Take a look at the new site capital2risk.com The Patapsco Bank Dundalk Maryland

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.

Bank of Blue Valley Overland Park Kansas

March 22, 2012

In December, Blue Valley Ban Corp. got $21.8 million from TARP even though the Overland Park, Kan., company’s operations were limited by a secret “memorandum of understanding” with the Federal Reserve Bank of Kansas City and state regulators, said Mark A. Fortino, Blue Valley’s finance chief.

This month, the pact was upgraded to a formal written agreement with the Fed. Such agreements generally signal that a bank is on a government list of “problem” institutions. At the Fed’s request, Blue Valley didn’t make $271,000 in TARP dividend payments due in May and August, according to Mr. Fortino.

This is Robert Reiger he gets paid $315k to run this bank into the ground

He got this place on problem bank list for inept commercial real estate lending

Robert racked up $48MM in bad loans and lost the company $26MM

Bank of the Blue Valley? with this clown as the the CEO, the investors are singing the blues

Bank of Blue Valley Overland Park, Kansas was founded in 1989.  The company is on the problem bank list, after it entered into a consent order with the FDIC, for inept commercial real estate lending.  The Texas ratio is 53%.

Bob racked up $48,000,000 in bad  loans, and gets paid $315,000

He seems to like these 3 racks

Hopefully, Bob is not giving these vixons financial advise

Do you think he told them he is on the problem bank list?

Did he tell them the bank is insolvent?

The company has $723MM in assets with $77MM in equity.

The problem loan situation is staggering.  They have $48MM in problem loans, with get this, $45MM on non accrual. I guess that is why they are on the problem bank list.

With $77MM in equity, the $45MM in non accrual, non accrual alone could easily wipe out the equity position.

They are also good at losing money.  Net income was ($3MM) in FY10, ($15MM) in FY09 and ($10MM) in FY08.

This Mark Fortino, he is the CFO, check this dork out, this guy is so Kansas

The stockholders pay  Mark $165,000  to lose $28,000,000 and make $48,000,000 in junk loans 

This joker sings in the barbershop quartet, maybe he should find a decent barber that can fix that triangulated head

This clown is a “left brain accountant”?  Mark you lost F$$? $28,000,000 with your left brain, how much of the investors $$ are you going to lose with your right brain?

This idiot serves in a “pecuniary way” for the Girl Scouts, A$$hole you lost $28,000,000 for Bank of the Blue Valley. How much are you going to lose for the Girl Scouts?

Lost $28,000,000, made $48,000,000 in bad loans, gets paid $165,000

 

They are not going to earn their way out of this.

At least the executives are well compensated, they earn more than the company makes?

Robert Reigner    makes $315k

Mark Fortino        makes $165k

Bruce Easterly      makes $160k

Not bad pay for getting this place on the problem bank list, losing $28MM and racking up $48MM in bad loans.

Robert Reiger doesn’t care, they pay him $315k to rack up $28MM in loses and $45MM in bad loans, that is a good job.  They pay you good money to keep losing money.

That’s good compensation for this performance, this management team is not singing the blues.

Do you have money in this bank?

The stockholders might have the blues.

Four Oaks Bank and Trust Four Oaks North Carolina

March 21, 2012

Take a look at the new site

capital2risk.com

This is Ayden Lee, he is wiping out a 100 year old bank

This clown lost $7,039,000 in Q4 2011

Ayden is sitting on $72,000,000 in bad loans, with only $52,000,000 in equity

Ayden you are bankrupt?

This is Ayden Lee he gets paid $276k to bankrupt a 99 year old bank

This idiots have $72,000,000 in bad loans and are sponsoring golf  tournaments?

This clown wiped out 90% of the banks equity in only 3 years

The bank has $92MM in bad loans thanks to this guy, it is insolvent

Do you have money with this guy he bankrupted a 100 year old bank

Four Oaks Bank and Trust Four Oaks North Carolina was founded in 1912.  For some reason, they are not on the problem bank list.  Believe me, this place problems.  I guess a Texas ratio of 80% isn’t good enough in North Carolina these days.

Assets are $960MM with equity of $55MM

Check out the problem loan portfolio, it is impressive.  They have $92MM of bad loans with $81MM on non accrual. Get this, they $42MM in construction loans on non accrual.

Hire this guy as CEO, he has confederate $

So, they have $92MM in bad loans with $55M in equity and they can’t get a spot on the problem bank list, those regulators are on top of thing as usual.

This place is insolvent.

Everything will be all right once the real estate market comes back?

At least the executives pay themselves well to destroy a 99 year financial institution.

Ayden Lee        made  $276k

Clifton Painter  made $171k

Jeff Pope              made $159k

Ayden Lee got paid well to wipe out 90% of the equity in the company in 3 years.

The market capitalization is $19MM or 35% of book, this thing is worth more dead than alive.

For investor relations  questions contact Wanda Blow, can’t make that up. Blow describes the stock price.

Do you have money here?

They should call this thing four jokes.

You know the market is tough, when you are insolvent and can’t even make the problem bank list, those regulators are beyond, savvy

Peoples Bank Lawrence Kansas

March 20, 2012

Take a look at the new site

capital2risk.com

This is Wint Winters JR he is on the problem bank list for hazardous commercial real estate lending

Wint? you are sitting on $25,000,000 in bad loans

Wint likes to finance vacant land

What the hell is a Wint? Must mean idiot in latin

TAKE YOU MONEY OUT OF THIS BANK FAST!

William S Burroughs on acid could make better decisions than Wint!

Where the hell is Wint Winters III?, the place will be bankrupt by the time he shows up

Wint is in the process of wiping out a 140 year old financial institution

The efficiency ratio is 94%, this idiot loses money just opening up the doors!

Hire this cat as CEO, can’t be any worse than Wint!

Peoples Bank Lawrence Kansas was founded in 1871.  They are on the problem bank list for hazardous commercial real estate lending.  The Texas ratio is 76%.

Do you money in this disaster?

Assets are $382MM with equity of $29MM

The problem loan portfolio is $29MM.

So, the problem loans are $29MM and the equity is $29MM, they are bankrupt.

This place should be closed.

Check out the website, they forgot to publish the financial statements.

The bank survives the great depression and CEO Wint Winters Jr. wipes out a 140 year institution in 3 years.

Thanks Wint, you are one savvy banker.

Do you have in this disaster?

Cornerstone Bank Atlanta Georgia

March 20, 2012

Check out the new site

capital2risk.com

This is Chris Burnett the CEO

Chris Burnett is the CEO who got this place on the problem bank list

They are also on the under capitalized bank list, that is a serious problem

It didn’t take Chris Burnett long to wipe this place out

Chris is sitting in $28,000,000 in junk loans with only $18,000,000 equity

Not sure why he smiling, he has a serious problem 

Do you have money in this bankrupt disaster? You are screwed!

This is Charles Yorke

Charles has helped wipe this place out

This is Frank Roach CFO

Frank you piece of junk bank is on the under capitalized, do you think there is a problem

No wonder he is half bald

Frank you lost $3,336,000 in Q4 2011

Cornerstone Bank, Atlanta Georgia was founded in 2001.  The bank is on the problem list.  They are currently under capitalized.  The Texas ratio is 77%.

Assets are $477MM, while equity is $24MM

Capitalization is 6.09%, below the 8% threshold.

The problem loan portfolio is $20MM.

Here they are opening a new branch so they can make more bad loans

The problem loans alone should wipe out most of the equity.

Here they are working on the $28,000,000 in problem loans

This place should be closed.

Chris Burnett is the CEO and Charles Youke is the President.

Call Paige Beebe she will get you a sub prime mortgage 401-601-1263

It didn’t take these two long make a ton of bad loans and run this place into the ground.

Things must be good, you are on the problem bank and the under capitalized bank list, driving around in this thing

This place is a cornerstone?

Is this your bank?

Tower Bank & Trust Fort Wayne Indiana

March 20, 2012

Take a look at the new site

capital2risk.com

This is Michael Cahill he makes $236,000 which includes country club fees and car allowances

Michael ran this bank into the ground

Michael is repsonsible for getting this disaster on the problem bank list

and Principal
 Position
Year
Salary1
Bonus2
Stock
Awards3
Option
 Awards
Non-Equity
Incentive
 Plan
Compensation4
Change in
Pension Value
and Non-
qualified
Deferred
Compensation
Earnings5
All Other
 Compen-
sation6
Total ($)
($)
($)
($)
($)
($)
($)
($)
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
(i)
(j)
Michael D.
2011
$ 213,269 $ 40,000 $ 28,154 $ 46,746 $ 767 $ 5,246 $ 334,182
Cahill, CEO &
2010
$ 197,692 $ 34,683 $ 546 $ 3,365 $ 236,286
President
2009
$ 180,000 $ 25,000 $ 808 $ 6,652 $ 211,652
Richard R
2011
$ 141,923 $ 15,000 $ 20,775 $ 33,141 $ 2,056 $ 212,895
Sawyer, CFO
2010
$ 135,962 $ 28,217 $ 247 $ 164,426
2009
$ 135,000 $ 5,400 $ 1,739 $ 142,139
Gary D. Shearer
2011
$ 161,842 $ 8,000 $ 12,465 $ 16,650 $ 1,140 $ 2,678 $ 202,775
CEO &
2010
$ 154,115 $ 25,391 $ 955 $ 1,027 $ 181,488
President,Tower.
2009
$ 150,000 $ 11,264 $ 1,081 $ 4,728 $ 165,992
Trust Co
Wendell L.
2011
$ 153,131 $ 15,000 $ 20,775 $ 34,056 $ 98 $ 3,153 $ 226,213
Bontrager, CLO
2010
$ 136,461 $ 5,400 $ 25,337 $ 70 $ 14,506 $ 181,774
2009
$ 135,000 $ 9,870 $ 158 $ 11,264 $ 156,134
James E.
2011
$ 119,914 $ 99,641 $ 20,775 $ 27,464 $ 530 $ 1,400 $ 269,724
Underwood,
2010
$ 119,250 $ 15,756 $ 21,768 $ 377 $ 959 $ 158,110
EVP, Risk
2009
$ 119,250 $ 367 $ 1,196 $ 120,813
Manager
Tina M
2011
$ 124,423 $ 15,000 $ 20,775 $ 31,178 $ 2,116 $ 193,492
Farrington, COO
2010
$ 115,192 $ 4,600 $ 20,810 $ 841 $ 141

Is this clown watching you money?


