent.
How come this place is not closed down?
How come they aren’t on the problem bank list?
The executives might not care about paying the tax payer back, but they have no problem paying themselves.
Michael Dee made $186k
Laurence Mitchell made $144k
William Wiedel made $147k
That is good pay for bankrupting a 100 year financial institution.
Michael, you got paid, where is the $6MM you took from the tax payer?
Michael, you pay yourself, but you won’t even pay interest on the money you took.
Do you have money in this place?
The government is using your money to prop up this insolvent bank.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Problem Bank list, under capitalized | Leave a Comment »
July 10, 2011
This cat is kicking it down with $7MM of your cash
Wow this cat has the package
Heartland Bank Franklin Indiana was founded in 1996. The company too $7MM in tax payer funded bailout money, which it won’t pay back. The stock is delisted.
Assets are $229MM with equity of $21MM.
The actual equity is $13MM, the $7MM is really debt not preferred stock.
The problem loan portfolio is $16MM.
With a $16MM in bad loans and $13MM in equity, this thing is looking insolvent.
This bank should be closed down.
Why isn’t this place on the problem bank list?
Net income as ($423k) in FY10 and ($1.9MM) in FY09.
At this rate, how long will it take them to pay back $7MM to the tax payer?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | Leave a Comment »
July 10, 2011
One Georgia Bank, Atlanta Georgia was founded in 2006. That was one savvy time to start a bank. This place is a disaster. They took $5.5MM in tax payer funded bailout money. The bank has never even made one interest payment on this money. Six months after giving them $5.5MM, the government put them on the problem bank list. The Texas ratio is 353%. They are also on the under capitalized bank list.
Assets are $186MM with supposed equity of $3.7MM
The actual equity is ($1.8MM), the $5.5MM they took from the tax payer is debt, not so called preferred stock.
This place is bankrupt.
Why aren’t they closed down?
Hold on it gets better. The problem loan portfolio is $54MM.
So, this place has $54MM in bad loans and ($1.8MM) in equity.
Again, why isn’t this bank closed down?
Net income was ($1MM) in FY10, ($18MM) in FY09 and ($3MM) n FY08.
How long will it take them to pay back $5.5MM?
The management team wiped out 667% of the equity in 3 years.
This is One Zombie Georgia bank.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | 2 Comments »
July 9, 2011
Check out the new site
capital2risk.com
That fat slob on the left is Frank West
This bald clown stole $18,000,000 from the tax payer
First Security Bank, Batesville Mississippi was founded in 1952. The company took $17.9MM of your tax payer money, which it won’t pay back.
Assets are $523MM, with equity of $57MM.
The actual equity is $39MM, the $17.9MM that is owed to the tax payer is debt, not preferred stock.
The problem loan portfolio is $24MM.
Having $24MM in problem loans, with $39MM in equity is probably not a great situation.
This place is probably bankrupt.
Why isn’t this place at least on the problem bank list? Those regulators don’t quite have it figured out.
Net Income was $1,302MM in FY10, $798k in FY09 and $183k in FY08.
They paid dividends to the shareholders of $1.4MM in FY10, $1.4MM in FY09 and $1.4MM in FY08.
Hold on, they are making money, paying dividends to the stock holders but won’t pay back the tax payer. Something is wrong here.
Take a look at the Net Income, based on this financial performance, how long will it take them to pay back $17.9MM. 20 years sounds about right. However, that is contingent on them actually making payments.
Fortunately, even though the tax payer is not getting paid back, the executives are paying themselves well.
Frank West made $279k
William Fleming made $157k
Connie Hawkins made $157k
Connie Hawkins?
Jeff Herron made $156k
Dwayne Myers made $163k
Don’t worry, these salaries include country club fees and car allowances.
The tax payer is paying for these clowns to play golf.
Look on the bright side, at least when they are playing golf, they can’t make bad loans.
Frank West, you took $17.9MM from the tax payer, won’t pay it back, make a ton bad loans and wipe out the stock holders. They pay you $279k to bankrupt a 59 year bank and pay for you to play golf. You have it made.
Frank, seriously where is the $17.9MM?
Do you bank with these criminals.
First Security? The one secure thing is, the tax payer isn’t getting their $17.9MM back.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds | 7 Comments »
July 9, 2011
Mainline Bank Ebensburg Pennsylvania as founded in 1944. The company took $4.5MM in tax payer funded bailout money, which it has decided to not repay.
Assets are $244M with equity of $19MM.
The actual equity is $14.5MM, the tax payer funding is debt, not preferred stock as they are calling it.
Net income was ($988k) in FY10 and $303k in FY09.
Based on this stellar performance, how long will it take for them to pay back the tax payer $4.5MM? When is hell going to freeze over?
William Hoyne is the CEO.
William, are you paying yourself? How about paying the $4.5MM you owe the tax payer.
That’s right, the company makes no money, the tax payer is never getting paid back.
Do you have money here?
I would do a bee line from the Mainline.
This disaster is mainlining on your tax payer funded money, which it won ‘t pay back.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
July 9, 2011
Here is Roger Cromer he took $7,000,000 in tax payer money
Roger also wiped out the shareholders
Here is the Jr. Board of Directors, let these kids run the bank, can’t be worse the current board
Roger is sitting on $13,000,000 in junk loans
Crossroads Bank, Wabash Indiana was founded in 1920. The company took $7MM in tax payer funded bailout money, which it won’t pay back. The stock is delisted.
Assets are $322MM with equity of $22MM
The actual equity is $20MM, as the $7MM is debt owed to the tax payer, not so called preferred stock.
The problem loan portfolio is $9MM.
How about this buy as CEO, can’t he worse than Roger Cromer
Having $9MM in problem loans with $22MM in equity, could become a problem.
New Income was $633k in FY10, $2,287M in FY09 and $1,354M in FY08.
Hold on, this bank made $4,274M in profits and has made no payments on the tax payer money they took.
How come, they had money to pay dividends to the share holders?
Maybe because the executives are stock holders.
Roger Cromer is the CEO.
Hey Roger, the tax payer is looking for their $7MM back, where are you hiding it?
Roger, you got paid right? Why won’t you repay the tax payer who bailed you out.
Do you keep your money here? Your cash might be at a nasty crossroads.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Non repayment of Gov. bailout funds, under capitalized | 3 Comments »
July 9, 2011
Take a look at the new site
capital2risk.com
http://www.capital2risk.com/reliance-bank-st-louis-missouri/
This is Jerry S Von Roher, 2nd from right
Jerry took $40,000,000 in tax payer money TAARP money which he can’t pay back
Jerry S Von Screw the tax payer hasn’t even paid interest on this money since 10/10
Jerry is sitting on $171,000,000 in bad loans
Why is Jerry smiling? He makes $347,000 a year which includes country club a membership and car allowances
Not only did Jerry screw the tax payers, he wiped out the investors, the stock is delisted
Take you money out of this bank
Jerry, what does the S stand for “screw the tax payer
Arlan D Ivie IV makes $308K a year
He took $40MM of your tax payer money and hasn’t even paid interest on it since 2010
His salary includes country club fees and car allowances
Bow tie not financed by the tax payer
This Scott Von Rohr
This must be Jerry’s dumb ass son, I wonder how this dope got this job?
Do you have money in this bankrupt place?
Reliance? That is an oxymoron. Moron is the operative word for these clowns
Reliance Bank, St. Louis Missouri is on the problem bank list. The company took $40MM in tax payer funded bailout money, which it can’t repay. Then again, they haven’t even paid interest, since 10/10. The stock is delisted
Assets are $1.1B, with supposed equity of $86MM.
The actual equity is $46MM, the $40MM in tax payer funding is debt not preferred stock.
Are you sitting down? The problem loan portfolio is $171MM!
Hold on, they have $171MM in problem loans and $46MM in equity.
This place is bankrupt.
This place needs to be shut down immediately.
Why haven’t the incompetent regulators shut this place down? Because the are idiots.
Check out the financial performance. Net income was ($4MM) in FY10, ($37MM) in FY09 and ($20MM) in FY08.
They lost another $12MM in Q2 2011.
The bank lost another $16MM in Q3 2011.
So how are they going to pay back the $40MM. The tax payer is screwed.
Have no fear, the executives won’t pay back the $40MM, but they had not problem paying themselves.
Arlan D Ivie lV made $308k
Jerry S Von Rohr made $347k
Dale Oberkell made $236k
Daniel Jasper made $191k
David Matthews made $189k
Don’t worry, these salaries included country club fees and car expenses.
It is a good thing that the $40MM from the tax payer, is paying for this crew to play golf, while bankrupting the company.
Arlan D Ivie IV, I am not sure the world really needs four Arlan D Ivie’s. Number four has done enough damage, this clown wiped out 33% of the equity in 3 years.
Arlan D., you took $40MM from the tax payer, didn’t pay it back, bankrupted the company, racked up $183MM in bad loans and wiped out the stock holders. You pay yourself $308k and the tax payer pays for your country club expenses. You got it made.
Reliance Bank, you can rely on them to take $40MM in tax payer money, and not pay it back.
Take your money out of this disaster
Arlan where is the $40MM you took from the tax payer?
Do you have one in this disaster?
I am not sure I would put much reliance in this bankrupt entity
Gotta love the bow tie.
These are savvy bankers.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | 6 Comments »
July 8, 2011
Take a look at the new site
capital2risk.com
Excel? this disaster lost $5,675,000 in Q4 2011 wiping out almost 40% of the remaining equity
Hold on, they have $43,000,000 in junk loans and only in equity
This place is bankrupt!
Excel? How the hell are they going to pay back the $4,000,000 they stole from the tax payer?
This abortion doesn’t eve pay interest on the money the stole
Excel Bank Sedalia Missouri was founded in 1964. This bank is a bankrupt disaster. They took $4MM in tax payer funded bailout money, which they can’t pay back. Then again, they haven’t even paid interest on this since 10/09. They are also on the problem bank list, for hazardous commercial real estate lending. If there were an insolvent bank list, they would be on that also.
Assets are $273MM with equity of $20MM.
The actual equity is $16MM, the $4MM from the tax payer is debt, not so called preferred stock.
The problem loan portfolio is $41MM.
Hold on, they have $41MM in problem loans with only $16MM in equity.
This place is bankrupt, why aren’t they shut down?
How come the regulators haven’t closed this abortion down?
Check out the website, they won’t tell you who the CEO is.
Do you have your money in this train wreck?
Excel Bank? The only thing this place excels at, is making bad loans and running this thing into the ground.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | 2 Comments »
July 8, 2011
The Bank of Delmarva, Delmarva Maryland was founded in 1896. The company took $9MM in tax payer bailout funding, which it probably can’t be paid back.
The assets are $429MM with equity of $40MM.
The true equity is $31MM, as the $9MM in tax payer money is debt not preferred stock.
The problem loan portfolio is $18MM.
They have $18MM in problem loans and $31MM equity and can’t even get a spot on the problem bank list.
The problem loans could easily wipe out the equity position.
Net income was $175k in FY10 and $729k in FY09. Based on these figures, how long will it take them to pay back the $9MM? How about forever.
Edward Thomas is the CEO.
Edward, when are you going to pay the tax payer back the $9MM you took?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Insolvent, Problem Bank list | Leave a Comment »
July 8, 2011
First National Bank Fox Valley, Neenah Wisconsin was founded in 1887. The company took $4.7MM in tax payer funded bailout money, which it can’t pay back. The stock is delisted.
Assets are $308MM with equity of $27MM.
The problem loan portfolio is $6MM.
Net income was $600k in FY10. How long will it take them to pay back $4.7MM? How about a decade.
Hold on, take a look at the annual report. They are going to roll the TAARP funds into the Small Business Lending Fund, which is just another name for TAARP. This will lower their rate and get rid of the stigmatization associated with TAARP. This will lower their rate. However, they still can’t repay the money. The tax payer gets screwed again.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
July 8, 2011
This Richard Lerner he took $8MM of your tax payer money, which he won’t pay back
He gets paid $243k to run this bank into the ground
Bank Annapolis Annapolis, Maryland was founded in 1990. The company took $8MM in tax payer funded bailout money, which it won’t pay back.
Assets are $426MM with equity of $39MM.
The actual equity is $31MM, the $8MM in tax payer funding is debt, not preferred stock.
The problem loan portfolio is $22MM.
Having $22MM in problem loans, with $31MM in equity, is not a great situation to be in.
Net income was $567k in FY10. At that rate, how long will it take them to pay back $8MM?
The executives might not want to pay back the tax payer, but they have no problem paying themselves.
Richard Lerner made $243k
Edward Schneider made $183k
Robert Kendrick made $198k
That is pretty good pay for taking tax payer money, not paying it back and racking up problem loans.
Richard Lerner, steals $8MM from the tax payer, won’t pay it back and pays himself $243k. This guy has it made, thanks to your tax dollars.
Richard Lerner, should be in jail for taking $8MM from you.
Who is better off than this team? Definitely not the tax payer.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
July 8, 2011
This is Michael Sharp who makes $168k a year left and Alton Lewis right who makes $292k a year
They took $21MM of you tax payer money which they won’t pay back
The must be nice guys giving a check away with money the took from the tax payer
I’ll guaranty you one thing, these two can’t pay back the $20MM they took from the tax payer
First Guaranty Bank Hammond Louisiana was founded in 1934. The company took $21MM in tax payer funded bailout money, that they won’t pay back.
Assets are $1.17B with equity of $95MM.
They have $35MM in problem loans.
The executives won’t pay back the tax payer, but they have no know trouble paying themselves.
Alton Lewis Jr. made $292k
Michael Sharp made $168k
Eric Dusch made $109k
That is good pay for bankrupting this place.
Alton Lewis, the tax payer wants their $21MM back, where is it?
This bank survived the depression but it can’t survive Alton Lewis.
Do you have money in this place?
I wouldn’t be putting my first guaranty with Alton Lewis, he is looking like a criminal.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
July 7, 2011
Harbor Bank of Maryland, Baltimore Maryland was founded in 1982. The company took $6.8MM in tax payer funded bailout money, which it can’t pay back. then again, they haven’t even made an interest payment to the tax payer since 5/10. They are also on the problem bank list for hazardous commercial real estate lending. The stock is delisted.
Assets are $269MM with equity of $24MM.
The actual equity is $17MM, the $6.8MM in tax payer funding is debt, not preferred stock.
The problem loan portfolio is $25MM.
Hold on, they have $25MM in problem loans and $17MM in equity.
This place is beyond bankrupt.
Why aren’t the shut down?
Net income was ($4MM) in FY10 and ($5MM) in FY09.
And how are they going to pay back $6.8MM? That is a good question.
Joseph Haskins is the CEO.
Joseph, the tax payer wants their $6.8MM back, where is it? Check your pockets.
This joker lost $9MM in the last 2 years, how is he going to repay the tax payer?
Do you think he is getting paid?
Do you have money in this disaster?
You might want to jump in the harbor.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | 8 Comments »
July 7, 2011
Madison Bank, Richmond Kentucky was founded in 1997. The company took $3MM in tax payer funded bailout money, which it can’t pay back. They are also on the problem bank list. If there were an insolvent bank list they, would be on it also.
Assets are $150MM, with supposed equity of $13MM
The actual equity is $10MM, the $3MM from the tax payer is debt, not preferred stock.
The problem loan portfolio is $10MM.
Wait, they have $10MM in problem loans and $10MM in equity, one could take a leap and say they are bankrupt.
Net income was $86k in FY10 and ($15k) in FY09.
At this rate, when will the $3MM get paid back, how about never.
Do you have money in this disaster?
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | Leave a Comment »
July 7, 2011
Clover Community Bank, Clover South Carolina was founded in 1987. The company took $3MM in tax payer funded bailout money, which it can’t pay back.
Assets are $131MM with supposed equity of $9MM.
The actual equity is $6MM, the $3MM owed to the tax payer is debt, not so called preferred stock.
The problem loan portfolio is $11MM.
Yikes, they have $11MM in problem loans with $6MM in equity. This thing is bankrupt
Why isn’t this place closed.
Then again, why aren’t they on the problem bank list.
That is one tough list to get on these days, even if you are bankrupt, you don’t qualify.
Gwenn Thompson is the CEO
Net income was ($1.7MM) in FY10 and ($851k) in FY09.
Gwenn, how are you going to pay back the tax payer, based on this stellar financial performance?
Gwenn, you steal money from the tax payer, don’t pay it back, run this place into the ground and they pay you for it. You have it made.
Do you have money in this debacle?
The tax payer has a better chance of finding a four leaf clover, than ever getting paid back.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
July 7, 2011
Peoples Bank, Lynden Washington was founded in 1921. The company took $18MM in tax payer funded bailout money, which they won’t pay back.
Assets were $1.2B with $122MM in equity.
The problem loan portfolio is $40MM.
Net income was $8.6MM in FY10, $3.9MM in FY09 and $6.8MM in FY08.
Charles LeCocq is the CEO.
Charles, with $19MM in net income over the last 3 years, how come you didn’t repay the tax payer?
Charles, did you get paid?
The tax payer is looking for their $19MM Charles.
Is this your bank?
This place is definitely the Peoples Bank, they take money from the people who pay taxes and don’t pay it back.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
July 7, 2011
Bank of Birmingham, Birmingham Michigan, took $3MM in tax payer bailout money, that they haven’t paid back.
Assets are $106MM with equity of $9MM.
Net income was $650k in FY10 and ($1.6MM) in FY09 and ($1.4MM) in FY08.
Based on this dismal performance, how are the going to pay back the tax payers $3MM? It doesn’t look good.
Though the executives won’t pay back the tax payer, they certainly take care of themselves.
Robert Farr made $156k
Lance Krajacic made $137k
Deborah Thompson made $110k
Beware, this includes country club memberships and car allowances.
Robert, where is the $3MM, you owe the tax payer. At least you can pay back the tax payer, they are paying for you to play golf.
When is Robert going to pay back the $3MM? That could be Farr into the future.
Do you have money in this bank?
Your tax dollars are paying for their country club dues.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
July 7, 2011
Check out the new site
capital2risk.com
This is is William Penney CEO
He took $3,000,000 in tax payer money which he won’t pay back
William hasn’t even paid interest since 8/10
The efficiency ratio is 87%, these clowns lose money just opening up the doors
They are sitting on $7,000,000 in junk loans
Do you have money in this disaster?
They are rated a 1 which is the lowest rating
30% of their equity is tax payer money, this place is bankrupt
Do you have money in this shipwreck?
Would you bank with or trust these clowns
This is George Slater Chairman, George where is the $3,000,000?
Have you seen George around town?
George won’t even pay interest on the money money he took from the tax payer
Here is curious George stealing $3,000,000 in tax payer
Do you think this monkey is even paying interest on the money he stole?
Marine Bank & Trust Vero Beach Florida was founded in 1997. The company took $3MM in tax payer funded bailout money, which it can’t pay back. They haven’t even paid interest since 8/10.
This is Brian Fowler, Chief Lending Officer
Brian makes the junk loans, no wonder the hairline is receding
Assets are $149MM, with equity of $11MM.
The actual equity is $8MM, the $3MM they borrowed is debt, not preferred stock.
The problem loan portfolio is $10MM.
Things must be pretty bad in Florida when working for a bankrupt company is one of the best places to work?
With problem loans of $10MM and $8MM in equity, they should at least qualify for the problem bank list.
This place is insolvent.
Maybe they should be shut down.
Net income was ($3MM) in FY10 and $177k in FY09.
Based on this dismal performance, how are they going to pay back the tax payer? Let alone start paying interest .
William Penney is the CEO.
William, the tax payer wants their money back. Are you getting paid?
Do you have money in this bank?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
July 7, 2011
Fidelity Bank Pittsburgh Pennsylvania was founded in 1882. The company took $7MM in tax payer funding, which it hasn’t paid back.
Assets are $696MM with equity of $46MM.
The actual equity is $39MM, the $7MM in funding is ,not so called preferred stock.
The problem loan portfolio is $23MM.
Having $23MM in problem loans and $39MM in equity, should qualify them for the problem bank list. I guess there is stiff competition out there.
Net income was $268k in FY10 and ($1.9MM) in FY09.
Based on this questionable performance, how long will it take them to pay back $7MM?
How come they won’t pay back the tax payer, but they pay dividends to the stockholders?
The executives won’t pay back the tax payer, but they aren’t afraid to pay themselves.
Richard Spencer made $282k
Michael Mooney made $198k
Lisa Griffith made $132k
Don’t worry, this includes country club expenses and car allowances.
The tax payer gets to pay for them to play golf!
Richard, the tax payer wants the $7MM back, where are you hiding it, the 19th hole.
Richard Spencer should be in jail
Do you have money in this bank?
Fidelity is probably not the best name for this place.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
July 7, 2011
Park Bank Madison Wisconsin took $23MM in tax payer funded bailout money, which it has decided to not repay.
Assets are $797MM with equity of $78MM.
The actual equity is $55MM, the $23MM in tax payer funding is debt, not so called preferred stock.
The bank has $48MM in problem loans.
Hold on, they have $48MM in problem loans and $55MM in equity. Why are they not on the problem bank list?
This place is looking technically insolvent.
Net income was $714k in FY10 and $175k in FY09.
This thing is not exactly a cash cow. Based on this performance, how long will it take them to pay back $23MM? How about eternity.
James Hagenbarth is the CEO.
James, how are you going to pay back the $23MM you owe the tax payer, based on this pathetic performance?
James, am I correct in stating that you are getting paid, but the tax payer is not.
Do you park your money in this insolvent institution?
The government is using your tax payer money to prop this place up.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
July 7, 2011
Chambers Bank Danville Arkansas was founded in 1930. The company took $20MM in tax payer funded bailout money, which they won’t pay back.
Assets are $720MM with equity of $85MM.
The actual equity is $65MM. The $20MM they stole from the government is debt, not preferred stock.
The problem loan portfolio is impressive. They have $61MM in problem loans.
Get this, they have $61MM in problem loans with $65MM in equity.
This bank is bankrupt.
They can’t even get a place on the problem bank list with this record.
This abortion should be closed.
Net income was ($18MM) in FY10.
At this rate, how long will it take them to pay back $20MM.
Bill Donnell is the President.
Bill, the tax payer is looking for the $20MM.
It is bad enough you wiped out a 84 year old bank, how about at least stop stealing tax payer money.
Where is the money Bill? It must be stashed in the chambers.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
July 6, 2011
Bloomfield State Bank Bloomfield Indiana was founded in 1873. They took $9.9MM in tax payer funded bail out money, which they can’t pay back. For some reason, they are not on the problem bank list. Believe me, they have problems.
Assets are $421MM with equity of $38MM.
The actual equity is $28MM, the $9.9MM, they stole from the tax payer is debt, not preferred stock.
Get a load of the problem loan portfolio. They have $22MM in problem loans.
Do I have this right, they have $22MM in problem loans and $28MM in equity. I am thinking, they should be on the problem bank list.
Then again, they should be shut down.
Net income was ($3.7MM) in FY10 and ($1.2MM) in FY09.
So tell me, how the hell are they going to pay back $9.9MM to the tax payer?
Mark Barkley is the CEO.
Mark, where is the $9.9MM you took from the tax payer? Check your pockets.
Mark how is your dismal performance, going to pay back the tax payer.
Well, Mark be proud you ran a 144 year bank into the ground. This place survived the Great Depression, but it couldn’t survive you.
Do you have money in this bank?
Do you want your tax payer money, used to prop up this debacle.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
July 6, 2011
Trisummit Bank Kingsport Tennessee was founded in 2007, great timing. I guess this group doesn’t read the paper. They took $7MM in tax payer funding, which they can’t pay back.
Assets are $269MM with $28MM in equity.
Keep in mind, that 25% of the equity is tax payer funded.
Net income was $371k in FY10, ($2.6MM) in FY09 and ($4.3MM) in FY08.
Check these jokers out, they have never made money and the government gives them $7MM.
Based on this stellar performance, when do you think they will be able to pay back the tax payer? How about, when hell freezes over.
These clowns ran this thing into the ground, right out of the gate.
Do you have money in this disaster?
They are you using tax payer funding to prop up this debacle.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
July 6, 2011
This is Jay Forgotson, he took $4.7MM in tax payer money which he hasn’t paid back
Hold on he makes $406k which includes country club a membership and a car allowance
This is Heidi DeWyngaert, she makes $263k which includes a country club membership
Does the $4.7MM she took from the tax payer, fund the country club membership?
Bank of New Canaan, New Canaan Connecticut was founded in 2002. The company took $4.7MM in tax payer funding, which it won’t pay back.
The bank just took $11MM in tax payer funded bailout money, under the newly enacted Small Business Lending Fund. The $4.7MM will be used to pay back the money original money they took, and didn’t pay back.
Hold on, they took $4.7MM, which they won’t pay bank and the government is going to give them another $5MM! Based on the current financial performance, how long will it take them to pay back $10MM. Try 10 years, if they are lucky. This program is a joke.
Assets are $321MM with $26MM in equity.
The equity is actually $21.3MM, as the the $4.7MM in tax payer funding is debt not preferred stock.
They have $7MM in problem loans.
So, they have $7MM in problem loans and $21MM in equity
The problem loans, could potentially erode a significant level of the equity base.
Net income was $1.2MM in FY10 and $1MM in FY09.
Why wasn’t this used to repay the tax payer.
The executives might not want to repay the tax payer, but they aren’t afraid of paying themselves.
Merrill Jay Forgotson made $406k
Ernest Verrico made $171k
Heidi DeWyngaert made $263k
Frederic Reinhardt made $221k
Don’t worry, this includes country club fees and car allowances.
Merrill Jay Forgotson, where is the $4.7MM you took from the tax payer, I guess you forgotson to pay it back?
How do you feel about tax payer funding, being used to pay country club fees?
Merrill, the stockholders must love you, your salary is almost 50% of net income.
So the management team paid themselves $1,061M and the company only made $1.2MM
Do you bank with this place?
It is being propped up with tax payer money, which they won’t pay back.
Do you have money in this bank?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
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July 6, 2011
Gateway Bank & Trust Ringgold Georgia took $6MM in tax payer funded bailout money, which it refuses to pay back. The stock is delisted.
Assets are $271MM with equity of $25MM.
The actual equity is $19MM, the $6MM they took from the tax payer is debt not preferred stock.
This is bob Peck, he stole $6,000,000 of your money
The stock is delisted thanks to this Pecker
Gotta love the cheesy mustache
Check out the website, this A$$hole likes to finance vacant land
Take a look at the mission statement. Their mission “Glorify god ….. and create shareholder value”. Isn’t the stock delisted?
Hey A$$hole, start by removing that pubic hair from under neath you fat nose, the give tax payer back the $6,000,000 you stole
After that you can fucking glofiy god and create shareholder value
Who got the stock de listed? You or god?
The problem loan portfolio is impressive. They have $19MM in problem loans.
Hold on, they have $19MM in problem loans and $19MM in equity, and this disaster is not even on the problem bank list?
This bank is bankrupt.
Why isn’t this abortion closed?
Net income was $1MM in FY10 and ($701k) in FY09.
Based on this performance, how long will it take them to pay back the tax payer $6MM? God only knows.
Robert Peck is the CEO.
Robert, the tax payer wants their $6MM back, I bet you got paid.
Robert it is one thing wiping out the shareholders, but stealing from the tax payer is wrong.
Take a look at the mission statement. Their mission “Glorify god ….. and create shareholder value”. Isn’t the stock delisted?
Check out the Website, the one thing they do have is an impressive array of vacant land.
Is this your bank?
The government is using your tax payer money, to prop up this debacle.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds | 4 Comments »
July 6, 2011
Valley Business Bank Visalia California was founded in 1996. The company took $7.7M in tax payer funded bailout money, which it won’t pay back. The stock is delisted.
Assets are $344MM with equity of $42MM.
The actual equity is $34.3MM, the $7.7M of tax payer money, is debt not preferred stock.
The problem loan portfolio is $21MM.
With $21MM in problem loans and $34.3MM in equity, this place at least deserves a place on the problem bank list.
The problem loan portfolio, could easily destroy the remaining equity.
Net income was $323k in FY10 and ($918k) in FY09.
At this rate, how long will it take them to pay back the tax payer $7.7M. Probably eternity.
Allan Stone is the CEO.
Allan, the tax payer wants their money back, did you get paid?
Allan how are you going to pay back $7.7M, based on this dismal performance?
Allan it one thing wiping out the shareholders however, not paying back the tax payer is criminal.
Allan are you stoned on the medicinal, to think that you are going to pay back $7.7M
Is this your bank?
The government is using your money, to prop up this bankrupted disaster.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, problem bank list
Posted in executive compensation, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
July 6, 2011
Take a look at the new site
capital2risk.com
This is James Mitchell he took $4.5MM of your tax payer money
He also wiped out the stock holders, as the stock is de listed
Puget Sound Bank Bellevue Washington was founded in 2005. The company took $4.5MM in tax payer funded bailout funds, which it won’t repay. The stock is delisted, that didn’t take long.
Assets are $227MM with equity of $27MM.
Net income was $1.3MM in FY10 and $418k in FY09.
James Mitchell is the CEO.
James, why have you not used the net income to repay the tax payer, I am confident you paid yourself.
James, it is one thing wiping out the stock holders and the share price in record time. However, not paying back the bailout money the tax payer gave you is criminal.
Do you have money in this bank?
The equity position is being propped up by the government.
The tax payer bailout funds are debt, not prefered stock.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
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July 6, 2011
First Minnesota Bank Minnetonka Minnesota was founded in 1881. The company took $6MM in tax payer funded bailout money, which it has refused to repay. For some reason, they are not on the problem bank list. I guess not paying back the tax payer $6MM, is not a problem.
Assets are $366MM with $44MM in equity.
Net income was $1.4MM in FY10 and $1.1MM in FY09.
Why weren’t these funds used to repay the tax payer.
The website won’t tell you who the CEO is.
I guess if I took $6MM from the tax payer, I would keep a low profile also.
Is this your bank?
Tags:Non repayment of Gov. bailout funds
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July 6, 2011
Community Bank First Boscobel Wisconsin was founded in 1871. The company took $5.5MM in tax payer funded bailout money, which it won’t return. They haven’t even paid dividends on these funds since 5/10. They are also on the problem bank list.
Assets are $224MM with $19MM in equity.
The problem loan portfolio is $18MM.
Get this, they have $18MM in problem loans with only $19MM in equity.
This place bankrupt. Why aren’t they closed down?
Net income was ($1.7MM) in FY10 and ($7MM) in FY09.
How are they going to pay back the $5.5MM?
They won’t tell you who the CEO is on the website.
We do know one thing, he wiped out a 141 year old bank.
Do you have money in the bankrupt entity?
Community First, paying back the tax payer last.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | Leave a Comment »
July 6, 2011
Take a look at the new site
capital2risk.com
GulfSouth Private Bank Destin Florida was founded in 2005. The company took $7.5MM in tax payer funded bailout money, which it has decided not to pay back. Then again, it has not even paid dividends since 6/10. They are also on the problem bank list, for detrimental commercial real estate lending.
Assets are $197MM with equity is $16MM.
The actual equity is $8.5MM, as the $7.5MM in bailout money is debt not preferred stock.
The problem loan portfolio in relation to the equity position is incredible. They have $28MM in problem loans, with $21MM on non accrual.
Hold on, they have $28MM in problem loans with $7.5MM in equity. This bank is beyond bankrupt.
This bank needs to be shut down immediately.
Net income was ($3.6MM) in FY10 and ($5MM) in FY09.
Based on this financial performance, how are they going to pay back the tax payer $7.5MM. It is never going to happen.
Take a look at the website, they won’t tell you who the CEO is.
Robert Bennett is the CEO.
Robert, where is the $7.5MM you stole from the tax payer. Why can’t you at least pay dividends.
Robert Bennett bankrupted this place in record time.
This is a private bank all right. They keep the name of the CEO private.
Where is the $7.5MM that Robert Bennett took from the take payer, that is private.
Do you have money in this zombie bank?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | Leave a Comment »
July 6, 2011
Check out Rob Jones, he took $7.5MM of tax payer money, which he won’t pay back and is giving away a check for $50K
Rob is what he is doing to the tax payer
the tax payer is Jonesing for their money back
The Little Bank Kinston North Carolina was founded in 1998. The company took $7.5MM in tax payer funded bailout money, which it has neglected to pay back. The stock is delisted.
Assets are $307MM with $32MM in equity.
Net income was $3.2M in FY10 and $1.3MM in FY09.
The company also paid dividends to the shareholders.
Why wasn’t the $4.5MM in earnings used to repay the tax payer?
Why are they paying dividends before the tax payer?
The CEO is Rob Jones.
Rob, where is the $7.5MM you took from the tax payer and have decided to not pay back.
Rob, it is one thing running the stock price and shareholders into the ground.
However, taking tax payer money and not paying it back is a serious problem.
The Little Bank did a good job of taking a big check from the tax payer.
Little is what they repaid to the tax payer, it is actually closer to none.
Is this your bank?
Need that cash to pay Rob Jones, while the politician is throwing stones.
He is not Jonesing to pay back the tax payer.
The name is fitting, Rob. Rob the tax payer.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
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July 5, 2011
Take a look at the new site
capital2risk.com
This is John Key
John stole $20,000,000 payer bailout money which he won’t pay back
Wonder why this guy is going bald? he is sitting on $23,000,000 in junk loans
This heifer is Ann Wells, she stole $20,000,000 in tax payer money which she won’t pay back
Ann is a criminal, she steals tax payer money, this fat slob owes you $20,000,000
Who puts the makeup on this pig?
It looks like Ann is feeding off the trough of the $20,000,000 from tax payer, judging from that gut
Commonwealth Bank & Trust Louisville Kentucky was founded in 1887. The company took $20,000,000 in tax funded bailout money, which it won’t pay back.
Ann Wells used your $20,000,000 in tax payer funded bailout money to buy this hat
Ann is one hot and savvy banker
Assets are $826MM with equity of $64MM.
This fat pig Ann Wells owes the tax payer $20,000,000 F$$$cking dollars,
When is the last time she missed a meal 1969
Call Rand Paul and ask him what this fat slob Ann Wells is doing with the tax payers $20,000,000
Libertarian?
Check out Ann Wells gut, it is bought and paid for with the tax payers $20,000,000 she is HOT!
The actual equity is $44MM, the $20MM in tax payer funding is debt not equity.
The problem loan portfolio is $27MM.
That fat slob on the left is Mark Kennedy Wealth Management!
He has bigger breasts than Ann Wells
Mark is utilizing the tax payers $20,000,000 to drink and play golf?
Mark is not missing any meals
This bank survived the great depression, will it survive this fat cat bankster?
Having $27MM in bad loans with $44MM is not a great situation.
There is Mark Kennedy on the right, looks like he is till drinking on the tax payer tab
Net income was ($6MM) in FY10 and ($6MM) in FY09.
Hire this guy as CEO can’t be any worse
Based on this stellar performance, how long will it take them to pay the tax payer back $20MM? Do the math.
Here they are spending your $20,000,00 at the derby/spring fashion preview looks like a good time on the tax payer dime
At least these vixons look better than Ann wells
The CEO Ann Cowley Wells, has done a great job of running this 124 year old financial institution into the ground.
Hey Ann, the tax payer wants to know where their $20MM is?
This bank survived the great depression but it might not survive Ann
Do you have money in this disaster. I wouldn’t bank with or trust this group.
Tags:insolvent, Non repayment of Gov. bailout funds, real estate
Posted in Insolvent, Non repayment of Gov. bailout funds | 357 Comments »
July 1, 2011
Bank of Naples Naples Florida was founded in 2000. The company took $4MM in tax payer bailout funds, which he has refuses to repay. Then again, they haven’t even made a interest payment since 10/10. The Texas ratio is 80%.
The bank is also on the under capitalized list. They might as be on the insolvent bank list also.
Assets are $183MM with supposed equity of $6MM.
The actual equity is $3MM, as the $4MM in tax payer money is debt not prefered stock.
The problem loan portfolio is $15MM.
With $15MM in problem loans and $4MM in equity, this bank is bankrupt.
Why is this place closed down?
This disaster is beyond insolvent.
Net income was ($25MM) in FY10, ($3MM) in FY09 and ($3MM) in 08.
They lost $2.8MM in Q2 2011.
Based on this stellar performance, how are they going to pay back the tax payer, it’s never going to happen.
It didn’t take this group long to bankrupt this place.
Do you have money in this bankrupt place?
Tags:FDIC Bankrupt, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
July 1, 2011
George Lee took $45MM of your tax payer money, which he won’t pay back
George gets paid $507k a year
George’s bank is on the problem bank list for “hazardous commercial real estate lending”
George stole $45MM of your money which he can’t pay back
Metro United Bank San Diego California was founded in 1991. The company took $45MM in tax payer funded bailout money, which they won’t pay back. They are also on the problem bank list for hazardous commercial real estate lending.
Assets are $1.5B with equity of $158MM.
The actual equity is $113MM, the $45MM injected from the tax payer is debt not equity.
The problem loan portfolio is $32MM, with $28MM on non accrual.
With $32MM in problem loans and $45MM in equity, this place is technically insolvent.
Net income was ($3MM) in FY10 and ($9MM) in FY09.
Based on this stellar performance, how are they going to pay the tax payer back the $45MM? They can’t.
The executives won’t pay back the tax payer, but they are not shy about paying themselves.
George Lee made $507k
David Choi made $363k
David Tai made $382k
These guys pay themselves well for bankrupting the company, taking tax payer money and not paying it back.
George Lee, the tax payer is looking for the $45MM back, where is it?
Do you keep money in this bankrupted bank?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | Leave a Comment »
July 1, 2011
C. Michael is giving the tax payer good head for the $6MM
Randolph Bank & Trust Ashboro North Carolina was founded in 1978. The company took $6MM in tax payer funded bailout money, which it has neglected to repay. For some reason, they are not on the problem bank list. Believe me, this place has problems.
Assets are $282MM with equity of $26MM.
The actual equity is $20MM, as the $6MM in tax payer funding is debt not equity.
The problem loan portfolio is $15MM, with $12MM on non accrual
Having $15MM in bad loans and $20MM in equity, this place is technically insolvent.
This bank is bankrupt.
Why aren’t they on the problem bank list?
Net income was ($774k) in FY10 and ($652k) in FY09.
Based on this dismal performance, how are they going to pay back $6MM. They can’t.
The executives won’t pay back the tax payer but they are not shy at paying themselves.
C. Michael Whitehead made $175k
Katherine Homiller made $119k
Laurence Trapp made $169k
Not bad pay for bankrupting this place.
C. Michael Whitehead, where is the $6MM you stole from the tax payer? Check your pockets.
Do you have money in this debacle?
I would not bank with or trust C. Michael Whitehead
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
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July 1, 2011
Farmers Bank Windsor Virginia was founded in 1919. The company took $8.7MM in tax payer funded bailout money, which they won’t pay back
Assets are $455MM with equity of $34MM.
The actual equity is actually $25MM, as the $8.7MM they took from the government is debt, not preferred stock.
The problem loan portfolio is $13MM.
Having $13MM in bad loans and $25MM in equity, is not a good situation.
Net income was ($3MM) in FY10, $1MM in FY09 and $1MM in FY08.
At this rate, the tax payer is never getting paid back.
Call Richard Holland, he stole $8.7MM in tax payer money, which he won’t pay back. While he bankrupts a 92 year old bank.
Is this your bank?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
July 1, 2011
Check out Thomas Sneider on the right he took $6.7MM of you tax payer money which he won’t pay back
He pays himself $304k to wipe out a 100 year old bank
Pathfinder?
Pathfinder Bank Oswego New York was fonded in 1859. They took $6.7MM in tax payer funded bail out money, which they don’t feel like paying back.
Assets are $408MM with equity of $35MM.
The actual equity is $28MM, the $6.7MM they took is debt not equity.
The problem loan portfolio is $15MM.
Having $15MM in problem loans with $28MM in equity, is not a good situation.
Net income was $2MM in FY10 and $1MM in FY09.
Based on this financial performance, how long will it take them to pay back the tax payer?
Why haven’t they used these funds to repay the tax payer?
They executives don’t care about paying back the tax payer, at least they are paying themselves.
Thomas Sneider made $304k
Edward Mervine made $156k
Ronald Tascamrella made $124k
Thomas Sneider can probably live like a king on $304k in Oswego New York.
This guy has it made, he wipes out a 152 year old bank, takes tax payer money, which he won’t pay back!
Thomas Sneider, how come you get paid and the tax payer doesn’t.
Pathfinder is great name for this place.
They found a path into the tax payers wallet, and they won’t pay it back.
Do you have money in this disaster.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
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July 1, 2011
Mutual Bank Muncie Indiana was founded in1884. The company took $33MM in tax payer funded bailout money, which the won’t pay back.
Assets are $1.4B with a tangible net worth of $126MM.
The actual net worth is $93MM, as the $33MM in tax payer money the took is debt, they can’t pay back, not so called preferred stock.
The problem loan portfolio is $33MM.
How come this disaster is not on the problem bank list?
Net income was $4.7MM in FY10, $1MM in FY09 and ($22MM) in FY08.
Based on the recent financial performance, how are they going to pay back $33MM to the tax payer? The tax payer is never getting paid back by these criminals.
Wow, the executives have screwed over the tax payer for $33MM, but they seem to pay themselves well for running this place into the ground.
David Heeter made $323k
Patrick Botts made $262k
Charles Viater made $348k
Don’t worry, these salaries include country club expenses and car allowances.
This probably pretty good pay for Indiana.
David Heeter, the tax payer pays for you to play golf, steal $33MM from the government which won’t pay it back, you have it made.
Then again you should be in jail.
Take a look at the picture of David Heeter, this guy has never missed a meal, he has 3 chins. His gut is all bought and paid for with your $33MM.
Is this your bank, they get paid well for taking your money and not repaying it!
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
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June 30, 2011
Center Bank Union New Jersey was founded i 1923. The company took $10MM in tax payer funded bailout money, which they won’t repay.
Assets are $1.2B, with a tangible net worth of $103MM
The actual TNW is $93MM, as the $10MM in tax payer funding is debt, not preferred stock.
The problem loan portfolio is $41MM.
Having $41MM in problem loans with $93MM in equity, is not a great situation.
Net income was $6MM in FY10, $3MM in FY in FY09 and $6MM in FY08.
Why weren’t theses funds used to repay the tax payer?
They were able to pay dividends to the shareholders.
The tax payer wasn’t paid back, but the executives sure took care of themselves.
Anthony Weagley made $362k
Francis Patryn made $129k
Stephen Mauger made $132k
A. Richard Abrahanian made $132k
Arthur Wein made $158k
Mark Cordone made $161k
Joun Lukiens made $146k
These are good salaries.
Anthony Weagley, the tax payer wants their money back.
Is this your bank?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
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June 30, 2011
Take a look at the new site
capital2risk.com
This is Daniel Kilmas, he stole $25MM of your tax payer funded bailout money
aniel gets paid $621k a year for stealing your money
Daniel is a criminal, where is the $25MM you took from the tax payer
Lorain National Bank Lorain Ohio was founded 1934. The company took $25MM in tax payer funded bailout money, which it hasn’t returned.
Assets are $1.5B with tangible net worth of $100MM.
The actual equity position is $75MM, as the tax payer funding is debt, not so called preferred stock.
The problem loan portfolio is $48MM, with$38MM in OREO.
Having $48MM in problem loans, with $75MM is not a good situation.
Net income was $4 in FY10, ($3MM) in FY09 and $3MM in FY08.
Based on this financial performance, how long will it take for them to pay back the $25MM to the tax payer? Probably forever.
Maybe the executives didn’t pay the tax payer back, but they certainly paid themselves.
Daniel Klimas made $621k
Gary Ekek made $297k
David Harnett made $275k
Frank Sults made $239k
Kevin Nelson made $198k
That is good pay for Ohio. That is good pay for running this place into the ground and taking tax payer money, without paying it back.
Daniel, where is the $25MM?
Is this your bank?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
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June 30, 2011
This is William Marsh, he took $7.5MM of your tax payer money, which he won’t pay back
This bald clown gets paid $276k to steal your money
Farmers National Bank of Emlenton Elenton Pennsylvania was founded in 1900. The company took $7.5MM in tax payer funded bailout funding, which it has not paid back.
Assets are $481MM with equity of $33MM.
The actual equity is $25.5MM, as the tax payer funding is debt not so called prefered stock.
They have $8MM in non accrual loans.
Net income was $2MM in FY10, $1MM in FY09 and $2MM in FY08.
How come they didn’t use these funds to pay back the tax payer?
How come they paid dividends to the shareholders, when the owe money to the tax payer?
The executives may have chosen not to pay the tax payer back however, they certainly paid themselves.
William Marsh made $276k
Raymond Lawton made $124k
Edward Andrulonis made $115k
That is pretty good pay.
When does the tax payer get paid back?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
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June 28, 2011
United Bank & Trust Frankfort Kentucky was founded in 1880. The company is on the problem bank list. The Texas ratio is 69%. The stock is delisted.
They took $30MM of tax payer funded bailout money, which they won’t pay back.
Assets are $680MM with equity of $57MM.
The problem loan portfolio is $64MM.
This place looks insolvent.
How are they going to pay the tax payer back $30MM. The answer is, they can’t.
Take a look at the website, they don’t post financial statements or tell you who the CEO is.
The executives won’t repay the tax payer, but they certainly take care of themselves.
Lloyd Hilliard made $343k
Ben Brown made $185k
Michael Schomick made $169k
C Douglas Carpenter made $135k
That is good pay for wiping out the stock and the shareholders, not to mention bankrupting a 131 year old financial institution.
Lloyd, the tax payer wants to know where their $30MM is?
Is your money here?
I wouldn’t bank with or trust this place.
Tags:deliquency, executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | Leave a Comment »
June 28, 2011
Take a look at the new site
capital2risk.com
This is Lorie Yarkin, she took $6.4MM of your money. which she won’t pay back
It looks like she is having a good time on the tax payer dime
How about putting Lorie in jail for stealing tax payer money?
Biscayne Bank Coconut Grove Florida was founded in 2006. Great market timing. They took $6.4MM of tax payer funded bailout money, which they won’t pay back.
Assets are $221MM with equity of $15MM
The actual equity is $8.6MM, as the $6.5MM in tax payer funding is debt not prefered stock.
The problem loan portfolio is $8MM.
Having $8MM in problem loans and $6.5MM in debt, would make this place insolvent.
Why aren’t they on the problem bank list?
Net income was ($1MM) in FY10 and ($2MM) in FY09
Based on this financial performance, how are they going to pay back $6.5MM to the tax payer? I have no idea.
The government is just using tax payer money to prop up this mess.
It didn’t take Lorie Yarkin, the CEO, long to bankrupt this place.
Take a look at the website it is a joke. Try to click on the financial condition, nothing comes up. That pretty much sums things up.
Do you have money in charade?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Non repayment of Gov. bailout funds | 9 Comments »
June 28, 2011
Take a look at the new site
capital2risk.com
Thomas Wells took $50,000,000 in tax payer which he can’t pay back
Thomas Wells is sitting on $124,000,000 in junk loans
Thomas Wells is attempting to bankrupt a 110 year old bank
First American Bank Elk Grove Illinois was founded in 1901. The company took $50MM in tax payer funded bailout money, which it won’t repay. For some reason, they aren’t on the problem bank list.
Assets are $2.7B with equity of $276MM.
The actual equity is $226MM, as the $50MM in tax payer funding is debt not equity.
The problem portfolio is immense. They have $192MM in problem loans, with $114MM in non accrual and $45MM in OREO.
With $192MM in problem loans and $226MM in equity, this place is bankrupt.
How come this thing is not shut down?
Then again, why aren’t they on the problem bank list.
The government is just propping this thing up with tax payer funding.
Net income was $1MM in FY10 and $9MM in FY09.
They lost another $8MM in Q3 2011.
Based on this financial performance, how are they going to pay back the $50MM? It is never going to happen.
Take a look at the website, they don’t tell you who the CEO is or post the financial statements.
I guess if I bankrupted a 110 year old financial institution, I would be in hiding also.
Is this your bank?
This place took $50MM of your money that it can’t pay back.
Tags:insolvent, Non repayment of Gov. bailout funds, real estate
Posted in Non repayment of Gov. bailout funds, under capitalized | 20 Comments »
June 28, 2011
This is Gideon Haymaker, he took $5.6MM in government bailout funding
How are they going to pay the tax payer back, it makes one sea sick
Seaside Bank & Trust Orlando Florida was founded in 2006. Great time to start a bank, I guess this team didn’t read the paper. They took $5.6MM in tax payer funded bailout funds, which they won’t repay. They are a member of the problem bank list, for incompetent residential lending.
Assets are $704MM with equity of $77MM.