This is Wendall Bontrager, he is Chief Lending Officer

 This A hole is the one who made $24,000,000 in bad loans and got this train wreck on the problem bank list

Wendall makes $118,000 a year and they pay his country club dues

This Rick Sawyer the CFO he makes $164,000 a year

This dick bankrupted this disaster

This Gary Shearer this bald clown makes $181,000 plus country club dues

Tower Bank & Trust Fort Wayne Indiana was founded in 1999.  The company is on the problem bank list.

Assets  are $668MM with equity of $71MM.

The problem portfolio is $24MM.

Michael Cahill          made $236k

Richard Sawyer       made $164k

Gary Shearer             made $181k

Wendal Bontrager   made $118k

Tina Farrington        made $141k

This includes country club fees and car allowances.

Wow, not bad pay for getting the company put on the problem bank list.

Do you bank here.

Tower? With these salaries, it is more like a golden shower.

First Cornerstone Bank King of Prussia Pennsylvania

March 20, 2012

Take a look at the new site

capital2risk.com

This is Robert Jara, this fat head bankrupted this place in record time

Robert runs the worst bank in Pennsylvainia

This dope is sitting on $25,000,000 in junk loans

Robert lost $6,000,000 in Q4 alone, this wiping out 50% of the equity in only 90 days

Robert got this place on the problem bank list for weakness in management , shocking

The Texas ratio is 176%

Robert should be in jail


This idiot is Lawrence Persick

This is dumb F$$ck that made $32,000,000 in bad loans

This bald head should be sitting in jail

This guy is the king of Prussia

With a Texas ratio of 178%, Robert Jara has serious debt and no equity

Robert Jara kicks it down with unsafe and unsound lending

First Cornerstone?

How much debt does this place have?  How about $32MM in bad loans

First Cornerstone Bank, King of Prussia Pennsylvania was founded in 2000.  The company is on the problem bank list for unsafe and unsound lending practices.  They were cited for weakness in management, asset quality, capital earnings and liquidity.  The Texas ratio is 176%.

Assets are $180MM with $13MM in equity.

The problem loan portfolio in relation to the asset base is incredible.  They have $32MM in problem loans.

Having $32MM in problem loans with only $13MM in equity equates to bankrupt.

Why isn’t this place closed down?

Robert Jara, the CEO, wasted no time in bankrupting this bank.

Do you have money in this thing.

Cornerstone, is the one thing they aren’t.

Porter Bank Lousville Kentucky

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.

Tennessee State Bank Pigeon Forge Tennessee

February 14, 2012

Take a look at the new site

capital2risk.com

Take a look at the new site capital2risk.com much faster

This is Todd Proffit, he is the clown in the middle

Todd got this disaster on the problem bank list

Todd has $67,000,000 in bad loans with only $57,000,000 in equity

Todd your bank is F$$ing bankrupt

Todd Prof$$tt that is a FU$$Kiing oxymoron

Todd is sitting on $73,000,000 in junk loans, that ain’t pigeon shit

The fat bald slob on the left is Scott Henry, even Dolly wouldn’t touch this guy

R Scott Henry, can you get a bigger fatter head than this

This Wayne Ayers he is on the board of this bankrupt disaster

It looks like a pigeon took s shit on his head

This bank is bankrupt and is on the problem bank list

 


Tennessee State Bank Pigeon Forge Tennessee was founded in 1972.  The place is sitting on the problem bank list.  These clowns really loaded up on the real estate.  The Texas ratio is 103%

Assets are $765MM with equity of $57MM.

$73,000,000 in Shit loans “banking at it’s best”

The problem loan portfolio is immense.  They have $73MM in bad loans with $61MM on non accrual.

Having $73MM in bad loans supported by $57MM in equity is a problem.

This place is insolvent and should be closed.

Take a look at the vacant land they have for sale, are you sitting down, they have about 100 vacant lots for sale. Who in their mind finances vacant land for spec. houses? Apparently, these dopes do.

This thing is a disaster, what is this place going to cost the tax payer?

Their motto is “banking at it’s best”, they want to change that to “banking at it’s worst”

You can’t make this up, the CEO is named Todd Proffitt, the only one making a profit is Todd. He did a prophetic at job running this place into the ground.

What is a Pigeon Forge?

This town is home to the Titanic Museum, Tennessee State Bank sunk faster than the Titanic did.

You are not going to believe this, it is also home to Dollywood.

She would get along well with the bimbo’s running this bank.

Her two assets are worth more than those 100 vacant lots combined.

Personal Banking
Business Banking
Current Rates
Online Banking
Convenience Services
Loans & Mortgages
Foreclosed Properties
Repo Auction
Calculators
FAQ
About TSB

Contact Us
Home
Tennessee State Bank offers more complete access to your account.
Online Banking Sign On
-> Personal Account Information
-> Business Cash Management Information
-> Consumer Sign Up
-> Business Sign Up

Tennessee State Bank Foreclosed Properties

Special Financing available for approved and qualified buyers. Please contact
Lee P. Lewis at (865)908-5759.
** To view a home or property, click on the address link **
Address Description Amount
117/119 Hardin Lane
Sevierville, TN
  • Duplex containing 1 bed/1 bath 700 sq. ft. unit and 3 bed/1 bath 1,450 sq. ft. unit
  • Situated on two parcels containing total of 0.5744 +/- acres
  • Currently listed with Karen Whitlock of Karen Whitlock Realty
$172,500
803 Willow Wood Circle
Sevierville, TN
  • 3 bedroom/3 bath house with 2,455 sq. ft.
  • 1.5 story situated on Lot 4 Willow Creek, 5.05 +/- acres
  • Currently listed with Terri Williams of Remax Realty
$374,900
Lots 46R and 47R, Timber Woods Lot 46R Timber Woods

  • Vacant unimproved lot containing 1.60 +/- acres
$49,900
Lot 47R Timber Woods

  • Vacant unimproved lot containing 1.03 +/- acres
$39,900
Lot 15, Country Manor Estates
  • Vacant unimproved lot 15 Country Manor Estates containing 0.39 +/- acres
$37,500
Lot 20, Saddleback Ridge
Sevierville, TN
  • All public utilities
  • 0.31 +/- acres
  • Zoned R-2 Medium Density Residential
  • Property listed with Ginger Riggs of Thompson Carr
$39,900
Lots 1-4 and 6-9
Spoon Hollow Estates
Rutledge, TN
To be sold as two mini farms
  • 51.59 +/- acres in Grainger County
  • 2 small ponds located on tracts 1 and 2
  • Private well and septic
  • Directions: From I-40 take exit 417 to TN-92 toward Jefferson City/Dandridge. Turn left toward Jefferson City. Follow TN-92 until it meets TN-375. Turn right at TN-375. Turn left at Spoon Hollow Road.
  • Property listed with Mike Newman of Home & Garden Real Estate
Price ReductionLots 1-4
Spoon Hollow
$91,900Lots 6-9
Spoon Hollow
$119,000
2127 Luzerne Drive
Gatlinburg, TN
  • 3 Bedrooms
  • 2.5 Baths
  • 1,980 sq. ft.
  • Situated on 0.48 +/- acres
  • Property listed with Karen Whitlock RealtyProperty listed with Karen Whitlock Realty
Price Reduction$214,900
Lot #2, Leconte Landing
Sevierville, TN
  • Private septic
  • City Water
  • 0.75 +/- acres
  • Property listed with Terri Williams of Remax Realty
$49,900
Lot 51, 52 & 53
Vickwood Hills
Pigeon Forge, TN
  • City utilities
  • 1.60 +/- acres
  • Zoned R-2 Low Density Residential
  • Property listed with Terri Williams of Remax Realty
$74,900
Lots 99 & 100
Foothills Estate
Seymour, TN
  • Lot 99 – 1.0 +/- acres
  • Lot 100 – 1.28 +/- acres
$25,000
(for both lots)(Offers will be considered on each lot separately as well)
3056 Hatcher Mountain Road
Sevierville, TN
  • Two-story Home
  • 3,330 sq. ft.
  • 4 Bedrooms
  • 4.5 Baths
  • Situated on 0.70 +/- acres
  • Private well/septic
  • Property listed with Terri Williams of Remax Realty
Price Reduction$294,900
Lots 4 and 5 of Thunder Mtn.
Sevierville, TN
  • Lot 4 consists of 0.63 +/- acres
  • Property listed with Terri Williams of Remax Realty
  • Lot 5 consists of 0.67 +/- acres
  • Property listed with Terri Williams of Remax Realty
$50,000
(Lot 4)$75,000
(Lot 5)
Lots 53, 60, 64 of Regency Park
Sevierville, TN
  • Lot 53 consists of 0.78 +/- acres
  • Property listed with Terri Williams of Remax Realty
  • Lot 60 consists of 1.0 +/- acres
  • Property listed with Terri Williams of Remax Realty
  • Lot 64 consists of 0.91 +/- acres
  • Property listed with Terri Williams of Remax Realty
$70,000
(Lot 53)$55,000
(Lot 60)$55,000
(Lot 64)
Lot 23 Serenity Cove North
Mountain Dreams Way
Sevierville, TN
  • 1.20 +/- acres
  • Private Well & Septic
  • Underground utilities
  • Currently listed with Chris Gonzalez of Pristine Realty
$69,900
Lot 1 of Thunder Mountain Subdivision
Red Sky Drive
Sevierville, TN
  • 1.15 +/- acres
  • City Water & Sewer
  • Property listed with Terri Williams of Remax Realty
$109,900
Lot 3 of Leconte Landing
Alum Cave Cove Road
Sevierville, TN
  • 0.83 +/- acres
  • City Water
  • Private Septic
  • Underground Utilities
  • Property listed with Terri Williams of Remax Realty
$45,900
Lots 49-52 Smoky Cove Phase II and Lots 102-104 Phase III
  • Property listed with Thomas King of Brackfield & Associates
$245,160
49.025 acres situated along Goose Gap Road
Sevierville, TN
  • Property listed with Thomas King of Brackfield & Associates
$655,000
Lot 8R-2 of the Hatcher Farm off Hatcher Mountain Road
Sevierville, TN
  • 0.83 +/- acres
  • Property listed with Terri Williams of Remax Realty
$39,900
Lot 8R-3 of the Hatcher Farm off Hatcher Mountain Road
Sevierville, TN
  • 1.18 +/- acres
  • Property listed with Terri Williams of Remax Realty
$32,000
Lot 3 Tinker Hollow Road
Memory Mountain Retreat
&Lot 4 Tinker Hollow Road
Memory Mountain Retreat
  • 0.23 +/- acres
  • Property listed with Terri Williams of Remax Realty
  • 0.49 +/- acres
  • Property listed with Terri Williams of Remax Realty
$32,000
Lot 97 Rippling Waters Circle
Cool Springs Subdivision
Sevierville, TN
  • 0.45 +/- acres
  • Property listed with Michele Karl of Priority Real Estate
$49,900
1039 Boyds Creek Highway
Seymour, TN
  • 5,000 sq. ft. office building situated on 1.21 +/- acres
$474,900
116 John L Marshall Drive
Sevierville, TN
  • 6 Bedrooms
  • 2 1/2 Baths
  • 3,558 sq. ft. living area with 1,460 sq. ft. basement situated on 0.80 +/- acres
  • Property listed with Karen Whitlock Realty
Price Reduction$304,900
Lots 28 of Thunder Mountain Subdivision
Sevierville, TN
  • Lot 28 – 1.04 +/- acres
  • Property listed with Terri Williams of Remax Realty
$109,900
1038 Leslie Way
Sevierville, TN
  • 3 Bedrooms
  • 3 Baths
  • 2,081 sq. ft. situated on 0.69 +/- acres
  • Property listed with Karen Whitlock Realty
Price Reduction$264,900
River Crossing Condos
1410 Hurley Drive
Sevierville, TN
  • Consists of a six story 30 unit condominium building
  • Situated on a 2.160 +/- acres site
  • One, two & three bedroom units
  • Property listed with Barry Slade of KW Commercial
  • Individual Unit Pricing As Follows:
For pricing on property as a whole, contact Lee Lewis at (865) 908-5759.
  • First Floor Units:
    • Unit 101
      • 3 Bedrooms/2 Baths; 1,548 sq. ft.
$205,900
    • Unit 102
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$159,900
    • Unit 103
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$159,900
    • Unit 104
      • 1 Bedroom/1 Bath; 861 sq. ft.
$121,900
    • Unit 105
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$163,900
  • Second Floor Units:
    • Unit 201
      • 3 Bedrooms/2 Baths; 1,548 sq. ft.
$199,900
    • Unit 202
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$157,900
    • Unit 203
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$157,900
    • Unit 204
      • 1 Bedroom/1 Bath; 861 sq. ft.
$119,900
    • Unit 205
      • 3 Bedrooms/2 Baths; 1,390 sq. ft.
$184,900
  • Third Floor Units:
    • Unit 301
      • 3 Bedrooms/2 Baths; 1,148 sq. ft.
$199,900
    • Unit 302
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$157,900
    • Unit 303
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$157,900
    • Unit 304
      • 1 Bedroom/1 Bath; 861 sq. ft.
$119,900
    • Unit 305
      • 3 Bedrooms/2 Baths; 1,390 sq. ft.
$184,900
  • Fourth Floor Units:
    • Unit 401
      • 3 Bedrooms/2 Baths; 1,548 sq. ft.
$202,900
    • Unit 402
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$159,900
    • Unit 403
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$159,900
    • Unit 404
      • 1 Bedroom/1 Bath; 861 sq. ft.
$121,900
    • Unit 405
      • 3 Bedrooms/2 Baths; 1,390 sq. ft.
$185,900
  • Fifth Floor Units
    • Unit 501
      • 3 Bedrooms/2 Baths; 1,548 sq. ft.
$205,900
    • Unit 502
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$163,900
    • Unit 503
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$163,900
    • Unit 504
      • 1 Bedroom/1 Bath; 861 sq. ft.
$125,900
    • Unit 505
      • 3 Bedrooms/2 Baths; 1,390 sq. ft.
$191,900
  • Sixth Floor Units:
    • Unit 601
      • 3 Bedrooms/2 Baths; 1,548 sq. ft.
$209,900
    • Unit 602
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$169,900
    • Unit 603
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$169,900
    • Unit 604
      • 1 Bedroom/1 Bath; 861 sq. ft.
$129,900
    • Unit 605
      • 3 Bedrooms/2 Baths; 1,390 sq. ft.
$194,900
Vacant Residential Land
Greenwood Road
Chattanooga, TN
  • 55.92 +/- acres of raw, unimproved land
  • Property listed with Paul Foster of Keller Williams Realty
$249,900
The Villas at Saddleback
224 Maggie Mack Lane
Sevierville, TN
  • Consists of a 4 story, 12 unit condominium building
  • Situated on a 1.45 +/- acres site
  • Two and three bedroom units
  • Property listed with Karen Whitlock Realty
  • Individual Unit Information & Pricing:
For pricing on property as a whole, contact Lee Lewis at (865) 908-5759.
  • First Floor Units:
    • Unit 101
      • 3 Bedrooms/2 Baths; 1,861 sq. ft.
$319,900
    • Unit 102
      • 2 Bedrooms/2 Baths; 1,540 sq. ft.
$279,900
    • Unit 103
      • 2 Bedrooms/2 Baths; 1,540 sq. ft.
$279,900
    • Unit 104
      • 3 Bedrooms/2 Baths; 1, 861 sq. ft.
$319,900
  • Second Floor Units:
    • Unit 201
      • 3 Bedrooms/2 Baths; 1,861 sq. ft.
$324,900
    • Unit 202
      • 2 Bedrooms/2 Baths; 1,540 sq. ft.
$284,900
    • Unit 203
      • 2 Bedrooms/2 Baths; 1,540 sq. ft.
$284,900
    • Unit 204
      • 3 Bedrooms/2 Baths; 1,861 sq. ft.
$324,900
  • Third Floor Units:
    • Unit 301
      • 3 Bedrooms/2 Baths; 1,861 sq. ft.
$329,900
    • Unit 302
      • 2 Bedrooms/2 Baths; 1,540 sq. ft.
$289,900
    • Unit 303
      • 2 Bedrooms/2 Baths; 1,540 sq. ft.
$289,900
    • Unit 304
      • 3 Bedrooms/2 Baths; 1,861 sq. ft.
$329,900
Lot 24 Ally Lane
Ridgewood Estates
Sevierville, TN
  • 0.35 +/- acres
  • Property listed with Terri Williams of Remax
$44,900
4.67 acres on Indian Gap Road
Sevierville, TN
  • Unimproved Acreage
$29,900
Lots in the Settlement in Gatlinburg, TN