Net income was ($5MM) in FY10, ($9MM) in FY09 and ($8MM) in FY08.
Not only does this place make bad loans, they are good at losing money.
They forgot to post the financial statements or tell you who the management team is.
Whoever the CEO, is he ran this thing into the ground in record time.
Whoever you are, the tax payer wants the $5.6MM back
Is this your bank? This place will make you sea sick.
Tags:insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Non repayment of Gov. bailout funds, Problem Bank list | 2 Comments »
June 28, 2011
Take a look at the new site
capital2risk.com
Craig Sakin took $47,000,000 of your money which he won’t even a pay interest on
Craig, how about buying one a these vixons a shirt
Millennium Bank Edwards Colorado was founded in 2001. The company took $7MM in tax payer funded bailout money, which it has refused to repay. Then again, they haven’t even paid interest on these funds since 2/10. For some reason, they aren’t not the problem bank list. I guess not paying back tax payer bailout money is not a problem. I am thinking a Texas ratio of 75% is a problem.
Assets are $270MM with equity of $19MM.
The problem loan portfolio is $24MM.
All right, they have $24MM in problem loans and $19MM in equity.
This place is bankrupt.
It is pretty bad if you are bankrupt, and can’t even get on the problem bank list.
Craig Sakin, the CEO ran this place into the ground in record time.
Craig, where is the tax payers $7MM? Check your pocket.
Craig, how about at least paying interest on the money you stole from the tax payer.
Millennium Bank, Craig you might want to change the name, you wiped out this place in less than a decade!
Craig, grab a life jacket, this abortion is going to end up in Lake Powell.
Is this your bank?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
June 27, 2011
The First Hattiesburg Mississippi took $17MM in tax payer funded bailout money, which it has made no effort to repay.
Assets are $539MM with equity of $55MM
The actual equity is $38MM, as the tax payer funding is debt not prefered stock.
Net income was $3MM in FY10, $2MM in FY09 and $2MM in FY08.
At this rate, how long will it take to pay back the tax payer? Hey, imagine if they used the net income to repay the tax payer!
The executives may not pay the tax payer back but they are not afraid to pay themselves.
David Johnson made $212k
M Roy Hoppy Cole made $187k
Dee Dee Lowry made $169k
David Thomas made $103
Carol Daniel made $164k
Hoppy, you pay yourself well, how about paying back the tax payer?
Hoppy, where is the $17MM, check your pocket.
How about sticking M Roy Hoppy Cole in jail.
The First? The first at taking tax payer funding and not paying it back.
Is this your bank?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
June 27, 2011
This is Owen Onsum, he took $17MM in tax payer money which he won’t pay back
He makes $313k to make bad loans
Where is the $17MM?
First Northern Bank Dixon California took $17MM in tax payer money, which it chosen to not pay back.
They have assets of $737MM, with equity of $79MM.
The actual equity is $62MM, as the $17MM took from the tax payer is debt, not so called preferred stock.
Net income was $1.6MM in FY10 and ($1.8MM) in FY09.
Based on this financial performance, how are they going to pay back $17MM to the tax payer? Your guess is as good as mine.
They won’t pay back the tax payer, but the executives have no problem paying themselves.
Owen Onsum made $313k
Louise Walker made $196k
Patrick Day made $235k
Louise Walker pays herself well, why won’t she pay back the tax payer the $17MM?
Is this your bank?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
June 27, 2011
This is Michael Sapp, he took $30,000,000 of tax payer money which he can’t pay back
Michael was able to get his bank on the problem bank list
Michael’s bank is one of the worst capitalized banks in the country, with tier 1 capital of .95% . This place is bankrupt
Michael makes $727,000 a year to bankrupt this place
This guy took $30MM of you tax payer money, which he can’t pay bank
He gets paid $727K to bankrupt this place, this is one of the worst banks in the country, this place is bankrupt
Who is the Sapp Michael or the taxpayer , this fat cat is not hungry, he has 3 chins
This is H Lamar Cox, this pencil neck geek took $30,000,000 of tax payer money and gets paid $640,000 to bankrupt this place
Why is this dope smiling, because he is stealing your money
Lamar Cocks, this guy looks like a child molester
Having a name of Cocks doesn’t help
Tennessee Commerce Bank Franklin Tennessee was founded in 2000. The company took $30MM in tax payer funded bailout money, which it won’t pay back. They have recently entered into a consent order with the regulators, putting them on the problem bank list.
They lost $116MM in Q3 2011 whereby, wiping out the equity from $124MM to $11MM or 1,027% in only 90 days.
The tier 1 capital is .95%, which is considered critically under capitalized.
This is Doug Rogers, this bald headed clown made $947,000, while he took $30,000,000 and ran this bank into the ground
Gotta love that savvy mustache.
Assets are $1.5B with supposed equity of $11MM.
The actual equity is ($19MM), as the $30MM in tax payer money is debt not preferred stock
Martin Zorn makes $663,00 to steal $30,000,000 from the tax payer
Martin should be in jail
The problem loan situation is incredible. They have $140MM in problem loans
Having $94MM in problem loans and ($19MMM) in equity, is a serious problem.
This bank is bankrupt.
Why isn’t this place shut down
Why aren’t they on the problem bank list?
Net income was $1.9MM in FY10 and ($7MM) in FY09.
How are they going to pay back the tax payer $30MM? It is pretty obvious that they can’t.
They might not be paying back the tax payer however, the executives have no problem paying themselves.
Michael Sapp made $727k
Frank Perez made $503k
H Lamar Cox made $640k
Charles Rogers made $947k
Martin Zorn made $663k
That is great pay for running this bank into the ground.
Michael Sapp, you pay yourself $727k for wiping out the bank and the shareholders, taking tax payer money and not paying it back. You have it made.
Hey Michael Sapp, where is the tax payers $30MM you took?
This is the tax payer trying to recover the $30,000,000 from Michael Sapp
This management team pays themselves well for bankrupting this place in record time.
Do you have money in this disaster?
You must be a Sapp.
Tennessee Commerce Bank announced today to investors that it has identified an additional $14.8 million in losses and would set aside more money to guard against bad loans as it undergoes a “forensic review” of its financial history.
The company (Nasdaq:TNCC), which is parent to Franklin-based Tennessee Commerce Bank, has been searching for capital after disclosing that it was “critically undercapitalized” by federal standards. Management previously said the bank’s second quarter 2011 earnings report was unreliable as the company and regulators re-examine its loan portfolio, and the forensic review calls into question other previous results.
“Further write-downs may occur as a result of the ongoing forensic review,” the company said. “At this time, however, the corporation is unable to determine which periods may be further impacted or extent of any such impact.”
The $14.8 million charge-off came in the bank’s “small-ticket specialized equipment portfolio,” the company said. That portfolio is also the subject of the forensic review.
In addition to the loss, the bank has set aside $14.2 million in additional reserves in its small-ticket, real estate and commercial and industrial portfolios. That money guards against potential losses for the bad loans.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | 7 Comments »
June 27, 2011
Woonsong Park stole $6,500,000 in tax payer money
Woonsong bankrupted his investors, the stock is de listed
This is Woonsong Park, he took $6.5MM of you tax payer money which he won’t pay back
He also wiped out the stockholders as the stock is delisted
Where is the $6,500,000 you took with a song?
Why is he smiling, he has $6.5MM of you money
Pacific International Bank Seattle Washington was founded in 2001. The company took $6.5MM in tax payer funded bailout money, which it won’t return. For some reason, they aren’t on the problem bank list. The Texas ratio is 48%, which should qualify them. The stock is delisted, another good sign.
Assets are $284MM with supposed equity of $32MM
The actual equity is $25.5MM, as the tax payer funding is debt not preferred stock.
The problem loan portfolio is $31MM, with $19MM on non accrual
With, $31MM in non accrual and $25.5MM in equity, this bank is technically insolvent.
Perhaps, this thing should be closed down.
This place should at least be on the problem bank list.
They have not posted the financial statements on the website since 2009, not good.
At, this rate how long will it take them to pay back the tax payer $6.5MM? Don’t hold your breath.
The CEO Woosung Park, bankrupted this place in record time. I wouldn’t Park my money is this disaster, it will be Woonsung.
It won’t be long before this place slides into the Pacific.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
June 27, 2011
J. Chester Porter took $35,000,000 in tax payer money which he won’t pay back
J Chester makes $512,000 a year
Porter Bank Louisville Kentucky has taken $35MM in tax payer funded bailout money, which it has decided it won’t repay.
Assets are $1.3B with equity of $135MM.
They won’t pay back the tax payer, but they can sure pay themselves.
That is J Chester Porter one the right he took $35,000,000 of your money
J. Chester Porter made $512k
Maria Bouvette is the CEO, this wench took $35,000,000 in tax payer money which she won’t pay back
You would think for $495, 000 a year she could get a decent haircut
Maria Bovuette made $495k
David Pierce made $417k
C Bradford Harris made $179k
J. Chester, you pay yourself well, but you won’t pay back the tax payer.
J. Chester, where is the $35MM you stole from the tax payer?
Do you have money in this place? Call J Chester and ask him for the $35MM he took.
J. Chester should be in locked up.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
June 27, 2011
This is Brad Krenbriel he took $26MM of your tax payer money, which he won’t pay back
Brad hasn’t even paid interest on this money since 11/10
He got this place on the problem bank list
Brad gets paid $376k a year to destroy a 76 year old financial instituion
That is good pay for losing $52MM dollars in the last 3 years
Home Federal Savings Bank, Rochester Minnesota was founded in 1934. The company took $26MM in tax payer funded bailout money, which it has decided to not repay. Then again, they have chosen to not even make interest payments since 11/10. They are also on the problem bank list. The Texas ratio is 70%.
Assets are $880MM, with supposed equity of $69MM.
The actual equity is $43MM, as the tax payer funds are deb,t not what they are classifying as preferred stock.
The problem loan portfolio compared to the equity situation is impressive. They have $31MM in problem loans on non accrual and $21MM in OREO.
With, $52MM in problem loans and $43MM in equity, this bank is bankrupt.
This place should be closed down.
Take a look at the financial performance.
Net income was ($30MM) in FY10, ($12MM) in FY09 and ($10MM) .
Take a look at the website, they haven’t posted the 2010 financial statement, they are tied up laundering tax payer money.
The executives won’t pay back the tax payers, but they have no problem paying themselves for bankrupting this company.
Bradley Krenbriel made $376k
Jon Eberle made $231k
Lawrence McGrawl made $153k
Dwain Jorgenson made $133k
Susan Miller made $154k
That is good pay destroying this 77 year old financial institution.
So Bradley, you wiped out 62% of the equity, stole $26MM from the tax payer, won’t pay it back and don’t even pay interest. You are the man.
You pay yourself $376k, to blow through $52MM in 3 years. You are one savvy banker.
Bradley, were is the $26MM you stole from the tax payer, in your pocket?
Is this your bank?
Bradley Krenbriel is a criminal, he should be incarcerated.
Are you going to give your money to this gangster?
Brad is bad, he is a thief.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Problem Bank list, under capitalized | 1 Comment »
June 27, 2011
James Miller stole $23,000,000 of take payer money which he won’t pay back
James makes $367,000 to steal you money
The average median household income in Sandusky is $31,000, James makes 12 times that in one year, plus free a country club membership paid for by your taxes
James also has his country club membership paid for by the tax payer
James Miller is trying to destroy a 100 year old bank
If you see James around town ask him where the $23,000,000 is
James Miller made $367k
Todd Michael made $134k
Richard Dutton made $194
James McGookey made $200
Charles Rieserer made $249k
Don’t worry, this includes country club memberships.
This is good pay for taking tax payer money and not paying it back.
This guy might be raping young boys
James Miller is raping the tax payer, which is worse
They are both criminals
They should hire this guy, he is good with kids
First Citizens Bank Sandusky Ohio was founded in 1884. The company took $23MM in tax payer funded bailout funds, that they won’t repay.
Dottie Sandusky, if your wife looked like this, child molestation is not a bad alternative!
Assets are $1.1B with supposed equity of $96MM.
The actual equity is $73MM, as they the money they took from the tax payer is debt, not preferred stock.
They have $43MM in problem loans.
Net income was ($2MM) in FY10 and $700k in FY09.
At this rate, how long will it take them to pay back the tax payer $23MM? It is looking like eternity.
Fortunately, the executives were able to pay themselves despite ripping off the tax payers.
James Miller made $367k
Todd Michael made $134k
Richard Dutton made $194
James McGookey made $200
Charles Rieserer made $249k
Don’t worry, this includes country club memberships.
This is good pay for taking tax payer money and not paying it back.
James Miller, the tax payer wants their $23MM back
Do you have money in this place.
Taking $23MM from the tax payer is probably not putting the citizens first.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | 4 Comments »
June 26, 2011
Connecticut Bank and Trust Hartford Connecticut was founded in 2004. The company took $5MM in tax payer bailout funds, which they won’t pay back. For some reason, they are not on the problem bank list. I guess not paying back the tax payer, is not considered a problem for the government. Funny, they pay dividends to the stock holders. The stock is delisted, that didn’t take long.
Assets are $273MM with supposed equity of $25MM.
The actual equity is $20MM, as the $5MM they took from the tax payer is debt not preferred stock.
The problem loan portfolio is $22M, with $17MM on non accrual.
Let me get this straight, they have $22MM in problem loans with $20MM in equity.
This place is insolvent.
Why aren’t they at least on the problem bank list?
Being insolvent and not paying back the tax payer is not a problem?
Net income was $560k in FY10 and $357K in FY09.
Based on this stellar performance, how long will it take to pay the tax payer back $5MM. How about eternity.
The executives might not want to repay the tax payer, but they have no problem paying themselves.
David Lentini “earned” $272k
Anson Hall made $175k
Lyle Fulton made $141k
That is good pay, for bankrupting this place in record time.
So David Lentini runs this place into the ground, wipes out the stockholders, takes tax payers money and doesn’t pay it back. This guy has it made.
David where is the $5MM you owe the tax payer, maybe in your pocket.
Do have money here? I won’t bank with or trust with these clowns.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
June 26, 2011
This is Blanche Hill she took $15,000,000 of tax payer money which she won’t pay back
This sow runs one of the worst banks in the state
This Donald O’Day he took $15,000,000 of your money which he won’t pay back
David is sitting on $67,000,000 in bad loans
Donald O’Day owes the tax payer $15MM
This place is on the problem bank list
They have $67MM in problem loans
Would you bank or trust Donald?
Suburban Bank & Trust, Elmhurst Illinois was founded in 1971. The company took $15MM in tax payer funded bailout funds, which they won’t pay back. For some reason, they are not on the problem bank list. I guess taking tax payer funds and not repaying them, is not a problem for the government. With a Texas ratio of 100%, that alone should secure them a place on this coveted list.
Assets are $607MM with supposed equity of $43MM.
The actual equity is $34MM, as the tax payer funds are debt not equity as they are calling it.
The problem loan portfolio in relation to the equity base is staggering. They have $67MM in problem loans, with $54MM on non accrual and $8MM in OREO. There are $23MM in construction loans on non accrual, that is scary. That alone will wipe this place out.
With $67MM in problem loans and $43MM in equity, this disaster is beyond bankrupt.
Kind of looks like Blanche Hill
Why isn’t this place shut down?
Take a look at the calamitous financial performance. Net income was ($14MM) in FY10 and ($27MM) in FY09. They lost another $1MM in Q1 2011.
Take a look, they lost another $7MM in Q2 2011.
Based on these stellar results, how are they going to pay back the tax payer $15MM? You can kiss that money goodbye.
Take a look at the website, they won’t post the financial statements or tell you who the management team is.
Blanche Hill wiped this place out in record time. She is one savvy banker. She took over in 2002 and bankrupted this bank in a hurry .
Blanche, the tax payer wants to know where is the $15MM you stole?
Do you have money in this place. I would not bank with or trust Blanche Hill and her corrupt management team
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Uncategorized | 1 Comment »
June 26, 2011
Take a look at the new site
capital2risk.com
The efficiency ratio is 97% this dope loses money just opening up this bankrupt disaster
F$$CKING R lost $8,625,000 in Q4 2011 alone
F&$CKING R is sitting on $50,000,000 in shit loans
F.R. took your money he makes $635k a year, would you trust this guy?
The Texas ratio is like 83% FR you are bankrupt
They are rated a 1 which is the worst you can get
He took $17MM of tax payer money and gets paid $635k, which includes a country club membership
First Reliance Bank Florence South Carolina was founded in 1999. The company took $17MM in tax payer funded bailout money, which it has decided not to repay. For some reason, they aren’t on the problem bank list. I guess not paying back the tax payer money they took, is not a problem for the regulators.
This is Jeffery Paulucci,
This criminal stole $17,000,000 from the tax payer
Jeffery gets paid $318,000 to steal your money
Jefferey the tax payer wants the $17,000,000 back that you took
This thief has pretty good tan
Your taxes are paying for country club dues
Assets are $574MM and the supposed equity is $53MM.
The actual equity is $36MM, as the $17MM they took from the tax payer is debt, not preferred stock as they are calling it.
The problem loan portfolio in relation to the equity base is impressive. They have $27MM in problem loans, with $23MM on non accrual and anther $17MM in OREO.
Get this, they have $27MM in bad loans and $36MM in equity, they are bankrupt.
How can a company that is effectively bankrupt, not even receive a much deserved spot on the problem bank list? Come on, the Texas ratio is 72%, let them on the list, so they can brag to their friends at the country club.
Net income was ($1MM) in FY10 and ($2MM) in FY09.
They lost $7MM in Q3 2011 alone, this place will be bankrupt soon
Based on this financial performance, how long will it take them to repay the tax payer $17MM? They can’t.
This is Craig Evans he owes you $17,000,000
Craig gets paid $291,000 to screw the tax payer, he also gets free a country club membership
Craig should be in jail
Maybe they can’t repay the tax payer, but they can sure as hell pay themselves.
F. R Saunders made $635k
Jeffrey Paulucci made $318k
Craig Evans made $291k
Don’t worry, this includes country club fees. The tax payer is paying for them to play golf. It might be safer for the tax payer to have them out golfing, at least when they are golfing, they aren’t making bad loans.
This team pays themselves well to, bankrupt the company, wipe out the shareholder, take money from the tax payer and not pay it back.
F. R. where is the tax payers $17MM, check your pockets.
F.R. where the f$$$ is the the $17MM you took
F.R. you bankrupted this place in record time.
The market capitalization is $8MM or 15% of book, this place is worth more dead than alive.
Do you have money here? I wouldn’t put much reliance on this disaster.
What does F. R. stand for? First Reliance?
Are you going to rely on F.R. Saunders to wipe out the rest of your money?
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | 2 Comments »
June 25, 2011
http://www.capital2risk.com/?s=exchange+bank
Exchange Bank, Santa Rosa California was founded in 1890. The company took $43MM in tax payer funded bailout ,which it has decided to not pay back. For some reason, they are not on the problem bank list. Looking at the balance sheet, this place has problems. The stock is delisted for a reason.
Assets are $1.5B, with equity of $160MM.
The actual equity is $117MM, as the $43MM in tax payer fund is debt, which they won’t pay back, not preferred stock.
The problem loan portfolio is impressive. There are $73MM in problem loans, with $68MM on non accrual and $15MM in OREO. They have $28MM in construction loans on non accrual, ouch.
With $73MM in problem loans and $117MM in equity, this place has serious balance sheet pressure.
This place is close to being insolvent.
With a balance sheet as challenged as this, they at least deserve a place on the problem bank list.
Net income was $10MM in FY10 ($3MM) in FY09 and ($18MM) in FY08.
At this rate,how are they going to pay back $43MM to the tax payer.
The government is using your money to prop up this bank.
Hey Bill Shrader, where is the tax payer’s $43MM you took?
Do have money here? You might want to exchange it with another bank.
Tags:executives paid despite non payment of bailout fund, FDIC Bankrupt, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
June 25, 2011
Jon Kurtz took $6.5MM of your money, won’t repay it
This place is bankrupt
Alarion Bank Ocala Florida was founded in 2008. The company took $6.5MM in tax payer funded bailout money, which it has refused to repay. For some reason, they are not on the problem bank list.
Assets are $316MM with $25MM in equity.
The actual equity position is $18.5MM, as the tax payer funding is debt not equity.
They have $16MM in problem loans, with $18MM in equity.
This place is looking bankrupt.
How are they going to pay back the $6.5MM? They probably can’t.
Do you have money in this disaster?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Insolvent, under capitalized | Leave a Comment »
June 25, 2011
Country Bank was founded in 2000. The company took $4MM in tax payer funded money, which it has neglected to repay. They have not even paid interest on these funds since, 8/10. For some reason, they are not on the problem bank list. I guess a Texas ratio of 97%, doesn’t cut it these days. They should be on the insolvent bank list.
Assets are $211M with equity of $19MM.
The actual equity is $15MM, as the $4MM in tax payer funds is debt, not preferred stock.
The problem loan portfolio in relation to equity position is impressive. They $38MM in problem loans, with $16MM on non accrual.
With $38MM in problem loans and $15MM in equity, this bank is bankrupt.
How are they going to pay the tax payer back $4MM? They can’t even pay the interest.
This bank should be shut down.
How can this place not even make the problem loan list, they are certainly qualified.
The management team, wiped this place in record time.
Todd Frye is the CEO.
Hey Todd, where is the $4MM you stole from the tax payer? Are you getting paid? How about at least pay interest on the money you took.
Todd Frye has it made, he gets paid to take tax payer money without paying it back, let alone paying interest, while racking up $38MM in bad loans! This guy is one savvy banker.
How are they going to pay back the tax payer.
How about if these criminals at least pay interest on the tax payer money.
Do you have money in this scam?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
June 24, 2011
This is Edward McKeon he took $4.7MM of your tax payer, to prop up his insolvent bank, which he can’t pay back
He gets paid $192k a year to make $19MM in bad loans
No wonder he has hair
Western Reserve Bank Medina Ohio was founded in 1998. The company took $4.7MM, which they have refused to pay back. For some reason, they are not on the problem bank list.
Assets are $186MM with $17MM in equity.
The actual equity is $12MM, the $4.7MM tax payer money is debt, not so called preferred stock.
The problem loan portfolio is $9MM, with $MM in OREO.
With $19MM in problem loans, and $12MM in equity, this bank is bankrupt.
Why isn’t this place closed down?
Why aren’t they on the problem bank list?
Net income was ($2MM) in FY10 and $232k in FY09.
Based on this financial performance, how are they going to pay back $4.7MM? Your guess is as good as mine.
At least the executives pay themselves despite not paying the tax payer.
Edward McKeon made $192k
Brian Harr made $129k
Cynthia Mahl made $126k
That is good pay for wiping out this bank, stealing tax payer money and not paying it back.
Edward McKeon, where is the $4.7MM, in your pocket.
The government is using tax payer money to prop up this bankrupt disaster.
Do you have money in this bank?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in Insolvent, Non repayment of Gov. bailout funds, under capitalized | 2 Comments »
June 24, 2011
Carolina Trust Bank Lincolton North Carolina was founded in 2000. They company took $4MM in tax payer funded bailout money, which they won’t pay back. For some reason, they are not on the problem bank list. The stock is delisted.
Assets are $276MM with equity of $27MM.
They have $12MM in problem loans, with $9MM in non accrual and $4MM in OREO.
Net income was $221K in FY10 and ($2MM) in FY09.
At least the executives paid themselves well, despite not repaying the taxpayers.
John Cline made $334k
Donald Boyer made $140
Richard Rajer made $134k
That is pretty good pay for running this place into the ground, taking tax payer money and not paying it back.
John Cline should be in jail, this criminal took $4MM in tax payer money didn’t pay it back, then again he got paid $334k.
This crew bankrupted this place in record time.
Do have money in this place? I wouldn’t trust this bank.
Tags:insolvent, Non repayment of Gov. bailout funds, real estate
Posted in Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
June 24, 2011
Highlands Independent Bank Sebring Florida was founded in 1988. The company took $9.5MM in tax payer funded bailout money, which it has decided to not pay back. For some reason, they are not on the problem bank list. Take it from me, this place has problems.
They have assets of $286MM with $20MM in supposed equity.
The actual equity is $10.5MM, as the $9.5MM in tax payer funding is debt not preferred stock.
This place is just being propped up by the government, with tax payer money.
They have $14MM in problem loans, with $9MM in non accrual and $9MM in OREO.
With $14MM in problem loans and $9.5MM equity, this place is insolvent.
Why isn’t this bank shut down?
They at least deserve a place on the problem bank list.
With net income of ($3MM) in FY10 and ($6MM) in FY09, how are they going to pay the tax payer back the $9MM.
Do you have money in this place?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in Insolvent, Non repayment of Gov. bailout funds, Uncategorized, under capitalized | Leave a Comment »
June 24, 2011
This is Mark Hoppe he stole $104,000,000 of tax payer money
Mark makes $835,000 a year but he won’t pay the tax payer back
Mark you are sitting on $130,000,000 in junk loans how the F$$ck are you going to pay back the $104,000,000 you owe the tax payer? You can‘t
This criminal should be in jail
Is John Dillinger any worse than Mark Hoppe?
Here is Jeffrey Taylor and Bruce Taylor these criminals stole $104,000,000 in your tax payer money which they won’t pay back
Cole Taylor Bank Chicago Illinois, took $104MM in tax payer funded bail out money, which they haven’t repaid. For some reason, they are not on the problem bank list. Take my word for it, this place has serious problems.
Assets are $4.8B with equity of $208MM.
The actual equity is $104MM, the $104MM they owe the tax payer is debt not so called preferred stock
The problem loan portfolio is incredible. They have $244MM in problem loans, with $206MM on non accrual and $31MM in OREO.
Hold on, they have $244MM in problem loans with $104MM in equity?
This bank is bankrupt.
Why aren’t the closed down? Probably because they owe the tax payer a $104MM.
With a balance sheet like this, they deserve a place on the problem bank list.
Take a look at the losses, unbelievable. Net income was ($79MM) in FY10, ($43MM) in FY09 and ($143MM) in FY08.
At least the executives get paid, even if the tax pay never will.
Bruce Taylor made $587k
Mark Hoppe made $835k
Lawrence Ryan made $519k
That is great pay for bankrupting this company, stealing tax payer money and not paying it back.
Mark Hoppe, where is the $104MM you owe the tax payer, we know $835k is in your pocket.
Mark Hoppe gets paid $835k to lose $265MM in 3 years. This guy has it made.
Is this your bank?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
June 23, 2011
This is Don Hirtel, the CEO who took $7.4MM of your which he won’t pay back
Don hasn’t even paid interest on this money since 11/09
Thanks to Don the stock is de listed
Don made $17MM in bad loans and is on the problem bank list for unsafe and unsound lending
Don runs one of the worst banks in the state
Don wiped out 600% of the equity in only 3 years
First Sound Bank Seattle Washington was founded in 2004, great timing. This place has it all. They took $7.4MM in tax payer funded bailout money, which they have decided to not pay back. They haven’t even paid interest since 11/09. They are on the problem bank list for unsafe and unsound banking practices regarding capital, asset quality and earnings. The stock is delisted. The Texas ratio is 212%.
They are also on the list of under capitalized banks. If there were a list of insolvent banks, they would head that up also.
Assets are $145MM with equity of $6MM.
The actual equity is ($1.4MM), as the $7.4MM in tax payer funding is debt, not what the want to call preferred stock.
The problem loan portfolio in relation to the equity base is staggering. Then again, what equity base, it’s negative. There are $17MM in problem loans. Get this, they have $7.5MM in non accrual construction loans. That is about what they owe the tax payer.
This bank is beyond bankrupt.
Why aren’t they closed down?
Net income was ($6MM) in FY10, ($16MM) in FY09 and ($2MM) in FY08. Holy cow, they lost another $2MM in Q1.
Based on this financial performance, how are they going to pay back the $7.4MM to the tax payer. It’s not going to happen.
The bank raised $6MM in capital in April, except the lost another $2MM in Q1, savvy! Who in their right mind would invest in this disaster?
Don Hirtzel has done a remarkable job running this place into the ground. He wiped out 600% of equity, in only 3 years.
Don where is the $7.4MM, you owe the tax payer?
Do you have money here. This bank is definitely not sound.
It won’t be long before this thing is floating in the Puget Sound.
Tags:executives paid despite non payment of bailout fund, FDIC Bankrupt, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | Leave a Comment »
June 23, 2011
Take a look at the new site
capital2risk.com
This is Bill Grant, the CEO he took $30,000,000 of your money which he can’t
Bill hasn’t even paid interest on this money since 8/10
Bill gets paid $262k to rack up $108,000,000 in bad loans
Bill lost $22,000,000 in the last 2 years wiping out a 111 year old bank
Would you bank or trust with Bill Grant, this guy is legal
This clown is vice chairman of the ABA, talk about he stole $30,000,000 in tax payer money which he won’t even pay interest on.
The mustache alone makes this guy look guilty
The mustache makes him look like he knows what he doing
First United Bank & Trust Oakland Maryland was founded in 1900. They took $30MM in tax payer funded bailout money, which they won’t pay back. They haven’t even paid interest on these funds, since 8/10. So the customer has to pay interest, but the bank doesn’t have to pay interest to the tax payer?
Assets are $1.6B with supposed equity of $138MM.
The actual equity is $108MM, as the $30MM they are calling preferred stock is debt, not equity.
They have $81MM in problem loans, with another $18MM in OREO.
With $81MM in problem loans and $108MM in equity, this place is technically insolvent.
Why aren’t they on the problem bank list? Those regulators have this banking debacle figured out?
Net income was ($11) in FY10 and ($12MM) in FY09.
Based on the recent financial performance, how are they going to pay the tax payer back $30MM? It is not looking good.
Check this out, the executives get paid, but they don’t even pay interest on the money the stole from the tax payer.
William Grant made $262k
Carissa Rodzheaver made $188k
Steven Lantz made $176k
Wow, that is good pay for bankrupting a 111 year old financial institution.
They pay themselves well for wiping this place out, stealing tax payer money and not even paying interest.
These guys have it made.
William Grant, where is the $30MM you stole?
William Grant, you lost $23MM in the last 2 years and you owe the tax payer $30MM plus interest.
This bank survived the great depression but can it survive William Grant?
William Grant, you owe the tax payer about $1.5MM in back interest on the money you stole, how about paying that back to start.
This zombie bank is being propped up with tax payer funds, which they can never pay back.
Do you have money in this abortion?
I would not bank with or trust with these criminals.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
June 23, 2011
Plumas Bank Quincy California was founded in 1980. They took $12MM in tax payer funded bailout money, which they have neglected to pay back. They haven’t even made an interest payment since 2/10. They are also on the problem bank list.
Assets are $468MM with equity of $47MM.
The actual equity position is $35MM, as the $12MM they borrowed is debt, not prefered stock.
The problem loan portfolio is $34MM, with $24MM on non accrual. They also have $9MM in OREO.
With $34MM in problem loans and $47MM in equity, this place is insolvent.
Net income was $287k in FY10 and ($10MM) in FY09.
At this rate how long will it take them to pay back $12MM?
The tax payer may never get paid back, but the executives get paid.
Andrew Ryback made $171k
Robert Harr made $148k
BJ North made $147k
Where is that $12MM that you took? How about at least paying the interest.
Do you have money in this disaster?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | Leave a Comment »
June 22, 2011
Wilshire Bank Los Angeles California was founded in 1980. The company took $62MM in tax payer funded bailout money, which it chosen to not repay.
Assets are $2.9B with $246MM in equity.
The actual equity is $184MM, as the $62MM in tax payer funding is a loan, not an equity injection. Once again, the government is using tax payer money to prop this place up.
The problem loan portfolio in relation to the equity position is impressive. They have $206MM in problem loans, with $158MM on non accrual.
With $206MM in problem loans and $184MM in equity, this bank is bankrupt.
Why aren’t they shut down?
At least , they should be invited to be on the problem bank list. They certainly are qualified.
Net income was ($38MM) in FY10 and $16MM in FY09. Hold on, they lost another $50MM in Q1 2011. Do you think this place is imploding?
Based on this financial performance, how do you think they are going to pay back the $62MM to the tax payer?
They have a solution, they just announced a $100MM stock offering. Can’t wait to invest in this disaster.
The executives make no effort to pay back the tax payer, at least they pay themselves.
Alex Ho made $262k
Joanna Kim made $313k
Sung Soo Han made $217k
These cats pay themselves well, for bankrupting this place.
The tax payer is wondering were the $60MM is, check your pockets.
Do have money in this piece of work?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
June 22, 2011
This is Lynn Fuller he took $81,000,000 payer money
Lynn won’t this money back
Lynn takes $604,000 a year
This is Lynn Fuller the CEO, he took $81MM on your tax payer money which he won’t repay
He makes $604k a year, not bad for Iowa
The bank made $2MM last year, how long will it take them to pay back $80MM
Lynn will be 6 feet under by the time tax payer gets paid back
This cat has a corporate jet?
Lynn where is the $80MM, check your pockets.
This is Jon Schimdt the CFO he took $81,000,000 of your money
Jon makes $454,000 and he owes you $81,000,000
Jon is a criminal!
Heartland Financial Dubuque Iowa took $81MM in tax payer funded bailout money, which it has decided to not repay.
Assets were $3.9B with equity of $329MM.
Net Income was $2MM in FY10 and $4MM in FY09.
Based on this financial performance, how long will it take them to pay back $80MM in tax payer money, how about eternity.
At least the executives weren’t impacted.
This is Douglas Horstmann he makes $352,000 a year
Lynn Fuller made $604k
John Scmidt made $454k
Douglas Hurstman made $352k
Kenneth Erickson made $348k
Melvin Miller made $257k
This team makes good money, and they get to steal tax payer money and not pay it back.
Lynn, you are a criminal, stole $81MM from the tax payer, you make not effort to pay it back and you get paid $604k.
Lynn Fuller should be in jail
It looks like they have no ability to pay it back.
Do you have money in this back.
Take your money out of this bank, Lynn Fuller is a crock
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
June 22, 2011
This guy can’t be worse than the current CEO
Vernon Bank Vernon Alabama was founded in 1911. The company took $6MM in tax payer funded bailout money, that they have decided to not pay back. Then again, they decided to stop paying interest on these funds on 10/10. That is not a bad deal, free money with no interest. Do you think they waive the interest on their customers loans? The Texas ratio is 68%.
Assets are $230MM with $19MM in equity.
The actual equity position is $13MM, as the the $6MM they took from the tax payer, is debt not preferred stock, as they are calling it.
They have $13MM in problem loans with $11MM on non accrual.
With $13MM in equity, and $13MM in problem loans, they are bankrupt.
Why is this bank not shut down?
Why aren’t they at least on the problem bank list? Maybe it’s me, but I think they have some problems.
Check out the website, they forget to tell you who the management team is.
Take a look at the “financial facts”, there is no income statement posted.
I’ll give you some financial facts, this place is bankrupt!
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
June 22, 2011
Eloise where is the $7MM you took?
Check out the new site
capital2risk.com
The efficiency ratio is 104%, these idiots lose money just opening up the doors
The ROE is (20%)
They have lost about $20,000,000 in the last 3 years wiping out half the equity
When the NI is 30% lower than the overhead, maybe it is time to close this disaster down
Eloise Mackus, the CEO who owes you $7MM
She makes $190k and lost $17MM in the last 2 years
She is one hot looking banker
CF Bank Fairlawn Ohio was founded in 1892. The company took $7MM in tax payer funded bailout money, which it has decided to not pay back.
Assets are $272MM with equity of $16MM.
The actual equity is $9MM, as the $7MM in bailout funds is debt, not preferred stock. The government is just trying to prop up this bankrupt institution.
The problem loan portfolio is $5MM, with $3MM in OREO.
This place is insolvent.
Why are they not shut down?
Then again, why aren’t they on the problem bank list?
Net income was ($7MM) in FY10, ($10MM) in FY09.
How are they going to pay back the tax payer at this rate?
At least the executives are getting paid.
Eloise Mackus made $190k
Theresa Liutkus made $184k
Corey Laster made $284k
Mark Aillo made $128k
That is good pay for wiping out a 149 year old financial institution.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
June 22, 2011
Rick Green makes $543,000 a year
Rick Green stole $70,000,000 in your tax payer money which he won’t pay back
Stillwater National Bank Stillwater Oklahoma was founded 1894. The company took $70MM in tax payer funded bailout money, which it has decided not to repay.
Assets are $2.8B with equity of $365MM
The actual equity is $295MM as the $70MM is debt not equity.
The problem loan portfolio is impressive. They have $107MM in problem loans, with $54MM of construction loans on non accrual.
This portfolio, could put a significant strain on the equity position.
Net income was $12MM in FY10, $8MM in FY09 and $14MM in FY08..
Why haven’t they used these funds to pay back the tax payer?
Maybe the tax payer won’t get paid back, but executives have taken care of themselves.
Rick Green made $543k
Kerby Cromwell made $271k
Jerry Vanier made $323k
Kimberly Sinclair made $285k
Charles Westerheide made $281k
That is good pay.
How are you going to pay back the $70MM to the tax payer?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
June 22, 2011
This is Jim Rohers, he took $37MM of your money which he won’t pay back
Don’t worry, Jim makes $230k which includes a country club membership and a car allowance
Jim’s attempting to bank a 91 year old bank
How about getting defiant and taking your money away from Jim
First Federal Bank Defiance Ohio was founded in 1920. The company took $37MM in tax payer funded bailout money, which it has decided to not pay back.
Assets are $2B with equity of $176MM.
The actual equity position is $139MM, as the tax payer is funding 21% of the equity base.
Net income was $6MM in FY10, $5MM in FY09 and $7MM in FY08.
Why didn’t they use these funds to repay the tax payer?
At least, the executives pay themselves before the tax payer.
William Small made $347k
Donald Hilman made $187k
James Rohers made $230k
Gregory Allen made $195k
Dennis Ross made $162k
This includes car expenses and country club memberships.
Not bad pay for western Ohio.
They can certainly pay themselves but they are in defiance of paying the tax payer.
Small Willy pays himself $347k, but when it comes to paying back the tax payer $37MM, he becomes defiant
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
June 22, 2011
Here is CG Kum he took $25MM in you tax payer money which he won’t repay
He gets paid $535k which includes a country membership and car expenses, that pay package will make you Kum
That is good pay for making $143MM in bad loans
The bank made $1.4MM last year, how long will it take them to pay back the $25MM to the tax payer?
First California Financial Los Angeles California was founded in 1979. The company took $25MM in tax payer funded bailout money, which it has decided to notrepay.
Assets are $1.8B with equity of $235MM.
The actual assets are $210MM, as the $25MM in tax payer funding is deb, not preferred stock.
The problem loan portfolio in relation the equity position is impressive. They have $143MM in problem loans with $119MM in non accrual.
With $143MM in problem loans and $210MM in equity, this place could quickly become insolvent.
Wow, with these pathetic numbers, they can’t even get on the problem bank list.
Net income was $1.4MM in FY10 and ($4.6MM) in FY09. How long will it take them to pay back $25MM? Do the math.
The executives were able to pay themselves, even though they decided to not pay back the tax payer.
C G Kum made $535k
Romalo Santorosa made $301k
Donald Macauley made $240k
These numbers include car expenses and country club memberships.
So, the tax payer is paying for these guys to play golf.
That is good pay for making bad loans, taking tax payer money and not paying it back.
Is this your bank?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
June 22, 2011
This is R. Arthur Seaver he took $15MM in you tax payer money, which he can’t pay back
He makes $637k a year including a country membership and a car allowance, paid for by the tax payer
He lost $447k for the bank last year, how long will it take him to repay $15MM
This guy gets paid $637k a year to wipe out this place in record time
Southern First Greenville South Carolina was founded in 2000. The company took $15MM in tax payer funded bailout money, which it has decided to not pay back.
Assets are $759MM with equity of $71MM
Net income was ($447k) in FY10 and $265k in FY09
Based on this historical performance, how long will it take them to pay the tax payer back the $15MM? Eternity.
Fortunately, the executives get paid before the tax payer.
R. Arthur Seaver made $637k
F. Justin Strickland made $403k
Frederick Gilmer made $203k
This includes country club memberships and car allowances.
That is pretty good pay for taking tax payer money and not paying it back.
So, if you are a lawyer or a banker in the south, you get to stick a letter in front of your name.
Do you have your money here?
Southern First, tax payer last.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
June 21, 2011
This Robert Sarver he took $160MM of your money which he can’t pay back
He makes $1.5MM a year
Hold on he lost this bank “$415MM” in the last 3 years
Robert should be n jail
Robert you lost $415MM, how the hell are you going to pay back $160MM
Western Alliance Bank Las Vagas Nevada took $160MM in tax payer funded bailout money, which they decided not to pay back. Maybe they lost it at the casino.
Assets are $6.1B with equity of $602MM
Net income was ($17MM) in FY10, ($161MM) in F09 and ($237MM) in FY08.
Stellar financial performance. How are they going to pay back the tax payer $160MM?
They better stick with poker, the one armed bandit won’t cut it..
Wow, these executives pay themselves well to lose all this money.
Robert Sarver made $1.5M
Kenneth Vecchione made $1.8MM
Dale Gibbons made $567k
Gerald Cody made $643k
James Gundy made $556k
So, these guys pay themselves $5M, to lose, get this, $415MM!
They are not worried about pay for performance.
What a life, they also get paid to steal tax payer money and not pay it back.
What happens in Vegas stays in Vegas?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
June 21, 2011
This is Rusty Clouter, he took $20MM of you money which he won’t pay back
Rusty makes $450k including a country club membership
Rusty where is the $20MM
MidSouth Bank Lafayette Louisiana took $20MM in tax payer funded bailout money, which they have decided to not pay back.
Assets are $1B with equity of $127MM.
Net income was $4MM in FY10, $3MM in FY09 and $5MM in FY08.
How come they didn’t use these funds to pay back the tax payer?
Maybe they needed the money to pay the executives.
C R Cloutier made $450k
Karen Hall made $253k
James McLemore made $252k
John Nichols made $219k
Don’t worry, these salaries include country club memberships.
This team has it made, they pay themselves first, steal tax payer money and make no effort to pay it back.
We get to work and pay taxes, to pay for them to play golf! That is a good racket.
For some reason, the website doesn’t want to tell you who the management team.
Just go the country club, you’ll find them there.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
June 21, 2011
This is Walter Kacmarek, he took $40MM of your tax payer money which he can’t pay back
Walter hasn’t even paid interest on these funds since 8/09
Walter caused his bank to lose $72MM in the last 2 years, how is he going to pay back $40MM, he can’t
Luckily Walter gets paid $938k a year, not bad for bankrupting this place
Walter should be incarcerated
Heritage Commerce Corp San Jose California was founded in 1994. They company took $40MM in tax payer funded bailout money, which they decided to not repay. Then again, they haven’t even made an interest payment since 8/09.
Assets are $1.2M with equity of $182MM.
Net income was ($58MM) in FY10 and ($14MM) in FY09.
So, how are they going to pay the tax payer back $40MM. Not happening in my lifetime.
Walter Kacmarek made $938k
Lawrence McGovern made $330k
David Kawamoto made $252k
Raymond Parker made $609
Wow, these guys have it made. They make great salaries, get tax payer funding and don’t have to pay it back.
Do you have money in this place? They have your money and the tax payer’s money, who is better than these guys. This is California dreaming
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
June 21, 2011
This is Todd Brice, this clown took $106MM of you tax payer money, which he won;t pay back
Todd makes $908k per year including a country membership and a car allowance, funded by the tax payer
This fat cat banker is not missing any meals
Todd the tax payer wants the $106MM back
How many chins doe Todd have?
S&T Bank Indiana Pennsylvania was founded in 1902. The company took $106MM in tax payer funded bailout money, which they have decided to not pay back.
Assets are $4.4B with equity of $576MM
Net income was $37MM in FY10 and $2MM in FY09.
Why wasn’t this money used to repay the tax payer?
How come they are paying dividends to the share holders, but are not paying back the tax payer?
At least the executives pay themselves well, for not paying the tax payer back.
Todd Brice made $809k
Mark Kochvar made $443
Edward Havek made $664k
David Antolik made $458k
David Ruddock made $358k
Robert Routt made $129k
That includes country memberships and car allowances!
Wow, that is good pay for western Pennsylvania.
These guys have a great gig, make bis salaries, steal tax payer money and not pay it back. To top it off, the tax payer pays for your country club memberships.
Do you have money in the place?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
June 21, 2011
This is Larry Miller, the CEO, he took $15MM of your money which he won;t pay back
Hold on Larry, you are giving away $6k and you owe the tax payer $15MM
Don’t worry about Larry, he pays himself $508k a year
Don’t worry about Larry, he is not starving, how many chins does he have?
Peoples Bank York Pennsylvania took $15MM in tax payer funded bailout funds which they have yet to pay back.
Assets are $957MM with equity of $76M
The actual equity is $65MM as the $15 in bailout money is debt not equity.
Net income was $5MM in FY10, $2MM in FY09 and $4MM in FY08.
How come these funds weren’t used to repay the tax payer?
At least the executives got before the tax payer.
Larry Miller made $508k
Harry Swift made $329k
Jan Weaver made $188k
These people get paid well and they get tax payer funding! That is good scam.
Is this really the Peoples Bank? They should change the name to the Tax Payers bank.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
June 21, 2011
Center Bank Los Angeles California was founded in 1986. The company took $55MM in tax payer funded bailout money, which they refused to repay. For some reason they aren’t on the problem bank list. I guess the regulators don’t think taking, $55MM in tax payer money and not paying it back, is a problem.
Assets are $2.2B with $292 in equity.
The actual equity is $237MM, as the $55MM they took is not equity.
The problem loan portfolio is $116MM, with $96MM on non accrual.
The non accrual alone could destroy the equity base. That is not a problem?
Net income was ($9MM) in FY10 and ($45MM) in FY09.
How are they going to pay back $55MM at this rate? They can’t.
At least the executives get paid, even if the tax payer doesn’t.
Jae Whan Ho made $301k
Lisa Kim Pai made $211k
Lonny Robinson made $208k
Jason Kim made $161k
Sook Kyong Goo made $160k
Don’t worry, these salaries include country club fees and car allowances.
This team won’t pay back the $55MM in tax payer funds, but they the money to go golfing. That’s right it’s on the tax payers dime.
This is good pay for for stealing tax payer money.
Do you money in this place?
Tags:deliquency, executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
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June 21, 2011
Take a look at the new site capital2risk.com
This fat cat bankster is Michael Kramer
This A$$hole lost $21,000,000 in Q4 2011
Why does Michael have no hair? He wiped out 29% of the remaining equity in only 90 days
Michael is savvy F$$ing banker
Michael took $33,000,000 in the tax payers money
Michael won’t even pay interest on the money he took
This clown is sitting on $76,000,000 in junk loans
He hasn’t even paid interest on these funds since 11/09
Check out Denise Cobb
This Cobb is sitting on $76,000,000 in shit loans
FSG Bank Chattanooga Tennessee was founded in 2000. The company took $33MM in tax payer funded bailout money, which it has chosen to not pay back. As a matter fact, they haven’t even made an interest payment of these funds since 11/09. That hasn’t stopped the executives from paying themselves hundreds of thousands of dollars. They are also on the problem bank list.
Assets are $1.1B, with supposed equity of $88MM.
The actual equity is $55MM, as the $33MM in tax payer funds is debt, not so called preferred stock.
The problem loan situation is large. They have $68MM in problem loans, with $53MM on non accrual and $28MM in OREO.
This bank is insolvent.
Why have they not been shut down?
These guys are also professionals at losing money.
Net income was ($48MM) in FY10 and ($35MM) in FY09.
This allowed them to wipe out 55% of the equity in 2 years.
With this stellar financial performance, how are they going to pay the tax payer back $33MM? They can’t.
At least the executives were well paid for bankrupting this place.
Roger Holly made $830k
William Lusk made $217k
Lloyd Montgomery made $663k
This includes country club fees.
Roger Holly was recently kicked to the curb, however he was given a $2MM golden parachute. Sounds like Roger had his wife’s business on the payroll.
Sounds like Roger should be in jail.
This company stole $33MM, non of which they can pay back, they can’t even pay interest but, they have money for their country club memberships.
Lloyd you pay yourself $663k, you must know where the $33MM, in take payer money you took is.
Lloyd Montgomery should be in jail. If you are looking for Lloyd check out the golf course.
Lloyd, can you possibly use the country club fees to pay back the tax payer?