  • 236 Stone Fence Lane (lot 28) & 240 Stone Fence Lane (lot 29) improved with 6 Bedroom, 6 Bath, 4,215 sq. ft. cabins; amenities include fireplace, theater, wet bar and sprinkler system.
  • Lots 5, 19-26, 32-38, & 40 are vacant lots
  • Property is listed with Mark Wolfe of Smoky Mountain Real Estate
$649,000
Upper Home$649,000
Lower Home$69,000 each
for Lots 5 & Lots 32-27$89,000 each for Lots 19-26, 38 & 40
Lot 36 Serenity Cove
Morning Dove Way
Sevierville, TN
  • 1.18 +/- acres
  • Property is listed with Chris Gonzalez of Pristine Realty
$69,900
11642 Chapman Hwy
Seymour, TN
  • 2 Tracts Totaling 4.93 +/- acres zoned C-2
  • Approximately 350 feet of road frontage on Chapman Hwy
  • Improved with house/office building fronting Chapman Hwy
$565,000
1723 Bluff Mountain Rd
Sevierville, TN
    • 3,200 sq ft Retail/Office building situated on 1.34 +/- acres in Wears Valley
    • Includes two (2) 800 sq ft metal storage units
    • Please call Kim Goode for information
    • Lease Hold Agreement until February 2033
$199,900
Lot 199 Tsali Drive,
Sky Harbor Subdivision
Sevierville, TN
  • 0.48+/- acres wooded lot
  • Zone A-1
  • Please contact Lee Lewis at Tennessee State Bank at 865-908-5759 for more information
$19,900
Lot 16 Eagle Mountain Estates Newport, TN
  • Unimproved, 1.06 +/- acres, rolling wooded
  • City Water
  • Private Septic
  • Property listed with Tammy Bryant of Realty Pros
$17,000
Lot 23 Eagle Mountain Estates
Newport, TN
  • Unimproved, 2.15 +/- acres, rolling wooded
  • City Water
  • Private Septic
  • Property listed with Tammy Bryant of Realty Pros
$20,000
109 Greenwood Way
Newport, TN
  • 3 Bedrooms, 2 Baths
  • 1,800 sq. ft. living area
  • Wrap around deck
  • Fireplace
  • Situated on 1.02 acres +/-
  • Property listed with Tammy Bryant of Realty Pros
$192,900
Lot 14 Zurich Road, Lot 14 Tyrolea Section 4
Gatlinburg, TN
  • Unimproved, 0.32 +/- acres, wooded
  • Zoned R-1
  • All public utilities available
  • Property listed with Ginger Riggs of Thompson-Carr
$35,000
Lots 2-3, 6-9 Backwoods Way
Gatlinburg, TN
  • Lot 2, 1.84 +/- acres
  • Lot 3, 2.08 +/- acres
  • Lot 6, 1.15 +/- acres
  • Lot 7, 1.16 +/- acres
  • Lot 8, 1.56 +/- acres
  • Lot 9, 1.58 +/- acres
$31,500
$35,500
$31,500
$35,500
$35,500
$35,500
1829 Bertie Street
Sevierville, TN
  • 1,850 sq. ft. office building
  • All public utilities are available
  • Currently listed with Thomas King with Brackfield and Associates
Price Reduction$204,900
Lot 5 of the Haskell LaFollette Estate Phase II
Red Bud Lane
Sevierville, TN
  • Unimproved 25.50 +/- acres
  • Currently listed with Karen Whitlock of Karen Whitlock Realty
Price Reduction$184,900
Lot 6, Maggie Mack Lane
Saddle Back Ridge
Sevierville, TN
  • Unimproved 0.11 +/- acres
$40,000
Lochmere
Development Phase VI
16 Unimproved Lots
Morristown, TN
  • Lot 3 – 10, 0.17 +/- acres each
$39,900 each
(Lots 3-10)
  • Cul-De-Sac Lots 23 -24, 29 – 32, 39 – 40:
    • Lot 23, 0.23 +/- acres
    • Lot 24, 0.26 +/- acres
    • Lot 29, 0.17 +/- acres
    • Lot 30, 0.21 +/- acres
    • Lot 31, 0.19 +/- acres
    • Lot 32, 0.19 +/- acres
    • Lot 39, 0.23 +/- acres
    • Lot 40, 0.18 +/- acres
  • Property listed with Chad Long of The Home Team Real Estate
$43,900 each
(Lots 23-24, 29-32, 39-40)
Lot 18, Pinnacle Drive
Gatlinburg, TN
  • Unimproved Lot, 0.27 +/- acres
  • Zoned C-4
  • Currently listed with Karen Whitlock of Karen Whitlock Realty
$70,000
Lot 23, Pinnacle Drive
Gatlinburg, TN
  • Unimproved Lot, 1.02 +/- acres
  • Zoned R-2
  • Property listed with Ginger Riggs of Thompson-Carr Real Estate
$49,900
Lot 9, Trace Two Hundred Section 1
Sevierville, TN
  • Unimproved Lot, 1.73 +/- acres
$40,000
Lot 28 Fox Vista Phase II
Sevierville, TN
  • Unimproved Lot 0.59 +/- acres
  • Lake view
  • Currently listed with Michele Karl of Priority Real Estate
$55,000
1656 Cardinal Drive
Gatlinburg, TN
  • 3 Bedroom/3 Bath
  • 3,412 sq. ft. house
  • 528 sq. ft. garage/storage
  • Situated on Lot 7, Hidden Hills Section D which contains 0.58+/- acres
  • Utilizes city water, gas, & private septic
  • Currently listed with Terri Williams of Remax Realty
$299,900
Lots 41, 56, & 63 Burning Oaks Subdivision
Sevierville, TN
  • Vacant, unimproved lots 41, 56, & 63 of Burning Oaks Phase 2.
  • Acreage is as follows:
    • Lot 41: 0.86 +/- acres
    • Lot 56: 0.73 +/- acres
    • Lot 63: 2.51 +/- acres
  • Currently listed with Tracy Manning of Exit Realty
Lot 41
$27,500Lot 56
$27, 500Lot 63
$25,500
Lot 5 Serenity Cove,
Mountain Dreams Way
Sevierville, TN
  • Vacant, unimproved Lot 5, Serenity Cove North Phase IV
  • 0.75 +/- acres
  • Currently listed with Chris Gonzalez of Pristine Realty
$72,500
Lot 101 Eagle Crest,
McInturff Way
Sevierville, TN
  • Vacant, unimproved Lot 101, Eagle Crest Subdivision Phase 2
  • 0.4285 +/- acres
  • Development is serviced by community water and sewer disposal system
$35,000
20.77 Acres
Louisville, TN
  • 32 Lot Development partially complete
  • Currently listed with Barry Slade of KW Commercial
$1,995,000
1109 Greenbriar Village
  • 3 Bedroom/3 1/2 Bath
  • 2,496 sq. ft., 1.5 story cabin
  • Situated on Lot 2 of Greenbriar Village containing 0.14 +/- acres
  • Currently listed with Kathryn Lovell
$299,900 furnished
Lots 3, 15, 16, 22
Greenbriar Village
  • Vacant, unimproved lots
  • Acreage is as follows:
    • Lot 3 – 0.14 +/- acres
    • Lot 15 – 0.12 +/- acres
    • Lot 16 – 0.14 +/- acres
    • Lot 22 – 0.08 +/- acres
  • Currently listed with Ginger Riggs of Thompson and Carr
$45,000 each
6.22 acreage in Dandridge
Dalsland Way off Fain Cemetary Rd
  • 6.22 +/- acres
  • Offers views and ready access to Douglas Lake
  • Terrain is rolling to sloping with the surrounding property wooded or pasture
  • Currently listed with Chad Long of Home Team Real Estate
Price Reduction$93,500
Lot 10 Bear Paw Development
  • Unimproved lot 10 Bear Paw Development containing 2.66 +/- acres
$32,500
Lot 177 of Majestic Meadows Phase IV
  • Lot contains 1.09 +/- acres
  • Public electric, water & gas
  • Private septic
$40,000
Lot 23 Robertson Farm
Somerset Downs
  • Vacant, unimproved 1.69 +/- acres
  • Public electric
  • Currently listed with Ginger Riggs of Thompson and Carr
$36,000
6825 – 6855 Barger Pond Way
Knoxville, TN
  • 16.25 acre +/- parcel
  • Improvements include mini-warehouse/warehouses as follows:
    • 2 Buildings with 112 mini-warehouse units and site office; 1 Building is climate-controlled mini-storage and 1 Building is standard mini-storage; 2 Buildings totaling 26,500 sq. ft. office/warehouse
$3,750,000
10218 Thorngrove Pike
Knoxville, TN
  • Vacant, unimproved 99.58 +/- acres
  • Currently listed with Barry Slade of KW Commercial
$499,900
9804 Will Merritt Road
Strawberry Plains, TN
  • 1,538 sq. ft. house with 280 sq. ft. garage
  • Situated on 44.198 +/- acres
  • Currently listed with Barry Slade of KW Commercial
$353,520
951 Smith School Road
Strawberry Plains, TN
  • 4 Bed/4.5 Bath, 3,526 sq. ft. house (main level)
  • 1,080 sq. ft. finished basement
  • 576 sq. ft. garage with 1 bath
  • Situated on 206.49 +/- acres
  • Currently listed with Barry Slade of KW Commercial
Call Lee Lewis at (865) 908-5759 for pricing
Lots in Gold Leaf Estates
Sevierville, TN
  • Lot 7 Phase 1, 4.11 +/- acres
  • Currently listed with Jeff Shoenfield of Remax All Pro Realtors
$70,000
  • Lot 17 Phase 1, 1.09 +/- acres
$40,000
  • Lot 18 Phase 1, 1.04 +/- acres
$40,000
  • Lot 19 Phase 1, 0.69 +/- acres
$40,000
  • Lot 20 Phase 2, 3.2 +/- acres
$40,000
  • Lot 21 Phase 2, 2.25 +/- acres
$80,000
  • Lot 22 Phase 2, 1.95 +/- acres
$55,000
  • Lot 24 Phase 2, 1.85 +/- acres
$52,000
  • Lot 25 Phase 2, 1.27 +/- acres
$48,000
  • Lot 26 Phase 2, 2.34 +/- acres
$57,000
  • Lot 28 Phase 2, 2.61 +/- acres
$40,000
  • Lot 29 Phase 2, 1.94 +/- acres
$40,000
  • Lot 30 Phase 2, 1.76 +/- acres
$40,000
  • Lot 31 Phase 2, 1.9 +/- acres
$40,000
  • Lot 32 Phase 2, 2.96 +/- acres
$57,000
  • Lot 33 Phase 3, 0.93 +/- acres
$57,000
  • Lot 35 Phase 3, 2.55 +/- acres
$50,000
  • Lot 36 Phase 3, 2.32 +/- acres
$57,000
  • Lot 37 Phase 3, 3.38 +/- acres
$60,000
  • Lot 38 Phase 3, 2.44 +/- acres
$60,000
  • Lot 39 Phase 3, 2.26 +/- acres
$50,000
  • Lot 40 Phase 3, 3.46 +/- acres
$57,000
  • Lot 41 Phase 3, 2.45 +/- acres
$60,000
  • Lot 42 Phase 3, 2.91 +/- acres
$60,000
  • Lot 43 Phase 3, 3.72 +/- acres
$63,000
  • Lot 44 Phase 3, 5.25 +/- acres
$63,000
  • Lot 45 Phase 3, 3.71 +/- acres
$57,000
  • Lot 46 Phase 3, 2.15 +/- acres
$100,000
  • Lot 47 Phase 3, 2.23 +/- acres
$120,000
  • Lot 48 Phase 3, 3.08 +/- acres
$110,000
  • Lot 49 Phase 3, 2.56 +/- acres
$105,000
  • Lot 50 Phase 3, 1.72 +/- acres
$70,000
  • Lot 51 Phase 3, 0.95 +/- acres
$60,000
  • Lot 53 Phase 3, 1.19 +/- acres
$95,000
  • Lot 54 Phase 3, 0.08 +/- acres
$70,000
Havana Dreams Cafe
449 Parkway
Gatlinburg, TN
  • “L” shaped with 0.14 acre +/- tract with 109.77′ of Parkway frontage and 94.90′ frontage on the west prong of the Little Pigeon River.
  • Previously a Ruby Tuesdays for a restaurant facility; 5,652 sq. ft. on 1st floor and 4,891 sq. ft. on 2nd floor for a total of 10,282 sq. ft.
  • Currently listed with Terri Williams of Remax Realty