Do you have money with these criminals? Take it out, they took our tax payer money and you are not getting it back.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, under capitalized | 2 Comments »
June 21, 2011
This is A Thomas Hood, he stole $65,000,000 of your money
A Hole Hood makes $354,000 to take tax payer money
This Hood is sitting on $165,000,000 shit loans
Take a look at A. Thomas Hood, this guy took $65MM of your tax payer money, which he won’t pay back
He gets paid $354k to rack up $165MM in bad loans
How many chins does this fat slob have? A hole Thomas the Hood
A. Thomas, you lost $40MM last year, how are going to pay back $65MM, you can’t
This guy is from the Hood
First Federal Charlston South Carolina was founded in 1934. The company stole $65MM in tax payer funded bailout money, which it has refuses to pay back. For some reason, they aren’t on the problem bank list. I guess taking tax payer money and not paying it back is not a problem for the FDIC.
Assets are $3.25B with $282 in supposed equity.
The actual equity is $217MM, as the $65MM in tax payer funds that is classified as prefered stock, is actually debt.
The problem loan portfolio in relation to equity is impressive. They have $165MM in non accrual and $27MM in OREO.
With, $165MM in non accrual and $217MM in equity, this place is insolvent.
Why are they not shut down.
Why aren’t they on the problem bank list?
Net income was ($40MM) in FY10.
How are they going to pay back $65MM at this rate?
They can’t, they stole tax payer money, which they can’t return.
Here is the list of criminals that bankrupted this place, but still get paid very well.
R. Wayne Hall made $293k
Blaise Bettendorf made $156k
A. Thomas Hood made $354k
Richard Arthur made $276k
James Dale Hall made $272k
These guys pay themselves well to steal $65MM, wipe out the shareholders and run a 77 year old financial institution into oblivion
I guess if you are a banker in South Carolina, you can stick a letter in front of your name, which allows to steal tax payer money and not pay it back.
R. Wayne offered to pay the tax payer back with Confederate money!
Do you have money in this disaster?
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
June 20, 2011
Take a look at the new site
capital2risk.com
How many chins does Michael have, thanks to the tax payer he appears well fed.
This is Michael Price, he took $21MM in bailout money, which he won’t pay back
Michael hasn’t even paid interest on your money since 5/10
Don’t worry Michael get paid $496k, including a country club membership
How many chins does this fat cat bankster have? he is not going hungry
Thanks to Michael, this bank lost $71MM in the last 3 years
Michael, how the hell are you going to pay the tax payer back $21MM?
At least the country club membership is paid for by the tax payer
You can’t put a price on this clown
This is Robert Kaminski he makes $318,000 which includes country club expenses
Robert was instrumental in losing $71,000,000 for this bank
Why is Robert going bald, maybe having $75,000,000 in bad loans could do that
Here is Charles Christmas, the CFO, he makes $265,000 to steal $21,000,000
Holy Christ, this dope destroyed this bank
Did you invest in this disaster?
Move to Merc?
This place is bankrupt, they took $21,000,000 of your money, which they can’t pay interest on
Mercantile Bank Grand Rapids Michigan was founded in 1997. The company took $21MM in tax payer funded bailout money, which it has not paid back. They have also, have not even paid interest of these funds since 5/10. For some reason, they are not on the problem bank list.
Assets are $1.58B with equity of $159MM.
The equity is actually $139MM, as the $20MM in tax payer funding, is debt not so called equity.
They have $75MM in loans on non accrual, with $15MM in OREO.
This place is close to being insolvent.
Are you sure they shouldn’t be on the problem bank list?
Net income was ($14MM) in FY10, ($52MM) in FY09 and ($5MM) in FY08.
With this financial performance, how are going to pay back $20MM? They are aren’t.
The management team wiped out 39% of the equity in 3 years.
At least the executives paid themselves well, despite screwing over the tax payers
Michael Price made $496k
Robert Kaminski made $318k
Charles Christmas made $265k
That also includes country fees, a gratuity from the tax payer. These guys don’t even pay interest on the tax payer money, but they have their country club fees paid.
That is good pay for running this place into the ground and taking $20MM in tax payer money.
Is this you bank? Say hi to Michael Price, when you see him at the country club, on your dime.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
June 20, 2011
Check out B. Keith Johnson, he took $20MM of your money
B. Keith hasn’t even paid interest on these funds since 8/10
he also got this place on the problem bank list
He makes $488k to destroy an 88 year old bank
I wouldn’t mind being Keith, that is good money for making $69MM in bad loans
First Federal Bank of Elizabethtown Elizabethtown Kentucky was founded in 1923. The company took $20MM in tax payer funded bailout money, which they have decided not to pay back. They have also chosen not to even pay interest to the tax payer on these funds, since 8/10. They are also on the problem bank list.
Assets are $1.29M with equity of $92MM.
The actual equity is $72MM, as the $20MM in tax payer money they won’t pay back, is debt not preferred stock.
The problem loan portfolio in relation to the equity base is scary. They have $69MM in problem loans, with $52MM on non accrual. OREO is $25MM
This bank is bankrupt.
How come they haven’t been shut down. What, the regulators think the tax payer might get repaid, think again.
Net income was ($10MM) in FY10, ($8MM) in FY09. Oh yea, the lost another $1.6MM in Q1 2011 .
At this rate how are they going to pay back $20MM?
Luckily the executives pay themselves, before the pay back the tax payer.
B. Keith Johnson made $478k
Gregory Schreacke made $230k
Charles Cheney made $193k
Larry Hawkins made $159k
Anna Moran made $176k
Steven Zagal made $150k
This team gets paid well for running an 88 year old financial institution into the ground.
B. Keith, where is the tax payers $20MM, in your pocket?
B. Keith, you won’t even pay interest on the money you stole from the tax payer, but you get paid $478K to bankrupt this place.
This bank survived the Great Depression but it won’t survive B. Keith.
Do you have your money here? They happily took the tax payer’s money.
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | Leave a Comment »
June 20, 2011
Take a look at the new site
capital2risk.com
That guy on the right is W. Bibb Lamar
W. Bibb took $50,000,000 in tax payer money which he can’t pay back
W. Bibb makes $486,000 a year which includes country club memberships
W. Bibb is sitting on $200,000,000 in bad loans, with $200,000,000 equity
W. Bibb is bankrupt
This fat slob needs a bib, he stole so much government money, he is drooling all over himself
BankTrust Mobile Alabama was founded in 1986. The company took $50MM in tax payer funded bailout money, was has decided to not pay back. I guess not paying back the taxpayer $50MM, is not enough to get you on the problem bank list. Even with a Texas ratio of 87%, they can’t qualify. These regulators are on top of things.
Assets are $2.1B with equity of $219MM
The actual equity is $169MM, as the $50MM in tax payer bailout funds, is not preferred stock as they are calling it, it is debt that they need to paid back. The government is just propping this thing up with tax payer funds, by putting the money in as equity.
The problem loan portfolio is impressive. They have $128MM in problem loans with $109MM on non accrual. Check this out, these clowns are sitting on $77MM in construction loans on non accrual. Savvy! They also have another $85MM in OREO.
So, they have $128MM in bad loans, with $169MM in equity and the can’t get on the problem bank list these days?
This thing is insolvent.
Why isn’t it shut down?
Net income was $842K in FY10 and ($124MM) in FY09.
How are they going to pay the tax payer back the $50MM. At this rate, they might have it paid back in 50 years.
The good thing is, the executives still pay themselves well for bankrupting this place.
W. Bibb Lamar made $486k
F Michael Johnson made $338k
Michael Fitzugh made $247k
Bruce Finley made $294k
Edward Livingston made $231k
Fortunately, this includes country club expenses, they are probably using the tax payer funds for this expense.
This is good pay for wiping out this place.
I guess, if you are a lawyer or banker in the south, you get to stick a letter in front of your name.
Hey W. Bibb where is the tax payers $50MM.
W. Bibb is probably at the country club, that might be a benefit to the tax payer, he can’t make any more bad construction loans while at the club.
Do you have money in this place? Well, they have your money and you are not getting it back!
I won’t bank with or trust this incompetent team.
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
June 20, 2011
Here is the new site
capital2risk.c0m
Take a look at Peter Haleas, he took $38,000,000 of your money which he can’t pay back
Peter won’t even pay interest on these funds
Holy Sh$$t Peter racked up $160,000,000 in bad loans, only $108,000,000 in equity
This place is bankrupt
Hold on Peter lost $21,000,000 in Q4 2011 alone
Peter how are you going to pay back the $38,000,000 you stole from the tax payer? You can’t
The Peter principal?
Do you have money in this disaster?
Peter steals tax payer money and won’t even pay interest on it
How about putting this criminal in jail?
Bridgeview Bank Bridgeview Illinois was founded in 1973. The company stole $38MM in tax payer funded bailout money, which it has decided to not pay back. Then again, they haven’t even paid interest on these funds. The customer has to pay interest but the bank doesn’t have to pay interest on money it owes the tax payer. I guess this isn’t enough to get one on the problem bank list these days. I seems like the regulators don’t care if the tax payer gets rapid.
Assets are $1.B with equity of $136MM.
However, the equity is only $98MM, as the $38MM, that the government lets them classify as preferred stock, is actually debt.
The problem loan portfolio in relation to the equity position is scary. They have $138MM in bad loans with $104MM on non accrual.
This place is bankrupt, with $98MM in equity, non accruals alone will wipe them out.
Why isn’t this place closed down.
Then again, why aren’t they on the problem bank list, it pretty obvious this bank has serious problems.
Net income was $912k in FY10 and ($7MM) in FY09.
Based on this financial performance, how are they going to pay the tax payer back $38MM? They can’t. They can’t even pay interest.
For some reason they don’t post financial statements or tell you who the management team is.
If you see CEO Peter Haleas, ask him how much he gets paid to run this place into the ground.
Do you have money in this disaster?
This bank took $38MM in tax payer money which the won’t pay back.
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | 4 Comments »
June 20, 2011
First Bank Troy North Carolina was founded in 1934. This bank stole $65MM in tax payer funded bailout money which, it has refused to pay back. For some reason they are not on the problem bank list. I guess taking $65MM from the tax payer and not paying it back, is not a problem.
Assets are $3.4B with $390MM.
The actual equity is $365, as they money they took from the tax payer is debt, not so called preferred stock, as the government lets them call it.
They have $274MM in problem loans with $214MM on non accrual.
So, they have $274MM in bad loans with $365MM in equity.
They have $88MM in non accrual construction loans, this alone will wipe them out.
This bank is insolvent.
Why aren’t they closed down
Then again, they are probably well qualified for the problem bank list.
Net income was $11MM in FY10, $61MM in FY09 and $24MM in FY08.
Why haven’t they used this money to pay back the taxpayer?
At least , the executives get paid well for wiping this place out.
Jerry Ochetree made $735k
Anna Hollers made $518k
Theresa Nixon made $428k
Eric Credle made $325k
David Grigg made $396k
Hey Jerry, you pay yourself $735k, to bankrupt this place and steal $65MM from the tax payer, which you refuse to pay back.
Do you have money in this bank? You are paying this team good money, to take $65MM of your money, which they won’t pay back.
Take your money out of this Zombie bank.
They are not the First Bank to take tax payer money and not pay it back.
Next time you go into this bank ask Jerry Ochetree where your $65MM is, it is being used to pay his country club membership.
Take a look at the 2010 year end financial statements, he says “our financial position is strong”
Strong, this thing is insolvent and owes the tax payer $65MM.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
June 17, 2011
Here is the new site
capital2risk.com
Here is Larry Brandt on the left this criminal took $16,000,000 in tax payer money which he won’t pay back
Larry gets paid $430,00 to take your money
Larry won’t even pay interest on the money he stole
Larry also wiped out the stockholders
Larry lost $1,800,000 in Q4 2011 alone how is this clown going to pay back the tax payer $16,000,000
Larry won’t even pay interest on the money he stole
Larry is sitting on $75,000,000 in bad loans, with $70,000,000 in equity
Larry you are F$$king bankrupt
First Federal Bank Harrison Arkansas was founded in 1934. This is one zombie bank. They took $16MM in tax payer funded bailout money, they have paid back $6MM. However, they have not paid interest on these funds since 10/09, they have only made 3 interest payments on these funds. That is a pretty good deal, when a bank doesn’t have to pay interest on money they took from the tax payer. The stock is delisted.
They are also on the problem bank list. It looks like they made some bad real estate loans, imagine that.
Here is Tommy Richardson he makes $264,000 to steal tax payer money
Tommy got this place on the problem bank list
Tommy also wiped out the stockholders
Assets are $573MM with equity of $35MM.
The actual equity is only $19MM, as the $10MM in so called preferred stock is actually debt not equity.
The problem loan portfolio incredible. They have $94MM in bad loans.
If the bank has $94MM in bad loans with $19MM in equity, I would say they are bankrupt.
Why isn’t this place shut down?
At least the executives get paid well, even though the tax payer doesn’t even get paid interest on their loan.
Larry Brandt made $430k
Tommy Richardson made $264k
Sherri Billings made $245k
So, these 3 pay themselves $1MM, but don’t pay interest on the money they stole from the tax payer.
Larry Brandt makes $430k to bankrupt the company, wipe out the stockholders and steal tax payer money. How about using some of the $430k to pay interest to the tax payer.
He also destroyed 94% of the equity in the company in 3 years.
Larry, you destroyed a 77 year old financial institution, good effort.
Larry, where is the $16MM you took from the tax payer, in your pocket.
When the first thing you see on the website is real estate they have for sale that is a problem.
They have 100 properties for sale, are you looking for vacant loan or abandoned properties.
Do you have money here? They are using your tax money to pay themselves large salaries.
Tags:executives paid despite non payment of bailout fund, FDIC Bankrupt, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | Leave a Comment »
June 15, 2011
Ridgestone Bank Brookfield Wisconsin was founded in 1999. The bank took $11MM in tax payer funded bailout money, which has neglected to pay back. They have also chosen not t pay dividends since 8/09. So this place pays it’s executives but won’t pay interest on the money, they took from the tax payer.
They are also on the problem bank list. They were cited for having weaknesses in management, capital, liquidity and asset quality. Maybe, that is why the Texas ratio is 92%.
Assets are $456MM with equity of $42MM.
The actual equity is $31MM, as the $11MM in tax payer funding is debt not preferred stock as they are calling it.
The problem loan portfolio is $54MM with $44MM on non accrual.
With $54MM in problem loans and $31MM in equity, this place is technically insolvent.
Why isn’t this place closed down.
How come they aren’t paying back the tax payer, let alone paying interest on the debt.
This place is a zombie bank, do you money in this thing?
Tags:executives paid despite non payment of bailout fund, FDIC Bankrupt, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | Leave a Comment »
June 14, 2011
Dan Ayscue makes $156k, he wiped out the shareholders, the stock is de listed
Dan took $3MM in tax payer money which hasn’t been repaid
Dan lost the bank $6MM in the last 2 years and racked up $23MM in bad loans
It doesn’t look like Dan is starving
Alliance Bank and Trust Gastonia North Carolina was founded in 2004. This place is a walking disaster but for some reason they are not on the problem bank list, those regulators are on top of things once again. You would think a Texas ratio of 91%, would give them adequate grounds for qualification. By the way, the stock is delisted.
If it is any consolation, they are on the list of banks that took tax payer money and decided to not pay it back. They took $3MM, non of which has been repaid.
They have $216MM in assets and equity of $20MM.
The actual equity is $17MM as the $3MM of tax money is debt not preferred stock.
The problem loan portfolio is $23MM.
It looks like they have $23MM in problem loans with $20MM in equity, that is probably not a good equity position.
This place is bankrupt.
Why isn’t it closed down.
Then again, why aren’t they on the problem bank list, you got to love the quality of those regulators. Once again, they are on top of things.
Take a look at the website, they haven’t updated the financial statements since 7/09.
Maybe because they lost $6MM over the last 2 years.
They lost $998k in Q2 alone
At least the executives get well paid to bankrupt this thing out in record time.
Daniel Ayscue made $156k
Eric Dixon made $118k
Mathew Triplett made $107k.
That’s good pay for wiping out the stockholders.
These guys do well for running this place into the ground in record time.
How about if you guys pay back the tax payer money you took!
I wouldn’t form an alliance with these people, nor would I bank or trust them.
Do you have money here, you might want to quickly sever that alliance.
Gastoania, how about a Gastroenterologist.
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
June 14, 2011
Monarch Community Bank Coldwater Michigan was founded in 1934. This place has it all. They took $6.5MM in tax payer funded bailout money. The bank hasn’t even paid interest on these funds since 11/09. They were also awarded a place on the problem bank list. The Texas ratio is 89%.
They have $255MM in assets with $12MM in equity.
The actual equity is $6.5, as the so called preferred stock is actually tax payer funded money, that they have decided to not pay back.
The problem loan portfolio is $23MM with $20MM on non accrual.
With $23MM in bad loans and $6.5MM in equity, this place is bankrupt.
They should be closed down.
Net income was ($10MM) in FY10 and ($9MM) in FY09.
With this financial performance how are they going to pay back the tax payer? They can’t.
This bankrupt entity is being propped up buy tax payer funds.
At least the executives are paid well for bankrupting a 77 year old financial institution.
Donald Denny made $105k
Richard Devies made $140k
Andrew von Dorian made $107k
That is good pay for destroying 500% of the equity.
This place is a Monarch all right, they inherit government money which they don’t have to pay back.
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | 3 Comments »
June 11, 2011
David Skiles makes $199k to wipe out this bank
He got them on the problem bank list for unsafe commercial real estate lending
David took $5.6MM of you tax payer bailout money, which he can’t pay back
David hasn’t even paid intrest on these funds since 10/09
David also got this place on the under capitalized bank list
He wiped out 233% of the equity in only 3 years
This guy is one savvy banker
First Peoples Bank Fort Saint Lucie Florida was founded in 1999. The company is on the problem bank list for unsafe and sound banking practices and incompetent commercial real estate lending. They were also cited for weakness in management, capital, earnings and asset quality. The Texas ratio is 196%.
The bank took $5.8MM in tax payer funded bailout money, which it has decided to not pay back. As a matter of fact, they haven’t even paid interest on these funds since 10/09. That is a pretty good deal from the tax payer.
The are also on the list of under capitalized banks. Their tier 1 risk based capital levels are 38% of the required amount, that is not good.
They have $232MM in assets and $6MM in equity.
However, the $5.8MM in tax payer funded bailout money is actually debt not preferred stock as they are calling it.
This disaster effectively has no equity, that $6MM in so called “equity”, is tax payer funding being used to prop up this insolvent institution.
The bank has $17MM in problem loans, of which $14MM are on non accrual.
With $17MM in problem loans and $6MM in equity, this thing is bankrupt.
Why hasn’t this shipwreck been closed.
Net income was ($7MM) in FY10, ($4MM) in FY09 and ($3MM) in FY08.
How are they going to pay back the tax payer? They are not.
The one thing they did do was wipe out 233% of the equity in the last 3 years.
They also ran the stock price into the ground, as it is now delisted and trading for 12 cents a share.
At least the executive compensation was not compromised for destroying this company.
David Skiles “earned” $199k
Marge Riley made $129k
William West made $124k
Nancy Aumuch made $113k
That is good pay for bankrupting a financial institution.
So David Skiles pays himself but won’t pay back the tax payer. He runs the stock price into oblivion and bankrupts the company. This guy is savvy.
Do you have money in this zombie bank?
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | Leave a Comment »
June 10, 2011
Ellis Gutshall the CEO took $16MM in bailout money which he can’t repay
Then again, he hasn’t even paid interest on this money since 2/10
At least Ellis is paying himself $494k a year, that must go pretty far in Roanoke
This is Kimberly Snyder CFO she is the one that loses all the money
You would think for $250,000 a year she could get a decent haircut
Kimberly why won’t you even pay interest on the $16,000,000 you stole from the tax payer
The median household income is like $30,000
This wench makes 10 times that and she stole $16,000,000 from you which she won’t even pay interest
Stop into Valley Bank and ask her were the money she took is ?
This clown is a disaster
Kimberley sure looks like a Snyder, that is Latin for Di$$nger
How about this cat as CFO, can’t be any dumber than Kimberley Snyder
Valley Bank Roanoke Virginia was founded in 1995. The bank took $16MM in tax payer funded bailout, which money which it has decided to not
repay. As a matter of fact, they haven’t paid interest on these funds since 2/2010. That is a good use of taxpayer money.
This is Andrew Agee this dope made $17,000,000 in bad loans
Andrew gets paid $210,000 a year to make S$$t loans
Here is Abney S Boxley III Chairman, hold on there are 3 of these clowns, weren’t the first 2 enough
What the hell is an Abney?
Sounds Phallic?
Then again, not paying interest on the money you took from the tax payer ABNEY is phallic
Abney how about calling up Robert E Lee and at least paying back the tax payer in confederate money
Ellis and Kimberly are across the street at the Holiday Inn EXPRESS, they make about $1,000,000 combined
They are utilizing the tax payers $16,000,000 good thing they can’t even pay interest on the money they stole
Ellis has found the Valley
They have assets of $767MM with equity of $53MM.
The actual equity is $37MM, as the $16MM they took from the tax payer and decided not to repay, is debt no preferred stock.
The bank has $17MM in problem loans.
Having $17MM in bad loans with $37MM in equity is not a great situation.
Net income was $2MM in FY10 and ($6MM) in FY09, at this rate how long will it take them to pay back $16MM?
Here they are using tax payer money to open another branch to make more junk loans, these are SAVVY banksters
The executives weren’t able to pay the tax payer but they paid themselves pretty well.
Ellis Gutshall made $494k
Kimberly Synder made $250k
Andrew Agee made $210k
This team paid themselves a $1MM, but don’t even pay interest on the tax payer money they stole.
Ellis, $494k must go pretty far in Roanoke! How about cutting you salary so you at least pay interest to tax payer.
Do you have money in this place?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
June 2, 2011
Check out the new site his head is fatter and balder
capital2risk.com
Gary Nalbadian makes $773k, which includes country club memberships and a car allowance
Not bad pay for getting this place on the problem bank list and wiping out the shareholders
This guy has 3 chins
Metro Bank Lemoyne Pennsylvania was founded in 1985. The company is on the problem bank list. The stock is delisted.
This fat cat bankster gets paid good money to wipe out the share holders
Have you ever seen a fatter, uglier bald head than this guy?
The bank has $2B in assets and $208MM in equity.
The problem loan portfolio is $73MM with $52MM on non accrual.
Having $73MM in problem loans with $208MM in equity is not a good situation.
This bank could be technically insolvent.
Net income was ($4MM) in FY10 and ($2MM) in FY09.
Fortunately, the executives were still able to pay themselves well despite the dismal performance.
Gary Nalbandian made $773k
Mark Zody made $403k
Peter Musumeci made $390k
Mark Ritter made $349k
James Ridd made $224k
Those salaries include country club fees and company cars.
Maybe these guys should spend more time at the country club, because when they do work, all they do is make bad loans and wipe out the shareholders.
That is good pay for running this bank into the ground and wiping out the shareholders.
This team gets paid $2MM to lose $4MM, not bad.
Is this your bank?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Problem Bank list | 6 Comments »
June 2, 2011
James Mgswiggen ran this place into the ground and got them on the problem bank list
He took $30MM in tax payer funded pay out money, which they haven’t even paid interest on since 2009
With $95MM in bad loans and $36MM in equity, the tax payer is royally screwed
Hold on, he gets paid $642k which a includes country club membership and a car allowance, paid for by the tax payer
That is good pay for losing $100MM
Royal Bank America Narbeth Pennsylvania was founded in 1963. The company is on the problem bank list as it has a cease and desist order. They were cited for inadequate management, capital, earnings and asset quality. The Texas ratio is 99%, making it the 3rd worst bank in the state.
The bank took $30MM in tax payer funded bailout money, which they have decided not to repay. Then again, they haven’t even made an interest payment since 5/09.
The company has $980B in assets and $66MM in equity.
The actual equity is $36MM as the $30MM in tax payer funded money is debt not preferred stock.
The problem loan portfolio is incredible. They have $95MM in bad loans.
The bank has $95MM in bad loans with $36MM in equity?
This thing is bankrupt.
Why aren’t they not closed down.
This management team also does a great job at losing money.
Net income was ($26MM) in FY10, ($39MM) in FY09 and ($38MM) in FY08.
Wow, that is quite a performance, $103MM in losses.
They lost another $5MM in Q2 2011.
Luckily, the executive compensation hasn’t been hindered.
Robert Tabas made $372k
James Mgswiggen made $642k
Murray Stampal made $324k
Robert Kuel made $200k
Don’t worry this pay includes $12k for car allowances, $5k country club fees and directors fees.
That is good money for taking $30 MM from the tax payer, not paying it back and not even paying interest. They also lost $100MM, racked up $139MM in bad loans and bankrupted the company.
James is Mgswiggen top shelf making $642k a year, while he destroyed this bank.
Is this your bank?
This place is a royal disaster.
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | Leave a Comment »
June 1, 2011
Premier West Bank Medford Oregon was founded in 1990. The company is on the problem bank list for unsafe and unsound banking practices most notably, weaknesses in management, capital, asset quality and earnings. The Texas ratio is 97%, making it one of the worst banks in the state.
The company took $41MM in tax payer funded bailout money which they have neglected to return. Then again, they haven’t paid interest on these funds since 8/09. Not bad, a bank takes money from the tax payer, doesn’t pay it back and then doesn’t even pay interest on it?
They have $1.4B in assets with $88MM in equity.
The actual equity is $47MM as the $41MM in so called preferred stock is really debt not equity as the government is calling it.
The bad loan portfolio is incredible. They have $163MM in bad loans, with $156MM on non accrual.
Take a look, this bank has $163MM in bad loans with $41MM in equity.
Check this out, they have $48MM in non accrual construction loans and $28MM in non accrual developement loans.
This team is savvy, they made $76MM in bad construction loans. That alone will wipe out the remaining equity.
They are beyond bankrupt.
Why aren’t they shut down?
Net income was ($3MM) in FY10 and ($144MM) in FY09.
How are they going to pay the tax payer back it’s $41MM? They can’t.
Fortunately, the executives got paid well to destroy this bank.
James Ford made $299k
Tom Anderson made $278k
Michael Fowler made $177k
James Danielson made $186k
William Yorbenet made $188k
Wow, that is good money to lose $147MM in two years, make a $163MM in bad loans, steal $41MM in tax payer money and bankrupt the company.
Let alone, wiping out the stockholders.
Who is better than these guys.
This management team is Premier!
This group needs a raise for this performance.
How about more stock.
So James Ford, how are you going to pay back $41MM?
Do you have money in this premier disaster? Call James Ford, he has no clue.
James Ford should be in jail for stealing your money, while he pays himself.
This guy is a white collar criminal.
Why rob a bank when you can own one quote, “James Ford”
You might want to take your money out of this “premier” institution.
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | Leave a Comment »
May 25, 2011
Take a look at the new site
capital2risk.com
Truly sad! I heard they are currently being sued. I read a previous lawsuit file of sexual misconduct going on within the bank….yikes! About ten years ago, a friend of mine said she saw a branch manager and teller having sex on a desk before the branch opened for the day. Maybe instead of “chasing tail” they should be covering their “assets.”
Here is Tony Sorcic he wiped out this bank and killed this town, he should be in jail
Here he is as a kid, same haircut, Our Gang
Here is Tony burying the investors money in the ground
When is the FDIC going to stop by Tom?
It looks like there is a run on this bank, George Bailey would be proud
Tom Ogaard makes $319,000 a year, the average per capita in this town is $20,000
If you see Tom around town , ask him for the $25,000,000 and how about the interest”
Tom Ogaard has stolen your money long enough
Do you have money in this place?
The FDIC is bankrupt
Take a look at that joker on the left, that is Tom Ogaard he took $25,000,000 in tax payer money which he can’t pay back
Tom hasn’t even pay interest on your money since 11/10
Don’t worry Tom gets paid $319,000 a year
Tom made $132,000,000 in bad loans
The stock is delisted, check out the 8-K
Do you have money in this disaster?
Hopefully your bank is not on the Capital2risk list
This is Tony Sorcic, this is the criminal who bankrupted this place
Who does his hair?
You will be looking like these guys, deer in the headlights.
Check out capital2risk, you will see the rest of the banks that stole your money
How about starting a run on this bank!
OCCUPY CITIZENS FIRST NATIONAL BANK PRINCETON ILLINOIS!
Go to the bank and ask Tom Ogaard where is your $25,000,000 that he stole
How about if Tom starts paying interest on the money he took, lets start with $319,000 that he pays himself
He makes $319,000 he is the 1%.
The median per capita income in Princeton is $20,000
Tom Ogaard pays himself $319,000 to bankrupt the local bank.
Most people on Wall Street don’t make $319,000
Tom Ogaard gets paid $150 an hour to run the local bank into the ground
Tom bankrupted a 146 year old bank, this bank survived the great depression but it won’t survive Tom Ogaard!
He also got this place on the problem bank list
Why the hell are they giving this clown and award?
This is now the 2nd worst bank in the state the Texas ratio has increased to 122%
Tom lost another $18,000,000 in Q3 2011, he wiped 25% of the equity in 90 days
Q4 will interesting
Where is Tom’s left hand? Hopefully not where I think it is
This guy makes $319,000 a year and he gives this heifer a clock , at the BEEF and Ag
Citizens First National Bank Princeton Illinois was founded in 1865. The company took $25MM in tax payer funded bailout money which it has decided to not repay. Then again, they stopped paying interest on these funds on 11/10. Not bad, when a bank doesn’t pay interest on money they borrowed. Why can’t the tax payer do that? The company is on the problem bank list, shocking! The Texas ratio is 92%, this place is history.
The bank has $1B in assets with $56MM in stated equity.
The actual equity is $31MM, as the so called preferred stock provided by the tax payer is debt not equity.
The problem loan situation is incredible. They have $132MM in problem loans, $102MM of which are on non accrual.
They have $31MM in equity with $132MM bad loans.
Tom is giving out clocks, his time is running out
Take a look, Tom has bigger breasts than the guy he is giving the clock to
Hold on, Tom is giving another clock way, this guy steals $25,000,000 from the tax payer and he gives you a clock
It might be time to convict Tom
Have you seen this guy around town
This is Todd Fanning he makes $192,000 a year, wonder why he has no hair?
He might be bald but at least he has pubic hair on his face
It would take the average person in this town 10 years to make what Todd makes in one year!
How many people in this town make $192,000 a year
If you see Todd around town, ask him for the $25,000,000 of your tax payer $$$ he took.
This thing is beyond bankrupt!
Why hasn’t this bank been shut down.
Net income was ($18MM) in FY10 and ($22MM) in FY09
So how are they going to pay back the $25MM, they took from the tax payer. That is not going to happen.
Luckily the executive compensation wasn’t effected, as they ran this place into ruin.
Thomas Ogaard made $319k
James Miller made $194
Todd Fanning made $192
That’s good pay for destroying a 146 year old bank
Funny, how they don’t publish the financial statements on the website? Probably busy making bad loans.
It’s public information, not hard to find.
Tags:deliquency, executives paid despite non payment of bailout fund, FDIC Bankrupt, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | 26 Comments »
May 22, 2011
Hyde Park Bank Chicago, Illinois was founded in 1928. The bank took $9MM in government bailout funds which they haven’t repaid.
They have assets of $369MM with equity of $29MM.
The actual equity is $20MM as the $9MM is debt not equity.
The bank has $11MM in problem loans.
The $10MM on non accrual could put a strain on the equity position.
Net income was $2MM in FY10, $1MM in FY09.
Why haven’t they repaid the tax payer funds.
They have forgotten to post their FY10 financial statements.
Tags:Non repayment of Gov. bailout funds
Posted in Non repayment of Gov. bailout funds | Leave a Comment »
May 20, 2011
Check out John Perrotti in the pink jacket
It looks like he is giving a check away?
John took $9MM of your tax payer funded money which he won’t pay back
Why is smiling? He makes a $175k and took $9MM of your money
The pink coat is financed by the tax payer
He is sitting on 18MM in bad loans
Salisbury Bank Lakeville Connecticut was founded in 1874. The company took $9MM in tax payer funds which it hasn’t repaid. However, they did pay a dividend to the shareholders.
They have assets of $575MM and equity of $43MM.
The actual equity is $34MM, when you back out the bailout funds.
The bank has $18MM in problem loans, $15MM of which are on non accrual.
The non accruals could wipe out a significant portion of the equity position.
Net income was $3MM in FY10 and $2MM in FY09.
Why weren’t these funds used to pay back the tax payer.
The executives did get paid.
Richard Cantele made $191k
John Perrotti made $175k
The tax payer made 0
Hey, Richard Cantele, where is the $9MM you stole from the tax payer? Check your pocket.
Is this your bank? You might want to jump in the lake.
Richard Cantele is a criminal. How about locking Dick up, until he pays back the $9MM he stole. and won’t pay back.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 20, 2011
This is William Mass he took $9MM of you tax payer money and makes $353k a year
Does this fat cat look like he is going hungary on you bailout money?
How many chins does William Mass have?
Two River Community Bank Middletown, New Jersey accepted $9MM in government bailout funds which hasn’t been paid back. However, they were able to pay a dividend to the shareholders.
The bank has $636MM in assets and $80MM in equity.
The company had net income of $3MM in FY10.
Why haven’t they repaid the tax payer.
Well the tax payer didn’t get paid, but the executives sure did.
William Mass made $353k
Alan Turner made $238k
Richard Abrahamian made $180k
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 20, 2011
Elmira Savings Bank Elmira, New York, the company took $9MM in tax payer funded bailout money which they failed to repay. However, they were able to pay dividends to their investors.
The company has $453MM in assets with $27MM in equity.
The actual equity is $18MM, when the $9MM in tax payer money is properly treated as debt rather than equity.
The bank is probably under capitalized.
Net income was $2MM in FY10 and $1.6MM in FY09.
Why haven’t they used these funds to pay back the tax payer?
At least, the executives weren’t afraid to pay themselves.
Michael Hosey made $474k
Thomas Carr made $265k
Kevin Berley made $166k
Don’t worry, the compensation includes country club memberships and car allowances.
So, when is this tax payer money getting paid back, probably not during the golf season.
Michael Hoseme takes 25% of the company’s net income and tax payer money.
Do have money in this place?
I am thinking $472k is probably pretty good pay for Elmira. Wow, that is good pay for Manhattan!
Don’t worry the tax payer is funding their country club memberships
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 20, 2011
First Priority Bank Malvern Pennsylvania took $9MM in bailout money that it hasn’t paid back.
The bank has assets of $268MM with equity of $27MM
Net income was $143k in FY10, ($1MM) in FY09 and ($1MM) in FY08.
Based on this financial performance, how are they going to pay the tax payer back $9MM?
Paying back the tax payer doesn’t look like their first priority!
Tags:Non repayment of Gov. bailout funds
Posted in Non repayment of Gov. bailout funds | Leave a Comment »
May 20, 2011
This is Bob Altieri he took $9MM in bailout money, which he won’t repay
Bob makes $292k a year
Bob lost this bank $1MM in each of the last 2 years, how long will it take him to pay back $9MM
Carrollton Bank Baltimore Maryland was founded in 1904. The bank took $9MM in bailout money which it hasn’t repaid.
They have assets of $283MM with $33MM in equity.
The equity position is actually $24MM when the tax payer funding is backed out.
The bank has $13MM in problem loans, $11MM of which are on non accrual.
The non accrual could severely erode the equity position.
Net income was ($1M) in FY10 and ($1MM) in FY09.
At the rate, how can they pay back the $9MM.
Don’t worry, the executives are doing fine.
Robert Altieri made $283k
Mark Semanie made $180k
Jeff Jewell made $248k
This management team pays themselves almost a million dollars and the lose a million dollars for the company?
That is creating shareholder value.
Is this your bank?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 20, 2011
This guy took $9MM in tax payer funded money, which he won’t pay back
Then again, he hasn’t even paid interest on it 5/2010
Lud makes $160k a year, while he is on the problem bank list for negligent commercial real estate lending
This guy runs one of the worst banks in South Carolina
Why is he smiling, he gets paid good money to destroy a 77 year old bank
Provident Community Bank Rock Hill South Carolina was founded in 1934. They have taken $9MM in government bailout money which they have not repaid. Also, they stopped paying interest on these funds in May 2010. The company is on the problem bank list for negligent commercial real estate lending. The Texas ratio is 99%, making one of the worst in South Carolina.
The assets are $408MM and the stated equity is $10MM
As, the bailout funds are actually debt not equity, the true equity position is $1MM.
This bank is being propped up by the tax payer.
This management team was able to wipe out 133% of the equity in 3 years.
The problem loans in relation to the equity position is incredible. It has $32MM in problem loans, $29MM of which are on non accrual.
The bank has $1MM in equity, with $32MM in problem loans.
This bank is between a rock and a hard place.
Why isn’t this place shut down, they are insolvent.
Net income was ($14MM) in FY10 and ($7M) in FY09.
How are they going to pay back $9MM?
With $29MM on non accrual, they aren’t.
The executives continue to do well despite causing these problems
Dwight Neese made $258k
Richard Flake made $160k
Lud Vaugh made $160k
That’s good pay for taking down a 77 year old bank.
Maybe Dwight Neese should use that $258K to pay back the tax payer money he took.
Dwight where is our $9MM, check your pocket.
Is this your bank? Take out your money, until Dwight Neese pays back the tax payer back the $9MM he stole.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | 6 Comments »
May 19, 2011
Where is the $10MM you took?
Bay Cities Bank Tampa Florida was founded in 1999. The company took $10MM in bailout funds which still hasn’t been paid back.For some reason the are not on the problem bank list.
They have $622MM in assets with $56MM in equity.
The equity position is actually $46MM when the $10MM is bailout funds is backed out.
The problem loan situation in relation to the equity position is incredible. The bank has $45MM in problem loans of which $32MM is non accrual.
The company has $45MM in bad loans with $45MM in equity.
This place is bankrupt
Why aren’t they shut down?
Why aren’t they at least on the problem bank list? I guess it is very competitive to become listed on the problem bank list in Florida.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 19, 2011
Check out the new site
capital2risk.com
Here is Matt Brown, CEO
Matt took $10,000,000 of your money which he won’t pay back
Matt’s bank is on the problem bank list
This clown lost $10,343,000 in Q4 2011
Why does is Matt bald? Because he wipe out 90% of the equity in 90 days
How is that for Premier
This guy should be in jail
How is this dope going to pay back the $10,000,000 he stole from the tax payer?
This place took $10MM in tax payer money which it can’t pay back
This is Linda Plamer the CFO
Linda F$$cked the tax payer out of $10,000,000
They are on the problem bank list
Don’t worry, the $10MM is only monopoly money, they can’t pay it back
This is Al Basford Commercial Lender
This Idiot made $35,000,000 in junk loans
Hold on, they have $48MM in problem loans, $9MM in supposed equity and they owe the tax payer $10MM, go directly to park place
Premier Bank Tallahassee Florida was founded in 1995. The company took $10MM in tax payer funding, which they have decided to not give back. The company is on the problem bank list. They were cited for weakness in management, capital, earnings and liquidity. The Texas ratio is an incredible 119%.
Take a look at the real estate for sale on the website, this place likes to finance vacant land. That could be due to the weakness in management cited by the Feds.
That is a Premier bank.
Commercial Lenders
They have $357MM in assets with $19MM in stated equity.
The actual equity is $9MM, as the $10MM in tax payer funds is debt not equity.
The bank has $48MM in problem loans, $42MM of which is on non accrual.
The company has $48MM in bad loans with only $9MM in equity.
That is not Premier.
This place is bankrupt
Why hasn’t it been shut down.
This place is a disaster.
Do you have money in this place?
1
FEDERAL DEPOSIT INSURANCE CORPORATION
WASHINGTON, D.C.
STATE OF FLORIDA OFFICE OF FINANCIAL REGULATION TALLAHASSEE, FLORIDA
In the Matter of
PREMIER BANK
TALLAHASSEE, FLORIDA
(Insured State Nonmember Bank)
))))))))))
CONSENT ORDER
FDIC-10-074b
OFR 0722 -FI-02/10
The Federal Deposit Insurance Corporation (“FDIC”) is the appropriate Federal
banking agency for Premier Bank, Tallahassee, Florida (“Bank”), under 12 U.S.C. §
1813(q).
The Bank, by and through its duly elected and acting Board of Directors
(“Board”), has executed a “Stipulation to the Issuance of a Consent Order”
(“STIPULATION”), dated May 4, 2010, that is accepted by the FDIC and the Florida
Office of Financial Regulation (“OFR”). The OFR may issue an order pursuant to
Chapter 120 and Section 655.033, Florida Statutes (2009).
With this Stipulation, the Bank has consented, without admitting or denying any
charges of unsafe or unsound banking practices or violations of law and/or regulation
relating to weaknesses in asset quality, earnings, management, capital, liquidity, and
2
sensitivity to market risk, to the issuance of this Consent Order (“ORDER”) by the FDIC
and the OFR.
Having determined that the requirements for issuance of an order under 12 U.S.C.
§ 1818(b) and under Chapter 120 and Section 655.033, Florida Statutes have been
satisfied, the FDIC and the OFR hereby order that:
BOARD OF DIRECTORS
1. Beginning with the effective date of this ORDER, the Board shall increase its
participation in the affairs of the Bank, assuming full responsibility for the approval of
sound policies and objectives and for the supervision of all of the Bank’s activities,
consistent with the role and expertise commonly expected for directors of banks of
comparable size. The Board shall prepare in advance and follow a detailed written
agenda for each meeting, including consideration of the actions of any committees.
Nothing in the foregoing sentences shall preclude the Board from considering matters
other than those contained in the agenda. This participation shall include meetings to be
held no less frequently than monthly at which, at a minimum, the following areas shall be
reviewed and approved: reports of income and expenses; new, overdue, renewal, insider,
charged-off, and recovered loans; investment activity; operating policies; and individual
committee actions. Board minutes shall document these reviews and approvals,
including the names of any dissenting directors.
COMPLIANCE WITH ORDER
2. Within 30 days from the effective date of this ORDER, the Board shall establish a
Board committee (“Directors’ Committee”), consisting of at least five members, to
oversee the Bank’s compliance with the ORDER. Three of the members of the
3
Directors’ Committee shall not be officers of the Bank. The Directors’ Committee shall
receive from Bank management monthly reports detailing the Bank’s actions with respect
to compliance with the ORDER. The Directors’ Committee shall present a report
detailing the Bank’s adherence to the ORDER to the Board at each regularly scheduled
Board meeting. Such report shall be recorded in the appropriate minutes of the Board’s
meeting and shall be retained in the Bank’s records. Establishment of this committee
does not in any way diminish the responsibility of the entire Board to ensure compliance
with the provisions of this ORDER.
MANAGEMENT
3. (a) Within 60 days from the effective date of this ORDER, the Bank shall
develop and approve a written analysis and assessment of the Bank’s management and
staffing needs (“Management Plan”). The Management Plan shall include, at a
minimum: (i) identification of both the type and number of officer positions
needed to properly manage and supervise the affairs of the Bank;
(ii) identification and establishment of such Bank committees as are
needed to provide guidance and oversight to active management;
(iii) annual written evaluations of all Bank officers, and staff members
to determine whether these individuals possess the ability, experience and other qualifications required to perform present and anticipated duties,
including, but not limited to, adherence to the Bank’s established policies
and practices, and restoration and maintenance of the Bank in a safe and
sound condition;
4
(iv) a plan to recruit and hire any additional or replacement personnel
with the requisite ability, experience and other qualifications to fill those
officer or staff member positions consistent with the needs identified in
the Management Plan; and
(v) an organizational chart.
(b) Such Management Plan and its implementation shall be satisfactory to the Regional Director of the FDIC’s Atlanta Regional Office (“Regional Director”) and the
OFR (collectively, “Supervisory Authorities”).
(c) Within 90 days from the effective date of this ORDER, the Bank shall
have and retain qualified management with the qualifications and experience
commensurate with assigned duties and responsibilities at the Bank. Each member of
management shall be provided appropriate written authority from the Bank’s Board to
implement the provisions of this ORDER. At a minimum, management shall include the
following:
(i) a chief executive officer with proven ability in managing a bank of
comparable size and in effectively implementing lending, investment and
operating policies in accordance with sound banking practices;
(ii) a senior credit officer with a significant amount of appropriate
lending, collection, and loan supervision experience, and experience in
upgrading a low quality loan portfolio; and
(iii) a chief financial officer with a demonstrated ability in all financial
areas, including but not limited to, accounting, regulatory reporting,
5
budgeting and planning, management of the investment function, liquidity
management and interest rate risk management.
(d) The qualifications of management shall be assessed on its ability to:
(i) comply with the requirements of this ORDER;
(ii) operate the Bank in a safe and sound manner;
(iii) comply with applicable laws and regulations; and
(iv) restore all aspects of the Bank to a safe and sound condition,
including, but not limited to, asset quality, capital adequacy, earnings,
management effectiveness, risk management, liquidity, and sensitivity to
market risk.
(e) During the life of this ORDER, the Bank shall notify the Supervisory
Authorities in writing, of the resignation or termination of any of the Bank’s directors or
senior executive officers. Prior to the addition of any individual to the Board or the
employment of any individual as a senior executive officer, or executive officer as that
term is defined in Subpart F of Part 303 of the FDIC Rules and Regulations, 12 C.F.R. §
303.101 and Section 655.005, Florida Statutes, the Bank shall comply with the
requirements of Section 32 of the Act, 12 U.S.C. § 1831i, and Subpart F of Part 303 of
the FDIC Rules and Regulations, 12 C.F.R. §§ 303.100-303.104; and Section 655.0385,
Florida Statutes, and Rule 69U-100.03852 Florida Administrative Code.
CAPITAL
4. (a) Within 90 days from the effective date of the ORDER, the Bank shall
achieve and maintain the following minimum capital levels as defined in Part 325 of the
6
FDIC Rules and Regulations, 12 C.F.R. Part 325, after establishing an adequate
allowance for loan and lease losses (“ALLL”):
(i) Tier 1 capital at least equal to eight (8.0%) percent of total assets;
and
(ii) Total risk-based capital at least equal to twelve (12.0%) percent of
total risk-weighted assets.
(b) Thereafter during the life of this ORDER, the Bank shall maintain Tier 1
capital in such an amount as to equal or exceed eight (8%) percent of the Bank’s total
assets; and a Total risk-based capital ratio of at least twelve (12%) percent as those risk
based capital ratios are described in the FDIC Statement of Policy on Risk-Based Capital
contained in Appendix A to Part 325 of the FDIC Rules and Regulations, 12 C.F.R. Part
325, Appendix A.
(c) Within 30 days of the last day of each calendar quarter, the Bank shall
determine, from its Reports of Condition and Income, its capital ratios for that calendar
quarter. If any capital measure falls below the established minimum, within 30 days of
such required determination of capital ratios, the Bank shall submit a written plan to the
Supervisory Authorities, describing the means and timing by which the Bank shall
increase such ratios up to or in excess of the established minimum.
(d) The level of Tier 1 Capital to be maintained during the life of this ORDER
pursuant to paragraph 4(b) shall be in addition to a fully funded ALLL, the adequacy of
which shall be satisfactory to the Supervisory Authorities as determined at subsequent
examinations and/or visitations.
7
(e) Any increase in Tier 1 Capital necessary to meet the requirements of
paragraphs 4(a) and 4(b) of this ORDER may be accomplished by the following:
(iii) sale of common stock; or
(iv) sale of noncumulative perpetual preferred stock; or
(v) direct contribution of cash by the Board, shareholders, and/or
parent holding company; or
(vi) any other means acceptable to the Supervisory Authorities; or
(vii) any combination of the above means.
Any increase in Tier 1 Capital necessary to meet the requirements of paragraphs 4(a) and
4(b) of this ORDER may not be accomplished through a deduction from the Bank’s
ALLL.
(f) If all or part of any necessary increase in Tier 1 Capital required by
paragraphs 4(a) and 4(b) of this ORDER is accomplished by the sale of new securities,
the Board shall forthwith take all necessary steps to adopt and implement a plan for the
sale of such additional securities, including the voting of any shares owned or proxies
held or controlled by them in favor of the plan. Should the implementation of the plan
involve a public distribution of the Bank’s securities (including a distribution limited only
to the Bank’s existing shareholders), the Bank shall prepare offering materials fully
describing the securities being offered, including an accurate description of the financial
condition of the Bank and the circumstances giving rise to the offering, and any other
material disclosures necessary to comply with the Federal securities laws. Prior to the
implementation of the plan and, in any event, not less than fifteen (15) days prior to the
dissemination of such materials, the plan and any materials used in the sale of the
8
securities shall be submitted to the FDIC, Division of Supervision and Consumer
Protection, Accounting and Securities Disclosure Section, 550 17th Street, N.W., Room
F-6066, Washington, D.C. 20429 and the Office of Financial Regulation, Division of
Financial Institutions, 200 East Gaines Street, Tallahassee, Florida 32399-0371, for
review. Any changes requested to be made in the plan or materials by the FDIC or the
OFR shall be made prior to their dissemination. If the increase in Tier 1 Capital is
provided by the sale of noncumulative perpetual preferred stock, then all terms and
conditions of the issue, including but not limited to those terms and conditions relative to
interest rate and convertibility factor, shall be presented to the Supervisory Authorities
for prior approval.
(g) In complying with the provisions of Paragraphs 4(a) and 4(b) of this
ORDER, the Bank shall provide to any subscriber and/or purchaser of the Bank’s
securities, a written notice of any planned or existing development or other changes
which are materially different from the information reflected in any offering materials
used in connection with the sale of Bank securities. The written notice required by this
paragraph shall be furnished within ten (10) days from the date such material
development or change was planned or occurred, whichever is earlier, and shall be
furnished to every subscriber and/or purchaser of the Bank’s securities who received or
was tendered the information contained in the Bank’s original offering materials.
(h) For the purposes of this ORDER, the terms “Tier 1 Capital” and “total
assets” shall have the meanings ascribed to them in Part 325 of the FDIC Rules and
Regulations, 12 C.F.R. Part 325.
9
CHARGE-OFF
5. (a) Within 30 days from the effective date of this ORDER, the Bank shall
eliminate from its books, by charge-off or collection, all assets or portions of assets
classified “Loss” and 50 percent of those assets classified “Doubtful” in the FDIC Report
of Examination dated October 13, 2009 (“Report”) that have not been previously
collected or charged-off. (If an asset classified “Doubtful” is a loan or lease, the Bank
may, in the alternative, increase its ALLL by an amount equal to 50 percent of the loan or
lease classified “Doubtful”.)
(b) Additionally, while this ORDER remains in effect, the Bank shall, within
30 days from the receipt of any official Report of Examination of the Bank from the
FDIC or the OFR, eliminate from its books, by collection, charge-off, or other proper
entries, the remaining balance of any asset classified “Loss” and 50 percent of the those
classified “Doubtful” unless otherwise approved in writing by the Supervisory
Authorities.
RESTRICTIONS ON CERTAIN PAYMENTS
6. (a) While this ORDER is in effect, the Bank shall not declare or pay
dividends or bonuses without the prior written approval of the Supervisory Authorities.
All requests for prior approval shall be received at least 30 days prior to the proposed
dividend or bonus payment declaration date (at least 5 days with respect to any request
filed within the first 30 days after the date of this ORDER) and shall contain, but not be
limited to, an analysis of the impact such dividend or bonus payment would have on the
Bank’s capital, income, and/or liquidity positions.
10
(b) During the term of this ORDER, the Bank shall not make any distributions
of interest, principal or other sums on subordinated debentures, if any, without the prior
written approval of the Regional Director.
ALLOWANCE FOR LOAN AND LEASE LOSSES
7. (a) Immediately upon the issuance of this ORDER, the Board shall make a
provision to replenish the ALLL which, as of the date of the examination, is underfunded
as set forth on page 2 of the Report.
(b) Within 30 days from the effective date of this ORDER, the Board shall
review the adequacy of the ALLL and establish a comprehensive policy for determining
the adequacy of the ALLL. For the purpose of this determination, the adequacy of the
ALLL shall be determined after the charge-off of all loans or other items classified
“Loss.” The policy shall provide for a review of the ALLL at least once each calendar
quarter. Said review shall be completed in time to properly report the ALLL in the
quarterly Reports of Condition and Income. The review shall focus on the results of the
Bank’s internal loan review, loan and lease loss experience, trends of delinquent and nonaccrual
loans, an estimate of potential loss exposure of significant credits, concentrations
of credit, and present and prospective economic conditions. A deficiency in the ALLL
shall be remedied in the calendar quarter it is discovered, prior to submitting the Reports
of Condition and Income, by a charge to current operating earnings. The minutes of the
Board meeting at which such review is undertaken shall indicate the results of the review.
The Bank’s policy for determining the adequacy of the ALLL and its implementation
shall be satisfactory to the Supervisory Authorities.
11
BROKERED DEPOSITS
8. (a) Throughout the effective life of this ORDER, the Bank shall not accept,
renew, or rollover any brokered deposit, as defined by 12 C.F.R. § 337.6(a)(2), unless it
is in compliance with the requirements of 12 C.F.R. § 337.6(b), governing solicitation
and acceptance of brokered deposits by insured depository institutions.
(b) The Bank shall comply with the restrictions on the effective yields on
deposits as described in 12 CFR § 337.6.
FUNDS MANAGEMENT PLAN
9. (a) Annually during the life of this ORDER, the Bank shall review its written
plan addressing liquidity, contingent funding, and asset liability management for
adequacy and, based upon such review, shall make appropriate revisions, if any, to the
plan that are necessary to strengthen funds management procedures and maintain
adequate provisions to meet the Bank’s liquidity needs.
(b) The Bank’s plan shall include, at a minimum: (i) a limitation on the ratio of the Bank’s total loans to assets;
(ii) identification of a desirable range and measurement of dependence
on non-core funding;
(iii) establishment of lines of credit that would allow the Bank to
borrow funds to meet depositor demands if the Bank’s other provisions for
liquidity proved inadequate;
(iv) a requirement for retention of sufficient investments that can be
promptly liquidated to ensure the maintenance of the Bank’s liquidity
posture at a level consistent with short-term and long-term objectives;
12
(v) establishment of contingency plans to restore liquidity to that amount called for in the Bank’s liquidity policy; and
(vi) establishment of limits for borrowing federal funds and other
funds, including limits on dollar amounts, maturities, and specified
sources/lenders.
REDUCTION OF CLASSIFIED ITEMS
10 . (a) Within 60 days from the effective date of this ORDER, the Bank shall
formulate a written plan to reduce the Bank’s risk exposure in each asset in excess of
$500,000 classified as “Substandard” or “Doubtful” in the Report. In developing the plan
mandated by this paragraph, the Bank shall, at a minimum, with respect to each adversely
classified loan, review, analyze, and document the financial position of the borrower,
including source of repayment, repayment ability, and alternative repayment sources, as
well as the value and accessibility of any pledged or assigned collateral, and any possible
actions to improve the Bank’s collateral position.
(b) Within 60 days from the effective date of this ORDER, the Bank shall
formulate a written plan to reduce the aggregate balance of assets classified
“Substandard” and “Doubtful” in the Report in accordance with the following schedule:
(i) within 90 days from the effective date of this ORDER, the Bank
shall have reduced the items classified “Substandard” or “Doubtful” in the
Report by ten percent (10.0%);
(ii) within 180 days from the effective date of this ORDER, the Bank
shall have reduced the items classified “Substandard” or “Doubtful” in the
Report by twenty percent (20.0%);
13
(iii) within 270 days from the effective date of this ORDER, the Bank
shall have reduced the items classified “Substandard” or “Doubtful” in the
Report by thirty percent (30.0%); and
(iv) within 360 days from the effective date of this Order, the Bank
shall have reduced the items classified “Substandard” or “Doubtful” in the
Report by forty-five percent (45.0%).
(c) Within 60 days from the effective date of this ORDER, the Bank shall
submit the plans required in paragraphs 10(a) and 10(b) to the Supervisory Authorities
for review and comment. Within 30 days from the receipt of any comment from the
Supervisory Authorities, and after due consideration of any recommended changes, the
Bank shall approve the plans, which approval shall be recorded in the minutes of the
meeting of the Board. Thereafter, the Bank shall implement and fully comply with the
plans. Such plans shall be monitored and progress reports thereon shall be submitted to the Supervisory Authorities at 90-day intervals concurrently with the other reporting
requirements set forth in paragraph 23 of this ORDER.
(d) The requirements of this paragraph are not to be construed as standards for
future operations and following compliance with the above reduction schedule, the Bank
shall continue to reduce the total volume of adversely classified assets. As used in
subparagraphs 10(a) and 10(b) the word “reduce” means:
(i) to collect;
(ii) to charge-off; or
(iii) to sufficiently improve the quality of assets adversely classified to
warrant removing any adverse classification, as determined by the
14
Supervisory Authorities.
NO ADDITIONAL CREDIT TO CERTAIN BORROWERS
11. (a) Beginning with the effective date of this ORDER, the Bank shall not
extend, directly or indirectly, any additional credit to, or for the benefit of, any borrower
who has a loan or other extension of credit from the Bank that has been charged off or
classified, in whole or in part, “Loss” or “Doubtful” and is uncollected. The
requirements of this paragraph shall not prohibit the Bank from renewing (after collection
in cash of interest due from the borrower) any credit already extended to any borrower.
(b) Additionally, during the life of this ORDER, the Bank shall not extend,
directly or indirectly, any additional credit to, or for the benefit of, any borrower who has
a loan or other extension of credit from the Bank that has been classified, in whole or
part, “Substandard”, or is listed for “Special Mention” and is uncollected.
(c) Paragraph 11(b) shall not apply if the Bank’s failure to extend further
credit to a particular borrower would be detrimental to the best interests of the Bank.
Prior to the extending of any additional credit pursuant to this paragraph, either in the
form of a renewal, extension, or further advance of funds, such additional credit shall be
approved by a majority of the Board or a designated committee thereof, who shall certify
in writing as follows:
(i) why the failure of the Bank to extend such credit would be
detrimental to the best interests of the Bank;
(ii) that the Bank’s position would be improved thereby; and
(iii) how the Bank’s position would be improved.
15
(d) The signed certification shall be made a part of the minutes of the Board
or its designated committee and a copy of the signed certification shall be retained in the
borrower’s credit file.
SPECIAL MENTION
12. Within 60 days from the effective date of this ORDER, the Bank shall develop
and submit to Supervisory Authorities for review and comment a plan to correct the cited
deficiencies in the loans listed for “Special Mention” in the Report. Within 30 days from receipt of any comment from the Supervisory Authorities, and after due consideration of
any recommended changes, the Bank shall approve the plan, which approval shall be
recorded in the minutes of the Board meeting. Thereafter, the Bank shall implement and
fully comply with the plan
CONCENTRATIONS OF CREDIT
13. Within 60 days from the effective date of this ORDER, the Bank shall perform a
risk segmentation analysis with respect to the commercial real estate concentrations of
credit listed on the Concentrations page of the Report. The Bank should refer to the
Financial Institution Letter 104-2006 dated December 12, 2006, entitled Concentrations
in Commercial Real Estate Lending, Sound Risk Management Practices, for information
regarding risk segmentation analysis. A copy of this analysis shall be provided to the
Supervisory Authorities. The Bank agrees to develop a plan to reduce any segment of the
portfolio which the Supervisory Authorities deem to be an undue concentration of credit
in relation to the Bank’s capital account. The plan and its implementation shall be in a
form and manner acceptable to the Supervisory Authorities as determined at subsequent
examinations and/or visitations.
16
LENDING AND COLLECTION POLICIES
14. (a) Within 60 days from the effective date of this ORDER, the Bank shall
develop, revise, adopt, and implement written lending and collection policies to provide
effective guidance and control over the Bank’s lending function. Such policies and their
implementation shall be in a form and manner acceptable to the Supervisory Authorities.
(b) The initial revisions to the Bank’s loan policy and practices, required by
this paragraph, at a minimum, shall include the following:
(i) revisions to address criticisms and recommendations enumerated
on pages 7-8 of the Report;
(ii) provisions, consistent with FDIC instructions for the preparation of
Reports of Condition and of Income, under which the accrual of interest
income is discontinued and previously accrued interest is reversed on
delinquent loans; and
(iii) provisions which require complete loan documentation, realistic
repayment terms, and current credit information adequate to support the
outstanding indebtedness of the borrower. Such documentation shall
include current financial information, profit and loss statements or copies
of tax returns and cash flow projections.
(c) The Board shall adopt procedures whereby officer compliance with the
revised loan policy is monitored and responsibility for exceptions thereto assigned. The
procedures adopted shall be reflected in the minutes of a Board meeting at which all
members are present and the vote of each is noted.
17
INTERNAL LOAN REVIEW
15. Within 60 days from the effective date of this ORDER, the Bank shall adopt an
effective internal loan review and grading system to provide for the periodic review of
the Bank’s loan portfolio in order to identify and categorize the Bank’s loans, and other
extensions of credit which are carried on the Bank’s books as loans, on the basis of credit
quality. Such system and its implementation shall be satisfactory to the Supervisory
Authorities as determined at their initial review and at subsequent examinations and/or
visitations. At a minimum, the grading system shall provide for the following:
(a) specification of standards and criteria for assessing the credit quality of the
Bank’s loans;
(b) application of loan grading standards and criteria to the Bank’s loan
portfolio;
(c) categorization of the Bank’s loans into groupings based on the varying
degrees of credit and other risks that may be presented under the applicable grading
standards and criteria, but in no case, will a loan be assigned a rating higher than that
assigned by examiners at the last examination of the Bank without prior written
notification to the Supervisory Authorities; (d) identification of any loan that is not in conformance with the Bank’s loan
policy; and
(e) requirement of a written report to be made to the Board and audit
committee, not less than quarterly after the effective date of this ORDER. The report
shall identify the status of those loans that exhibit credit and other risks under the
18
applicable grading standards/criteria and the prospects for full collection and/or
strengthening of the quality of any such loans.
STRATEGIC PLAN
16. (a) Within 90 days from the effective date of this ORDER, the Bank shall
prepare and submit to the Supervisory Authorities for review and comment an update to
the Bank’s existing business/strategic plan covering the overall operation of the Bank. At
a minimum the plan shall establish objectives for the Bank’s earnings performance,
growth, balance sheet mix, liability structure, capital adequacy, and reduction of
nonperforming and underperforming assets, together with strategies for achieving those
objectives. The plan shall also identify capital, funding, managerial and other resources
needed to accomplish its objectives. Such plan shall specifically provide for the
following:
(i) goals for the composition of the loan portfolio by loan type
including strategies to diversify the type and improve the quality of loans
held;
(ii) goals for the composition of the deposit base including strategies to
reduce reliance on volatile and costly deposits; and
(iii) plans for effective risk management and collection practices.
(b) Within 30 days from the receipt of any comments from the Supervisory
Authorities, and after due consideration of any recommended changes, the Board shall
approve the business/strategic plan, which approval shall be recorded in the minutes of a
Board meeting.
19
PROFIT PLAN
17. (a) Within 90 days from the effective date of this ORDER, the Bank shall
formulate and implement a written plan to improve and/or sustain Bank earnings. This
plan shall be forwarded to the Supervisory Authorities for review and comment and shall
address, at a minimum, the following:
(i) goals and strategies for improving and sustaining the earnings of
the Bank;
(ii) the major areas in, and means by which the Bank will seek to
improve the Bank’s operating performance;
(iii) realistic and comprehensive budgets;
(iv) a budget review process to monitor the income and expenses of the
Bank to compare actual figures with budgetary projections;
(v) the operating assumptions that form the basis for, and adequately
support, major projected income and expense components; and
(vi) coordination of the Bank’s loan, investment, and operating policies
and budget and profit planning with the funds management policy.
(b) Following the end of each calendar quarter, the Board shall evaluate the
Bank’s actual performance in relation to the plan required by this paragraph and shall
record the results of the evaluation, and any actions taken by the Bank in the minutes of
the Board meeting at which such evaluation is undertaken.
(c) Thereafter, the Bank shall formulate such a plan and budget by November
30 of each subsequent year. These plans and budgets shall be submitted to the
20
Supervisory Authorities for review and comment by December 15 of each subsequent
year.
INTEREST RATE RISK MANAGEMENT
18. Within 60 days from the effective date of this ORDER, the Bank shall develop
and implement a written policy for managing interest rate risk in a manner that is
appropriate to the size of the Bank and the complexity of its assets. The policy shall
comply with the Joint Agency Policy Statement on Interest Rate Risk and Financial
Institution Letter 02-2010 entitled Financial Institution Management of Interest Rate
Risk, shall be consistent with the comments and recommendations detailed in the Report
and shall include, at a minimum, the means by which the interest rate risk position will be
monitored, the establishment of risk parameters, and provision for periodic reporting to
management and the Board regarding interest rate risk with adequate information
provided to assess the level of risk. Such policy and its implementation shall be
satisfactory to the Supervisory Authorities.
VIOLATIONS OF LAWS AND REGULATIONS
19. Within 60 days from the effective date of this ORDER, the Bank shall eliminate
and/or correct all violations of law and regulation, which are more fully set out in the
Report. In addition, the Bank shall take all necessary steps to ensure future compliance
with all applicable laws and regulations.
CONFLICTS OF INTEREST
20. Within 30 days from the effective date of this ORDER, the Bank shall develop,
adopt, and implement written policies and procedures designed to bring to the attention of
each member of the Board conflicts of interest which may exist in approving loans or
21
other transactions in which officers, directors or principal shareholders of the Bank
(“Insiders”) are involved. Such policies and procedures shall, at a minimum, ensure that
each member of the Board has been apprised of any potential conflict prior to making a
decision, or acting specifically on any loan or other transaction in which Insiders and/or
their business associates are, directly or indirectly, involved. The results of any
deliberations by the Board regarding potential conflicts shall be reflected in the minutes
of its meetings.
NO MATERIAL GROWTH WITHOUT NOTICE
21. While this ORDER is in effect, the Bank shall notify the Supervisory Authorities
at least 60 days prior to undertaking asset growth to ten percent (10%) or more per annum
or initiating material changes in asset or liability composition. In no event shall asset
growth result in noncompliance with the capital maintenance provisions of this ORDER
unless the Bank receives prior written approval from the Supervisory Authorities.
DISCLOSURE
22. Following the effective date of this ORDER, the Bank shall send to its shareholders
or otherwise furnish a description of this ORDER in conjunction with the Bank’s next
shareholder communication and also in conjunction with its notice or proxy statement
preceding the Bank’s next shareholder meeting. The description shall fully describe the
ORDER in all material respects. The description and any accompanying communication,
statement, or notice shall be sent to the FDIC, Division of Supervision and Consumer
Compliance, Accounting and Securities Disclosure Section, 550 17th Street, N.W., Room
F-6066, Washington, D.C. 20429 and to the OFR, Division of Financial Institutions, 200
East Gaines Street, Tallahassee, FL 32399-0371, at least fifteen (15) days prior to
22
dissemination to shareholders. Any changes requested to be made by the FDIC and the
OFR shall be made prior to dissemination of the description, communication, notice, or
statement.
PROGRESS REPORTS
23. (a) Within 45 days from the end of the first quarter following the effective
date of this ORDER, and within 45 days of the end of each quarter thereafter, the Bank
shall furnish written progress reports to the Supervisory Authorities detailing the form
and manner of any actions taken to secure compliance with this ORDER and the results
thereof. Such reports shall include a copy of the Bank’s Reports of Condition and
Income.
(b) Such reports may be discontinued when the corrections required by this
ORDER have been accomplished and the Supervisory Authorities have released the Bank
in writing from making further reports.
(c) All progress reports and other written responses to this ORDER shall be
reviewed by the Board and made a part of the minutes of the appropriate Board meeting.
The provisions of this ORDER shall not bar, estop, or otherwise prevent the
FDIC, the OFR, or any other federal or state agency or department from taking any other
action against the Bank or any of the Bank’s current or former institution-affiliated
parties.
This ORDER shall be effective on the date of issuance.
The provisions of this ORDER shall be binding upon the Bank, its institutionaffiliated
parties, and any successors and assigns thereof.
23
The provisions of this ORDER shall remain effective and enforceable except to
the extent that, and until such time as, any provisions of this ORDER shall have been
modified, terminated, suspended, or set aside in writing.
Issued Pursuant to Delegated Authority.
Dated this 5th day of May, 2010.
/s/
By: ________________________
Thomas J. Dujenski
Regional Director
Division of Supervision and Consumer Protection
Atlanta Region
Federal Deposit Insurance Corporation
The Commissioner of the OFR having duly approved the foregoing ORDER, and
the Bank, through its Board, agree that the issuance of said ORDER by the FDIC shall be
binding as between the Bank and the OFR to the same degree and to the same legal effect
that such ORDER would be binding if the OFR had issued a separate ORDER that
included and incorporated all of the provisions of the foregoing ORDER, pursuant to
Chapters 120, 655, and 658, Florida Statutes (2009), including specifically Sections
655.033 and 655.041, Florida Statutes.
Dated this 4th day of May, 2010.
/s/ _______________________________ Linda B. Charity
Director Division of Financial Institutions
Office of Financial Regulation
By Delegated Authority for the Commissioner, Office of Financial Regulation
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XXX Garrett Lane
Havana, FL 32333 |
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Great commercial lot in Gadsden County just off of HWY 27 and only minutes off of I-10. Other regional contractors and businesses operate from this accessible location. |
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$115,000.00Contact:Premier Bank
(850) 386-4726
(850) 386-2225
realestate@premier-bank.com |
Commercial – LotLocation:
Commonwealth Ln
Tallahassee, FL 32303-3196 |
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COMMONWEALTH OFFICE PARK: Superb commercial lot in Tallahassee’s premier office park. Private and governmental offices, distribution, manufacturing, great infrastructure and immediate access to Interstate 10. |
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$499,000.00Contact:Ben Wilkinson
Tallahassee Land Company
(850) 385-6363
BenW@tlhland.com |
Commercial – LotLocation:
1907 Miccosukee Rd
Tallahassee, FL 32303 |
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1907 MICCOSSUKEE ROAD: Finished office site ready for construction! Parking, storm water, curb and gutter, sidewalks, are all complete. |
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$80,000.00Contact:Jason Naumann
Naumann Real Estate
(850) 325-1681
jason@naumangroup.com |
Residential – Single FamilyLocation:
540 McNair Road
Havana, FL 32333 |
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Investment or starter home in the country east of Havana. 3 bedroom, 2 bath home with garage on .81 large acre lot. |
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$87,000.00Contact:Brice Pelfrey
Tallahassee Land Company
850-385-6363
bpelfrey@tlhland.com |
Residential – Single FamilyLocation:
4262 Ridgehaven Rd
Tallahassee, FL 32305 |
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WILSON GREEN: Great first home or investment opportunity in Wilson Green! 1325 square foot home with 3 bedrooms, 2 baths, garage and eat in kitchen. |
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$18,000.00Contact:Mark Trafton
Armor Realty of Tallahassee
850.893.2525 |
Residential – LotLocation:
XX Lake McKissack Lane
Carrabelle, FL 32322 |
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Lakefront Lot on Lake McKissack, Franklin County. On fresh water just a hop, skip and jump from the Gulf. |
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$18,000.00Contact:Mark Trafton
Armor Realty of Tallahassee
850.893.2525 |
Residential – LotLocation:
White Oak Dr
Monticello, FL 32344 |
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Price Reduced on this great 1 acre corner lot in The Sanctuary. Beautiful oaks, new neighborhood in Jefferson County off of Hwy 59. |
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$25,000.00Contact:Mark Trafton
Armor Realty of Tallahassee
850.893.2525 |
Residential – LotLocation:
Coquina Crossing Dr
St Marks, FL 32355 |
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VILLAGES OF ST MARKS: Wooded lot in neighborhood just outside St. Marks on the Wakulla River. Great private subdivision with amenities. |
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$22,500.00Contact:Premier Bank
(850) 386-4726
(850) 386-2225
realestate@premier-bank.com |
Residential – LotLocation:
4586 RICE DR
Tallahassee, FL 32304 |
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Lots 2, 3, 4, 5, & 11 for sale in new neighborhood. Secluded quiet cul-de-sac with nice homes tucked away off of Ross Road. |
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$35,000.00Contact:Mark Trafton
Armor Realty of Tallahassee
850.893.2525 |
Residential – LotLocation:
Mexico Ln
Tallahassee, FL 32301 |
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Two wooded residential lots located off of Meridian St just north of Putnam. Located along unimproved City right of way. |
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$40,000.00Contact:Brice Pelfrey
Tallahassee Land Company
850-385-6363
bpelfrey@tlhland.com |
Residential – LotLocation:
3068 Elmwood Drive
Tallahassee, FL 32317 |
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2/3 acre Residential Lot on Elmwood Drive off of Walden Road, close to Mahan Drive. |
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$42,000.00Contact:Brice Pelfrey
Tallahassee Land Company
850-385-6363
bpelfrey@tlhland.com |
Residential – LotLocation:
3049 BIDHURST CT
Tallahassee, FL 32317-7486 |
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PRICE REDUCED! Lots 8, (10 sold), 13, 14 Adiron Woods. Beautiful neighborhood, quiet cul-de-sac, great location as soon as you get onto Walden Rd. off Mahan before I-10. |
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$220,000.00Contact:Mark Trafton
Armor Realty of Tallahassee
850.893.2525 |
Residential – LotLocation:
XXX Lonnie Road
Tallahassee, FL 32308 |
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4.79 acres – Beautiful wooded property located on Lonnie Road off of Miccosukee Road. Two parcels; 1.91 acre and 2.88 acres. Great for private homestead or long term investment. Has been approved for residential subdivision with 26 lots. All close to shopping, schools, only minutes from town. |
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$327,000.00Contact:Ben Wilkinson
Tallahassee Land Company
(850) 385-6363
BenW@tlhland.com |
AcreageLocation:
HIGHWAY 59
aka GAMBLE RD
Monticello, FL 32344 |
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Acreage in Jefferson County on SR 59 (Gamble Rd). 112 acres in two contiguous tracts, 35 acres and 77 acres. Approximately 2 miles south of I-10, it takes less time to get to downtown Tallahassee than from Killearn Lakes Plantation. |
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$875,000.00Contact:Brice Pelfrey
Tallahassee Land Company
850-385-6363
bpelfrey@tlhland.com |
AcreageLocation:
Silver Lake Rd
Tallahassee, FL 32310 |
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436 acres level, partially wooded land southwest of Tallahassee. Level topography. Engineering plans, environmental studies and development plans are all available for review. |
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Tags:deliquency, executives paid despite non payment of bailout fund, FDIC Bankrupt, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | 2 Comments »
May 19, 2011
Take a look at the new site
capital2risk.com
This is Sid Spiro he stole $10,000,000 in tax payer money
Sid haven’t even paid interest on the money you stole since 8/10
Sid is a criminal
Cyril where the hell is the $10,000,000 you stole?
Wonder why this clown is bald? He lost $5,363,000 in Q4 2011 alone
This idiot is sitting on $31,00,000 in bad loans
Sid got this place on the problem bank list
The efficiency ratio is 102%, this dope loses money just opening up the doors
The Texas ratio is 78%
Check out the ROE (20%)
Sid Spiro took $10MM in tax payer money, which he won’t repay
Then again Sid hasn’t even paid interest on these funds since 8/10
They are on the problem bank list for weakness in mangement
With $43MM in bad loans and $31MM in equity, it is no wonder Sid is bald
Regent Bank Davie Florida was founded in 1986. The company took $10MM in tax payer funded bailout money, which it has decided to not repay. Then again, they haven’t even made a interest payment on these funds since 8/10. So, the tax payer has to pay interest but the bank doesn’t have to? They are on the prestigious problem bank list. They were cited for having weakness in management, capital, earning and liquidity. What else is there. It appears as if the made some bad commercial real estate loans. Shocking a bank in Florida making bad real estate loans. “Regent” the one thing this place rules, is in making bad commercial real estate loans.
The company has $474MM in assets and $41MM in stated equity.
The actual equity is $31MM when you back out the $10MM tax payer loan.
The problem loan situation is phenomenal. They have $43MM in bad loans.
Check this out, they have $43MM in bad loans and $31MM in equity.
This place is bankrupt.
Why aren’t they shut down?
Net income was ($2MM) in FY10 and ($1.6MM) in FY09.
It looks like the tax payer is not getting paid back.
This bank is a disaster.
Do you have money in this place?
Tags:default, deliquency, executives paid despite non payment of bailout fund, FDIC, FDIC Bankrupt, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in Banking, executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 19, 2011
Take a look at the new site
capital2risk.com
This is Ken Harper he took $10MM of your tax payer money, which he won’t pay back
This fat cat hasn’t even paid interest on the money he took, from you since 10/10
Ken Harper makes $266k a year to take your money and run this bank into the ground
This includes country club fees of $12,000 and cell expenses of $9,200
Hold on the tax payer is paying for this fat slob to play golf and he won’t even pay interest on the money he stole?
Does this guy look hungry? he has 3 chins
This fat slob steals your tax payer money to play golf, he is a criminal
Greer State Bank Greer South Carolina was founded in 1989. The company took $10MM in tax payer funded bailout money which it won’t return. In fact, they haven’t even made an interest payment since 10/10. It’s pretty good when the bank doesn’t have to pay interest on money they borrow! However, they are not on the problem bank list believe me, this place has problems.
The bank has assets of $438MM with stated equity of $18MM.
The actual equity is $8MM, as the $10MM owed to the tax payer is debt not equity.
This where your tax payer money is going to pay for Greer to go to the Oktoberfest!
The problem loan situation is incredible. They have $26MM in problem loans, with $18MM on non accrual.
Hold on, they have $10MM in equity and $26MM in bad loans.
This bank is bankrupt.
Why haven’t they been shut down?
Then again, why aren’t they on the problem bank list?
This place is also adept at losing money.
Net income was ($8MM) in FY10, ($1MM) in FY09 and ($5MM) in FY08.
They lost another $1.6MM in Q2 2011.
How are they going to pay the tax payer back $10MM?
At least the executives get paid well for running this place into the ground.
Kenneth Harper made $266k
Victor Grout made $161k
Richard Medlock made $147k
So, Kenneth Harper makes $266k to lose $16MM and takes $10MM of tax payer money?
Kenneth Harper doesn’t even pay interest on the $10MM he took from the taxpayer.
How about just paying interest on the debt.
Remember Kenneth, this is tax payer money you took.
That’s good pay for wiping out a company and losing millions of dollars!
How about putting this clown in jail?
Is this your bank?
Take your money out of this place
Tags:deliquency, executives paid despite non payment of bailout fund, FDIC Bankrupt, insolvent, Non repayment of Gov. bailout funds, problem bank list
Posted in executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | 2 Comments »
May 19, 2011
Take a look at the site
capital2risk.com
http://www.capital2risk.com/home-town-bank-roanoke-v/
This is Susan Still, she took $10MM of your tax payer money, which she won’t pay back
She gets paid $208k to bankrupt this place
Home Town Bank Roanoke Virginia was founded in 2005. The company took $10MM in tax payer bailout money which it won’t pay back.
The bank had $353MM in assets with $27MM in equity.
The actual equity is $17MM, when the tax payer funded preferred stock.
The company has $7MM in problem loans.
The non accrual could potentially wipe out another 35% of the equity.
Net income was ($3.6MM) in FY10 and $539k in FY09.
At this rate how are they going to pay the tax payer back $10MM? It doesn’t look good.
Susan Still makes $208k
William Moses makes $125k
They pay Susan Still good money to destroy this company.
It didn’t take this place long to steal tax payer money and go bankrupt.
When is the last time the government gave you $10MM, that you didn’t have to pay back?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 19, 2011
Century Bank Sante Fe New Mexico was founded in 1910. The company took $10MM in tax payer funding which it won’t repay.
The bank has $520MM in assets with $56MM in equity.
The actual equity is $46MM when the tax payer funds are backed out.
The company has $17MM in problem loans.
Net income was $917K in FY10, how long will it take them to pay back $10MM?
10 years if they are lucky.
They do have an impressive list of real estate for sale.
The bank doesn’t like to post it’s financial statements, don’t worry it is not that hard to find.
Tags:Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 19, 2011
This is Roger Dick? He took $10MM of your tax payer money, which he won’t pay back
Roger got paid $402k last year
The company only made $68k last year
Based on this financial performance how long will it take this Dick to pay you back $10MM?
Uwharrie Capital Corporation Albemele North Carolina took $10MM in tax payer funded bailout money which they have neglected to pay back. However, they were able to pay dividends to their shareholders.
The company has $535MM in assets with $42M in equity.
Net income was $68k in FY10 and $42K in FY09.
Based on these earnings, how long will it take them to pay the tax payer back $10MM, try 200 years?
The executives get paid well for generating no net income.
Roger Dick made $402k
Brendan Duffy made $351k
Robert Bratten made $125k
Christy Stoner made $247k
Bill Lawton made $161k
Roger Dick and Brendan Duffy combined make 11 times what the company makes?
This management team gets paid well to generate no income for the shareholders!
Roger Dick?
They should hire Anthony Weiner
Christy Stoner? Christy might be a stoner but gets paid well to steal tax payer money
Is this your bank?
This place is a disaster, they steal tax payer money and run this place into the ground.
Roger may be a dick but he pays himself $409k a year and won’t pay back your tax payer money, he might be a weiner
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 19, 2011
This is Paul Van Ostenbridge, he took $10MM of your tax payer funded bailout money
He gets paid $295k per year, while he wiped out the stockholders
This clown racked up $48MM in bad loans
Paul, how are you going to pay back the $10MM, you can’t
Atlantic Stewardship Bank Midland Park New Jersey was founded in 1985. The company took $10MM in government bailout funds which it has not repaid. The stock is delisted. For some reason, they are not on the problem bank list.
The company has $683MM in assets with $58MM in equity.
The actual equity is $48MM, as the $10MM in preferred stock from the tax payer is really debt.
The problem loan portfolio is $43MM, with $27MM in non accrual.
They have $43MM in bad loans with $48MM in equity? The non accrual alone could eradicate the equity.
This place is insolvent.
Why aren’t they closed down?
Why aren’t they on the problem bank list at least?
Net income was $683k in FY10.
How are they going to pay back $10MM?
At least the executives have taken care of themselves.
Paul Van Ostenbridge made $295k
Claire Chadwick made $155k
John Han made $135
Julie Holland made $135
Not bad pay for running this thing into the ground.
Hey Mark, how about paying the tax payer back then $10MM.
You pay yourself $295k to make $43MM in bad loans and wipe this place out.
How about using some of salary to pay back the tax payer the $10MM you stole.
This team has done a great job of stewardship over this place.
How about using that tithing cash to pay back the money you stole from the tax payer.
This place is bankrupt.
Do you have money in this bank?
They are the stewards of make bad loans.
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 19, 2011
This is Barry Uzel the CEO, took $9MM of your money which he won’t pay back
Don’t worry, Barry also wiped out the stockholders as the stock is de listed
Barry got the bank on the problem bank list
Barry lost this bank $9MM in the last 2 years, how is going to pay back the $9MM?
Barry makes $618k including a country club membership and a car allowance
No only is he good at losing money, he racked up $28MM in bad loans
National Bank of California Los Angeles was founded in 1982. The company took $10MM in tax payer funded bail out money which it has decided to not repay. The company is on the problem bank list. The company stock is also delisted.
They have $381MM in assets with $42MM in equity.
The actual equity is $32MM, as the $10MM in bailout money is debt, not preferred stock.
The company has $28MM in problem loans.
The bank has $28MM in problem loans with only $32MM in equity!
This place is bankrupt.
Why hasn’t it been shut down?
Net income was ($5MM) in FY10 and ($3MM) in FY09.
How are they going to pay the tax payer back $10MM, they can’t and they don’t seem to care.
The executives won’t pay the tax payer back, but they are paying themselves well to run this thing into the ground.
Barry Uzel made $618k
Richard Ritte made $322k
Scott Peterson made $270k
Don’t worry, the compensation includes club fees and car allowances. That is a good use of tax payer money.
So Barry Uzel made $618k, to lose $5MM, wipe out this company and he gets $10MM in tax payer money, which he won’t pay back.
Barry Uzel bankrupted your bank .
Only in America!
Is this your bank? Don’t take your money out, Barry needs it for his country club fees.
Then again, he has $10MM in tax payer money to pay for club fees.
Tags:deliquency, executives paid despite non payment of bailout fund, FDIC Bankrupt, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 19, 2011
This Bob Taubenheim
Bob took $10,000,000 in tax payer money which he won’t pay back
Bob you lost $3,622.000 in Q4 2011 a loan
Bob how the F$$ck are you going to pay back the tax payer the $10,000,000 you stole?
These clowns are sitting on $15,000,000 junk loans
The efficiency ratio is 82%, these idiots lose money just showing up for work
This bank survived the Great Depression, will it survive this clown?
Bob wiped out a 100 year old bank
Take your money out of this disaster
This bank took $10MM in bailout money which it won’t pay back
This is Scot Thompson, why is smiling? Scot stole $10,000,000 of your money
Check out Bill Weillend
Mid-Wisconsin Bank Medford Wisconsin was founded in 1868. The company took $10MM in tax payer funded bailout money which it has decided to not repay.
The company has $505MM in assets with $46MM in equity.
The actual equity position is $36MM, when the $10MM government is categorized as debt, which it is.
The bank has $20MM in problem loans.
With $36MM in equity and $20MM in problem loans, the situation is not good. Especially, when $16MM are on non accrual.
Net income was $2MM in FY10 and ($2MM) in FY09.
How long will it take them to pay the tax payer back $10MM?
Tags:insolvent, Non repayment of Gov. bailout funds
Posted in Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 19, 2011
Might as well trust this guy with your money, can’t be any worse than these clowns
Mid Penn Bank Millersburg Pennsylvania was founded in 1868. The company took $10MM in government bailout money which it hasn’t paid back.
The company has $637MM in assets with $48MM in equity.
The actual equity is $38MM w,en the tax payer funded money is backed out of the equity position.
The problem loan portfolio is $21MM.
So they have $21MM in problem loans with $38MM in equity, that is not a good situation. The non accrual alone could severely erode the equity position.
How and when are they going to pay the tax payer back the $10MM?
Tags:Non repayment of Gov. bailout funds, real estate
Posted in Banking, Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 19, 2011
Colorado East Bank Lamar Colorado was founded in 1905. The company took $10MM in tax payer funded bailout money, which it has neglected to pay back.
The company has $858MM in assets with $90MM in equity.
The actual equity is $80MM, as the $10MM in bailout money is really debt.
The problem loan situation is incredible with $55MM in bad debt.
They have $55MM in bad debt, with $80MM in supposed equity, that is scary.
Why aren’t they on the problem bank list?
The non accrual alone of $43MM could wipe out the equity base.
The company website provides non financial information or management information.
That is probably good because this whole thing is a disaster.
How are they going to pay back the tax payer $10MM?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 18, 2011
Check out the new site
capital2risk.com
This is David Bradley sticking it into you, no lube
First Federal Savings Bank of Iowa Fort Dodge Iowa took $10MM in tax payer funded bailout money, which they haven’t repaid.
The company has $473MM in assets and $35MM in equity.
The actual equity is $25MM, as $10MM is actually tax payer funded debt.
The company has $11MM in problem loans.
Having $25MM in equity and $11MM in problem loans is not a good situation.
How are they going to pay back $10MM.
At least the executives are taken care of.
David Bradley made $271k
Thomas Chalstrom made $176k
Pretty good pay for Iowa.
Actually good pay for getting $10MM in tax payer funding and racking up $11MM in bad loans.
Tags:Non repayment of Gov. bailout funds, real estate
Posted in Banking, Insolvent, Non repayment of Gov. bailout funds, under capitalized | 1 Comment »
May 18, 2011
This is Bob Jones the CEO
Bob stole $10,000,000 in tax payer funding which he won’t repay
This dope is sitting on $24,000,000 in junk loans with only $47,000,000 in equity
Bob you got problems
Here is Bob he doesn’t seem worried about paying the tax payer back the $10,000,000 he stole
It doesn’t look like Bob is missing a meal on the tax payer dime
The Texas ratio is 75%
This is one of the the worst banks in the state
Do you have money with Bob Jones? You are Jonesing?
Bob has an impressive selection of vacant land for sale
United Bank Atmore Alabama was founded in 1904. The company took $10MM in tax payer funded bailout money which it hasn’t repaid.
They have $466MM in assets and $45MM in stated equity.
The actual equity is $35MM when the tax payer funded bailout money is treated as debt, of which it is.
They have $28MM in problem loans.
Having $35MM in equity with $28MM in problem loans is not good. The non accrual of $25MM will wipe out the equity.
Net income was ($605k) in FY10 and ($3.7MM) in FY09.
So how are they going to pay back $10MM?
Check out the website, they have quite a collection of vacant land for sale.
Tags:executives paid despite non payment of bailout fund, FDIC Bankrupt, insolvent, Non repayment of Gov. bailout funds, problem bank list
Posted in Banking, Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 18, 2011
Hire this guy as CEO, he wouldn’t cheat the tax payer or on his wife
Mission Valley Bank Sun Valley California took $10MM in tax payer bailout funds, which they have neglected to repay. The stock is delisted.
They have $254MM in assets with $33MM in equity.
The equity is actually $23MM, as the $10MM in tax payer funds is debt not equity.
They have $9MM in problem loans which is 39% of the capital base.
They should be on the problem bank list.
Net income was $1MM in FY10 and ($54k) in FY09
At this rate how long will it take them to pay back the $10MM?
They are on a mission all right, to wipe out the rest of the company equity.
Tags:executives paid despite non payment of bailout fund, FDIC Bankrupt, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in Banking, Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 18, 2011
This is Gary Gall in the middle, the CEO
This place is on the problem bank list
It is also one of the worst capitalized banks in the country
This disaster should be bankrupt in no time
Citizens Bank of Northern California Nevada City California was founded in 1995. The company took $10MM in tax payer supported bailout funds which they haven’t repaid. The company is on the problem bank list for weakness in management, earnings, capital and liquidity. The stock is delisted. For some reason the cancelled the annual shareholder’s meeting. It sounds like they had to extend the capital raising period. Who in their right mind would put money into this place. The Texas ratio is 134%.
The company is also on the list of under capitalized banks, the tier 1 risk based capitalization is 7.71%.
The company has assets of $328MM and equity of $11MM.
The actual equity is $1MM, as the $10MM in tax payer funding is debt not equity.
The problem loans this bank has is astounding. They have $43MM in bad debt.
They have $10MM in equity and $55MM in problem loans?
This place is bankrupt.
Why haven’t they been shut down”
Net income was ($5MM) in FY10 and ($12MM) in FY09.
They lost another $4.7MM in Q2 2011.
This management team has wiped out virtually all the equity in this bank.
Do you have money in this bank?
The company doesn’t want to put there financial information on the website.
Gary you got Gall, the CEO , took tax payer money which he refuses to repay.
This guy should be wacked.
Gary Gall wiped out this place.
Tags:executives paid despite non payment of bailout fund, FDIC Bankrupt, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | 2 Comments »
May 18, 2011
This is Jon Prescott the CEO, he took $10MM of tax payer funded bailout money
Jon, they want there money back
Katahdin Trust Patten Maine was founded in 1918. The company received $10MM in tax payer funded bailout money, which it has neglected to repay.
The company has $508MM in assets and $58MM in equity.
Net income was $4MM in FY10, $3MM in FY09 and $2MM in FY08.
Why haven’t they used these funds to repay the tax payer?
Tags:deliquency, Non repayment of Gov. bailout funds
Posted in Banking, Non repayment of Gov. bailout funds | Leave a Comment »
May 18, 2011
State Bank Northwest Spokane Washington was founded in 1902. The company took $10MM in tax payer funded bailout funds which it won’t repay. For some reason this place is not on the problem bank list. The Texas ratio is 53%.
The company has $99MM in assets and $10MM in equity.
So, the $10MM in equity is all tax payer funded bailout money.
This bank is being propped up by the tax payer.
100% of the equity is tax payer funded.
Why wasn’t this bank closed.
Why isn’t it it on the problem bank list.
Net income was $39k in FY10 and ($1.1MM) in FY09.
How will this bank repay the tax payer $10MM, they can’t.
Do you have money in this bank?
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 18, 2011
Hire her, she can’t be any worse than Kenneth Chevron
First Community Bank of America Pinallas Park Florida was founded in 1988. The company took $10MM tax payer funded bailout money, which it failed to repay. The government forgave $7.2MM of these funds, which they called a discount, resulting in the tax payer losing 70% of the bailout funds. The Texas ratio was 118% making one on the worst banks in Florida.
The company had $470MM in assets and $28MM in equity.
The bank has $44MM in problem loans.
The company has $44MM in bad loans with $28MM equity.
This bank is bankrupt.
This place should be shut down, not forgiven $7.2MM in tax payer money!
Net income was ($19MM) in FY10, ($5MM) in FY09 and ($3MM) in FY08.
This bank has demonstrated no ability to repay the tax payer.
The executives haven’t been effected, despite wiping out this bank and taking tax payer funds.
Kenneth Chevron made $370k
Scott Boyle made $160k
Ralph Cumbre made $126k
Clifton Tufts made $150k
So this team was paid these salaries, while they government forgave the bank $7.2MM.
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list
Posted in Banking, executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 18, 2011
This is Steve Heitel on the right
He took $11MM on you tax payer bailout funds, which he can’t pay back
He lost an average on $3MM per year over the last 3 years, at that rate how long will it take to repay $11MM
Don’t worry, he also wiped out all the stockholders, the stock is delisted
Why is Steve smiling? he wiped this place out in record time
Presideo Bank San Fransisco California was founded in 2006. The bank took $11MM in tax payer funded bailout money, which they decided to not repay. The stock is delisted.
The company has $241MM in assets and $39MM in equity.
The net income was ($3MM) in FY07, ($4MM) in FY08, ($3MM) in FY09 and finally they made $901K in FY10.
This place made money in one year since they opened.
How long will it take them to pay back the tax payer $11MM, a decade if they are lucky!
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 17, 2011
That is Bruce Lammars on the right, the president
He took $11MM in bailout money, which he won’t repay
Then again, Bruce hasn’t even paid interest on these funds since 8/09
Bruce also got this place on the problem bank list, they were citied for “weak management”, shocking
He racked up $59MM in bad loans
So why is this guy getting an award?
Ridge Stone Bank Brookfield Wisconsin was founded in 1995. The company took $11MM in tax payer funded bailout money, which it hasn’t repaid. As a matter of fact, they haven’t even paid interest on these funds since 8/09. Interesting, the bank doesn’t have to pay interest on it’s own debt. They are on the problem bank list as they were cited for having weak management, asset quality, capital and liquidity. The Texas ratio is 83%, wow.
The company has $463MM in assets with $49MM in equity.
The actual equity is $38MM when the $11MM of so called preferred stock is back out, as it is actually debt.
The problem loan portfolio is profound. The have $59MM in problem loans.
They have $59MM in problem loans with $38MM in equity. The non accrual is $43MM, this alone will wipe out the equity position.
This bank is bankrupt.
Why isn’t this thing closed down.
How are they going to pay back the $11MM, they can’t.
Their motto “making success happen”?
They might want to change their motto, this company doesn’t look like success
Tags:default, deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 17, 2011
A future CEO, rosemary’s baby can’t be worse than John Presley at $263k a year
First Capital Bank Glenn Allen Virginia was founded in 1998. The company took $10MM in tax payer funded bailout money that it hasn’t repaid, in fact they probably can’t pay it back. For some reason they aren’t on the problem bank list, believe me this thing has problems.
The bank has assets of $536MM with stated equity of $43MM.
The actual equity is $33MM, as the $10MM in preferred stock is actually debt owed to the tax payer.
The company has $26MM in problem loans.
They have $26MM in problem loans and $33MM in equity.
This bank is insolvent.
Why aren’t they closed down.
Why aren’t they on the problem bank list. Maybe Virginia has already hit it’s quota. This is a tough state in which to get on the problem bank list, you have to really suck.
Net income was ($2.8MM) in FY10 and ($195k) in FY09.
So how are they going to pay the $10MM.
They have quite an array of vacant land they are trying to sell, maybe they can give that back to the tax payer.
Rest assured the executives aren’t bearing the brunt of the disaster they caused.
John Presley made $263k
Robert Watts made $248k
Gary Armstrong made $195k
That is good pay for destroying a company so quickly.
They might want to change the name, capital is not there strong point.
How about First vacant lot.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds | 2 Comments »
May 17, 2011
Take a look at the new site
CAPITAL2RISK.COM
This disaster lost $9,500,000 in Q4 2011
This bankrupt bank has $35,000,000 in bad loans and $16,000,000 in equity, this thing is bankrupt
This bank stole $10,000,000 in tax payer money
Stonebridge Bank West Chester Pennsylvania was founded in 1999. The company took $10MM in tax payer funds which it neglect to pay back. For some reason they aren’t on the problem bank list, let me tell you, this place has problems.
In Q3 2011 the equity position went from $25MM to $19MM as they lost another $7MM
These clowns wiped out 38% of the remaining equity in 90 days.
The company has assets of $385MM and stated equity of $20MM.
The actual equity is $10M, as the tax payer bailout is debt not equity.
The problem loans are astonishing. The have $43MM in problem loans.
So, they have $56MM in problem loans with only $10MM equity.
This place is beyond bankrupt.