$699,000
(fee simple)
OR

$75,000/yr triple net

Vacant lots, Willow Creek Subdivision
  • 12 vacant lots 5 – 7, 9 & 10, 13 – 19 in Willow Creek Subdivision:
  • Currently listed with Jeff Shoenfield of Remax All Pro Realtors
  • Lot 5 – 5.43 +/- acres

$68,000

  • Lot 6 – 1.53 +/- acres

$20,900

  • Lot 7 – 1.48 +/- acres

$20,300

  • Lot 9 – 1.58 +/- acres

$21,500

  • Lot 10 – 1.75 +/- acres

$24,000

  • Lot 13 – 1.41 +/- acres

$19,500

  • Lot 14 – 5.01 +/- acres

$65,000

  • Lot 15 – 5.02 +/- acres

$65,000

  • Lot 16 – 5.02 +/- acres

$65,000

  • Lot 17 – 5.17 +/- acres

$67,000

  • Lot 18 – 5.32 +/- acres

$67,000

  • Lot 19 – 5.60 +/- acres

$70,000

Lots 11 & 12, Clayton Estates
Sevierville, TN
  • Vacant, unimproved lots containing 0.86 +/- acres and 0.69 +/- acres

 $23,500
(for the pair)

Lot 33, Serenity Cove
Sevierville, TN
  • Vacant, unimproved
  • Serenity Cove North Phase IV containing 1.42 +/- acres
$55,000
3272 Lost Branch Road
Sevierville, TN
  • 4 bed/2 bath, 1,800 sq. ft., 2 story cabin
  • Two (2) – 1 bed/1 bath, 900 sq. ft. cabins
  • 7.35 +/- acres
  • Currently listed with Karen Whitlock of Karen Whitlock Realty
$265,000
2341 Adair Avenue
Knoxville, TN
  • Main level – 960 sq. ft., 1 bed/2 baths
  • Second level – 415 sq. ft., 2 beds
  • Situated on 0.298 +/- acres
  • Currently listed with David Bradley of Remax
$59,900
2700 Copeland Street
Knoxville, TN
  • 3 bed/1 bath, 1,191 sq. ft.
  • Situated on 0.19 +/- acres
  • Currently listed with David Bradley of Remax
$51,500
920 Wears Valley Road
Sevierville, TN
  • 3 bedrooms/2 full baths & 2 half baths
  • 2,503 sq. ft. house
  • Situated on lot 27 Twin Bridges No. 2 which contains 0.47 +/- acres
  • Utilizes city water & sewer
  • Currently listed with Michele Karl of Priority Real Estate
$119,900
Lot 3 Youssefi Property
Walland, TN
  • Vacant lot that is 0.84 +/- acres with access to public electric and water
  • Lot is zoned R-1 Residential
$39,900
Lots 50 & 89 of the 8th District & 5th Section of Haralson County and Tallapoosa, GA
  • 103.03 +/- acres
  • Vacant land
  • Currently listed with G7RE, LLC in Atlanta
$890,000
1915 Alamo Trail
Dandridge, TN
  • 3 bed/3.5 bath
  • 1.5 story, 2,568 sq. ft. house with 1 BA 696 sq. ft. basement
  • Situated on lot 14R Rugged Range containing 2 +/- acres
$549,000
Lot 7 Sawyers Green
  • Lot 7 of Sawyers Green Phase I
  • Vacant lot with 1.56 +/- acres
$69,000
Sleep Inn
Sevierville, TN
  • 1.69 +/- acres improved with Sleep Inn which has 70 rooms totaling 32,716 sq. ft.
  • Currently listed with Barry Slade of KW Commercial
$2,450,000
Quality Inn
7471 Crosswood Blvd
Knoxville, TN
  • 25,615 sq. ft., 54-room motel situated on lot 8R revision of lot 8 East View containing 1.76 +/- acres
  • Currently listed with Barry Slade of KW Commercial
$1,750,000
3.12 acres in Gatlinburg
Wiley Oakley Drive (Elkington Place)
  • Vacant, unimproved land
$225,000
4.06 acres in Gatlinburg
504 Cherokee Orchard Road
  • Vacant, unimproved land
$1,350,000
28.38 acres in Jones Cove
  • Unimproved tracts 18 & 19 of survey for Fred & Mary Webb containing total of 28.38 +/- acres
$62,500
213 N. Riverview Circle
Sevierville, TN
  • 3 Bed/2 Bath, 1,386 sq. ft. home with 1,386 sq. ft. finished basement situated on lot 86 of Marshall Woods II containing 0.43 +/- acres
$169,900
Lot 85 of Marshall Woods II
  • Vacant, unimproved lot 85 Marshall Woods II containing 0.60 +/- acres
  • Lot is adjacent to 213 N. Riverview Circle
$30,000
Lot 34, The Tradition
  • Unimproved, lot 34 of The Tradition
  • Vacant lot containing 1.35 +/- acres
$57,500
Lot 37, Serenity Cove
  • Unimproved, lot 37 Serenity Cove
  • Vacant lot containing 1.01 +/- acres
$54,900
2225 Maples Drive
Sevierville, TN
  • 3 Bedroom/2.5 Bath
  • • 1,800 sq. ft. home situated on 0.38 +/- acres
$189, 900
4229 E. Parkway
Gatlinburg, TN
  • Lot 181 Outdoor Resorts at Gatlinburg
  • Containing 0.5 +/- acres improved with a 1999 Woodland Park 40′ Trailer.
$32,500
524 Doyle Court
Sevierville, TN
  • 5 Beds/4.5 Baths, 2-story house
  • 4,748 sq. ft. house with 2,702 sq. ft. finished basement
  • Situated on lot 22 of Winswept containing 0.70 +/- acres
$685,000
Lots 3, 7, 14, 17 and 23 Blue Springs Way
Sevierville, TN
  • Lot 3 – 0.53 +/- acres
  • Lot 7 – 0.69 +/- acres
  • Lot 14 – 0.62 +/- acres
  • Lot 17 – 0.86 +/- acres
  • Lot 23 – 0.96 +/- acres
Each lot to be sold separately
Lot 3 – $17,900
Lot 7 – $17,900
Lot 14 – $24,900
Lot 17 – $17,900
Lot 23 – $21,500
6.82 Acres Autumn Ridge Estates
Sevierville, TN
  • 6.82 +/- acres situated on Autumn Ridge Way
Coming Soon
Lot 2 Smoky Mountain Retreat
Sevierville, TN
  • Lot 2 Smoky Mountain Retreat containing 0.70 +/- acres
Coming Soon
Lots 19, 21, 24 and 25 Autumn Ridge Estates
Sevierville, TN
  • Lots 19, 21, 24 and 25 situated in phase 3 in Autumn Ridge Estates
Each lot to be sold separatelyComing Soon
901 Johns Branch Road
Gatlinburg, TN
  • 0.83 +/- acres improved with older mobile home
$22,500
911 Johns Branch Road
Gatlinburg, TN
  • 0.38 +/- acres improved with 13.5′ x 56′ manufactured home
$13,500
209 Gray Slate Circle
Sevierville, TN
  • 3 Bed/2 bath house on lot 286 of Rock Gardens
$84,900
Lot 23 Mountain Grove
Seymour, TN
  • Lot containing 0.91 +/- acres
$24,900
Tennessee State Bank • 2210 Parkway, P.O. Box 1260 • Pigeon Forge, TN 37868
All Locations: (865) 453-0873 • Telephone Banking: (865) 908-BANK (2265)
Website by: ProfitStars / ©2010 Tennessee State Bank. All rights reserved.

NOTICE: Tennessee State Bank is not responsible for and has no control over the subject matter, content, information, or graphics of the web sites that have links here. Tennessee State Bank does not control the content of or approve any website that is linked through this browser. Search results are not filtered or screened by the bank or any of its agents, representatives or service providers. Users who search the Internet using this browser do so at their own risk and are responsible for the results. Tennessee State Bank is not responsible for the content. Please contact us with any concerns or comments.

First Security Bank Batesville Mississippi

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.

Jasper Banking Company Jasper Georgia

February 9, 2012

Check out the new site

capital2risk.com

This is Paul Neely, he wiped out this bank

This is Paul Neely he wiped out 82% of the equity in only 3 years

Paul is about to bankrupt a 66 year old bank

Paul is sitting on $47,000,000 in bad loans

Is this dope watching your money?

This is Marvin Chance, the CFO, he was instrumental in destroying this bank.

Would you take a chance with risking your money, with Marvin?

Check out his fat head, do you think this  bankster is going hungry? FAT CHANCE

Here is the board of directors, these clowns approved all this ignorance

Jasper Banking Company Jasper Georgia was founded in 1945. For some reason, this abortion is not on the problem bank list.  One would think with a Texas ratio of 303%, they should be well qualified.

Fortunately, they were able to qualify for the under capitalized bank list. Not hard to do when you have no equity.  They would definitely be approved for the insolvent  bank list.

The assets are $255MM with equity of $11MM.

The problem loan portfolio is $47MM, with $30MM on non accrual.

Do you think this thing is bankrupt?