Why haven’t they been shut down?
Why aren’t they on the problem bank list?
Net income was ($4MM) in FY10 and ($3MM) in FY09.
They lost another $5.8MM in Q2 2011.
So how are they going to pay the tax payer back $10MM. They can’t.
They haven’t posted the financial statements on the website since Q2 FY10, do you think this might be a problem?
This place is a disaster, it didn’t take this management team long to run this thing into the ground.
Do you have money in this place, you might want to jump off the bridge.
Stoned bridge?
Has anyone seen the bridge?
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in Banking, executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | 13 Comments »
May 17, 2011
Another fine candidate
Brotherhood Bank & Trust Kansas City Kansas was founded in 1924. The bank accepted $10MM in tax payer funded bailout funds which it still hasn’t returned.
The bank has $505MM in assets with $52MM in stated equity.
The actual equity position is $42MM when the tax payer debt is backed out.
The company has problem loans of $17MM which could erode the equity base.
Net income was ($1.6MM) in FY10 and ($6MM) in FY09.
So how are they going to pay the $10MM back?
Tags:deliquency, Non repayment of Gov. bailout funds
Posted in Banking, Non repayment of Gov. bailout funds | Leave a Comment »
May 17, 2011
This is Bob Malone, the president
Bob took $11MM in bailout money which he won’t pay back
Steele Street Bank Denver Colorado was founded in 2003. The company took $11MM in tax payer bailout money which it has neglected to pay back.
The company had assets of $364MM and equity of $35.
Net income was $4MM in FY10 and $1MM in FY09.
Why haven’t they used these funds to repay the tax payer?
They might want to change the name to Steal Street Bank.
Tags:Non repayment of Gov. bailout funds
Posted in Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 17, 2011
Not a bad choice to run the company
Midwest Bank of Wester Illinois Monmouth Illinois was founded in 1870. The company took $11MM in tax payer funded money which is hasn’t paid back.
The company has assets of $283MM and equity of $44MM
The equity position is actually $33MM when the preferred stock, which is actually debt is backed out.
The company had net income of $1MM in FY10.
Based on this financial performance how long will it take them to pay back $11MM, do the math.
Tags:deliquency, Non repayment of Gov. bailout funds
Posted in Banking, Non repayment of Gov. bailout funds | Leave a Comment »
May 17, 2011
Here is Mike Dohran the CFO
Mike, the tax payer wants the $11MM back
Pacific Coast Banker’s Bank San Francisco California was founded in 1997. The company took $11MM in tax payer funded bailout money which they have decided to not repay. The Texas ratio is 32%.
The company has $532MM in assets with $45MM in stated equity.
The actual equity position is $34MM, when you back out the tax payer funded preferred stock, which is debt not equity.
They have $20MM in problem loans all of which are on non accrual.
So, they have $20MM in problem loans with $34MM in equity, the non accrual could easily wipe out the equity position.
This place could be technically insolvent.
Net income was $2MM in FY10, why wasn’t this money used to pay back the tax payer?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in Banking, executive compensation, Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 17, 2011
Take a look at the new site
capital2risk.com
Texas Community Bank The Woodlands Texas was founded in 2002. The company took $11MM in tax payer funded bailout money which the have decided to not repay. The are on the problem bank list for deficient commercial real estate lending. The Texas ratio is 95%, making it the 6th worst bank in Texas.
These dopes lost over $5,000,000 in Q4 2011 alone
Where is the $11,000,000 you dumb ass TEXANS stole from the tax payer?
This place has $40,000,000 in bad loans and only $25MM in equity
The F$$cking Texas Community Bank is BANKRUPT!
The company has assets of $374MM and stated equity of $35MM.
The actual equity is $24MM as the $11MM in preferred stock is actual debt owed to the tax payer.
The problem loan situation is immense. The have $33MM in problem loans, $29MM of which are on non accrual.
So, they have $33MM in problem loans with $24MM in equity.
This place is bankrupt.
Why hasn’t ti been shut down?
Net income was ($3MM) in FY10.
Taking care of business?
How are they going to pay back the $11MM? They aren’t.
They forgot to publish the financial statements on the website, it’s o.k. it’s not hard to find, I just gave it to you.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in Banking, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 17, 2011
This Kim Saunders, she took $12MM in bailout money that hasn’t been repaid
Don’t worry she makes $267k a year
The whole bank made $339k last year, she almost makes more than the whole bank
Mechanics & Farmers Bank Durham North Carolina was founded in 1908. The company took $12MM in tax payer funded bailout money which it has neglected to pay back. For some reason, this place is not on the problem bank list. The Texas ratio is 44%.
The company has assets of $312MM with equity of $36MM.
The actual equity position is $24MM, as the so called preferred stock is actually debt they owe to the tax payer.
The bank has $22MM in problem loans with $24MM in equity, that is a problem. The non accrual of $18MM alone could wipe this thing out.
Why isn’t this place on the problem bank list?
The net income was $339k in FY10 and $358k in FY09.
At this rate, how are they going to pay back the tax payer $11MM, it should only take 30 years or until 2041.
At least the executive compensation has been strong.
Kim Saunders made $267k
Lyn Hittle made $169k
Wow, these two make as much as the whole bank combined.
That is good pay for wiping out a 105 year old institution.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in Banking, executive compensation, Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 17, 2011
This is William Latoff, he took $11MM in bailout funding, which hasn’t been paid back
Don’t worry, William makes $488k a year
DNB First Downington Pennsylvania was founded in 1861. The company took $11MM in tax payer funded bailout money which it has decided to not repay. At least they were able to pay dividends to the stock holders, as they neglected to repay the tax payer.
The company has assets of $602MM with equity of $45MM.
The company had net income of $3MM in FY10 and $1MM in FY09.
Why weren’t these funds used to pay back the $12MM?
Fortunately, the executives still get paid.
William Latoff made $488k
William Heib made $246k
Albert Melfi made $225k
Tax payer 0
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in Banking, executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 17, 2011
This is James Young, he took $12MM in bailout money which hasn’t been repaid
He makes $453k per year
The bank made only $315k in FY10, at this rate how long will it take them to pay back $ the $12MM, try 20 years
James makes more than the whole bank
Take a look at the website, James some attractive vacant land for sale
Citizens Trust Bank Atlanta Georgia was founded in 1921. The company took $12MM in tax payer funded bailout money which they haven’t repaid. At least they had enough funds to pay a dividend to the shareholders.
The company had $387MM in assets and $45MM in equity.
The actual equity position is $33MM, when you back out the tax payer funded preferred stock, which is debt that is not being repaid.
The company has $20MM in problem loans.
Having $20MM in problem loans and $33MM in equity is not a great situation, the non accrual of $15MM alone could strain the equity base.
How come this bank is not on the problem bank list?
Net income was $315k in FY10 and $715k in FY09.
At this rate, how long will it take to pay the $12MM back to the tax payer, try 20 years.
The executives actually get paid more than the company makes.
James Young made $453k
Cynthia Day made $258k
Samuel Cox made $181k
This team does well for generating no income for the bank.
Take a look at the website, they have a good selection of vacant land and abandoned property for sale.
Are you trusting these citizens?
Tags:executives paid despite non payment of bailout fund, FDIC Bankrupt, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds | 2 Comments »
May 16, 2011
He can’t be any worse than the current management team
Queensborough Bank & Trust Louisville Georgia was founded in 1902. The company took $12MM in tax payer funded bailout money which they don’t seem to want to pay back. For some reason they aren’t on the problem bank list, believe me this place has problems. They may want drop the word trust from their name. How about rebranding this thing as Queensborough Bankrupt, a bank you probably don’t want to trust.
The company has $930MM in supposed “assets” with $73MM in stated equity.
The actual equity is $61MM when you back out the tax payer unpaid funds.
Check out the problem loan portfolio, it is staggering. They have $79MM in bad loans?
So, they have $61MM in equity with $79MM in bad loans.
Do you think this place is insolvent?
I guess that depends on what your definition of insolvent is.
Well the FDIC is insolvent, so maybe they haven’t defined insolvent yet.
Why isn’t this place closed down.
Then again, why aren’t they on the problem bank list.
That is probably because they are in Georgia and the Texas ratio is only 48%.
Net income was ($6MM) in FY10, how are they going to pay back $12MM at this rate?
Check out the website, they have 45 properties for sale, do you need vacant land in Georgia?
It seems like all the properties are located near a church.
Is this place a real estate broker or a bank?
One thing they are is bankrupt.
Take a look, you can get their financial statements by going into a branch. It looks like I provided it for you right here.
Do you have money in this place?
For some reason, they won’t tell who the management team is.
Would you bank and have trust in this thing?
Tags:default, deliquency, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in Banking, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | 2 Comments »
May 16, 2011
This is Tom McGraw the CEO, he took $12MM in bailout money, which he hasn’t paid back
Don’t worry, the shareholders got paid dividends
Tom made $271k last year
First National Bank of Northern California was founded in 1963. The bank took $12MM in tax payer funded bailout money which they have chosen to not repay. Fortunatley, they had money to pay dividends to the investors but couldn’t pay the tax payer back from the money they took?
First National Bank of Northern California
Board of Directors
First National Bank of Northern California; Board of Directors
Standing: |
Edward Watson; Ronald Barels; Thomas Atwood; Chief Operating Officer, Anthony Clifford; Merrie Turner Lightner; Mike Pacelli |
Seated: |
Chief Executive Officer, Thomas McGraw; Chairwoman of the Board, Lisa Angelot; President, Jim Black |
The company has assets of $714MM with equity of $80M.
The actual equity is $68MM, as the so called preferred stock is actually debt which they have decided to not repay.
The bank has $35MM in problem loans.
So they have $35MM in bad loans with $68MM in equity, the non accruals are $30MM which could wipe out the equity position.
This place is probably technically insolvent.
This is Tony Clifford, the COO he makes $303,000
Why aren’t they on the problem bank list?
Net income was $2.8MM in FY10, why didn’t they use these funds to repay the tax payer?
They are probably using the funds to pay the executives.
Thomas McGraw made $271k
Jim Black made $349k
Anthony Clifford made $303k
David Curtis made $281k
Good pay for wiping out the equity position.
Regarding the $12MM, the tax payer is feeling like jumping off the Golden Gate bridge
Tags:executives paid despite non payment of bailout fund, FDIC Bankrupt, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 16, 2011
Blue Ridge Bank and Trust Independence Missouri was founded in1958. The bank took $12MM in tax payer funded bailout money, which it decided to not repay.
It has assets of $465MM and equity of $40MM.
The actual equity is $28MM when the tax payer funding is backed out.
The bank has problem loans of $18MM.
Having $18MM in bad debt with $28MM in equity is not a good situation, the non accrual of $14MM alone could shatter the equity base.
They had net income of $1MM in FY10 and ($13MM) in FY09.
So how are they going to pay back the $12MM?
For some reason they are not on the problem bank list, this place does have some problems.
Tags:deliquency, FDIC Bankrupt, Non repayment of Gov. bailout funds, real estate
Posted in Banking, Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 16, 2011
A potential investor?
Peoplessouth Bank Colquitt Georgia was founded in 1973. They took $12MM in tax payer money of which it has made no effort to repay.
The bank has assets of $559MM with stated equity of $45MM.
The actual equity is $33MM when the tax payer funded prefered stock is backed out.
They have $19MM in problem loans.
Having $19MM in problem loans and $33MM in equity is not a good situation.
Net income was $2MM in FY10 and $4MM in FY09.
How come they didn’t use these funds to pay back the tax payer?
Why aren’t they on the problem bank list?
Probably because their Texas ratio is only 59%, which is not bad for Georgia.
Maybe Georgia has already filled its quota of bad banks.
Take a look at the website, this place has more real estate for sale than Caldwell Banker.
If you are in the market for vacant land in Georgia, you should call this place.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 16, 2011
This is Chris Annas the CEO he took $12,000,000 in tax payer money
Meridian Bank Devon Pennsylvania was founded in 2004. The company took $12MM in tax payer funded bailout money, which it doesn’t want to pay back. They were able to pay a dividend to the shareholders, but not repay the tax payer?
The company has $368MM in assets and $31MM in equity.
The actual equity is $19MM, as $12MM is the tax payer debt that is owed.
The banks problem loan portfolio is $14MM.
So, they have $14MM in bad debt with $19MM in equity, that is a little scary.
Why in’t this place on the problem bank list?
Net income was $1MM in FY10.
At this rate, how long would it take them to pay back $12MM, how does 2023 sound.
This was only the second dividend, they have paid since 2004, great investment.
Then again, shouldn’t they be paying back the tax payer loan instead?
Tags:deliquency, executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in Banking, Non repayment of Gov. bailout funds | Leave a Comment »
May 16, 2011
Take a look at the new site
capital2risk.com
This is C Douglas Richard he took $12MM in tax payer money, which hasn’t been repaid
At least he made $303k last year
Community Bank Staunton Virginia was founded in 1928. The company took $12MM in tax payer funded bailout money which it has decided to to not pay back. the Texas ratio is 44%.
The bank has assets of $541MM and equity of $44MM
The actual equity is $32MM as the $12MM in tax payer money is debt not prefered stock.
The company has $18MM in problem loans, which could severely impact the equity position.
Net income was $3MM in FY10 and ($6MM) in FY09.
How come they didn’t use these funds to repay the tax payer?
It looks like they used them for the executive compensation instead.
The executive compensation was not comprised during this debacle.
P. Douglas Richard made $303k
Norman Smiley made $187k
R. Jerry Giles made $156k
It seems like if you are a lawyer or a banker in the south, you have to stick a letter in front of your first name. I appears as though you get paid more if you do that.
Tags:deliquency, executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in Banking, executive compensation, FDIC Bankrupt, Non repayment of Gov. bailout funds | Leave a Comment »
May 16, 2011
This is L Andrew Westbrook he took $12,000,000 in tax payer bailout money which he won’t pay back
Andrew makes $299,000 a year
He is sitting on $18,000,000 in bad loans
The Peoples National Bank was founded in 1986. The company took $12MM in tax payer funded bailout money, which it decided to not return. The Texas ratio is 76%. Why is this place not on the problem bank list?
This disaster is business of the month? They took $12,000,000 in tax payer money.
With $18,000,000 in bad loans, they are the business on the month
The company has $541MM in assets and $52MM in stated equity.
The actual equity is $40MM, as the $12MM in prefered stock is debt owed to the tax payer not equity.
The bank has $13MM in non accrual, which could effectively wipe out another 33% of the equity position.
Net income was ($440k) in FY10.
At this rate, how will they ever pay back the tax payer $12MM? It appears impossible.
Fortunately, the executive compensation was not effected despite this abysmal performance.
Andy Westbrook is third on the right, why is he smiling?
He took $12,000,000 in tax payer money and has $18,000,000 in bad loans
Andy makes $261,000 a year, the tax payer also pays his $6,928 yearly country fees and pays for his car
Riggie Ridgeway made $342k
L Andrew Westbrook made $299k
William West made $237k
I guess if you are a banker or a lawyer in the south, you get to stick an initial in front of your name.
Take a look at the board of directors, 7 of the 15 members have stuck an initial in front of their names?
How does R. Riggie Ridgeway make more than the whole company.
How is Riggie going to pay the taxpayer back $12MM?
I am R. Riggie Ridgeway, I own a mansion and a yacht.
R. Riggie forgot to post the mission statement since 2008.
He forgot to post the annual report since 2009.
R. Riggie forgot to post the quarterly statement since 12/10.
R. Riggie Ridgeway is CEO Emeritus, what does that mean?
This is definitely the Peoples Bank. Thanks to the tax payer.
Tags:deliquency, executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in Banking, executive compensation, Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 16, 2011
These is the Adams family, they took $13MM in bailout money which isn’t repaid
Better call Uncle Fester
Adams Bank & Trust Ogallala Nebraska was founded in 1962. The company took $13MM in tax payer funded bailout money, which they won’t repay.
The company has $512MM in assets with $57MM in equity.
The actual equity is $44MM, when you back out the so called preferred stock
The problem loan portfolio is $8MM, which could severely impact the equity position.
Net income was $2MM in FY10 and $5MM in FY09.
Why haven’t they used these funds to pay back the tax payer?
Have you ever been to Ogallala?
I would take my money out of this disaster
Tags:deliquency, Non repayment of Gov. bailout funds, real estate
Posted in Banking, executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 16, 2011
How about making this hot looking vixon the CEO
Community First Bank Harrison Arkansas was founded in 1997. The company took $13MM in tax payer funded bailout money which they have decided to not repay.
The company has $540MM in assets and $51MM in equity.
The actual equity position is $38MM, when the $13MM in tax payer funded debt is backed out.
The bank has $12MM in problem loans, this could significantly impact the equity position.
The company had net income of $3MM in FY10 and $2MM in FY09.
Why haven’t they used these funds to back the tax payer?
Tags:insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in Banking, Non repayment of Gov. bailout funds | Leave a Comment »
May 16, 2011
Horry County State Bank Loris South Carolina was founded in 1988. The company took $13MM in tax payer funded bailout money, which it has refused to pay back. Then again, it has neglected to pay interest on the funds since 11/10. For some reason the executives still get paid, despite not paying back the taxpayer. The Texas ratio is 70%, not good. The stock is delisted, shocking!
The company has assets of $781MM and supposed equity of $20MM.
The actual equity is $13MM because the so called tax payer funded preferred stock is actually debt.
The problem loan portfolio is $45MM.
The bank has problem loans of $45MM and equity of $17MM.
This bank is bankrupt.
Why aren’t they shut down?
Why aren’t they on the problem bank list, believe me, this place has massive problems.
The net income was ($17MM) in FY10 and ($1MM) in FY09.
They lost another $16MM in Q2 2011, that was a good effort.
The bank lost $23MM in Q3 FY2011 wiping out 78% of the equity. They could be bankrupt be year end.
How are they going to pay the tax payer $13MM? They can’t, they can’t even pay the interest.
Rest assured the executives still get paid well while they are running this place into the ground.
James Clarkson made $243k
Glenn Bullard made $177k
Ron Page made $178k
What do you think, that is good pay for stealing tax payer money and destroying this company.
Check this out, James Clarkson pays himself $243k, he takes $13MM from the tax payer which money, he won’t pay back and doesn’t even pay interest on the money. He runs up $55MM in bad loans, loses $19MM and wipes out the shareholders.
This guy is a savvy.
They do have one thing, a large portfolio of vacant land.
Doesn’t make them bad bankers.
It makes them rich ones.
Hurray for theses bankers.
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in Banking, executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 15, 2011
Southcrest Bank Tyrone Georgian was founded in 1951. The company took $12MM in tax payer bailout funding which it has refused t pay back. The stock is delisted.
The company has $341MM in assets and $30MM in equity.
The actual equity is $18MM, when the $12MM in tax payer money is backed out of equity and is treated as debt.
The company has $50MM in problem loans.
So, they have $50MM in bad loans and $18MM in equity.
This bank is bankrupt.
Why isn’t this place closed down.
Why aren’t they on the problem bank list.
Shocking, the website has no information on their financial condition.
They provide no information on the management team.
This place is a zombie.
Do you have money in this disaster?
Tags:insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 14, 2011
Bank of the Carolinas Mocksville North Carolina was founded in 1998. The company took $13MM in tax payer funded bailout funds which they have neglect to pay back. The Texas ratio is 59%.
They have assets of $534MM and equity of $36MM.
The equity position is actually $23, when the tax payer funded debt is backed out.
The problem loan portfolio is staggering at $31MM.
They have $31MM in bad loans with $23MM in equity.
This place is insolvent.
Why aren’t they closed down. Then again, why aren’t they on the problem bank list?
Net income was ($3MM) in FY10, ($3MM) in FY09 and ($3MM) in FY08. At least they are consistent at losing money.
Take a look, they lost $12MM in Q2 2011!
At this rate, how are they going to pay back the $13MM?
Maybe this place is a non profit.
Thankfully, the executives are well paid for guiding this train wreck.
Robert Marziano made $298k
Michael Larowe made $260k
Harry Hill made $198k
That’s good pay for running this thing into the ground, in a decade. Imagine what they would pay themselves if they made money.
Mocksville, that is a good location for this place. I would hate to mock this company.
The average pay in this town is $27,000.
Robert Marziano makes in one year what the average person in this town make in 11 years, yet he causes this company to go bankrupt ,
Wow, this company pays this guy $300K a year to lose $3MM a year and stealing $13MM in tax payer money!
This guy is making a mockery of this company as well as the tax payer.
Do you have money in this mockery?
Tags:default, executives paid despite non payment of bailout fund, FDIC Bankrupt, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in Banking, executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 14, 2011
Ronald Martin is the CEO, he took $13MM in bailout funding
He made $354k last year
Oak Valley Bank Oakdale, California was founded in 1991. The company took $13MM in tax payer funded bailout money, which they have neglected to pay back.
They have $529MM in assets and $64MM in equity.
The actual equity is $51MM when the tax payer funded debt is backed out.
The problem loan portfolio is $15MM, which could put a dent into the equity situation.
Net income was $3.7MM in FY10 and $1MM in FY09. At this rate how long will it take them to pay the taxpayer back? Then again, why didn’t use funds to pay back the tax payer.
Why did they pay dividends and not the tax payer debt.
The executive pay has not been compromised.
Ronald Martin made $354k
Christopher Courtney made $277k
Richard McCarty made $230k
Michael Rodriques made $177k
Tax payer 0
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 14, 2011
First Bank Strasburg Virginia was founded in 1907. The bank took $14MM in tax payer funded bailout money which it hasn’t paid back.
The company has assets of $544MM and equity of $48MM.
The actual equity position is $34MM when the tax payer funded debt is backed out.
The bank has $18MM in problem loans, which could severely erode the equity base.
Net income was ($4MM) in FY10 and $1MM in FY09, how are they going to pay back $14MM?
However, the executives continue to get paid well.
Harry Smith made $289k
M. Shane Bell made $187k
Dennis Dysart made $172k
I guess you are a lawyer or banker in Virginia, you get to put a letter in front of you name.
Harry, the tax payer wants their $14MM back, where is it?
Check out the website, look under company info., resources, locations, all have no info.
The tax payer is never getting these funds back.
Do you have money in this bank?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 14, 2011
Thomas Winfree took $15MM of your tax payer funded bailout money, which he won’t pay back
He gets paid $236K a year and got this disaster on the problem bank list
This clown racked up $33MM in bad loans
Winfree? The tax payer is not winning and it is not free, this fat cat banker should be incarcerated
Thomas, the tax payer wants the $15MM back
Village Bank Midlothian Virginia was founded in 1999. The company took $15MM in taxpayer funded bailout money, which it decided to not pay back. For some reason they are not on the problem bank list but rest assured, this place has problems. The Texas ratio is 56%.
The company has assets of $591MM and stated equity of $48MM.
The actual equity position is $33MM after you back out the preferred stock, which is debt owed to tax payer not equity.
The problem loan portfolio consists of $16MM on loans 30-90 days past due with $17MM on non accrual.
Hold on, that equates to $33MM in problem loans with only $33MM in equity.
This place is technically insolvent, the non accruals alone could wipe them out.
The bank had net income of $549MM in FY10, ($13MM) in FY09 and $468k in FY08.
Based on this financial performance, how long will it take them to the tax payer back $15MM? About 30 years, it doesn’t look like they will be around that long.
It least the executives get paid well for destroying this place in record time.
Thomas Winfree made $236k
C. Harril Whitehurst made $207k
Raymond Sanders made $202k
I guess down south if you are a lawyer or a banker you get to slap a letter in front of your name to make it official.
It didn’t take this team long to bankrupt this place.
Thomas Winfree, he wins $236k for destroying this company and he gets $15MM in free tax payer money. Now that is a Winfree!
Look on the bright side, they have some attractive vacant lots and residential land developments for sale.
Do you have money in this bank?
If you are a tax payer Thomas Winfree is stealing your money and has no intention of paying it back
This guy is illegal
Tags:deliquency, executives paid despite non payment of bailout fund, FDIC Bankrupt, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in Banking, executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds | 2 Comments »
May 14, 2011
This is Bob Atwell, he took $15MM in TAARP money
The bank made an average of $163k a year, in the last 3 years
At this, how long will it take to pay back $15MM, how about 90 years!
Nicolete Bank Green Bay Wisconsin was founded in 2000. The company took $15MM in tax payer funded bailout, to prop up their balance sheet. They have decided to not repay these funds.
The company has assets of $674MM and equity of $65MM.
The actual equity position is $50MM, as the $15MM in prefered stock is debt that they haven’t paid back to the tax payer.
The problem loan portfolio is $19MM.
Having $19MM in bad debt with $50MM in equity is not a great scenario.
Net income was $125k in FY10, $175k in FY09 and $189k in FY08.
Based on this financial performance, how long would it take them to pay back $15MM?
How about a 120 years!
That was a good investment by the tax payer.
Even Brett Farve couldn’t save this place.
Why aren’t they on the problem bank list.
Tags:Non repayment of Gov. bailout funds, real estate
Posted in Banking, Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 13, 2011
Grand South Bank Greenville South Carolina was founded in 1988. The company took $15MM in tax payer funded bailout money that it has neglected to repay. The stock was delisted.
They have $362MM in assets with $43MM in stated equity.
The actual equity position is $28MM when you back out the so called preferred stock, which is debt not equity.
The company has $10MM in problem loans.
Net income was (519K) in FY10 and $447K in FY09.
So how are they going to pay the tax payer the $15MM back?
Based on the FY09, they should have it paid back in 33 years!
That is a good use of tax payer money.
Tags:deliquency, FDIC Bankrupt, Non repayment of Gov. bailout funds, real estate
Posted in Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 13, 2011
Check out the new site
capital2risk.com
That is Linda Nahra the CEO on the right, she took $15MM in bailout funds
She makes $307k a year
The bank has $109MM in bad loans, with only $46MM in equity
Hold on, why is she giving a check for $50k away, while she owes the tax payer $15MM
Community West Bank Goleta California was founded in 1989. The company took $15 in tax payer funded bailout money that they have decided to not return. For some reason, they are not on the problem bank list. Maybe not paying back the government is not a problem!
The company has assets of $667M and stated equity of $61MM.
The equity position is actually $46MM, as the tax payer funds are debt not preferred stock.
Check this out, the problem loan portfolio is immense. They have $22MM of loans that are 30-90 days past due, there are an incredible $87MM on non accrual.
So, they have $109MM in bad loans with only $46MM in equity.
This place is bankrupt.
Why hasn’t the disaster been shut down.
Then again, why aren’t they on the problem bank list?
Good thing we have those regulators.
Net income was $1MM in FY10 and ($6MM) in FY09.
So how are they going to pay the tax payer back $15MM, it’s not happening.
At least the executives don’t have a problem paying themselves.
Linda Nahra made $307k
Charles Baltuskonis made $240k
Richard Fauor made $222k
Maybe they used the tax payer funds to pay their salaries.
So the company makes a $1MM and they pay themselves $769k , for running this place into the ground!
Do you have money in this bank, they are bankrupt.
Tags:executives paid despite non payment of bailout fund, FDIC Bankrupt, insolvent, Non repayment of Gov. bailout funds, problem bank list
Posted in Banking, executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 13, 2011
This is Charlie Funk with the green tie, he took $15,000,000 in bailout money, which he won’t pay back
Why is he smiling? He makes $429,000 a year and the tax payer him $15,000,000
Do you have money in this bank? They have $57,000,000 in bad loans
Midwestone Bank Iowa City Iowa was founded in 1934. The company took $15MM in tax payer funded bailout money, which they have decided to not repay.
The company has $1.5B in assets with $142MM in stated equity.
The actual equity is $125MM as the $15MM in tax payer funding is actually debt not prefered stock,
The problem loan portfolio is significant $57MM.
So, they have $57MM in bad debt, with $125MM in equity. The problem loans could severely impact the equity position.
The company had net income of $9MM in FY10 and $3MM in FY09.
So, why didn’t they pay back the tax payer?
Fortunately, the executive pay was not impacted.
Charles Funk made $429k
Gary Ortale made $304k
Kent Jehle made $333k
Susan Evans made $273k
That is pretty good pay for Iowa, maybe they are using the tax payer funding to pay these salaries?
Do you have money in this bank?
So Chuck Funk pays himself $429k to take $15MM from the tax payer, which he had decided to not pay back.
Pay Chuck and not the tax payer!
Funky
So this bank pays Chuck Funk to run this place into the ground.
Chuck Grand Funk Rail Roading the tax payer
Is this your bank?
Chuck wants more of your money.
Tags:default, deliquency, executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in Banking, executive compensation, FDIC Bankrupt, Non repayment of Gov. bailout funds | 2 Comments »
May 12, 2011
The is the CEO Mike Middleton, he took $16MM in TAARP
He makes $529k a year
Community Bank of Waldorf Maryland was founded in 1950. The bank took $16MM in tax payer funded bailout money, which it has decided not to repay.
The company has $885MM in assets and $71M in equity.
The bank has $16MM in problem loans.
Net income was $3MM in FY10 and $2MM in FY09.
So why haven’t they used this money to the tax payer back?
At least the executives were well paid.
Michael Middleton made $529k
William Pasenelli made $441k
Gregory Cockerhan made $346
Maybe they are using the tax payer money to pay these salaries.
With this kind of tax payer money, these boys are crashing at the Waldorf.
Call Michael Middleton, where is the $16MM you stole from the tax payer?
How about putting this guy in jail!
This guy is a criminal, stealing tax payer money and paying himself $529k to bankrupt this place.
Take your money out of this disaster.
Tags:deliquency, executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
May 12, 2011
Community Bank of Tri-County Waldorf, Maryland was founded in 1950. The company took $15MM in tax payer funded bailout money and has decided to not repay it. Though, they do pay themselves pretty well.
The company has assets of $885MM with stated equity of $71MM.
The equity position is actually$55MM, as the preferred stock is actually debt not equity, debt that they won’t pay back.
They had $16MM in problem loans which could further erode the equity position.
The net income was $3MM in FY10 and $2MM in FY09.
So how are they going to pay back the tax payers $16MM?. At this rate they it should be paid off by 2020.
Why haven’t they used the NI to pay down on the loan?
Maybe because they have to make sure the executives are well compensated.
Michael Middleton made $529k
William Pasenelli made $441K
Gregroy Cockerham made $346
Not bad, maybe the $15MM went to pay these salaries.
These guys are probably staying at the Waldorf.
Are you giving your money to this crew?
Tags:deliquency, executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in Banking, executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 12, 2011
This is the CEO Bob Braswell he took $16MM in TAARP money
He hasn’t paid interest since 11/10
He makes $437k, to rack up $38MM in bad loans
Carolina Bank Greensboro North Carolina was founded in 1996. The company took $16MM in tax payer funded bailout money which it has neglected to return. It has also chosen not to pay interest since 11/10. What if the customer decided not to pay interest to them?
The company has $676MM in assets and $53MM in equity.
The actual equity is $37MM, as the $16MM in bailout funds is debt not preferred stock.
The problem loan portfolio has $6MM in loans 30-90 days past due and $32MM on non accrual.
So, the bank has $38MM in bad loans with only $37MM in equity.
This bank is bankrupt, why isn’t it closed down?
Then again, why isn’t it on the problem bank list?
The company had net income of ($2MM) in FY10.
The executive compensation has remained strong despite this dismal performance.
Robert Braswell made $437k
Gunner Fromen made $332k
Allen Liles made $258k
Philip Carmac “earned” $641k
This group pays themselves this kind of money but they don’t even pay interest on the tax payer funded bailout money, let alone paying it back.
Do you have money in this place, it appears bankrupt.
Tags:executives paid despite non payment of bailout fund, FDIC Bankrupt, Non repayment of Gov. bailout funds
Posted in Banking, executive compensation, Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 12, 2011
Here is the new site
capital2risk.com
Ask him where the $16,000,000 in tax payer money he took is
This is the CEO Vito Pantilione, he took $16MM in TAARP, the government said don’t worry about
He makes $759k to rack up $39MM in problem loans
Parke Bank Sewell New Jersey was founded in 1999. They company took $16MM in tax payer funded bailout money, that they have decided not to repay. For some reason, the company is not on the problem bank list.
The company has $756MM in assets with stated equity of $70MM.
However, $16MM of the equity is not preferred stock, it is debt that should be paid back to the tax payer.
The problem loan situation consists of $10MM in loans that are 30-90 days past due, with $29MM on non accrual.
So that equates to $39MM in problem loans, with only$54MM in equity.
The non accrual alone could wipe out the equity position.
This company is probably technically insolvent.
Why aren’t they on the problem bank list.
They had net income of $6MM in FY10 and $5MM in FY09.
Why couldn’t they have used these funds to repay the tax payer.
The executives remained solvent.
Vito Pantilio made $759k
David Middlesbrook made $228k
Elizabeth Milousky made $235k
Looks like this team gets paid well, they aren’t worried about paying the tax payer back
Vito goes a good job at bankrupting this place.
Vito you make $759k, where is the $16MM you took from the tax payer, check your pockets.
Do you Parke your money in this disaster?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds | 2 Comments »
May 11, 2011
This is the CEO Shaun Burke he took $17MM in TAARP money
He makes $315k to make make $23MM in bad loans
The bank made $5k in FY10, at that rate how long will it take to pay back $17MM, how does eternity sound
Guaranty Bank Springfield, Missouri was founded in 1891. The bank took $17MM in taxpayer funded bailout money which it has chosen not to return.
The company’s assets are$682MM with equity of $52MM.
The actual equity position is $35MM, the so called $17MM in preferred stock is actually debt owed to the tax payer.
They have $23MM in loans on non accrual.
Having $23MM in problem loans with only $35MM in equity is not good.
They are probably technically insolvent.
Why aren’t they on the problem bank list?
Net income was $5K in FY10 and ($3MM) in FY09, you think it might be tough to pay the tax payer back $17MM?
Don’t worry the executives are doing fine.
Shaun Burke made $314K
Carter Porter made $218K
Michael Mattison made $193K
Not bad for wiping this thing out.
At least on the website, they post their luxury expenditure policy.
I guess they don’t have the luxury of paying back the tax payer
Tags:executives paid despite non payment of bailout fund, FDIC, Non repayment of Gov. bailout funds
Posted in Banking, executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 11, 2011
Patrick Boty took $17MM in TAARP money
He is smiling because he makes $437k, while making$53MM in bad loans
The bank made $5k in each of the last 2 years, how long will it take to pay back $17M? When is hell going to freeze over?
Redding Bank of Commerce Redding, California was founded in 1898. The company has taken $17MM in tax payer bailout funds which has decide to not pay back.
The company has $939MM in assets with $101MM in equity.
The actual equity position is $84MM, as the $17MM in tax payer funds is debt not preferred stock.
The problem loan portfolio consists of $25MM in loans 30-90 days past due, with $28MM on non accrual.
That is $53MM in problem loans with only $84MM in equity.
The non accrual alone could wipe out 33% of the equity.
They had net income of $5MM each of the last 2 years, why not pay the tax payer back.
At least the executives were able to pay themselves.
Patrick Moty made $437K
Linda Miles made $376K
Samuel Jimenez made $203K
Randall Eslick made $235K
How much was the tax payer paid, zero.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, FDIC Bankrupt, Non repayment of Gov. bailout funds | Leave a Comment »
May 11, 2011
Here is the CEO Marc Lively, he took $17MM in TAARP funds
He made $298k last year
Mark made $151MM in problem loans with only only $39MM in equity
It didn’t take him long to bankrupt this place
They lost $10MM over the last 2 years
The balance sheet is not looking very lively
Good thing has time to play golf, at least he can’t make bad loans there
Community First Bank and Trust Columbia, Tennesse was founded in 1999. They took $17MM in tax payer funded bailout money, which it won’t pay back. I couldn’t find it on the problem bank list, but it ought to be.
The company has $678MM in assets with $56MM in supposed equity.
The equity position is actually $39MM, as the $17MM in bailout funds is not preferred stock but debt, which they won’t pay back.
The problem loan scenario is staggering. They have $41MM in loans past due 30-90 days, get this, there are $110MM in loans on non accrual!
So, they have $151MM in bad loans and $39MM in equity.
This place is flat out bankrupt
Why hasn’t the government shut them down. What, they think if they wait they will get the $17MM back?
Why aren’t they at least on the problem bank list, this place has problems.
This place is bankrupt.
How are they going to pay back the tax payer $17MM
Net income was ($4MM) in FY10 and ($6MM) in FY09.
So how are they going to pay the $17MM back?
At least the executives are suffering. They get paid well for wiping this place out.
Mark Lively made $298K
Diane Scroggins made$125K
Michael Saporito made $167K
Carl Cambell made $177K
Mark Lively gets paid well to run this thing into the ground
That is good pay for causing this disaster.
Tags:deliquency, executives paid despite non payment of bailout fund, FDIC Bankrupt, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in Banking, executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 11, 2011
This is Dwight Utz he took $17MM in bailout money
This is Thomas Crowder the CFO
Ask Thomas how he is going to pay you back the $17,000,000 he owes the tax payer
Thomas isn’t worried he makes $231,000 a year
The bank made $200k in FY10 and ($400M) in FY09, how the hell long will it take them to pay back $17MM
Dwight makes $311k, good pay for wiping out a 92 year old bank
This is the board the took $17,000,000 in tax payer money that they won’t pay back
East Carolina Bank Engelhard, North Carolina was founded in 1919. The company took $17MM in tax payer funded bailout money, which it has decided not to repay. It is not on the government problem bank list. I guess not paying back the tax payer back, is not a problem.
The company has $919MM in assets with $80MM in equity.
The actual equity is $63MM as the $17MM in bailout money is debt not preferred stock, despite the fact that they won’t repay it.
There are $23MM in problem loans. The non accrual alone could eradicate a large part of the equity position.
Net income was ($200K) in FY10 and $499K in FY09.
Based on this financial performance, how are they possibly going to pay back the tax payer’s $17MM?
Fortunately, the executives haven’t suffered or made any effort to pay back the tax payer.
Dwight Utz made $311K
Thomas Crowder made $231K
James Burson made $204K
At least these boys are well taken care of.
They have made a good effort at wiping out a 92 year old institution.
Is this your bank?
Dwight Utz?
Dwight got paid all right, for running this place into the ground.
Dwight, when are you going to pay back the tax payer the $17MM you stole
Do you have money in this bank?
Next time you go into the branch, ask them when they are going to stop paying Dwight Utz for his incompetent management, and pay back your $17MM in tax payer money.
Tags:executives paid despite non payment of bailout fund, FDIC Bankrupt, Non repayment of Gov. bailout funds
Posted in Banking, executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | 6 Comments »
May 11, 2011
This Gary McKeown he took $21MM in bailout funds
He made $269k last year
Bank had net income of $121k in FY10 and ($6MM) in FY09, how are they going to pay back $21MM
Ameriserv Financial Johnston, Pennsylvania was founded in 1933. The company took $21MM in tax payer bailout money, which it hasn’t repaid.
The company has $924MM in assets with $97MM in equity.
The equity position is actually $76MM as the $21MM in preferred stock is actually debt, not equity.
The company had net income of $121K in FY10 and ($6MM) in FY09.
At this rate, how long will it take them to repay the tax payer?
Though this bank makes no effort to repay the tax payer, the executive compensation was not hindered.
Glen Wilson made $497K
Gary McKeown made $269K
Jeffrey Stopko made $204K
Gregory Young made $241K
The tax payer doesn’t get paid, however the executives got paid well.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in Banking, executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 11, 2011
This is Kim Prince CEO, he took $20,000,000 in tax payer money which he won’t pay back
This Prince pays himself $303,000 a year
The Prince has $40,000,000 bad loans
Kim Prince took $20MM of the tax payers money, which he won’t pay back
Don’t worry, this prince pays himself $300K
That is why he is smiling, he takes $20MM and gets paid $300k as he bankrupts this place, this guy is a prince
Why is this clown smiling? He took $20,000,000 of your money
This bank might have survived the Great Depression but it might not survive Kim the Prince
Citizens South Bank Gastonia, NC was founded in 1904. The company took $20MM in tax payer funded bailout money, which it has decided to not return.
The company has $1B in assets with $91MM in equity.
The actual equity position is $71MM, as the $20MM in so called preferred stock is actually tax payer bailout funds, which is debt not equity.
The company has $40MM in problem loans.
This is your bank for life?, they have $40,000,000 in Sh$$it loans
The non accrual of $23MM could easily wipe out the equity position.
Why isn’t this company on the problem bank list?
They had net income of $7MM in FY10, why wasn’t this money used to pay back the tax payer?
At least the executive compensation remains intact.
Kim Price made $303K
Gary Hoskins made $147K
Daniel Boy made $187K
How come they haven’t made any payments on the $20MM they owe the taxpayer?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in Banking, executive compensation, Non repayment of Gov. bailout funds | 33 Comments »
May 11, 2011
Florida Bank Tampa, Florida was founded in1985. The company took $20MM in tax payer funded bailout money, which it has neglected to pay back. Then again, it hasn’t even made interest payments on these funds since 8/10. For some reason, the company isn’t on the problem bank list. The Texas ratio is 86%.
The company has assets of $839MM with stated equity of $47MM.
Though the stated equity is $47MM, the $20MM is tax payer funded bailout money, which is actually debt not preferred stock. The actual equity is $27MM.
The problem loan portfolio is immense. They have $64MM in problem loans
So, they have $64MM in bad loans with $23MM in equity.
This bank is bankrupt.
Why haven’t they been closed down or at least put on the problem bank list?
This bank is also adept at losing money. Net income was ($42MM) in FY10 and, ($15MM) in FY09.
They lost another in Q1 2011.
How are they going to pay the tax payer the $20MM back? They can’t
At least the executives were taken care of.
Dale Reid made $280
Cindy Robbins made $239K
That is good pay for destroying this company.
Tags:deliquency, executives paid despite non payment of bailout fund, FDIC Bankrupt, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 10, 2011
This is Alan Hyatt, he took $23,000,000 in TAARP money
His bank is on the problem bank list
Alan makes $401,00 a year, to run this place into the ground
Alan is sitting on $45,000,000 in bad loans
How is this clown going to pay the tax payer back $23,000,000? He can’t!
Alan engages in unsafe and unsound banking practices
The efficiency ratio is like 87%, this clown loses money just opening up the door
Alan made $1,883,000 in FY2011, how the F$$ck long will it take this crock to pay back $23,000,000, sounds like eternity
Severn Bank Annapolis, MD was founded in 1949. The company took $23MM in tax payer funded bailout money, which it has neglected to pay back. The company is on the problem bank list as it entered into a supervisory agreement with the FDIC for unsound and unsafe banking practices. The Texas ratio is 41%.
The company has assets of $958MM and stated equity of $106MM.
The actual equity is $83MM, as the $23MM in tax payer funded bailout money is debt not equity.
The problem loan portfolio is impressive. They have $43MM in loans that are 30-90 days past due, with $34MM on non accrual and $24MM in foreclosure.
So they have $77MM in bad debt with only $83MM in equity.
Living off the fat of the tax payer
If they went mark to market on this portfolio, they would be insolvent.
Net income was ($563K) in FY10 and ($16MM) in FY09.
At this rate, how are they going to pay back the tax payer. They probably can’t.
Fortunately, the executive compensation was effected.
Alan Hyatt made $401K
Thomas Bevivano made $251K
Philip Jones made $239K
How is the tax payer getting paid back?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 9, 2011
Tidelands Bank Mount Pleasant, SC was founded in 2003. They took $13MM in tax payer funded bailout money, which it hasn’t paid back. As a matter of fact, they stopped paying dividends on this money on 8/10. That could be the reason they are on the problem bank list. They agreed to a consent order with the FDIC for having weak management, capital, asset quality and earnings. The Texas ratio is an incredible 92%.
The company has $573MM in assets with $29MM in stated equity.
The actual equity is $17MM, as the preferred stock is actually tax payer funded, which they decided to not repay.
The problem loan portfolio could easily wipe out the remaining equity. They have $4MM in funds 30-90 days past due, with $30MM on non accrual.
So, they effectively have $43MM in delinquent loans with only $29MM in equity.
This place is insolvent.
Why haven’t they been shut down?
This management is also good at losing money. Net income was ($16MM) in FY10,($11MM) in FY09 and ($4MM) in FY08.
They lost $7MM in Q2 2011.
The bank lost another $8MM in Q3 2011 or 78% of the remaining equity.
How are they going to pay the tax payer back $13MM? That is not going to happen.
At least the executives were not afraid to pay themselves, as the tide went out.
Robert Coffee made $322K
Alan Jackson made $283K
Mion Smith made $287K
It didn’t take this team long to wipe out the institution.
Hey Robert Coffee, the tax payer wants the $13MM back.
Robert Coffee is paying himself $322k, for taking $13MM from the tax payer and not paying it back.
Robert Coffee bankrupted this place in record time.
The market capitalization is $1MM, impressive.
Tags:deliquency, executives paid despite non payment of bailout fund, FDIC, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 9, 2011
Check out the new site
capital2risk.com
This is Scott Bauer Chairman, he took $41,000,000 of your money
Scott won’t even pay interest on the money he stole
He doesn’t even pay interest on the tax payer’s money
Scott gets paid $546k to lose $90,000,000 in 2 years, this guy is one savvy banker
Southern Community Financial
$42,750,000 |
Committed |
0.3% |
of Bank bailout commitment |
0.1% > |
of total bailout commitment. |
Disbursed |
$42,750,000 |
|
Returned |
$0 |
Revenue to Gov’t |
$4,156,250 |
Net Outstanding |
$38,593,750 |
No wonder he is bald
This clown is sitting on almost $90,000,000 in junk loans!
Scott wiped out the shareholders also
Is this white collar crime?
Do you have this savvy banker holding your money
I wouldn’t bank or trust with this
This is Jeff Clark
Jeff took $41,000,000 of you money
Jeff makes $344,000 a year to bankrupt this place
Jeff where is the $41,000,000 you stole from the taxpayer?
Jeff where is the $41,000,000 you stole?
Southern Community Bank Winston-Salem, NC was founded in 1996. The company took $41MM in tax payer funded bailout out money, which it has refused to pay back. As a matter of fact, they decided to stop paying interest on these funds also. The Texas ratio is 64%. The question why are they not on the problem bank list?
The company has assets of $1.6B with stated equity of $138MM.
However, the actual equity is $96MM, as the preferred stock is actually tax payer funded debt, that they should have paid back.
The problem loan portfolio is immense. They have $3MM in loan that are 30-90 days past due and an incredible $94MM in non accruals!
This equates to $97MM in bad loans with $96MM in equity.
This place is insolvent.
Why has the government not shut them down?
Then again, why aren’t they on the problem bank list?
The management team is also pretty good at losing money. Net income was ($25MM) in FY10 and ($65MM) in FY09.
How are they going to pay the tax payer back $42MM?
At least the executives are not shy in paying themselves, while they don’t pay the tax payer.
Scott Bauer made $546K
Jeff Clark made $344K
Robert Davis made $259K
That is good pay for destroying this institution!
Scott Bauer doesn’t pay the dividend on the tax payer bailout of $42MM but he does pay himself.
So Scott, they pay you $546K to lose $90MM in 2 years, maybe you should be history.
Scott, how about using some of that cash to repay the taxpayer
Call the tea party, Scott Bauer is stealing your money
Do you have money in this bankrupt place?
Trust is the operative word.
Maybe they have some confederate money?
How about changing the name to Southern Community Bank and Bust
Tags:executives paid despite non payment of bailout fund, FDIC, insolvent, Non repayment of Gov. bailout funds, problem bank list
Posted in executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | 6 Comments »
May 9, 2011
Bankers Bank of the West Denver, CO was founded in 1980. The company took $12MM in tax payer funded bailout money, which it has neglected to repay. Then again, they haven’t even made a dividend payment on these funds since 11/10. Not a bad deal. This allowed them to become a member of the problem bank list. They entered into a written agreement with regulators for general incompetence. The Texas ratio is an incredible 75%.
They owe the tax payer $527k in unpaid interest.
The net income for Q1 was $622k, why don’t they use this to pay back interest to tax payer?
The company has assets of $387MM with $31MM in equity.
The loan portfolio has $34MM in non accrual.
So they have $34MM in bad loans with only $31MM in equity?
This place is bankrupt.
Why hasn’t it been shut down?
This management team was able to wipe out 35% of the equity position.
How are they going to pay the tax payer back the $12MM?
They can’t, this thing is insolvent
This is the Bankers Bank?
What does a non Bankers Bank look like?
William Mitchell is the CEO. This guy is one savvy banker.
William, the tax payer wants the $12MM back, how about at least paying interest on the money you stole.
Check out their motto “imagination is the highest kite in the sky”
Can you imagine a balance sheet this bad?
Do you have money in this place?
You should head for the great divide.
Tags:deliquency, FDIC Bankrupt, foreclosure, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 8, 2011
This is Grant Yarber the CEO, he took $41MM of TAARP
Grant gets paid $370k to make $125MM in problem loans
Grant lost $127MM over the last 3 years, how is going to pay back $41MM, he can’t
Capital Bank Raleigh, NC took $41MM in tax payer funded bailout money, which it has neglected to repay. The Texas ratio is 64%.
Nice bow tie Grant where is the $41,000,000, Capital Bank?
Do you have money with Grant?
The company has $1.5B in assets and $74MM in stated equity.
The actual equity is probably closer to $30MM, as the $41MM in so called preferred stock is actually debt, that is owes to the tax payer.
The problem loan portfolio is amazing. They have $39MM in loans 30-90 past due, with get this, $86MM in loans over 90 days past due!
That means they have $125MM in problem loans with $41MM in equity.
This place is bankrupt, how come they haven’t been shut down?
Then again, why are they not on the problem bank list?
They might want to drop the word capital from their name, that is the one thing they don’t have.
Net income was ($63MM) in FY10, ($9MM) in FY09 and ($55MM) in FY08
Based on this stellar performance, how are they going to pay the tax payer back $41MM?
At least the executives are getting paid well for causing this debacle.
Check out Grant, he lost $127,000,000 in the last 3 years
Why is this FAT SLOB smiling, he got paid $370,000
This DOPE took $41,000,000 in TAARP
How about putting Grant in Jail
Grant Yarber made $370K
David Morgan made $218K
Mark Redmond made $195
Grant Yarber made $370k to lose $127MM and wrack up $125MM in problem loans.
Not bad pay for destroying this bank and taking $41MM in tax payer money.
Hey Grant you might what to change the name of this train wreck, capital is the one thing you don’t have, how about Insolvent Bank. The only capital here is what you are taxing from the tax payer.
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | 8 Comments »
May 8, 2011
First M&F Bank Kosiusko, Mississippi was founded in 1890. The company took $30MM in tax payer funded bailout money, which it has neglected to pay back. For some reason they are not on the problem bank list, despite having a Texas ratio of 40%.
The company has assets of $1.4B and stated equity of $102MM.
The actual equity is probably closer to $72MM, as the preferred stock is really debt.
The problem loan portfolio is impressive. They have $11MM in loans 30-90 days past, due with $45MM on non accrual.
The non accrual alone could wipe out the equity base.
Check out the properties for sale on their website, they have a nice array of vacant land for sale.
This place is probably technically insolvent.
How are they going to pay the tax payer back?
Don’t worry the executive compensation remains strong.
Hugh Potts made $368MM
John Copeland made $197K
Jeffrey Lacey made $203K
Good pay for creating this level of problem assets.
Tags:executives paid despite non payment of bailout fund, FDIC Bankrupt, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds | 2 Comments »
May 8, 2011
The guy in the first row on the right is Preston Moore, he took $34MM in TAARP
Preston makes $599k to make $33MM in bad loans
This bank lost $26MM in FY10, how is Preston going to pay back $34MM
Encore Bancshares Houston, Texas was founded in 1956. The company took $34MM of tax payer funded bailout money, which it has decided to not pay back.
The company has $1.B is assets with $126MM in equity.
The actual equity position is $92MM, as the $34MM that the company has neglected to pay back is not prefered stock, it is debt.
The problem loans are $5MM in 30-90 days past due with $28MM in non accrual.
This $33MM in bad debt could easily wipe out the equity position.
This bank could quickly become insolvent.
The net income was ($26MM) in FY10.
It is not looking good for them to pay back the tax payer’s $34MM at this rate.
Despite this dismal performance, the executive compensation remains intact.
James D’Aostino made $360K
Preston Moore made $599K
Harold William made $520K
Not bad pay for wiping out this company and taking $34MM in tax payer funds which they have made no effort to repay!
What can this place do for an Encore, pay Preston Moore money, another $599k to lose another $26MM.
Harold William needs as a pay increase also for wiping out this company.
These boys get paid good for this kind of destruction.
Tags:default, deliquency, executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 8, 2011
United Bancorp Tecumesh, MI was founded in 1893. The company took $20MM in tax payer bailout funds which is has decided it doesn’t want to pay back. For some reason, the company is not on the problem bank list. So if you don’t pay the tax payer back, that is not a problem.
The company has $861MM in assets with stated equity of $92MM.
The actual equity position is $72MM as the $20MM in tax payer funded bailout funds are actually debt not prefered stock.
The company has problem loans consisting of $6MM in loans that are 30-90 days past due, with $31MM in non accrual.
So, the company has $37MM in problem loans with only $72MM in equity. The non accruals only could effectively wipe out the equity base.
This bank is insolvent, how come they aren’t on the problem bank list. Then again, why aren’t they shut down?
The net income was ($4MM) in FY10 and ($9MM) in FY09.
So how are they going to pay back the tax payer $20MM?
Luckily, the executives still got paid.
Robert Chapman made $270K
Randal Rabe made $193K
Todd Clark made $177K
Wow, these people were paid well for destroying a 118 year old institution and taking $20MM in tax payer funding.
Check out the website, they talk about the “truth about TAARP”. They claim it is not a bailout? Then why don’t you paid it back if you don’t need it?
They state they didn’t get involved in subprime lending, well 50% of your equity base is in jeopardy of getting wiped out with past due loans.
The so called preferred shares offering is debt not equity, debt what you have chosen not to repay.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds | 2 Comments »
May 7, 2011
Why not hire this cat, can’t be worse than James Hughes
This is James Hughes he stole $20,000,000 in tax payer money which he won’t repay
James gets paid $269,000 to steal your money
James is sitting on $25,000,000 in bad loans
James how are you going to pay back $20,000,000 with $25,000,000 in sh$$t loans
This dope’s bank made $203,000 in Q4 how the F$$ck long will it take James Hughes to pay back $20,000,000?
How about 20 years
James $20,000,000
The company has $818MM in assets with supposed stated equity of $68MM.
They should hire this guy he can’t be worse than James Hughes
The actual equity position is only $48MM, as the $20MM in tax payer funded bailout is actually debt, not preferred stock as stated in the financial statements.
The problem bank portfolio consists of $24MM in loans that are 30-90 days past due,with $31MM in non accruals.
That results in $55MM in past due loans with only $48MM in equity.
This place is insolvent, why haven’t they been closed down?
Then again, why aren’t they on the problem bank list?
The company had net income of $720K in FY10 and ($2MM) in FY09.
Based on these financial results, how are they going to repay the tax payer $20MM. They can’t!
Fortunately, the executive compensation remains robust.
James Hughes made $269K
Alan Beder made $164K
This crew does all right for destroying this company
So James how are you going to pay the tax payer back the $20MM you took?
The executives continue to take money while deciding not to pay back they tax payer!
Tags:deliquency, executives paid despite non payment of bailout fund, FDIC, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds | 2 Comments »
May 7, 2011
This is Debra Wright the CEO, she took $19MM in bailout money
Debra has not even paid interest on you money since 10/10
Debra gets paid $486k to rack up $120MM in bad loans and run this place into the ground
Carver Bankcorp NY, NY was founded in 1948. The company stole $19MM in tax payer funded bailout money, which has decided that it doesn’t have to repay. Get this, they also decided to stop paying interest on these tax payer supported funds since 10/10. So the tax payer has to pay them interest but they don’t have to pay interest on the tax payer bailout initiative? They haven’t paid back the bailout money and they are not on the problem bank list. I would say not paying back $19MM is a problem? Check this out, the Texas ratio is an astonishing 154%. As a matter of fact the stock is listed?
The company has “assets” of $805MM with stated “equity” of $61MM.
The equity position is actually $42MM, as the $19MM in tax payer funded bailout money is not preferred stock it is debt, which they should have paid back to the government.
The problem loan portfolio is insane in relation to the equity position. They have $30MM in loans 30-90 days past due, the non accruals are, get this $90MM with OREO of $47M.
Hold on, that is $120MM in bad debt with only $42MM in equity.
This place is insolvent, why hasn’t government shut then down?
Another stupider question, why aren’t they on the problem bank list?
This bank is the 2nd worst bank in NY and they aren’t on the problem bank list. Believe me that is stiff competition.
The ROE is (45%), maybe that is why they are delisted.
Net income in FY10 was ($27MM), so how are they going to pay the $19MM back to the tax payer?
At least the executive compensation wasn’t effected.
Deborah Wright made $486K
Mark Ricca made $208K
This team stole good money for running this 63 year institution into the ground
Check this out, the market capitalization is $1MM?
Is Deborah Wright in paying herself $486K to destroy this place?
Hey Deborah how about at paying interest on the money you stole.
Wright or wrong she is doing better than the tax payer!
Do you have money in this place?
.
Tags:C, default, deliquency, executives paid despite non payment of bailout fund, FDIC, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in Banking, executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 7, 2011
This John Evans the CEO, took $19MM in TAARP which he won’t pay back
John caused the bank to lose $5MM in the last tow years, how is going to pay back $19MM?
DL Evanas Bancorp Burley, ID, was founded in 1904. The company took $19MM in tax payer funded bailout money, which it has refused to repay. Why isn’t this place on the problem bank list? I guess taking tax payer funding without repayment is fine. The Texas ratio is 32%.
The company has $839MM in assets with $80MM in stated equity.
However, the actual equity is $61MM, as the $19MM in supposed equity that they owe the taxpayer is actually debt not prefered stock.
The bank has $8MM in loans that are 30-90 days past due and $24MM in non accrual with $17MM in OREO.
So they have $32MM in bad loans with $61MM in equity. The non accruals alone could wipe out the equity base.
Net income was ($2MM) in FY10 and ($3MM) in FY09.
So how are they going to pay back $19MM in tax payer funded debt, they can’t.
Maybe these Evan’s boys might want to start using another surname than John, because that is what they are sitting on.
Again, why haven’t you paid back the tax payer the $19MM.
This team has managed to bankrupt a 105 year old institution!
At least it is all in the family. Except the Evan’s owe the tax payer $19MM!!!!
Tags:executives paid despite non payment of bailout fund, FDIC, insolvent, Non repayment of Gov. bailout funds, problem bank list
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 7, 2011
This is Larry Ward, the CEO, he took $21MM in you bail money, which he hasn’t paid back
Larry hasn’t even paid interest on your money since 2/10
His bank is on the problem bank list
Larry got paid $518k to lose $30MM, not a bad gig
Heritage Oaks Bancorp Paso Rubles, CA was founded in 1983. The comapny took $21MM in tax payer funded bailout money, which has decided that is doesn’t want to repay. As a matter of fact, they haven’t even made interest payments since 2/10. Not a bad deal, the bank doesn’t have to pay interest on money they stole from the tax payer. What if we didn’t pay interest on money owed to them? Maybe that is why they are on the problem bank list. They entered into a consent agreement with the FDIC, for basic incompetence and making bad commercial real estate loans, shocking!
The company has $982MM in assets with $121MM in stated equity.
The actual equity position is $100MM, as the $21MM in preferred stock is actually tax payer funded debt, which they have decided not to pay back. Then again, they don’t even pay interest.
The problem loan portfolio consists of $2MM in loans 30-90 days past due, $36MM on non accrual.
The non accruals alone, could easily wipe out the equity base.
This bank is technically insolvent.
The net income was ($21MM) in FY10 and ($8MM) in FY09.
So how are they going to pay back the tax payer? They can’t.
Rest assured the executive pay was not effected.
Lawrence Ward made $518K
Ronald Oliveira made $489K
Joanne Funnari made $234K
That is good money for bankrupting this company.
It’s a good thing they can pay themselves but not the tax payer.
Couldn’t they use some of this money to make interest payments.
Why hasn’t the FDIC closed this place down, probably because they are bankrupt also.
Check out the investor relations page. They have a chart with the efficiency ratio skyrocketing and core EPS getting wiped out. Guys you probably don’t want the public to see this
Tags:default, deliquency, executives paid despite non payment of bailout fund, FDIC, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 7, 2011
This is William Olsen the CEO, he took $20MM of your bailout money, which he won’t pay back
First Western Trust Denver, CO was founded in 2004. The company took $20MM in tax payer funded bailout money and has decided not to repay it. For some reason they are not on the problem bank list. I guess taking $20MM in tax payer money and not paying it back is not a problem? The Texas ratio 31%.
The company has assets of $494MM and stated equity of $94MM.
The actual equity is $74MM as the $20MM in bailout funds are debt not equity.
The problem loan portfolio consists of $1MM in loans 30-90 days past due, with non accrual of $17MM.
The company had net income of $4MM in FY10 and $3MM in FY09.
How come they can’t pay the payer back the $20MM they took?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 6, 2011
Take a look a the new site
capital2risk.com
Here is Rex Smith
Rex stole $17,000,000 in tax payer money
Rex won’t even pay interest on the money he stole
Rex means king in latin, he is the king of stealing from the tax payer
Community Bankers Trust Corp. Essex Bank Tappahannock VA was founded in 1921. The company took $17MM in tax payer funded bailout money, which they have decided to not repay. Then again, they haven’t even paid dividends on these funds since 5/10. Leave it bankers to not pay interest on tax payer funds. Maybe, that is why they are on the problem bank list, having entered into a written agreement with the regulators. The Texas ratio is 38%.
The company has $1B in assets and $107MM in equity.
The problem loan portfolio consists of $17MM in loans 30-90 days past due, with $52MM on non accrual and $15MM of OREO.
The stated equity of $107MM is actually $90MM, as the prefered stock is not equity it is tax payer funded debt that must be paid back.
As a result, they have $69MM in bad loans and only $90MM in equity. The non accruals alone, could wipe out the equity base.
These people are also pretty good at losing money. The net income was ($22MM) in FY10 and ($30MM) in FY09.
So how are they going to pay the tax payer back with these staggering loses? They can’t.
At least the executive pay hasn’t been impacted.
Rex Smith made $212K
George Largent made $407K
John Oakley made $180K
Gary Simanson “earned” $3MM
That is good pay for bankrupting a 90 year old institution. Not to mention stealing $17MM in tax payer money.
Maybe Gary Simanson could use the $3MM to pay back the taxpayer?
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 6, 2011
Not a bad choice for CEO he likes to steal money
The Baraboo Bancorporation was founded in 1857. The company took $20MM in tax payer funded bailout money, which is has decided not to repay. For some reason they are not on the problem bank list. Not repaying the tax payer is a problem. The Texas ratio is 52%.
The company has assets of $789MM with equity of $71MM.
The problem loan portfolio consists of $11MM in loans 30-90 days past due, with $21MM on non accrual and $19MM in OREO
Net income was ($2MM) in FY10 and ($7MM) in FY09.
Maybe that is reason they can’t pay the tax payer funds back.
Tags:FDIC, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 6, 2011
This is Joe Shearin CEO, took $24MM of your money, which he won’t pay back
Joe made $438k for making $56MM in bad loans
He lost $18MM in the last 2 years, how is he going to pay $24MM back?
Eastern Virginia Bancshares Tappahannock, VA was founded in 1910. The company took $24MM in tax payer funded bailout money, which they have neglected to pay back.
They have $1B in assets with $85MM in supposed equity.
However, the $24MM of equity from the tax payer bailout funds is actually debt not preferred stock. This results in an actual equity base of $61M.
The problem loan portfolio consists of $20MM of loans that are 30-90 days past due, with $36MM on non accrual and $11MM in OREO.
So they have $56MM in problem debt and only $61MM in equity.
This bank is technically insolvent, how come they are not on the problem bank list?
The financial performance was not exactly stellar. Net income was ($10MM) in FY10 and ($8MM) in FY09.
Based on these results, how are they going to pay the tax payer back $24MM, they can’t.
Thankfully, the executives are still being well compensated.
Joe Shearin made $438K
James Hackett made $197
Pretty good salaries for destroying a 101 year old institution.
So Joe Shearin loses $18MM, runs up $64MM in bad loans, steals $24MM from the tax payer and pays himself $438k to do this. Only in America
They have forgotten to post the annual report on the website since 2008. Probably to busy losing money for such nonsense.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds | Leave a Comment »
May 6, 2011
Take a look at the new site
capital2risk.com
This place stole $11,000,000 in tax payer money
Charles Sponato makes $703,000 a year but he doesn’t even pay interest on the $11,000,000 he stole
These clowns lost $4,546,000 in Q4 2011
Charles Sponato is sitting on $62,000,000 in junk loans, this place is bankrupt
Charles should be in jail
Do you have money in this bankrupt entity?
These two in the front row paid themselves over $1MM
Cecil Bank Elkton, MD was founded in 1954. The company took $11MM in tax payer bailout funding which it has neglected to pay back, As a matter of fact, they haven’t even chosen to pay dividends on these funds since 11/09. The company is on the problem bank list when it entered into a formal agreement with the regulators. The Texas ratio is an astonishing 126%.
The company has assets of $487MM with equity of $18MM.
The problem loan portfolio is huge in relation to the asset base. The problem loans are $66MM.
That translates into $66MM in bad loans, with $18M in equity, scary.
This thing is insolvent, why isn’t it shut down?
With net income of $1MM in FY10 and ($2MM) in FY09, how are they going to back the $11MM in tax payer funds?
Hold on, they lost another $4.3MM in Q2, there was a $1.7MM tax loss carry forward of $1.7MM, resulting in a reported loss of $2.5MM, not bad.
The executive pay was not impacted
Mary Halsey made $328K
Charles Sposato made $703K
Not bad pay for destroying this company
So, Mary Halsey and Charles Sposato were paid $1MM, when the company hasn’t even paid interest on the tax payer funded bailout of their company since 2009.
Check out their net income, they get paid more than the company makes in a year and they owe the tax payer $11MM. It is a good thing they get paid first, for running this place into the ground.
Take a look at their press releases, there are none. Here is press release, this place is history.
As Charles Sposato says, the best way to rob a bank is to own one!
Does Mary Halsey know what she is doing? Apparently not, she ran this place into the ground.
You would think for $328K a year, she could get a decent haircut.
Do you have money in this disaster?
At least Charles Sposato gets to steal $703k, while he bankrupts this place, only in America.
So, Charles Sposato pays himself $703K but doesn’t even pay the tax payer in interest on the money he stole.
He should be in jail.
Do you have money in this bank?
UNITED STATES OF AMERICA BEFORE THE
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
WASHINGTON, DC.
STATE OF MARYLAND COMMISSIONER OF FINANCIAL REGULATION BALTIMORE, MARYLAND
Written Agreement by and among
CECIL BANCORP, INC. Elkton, Maryland
CECIL BANK Elkton, Maryland
FEDERAL RESERVE BANK OF RICHMOND Richmond, Virginia
and
STATE OF MARYLAND COMMISSIONER OF FINANCIAL REGULATION Baltimore, Maryland
Docket Nos. 10-044 -WA/RB-HC 10-044 -WA/RB-SM
WHEREAS, in recognition of their common goal to maintain the financial soundness of Cecil Bancorp, Inc., Elkton, Maryland (“Bancorp”), a registered bank holding company, and its subsidiary bank, Cecil Bank, Elkton, Maryland (the “Bank”), a state chartered bank that is a member of the Federal Reserve System, Bancorp, the Bank, the Federal Reserve Bank of Richmond (the “Reserve Bank”), and the State of Maryland Commissioner of Financial Regulation, Baltimore, Maryland (the “Commissioner”) have mutually agreed to enter into this Written Agreement (the “Agreement”); and [Page Break]
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WHEREAS, on June 23, 2010, the boards of directors of Bancorp and the Bank, at duly constituted meetings, adopted resolutions authorizing and directing Charles F. Sposato to enter into this Agreement on behalf of Bancorp and the Bank, and consenting to compliance with each and every applicable provision of this Agreement by Bancorp and the Bank, and their institution-affiliated parties, as defined in sections 3(u) and 8(b)(3) of the Federal Deposit Insurance Act, as amended (the “FDI Act”)(12 U.S.C. §§ 1813(u) and 1818(b)(3)).
NOW, THEREFORE, Bancorp, Bank, Reserve Bank, and the Commissioner agree as follows:
Source of Strength
1. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s financial and managerial resources, pursuant to Section 225.4 (a) of Regulation Y of the Board of Governors of the Federal Reserve System (the “Board of Governors”) (12 C.F.R.
§ 225.4(a)), to serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that the Bank complies with this Agreement. Board Oversight
2. Within 60 days of this Agreement, the board of directors of the Bank shall submit to the Reserve Bank and the Commissioner a written plan to strengthen board oversight of the management and operations of the Bank. The plan shall, at a minimum, address, consider, and include:
(a) The actions that the board of directors will take to improve the Bank’s condition and maintain effective control over, and supervision of, the Bank’s major operations [Page Break]
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and activities, including but not limited to, credit risk management, loan review and approval, processes to mitigate risks associated with credit concentrations, capital, and liquidity;
(b) steps to strengthen the Bank’s audit function and the effectiveness of the board of directors’ Audit Committee in carrying out its oversight responsibilities;
(c) the development of a management succession plan to promote the retention and continuity of capable management; and
(d) a description of the information and reports that will be regularly reviewed by the board of directors in its oversight of the operations and management of the Bank, including information on the Bank’s adversely classified assets, concentrations of credits, allowance for loan and lease losses (“ALLL”), capital, liquidity, and earnings.
Corporate Governance Review
3. (a) Within 30 days of this Agreement, the Bank’s board of directors shall retain an independent consultant acceptable to the Reserve Bank and the Commissioner to conduct a review of the effectiveness of the Bank’s corporate governance (the “Review”) and to prepare a written report of findings and recommendations (the “Report”). The Review shall, at a minimum, address, consider, and include:
(i) the current structure and composition of the board of directors and its committees to ensure that they have the appropriate independence to carry out the board of directors’ oversight responsibilities, and a determination of the structure and composition needed to adequately supervise the affairs of the Bank;
(ii) the responsibility of the board of directors to monitor management’s adherence to approved policies and procedures, and applicable laws and regulations; and [Page Break]
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(iii) the salary and fee structure for senior management and the board of
directors.
(b) Within 10 days of the Reserve Bank’s and the Commissioner’s approval of the independent consultant selection, the Bank shall submit an engagement letter to the Reserve Bank and the Commissioner for approval. The engagement letter shall require the independent consultant to submit the Report within 30 days of regulatory approval of the engagement letter and to provide a copy of the Report to the Reserve Bank and the Commissioner at the same time that it is provided to the Bank’s board of directors.
4. Within 30 days of receipt of the Report, the Bank’s board of directors shall submit a written management plan to the Reserve Bank and the Commissioner that fully addresses the findings and recommendations in the Report and describes the specific actions that the board of directors proposes to take in order to strengthen the Bank’s corporate governance.
Credit Risk Management and Credit Administration
5. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable written plan to strengthen credit risk management practices. The plan shall, at a minimum, address, consider, and include:
(a) Periodic review and revision of risk exposure limits to address changes in market conditions;
(b) strategies to minimize credit losses and reduce the level of problem assets;
(c) timely and accurate identification and quantification of credit risk within the loan portfolio;
(d) stress testing of loan and portfolio segments; and
(e) management’s monitoring and controlling of problem assets. [Page Break]
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Concentrations of Credit
6. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable written plan to strengthen the Bank’s management of commercial real estate (“CRE”) concentrations, including steps to reduce or mitigate the risk of concentrations. The plan shall be consistent with the Interagency Guidance on Concentrations in Commercial Real Estate Lending, Sound Risk Management Practices, dated December 12, 2006 (SR 07-1), and, at a minimum, address, consider, and include:
(a) Establishment of concentration of credit risk tolerances or limits by types of loan products, geographic locations, and other common risk characteristics or sensitivities;
(b) ongoing risk assessments;
(c) strategic planning regarding risks associated with CRE concentrations, including steps to control and mitigate such risks;
(d) a schedule for reducing and the means by which the Bank will reduce the level of CRE concentrations; and
(e) enhanced periodic reporting to management and the board of directors. Lending and Credit Administration Program
7. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable enhanced written lending and credit administration program that shall, at a minimum, address, consider, and include:
(a) Enhancements to the internal loan grading system to timely and accurately identify individual problem credits;
(b) loan approval limits for individual officers; and
(c) loan approval limits for the loan committee. [Page Break]
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Loan Review Program
8. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable written program for the ongoing review and grading of the Bank’s loan portfolio by a qualified independent party. The program shall, at a minimum, address, consider, and include:
(a) The scope and frequency of loan review;
(b) standards and criteria for assessing the credit quality of loans;
(c) application of loan grading standards and criteria to the loan portfolio;
(d) controls to ensure adherence to the revised loan review and grading
standards; and
(e) written reports to the board of directors, at least quarterly, that identify the status of those loans that are nonperforming or adversely graded and the prospects for full collection or strengthening of the quality of any such loans.
Asset Improvement
9. The Bank shall not, directly or indirectly, extend, renew, or restructure any credit to or for the benefit of any borrower, including any related interest of the borrower, whose loans or other extensions of credit are criticized in the report of examination of the Bank conducted by the Reserve Bank that commenced on October 5, 2009 (the “Report of Examination”) or in any subsequent report of examination by the Reserve Bank and/or the Commissioner, without the prior approval of a majority of the full board of directors or a designated committee thereof. The board of directors or its committee shall document in writing the reasons for the extension of credit, renewal, or restructuring, specifically certifying that: (i) the Bank’s risk management policies and practices for loan workout activity are acceptable; (ii) the extension of credit is [Page Break]
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necessary to improve and protect the Bank’s interest in the ultimate collection of the credit already granted and maximize its potential for collection; (iii) the extension of credit reflects prudent underwriting based on reasonable repayment terms and is adequately secured; and all necessary loan documentation has been properly and accurately prepared and filed; (iv) the Bank has performed a comprehensive credit analysis indicating that the borrower has the willingness and ability to repay the debt as supported by an adequate workout plan, as necessary; and (v) the board of directors or its designated committee reasonably believes that the extension of credit will not impair the Bank’s interest in obtaining repayment of the already outstanding credit and that the extension of credit or renewal will be repaid according to its terms. The written certification shall be made a part of the minutes of the meetings of the board of directors or its committee, as appropriate, and a copy of the signed certification, together with the credit analysis and related information that was used in the determination, shall be retained by the Bank in the borrower’s credit file for subsequent supervisory review. For purposes of this Agreement, the term “related interest” is defined as set forth in section 215.2(n) of Regulation O of the Board of Governors (12 C.F.R. § 215.2(n)).
10. (a) Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable written plan designed to improve the Bank’s position through repayment, amortization, liquidation, additional collateral, or other means on each loan, relationship, or other asset in excess of $250,000, including other real estate owned (“OREO”) and pools of loans, that are past due as to principal or interest more than 90 days as of the date of this Agreement, are on the Bank’s problem loan list, or were adversely classified in the Report of Examination.
(b) Within 30 days of the date that any additional loan, relationship, or other [Page Break]
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asset in excess of $250,000, including OREO, becomes past due as to principal or interest for more than 90 days, is on the Bank’s problem loan list, or is adversely classified in any subsequent report of examination of the Bank, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable written plan to improve the Bank’s position on such loan, relationship, or asset.
(c) Within 30 days after the end of each calendar quarter thereafter, the Bank shall submit a written progress report to the Reserve Bank and the Commissioner to update each asset improvement plan, which shall include, at a minimum, the carrying value of the loan or other asset and changes in the nature and value of supporting collateral, along with a copy of the Bank’s current problem loan list, a list of all loan renewals and extensions without full collection of interest in the last quarter, and past due/non-accrual report.
11. Within 90 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable plan for the use or disposition of any real property acquired by the Bank or a subsidiary of the Bank for future use as bank premises. The plan shall, at a minimum, address, consider, and include:
(a) A realistic analysis of the prospects for the Bank’s use of such property as premises within the next twelve months; and
(b) the timely disposition of such property if it is not to be used for bank
premises.
Allowance for Loan and Lease Losses
12. (a) Within 10 days of this Agreement, the Bank shall eliminate from its books, by charge-off or collection, all assets or portions of assets classified “loss” in the Report of Examination that have not been previously collected in full or charged off. Thereafter the [Page Break]
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Bank shall, within 30 days from the receipt of any federal or state report of examination, charge off all assets classified “loss” unless otherwise approved in writing by the Reserve Bank and the Commissioner.
(b) Within 60 days of this Agreement, the Bank shall review and revise its ALLL methodology consistent with relevant supervisory guidance, including the Interagency Policy Statements on the Allowance for Loan and Lease Losses, dated July 2, 2001 (SR 01-17 (Sup)) and December 13, 2006 (SR 06-17), and the findings and recommendations regarding the ALLL set forth in the Report of Examination, and submit a description of the revised methodology to the Reserve Bank and the Commissioner. The revised ALLL methodology shall be designed to maintain an adequate ALLL and shall address, consider, and include, at a minimum, the reliability of the Bank’s loan grading system, the volume of criticized loans, concentrations of credit, the current level of past due and nonperforming loans, past loan loss experience, evaluation of probable losses in the Bank’s loan portfolio, including adversely classified loans, and the impact of market conditions on loan and collateral valuations and collectability.
(c) Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable written program for the maintenance of an adequate ALLL. The program shall include policies and procedures to ensure adherence to the Bank’s revised ALLL methodology and provide for periodic reviews and updates to the ALLL methodology, as appropriate. The program shall also provide for a review of the ALLL by the board of directors on at least a quarterly calendar basis. Any deficiency found in the ALLL shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions. The board of directors shall maintain written [Page Break]
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documentation of its review, including the factors considered and conclusions reached by the Bank in determining the adequacy of the ALLL. During the term of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner, within 30 days after the end of each calendar quarter, a written report regarding the board of directors’ quarterly review of the ALLL and a description of any changes to the methodology used in determining the amount of the ALLL for that quarter. Capital Plan
13. Within 60 days of this Agreement, Bancorp and the Bank shall submit to the Reserve Bank and the Commissioner an acceptable joint written plan to maintain sufficient capital at Bancorp on a consolidated basis, and the Bank as a separate legal entity on a stand-alone basis. The plan shall, at a minimum, address, consider, and include:
(a) Bancorp’s current and future capital requirements, including compliance with the Capital Adequacy Guidelines for Bank Holding Companies: Risk-Based Measure and Tier 1 Leverage Measure, Appendices A and D of Regulation Y of the Board of Governors (12 C.F.R. Part 225, App. A and D);
(b) the Bank’s current and future capital requirements, including compliance with the Capital Adequacy Guidelines for State Member Banks: Risk-Based Measure and Tier 1 Leverage Measure, Appendices A and B of Regulation H of the Board of Governors (12 C.F.R. Part 208, App. A and B);
(c) the adequacy of the Bank’s capital, taking into account the volume of classified assets, concentrations of credit, the adequacy of the ALLL, current and projected asset growth, projected retained earnings, and anticipated and contingency funding needs;
(d) the source and timing of additional funds to fulfill Bancorp’s and the [Page Break]
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Bank’s future capital requirements; and
(e) the requirements of section 225.4(a) of Regulation Y of the Board of Governors (12 C.F.R. § 225.4(a)) that Bancorp serve as a source of strength to the Bank.
14. Bancorp and the Bank shall notify the Reserve Bank and the Commissioner, in writing, no more than 30 days after the end of any calendar quarter in which any of Bancorp’s consolidated capital ratios, or the Bank’s capital ratios (total risk-based, Tier 1, or leverage), fall below the approved capital plan’s minimum ratios. Together with the notification, Bancorp and the Bank shall submit an acceptable written plan that details the steps Bancorp or the Bank, as appropriate, will take to increase Bancorp’s or the Bank’s capital ratios to or above the approved capital plan’s minimums.
Liquidity and Funds Management
15. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable revised written contingency funding plan that, at a minimum, includes adverse scenario planning and identifies and quantifies available sources of liquidity for each scenario.
Earnings Plan and Budget
16. (a) Within 90 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner a written business plan for the remainder of 2010 to improve the Bank’s earnings and overall condition. The plan, at a minimum, shall provide for or describe:
(i) a realistic and comprehensive budget for the remainder of calendar year 2010, including income statement and balance sheet projections; and
(ii) a description of the operating assumptions that form the basis for, and adequately support, major projected income, expense, and balance sheet components. [Page Break]
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(b) During the term of this Agreement, a business plan and budget for each calendar year subsequent to 2010 shall be submitted to the Reserve Bank and the Commissioner with the at least 30 days prior to the beginning of that calendar year. Dividends and Distributions
17. (a) Bancorp and the Bank shall not declare or pay any dividends without the prior written approval of the Reserve Bank, the Director of the Division of Banking Supervision and Regulation of the Board of Governors (the “Director”), and as to the Bank, the Commissioner.
(b) Bancorp and its nonbank subsidiaries shall not directly or indirectly take any other form of payment representing a reduction in capital from the Bank without the prior written approval of the Reserve Bank and the Commissioner.
(c) Bancorp and its nonbank subsidiaries shall not make any distributions of interest, principal, or other sums on subordinated debentures or trust preferred securities without the prior written approval of the Reserve Bank, the Director, and the Commissioner.
(d) All requests for prior written approval shall be received at least 30 days prior to the proposed dividend declaration date, proposed distribution on subordinated debentures, and required notice of deferral on trust preferred securities. All requests shall contain, at a minimum, current and projected information, as appropriate, on Bancorp’s capital, earnings, and cash flow; the Bank’s capital, asset quality, earnings, and ALLL needs; and identification of the sources of funds for the proposed payment or distribution. For requests to declare or pay dividends, Bancorp and the Bank, as appropriate, must also demonstrate that the requested declaration or payment of dividends is consistent with the Board of Governors’ Policy Statement on the Payment of Cash Dividends by State Member Banks and Bank Holding [Page Break]
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Companies, dated November 14, 1985 (Federal Reserve Regulatory Service, 4-877 at page 4-323), and Maryland Code Annotated Financial Institutions §§ 3-307 Cash Dividends, and 3-308 Stock Dividends.
Debt and Stock Redemption
18. (a) Bancorp and its nonbank subsidiaries shall not, directly or indirectly, incur, increase, or guarantee any debt without the prior written approval of the Reserve Bank and the Commissioner. All requests for prior written approval shall contain, but not be limited to, a statement regarding the purpose of the debt, the terms of the debt, and the planned source(s) for debt repayment, and an analysis of the cash flow resources available to meet such debt repayment.
(b) Bancorp shall not, directly or indirectly, purchase or redeem any shares of its stock without the prior written approval of the Reserve Bank. BSA/AML Compliance
19. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable written plan to address the criticisms detailed in the Report of Examination, including but not limited to, the independent testing of the Bank’s compliance with all applicable federal laws, rules, and regulations relating to anti-money laundering (“AML”), including the Bank Secrecy Act (“BSA”) (31 U.S.C. § 5311 et seq.); the rules and regulations issued thereunder by the U.S. Department of the Treasury (31 C.F.R. Part 103); and the AML requirements of Regulation H of the Board of Governors (12 C.F.R. § 208.63).
Affiliate Transactions
20. (a) Bancorp and the Bank shall take all necessary actions to ensure that the Bank complies with sections 23A and 23B of the Federal Reserve Act (12 U.S.C. §§ 371c and [Page Break]
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371c-1) and Regulation W of the Board of Governors (12 C.F.R. Part 223) in all transactions between the Bank and its affiliates, including but not limited to Bancorp and its nonbank subsidiaries.
(b) Bank shall not violate, and Bancorp and its nonbank subsidiaries shall not cause the Bank to violate, any provision of sections 23A and 23B of the Federal Reserve Act or Regulation W of the Board of Governors. Compliance with Laws and Regulations
21. Bancorp and the Bank shall immediately take all necessary steps to correct all violations of law and regulation cited in the Report of Examination, including but not limited to Regulation O of the Board of Governors (12 C.F.R. Part 215). In addition, the board of directors of Bancorp and the Bank shall take the necessary steps to ensure the Bank’s future compliance with all applicable laws and regulations.
22. In appointing any new director or senior executive officer, or changing the responsibilities of any senior executive officer so that the officer would assume a different senior executive officer position, Bancorp and the Bank shall comply with the notice provisions of section 32 of the FDI Act (12 U.S.C. § 1831i) and Subpart H of Regulation Y of the Board of Governors.
23. Bancorp and the Bank shall comply with the restrictions on indemnification and severance payments of section 18(k) of the FDI Act (12 U.S.C. § 1828(k)) and Part 359 of the Federal Deposit Insurance Corporation’s regulations (12 C.F.R. Part 359).
Compliance with the Agreement
24. (a) Within 10 days of this Agreement, Bancorp’s and the Bank’s boards of directors shall appoint a joint committee (the “Compliance Committee”) to monitor and [Page Break]
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coordinate Bancorp’s and the Bank’s compliance with the provisions of this Agreement. The Compliance Committee shall consist of a majority of outside directors who are not executive officers of Bancorp and the Bank as defined in sections 215.2(e)(1) and 215.2(m)(1) of Regulation O of the Board of Governors (12 C.F.R. §§ 215.2(e)(1) and 215.2(m)(1)). The Compliance Committee shall meet at least monthly, keep detailed minutes of each meeting, and report its findings to Bancorp’s and the Bank’s boards of directors.
(b) Within 30 days after the end of each calendar quarter following the date of this Agreement, Bancorp and the Bank shall submit to the Reserve Bank and the Commissioner joint written progress reports detailing the form and manner of all actions taken to secure compliance with this Agreement and the results thereof. Approval and Implementation of Plans and Programs
25. (a) The Bank and, as applicable, Bancorp shall submit written plans and programs that are acceptable to the Reserve Bank and the Commissioner within the applicable time periods set forth in paragraphs 5, 6, 7, 8, 10(a), 10(b), 11, 12(c), 13, 15, and 19 of this Agreement. The Bank shall retain an independent consultant that is acceptable to the Reserve Bank and the Commissioner within the time period set forth in paragraph 3(a).
(b) Within 10 days of written approval by the Reserve Bank and the Commissioner, the Bank and, as applicable, Bancorp shall adopt the approved plans and programs. Upon adoption, the Bank and, as applicable, Bancorp shall promptly implement the approved plans and programs, and thereafter fully comply with them.
(c) During the term of this Agreement, the approved plans and programs shall not be amended or rescinded without the prior written approval of the Reserve Bank and the Commissioner. [Page Break]
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Communications
26. All communications regarding this Agreement shall be sent to:
(a) Eugene W. Johnson, Jr. Vice President
Federal Reserve Bank of Richmond P.O. Box 27622
Richmond, Virginia 23261-7622
(b) Teresa M. Louro
Assistant Commissioner for Bank Supervision
State of Maryland Commissioner of Financial Regulation
500 North Calvert Street
Room 402
Baltimore, Maryland 21202
(c) Mary Halsey President and CEO Cecil Bancorp, Inc. Cecil Bank
127 North Street Elkton, Maryland 21921
Miscellaneous
27. Notwithstanding any provision of this Agreement, the Reserve Bank and the Commissioner may, in their sole discretion, grant written extensions of time to Bancorp and the Bank to comply with any provision of this Agreement.
28. The provisions of this Agreement shall be binding upon Bancorp and the Bank and their institution-affiliated parties, in their capacities as such, and their successors and assigns.
29. Each provision of this Agreement shall remain effective and enforceable until stayed, modified, terminated, or suspended in writing by the Reserve Bank and the Commissioner.
30. The provisions of this Agreement shall not bar, estop, or otherwise prevent the Board of Governors, the Reserve Bank, the Commissioner or any other federal or state agency [Page Break]
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from taking any other action affecting Bancorp and the Bank or any of their current or former institution-affiliated parties and their successors and assigns.
31. Pursuant to section 50 of the FDI Act (12 U.S.C. § 1831aa), this Agreement is enforceable by the Board of Governors under section 8 of the FDI Act (12 U.S.C. § 1818).
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the 29th of June, 2010.
CECIL BANCORP, INC.
Signed by Charles F. Sposato Chairman
FEDERAL RESERVE BANK OF RICHMOND
Signed by Eugene W. Johnson, Jr. Vice President
CECIL BANK
Signed by Charles F. Sposato Chairman
STATE OF MARYLAND COMMISSIONER OF FINANCIAL REGULATION
Signed by Teresa M. Louro
Assistant Commissioner for Bank Supervision
cecilfederal.com
Tags:deliquency, executives paid despite non payment of bailout fund, FDIC, insolvent, Non repayment of Gov. bailout funds, problem bank list
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | 54 Comments »
May 6, 2011
Security Federal Corp. Aikens, SC was founded in 1922. The company took $22MM in tax payer funded bailout money which they have decided to not pay back. The Texas ratio is 40%. For some reason this place is not on the problem bank list.
The company has assets of $888M with only $66MM in equity.
The problem loan portfolio is inconceivable in relation to the equity position. They have $32MM in loans past due at 30-90 days, with $22MM in non accrual, $14MM in OREO and $17MM in foreclosure. Wow, this is not good.
The thing is they don’t have $66MM in equity, $22MM is tax payer funding, this is not preferred stock as they are calling it, it is debt that they have chosen to not pay back.
The actual equity base is $44MM.
So they have $68MM in bad debt with $44MM in equity.
This place is insolvent.
Why aren’t they on the problem bank list?
The net income has averaged $2MM over the last 3 years, so how long will it take them to pay back taxpayer $22MM at this rate?
Fortunately, the executive compensation has not been effected by this debacle.
Timothy Simon made $379K
Curtis Verenes made $246K
Roy Lindberg made $203K
This so called “management” team got paid well for blowing through $22MM in tax payer money and destroying a 89 year financial institution.
Check out the website, they forgot to post information regarding investor relations.
I guess they didn’t realize they are public, not to hard to figure it out.
The only question is, why are they not on the problem bank list and why are they not shut down.
Why rob a bank when you can own one!
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds | 2 Comments »
May 5, 2011
Metrpolitan Bank and Trust of Chicago Ill. has accepted $68MM in tax payer funded bailout funds, which it has neglected to pay back. The company is also on the problem bank list, as it has entered in a consent order for excessive CRE lending. They were also cited for management ineffectiveness, poor asset quality and inadequate capital. The Texas ratio is 52%.
The company has $322M in assets with $28MM in equity.
Net income was ($4MM) in FY10, $700K in FY09 and $3MM in FY08.
How are they ever going to pay back the tax payer $68MM? Also, how long is this going to take, eternity, would be my guess.
Tags:Non repayment of Gov. bailout funds, problem bank list
Posted in Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 5, 2011
This is Medhi Ghomeshi, the CEO, he got this place on the problem bank list in record time
He gets paid $475k
That is dam good money for making $415MM bad loans and losing $106MM in the last 3 years
Why is this crook still working here?
Great Florida Bank Miami Lakes, FLA was founded in 2004. They have entered into a consent agreement with the FDIC allowing them to become a member or the problem bank list and this place has problems. They were cited for having weak asset quality, capital and management. The Texas ratio is 175%.
The company has assets of $1.5B and equity of $70MM
The problem loan portfolio is phenomenal. They have loans that are 30-90 days past due of $100MM and get this, $315MM on non accrual.
So they have $415MM in bad loans with $70MM in equity.
This bank is insolvent, why haven’t they been shut down.
Besides booking bad loans, the management team is adept at losing money. Net income was ($41MM) in FY10, ($46MM) in FY09 and ($19MM) in FY08.
They were able to lose $106MM in 3 years, impressive. As they wiped out 126% of the equity.
Thankfully, the executive compensation was not impacted.
Mehdi Ghomeski made $475K
Luis Moncada made $218K
Gary Laurush made $218K
That is good pay for destroying this company in 3 years.
Medhi Ghomeski should walk the plank for bankrupting this place in record time.
Didn’t the FDIC put them on the problem bank list for having weak management?
The one thing they are great at is losing money.
Is this your bank, you are going down with the ship.
Tags:deliquency, FDIC, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Problem Bank list | Leave a Comment »
May 4, 2011
This is Michael Crapps, he took $11MM in TAARP, which hasn’t been repaid
His bank is also on the problem bank list
The bank lost $30MM in the last 2 years, how are they going to pay back $11M?
Michael gets paid $399k to run this place into the ground
First Community Bank of Lexington, SC was founded in 19995. The company took $11MM in tax payer funded bailout funds, which it has neglected to return. The company has the dubious distinction of being on the problem bank list, as they entered into a formal agreement with the regulators on 4/10. The Texas ratio is 20%.
The bank has assets of $599MM and stated equity of $40MM.
However, the $11MM in tax payer bailout funds is not equity it is debt, that the company has chosen not to repay. The actual equity is probably $29MM.
The problem loans consist of $2MM in loans past due 30-90 days, with $6MM in non accrual and $6MM in OREO.
That is $14MM in problem loans backed up by $29MM in equity, not a great situation.
This place looks relatively insolvent.
Then bank had net income of $1MM in FY10, ($25MM) in FY09 and ($6MM) in FY08.
How are they going to repay the tax payer funded $11MM, it doesn’t look good!
At least the executive compensation wasn’t impacted.
Michael Crapps made $339K to do it.
David Proctor made $173
The stock has a market capitalization of $23MM, or 60% of book, that is Crapps.
Crapps is what Michael is doing to the tax payer, this piece of S$$$?t, takes $11MM from the tax payer and won’t pay it back
At last he gets paid $339K to do steal tax payer money, that kind of money is not Crapp.
Do you have money in this piece of Crapps.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list
Posted in executive compensation, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 4, 2011
This is Roger Holly, he ran this place into the ground
Why is Roger bald?
This crook is sitting on $75,000,000 in bad loans
This criminal bankrupted this place in record time
First Security Group Chattanooga, TN was founded in 2000, it didn’t take this management team long to bankrupt this place. The company took $31MM in tax payer funded bailout money, which it has neglected to repay. As a matter of fact, it hasn’t even paid interest on this tax payer funded debt since 11/09. That’s a pretty good deal, an interest free tax payer funded loan! That may be the reason they are on the problem bank list. They entered into a consent agreement with the OCC on 4/10. The Texas ratio is 72%, making it, probably the worst bank in Tennessee.
The company has assets of $1.2B with equity of $90MM.
However, the $31MM in tax payer funded bailout money, is debt not equity. The resulting equity position is probably $59MM.
In relation to the equity base, the problem loan situation is daunting. They have $12MM in loans that are 30-90 days past due, with get this $54MM on non accrual and $15MM in OREO.
So, they have $81MM in bad loans backed by $59MM in equity.
This bank is bankrupt!
How come they haven’t been closed down yet?
Besides being astute at making bad loans, this team is adept at losing money. Net income was ($46MM) in FY10 and ($35MM) in FY09. It didn’t take these people long to wipe out their investors.
Based on this financial performance, how are they going to pay back the $32MM that they owe the tax payer. Pay back the tax payer, they can’t even make interest payments.
Fortunately, the executive compensation wasn’t impacted.
Roger Holley made $830K
William Lush made $217K
Lloyd Montgomery made $663K
These boys got paid pretty well for destroying this bank and stealing $32MM in tax payer funds.
Roger and William resigned. Maybe they should be incarcerated.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list
Posted in executive compensation, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 4, 2011
This is Thomas Daiber he took $32,000,000 in tax payer funded bailout money
He hasn’t even paid interest on it since 5/2009
This is Tom Daiber he took $32,000,000 of your money
Tom won’t pay interest on these funds but he pays himself $338,000
That is good pay for wiping out a 137 year old bank!
This is James Kerley he got paid $166,000 to bankrupt this place
Centrue Bank Streater, Ill was founded in 1874. The company took $32MM in tax payer financed bailout out funding which, it has decided to not pay back, Then again, they made only one dividend payment on these funds, back in 5/09. I guess it is all right if a bank doesn’t pay interest on tax payer funded bailout money. They signed into a written agreement with the regulators on 12/09, for general incompetence. Maybe the regulators should have detected these issues before they gave them $32MM, which they can’t pay back! The Texas ratio is an incredible 72%.
The company has $1.1B in assets with a supposed $103MM in equity.
The equity position is actually $71MM when you back out the $32MM in unpaid tax payer funded money, this is debt not equity. It needs to be paid back, but they are incapable of even paying the interest.
The bank has a staggering level of problem loans. There are $10MM in loans 30-90 days past due, with, get this, $68MM in loans on non accrual and $25MM in OREO.
So hold on, they have $78MM in bad debt with only $71MM in equity?
This place is bankrupt!
Not only can this management team make bad loans, they are adept at losing money. Net income was ($67MM) in FY10 and ($37MM) in FY09.
So how are they going to pay back the tax payer $32MM?
These guys were able to wipe out 50% of the equity in 3 years, now that is a good effort.
Rest assured, the executive compensation was not effected from this debacle.