They lost another $1.4MM in Q2.

The CEO Paul Neely, was instrumental in wiping out 82% of the shareholders equity in the  last 3 years, let alone bankrupting a 66 year old financial institution.

You might want to take your money out of this impending implosion.

Ugliest Banker of the year

January 2, 2012

It doesn’t get much worse than this

Fat, bald, 3 chins

Hopefully Todd is rich

This is Todd Brice

This fat slob makes $809,000, that should be enough to get him some action

Capital2risk Most Wanted 2011

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

Falcon International Bank Laredo Texas

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?

Regal Bank Owings Mills Maryland

December 29, 2011

Take a look at the new site

capital2risk.com

This is G. Bradley Sanner, President of Regal Bank

G. Bradley recently got his bank on the problem bank list, for unsafe and unsound lending as well as violations of law

That doesn’t sound to Regal, G. Bradley

Regal means king in Latin, a fitting name, G. Bradley is “the King” at destroying a bank.

The Texas ratio is 91%, making it one of the worst banks in the state.

Do you have money with G. Bradley? You might want to find a more Regal Bank, or at least a less bankrupt bank.

Why is G. Bradley smiling, because he gets paid good money to run a 64 year bank into the ground.

Check out all those books behind his head, I guess that is supposed to make him look smart. G. Bradley forgot to read Banking 101

Regal Bank Owings Mills, Maryland was founded in 1947.  The company recently became a member of the problem bank list.  They were citied for unsafe and unsound lending practices as well as violations of law.  Maybe that is why the Texas ratio is 91%, giving it the distinction of being one of the worst banks in the state.

Assets are $182MM with equity of $13MM.

This Regal place has $12MM in problem loans.

Hold on G. Bradley, you have $12MM in bad loans and only $13MM in equity.  You might want to wipe that grin off your face, you have serious problems.

G. Bradley lost $2.5MM in Q3 FY011 alone, wiping out 15% of the remaining equity in only 90 days.

Do you have money in this Regal institution?

Take a look at the press release, they haven’t posted their financial statements since FY06? Do you think G. Bradley is trying to hide something? Maybe that is why he is smiling!

First Colebrook Bank Colebrook New Hampshire

December 28, 2011

Jim Tibbets is making a good effort to bankrupt this place

This is the 4th worst capitalized bank in the country

They are on the under capitalized bank list, the Tier 1 capital is .95%, somewhat short of 8% target

Take your money at of this disaster, they are out of capita

Check out Jim’s gut, this fat cat bankster doesn’t miss a meal

This motley crew is bankrupt


That over weight guy on the right is Jim Tibbets, the CEO

Jim, what are you giving awards out for? Having the 4th worst capitalized bank in America

Why are these people smiling?

Jim put the two vixons in front, pleading for capital.

This vixon is from New Hampshire, I would go with her for the marketing role

Please us capital, we are almost bankrupt

The bank was founded in 1889, it survived the Great Depression, will it survive Jim Tibbets?

They are looking for investors.

I would rather invest  in the sovereign debt of Greece.

Waccamaw Bank Whiteville, NC

December 22, 2011

THIS COULD BE THE WORST BANK IN THE COUNTRY
WACCAMAW IS ONE OF WORST CAPITALIZED BANKS IN AMERICA

s Jim Graham the CEO, got his bank is on the problem bank list

Jim gets paid $391,000 to run this place into the ground

This disaster has $55,000,000 in sh$$t loans

They have  $7,000,000 in capital, they are BANKRUPT!!!!

This idiot wiped out 38% of the remaining equity in Q3 2011 alone 

The stock is de listed

 

Worst Bank in the Country?

Why is this ass giving money away, the bank is bankrupt

Waccaamaw Bank Whiteville, NC has an astonishing  Texas ratio of 100%.  That is probably why they have become a member of the problem bank list. They entered into a written agreement with the regulators.

The company has assets of $561MM and equity of $33MM.

The problem loan list is interesting.  There are $13MM in loans 30-90 days past due, with $56MM in non accruals.

Hold on, there are $59MM in bad loans with $33MM in equity.

This thing is looking bankrupt.

Why isn’t this place closed down?

They lost $6MM in Q2 2011.

At least the executives were paid well for wrecking this company.

James Graham made  $391K

Richard Norris made $127K.

Not bad pay for wiping out 120% of the company equity.

Going postal and going down, Carolina strong?

Do you think James Graham should go?

Hopefully you don’t have money here.  This place is bankrupt and so is the FDIC!

Whiteville? interesting name for a town in North Carolina

It looks like Jim Graham is the guy who ran this place into the ground.

Do you have money in this bank?

Do you trust Jim Graham?

This  clown is going to take your money until he drives the place into bankruptcy.