Thomas Daiber made $338K
Kurt Stevensen made $191K
James Kerley made $166K
Roger Durbin made $160K
These guys get paid well for running a 137 year company into the ground and losing a $100MM. Image what they would have gotten paid if they mad money?
They have forgotten to post any financial reports on their website.
Maybe because they are busy losing money.
Then again, the market capitalization is $4MM or 4% of book. I guess when the ROE is (28%), investors aren’t attracted to this disaster.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list
Posted in executive compensation, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 3, 2011
This is Keith Cargill, head of lending, he took $75MM in tax payer funded bailout money
Then again, they haven’t even paid interest on this money since 3/10
Keith makes $576k a year
He has racked up $196MM in bad loans, no wonder he has no hair
Texas Capital Bank Dallas, Texas was founded in 1997. The company accepted $75MM in tax payer bailout funds which they have chosen not to repay. Then again the stopped paying interest on these funds since 3/10.
The company has assets of $5B with equity of $504MM
The problem loan situation is staggering. The problem loan portfolio consist of $46MM that are past due 30-90 days, with get this $147MM on non accrual and $22MM in OREO
If you back out the $75MM from the equity position as this is debt not equity, the equity position declines to $432MM.
That results in $196MM in problem loans supported by $432MM in equity, that is a problem.
How come this company is not on the problem bank list?
This crew might want to take Capital out of their name because that is the one thing they don’t have.
The net income was $37MM in FY10 and $18MM in FY09
How come these funds were not used to repay the tax payer debt?
At least the executive pay was not impacted.
Peter Bartholow made $596K
Keith Cargill made $576K
John Hughes made $471K
These guys are paid well for making bad loans.
Peter Bartholow paid himself $596k, while he stole $75MM in tax payer money which he won’t pay back. This criminal hasn’t even paid a dividend payment to the tax payer since 3/10.
Peter Bartholow is a criminal, who stole your money and should be in jail.
They should hire Neil Bush, he is adept at wiping out banks and not getting caught.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 3, 2011
This guy as CEO can’t be worse than Gary Douglas
Here is Gary Douglas
Gary took $32,000,000 in tax payer money
Gary makes $536,000 a year
Gary is sitting on $60,000,000 in bad loans
Gary has serious problems
Pulaski Bank St. Louis Missouri was founded in 1922. It accepted $32MM in taxpayer bailout funding, which it has neglected to pay back. The Texas ratio is very high at 44%.
The bank has assets of $1.4B with equity of $112M.
However, the $32MM in taxpayer funding is debt not equity. The actual equity position is $80MM.
Thee companies problem loan portfolio consists of $16MM in loans that are 30-90 days past due, with $56MM on non accrual.
They have $72MM in problem loans supported by $80MM in equity! This place has serious problems.
How come they haven’t been shut down?
Better yet, why aren’t they on the problem bank list?
The company had net income of $1MM in FY10, with $4MM in FY09. Based on this financial performance, how long will it take them to repay $32MM, eternity sounds about right.
At least the executives are well paid.
Gary Douglas made $536K
Thomas Reeves made $325K
Brian Bjorkman made $360K
This team got paid well for wiping out an 89 years institution!
Gary Douglas, where the hell is the $32MM you stole from the tax payer? Check you pocket.
This bank survived the Great Depression but it couldn’t survive Gary Douglas.
Gary you stole $32MM in tax payer money, don’t pay it back, run this place into the ground and pay yourself $536k . Who is better than you?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 3, 2011
This is Robert Davis the CEO, he took $25MM of your money
Net income was $2MM in FY10 and ($1MM) in FY09, at this rate how long will it take Robert to pay you back $25, eternity
Robert made $409l last year
Vist Financial Group Wyomissing, PA was founded in 1891. They accepted $25MM in tax payer funded bailout funds, which they have failed to repay.
The company has assets of $1B and equity of $117MM.
If you back out the $25MM of tax payer funding, as it is debt not equity, the actual equity position is $92MM.
The company has $9MM in loans 30-90 days past due, with $47MM on non accrual.
The means they have $56MM in problem loans support by $92MM in equity. The equity could be easily compromised.
The company made $2MM in FY10 and ($1MM) in FY09.
How long do you think it will take to pay back $25MM based on this financial performance? How does forever sound.
Fortunately, the executives remained well compensated for this dismal performance.
Robert Davis made $409K
Edward Barrett made $293K
Loius DeCesare made $229K
Michael Herr made $309k
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 3, 2011
This is Daniel Daigneault, the CEO, he took $25MM of your tax payer money, which he can’t pay back
Maybe thats why he has no hair
Daniel made $524k last year, he is not starving
The First Bancorp Damariscotta, ME was founded in 1864. The company took $25MM in tax payer funded bailout money, which it hasn’t paid back.
The company has assets of $1.3B with equity of $121MM.
However, if you back out the $25MM in funding from the equity position as this is debt not equity, the resulting equity is $95MM.
The company has $5MM in loans past due 30-90 day, with $25MM on non accrual.
The company had net income of $10MM in FY10 and $11 in FY09.
Not bad, why haven’t they paid back the tax payer?
At least the executive salaries weren’t impacted.
Daniel Daigneault made $524K
Tony McKim made $207K
Charles Wooton made $203
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 3, 2011
This is Lowell Danster, the CEO, he took $25MM in bailout money, which he hasn’t repaid
Lowell hasn’t even paid interest on this money since 12/10
Lowell is also on the problem bank list for negligent commercial real estate lending
This bank lost $54MM last year are they going to pay back $25MM
Lowell made $1.5MM last year, while he racked up $88MM in bad loans
Intervest Bancshares NY NY was founded in 1999. The bank accepted $25MM in tax payer bailout funds that it failed to repay. As a matter of fact, they haven’t paid interest on these funds since 11/09. They entered into a formal agreement with the OCC on 12/10, for excessive commercial real estate lending. Maybe the OCC should have looked into this place before they were given $25MM in tax payer funding!
The company has assets of $2B with supposed equity of $185MM.
If you back out tax payer funding from the equity base as it is debt not equity, the equity base declines to $160MM.
The company has $21MM in loans past due 30-90 days past due, with $67MM on non accrual and $27MM of OREO.
They have $88MM in bad loans supported by $160MM in equity.
How come this place hasn’t been shut down yet?
Net income was ($54MM) in FY10 and $1.5MM in FY09. Based on this financial performance, how long will it take to pay back the tax payer $25MM, how about eternity.
At least the executive compensation was not impacted.
Lowell Danster made $1.5MM
John Avonio made $274K
Stephen Helman made $326K
That is pretty good pay for running this bank into the ground.
The market capitalization is $65MM or 35% of book.
.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 3, 2011
Peoples Bancorp of Newton, NC was founded in 1912. The bank accepted $22MM in government bailout funds, which it has failed to repay. The Texas ratio is high at 41%.
The bank has assets of $1B with equity of $97MM.
However, $22MM of the $97MM is tax payer funded bailout funds which is debt not equity. The actual equity is $75MM.
The company has $26MM in loans that are past due 30-90 days, with $65MM on non accrual.
That is $91MM in problem loans supported by $75MM in equity. That is not a good ratio.
This bank is probably technically insolvent, why are they not on the problem bank list? Maybe North Carolina already reached it’s quota.
The company had net income of $47K in FY10 and $1.6MM in FY09, how long is it going to take to pay back the $22MM, how does eternity sound.
Luckily, the executive compensation was not compromised.
Tony Wolfe made $595K
John Beaman made $168K
Joseph Lampron made $168K.
The company has a market capitalization of $36MM or 37% of book.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 3, 2011
First M & F Bank Kosiuskoo, MS was founded in 1890. The company accepted tax payer funded bailout money of $30MM, which it has neglected to repay. The Texas ratio is high at 41%.
The company has assets of $1B with supposed equity of $133MM.
However, the $30MM in bailout funding is debt that supposedly has to be paid back, not equity. This loan was just used to prop up the equity base. If you back this out, the equity position is $103MM.
The problem loan portfolio consists of $11MM in loans past due 30-90 days, with $44MM in non accrual and $31MM in OREO.
They have $55MM in problem loans supported by $1.3MM in equity, not a great proposition.
The bank had net income of $15MM in FY10 and ($61MM) in FY09.
It is unclear on how they will pay the $30MM in the tax payer bailout funds.
The executive compensation remained intact.
Hugh Potts made $368K
John Copeland made $197K
Jeffrey Lacey earned $203K.
Decent compensation considering they can’t pay the $30MM back
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 3, 2011
This Lloyd Hilliard, the CEO, his bank owes the tax payer $30,000,000
Why is Lloyd smirking? Because he makes $343,000 for bringing a 150 year bank to it’s knees
Lloyd you have $35,000,000 in bad loans, how are you going to pay back $30,000,000 you took from the tax payer
Lloyd also wiped out the stockholders, the P/E is 56? That is a great investment
Lloyd net income in FY11 was $842,000, at this rate, how long will it take you to pay, $30,000,000, how does eternity sound!
Take look at all the junk real estate for sale, this place likes to finance vacant land
Net income was $5MM in FY10 and ($40MM) in FY09, how is he going to pay back $30,000,00
Lloyd makes $343k a year
Farmers Capital Bank Corp. Frankfort, KY was founded in 1850. The company accepted $30MM in tax payer funded bailout money, which it has neglected to return. The Texas ratio is 38%.
The company has assets of $750MM and equity of $67MM
The problem loan portfolio has $5MM in loans past due 30-90 days, with $26MM on non accrual.
Though the stated equity position is $67MM, when you back out the $30MM of tax payer funding from the equity base, the actual equity is $37MM.
That leaves only $37MM supporting $31MM in problem loans. This is not a good ratio, the remaining equity base could be quickly be negated.
Make this guy CEO, can’t be worse than Lloyd
This place could be technically insolvent.
Net income was $5MM in FY10 and ($40MM) in FY09. It is difficult to see how the company is going to be able to pay the $30MM back.
Luckily, the executive compensation was not compromised.
Llod Hillard made $343K
Ben Brown made $185K
Rickey Harp made $197K
Michael Schomich made $169M
Pretty good pay for bringing a 161 year old institution to it’s knees.
The market capitalization is $39MM, 58% of book.
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Property For Sale
The listed properties are for sale by Farmers Capital Bank Corporation and/or its affiliates. They are listed in alphabetical order by Kentucky county and then by other states for browsing ease. If you have interest in a particular property, please contact the person listed on that property and not the bank.
Anderson County
Commercial Property
222 East Woodford Street, Lawrenceburg KY
Description: commercial building
Price: $125,000
Contact: Greg Burton or Rick Harp, 502-227-1600
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Residential Property
1268 Stoneridge Road, Rock Creek Estates, Lawrenceburg KY
Description: single family residence and 3 lots-listed below
Price: $249,000
Contact: Harold Reynolds, Birdwhistell Realty 502-839-3456
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Residential Property
Lots 52, 54, and 55 Rock Creek Estates, Lawrenceburg KY
Description: residential lot #52
Contact: Harold Reynolds, Birdwhistell Realty 502-839-3456
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Residential Property
Description: residential lot #54
Contact: Harold Reynolds, Birdwhistell Realty 502-839-3456
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Residential Property
Description: residential lot #55
Contact: Harold Reynolds, Birdwhistell Realty 502-839-3456
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Residential Property
2490 Glensboro Road, Lawrenceburg KY
Description: single family residence
Price: call for information
Contact: Chris Thompson, 502-839-2600
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1012 Hungry Run Road, Lawrenceburg KY
Description: raw, undeveloped land
Price: $28,500
Contact: Cindy Crutcher, 502-839-9822
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The Links, Lawrenceburg KY
Description: 4.88 acres development site
Price: call for information
Contact: Greg Burton or Rick Harp, 502-227-1600
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Residential Property
1022 Bishop Street, Lawrenceburg KY
Description: single family residence
Price: $29,900
Contact: Conway & Lloyd, Elizabeth Lloyd 502-859-1707
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Residential Property
1112 Alton Road, Lawrenceburg KY
Description: single family residence
Price: $82,900
Contact: Conway & Lloyd, Elizabeth Lloyd 502-859-1707
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Residential Property
1128 Alton Road, Lawrenceburg KY
Description: single family residence
Price: $79,900
Contact: Conway & Lloyd, Elizabeth Lloyd 502-859-1707
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Residential Property
1132 Alton Road, Lawrenceburg KY
Description: single family residence
Price: $89,900
Contact: Conway & Lloyd, Elizabeth Lloyd 502-859-1707
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Residential Property
2000 Leslee Way, Lawrenceburg KY
Description: single family residence
Price: $157,900
Contact: Century 21, Jackie Nickell, 502-859-2125
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Residential Property
2109 Lesliee Way, Lawrenceburg KY
Description: residential lot
Price: call for information
Contact: Chris Thompson, 502-839-2600
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Residential Property
Silverleaf Subdivision, Lawrenceburg KY
Description: 16 single family residential lots
Price: call for information
Contact: Chris Thompson or Randy Leet, 502-839-2600
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Residential Property
203 Factory Street, Lawrenceburg KY
Description: single family residence
Price: call for information
Contact: Emily Catron
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126 Cardinal Lane, Lawrenceburg KY
Description: apartment house
Price: call for information
Contact: Emily Catron
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Bullitt County
Residential Property
Wildwoods Subdivision, Mt. Washington KY
Description: Lot #8 – 0.70 acre residential lot
Price: $33,500
Contact: any First Citizens Bank lender 502-957-7550 or 270-769-2301
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Residential Property
Wildwoods Subdivision, Mt. Washington KY
Description: Lot #19 – 0.37 acre residential lot
Price: $33,500
Contact: any First Citizens Bank lender 502-957-7550 or 270-769-2301
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Residential Property
Wildwoods Subdivision, Mt. Washington KY
Description: Lot #23 – 0.50 acre residential lot
Price: $33,500
Contact: any First Citizens Bank lender 502-957-7550 or 270-769-2301
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Residential Property
Wildwoods Subdivision, Mt. Washington KY
Description: Lot #77 – 0.58 acre residential
Price: $33,500
Contact: any First Citizens Bank lender 502-957-7550 or 270-769-2301
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Highway 44, Mt. Washington KY
Description: development tract
Price: call for information
Contact: John Pendergrass, 502-227-1668
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Fayette County
Commercial Property
505 Wellington Way, Lexington KY
Description: lot, building site
Price: $523,400
Contact: Greg Erwin 859‐552‐5416
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Commercial Property
519 Wellington Way, Lexington KY
Description: lot, building site
Price: $541,080
Contact: Greg Erwin 859‐552‐5416
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Commercial Property
531 Wellington Way, Lexington KY
Description: lot, building site
Price: $657,470
Contact: Greg Erwin 859‐552‐5416
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Commercial Property
527 Wellington Way, Lexington KY
Description: lot, building site
Price: $718,960
Contact: Greg Erwin 859‐552‐5416
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Commercial Property
535 Wellington Way, Suite 160, Lexington KY
Description: condo
Price: $301,200
Contact: Greg Erwin 859‐552‐5416
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Commercial Property
535 Wellington Way, Suite 280, Lexington KY
Description: condo
Price: $313,700
Contact: Greg Erwin 859‐552‐5416
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Residential Property
1053 Kavenaugh Lane, Lexington KY
Description: residential lot
Price: $31,000
Contact: Keller Williams Bluegrass Realty, Kitty Lane 859-260-1444
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Commercial Property
1795 Alysheba, Lexington KY
Description: 3 office condos
Price: $340,000
Contact: The Gibson Co., Greg Erwin 859-552-5416
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Commercial Property
4249 Reserve Road, Fayette County
Description: clubhouse
Price: call for information
Contact: Zach Moore, 502-227-1600
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Franklin County
Residential Property
324 Capital Avenue, Frankfort KY
Description: single family residence
Price: call for information
Contact: Greg Burton or Rick Harp, 502-227-1600
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Commercial Property
Cardwell Lane, Frankfort, KY
Description: 3 Condos, 8 development acres
Price: $925,000
Contact: Jamie Schrader 859-321-5660
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Commercial Property
115 Collision, Frankfort KY
Description: 8,700 Sq.Ft. industrial building
Price: $379,080
Contact: Greg Burton 502-227-1619
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Commercial Property
117 Collision, Frankfort KY
Description: 9,500 Sq.Ft. industrial building
Price: $439,000
Contact: Greg Burton 502-227-1619
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Commercial Property
US 421, Frankfort KY
Description: 9 acres commercial property
Price: $1,575,000
Contact: Fred Sutterlin 502-365-3840
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Commercial Property
US 421, Frankfort KY
Description: 7 1-acres commercial property tracts
Price: $3,039,000
Contact: Fred Sutterlin 502-365-3840
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Commercial Property
Kendallwood Subdivision, Frankfort KY
Description: 17 single family lots plus 6.975 acres
Price: call for information
Contact: Greg Burton or Rick Harp, 502-227-1600
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Residential Property
361 Harrodswood, Frankfort KY
Description: single family residence
Price: $184,500
Contact: Gary Adkinson, Coldwell Banker 502-227-2275
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Lot 15 The Reserve, Frankfort KY
Description: sngle family residental lot
Price: call for information
Contact: Greg Burton or Rick Harp, 502-227-1600
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Commercial Property
571 East Main Street, Frankfort KY
Description: shopping center
Price: $379,000
Contact: Trautner Real Estate, 502-223-3200
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Commercial Property
614 – 624 Commanche Trail, Frankfort KY
Description: shopping center
Price: $389,500
Contact: Gary Adkinson, Coldwell Banker 502-227-2275
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Commercial Property
US 421, Copperleaf Development, Frankfort KY
Description: 7 commercial lots
Price: call for information
Contact: Fred Sutterlin, PRG 502-365-3840
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Commercial Property
Pebblebook Subdivision, Frankfort KY
Description: development acreage
Price: call for information
Contact: Greg Burton or Rick Harp, 502-227-1600
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Residential Property
699 Cline Street, Frankfort KY
Description: single family residence
Price: $59,900
Contact: Bonnie Fint, Century 21 502-223-1600
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Residential Property
115 Brentlawn, Frankfort KY
Description: single family residence
Price: call for information
Contact: Greg Burton or Rick Harp, 502-227-1600
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Commercial Property
974 River Bend Road, Frankfort KY
Description: commercial building
Price: $825,000
Contact: Greg Burton or Rick Harp, 502-227-1600
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Residential Property
211 – 213 West Todd Street, Frankfort KY
Description: duplex
Price: call for information
Contact: Emily Catron, 502-227-1600
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Residential Property
211 – 213 New Street, Frankfort KY
Description: duplex
Price: call for information
Contact: Emily Catron, 502-227-1600
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Commercial Property
212 – 214 New Street, Frankfort KY
Description: lot
Price: call for information
Contact: Emily Catron, 502-227-1600
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Residential Property
216 – 218 New Street, Frankfort KY
Description: duplex
Price: call for information
Contact: Emily Catron, 502-227-1600
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Residential Property
1 – 3 Dogwood, Frankfort KY
Description: duplex
Price: call for information
Contact: Emily Catron, 502-227-1600
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Residential Property
5 – 7 Dogwood, Frankfort KY
Description: duplex
Price: call for information
Contact: Emily Catron, 502-227-1600
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Residential Property
118 Compton, Frankfort KY
Description: 4 plex
Price: call for information
Contact: Emily Catron, 502-227-1600
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306 Murrell, Frankfort KY
Description: single family lot
Price: call for information
Contact: Emily Catron, 502-227-1600
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Residential Property
216 Conway Street, Frankfort KY
Description: single family residence
Price: call for information
Contact: Emily Catron, 502-227-1600
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Residential Property
133 Wallace Avenue, Frankfort KY
Description: single family residence
Price: call for information
Contact: Emily Catron, 502-227-1600
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Residential Property
311 – 311 1/2 Holmes Street, Frankfort KY
Description: duplex
Price: call for information
Contact: Emily Catron, 502-227-1600
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Residential Property
350 Holmes Street, Frankfort KY
Description: single family residence
Price: call for information
Contact: Emily Catron, 502-227-1600
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Residential Property
357 Wallace Avenue, Frankfort KY
Description: duplex
Price: call for information
Contact: Emily Catron, 502-227-1600
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Residential Property
748 – 750 Hillcrest, Frankfort KY
Description: duplex
Price: call for information
Contact: Emily Catron, 502-227-1600
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Residential Property
101 Arbor View, Frankfort KY
Description: condominium
Price: $189,900
Contact: Century 21, Danny Willis 502-226-2121
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Residential Property
103 Arbor View, Frankfort KY
Description: condominium
Price: $199,900
Contact: Century 21, Danny Willis 502-226-2121
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Residential Property
105 Arbor Court, Frankfort KY
Description: condominium
Price: $199,900
Contact: Century 21, Danny Willis 502-226-2121
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Willowcrest Subdivision, Frankfort KY
Description: 16 lots
Price: call for information
Contact: Greg Burton or Rick Harp, 502-227-1600
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116 Muirfield Court, Frankfort KY (lot 4)
Description: residential lot
Price: call for information
Contact: Greg Burton or Rick Harp, 502-227-1600
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Garrard County
Commercial Property
Cobblestone Trace, Lancaster KY
Description: 186 acres
Price: $999,000
Contact: Danny Ayers 859‐792‐4025
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Jefferson County
Commercial Property
Brookshire, Section Four, Rocky Mountain Drive, Louisville KY – Photo 1
Description: 10.81 acre undeveloped site approved for 30-lot subdivision. Zoned R-4, single-family. Water, gas, electric and sewers available
Price: $344,000
Contact: any First Citizens Bank lender 502-957-7550 or 270-769-2301
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Brookshire, Section Four, Rocky Mountain Drive, Louisville KY – Photo 2
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Brookshire, Section Four, Rocky Mountain Drive, Louisville KY – Photo 3
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Residential Property
10704 Vine Hill Drive, Louisville KY
Description: 1,533-square foot home with basement in Silver Oaks, conveniently located near Taylorsville Road
Price: $199,900
Contact: any First Citizens Bank lender 502-957-7550 or 270-769-2301
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Flatrock Road, Louisville KY
Description: residential development
Price: call for information
Contact: Greg Burton or Rick Harp, 502-227-1600
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Jessamine County
Residential Property
105 Denton Court, Nicholasville KY
Description: Single Family Residence
Price: $135,000
Contact: Jonah Mitchell 859‐887‐8870
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Residential Property
501 West Brown Street, Nicholasville KY
Description: Single Family Residence
Price: $116,500
Contact: Pat Pinkston 859‐227‐1209
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Residential Property
118 Floyd Court, Nicholasville KY
Description: Townhome
Price: $52,500
Contact: Pat Pinkston 859‐227‐1209
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Residential Property
120 Floyd Court, Nicholasville KY
Description: Townhome
Price: $52,500
Contact: Pat Pinkston 859‐227‐1209
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Residential Property
122 Floyd Court, Nicholasville KY
Description: Townhome
Price: $52,500
Contact: Pat Pinkston 859‐227‐1209
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Residential Property
Lot 17 ‐ 709 and Lot 18 ‐ 713 Homestead, Nicholasville KY
Description: 2 Lots, Residential
Price: $55,000
Contact: Jonah Mitchell 859‐887‐8870
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Residential Property
105, 109, 125, 129, 133 Janice Drive and 228, 236 Lynnwood Drive, Nicholasville KY
Description: 7 Lots, Residential
Price: $25,900 each / $181,300 total
Contact: Ron Griffie 859‐266‐0451
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Commercial Property
Lots 1‐10 Forest Reserve on Tates Creek, Nicholasville KY
Description: 10 Lots, Residenial
Price: $1,200,000
Contact: Mike Schornick 502-863-2393
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Highbridge Road, Wilmore KY
Description: 5 acres
Price: $49,900
Contact: Pat Pinkston 859‐227‐1209
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Lincoln County
Commercial Property
US 150 (east of US 27), Tract 1B, Stanford KY
Description: commercial acreage
Price: call for information
Contact: Chris Thompson, 502-839-2600
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Mercer County
Residential Property
488 Highway 33 South Lot 3, Burgin KY
Description: Single Family Residence
Price: $145,000
Contact: Danny Ayers 859‐792‐4025
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488 Highway 33, Burgin KY
Description: 30.731 acres
Price: $160,000
Contact: Danny Ayers 859‐792‐4025
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Residential Property
Highway 33 South Lot 5, Burgin KY
Description: Lot, Residential
Price: $20,000
Contact: Danny Ayers 859‐792‐402
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Residential Property
Ashley Camp Road, Harrodsburg KY
Description: 2 Lots, Residential
Price: $14,000
Contact: Mike Schornick 502-863-2393
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Stone Oak Estates, Harrodsburg KY
Description: single family residential lot
Price: $30,000
Contact: Ann McDonald, Coldwell Banker, 502-227-2275
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Residential Property
5696 Louisville Road, Salvisa KY
Description: single family residence
Price: $39,900
Contact: Elizabeth Lloyd, Conway & Lloyd, 502-859-1707
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Scott County
Commercial Property
Lot 1 Demand Court, Georgetown KY
Description: Lot Commercial
Price: $134,000
Contact: Jamie Schrader 859‐321‐5660
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Commercial Property
Unit 10, The Colony, Georgetown KY
Description: 117 Lots, Residential
Price: $2,100,000
Contact: Jamie Schrader 859‐321‐5660
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Commercial Property
Unit 11, The Colony, Georgetown KY
Description: 40 Lots, Residential
Price: $800,000
Contact: Mike Schornick 502-863-2393
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Commercial Property
Unit 11B, The Colony,Georgetown KY
Description: 2 Acre Tract
Price: $135,000
Contact: Jamie Schrader 859‐321‐5660
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Residential Property
111 – 113 Elizabeth Street, Georgetown KY
Description: duplex
Price: call for information
Contact: Jonathon Mays, 502-227-1600
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Residential Property
115 – 117 Elizabeth Street, Georgetown KY
Description: duplex
Price: call for information
Contact: Jonathon Mays, 502-227-1600
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Woodford County
Commercial Property
The Shire II, Versailles KY
Description: 72 condominium pads
Price: $1,130,000
Contact: Jamie Schrader 859‐321‐5660
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Commercial Property
180 Spring Road, Versailles KY
Description: 6 town home lots
Price: $76,000
Contact: Mike Schornick 502-863-2393
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Hancock County, Indiana
Commercial Property
Stone Ridge, 1364 North County Road 200 West, Greenfield, Indiana
Description: 33 Lots, Residential and 52 undeveloped acres
Price: See Realtor
Contact: Roy Wilson 317‐409‐5857
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Commercial Property
Waters Edge, 6451 West County Road 200 North, Greenfield, Indiana
Description: 167 undeveloped acres
Price: $2,750,000
Contact: Bill Flanary 317‐639‐0463
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Campbell County, Tennessee
Commercial Property
The Neighborhood at the Willows
Parcels 1‐6, 8‐9, 11‐14, 122 and 122.01, Caryville, Tennessee
Description: Lots,Residenial/Tracts
Price: Call for information
Contact: Mike Schornick 502-863-2393
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Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 3, 2011
Why is this guy smiling? Because he took $30,000,000 of you money
And got paid $397,000 to do it
Is $398,000 a good salary in Lee’s Summit Missouri?
This is David Turner the CEO, he took $30MM in TAARP, which he owes the tax payer
David lost $42MM for the bank over the last 2 years, how is going to pay back $30MM? He can’t
David made $398k last year, not bad for having $54MM in bad loans
Hawthorn Bank Lee’s Summit, Missouri was founded in 1911. The company took $30MM in tax payer funded bailout money, which it has neglected to pay back. The company has a Texas ratio of 38%.
The company has assets of $1B with equity of $79MM.
The problem loan portfolio consists of $3MM in loans past due 30-90 days, with $51MM on non accrual and $16MM in OREO.
The company has stated equity of $79MM however, the $30MM in tax payer funding is actually debt not prefered stock. The resulting equity position is closer to $39MM. The company has $54MM in problem loans supported by $39MM in equity.
This bank could be technically insolvent.
How come they are not on the problem bank list? This place appears to have problems.
The net income was ($11MM) in FY10 and ($31MM) in FY09.
How are they going to pay back the tax payer the $30MM they borrowed? They probably can’t any time soon, as the equity position is so compromised.
It is a good thing the executive pay hasn’t been impacted.
David Turner made $398K
James Smith made $478K
Richard Rose made $191K
That is good pay for losing $42MM.
The market capitalization is $37MM or 47% of book.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 2, 2011
This is BradleyKrehbiel, he took $26MM in bailout money
Bradley hasn’t even paid interest on this money since 10/10
Bradley is on the problem bank list for “insider activities”?
Bradley lost $52MM for the company in the last 3 years
He makes $342k, that is good pay for wiping out 60% of the banks capitalization
Home Federal Savings Rochester, MN was founded in 1934. The company took $26MM in tax payer funded bailout money, which it has made no effort to repay. Then again, they haven’t made an interest payment since 10/10. Maybe that is why they are on the problem bank list. They entered into a cease and desist order from the OTC, for get this, insider activities. These guys are savvy.
Assets were $880MM with supposed equity of $68MM.
The problem loan portfolio consisted of $4MM in loans 30-90 days past due, with $93MM in non accrual.
The supposed equity position is $68MM however, the $26MM in bailout is actually debt not equity, the actual equity is probably $42MM.
Hold on, they have $97MM in bad loans with only $42MM in equity.
That would make the Texas ratio 200%.
This place is insolvent.
On top of making bad loans, this place is adept at losing money. Net income was ($30MM) in FY10, ($12MM) in FY09 and ($10MM) in FY08.
Don’t worry the executive’s still got paid well for running a 77 year firm into the ground.
Bradley Krehbiel made $376K
Jon Eberle made $231K
Susan Kolling made $154K
This group got paid pretty for wiping out 60% of the company’s capitalization.
The company has a market capitalization of 12% of book, impressive, you can’t even give this thing away.
Have come this bank is not closed down?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 2, 2011
This is Curt Hecher, he stole$27,000,000 in tax payer money which he can’t pay back
Curt hasn’t even paid interest on your money since 11/2009, Curt it is F$$cking 201
This criminal lost $56,000,000 in the last 2 years
How is this crook going to pay the tax payer back the $27,000,000 he stole?
Curt racked up $68,000,000 in bad loans
This is Curt Hecher, the CEO, he took $27MM of you money, which he can’t pay back
Curt hasn’t even paid interest on these funds since 11/09
This fat bald slob makes $272,000 to wipe out to wipe out 60% of the company’s
One would think, someone that makes $272,000 a year, could afford a decent looking wife
Curt, you lost $56MM for the back in the last 2 years, how are you to pay back $27MM? You can’t
Curt made $272k, while racking up $68MM in problem loans
Here is Curt, he stole $27,000,000 of your money, he won’t pay interest on it
Curt makes $272,000 a year
Curt can go water skiing but he won’t pay interest on the money he stole
He also wiped out the shareholders, this place is selling for 5% of book
Panhandle State Bank Saindpoint, ID was founded in 1981. The company took $27MM in government bailout funding none of which has been back. Better yet, they haven’t even paid interest on these funds since 11/09.
The company had $1B in assets with $79MM in equity.
The problem loan portfolio consists of $2MM in loans 30-90 days past due, with $26MM on non accrual and $40MM in OREO.
The stated equity is $79MM however, the $27MM in tax payer funding is actually debt. So actual equity is probably $52MM. That is not a lot of equity to support $68MM in problem loans.
This bank could be technically insolvent, why aren’t they on the problem bank list?
This place is bankrupt.
Net income was ($33MM) in FY10 and ($23MM) in FY09.
How are they going to pay back the $27MM they owe the tax payer, they can’t. As a matter of fact, they can’t even pay the interest.
At least the executive compensation wasn’t effected!
The guy on the left is John Nagel, he is credit office John made $148,000 to make $68,000,000 in junk loans
The criminal next to him is Doug Wright CFO, he gets paid $185,000 to lose $56,000,000, Doug has forgotten to pay interest on the money he stole for 4 years, Doug wiped out 60% of the stockholders equity
The crook third to the right is Jerry Smith, the President he makes $253,000 while he stole $68,000
Curt Hecher her made $272K
Jerry Smith made $253K
Douglas Wright made $185K
John Nagel made $148M
That is pretty good pay for wiping 60% of the company’s equity.
The market capitalization is $3MM, 5% of book. It looks like the investors have as much faith in this place as the government should have in getting repaid.
Do you have money in this bank?
Panhandle? The tax payer for $27MM?
Curt can you a least pay interest on these tax payer funds from your $272k salary.
Does Curt look like he is worried about paying back the $27,000,000
This is the tax payer looking for $27,000,000 Curt stole
This management team can Panhandle, they get paid a $1MM to lose $56 MM.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | 4 Comments »
May 2, 2011
Colony Bancorp Fitzgerald, GA was founded in 1976. The company $28MM in government bailout funding which it neglected to pay back.
The company has assets of $1.2B with equity of $92MM.
The problem loan portfolio consists of $16MM in loans 30-90 days past due, with $42MM on non accrual and OREO of $20MM.
The stated equity is $92MM however, when you back out the government bailout loan, the actual equity is $64MM.
That means they have $64MM in equity supporting $58 in problem loans, that is not a good ratio. That makes the actual Texas ratio closer to 100%.
Why are they not on the problem bank list? Probably because Georgia has already filled it’s quota.
Net income was ($928K) in FY10 and ($20MM) in FY09, with these strained earnings, how are they going to pay back the tax payer’s $28MM?
It looks like they can’t.
Luckily, the executive compensation remained intact.
Mr. Ross made $260K
Terry Hester made $180K
Walter Patten made $174K
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 2, 2011
This is Robert Tabas, the CEO, he took $30MM of tax payer money which he can’t pay back
Robert hasn’t even paid interst on these funds since 2/09, he has only made one interest payment
Robert has lost a $103MM for the bank over the last 3 years, who is going to pay back $30MM? He can’t
Robert makes $373k to run this place into the ground
Royal Bancorp of Pennsylvania Narbeth, PA was founded in 1963. The company took $30MM in tax payer bailout, funding which it has decided not to pay back. As a matter of fact, they haven’t paid interest on these funds since 2/09, they took the bailout money and only made one interest payment. Not a bad deal, does that mean their customers don’t have to pay interest to them. The Texas ratio is 99%. The one thing royal about this bancorp is that they are royally screwed.
The company has loans of $988M with $80MM in supposed equity.
The problem loan portfolio consists of $9MM in loans 30-90 days past due, with $65MM on non accraul and $32MM of OREO.
The government bailout funds are actually debt not equity, these funds need to be paid back, though they have made not effort to do so. The actual equity position is probably$50MM. That is $50MM supporting $74MM in bad loans!
This bank is probably technically insolvent, why are they not on the problem bank list?
Net income was ($26MM) in FY10, ($39MM) in FY09 and ($38MM) in FY08.
Based on the recent financial performance, how do they plan on paying the tax payer back the $30MM? Then again, they can’t even pay the dividends!
Rest assured, the executive compensation wasn’t impacted, despite the fact they wiped out $100MM in earnings.
Robert Tabias made $373K
James McSwiggin made $642K
Murray Stempal made $324K
Not bad pay, yet wait, they can’t even pay interest on the bailout funds?
Sounds like the tax payer is getting royally screwed.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 2, 2011
William Grant took $30MM in tax payer funding and hasn’t even paid interest on this since 8/10
He gets paid $294k to run this place into the ground
This bank survived the Great Depression, will it survive William Grant?
First United Corp Oakland, MD was founded in 1900. The company took $30MM in tax payer funded bailout money, none of which has been repaid. They also have chosen to not pay interest payments since 8/10. The Texas ratio is 37%.
The company has $1.6B in assets and $95MM in equity.
The problem debt portfolio consist of $17MM in loans 30-90 days past due, with $52MM on non accrual and $18MM in OREO.
The stated equity is $95MM however, there is $14MM in intangibles resulting in equity of $80MM. The $30MM in tax payer bailout funds is actually debt not equity, the results in equity of $50MM.
As the company has $69MM in problem loans, supported by only $50MM in equity, this bank could be technically insolvent.
Net income was ($11MM) in FY10 and ($12MM) in FY09.
How long will it take to pay back the tax payers $30MM?
At least the executive compensation was not hindered.
William Grant made $294K
Steven Lantz made $343K
Eugene Helbig made $246K
Robert Kurtz made $472K
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 2, 2011
This is Swope Montgomery, on the left the CEO, he took $31MM of your money
Swope makes $644k includes a country club membership, not bad pay for making $412MM in bad loans
Bank of North Carolina, Thomasville, NC was founded in 1991. The company took $31MM in tax payer funded bailout money, which it has neglected to repay. The Texas ratio is 31%.
The company has assets of $2B and supposed equity of $152MM
The problem loan portfolio consists of $56MM in loans 30-90 days past due, get this there are $317MM on non accrual with $39MM in OREO.
Though the stated equity is $152MM, there is $26MM in goodwill, resulting in equity of $126MM. The $31MM in tax payer funding is actually debt not equity. This results in actual equity of $95MM.
So, the bank has $412MM in bad loans supported by only $95MM in equity.
This bank is insolvent
How come this company is not on the problem bank list?
The company had net income of $8MM in FY10, $7MM in FY09 and $6MM in FY08.
How come they haven’t paid back any of the tax payer bailout?
I guess they have to make sure the executives country club fees are paid first.
Luckily, the executive compensation has not been impacted.
Swope Montgomery made $622K
Richard Callicutt made $437K
David Spencer made $371K
The compensation includes cell phones, auto expenses and country club fees.
The market capitalization is $64MM or 42% of book.
This guy and was able to “Swope” in and take $31MM in tax payer money, none of which he paid back.
At least he was able to pay himself $622K, for taking for taking tax payer money with no effort to pay it back.
This guy is called Swope for a reason, he will Swope the tax payer out of anything they will give him.
Hopefully, you don’t have money in this disaster because this thing is bankrupt, then again so it the FDIC
Swope how about paying back tax payer.
This guy is legal.
Why rob a bank when you can own one.
Do you have money in this place?
I would swope down and withdraw it
Check out the website, they have Regis on the front page, that is pathetic, not as pathetic as Swope’s video of himself
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 2, 2011
Parkvale Financial Corp. Monroeville, PA was founded in 1943. The company took $31MM in tax payer funded bailout funds.
The company has $1.7B in assets with $118MM in equity.
The stated equity is $118MM, however there is $25MM in goodwill resulting in equity of $93MM. The $31MM in tax payer bailout funds is actually debt not equity. As a result, the equity position declines to $62MM.
The bank has $62MM in equity supporting $53MM in problem loans.
This company appears to be technically insolvent, how come the are not on the problem bank list?
The executive pay hasn’t been impacted.
Robert McCarthy made $406K
Gilbert Riazzi made $130K
Thomas Odek made $110K
The company has a market capitalization of $62MM or 53% of book.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 2, 2011
Take a look at the new site
capital2risk.com
They sole $6,000,000 in you tax payer money which they won’t pay back
These clowns have $27,000,000 in bad loans and only $8,000,000 in equity, they are bankrupt!
Hold on, they essentially have no equity, $6,000,000 of equity is money they stole from the tax payer
William Parks is the fat slob on the left and John Soper is the clown on the right
These criminals haven’t even paid interest on the money they stole from you
These A$$holes run the worst bank in Cuntucky?
Don’t worry, the dopes wiped out the stockholders, the stock is de listed
Hey you fat pigs where the F$$k is the $6,000,000 you stole
Do these fat cat banksters look hungry? These two are eating well off the tax payer
Why are these boys holding hands?
The efficiency ratio is 114% these dopes lose money just opening up the doors
Check out the ROE (53%) these boys are savvy
I guess these two clowns when the overhead is higher than the NI there might be a problem, holding hands won’t solve it
Citizens Commerce National Bank Versailles, Kentucky was founded in 1996. This company took $6MM in tax payer funding and has made no effort to pay these funds back. They also have not paid interest payments on this debt.
The Texas ratio is 254%, making this place probably the worst bank in Kentucky.
For some reason this place isn’t on the problem bank list?
The company has $297MM in assets and $6MM in equity.
Problem loans are $45MM.
Hold on, there are $6MM in inequity, with $45MM in bad loans?
Here are some of the other culprits
Why are these people smiling? They stole you $$$
This bank is insolvent, why aren’t they on the problem bank list Sheila?
The stock appears to be delisted and they have forgotten to post any financial information since FY09.
This place has forgotten to put their financial statement on their website since 2009, must be busy making bad loans
This place is a disaster.
Look at these dopes, they should be drinking BEAM
Is this your bank?
Thank the F$$in Lord you got the beam!
They stole $6MM in tax payer money and don’t even pay interest on it.
They might want to drop Citizens from their name, how about Criminals Commerce?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds, Problem Bank list | 4 Comments »
May 2, 2011
John Allison
There is Randy Sims, he took $50MM in bailout money which he won’t pay back
Randy made $963k last year including a country club membership and a car allowance
Randy was well paid for having $378MM in problem loans
He is a fat cat bankster with 3 chins
Bob Birch on the right is smiling because he makes $432k
John Allsion makes $1MM, the bank for trips on his personal plan, he made 19 trips last year, that is good use of the tax payers $50MM
Centennial Bank Conway, AK was founded in 1903. The company took $50MM in tax payer funded bailout money, which it hasn’t paid back.
The company has $3.B in assets with $454MM in supposed equity.
The problem loans are astonishing. The company has $97MM in loans 30-90 days past due, get this there are $204MM that are over 90 days past due. I am thinking that these are probably non accrual loans!. Well non accrual, is $44MM with $33MM in OREO.
The stated equity position of $454MM however, the $50MM in tax payer funding is actually debt not equity. this makes the equity position $404MM.
Get this, they have $404MM in equity to support $378MM problem loans!
This place is insolvent!
How come they are not on the problem bank list?
The company had net income of $17MM in FY10, $26MM in FY09 and $10MM in FY08.
So they can’t pay back the $50 in tax payer funded bailout funds?
Rest assured, the executive compensation wasn’t hindered.
Randall Simms made $963K
Randy Mayor made $505K
John Allsion made $1MM
Robert Birch made $432K
Don’t worry this compensation included country club fees and car allowances.
John Allison’s compensation included fees for trips on his personal plane which is owned by his company Capital Buyers. He made 19 trips.
So, John Allison has this bank pay for his personal plane, but they can’t pay back the tax payer the $50MM?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 2, 2011
This is Brad Anderson the CEO, he owes the tax payer $35MM
He racked up $80MM in problem loans
Freemont Bancorporation Freemont, CA was founded in 1969. The company took $35MM in tax payer funded bailout money, that they have chosen not to repay.
The company has $2.4B in assets with $215MM in equity.
Problem loans consist of $3MM in 30-90 loans past due, with $60MM in non accrual and $18MM in OREO.
When the $35MM in tax payer debt is backed out of the equity position, the actual equity is $180MM. With $81MM in problem loans the equity position could be significantly compromised.
The company had net income of $30MM in FY10 and $16MM in FY09.
Why hasn’t this bank paid back the tax payer funding?
Tags:Non repayment of Gov. bailout funds
Posted in Non repayment of Gov. bailout funds | Leave a Comment »
May 2, 2011
This is Peter Benoist, took $31MM in TAARP money
Net income was $6MM in FY10 and ($47MM) in FY09, how are they going to pay back $31MM? Your guess is as good as mine
Peter made $534k last year
Enterprise Bank & Trust Clayton, Missouri was founded in 1988. The company took $31MM in tax payer bailout funding which it decided to not repay. The Texas ratio is 27%. Fortunately, the executives got paid.
The company has assets of $2.7M with $229MM in equity.
The problem loan portfolio consist of $2MM in loans 30-90 days past due, with $33MM on non accrual and $33MM in OREO.
Though the stated equity position is $229MM, the $31MM in tax payer funded debt, is actually debt not preferred stock. The resulting equity position is $198MM
The company’s net income of $6MM in FY10 and ($47MM) in FY09, based on this financial performance, how long will it take them to pay back the tax payer’s $31MM, sounds like eternity.
Don’t worry, at least the executive’s haven’t had to have their pay impacted.
Peter Benoist made $534K
Frank Sanfilippo made $270K
Linda Hanson made $325K
John Barry made $437K
These people got paid pretty well in FY10, how come they have decided to not repay the tax payer bailout funds?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
May 2, 2011
This George Lee the CEO, he took $41MM in tax payer money, which he won’t pay back
Net income was ($3MM) in FY10 and ($2MM) in FY09, George, who the hell are you going to pay back the $41MM
George made $507k last year, not bad for having $87MM problem loans
Metrocorp Bancshares Houston, Tx was founded in 1987. The bank took $41MM in tax payer bailout funds which it has decided it doesn’t care to pay back.
The company has $1.1B in assets, with $127MM in equity.
Problem loans consist of $16MM in past due loans that are 30-90 days delinquent, with $54MM in non accrual, and $17MM in OREO.
This results in a Texas ratio on 48%.
The company had net income ($3MM) in FY10 and ($2MM) in FY09.
At this rate, how long will it take them to repay the tax payer $41MM, how does eternity sound!
The stated equity is $127MM, however, the $45MM in tax payer bailout is actually debt not equity, resulting in true equity of $82MM.
So this place has problem loans of $87MM, supported by $82MM in equity.
This bank is probably technically insolvent!
Why aren’t they on the problem bank list?
Have no fear, at least the executive pay hasn’t been compromised.
George Lee made $507K
David Choi made $363K
David Tai made $382K
They are getting paid pretty well, how are they going to pay back the $45MM in tax payer bailout funds?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, problem bank list
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May 1, 2011
Reliance Bancshares Frontenac, MO was founded in 1999. The company took $40MM in tax payer funded bailout money, which they have chosen to not pay back. They also decided to stop paying interest on these funds. The Texas ratio is 129%, one on the the worst in the state. Why isn’t this company on the problem bank list. I guess if you live in the show me state, you don’t have to show the tax payer the debt or interest they took.
The company has $1.2B in assets and $96MM in equity.
The problem loan portfolio consists of $26MM in loans 30-90 days past due, with $159MM in non accrual and $26MM in OREO.
The stated equity is $96MM however, the $40MM that they took in tax payer money is debt not equity. This results in and actual equity position of $56MM.
Hold on, they have $56MM in equity with $211MM in bad debt.
This place is bankrupt, why aren’t they on the problem bank list?
The company net income of ($31MM) in FY10 and ($21MM) in FY09.
Based on these financial results, how are they going to pay back the tax payer’s $40MM?
It’s a good thing the executives who ran this place into the ground have not been impacted.
Allen Ivie made $308K
Jerry Von Rohr made $347K
Dale Oberkfell made $236K
Daniel Jasper made $191K
The company has a market capitalization of $26MM or 25% of book, not bad for an insolvent company.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 1, 2011
This Stephen Rowand, he took $66MM in bailout money
Stephen hasn’t even paid interest on this money since 8/10
Stephen, your bank lost $235MM over the last 2 years, how are your to pay back $66MM to the tax payer? You can’t
Stephen made $466k last year, not bad pay for making in bad loans and wiping out a 120 year old bank
Greenville Bancshares Greenville, TN was founded in 1890. The company took $66MM in tax payer funded bailout money, which the decided they don’t want to pay back. They also decided that they didn’t want to pay dividends on these funds as they haven’t made an interest payment on this debt since 8/2010. It must be nice to get free tax payer funds and then even not pay interest on this debt. What would happen if you decided that you didn’t want to pay interest on one on their loans? I’ll tell you what will happen if you are past due, check out their website for foreclosed properties, they will kick you to the curb.
The company has assets of $2B in assets and $137MM in equity.
The problem loan list is impressive. They have $23MM in loans past due 30-90 days, $5MM in loans 90 days past due, with get this, $144MM on non accrual and $59M of OREO.
Get this, they have $95MM in construction loans on non accrual. This place has it figured out
These people are also pretty savvy at losing money. Net income was ($80MM) in FY10 and ($155MM) in FY09. Wow, they were able to wipe out 64% of the equity.
How is this $66MM tax payer funded loan getting paid back?
These guys are good, they were able to destroy a 121 company in 2 years.
The stated equity position is $137MM however, they took $66MM in tax payer funding. This is debt not equity, this makes the actual equity $71MM.
This place has $231MM in bad debt with $71MM in supposed equity?
This company is bankrupt!
Why are they not on the problem bank list?
Sit tight, at least the executives are not losing money. Somebody is showing them the green.
Stephen Rowand made $466K
Kenneth Vaught made $379K
Steve Drake made $188K
William Adams made $172K
You can probably live pretty well on $466k in Tennessee.
Steven Rowand, you stole $66MM from the tax payer and you have refused to even pay interest. You wipe out the shareholders, bankrupt the company and pay yourself $466k. That is one good rally.
This clown should be in jail.
Better get back to Tennessee Jed. They pay well for running a 121 year old company into the ground.