UNITED STATES OF AMERICA
BEFORE THE
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
WASHINGTON, D.C.
STATE OF NORTH CAROLINA
OFFICE OF THE COMMISSIONER OF BANKS
RALEIGH, NORTH CAROLINA
Written Agreement by and among
WACCAMAW BANKSHARES, INC. Whiteville, North Carolina
WACCAMAW BANK Whiteville, North Carolina
FEDERAL RESERVE BANK OF RICHMOND Richmond, Virginia
and
STATE OF NORTH CAROLINA
OFFICE OF THE COMMISSIONER OF BANKS
Raleigh, North Carolina
Docket No. 10-105-WA/RB-HC 10-105-WA/RB-SM
WHEREAS, in recognition of their common goal to maintain the financial soundness of Waccamaw Bankshares, Inc., Whiteville, North Carolina, (“Bankshares”), a registered bank holding company, and its subsidiary bank, Waccamaw Bank, Whiteville, North Carolina (the “Bank”), a state-chartered bank that is a member of the Federal Reserve System, Bankshares, the Bank, the Federal Reserve Bank of Richmond (the “Reserve Bank”), and the State of North Carolina, Office of the Commissioner of Banks (the “Commissioner”) have mutually agreed to enter into this Written Agreement (the “Agreement”); and
[Page Break]
Page 2
WHEREAS, on June 10, 2010, the boards of directors of Bankshares and the Bank, at duly constituted meetings, adopted resolutions authorizing and directing Alan W. Thompson to enter into this Agreement on behalf of Bankshares and the Bank, and consenting to compliance with each and every applicable provision of this Agreement by Bankshares, 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, Bankshares, the Bank, the Reserve Bank, and the Commissioner agree as follows:
Source of Strength
1. The board of directors of Bankshares shall take appropriate steps to fully utilize Bankshares’ 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 and any other supervisory action taken by the Reserve Bank or the Commissioner.
Corporate Governance and Management Review
2. (a) Within 30 days of this Agreement, the board of directors of the Bank shall retain an independent consultant acceptable to the Reserve Bank and the Commissioner to conduct a review of the effectiveness of Bank’s corporate governance, board and management structure (the “Review”), to assess staffing needs, and to prepare a written report of findings and recommendations (the “Report”). The Review shall, at a minimum, address, consider, and include:
[Page Break]
Page 3
(i) the qualifications and performance of each of the Bank’s senior executive officers to determine whether the individual possesses the ability, experience, and other qualifications to competently perform present and anticipated duties, including their ability to: adhere to applicable laws and regulations and the Bank’s established policies and procedures; restore and maintain the Bank to a safe and sound condition; and comply with the requirements of this Agreement; (ii) the identification of present and future management and staffing needs for each area of the Bank, particularly in the areas of credit risk management and loan review; and (iii) an assessment of the current structure, qualifications, and composition of the board of directors and their committees, and a determination of the structure and composition needed to adequately supervise the affairs of the Bank. (b) Within 20 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.
[Page Break]
Page 4
3. Within 30 days of receipt of the Report required by paragraph 2(b), the Bank’s board of directors shall submit a written corporate governance and 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 will take in order to strengthen the Bank’s management and corporate governance, and to hire, as necessary, additional or replacement directors, officers or staff to properly oversee, manage and operate the Bank.
Board Oversight
4. 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 senior management and major operations and activities, including but not limited to, credit risk management, loan review, capital, liquidity, and earnings;
(b) the responsibility of the board of directors to monitor management’s adherence to approved Bank policies and procedures, and to require management to document exceptions thereto; and
(c) 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, allowance for loan and lease losses (“ALLL”), capital, earnings, and liquidity.
[Page Break]
Page 5
Credit Risk Management
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) The responsibility of the board of directors to establish appropriate risk tolerance guidelines and risk limits;
(b) periodic review and revision of risk exposure limits to address changes in market conditions;
(c) timely and accurate identification and quantification of credit risk within the loan portfolio and for individual loans;
(d) enhanced stress testing of loan and portfolio segments;
(e) procedures to identify, limit, and manage commercial real estate (“CRE”) concentrations that are consistent with the Interagency Guidance on Concentrations in Commercial Real Estate Lending, Sound Risk Management Practices, December 12, 2006
(SR 07-1).
(f) a schedule for reducing, and the means by which the Bank will reduce, CRE concentrations;
(g) strategies to minimize credit losses and reduce the level of problem assets; (h) management’s monitoring and controlling of problem assets; and
(i) standards for the periodic assessment of commercial real estate and acquisition, development and construction loans.
[Page Break]
Page 6
Loan Review Program
6. 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 or by qualified staff that is independent of the Bank’s lending function. 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 nonperforming or adversely graded loans, and the prospects for full collection or strengthening of the quality of any such loans.
Asset Improvement
7. 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 August 31, 2009 (“Report of Examination”) or in any subsequent report of examination, 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 necessary to improve and protect
[Page Break]
Page 7
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)). 8. (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 or other asset in excess of $1 million, including other real estate owned (“OREO”), that: (i) is past due as to principal or interest more than 90 days as of the date of this Agreement; (ii) is on the Bank’s problem loan list; or (iii) was adversely classified in the Report of Examination. In developing the plan for each loan, the Bank shall, at a minimum, review, analyze, and document the financial position of the borrower, including source of repayment, repayment ability, and
[Page Break]
Page 8
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 30 days of the date that the Bank acquires OREO or that any additional loan, relationship, or other asset in excess of $1 million 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.
Allowance for Loan and Lease Losses
9. (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 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
[Page Break]
Page 9
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 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 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 ALLL for that quarter.
[Page Break]
Page 10
Capital Plan
10. Within 60 days of this Agreement, Bankshares shall submit to the Reserve Bank an acceptable written plan to maintain sufficient capital at Bankshares, on a consolidated basis, and Bankshares and the Bank shall jointly submit to the Reserve Bank and the Commissioner an acceptable written plan to maintain sufficient capital at the Bank, as a separate legal entity on a stand-alone basis. These plans shall, at a minimum, address, consider, and include:
(a) Bankshares’ current and future capital needs, 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 needs, 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 credits, concentrations of credit, ALLL, current and projected asset growth, and projected retained earnings;
(d) the source and timing of additional funds to fulfill the consolidated organization’s and the 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 Bankshares serve as a source of strength to the Bank.
11. Bankshares and the Bank shall notify the Reserve Bank and the Commissioner, in writing, no more than 30 days after the end of any quarter in which any of Bankshares’
[Page Break]
Page 11
consolidated capital ratios or the Bank’s capital ratios (total risk-based, Tier 1 risk-based, or leverage) fall below the approved capital plan’s minimum ratios. Together with the notification, Bankshares and the Bank shall submit an acceptable written plan that details the steps Bankshares or the Bank, as appropriate, will take to increase Bankshares’ or the Bank’s capital ratios to or above the approved capital plan’s minimums.
Liquidity and Funds Management
12. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable written plan designed to improve management of the Bank’s liquidity position and funds management practices. The plan shall, at a minimum, address, consider, and include measures to enhance the monitoring, measurement, and reporting of the Bank’s liquidity to the board of directors.
13. 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, identifies available sources of liquidity and includes adverse scenario planning.
Brokered Deposits
14. (a) At all times during the term of this Agreement that the Bank is well capitalized, the Bank shall not accept any new brokered deposits. For purposes of this subparagraph, the term “brokered deposits” is defined as set forth in Section 337.6(a) of the regulations of the Federal Deposit Insurance Corporation (“FDIC”) (12 C.F.R. § 337.6(a)) and includes deposits funded by third party agents or nominees for depositors; and the term “new brokered deposits” is defined not to include contractual renewals or rollovers of brokered deposits.
[Page Break]
Page 12
(b) Within 30 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable written plan for reducing its reliance on brokered deposits. The plan shall detail the current composition of the Bank’s brokered deposits by maturity and explain the means by which such deposits will be paid at maturity.
15. The Bank shall comply with the provisions of Section 29 of the FDI Act (12 U.S.C. § 1831f) and the FDIC’s accompanying regulations at 12 C.F.R. § 337 that are applicable to the Bank. The Bank shall notify the Reserve Bank and the Commissioner, in writing, if the Bank requests any waiver of the restrictions imposed by Section 29 from the FDIC and shall notify the Reserve Bank of the FDIC’s disposition of any request for such a waiver.
Strategic Plan and Budget
16. (a) Within 90 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner a strategic plan to improve the Bank’s earnings, and a budget for the remainder of 2010. The written plan and budget shall include, but not be limited to:
(i) identification of the major areas where, and means by which, the board of directors will seek to improve the Bank’s operating performance;
(ii) a realistic and comprehensive budget for the remainder of calendar year 2010, including income statement and balance sheet projections; and
(iii) a description of the operating assumptions that form the basis for, and adequately support, major projected income, expense, and balance sheet components.
(b) A strategic plan and budget for each calendar year subsequent to 2010 shall be submitted to the Reserve Bank and the Commissioner at least 30 days prior to the beginning of that calendar year.
[Page Break]
Page 13
Dividends
17. (a) Bankshares 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 (“Director”), and, as to the Bank, also the Commissioner.
(b) Bankshares shall not take any other form of payment representing a reduction in capital from the Bank without the prior written approval of the Reserve Bank.
(c) Bankshares 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 and the Director.
(d) All requests for prior 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 the parent’s capital, earnings, and cash flow; the Bank’s capital, asset quality, earnings and loan loss reserve needs; and identification of the sources of funds for the proposed payment or distribution. For requests to declare or pay dividends, Bankshares 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 Companies, dated November 14, 1985 (Federal Reserve Regulatory Service, 4-877 at
page 4-323).
[Page Break]
Page 14
Debt and Stock Redemption
18. (a) Bankshares and its nonbank subsidiaries shall not, directly or indirectly, incur, increase, or guarantee any debt without the prior written approval of the Reserve Bank. 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) Bankshares shall not, directly or indirectly, purchase or redeem any shares of its stock without the prior written approval of the Reserve Bank.
Compliance with Laws and Regulations
19. 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, Bankshares 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 (12 C.F.R. §§ 225.71 et seq.).
20. Bankshares 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
21. (a) Within 10 days of this Agreement, the boards of directors of Bankshares and the Bank shall appoint a joint committee (the “Compliance Committee”) to monitor and coordinate the Bank’s compliance with the provisions of this Agreement. The Compliance Committee shall include a majority of outside directors who are not executive officers or principal shareholders of the Bank, as defined in sections 215.2(e)(1) and 215.2(m)(1) of
[Page Break]
Page 15
Regulation O of the Board of Governors (12 C.F.R. §§ 215.2(e)(1) and 215.2(m)(1)). At a minimum, the Compliance Committee shall meet at least monthly, keep detailed minutes of each meeting, and report its findings to the board of directors of the Bank.
(b) Within 30 days after the end of each calendar quarter following the date of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner 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
22. (a) The Bank, and as applicable, Bankshares, shall submit written plans, programs, and an engagement letter that are acceptable to the Reserve Bank and the Commissioner within the applicable time periods set forth in paragraphs 2(b), 5, 6, 8(a), 8(b), 9(c), 10, 11, 12, 13, and 14(b) of this Agreement. An independent consultant acceptable to the Reserve Bank and the Commissioner shall be retained within the time period set forth in paragraph 2(a).
(b) Within 10 days of approval by the Reserve Bank and the Commissioner, the Bank, and as applicable, Bankshares, shall adopt the approved plans, programs, and engagement letter. Upon adoption, the Bank, and as applicable, Bankshares, 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]
Page 16
Communications
23. All communications regarding this Agreement shall be sent to:
(a) A. Linwood Gill, III Vice President
Federal Reserve Bank of Richmond P.O. Box 27622 Richmond, VA 23261-7622
(b) Joseph A. Smith, Jr. Commissioner
North Carolina Office of the Commissioners of Banks 4309 Mail Service Center Raleigh, NC 27699-4309
(c) James G. Graham
President and Chief Executive Officer Waccamaw Bankshares, Inc. Waccamaw Bank 110 North J.K. Powell Boulevard Whiteville, NC 28472
Miscellaneous
24. Notwithstanding any provision of this Agreement, the Reserve Bank and the Commissioner may, in their sole discretion, grant written extensions of time to Bankshares and the Bank to comply with any provision of this Agreement.
25. The provisions of this Agreement shall be binding upon Bankshares, the Bank, and their institution-affiliated parties, in their capacities as such, and their successors and assigns.
26. 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.
27. 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]
Page 17
from taking any other action affecting Bankshares, the Bank or any of their current or former institution-affiliated parties and their successors and assigns.
28. 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) and by the Commissioner pursuant to the provisions of N.C. Gen. Stat. 53-107.1 (2005).
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the 14th day of June, 2010.
Signed by Alan W. Thompson Chairman of the Board, Waccamaw Bankshares, Inc. Waccamaw Bank
Signed by A. Linwood Gill, III Vice President, Federal Reserve Bank of Richmond
Signed by Joseph A. Smith, Jr. Commissioner of Banks, State of North Carolina

 

Community First Bank and Trust Columbia Tennesse

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.

First Community Bank Lexington South Carolina

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.

East Carolina Bank Engelhard North Carolina

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.

Email page  PDF view  Print view
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

Advantage Bank Cambridge Ohio

December 21, 2011


This is James Huston the CEO

James got this place on the problem bank list for “detrimental management practices”

He got paid $614k to wipe out a 120 year bank and lose $25MM in the last 2 years

This is one fat cat bankster. How many chins does this guy have?

Advantage Bank Cambridge Ohio was founded in 1891.  The company is on the problem bank list and has entered into a cease and desist agreement on 7/31/09.  Among adverse practices cited were management policies that were detrimental to the bank, inadequate capital, excessive delinquent loans and get this “hazardous lending practices? “Advantage Bank” how about disadvantage bank. The Texas ratio is 65%

The company has $816MM in assets and $47MM in equity

Problem loans consist of $7MM in loans past due 30-90 days with $40MM in non accrual and $10MM in OREO.

Net income was ($14MM) in FY10 and ($11MM) in FY09.

So this company has $47MM in bad debt supported by $47MM in equity

This place is insolvent, why has it not been shut down?

Have no fear, the executive compensation has not been impacted.

James Huston made $614K

David Caldwell made $185K

Tony Greenwalt made $176K

So James Huston destroyed a 120 year institution and was paid $614K to wipe this place out, not a bad gig.

It must be cool to engage in “hazardous lending practices” and get paid $600K a year, that is and advantage!

It looks like the regulators are keeping an eye on things.

Do you have money in this disaster?

Call James Houston, it is not bad to charge $614k to lose $25MM.

He wiped out 53% of the equity in only 3 years.


Eastern Virginia Bancshares Tappahannock, VA Joe Shearin took $24,000,000 of tax payer money Joe made $56,000,000 in bad loans Joe makes $438,000 to take out your money Joe is a criminal

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.