The market capitalization is $26MM or 19% of book. Not bad for an insolvent company.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
May 1, 2011
This Joe Turner the CEO, he took $61MM of your bailout money, which he won’t pay back
Joe ran up $217MM in bad loans
Joe made $527k last year which includes a country club membership and sporting tickets, not bad pay for wiping out a 88 year old bank
Great Southern Bancorp Springfield, Missouri was founded in 1923. The company took $61MM in tax payer funded bailout money, which it has made no effort to repay.
The company has $3.4B in assets and $304MM in equity.
The problem loan portfolio is epic. They have $37MM in loans past due 30-90 days, with $40MM over 90 days past due, there are $81MM on non accrual and OREO is $59MM. That’s $217MM?
The stated equity is $304MM however, the $61MM in tax payer bailout funding is debt not preferred stock, so the actual equity is $237MM.
The bank has $237MM in equity to support $217MM in bad debt, that is a scary proposition!
How are they going to pay this $61MM back?
At least the executive compensation remained intact.
William Turner made $372K
Joseph Turner made $521K
Rex Copland made $228K
Steven Mechon made $331K
Rest assured, the salaries included country club dues and sporting tickets. They have the funds to go to the country club but not pay back the taxpayer.
The market capitalization is $278MM, not bad considering the equity position is essentially wiped out.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
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May 1, 2011
This is Michael Rechin, is the CEO who took $107MM of tax payer money
Michael, your bank made $11MM last year, how are going to pay back $107MM?
Michael made $625MM for running a 118 year old bank into the ground
First Merchants Bank Muncie, Indiana was founded 1893. The company took $107MM in tax payer funded bailout funding, none of which it has made any effort to pay back.
The company has assets of $4B and equity of $566MM
Problem loans consist of $22MM that are 30-90 days past due, with $106MM on non accrual and $20MM in OREO.
Thought the stated equity position is $566MM, the $107MM in tax payer funded bailout is actually debt not equity. The actual equity is $459MM, which needed to support $155MM in problem loans.
The company has net income of $11M in FY10, based on this financial performance how long will it take them to pay back the $107MM to the tax payer, how does eternity sound.
Fortunately, the executive compensation has not suffered.
Michael Rechin made $625MM
Mark Hardwick made $395MM
Michael Stewert made $393MM
Robert Conners earned $305MM
Wow $625K must go pretty far in Indiana! Not bad pay for wiping out a company that has been around for 118 years
The market capitalization is $239MM or 42% of book.
They have 79 branches and only made $11MM last year, I am thinking the efficiency ratio is pretty weak
Again, how are they going to pay back $107MM?
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
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April 30, 2011
J Robert Young where is the $63MM you took, it is probably in your pocket?
Alpine Dank Glenwood Springs, CO was founded in 1934. The company took $63MM in tax payer bailout funding which it has neglected to repay. The Texas ratio is 41%. This could be the worst bank in Colorado.
They should hire this guy as CEO, he has figured out
This mortgage broker, doesn’t have a mortgage license, he does have a medical marijuana license
You can find this guy here
The company has $1.8B in assets with a $1B in loans and $209MM in equity.
The bank has $23MM in loans past due 30-90 days, with $86MM on non accrual and $28MM in OREO.
The stated equity was $209MM however, the $63MM in tax payer debt they have chosen not to repay, is actually debt not equity. The actual equity is $146MM.
They have $109MM in bad debt supported by $146MM in equity.
This bank is probably technically insolvent
Net income was ($48MM) in FY10.
How are they going to pay back the $63MM, owed to the tax payer?
The question is why aren’t they on the problem bank list?
Who was making these loans Hunter S .
This place is Gonzo
Fear and loathing, if you are sitting on this portfolio.
The spring runoff is going to take this thing into Lake Powell.
Hopefully you don’t have your money in this debacle.
No use suing a dispensary, your problem loan portfolio is looking Dank?
Maybe this is part of their “green” initiative.
Dank is not paying the tax payer back the $63MM you took.
Do you have money in this bank, they are bankrupt.
Check the website out, they won’t even tell you who the management team is.
Who runs this place?
This thing should be converted to a dispensary, maybe they would make money.
J . Robert Young inducted into the Colorado business hall of shame, for stealing $63MM of your tax payer money.
J. Robert Young, where is the $63MM you stole from the tax payer, this clown should be in jail!
.
This bank has not even paid interest on these funds in over year
Tags:deliquency, executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | 6 Comments »
April 30, 2011
This is John Dean, the CEO, he took $132 of you money
John hasn’t even paid interest on the money since 5/09
He also got the bank on the problem bank list
John you lost $718MM over the last 3 years, holy s$$t, you wiped out 700% of the equity
John got paid $566k for wiping this place, not bad
Central Pacific Financial Honolulu, Hawaii was founded in 1954. The company took $132MM in tax payer bailout funding, which it has neglected to repay. In addition, it has failed to make interest payments on this debt since 5/09. The bank has entered into a written agreement with the FDIC for unsound lending practices. They were also cited for these practices in 2006. This has allowed them to become a member of the problem bank list. They have a Texas ratio of 79%, which makes them probably the worst bank in the state.
The company has $3.9B in assets with $2B loans and $196MM in equity.
The problem loan portfolio consists of $16MM in loans that are 30-90 days past due, get this they have $300MM that are on non accrual and $57MM in OREO.
Besides being pretty good at making bad loans, these guys are really good at losing money. Net income was ($259MM) in FY10, ($321MM) in FY09 and ($138MM) in FY08. Wow, they lost $718MM in just 3 years.
So, they owe the tax payer $132MM, and how are they going to pay this back?
These group is stellar at destroying equity. The equity position went from $526MM in FY08 down to $66MM in FY10, that is a 700% decline. That takes a lot of effort, to wipe out the entire equity base in only 3 years. This team was able to destroy a 57 year firm in 3 years!
Though the stated equity is $66MM, the $132MM they owe the tax payer is debt not equity. That would leave the equity position at ($66MM). They have ($66MM) in equity backing $316MM in distressed debt?
This place is bankrupt, why hasn’t the FDIC shut this bank down?
This bank is insolvent!
At least the executive compensation hasn’t been impacted.
John Dean made $566K
Ronald Migita made $360K
Dean Hirata made $360K
Catherine Ngo made $360K
Blenn Fugimoto earned $261K
The market capitalization was $23MM, not bad for having a negative equity position.
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
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April 30, 2011
Jimmy Tallent, the CEO took $180MM in bailout money
Jimmy hasn’t paid interest on these funds since 11/10
Jimmy you lost $647MM over the last 3 years, you got talent
Jimmy how are you to pay $180MM back?
Jimmy got paid $1.4MM to wipe this place out
United Community Bancshares Blairsville, GA was founded in 1950. The company took $180MM in tax payer money, which it has neglected to pay back. As a matter of fact, they haven’t even made a dividend payment on these funds since 11/10. The question is why isn’t this company on the problem bank list?
They have assets of $7B, with equity of $635MM.
The problem loan portfolio is staggering. They have $53MM in loans past due 30-90 days, with $106MM on non accrual and get this, $174MM in OREO.
They are also adept at losing money. Net income was ($345MM) in FY10, ($238MM) in FY08 and ($64MM) in FY08.
By the way, they also lost $142MM in Q1 2011!
This allowed them to wipe out 64% of the equity in 3 years.
How are they going to pay the $180MM in tax payer funding back?
Though the stated equity it $635MM, the funds owed to the tax payer is debt not equity, equity is $455MM. They have $455MM backing $333MM in bad loans, this place is technically insolvent. Why hasn’t the government shut them down, then again, I am thinking they should probably on the problem bank list?
Fortunately, the executive pay was not impacted.
Jimmy Tallent made $1.4M
Guy Freedman made $259K
Rex Schuette made $379K
Glenn White made $350K
Jimmy’s got a talent for losing money.
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
April 30, 2011
This is Kathleen Nash
She took $300,000,000 of your tax payer money and has not made any effort to even pay interest since 2009
She makes $1,300,000, a year including a country club membership, probably not a bad salary for Flint
F$$cking Kathleen won’t even pay interest on the money she stole from the tax payer
Kathleen, I guess it proves that is not just fat white guys that can wipe out banks
She runs one of the worst banks in the country
She is one hot looking bankster
Citizens Republic Bank Flint, MI was founded in 1871. The bank accepted $300MM in tax payer funded bailout money, non of which has been repaid. They also have chosen not to make any interest payments on these funds since 11/09. I guess if you are a bank you don’t to pay any interest on tax payer debt, why does the tax payer have to pay interest on it’s bank debt? They are also on the problem bank list.
The Moody’s rating is Ba3 negative; D-1 Ba3 negative, making it one of the worst banks in the country.
Well, doing a 1-10 reverse stock is always a positive sign, they wiped out the investors again.
Cathleen Nash made $1.3MM which is not probably not a bad salary in Flint, MI. Then again, you stole $300MM in tax payer money, which you have decided to not pay back.
The company has assets of $9.7B with $6B in loans and $1B in equity.
The problem loan portfolio consists $55MM in loans 30-90 days past due, with $196MM on non accrual and $40MM in OREO.
Here is Lisa the CFO she makes $544,000
Not only is bank good at making bad loans, they excel at losing money! Net income was ($314MM) in FY10, ($533MM) in FY09 and ($405MM) in FY08. They were able to lose $1.2B in the last three years alone. They lost another $67MM in Q1 2011. At this rate maybe they can bankrupt this thing by year end.
This performance allowed them to wipe out 58% of the equity, in 3 years.
The equity position is abysmal. The stated equity is $1B however, there is $318MM in goodwill, leaving equity of $682MM. The $300M tax payer funding is not equity, it is debt that needs to be paid back. The resulting equity position is $382MM. The company has at least $250MM in bad loans.
This bank is probably technically insolvent, how come they haven’t been shut down, or at least put on the problem bank list, because believe me this place has problems!
At least the executive compensation hasn’t been impacted. These people got paid well to lose a $1B.
Cathleen Nash made $1.3MM
Lisa McNeely made $544K
Mark Widowski made $500K
Judith Klawinski made $480K
Charles Christy made $232K
Thomas Gallagher made $409K
It should be noted that this compensation includes country club fees. Hopefully, the $300MM in tax payer funding is being used to pay the country club fees. These people need to relax at the club, it is stressful losing that much money.
The market capitalization is $361MM, 33% of book. That is actually pretty rich for this bankrupt entity.
They lost another $68MM in Q1, again, how are the going to pay the $300MM back?
Maybe they can at least use some of the country club fees to make interest payments?
Cathleen Nash gets paid pretty well for destroying a 140 year old institution.
Do you have money in this bankrupt disaster?
Don’t worry it is insured by the FDIC, hold on they are bankrupt also.
So this company pays Cathleen Nash $1.3MM to lose $1.2B
Check out the shareholder meeting in May, they are going to reinstate dividend payments. They just don’t tell you when.
At least the country club fees are paid by the tax payer.
They stated that they want to repay TAARP by 2014. How, you lost a $1B, how are you going to pay back $300MM.
They are working on expense management?
How about getting rid of Kathleen Nash and her team that destroyed this company, or at least stop having the taxpayer fund their country club fees.
Kathleen Nash makes $625 an hour to lose $1.B, what is the average wage in Flint?
She steals more in an hour than the average person makes in a week.
This disaster is being propped up with tax payer money
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list, under capitalized | 2 Comments »
April 29, 2011
This is Michael Scudder, the CEO, he took $193MM in bailout funding
The bank lost $19MM last year, how are they going to pay back $193M
Michael made $1.7MM last year
First Midwest Bank Itasca, Ill has excepted $193MM in tax payer bailout funding, which it has made no effort to pay back.
The company has assets of $8B with equity of $1B.
Net income was ($19M) in FY10. At that rate, it might take awhile to pay the tax payer back the $193MM.
At least the executive compensation was not hurt.
Michael Scudder made $1.7MM
Thomas Schwartz made $1.1MM
Paul Clemens made $579K
Victor Carapella made $663K
Maybe they used the $193MM to pay the executive salaries?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
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April 29, 2011
Zion’s BankCorp Salt Lake City, UT was founded in 1873. They have taken $1B in tax payer bailout funding which, they have chosen not to back. This might be due to staggering loses they are experiencing.
The company has $51B in assets with $6.5M in equity.
Problem loans consist of $147M in loans past due 30-90 days, with $538 on non accrual and $91 of OREO.
The bank generated phenomenal losses in the past 3 years. Net income was ($42MM) in FY10, ($1,234MM) in FY09 and ($290MM) in FY08.
Based on this stellar performance, how are they going to pay the tax payer’s $1b back?
The stated equity is $6.5B however, there is $1B in goodwill. Also, the tax payer bailout funding isn’t it is debt. So the actually equity position $4.5B
At least the executive pay hasn’t been effected!
Harris Simmons made $1.8MM
Doyle Arnold made $1MM
Kenneth Petersen made $1.9MM
Scott Anderson made $1MM
David Blackford made $1MM
That’s pretty good pay for losing $1.5M over the last 3 years. How much would they get paid if they actually made money?
I would hate to see their tithing statements.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
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April 29, 2011
This Terrance McCarthy, CEO, he took $295MM in tax payer money
Terrance you lost $824MM over the last 3 years, how are you going to pay back $295MM?
Terrance your bank is on the problem bank list
You have $496MM in problem loans
Terrance makes $500k a year for this performance
First Banks Crouer, MO was founded in 1906. The company took $295MM in tax payer funded bailout money, which it has made no effort to pay back. After recieving this funding, the company has only made one dividend payment back in May 2009. The company is on the problem bank list, as it entered into a written agreement with the Fed on 4/1/10 for unsound banking practices. Maybe the Fed should put this agreement in place before they gave them $295MM, which they can’t pay back.
The company has $7.3B in assets with $4.3B in loans and $693MM in equity.
The problem loans are staggering. There are $103MM in loans past due 30-90 days, get this, there are $444MM on non accrual and $140MM in OREO. These problem loans should be enough to wipe out the remaining equity.
Hold on, this group mastered the art at losing money. Check this out, net income was ($178MM) in FY10, ($405MM) in FY09 and ($241MM) in FY08. These guys doesn’t mess around, $841MM in losses in 3 years, that takes effort.
This allowed them to destroy 90% of the equity
Though the stated equity is $693MM, when you back out the $295MM in tax payer bailout funding which is debt not equity, the actual equity is $400MM. However, they have $589MM in problem loans supported by $400MM in equity, that is a scary proposition.
This place is bankrupt, why hasn’t the regulators shut them down. There is no way in hell the government is getting the $295MM back, they can’t even make a dividend payment.
This is a third generation bank? It looks like James Dierberg was successful at running this 100 year old institution into the ground!
James Dierburg made $144K
Terrance McCarthy made $500K
Lisa Vansicle made $230K
Christopher McLauglin made$250K
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
April 29, 2011
Steven Lewis, left, took $65MM in TAARP money
Steven you lost $38MM over the last 2 years, how are you going to pay back $65MM?
Steven got paid $381k
Don’t worry, he wiped the stock holders out also, the stock is de listed and selling for a 11% of book
First Place Financial Corp. Warren, Ohio was founded in 1949. The bank took $65MM in tax payer bailout funding, which it has neglected to pay back.
The company has assets of $3.1B, loans of $2B and equity of $267MM.
The problem loan portfolio consists of $43MM in 30-90 day past due loans, there are $107MM on non accrual with $30MM in OREO.
Net income was ($26MM) in FY10 and ($12MM) in FY09.
Based on the recent financial performance, it is difficult to tell how the company will be able to pay back the $65MM to the tax payer.
If the $65MM in bailout funding is backed out of the equity base, as it is actually debt not equity. The actual equity position would be $202M. With $150MM in bad debt, the equity position could easily be wiped.
Why isn’t this company on the bad bank list?
This place appears to be technically insolvent.
Luckily, the executive compensation has not been effected.
Steven Lewis made $381K
David Gifford made $199K
Albert Blank made $277K
Kenton Thompson earned $231K
That is pretty good pay for a management team that has wiped out 30% of the company’s equity over the last 3 years.
Steven Lewis is in first place making $381MM, getting $65MM in tax payer funding and not paying it back, as well as losing $89MM in 2 years, racking up $150MM in bad loans, while wiping out a 62 year old bank. Now this guy is in first place!
The stock is in the process of being delisted.
The market capitalization is $29MM, that’s 11% of book. The investors have about as much confidence in this group, as the tax payer does in getting repaid.
For some reason, I am thinking this company is not in first place!
Do you have money in this bank?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
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April 29, 2011
Cathay Bank Los Angeles, CA was founded in 1962. The company took $220MM in tax payer funded bailout money, none of which has been paid back.
The company has assets of $10B, with $6B in loans and $1.5B in equity.
Problem loans consist of $78MM in loans 30-90 days past due,with $288MM on non accrual and $77MM in OREO.
The company had NI of $14MM in FY10 and ($61MM) in FY09.
Based on recent financial performance, it is unclear how many years it will take for the company to repay the tax payer.
Fortunately, the executive compensation was not effected.
Dunson Cheng made $1MM
Peter Wu made $444K
Anthony Wang made $319K
Irwin Wong was paid $252K.
Based on their return to profitability, it is unclear why the bank has made no attempt to pay back the tax payer funding.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
Posted in executive compensation, Non repayment of Gov. bailout funds | Leave a Comment »
April 29, 2011
This Allen White, he took $82MM in TAARP
Allen made $3.3MM last year including a country membership
Is this guy a fat cat banker or what
Plains Capital Corp. Lubbock, TX was founded in 1955. It took $82MM in tax payer funded bailout money, which it has made no effort to pay back.
The company has $5.2B in assets with $3.5B in loans and $592MM in equity.
Problem loans consist of $23MM in 30-90 day past due loans, with $124MM on non accrual and $23MM in OREO.
NI was $50M in FY10 and $48MM in FY09.
It is unclear why they have made no effort to pay back the tax payer.
At least the executive compensation remains strong.
Allen White made $3.3MM
Allen Custard earned $592K
John Martin was paid $174K
Hill Feinberg made $1.4M
Roseanna McGill made $1MM
Jeffrey Schaffer made $1.1MM
James Huffines was paid $1.1M
The compensation includes car allowances and country club fees. These people pay the country club fees but can’t pay back the government!
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
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April 29, 2011
This William Enloe, he took $37MM in TAARP money
His bank is on the problem bank list
William makes $384K
Los Alamos National Bank Los Alamos, NM was founded in 1963. The company took $37MM in tax payer bailout funding which it has failed to repay. The bank is also on the problem bank list as it entered into a formal agreement with the OCC on 11/26/10 for unsound lending practices. The Texas ratio is 38%.
The company has $1.5B in assets with $1.1B in loans and $155MM in equity.
The problem loan portfolio consists of $13MM in loans that are 30-90 days past due, with $50MM in non accrual loans and $21MM in OREO.
The equity position appears strained. If the $37MM in tax payer bailout funds are backed out of the equity base, as this is debt which needs to be paid back not equity. The actual equity is $118MM, with problem loans of $60MM-$80MM, the equity base could quickly be wiped out.
It is unclear on how long it will take to pay back the $37MM in tax payer funding based on the recent financial performance.
The good news is the executive compensation hasn’t been effected.
William Enloe made $384K
Steven Wells was paid $263K
Daniel Bartholomew earned $169K
This problem debt is a ticking A bomb
Do you have money in this place, you might want to look for a bomb shelter.
So how does William Enloe get paid and the tax payer doesn’t?
As he has been involved in unsound lending practices.
Tags:default, executives paid despite non payment of bailout fund, FDIC, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
April 29, 2011
This Thomas Hood, he took $57MM in TAARP
Thomas racked up $229MM in problem loans
Thomas makes $354k
First Financial Savings and Loan Charleston, SC was founded in 1934. The bank has taken $57MM in tax payer bailout funding, which it has yet to repay. The Texas ratio is 47%.
The company has $3.25B in assets, $2.5B in loans and $284MM in equity.
The problem loan portfolio consists of $39MM in loans 30-90 days past due, with $190MM in non accrual and $21MM in OREO.
Net income was ($29MM) in FY10.
The stated equity position is $284MM however, the $57MM in tax payer funding is actually debt, when this is backed out of the equity position, equity is actually $227MM. As the company has $229MM in problem loans, supported by only $227MM in equity, the equity position could quickly become deleted.
This place could be effectively insolvent based on the problem loans in relation to the equity position.
It is unclear how the tax payer funded loan will be repaid, based on recent financial performance.
Fortunately, the executive compensation has not been impacted.
Wayne Hall made $293K
Blaise Bettendorf was paid $153K
Thomas Hood made $354K
Richard Arthur earned $276K
James Hall made $272K
The market capitalization is $189MM.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
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April 29, 2011
This is Carol Nelson, she took $37MM bailout money
Carol hasn’t even paid interest on this money since 8/09
Carol also got this on the problem bank list
Carol, you lost $97MM in the last 2 years, how are you going to pay back the $37MM?
She eroded the capitalization by 176% in 3 years, talk about a cascade
Carol makes $274k a year
Cascade Financial Corp. Everett, WA was founded in 1916. The company took $37MM in tax payer funding that it has made no effort to pay back. Then again, they have only made 2 dividend payments, that last of which was 8/09. The company is on the problem bank list as it entered into a consent agreement with the FDIC on 7/15/10. Maybe the regulators should have done this before they gave them $37MM. The Texas ratio is 76% one of the highest in the state.
The company has $1.5B in assets with $967M in loans and $58MM in equity.
The problem loans consist of $3MM in past due loans 30-90 days, non accrual were $70MM with OREO of $34MM.
Net income is stellar at ($25MM) in FY09 and ($72MM) in FY10. Cascading is what these earnings are doing.
The stated equity position of $58MM is incorrect. The actual equity is approximately $21MM. When you back out the tax payer bailout of $37MM, as this is debt not preferred stock, the capital base erodes. Effectively they have $21MM in equity supporting $73MM in problems loans.
This place looks insolvent, how are they going to pay the $37MM in tax payer funds back?
At least the executive compensation hasn’t suffered.
Carol Nelson made $274K
Steven Erickson made $126K
Robert Pisotell made $156K
These people get paid pretty well to lose money.
These guys were able to erode the equity base from $160MM in FY08 to $58MM in FY10, that is a 176% decline, not bad for 3 years.
Tags:deliquency, executives paid despite non payment of bailout fund, FDIC, insolvent, Non repayment of Gov. bailout funds, problem bank list
Posted in executive compensation, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
April 29, 2011
That is Steven Bangert on the left, he took $64MM in TAARP
Steven you lost $110MM in the last 2 years, how are you going to pay back $64MM?
Steven makes $1MM a year
Colorado Business Bank Bank, Denver CO was founded in 1978. They took $64MM in tax payer bailout funding which they have neglected to pay back. The Texas ratio is 17%.
The company has $2.5B in assets, $1.5B in loans with $210MM in equity.
Problem loans consist of $4MM in loans 30-90 days past due, there are $49MM in non accrual with $8MM in OREO.
Net income was ($27MM) in FY10 and ($83MM) in FY09.
It might be tough paying back the $64MM in bailout funds based the recent financial performance.
The equity position is actually $146MM as the $46MM in bailout funding is debt not preferred stock. Prefered stock doesn’t have to get paid back, this $64MM in tax payer funding does. Though, this bank appears incapable of making any repayments. Also, the non accrual loans have the potential of wiping out another 30% of the equity!
The good thing is the executive compensation has not been impacted by this debacle.
Steven Bangert made $1MM
Jonathon Lorenz made $694K
Lyne Andrich was paid $529K
Richard Walton made $541K
Bruce Callow earned $342K
These people get paid well for wiping out 25% of the company equity in 3 years.
Again, how are they going to pay back the $64MM to the tax payers that they took?
Hey Steven, where is the $64MM? In your pocket.
Is this your bank, better head for the divide.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
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April 29, 2011
Sterling Financial Spokane, WA was founded in 1981. They bank took $300MM in tax payer bailout funding, which it has made no attempt to repay. The bank has made only one dividend payment on 5/09 and haven’t made another one since. The Texas ratio is 64%, it is one of the worst banks in the state. The question is why are they not on the problem bank list, because this place has problems. “Sterling Financial”?
The company $9.5B in assets, $5.6B in loans and $973M in supposed equity.
The problem loan portfolio consists of $43MM on past due loans 30-90 days, get this, there are $744MM on non accrual, with OREO of $161MM.
These guys are also adept at losing a lot of money. Net income was ($324MM) in FY08, ($830MM) in FY09 and ($206MM) in FY10. They made an admirable attempt at wiping out the whole equity base.
The actual equity is actually $673M when you back out the tax payer bailout from the equity base, as this debt not equity.
Wow, they have $787MM in problem loans with $673MM in capital, this place is insolvent.
The question is why hasn’t it been shut down or at least put on the problem back list?
How are they going to pay the tax payer back the $300MM, that is what they lose every year.
Rest assured, the executive compensation hasn’t been impacted, these guys get paid good money to lose hundreds of millions of dollars.
Gregory Seibly made $669K
Daniel Byrne made $762K
Ezra Eckhardt was paid $338K
David Pillo “earned” $1.2MM
Debbie Steck made $620K
Don Costa made $622K
This group gets paid well for destroying shareholder value.
Hold on, the market capitalization is $1B. I guess the investors don’t realize that this company probably has no equity.
How is the $300MM tax payer bailout getting paid back?
Sterling is the operative word for this bank.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
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April 29, 2011
This is William Skoglund, took $67MM in TAARP funding
William you lost $149MM during the last 2 years, how are you to pay back the $67MM?
William you have $261MM in problem loans
William makes $805k a year
Old Second Bancorp Aurora, Ill was founded in 1887. The bank took $67MM in tax payer bailout funds, which it has made no effort to pay back. The Texas ratio is 109%, making it the second worst bank in the state. It is shocking that this company is not on the problem bank list, because this place has problems.
The company has $2.1B in assets with $1.6B in loans and $186MM in supposed equity.
The problem loan portfolio is staggering. There are $14MM in loans 30-90 days past due, with $247MM on non accrual and $75MM in OREO.
These bankers are also adept at losing money. Net income was ($54MM) in FY09 and ($95MM) in FY10.
If you backed out the $67MM in tax payer bailout funding, as this is a loan not equity. The equity position is actually $119MM. They have $261MM in bad loans supported by $119MM in equity. Though based on the historic performance, they should be able to wipe most of this out by year end.
This bank is solvent.
What are the chances of the tax payer getting their investment back, zero!
The one positive thing is the executive compensation was not impacted. It is important that these guys are well paid, in order that they are able to continue to bankrupt a 124 year old institution.
William Skoglund made $805K
Douglas Cheatham was paid $409K
James Eccher made $496K
Rodney Sloan earned $340K
That is good pay for losing $149MM in 2 years. It is important that the bank pays this management team well so they don’t leave.
The market capitalization is $16MM, they are selling at 9% of book, stellar.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
Posted in Banking, executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | Leave a Comment »
April 28, 2011
This is Terry Turner he took $100M in bailout money
Terry you lost $52MM in the last 2 years, how are you going to pay back $100MM?
Terry made $1MM last year
Pinnacle Financial Nashville, TN was founded in 2000. The company accepted $100MM in government bailout funding which it hasn’t returned. Based on it’s financial performance, it is unclear how they will ever repay this tax payer bailout.
The company has $4.9B in assets, with loans of $3B and equity of $685MM.
The problem loan portfolio consists of $9MM in loans 30-90 days past due, with $81MM on non accrual and $59MM in OREO.
Net income was ($21MM) in FY10 and ($31MM) in FY09. It might be tough to pay back the $100MM tax payer bailout with these kinds of losses.
Net income in Q1 2011 was $2MM, if one annualized this performance, they could have this paid back in 22 years.
Rest assured the executive compensation was not effected in FY10.
Terry Turner made $1MM
Robert McCabe was paid $1MM
Hugh Queener earned $522K
Harold Carpenter made $509M
Harvey White made $385K
Wow, those are pretty good salaries for losing $50MM in the last two years. What would they get paid if they actually made money?
If this place is the Pinnacle, what does the trough look like?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
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April 28, 2011
This is Van Duekman, he took $100,000,000 in bailout money which he won’t pay back
He made $718k last year
They might as hire this guy to run the place he can’t be any worse than Van
First Busey Bank Champaign, Ill was founded in 1946. The bank took $100MM in tax payer funded bailout money and has made no effort to repay the tax payer. The Texas ratio was 16%.
The company has $3.5B in assets with $2.2B in loans and $378MM in equity.
Problem loans consisted of $26MM in loans 30-90 days past due, there are $83MM in non accrual and $90MM in OREO.
Net income was $23MM in FY10 and ($317MM) in FY09.
The equity position is actually $278MM when you back out the $100M in the tax payer loan, this is debt not equity. The high level of problem loans could effectively wipe out the equity base.
It is unclear how this bank will ever pay back the $100MM to the tax payer.
Don’t worry at least the executive compensation has not been impacted in FY10.
Van Duekman was paid $718K
Barbara Harrinton made $280K
Robert Plecki earned $329K
David White made $308K.
At $718k a year and a $100MM in tax payer money, Van Duekman is drinking some champagne.
The market capitalization was $486MM. This seems high based on the high levels of problem loans.
The question is when are they going to start paying back the tax payer funding, maybe they could use the $23MM in earnings from FY10 to start repaying this debt. How about if the executives take a pay cut!
Do you have money in this bank?
Tags:executives paid despite non payment of bailout fund, FDIC Bankrupt, foreclosure, insolvent, Non repayment of Gov. bailout funds
Posted in executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds | 2 Comments »
April 28, 2011
Wonder why Mark is bald? He lost $239,000,000 in the last 3 years and destroyed a 121 year old bank.
With a salary of $7808,00 a year, he probably could afford Hair Club for Men!
He took $124,000,000 of your money and made $788,000
Would you trust Mark with your money?
This criminal stole $124,000,000 of your money
This is Mark Grescovich, he took $124MM in you tax payer funded money which he won’t pay back
He gets paid $788k to run this place into the the ground
Banner Bank Walla Walla WA was founded in 1890. The bank took $124MM in tax payer bailout funding and has made no effort to repay this debt. The Texas ratio is 41%. It is unclear why they aren’t on the problem bank list because they have serious problems.
Stay connected to your cash, these clowns stole $124,000,000 of your money which they won’t pay back
These Ah$$ls are connected to your cash
This is Lloyd Baker CFO, he took $124,000,000 of your money
The company has $4.1B in assets with $3.1B in loans and $492MM in supposed equity.
Problem loans consist of $26MM in loans 30-90 days past due, with $190MM on non accrual and $99MM in OREO.
It gets even worse when you look at their operating performance. Net Income was ($136MM) in FY08, ($43MM) in FY09 and ($60MM) in FY10.
How are they going to pay the $124MM tax payer bailout back?
Paul Folz on the left makes $381,000 a year he wiping out a 100 year old bank
When you back out the $124MM in tax payer funding from the equity position. Unfortunately, this actually isn’t equity it is debt, remember this is a loan from the tax payer. The actual equity is closer to $368MM.
They have $368MM in equity with $315MM in problem loans, they are looking insolvent, so much for getting the $124MM back.
Don’t worry the executives are doing fine, their salaries have not been impacted.
Mark Grescovich made $788K
Michael Jones made $407K
Lloyd Baker earned $390K
Cynthia Purcell earned $346K
Paul Folz made $381K
It is important that these people are well compensated, one would hate to lose this executive team, who managed to blow through $239MM in the last 3 years. It is not easy to run a 121 year old institution into the ground.
The market capitalization is $307MM.
Do you think the tax payer will be getting their $124MM back.
This is one Banner bank.
So the executives, make $2.3M, while they lost the company $239MM?
Let alone taking $124MM from the tax payer.
Do you have money is this place, maybe Mark Grescovich will insure it, because the FDIC is bankrupt.
Mark Grescovich should be in jail.
The only banner thing is Mark Grescovich making $788MM for stealing $124MM in tax payer money.
Hey Mark, the reverse stock split won’t help you already wiped out the stockholders. Keep taking your cash until the place is bankrupt, banner!
Do you have money in this disaster?
Tags:default, deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list
Posted in executive compensation, FDIC Bankrupt, Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | 2 Comments »
April 28, 2011
This is Mitchell Feiger, he took $196MM in bailout money
Mitchell makes $1.3MM
MB Financial Chicago, Ill was founded in 1933. The company took $196MM in tax payer funded bailout money and has made no effort to make any repayments. The Texas ratio is 32%.
The company has $10B in assets with $6B in loans and $1.3B in equity.
Problem loans consist of $132MM in loans 30-90 days past due, $1B in loans over 90 days past due and $351MM on non accrual. Don’t worry they have loan loss reserves of $200MM to cover $1.483B in bad debt, what is that 13%.
Net income was $10MM in FY10 and ($36MM) in FY09.
Though the equity position is $1.3B, there is $387MM in goodwill.
The $196MM in tax payer funding isn’t actually so-called preferred stock, it is debt owed to the American tax payer.
If you back out the goodwill and the funds owed to the U.S. tax payer, the equity position is closer to $717MM.
If this place has $1.43B in bad debt supported by $717MM, it looks like they are technically insolvent?
They had NI of $10 in FY10 and they owe the government $196M, the tax payer should be paid back by 2031.
Why isn’t this place on the problem bank list?
The government is using tax payer funds to prop up this zombie bank.
Fortunately the executive compensation hasn’t been impacted from this debacle.
Mitchell Fieger made $1.3M
Jill York made $720K however this included $19K in country club dues and $13K for auto expenses.
Burton Field made $721K however, $42K was salary from working from his 2nd home?
Brian Wildman made $608K
Rosemarie Bouman made $567K
Not bad pay for running this bank into the ground.
Do you think they should make an attempt to pay back the tax payer. It doesn’t appear as if they can.
Mitchell Fieger, the tax payer is looking for the $196MM you stole.
This team is using tax payer money to pay for their country club fees.
The market capitalization is $231M, 18% of book.
Do you have money is this bankrupt disaster?
Tags:default, deliquency, executives paid despite non payment of bailout fund, foreclosure, insolvent, Non repayment of Gov. bailout funds, real estate
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April 28, 2011
First Merchants Bank Muncie, ID was founded in 1893. The bank took $104MM in tax payer bailout funding, which it has made no effort to pay back! The Texas ratio is 40%.
The company has assets of $4.2B, with $2.1B in loans with $556MM in equity.
The problem loans consist of $27MM in loans 30-90 past due, with $128MM in non accrual and $20MM in OREO.
Net income was $18MM in FY10, why haven’t they used these funds to pay back the tax payer?
The stated equity position is $556MM however, the $104MM is a tax payer loan that is actually debt not preferred stock. Judging from the market capitalization, it doesn’t appear as if this stock is preffered by investors.
The company makes no attempt at paying back the tax payer however, they are not shy in paying themselves.
The executive compensation must go pretty far in Indiana.
Michael Rechin $625K
Mark Hardwich $395K
Michael Stewert $393K
Robert Conners $305K
John Martin $191K
Maybe this compensation could be used to pay back the tax payer!
Michael Rechin is the merchant of stealing of $104MM in tax payer money.
The market capitalization is $279MM, which is 50% of book, that might be generous.
Do you have money in this place?
Tags:default, deliquency, executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Non repayment of Gov. bailout funds | 2 Comments »
April 28, 2011
Take a look at the new site
capital2risk.com
This James Miller, he took $43MM in bailout funds
James your bank lost $6MM over the last 2 years, how are you going to pay back $43MM
James you have $106MM in problem loans
James makes $889k a year, that’s more than the whole bank
Fidelity Southern Bank Atlanta, GA was founded in 1974. The company took $43MM in tax payer bailout funds, non of which it has yet to pay back. The Texas ratio is 41%. Why isn’t this company on the problem bank list, they appear to be technically insolvent.
The company has $1.4B in assets with $1.5B in loans and $188MM in “equity”.
Problem loans consist of $11MM in 30-90 day past due debt, there are $95MM on non accrual with OREO of $20MM.
Net income was ($3MM) in FY09 and ($3MM) in FY10.
NI in Q1 FY10 was $1.8MM. At this rate, how long will it take to pay the tax payer’s $43MM back, eternity?
If you back out the tax payer loan from the stated equity, as this funding is not preferred stock, it is debt. The actual equity position is $145MM.
With $106MM in problem loans, this thing is effectively insolvent.
At least the executive compensation hasn’t been impacted .
James Miller $889K with a 22% raise in FY11
Stephen Holly $295K with a 43% raise in FY11
Palmer Proctor $489K with a 29% raise in FY11
David Buchanan $381K
These guys get pretty good raises for running this place into to ground. Maybe theses raises could be used for paying back the tax payer back.
The market capitalization is $84MM, 45% of book, sounds a little rich when you back out the so-called preferred stock that is actually debt, which they appear to have no means of ever repaying.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
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April 27, 2011
Yadkin Valley Bank Elkin, NC was founded in 1968. The company took $49MM in tax payer bailout funding, none of which has been paid back. Their Texas ratio is 40%.
The company has $2.3B in assets, $1.6B in loans with $161MM in equity.
Problem loans consist of $76MM that are 30-90 days past due, $91MM are on non accrual with $25MM in OREO.
If you back out the $49MM tax payer loan from the equity position, equity is $112MM, as this must be payed back, this is debt not so-called “preferred stock”. The $112MM can’t even support the problem loan base of $231MM.
My question is how are they going to pay the $49MM government loan back? As they made $1MM in FY10, at that rate it should be paid back by 2060.
Hold on, they lost $20MM in Q2 2011.
At least the executives aren’t being financially strained.
Executive compensation:
William Long $439K
Jan Holler $190K
Joseph Howell $245K
Spencer Crosby $203K
This crew gets paid well for destroying this company
Not sure if I would be Long on William, he did a good a job at bankrupting this thing.
The market capitalization is $36MM, 17% of book. The investors have about as much confidence in this company as the tax payer does in getting their money back.
Wow, they raised $6.5MM in a private placement
How is that going to help the $231MM in junk loans, not to mention the $49MM they owe the tax payer.
The $6.5MM is 2% of the bad loans plus the $49MM they owe the tax payer.
That should solve the problem!
This place is a disaster.
Who would even put money into this place.
Check out their new strategic plan?
They made $150k in the first quarter
At this rate, how long will it take them to pay back the tax payer $49MM, how about 80 years.
I would be yakkin if I had money in this bank
Is this your bank?
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds
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April 27, 2011
That is Peter Converse in the middle, he took $71MM in bailout funding
He makes $461k a year, including a country club membership
Virginia Commerce Bank Arlington, VA was founded in 1988. They accepted $71MM in tax payer funded government bailout financing, none of which has been paid back. The Texas ratio is 20%.
The company has $2.2B in assets with $2.1B in loans and $301MM in equity. However, 24% of the equity is from tax payer funding, which isn’t being paid back. This is actually debt, not so called preferred stock.
Problem loans consist of $12MM in 30-90 days past due, $62MM on non accrual, with OREO of $17MM.
Though they can’t repay the bailout funds, the executive’s are faring well.
Executive compensation:
Peter Converse $461K
Richard Anderson $261K
William Beauchesne $302K
Patrica Ostrander $215K
Steven Reeder $255K
The compensation might be misleading, it includes a personal car allowance, country club fees and medical matching benefits.
Net income in FY10 was $26MM, maybe they could have used some of that to repay the taxpayer?
The market capitalization is $176MM, 60% of book.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
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April 27, 2011
This Edwin Hortman, he took $52MM in bailout money
Edwin your bank lost $44MM over the last 3 years, how are you to pay back the $52MM?
Edwin you have like $350MM in problem loans
Edwin makes $650k a year
Ameris Bancorp Moultrie, GA was founded in 1971. It took $52MM in taxpayer bailout funding, which it has made no effort to repay.
The company has $3B in assets, with $1.9B in debt, with $303MM in equity.
Problem loans are staggering. There are $13MM that are 30-90 days past due, with $320MM on non accrual and $110MM in OREO. Feel comforted by the fact that they have $34MM in loan loss reserves, that should cover it?
Net income was ($2MM) in FY08, ($40MM) in FY09 and ($2MM) in FY10.
If you backed out the $52MM taxpayer loan from the equity position, equity would be $252MM which wouldn’t even cover the non accrual loans.
This place looks pretty insolvent, how are they going to pay the tax payer funding? They are probably using these funds to pay the dividend.
How come they are not on the problem bank list?
Rest assure, the executives are well compensated for running this place into the ground.
The following is the executive compensation.
Edwin Hortman $656K
Dennis Zember $363K
Andrew Cleney $311K
Marc Bogan $253K
Jon Edwards $212K
Johnson Hipp $292K
The market capitalization is $236MM.
This team gets paid well for stealing $52MM of tax payer money and not paying it back!
Do you have money in this bank? They took your tax payer money and your not getting it back.
Tags:executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds, under capitalized | Leave a Comment »
April 27, 2011
Taylor Capital Rosemont, Ill took $93MM in government bailout funding and has made no effort to make any repayment of this capital!
However, fortunately this has not effected the executive compensation.
Chairman Bruce Taylor made $587K
CEO Mark Hoppe made $835K
Lawrence Ryan Made $519K
The insider transaction activity shows the executives had the funds to purchase company stock but not enough funding to pay back the government.
The company has a market capitalization of $171MM.
The equity position is $208MM however, $93MM is taxpayer money which is classified as preferred stock. This is not preferred stock, this is debt.
The NI was ($143MM) in FY08, ($43MM) in FY09 and ($79MM) in FY10.
The executives get paid fairly well to generate these kind of earnings.
Based on this financial performance, how will they ever be able to pay back this tax payer money? At least the executive’s won’t be impacted.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
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April 27, 2011
This Pressley Ridgill he took $52MM in bailout funds
Pressley you have like $152MM in problem loans, how are you going to pay back the $52MM
Pressley makes $439k, they also pay $8k for his country club dues, thanks to the tax payer
Newbridge Bancorp Winston Salem NC was founded in 1944. They took $52MM in government bailout funds which haven’t been paid back! The Texas ratio is 31% however, this would increase significantly if the tax payer funding was backed out.
The company has assets of $1.81B with loans of $1.31B and equity of $182MM.
Problem loans consist of $27MM in past due loans 30-90 days, $59MM on non accrual and $26MM in OREO. That equates to $112MM in bad debt, if the $52MM in tax payer bailout funds were backed out the equity position would be $130MM, making the Texas ratio 86%.
The company has not paid back any of the government bailout funds, however, the executive has not been impacted.
CEO Pressley Ridgill recieved $439K in pay as well as $8,440 for country club dues.
CFO Ramsey Hamadi Made $266K and had $42,417 in debt forgiven!
Chief Banking Officer David Barksdale made $198K and had $5,460 in country club dues paid for
Cheif Credit Officer William Budd made $195K
Chief Resource Officer Robin Hager made $190K
The company has a market capitalization of $73MM.
The company has equity of $163MM however, $52MM is taxpayer funding.
The company made $1MM in Q1 FY11, it is going to take them a long time to pay back the $52MM based on current performance.
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
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April 26, 2011
The Privatebank Chicago, Ill accepted $218MM in government bailout funding from the capital repurchase plan. They received $218MM, none of which has been paid back.
However, the executives were not shy about compensating themselves. The CEO made $2.6MM in FY10, the CFO Kevin Philips was paid $560K. The president Bruce Haque made $1.18 while the other president made $1.1M. While the president of CRE Karen Lase made $888K. That is about $7MM.
The company has a market capitalization of $1B, while the company made $24MM in Q1 FY11
Tags:insolvent, Non repayment of Gov. bailout funds, problem bank list
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April 20, 2011
This is Mike Vea, he took $84MM in bailout funds
Mike won’t even pay interest on these funds
Mike’s bank is on the problem bank list
Mike you lost $200MM in 2 years
Mike has $248MM in problem loans
Integra Bank National Association Evansville, IN was founded in 1850. They entered into a consent agreement with the OCC on 5/20/09. The Texas ratio is 129%. This bank took $84MM dollars in government funded TAARP money. They have made only 2 dividend payments and have not made a dividend payment since 8/09.
They have $2.4B in assets with $1.26B in loans, supported by $89MM in equity.
There are $19MM in loans 30-90 days past due, $197MM in non accrual and $49M in OREO. That equates to $248MM in problem loans supported by $89MM in assets.
NI was ($106MM) in FY08, ($101MM) in FY09 and ($110MM) in FY10. At least they keep the losses consistent.
In FY10 they had $68MM in income and $96MM in overhead, that might account for some of the losses. The cost structure seems challenged.
They have eroded the equity from $309MM in FY08 to $89MM in FY10, a 250% decline.
The stock was recently delisted. There are probably not a lot of investors looking for an ROE of (86%). The market CAP is $4MM. They are selling at 4% of book.
Integra, they might want to change the name
Tags:deliquency, insolvent, Non repayment of Gov. bailout funds, problem bank list
Posted in Insolvent, Non repayment of Gov. bailout funds, Problem Bank list | 2 Comments »
April 20, 2011
The Builders Bank Chicago, IL was founded in 1997. They have Texas ratio of 297%. On 5/27/10 they entered into a consent agreement with the FDIC and have the distinction of being on the “problem bank list”. The portfolio consists on 100% commercial real estate.
They have $306MM in assets with $177MM in loans. Equity is $23MM.
Here is the executive board room. Where are the executives?
Loans that are 30-9 past due are $6MM, $67MM are on non accrual with OREO of $56MM. That equates to 73% of the portfolio that is past due.
So, they have $73MM in problem loans with $23MM in equity.
This bank is insolvent!
NI was ($3MM) in FY08. ($25MM) in FY09 and ($5MM) in FY10.
They lost another $2.3MM in Q2, eroding the equity position to $21MM.
They eroded the capital base from $54MM in FY08 to $23MM in FY10, that is 135% in 3 years.
This place is bankrupt.
Why isn’t this place closed down?
It didn’t take the management team long to wipe this place out.
I guess this group doesn’t understand the meaning of diversification.
The only thing this bank builds is a portfolio of bad loans.
For some reason they forgot to put the financial statements on the website?
Check out the website, they won’t tell you who the management team is.
Mitchell Saywitz is the CEO, he has done an admirable in wiping this place out.
Do you have money in this bank?
This is one of the worst banks in the country.
You might want to change banks
Builders bank, these guy built one F$$??? abortion
Tags:deliquency, executives paid despite non payment of bailout fund, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate
Posted in executive compensation, Insolvent, Non repayment of Gov. bailout funds | 2 Comments »
April 14, 2011
Central Bancorp Somerville,MA (CEBK) received $10MM in TAARP on 12/05/08 and has not repayed the loan despite demonstrating profitability and paying dividends.
For the nine months ended 12/31/2010, the company had NI of $1.4MM with a dividend distribution of $1MM. At this level of profit generation, it would take them 10 years to pay back the government funding. As the efficiency ratio is a horrible 74%, it doesn’t appear likely that they will be able to substantially increase NI in the near term.
Executive pay:
This could be John Doherty at the Burren, spending his $661,000
John Doherty $661,346
William Morrisey $468,690
Paul Feely $239,260
Total $1,369,296
Executive salary continuation agreement
Upon retirement until death, John Doherty will receive 50% of his salary and William Morrisey will receive 40% of his.
The investors are paying John Doherty money to the day he dies! Savvy investment.
The new director Gerald Mulligan was given $209K in stock.
This horribly run institution makes no effort to pay back the government funding which bailed them out. The three directors pay themselves almost more than the company generates for it’s investors.
At 12/31/2010, the equity position is reported to be $46MM however, the government funds are reported as preferred stock. The government funding is not preferred stock, it is actually a loan that needs to be paid back, preferred stock is equity that doesn’t require being repaid just dividend payments are required. Backing out the so called preferred stock the equity position is $36MM.
On 12/31/2010, the company reported $2,155M in passed due loans (30-90 days), they had $11,224M in non-accrual loans, for a total of $13,379M in potential losses in their equity. If these losses are realized, the resulting equity position would erode to $23MM. With $511MM in assets the actual capital levels could be 5%. This probably explains why the company is trading at 50% of book.
This company should be on the problem bank list due to it’s percentage of problem assets, potentially inadequate capital, inability to payback TAARP funding and excessive executive pay. Why aren’t the regulators addressing these issues?
Do you have money in this place?
When are they going to start paying back the tax payers.
Maybe the regulators should ask John Doherty, why he can’t pay the tax payer back the $10MM he took but he is able to pay himself $641MM.
This pathetic management team makes more than the whole company makes in a year.
Why pay back the tax payer, these 3 are going to steal their cash until the end.
How are these clowns creating shareholder value?
Do you have money in this place?
Tags:executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds
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