Pinnacle Bank Orange City Florida

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

 

Ocean Bank Miami Florida Problem Bank List Laundering Drug $

December 17, 2011

Would you trust this person?

This is Alfonso, he bankrupted this place

Why is this clown smiling? Weakness in management, that might be you Alfonso

Ocean Bank Miami Florida, was founded in 1982.  This place is a complete disaster.  They are on the problem bank list for weakness in management, asset quality, capital, liquidity and earnings.  The Texas ratio is 100%.

Weakness in management? How does incompetent sound.

Assets are $3.5B with $115MM in equity.

Take a look at the problem loan portfolio, it is staggering.  They have $562MM in problem loans.  There are $121MM in past due construction loans, that alone will bankrupt this place.

With $562MM in bad loans and $150MM in equity, this place is bankrupt.

Why is this zombie bank not closed down?

What are the regulators thinking about?

This bank is a Ponzi scheme, that the government allows to continue.

Net income was ($116MM) in FY10 and ($96MM) in FY09.  They lost another $24MM in Q2 2011, that should keep them on track to lose another $100MM this year.

They lost another $24MM in Q1 2011. This place should be bankrupt by year end.

Check out the website, they have 100’s of acres of vacant land for sale.  Who in their right mind finances vacant land?

The CEO is Alfonso Macedo, apparently he likes to finance vacant land.

This cat wiped out 98% of the equity in 3 years.

Alfonso, you turned this bank into an unmitigated disaster.

Alfonso, you have $562MM in problem loans, you are one savvy banker.

Didn’t the regulators say, they have weakness in management, shocking.

Alfonso, what are you going to do with all that vacant land?

Is this a bank or a REIT?

They were ordered by the regulators to raise $100MM.

Alfonso, loses a $100MM a year, sounds like a great investment.

How is the capital raising going?

Even Bernie Madoff wouldn’t get involved with this bankrupt entity.

Do you have money in this place.

Don’t forget the FDIC is also bankrupt.  Take your cash out of this disaster.

You might want to jump in the ocean, this bank is a ship wreck.

Reliance Bank St. Louis Missouri Run on the bank Monday Arlan took $40,000,000 of your money the tax payer is funding his country club expenses

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.

Tennessee Commerce Bank Franklin Tennessee

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.

Bankeast Knoxville Tennesse This Place is bankrupt Problem bank Worst bank in the state $30,000,000 in bad loans Bankrupt

December 17, 2011

 

This is Kenneth Dobbins, he likes to engage in hazardous commercial lending

Bankeast Knoxville Tennessee was founded in 1968.  The company is on the problem bank list, for hazardous commercial real estate lending.  The Texas ratio is 238%, making it the worst bank in the state.

They are also on the list of under capitalized banks.  The tier 1 risk based capital is 3.88%, slightly less the 8% target.  You might as well throw them on the insolvent bank list.

Assets are $281MM with equity of $2MM.

The have $30MM in problem loans.

With $30MM in problem loans and $2MM in equity, this place is beyond bankrupt.

Do you think the regulators should close this disaster down?

Check out the financial performance. Net income was ($10MM) in FY10, ($10MM) in FY09 and ($2MM) in FY08.  They lost another $532k in Q1 2011. Check it out, they lost another $600K in Q2, bankrupt in no time

They lost another $4.2MM or 188% of their remaining equity, this place should be bankrupt in the near future.

Check out the website, they won’t tell you who the CEO is, or post the financial statements.

I guess when you destroy 483% of the equity, you might want to keep a low profile.

Do you keep your money is this place?

Western National Bank Phoenix Arizona closed by the FDIC Thanks Bill Hinz

December 17, 2011

Western National Bank Phoenix Arizona was founded in 2005. Good timing boys.  They are on the problem bank list. See, you need a solid Texas ratio of 166%, to become a member of this prestigious group.

Hold on, they are also a member of the under capitalized bank list.  These clowns didn’t waste any time bankrupting this place.

Would you buy a used car from this guy?

It didn’t take Bill Hinz long to bankrupt this disaster

Assets are $153MM with equity of $7MM

Get this, the problem loan portfolio is $27MM.

So, they $27MM in problem loans and $7MM in equity.

This abortion is beyond bankrupt.

Why is this disaster not closed down?

Net income as ($11MM) in FY10 and ($3MM) in FY09, wait, they lost another $700k in Q1 2011.

Check this out they lost $6.1MM in Q3 2011 wiping out 318% of the equity in 3 months.

They now have $1.7MM in equity with $26MM in bad loans, this place will be bankrupt be year end.

Check out Bill Hinz, the CEO.

They pay him to wipe out 200% of the equity in only 3 years, this guy is good.

Are you letting Bill Hinz keep an eye on your money?

This is the second worst bank in the state.

The bank will probably be bankrupt by year end, get your money out of this disaster

The FDIC is bankrupt.

Bill Hinz destroyed this company

Get you money out of this disaster

Central Progessive Bank Lacombe Lousianna

November 9, 2011

This place went down last week, we called it

Dickie Blossom ran this place into the ground

 

Central Progressive Bank Lacombe Louisiana was founded in 1967. This place is on the problem bank list

The bank is  a bankrupt disaster.

They have $397MM in assets.

There are $94MM in problem loans

The equity position was $21MM in Q2 2011, they lost $19MM in Q3.

The resulting equity position is $2MM

Take a look, the management team wiped out 95o% of the equity in Q3 2011 alone

This place has $94MM in bad loans and $2MM in equity??

The bank will bank will be history by year end.

The bank is beyond bankrupt

This place should be shut down

Do you have money in this bankrupt disaster?

Your tax payer money money will be used to finance this train wreck

It looks like the CEO is “Dickie” Blossman, can’t make that name up

Dickie is what is going to happen to the tax payer

The efficiency ratio is 188%, Dickie loses money just opening up the doors.

Dickie, when net income  is $5MM and the overhead is $15MM, based your operating leverage you are history.

How about changing the name, you are progressing towards bankruptcy.

Do you have money in this disaster?

FDIC is Bankrupt

October 30, 2011

 

 

 

 

The FDIC is bankrupt

They have $3,916MM to insure $6,539,164MM

That is .006  cents per dollar

The FDIC is  bankrupt

The Wilton Bank Wilton Connecticut

October 29, 2011

Take a look at the new site

capital2risk.com

 


Ralphie lost another $3,200,000 in Q4  wiping out another 30% of the remaining equity

This bankster hasn’t posted the financial statements on the website since 2008, think he is trying to hide something

 Take a look a the sh$$t loans in relation to the equity position, it will make you want to Ralph

Do you have money in this bankrupt disaster? Take it out

This is Ralph Slater he runs the worst bank in Connecticut, he is one savvy banker

They are on the problem bank list for unsafe and unsound lending practices

The problem loan portfolio and the earnings will make you want to Ralph

Hold on, these clowns are giving money away,this is the worst bank in the state

This is Charles Howell CEO, Charles ran this place into the ground

Charles runs the worst bank in the state

They lost $2.6MM in Q 3, the efficiency ratio is 167%

They are not on problem bank  for nothing

The Wilton Bank Wilton Connecticut was founded in 1987.  Based on the Texas ratio of 150%, this is the worst bank in Connecticut.  They have a rating of 1 which is the lowest on the scale.  This is based on questionable asset quality. The bank is on the problem bank list for unsafe and sound lending practices.

The bank has assets of $78MM with equity of $10.3MM

There are $17MM in problem loans, with $10MM in equity.

This place is looking bankrupt.

They lost $2.6MM in Q3 2011 in alone or 30% of the remaining equity

Ralph Slater is the CEO, he has done a fine job of running this place into the ground.

The efficiency ratio is 167%, these clowns lose money just opening up the doors, let alone making bad loans.

When the net income in FY10 is $2.2MM and the overhead is $3.6MM, these jokers might want to take a look at their operating leverage.

Do you have money in this bankrupt entity?

thewiltonbank.com

Darien Rowayton Bank Darien Connecticut

August 1, 2011

Maybe this kid should be giving these two savvy bankers a check

Darien business of the year?

Darien Rowayton Bank, Darien Connecticut was founded in 2006.  That was a great time to start a bank. They have a 1 star rating on a 5 star scale, which is the lowest.  The Texas ratio is 22%.

Assets are $149MM, with equity of $12MM

The problem loan portfolio is $3MM.

The problem loans could effectively put a serious strain on the equity position.

Not only is this bank adept at making bad loans, they are even better at losing money.

Net income was ($2.8MM) in FY10 and ($2.6MM) in FY09.  Hold on, it gets better, they lost another $1.3MM in Q1 2011. They lost another $817k in Q2, they are on track to lose $4MM this year.

At this rate, this place could be bankrupt by year end.

In FY10, income was $2.9MM and overhead was $5MM.  Do you think this management team might want to take a look at their operating leverage?

The efficiency ratio is 203%.

This place loses money, just opening up the door.

I though these bankers in Fairfield County, were the smartest bankers in the country.

Bert Knotts is the CEO and Robert Kettenman is the COO. These are the savvy bankers, that are wiping out the shareholders and running this place into the ground in record time.

It didn’t take Bert Knotts long to bankrupt this place.

They would better off with Don Knotts.

Take a look at this, they were the Darien Chamber of Commerce Business of the year in 2010.

Hold on, they lost $2.8MM and they are the business of the year?

Is this your bank?

You can sleep safe and sound, with Bert Knotts holding your money.

Then again, by year end this place could be floating in Long Island Sound

This place is  junk

Flagstar Bank Troy Michigan

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.

Liberty Bank West Des Moines Iowa

July 26, 2011

Here is the new site

capital2risk.com

Bill Krause got his bank on the problem  bank list

Bill likes to engage in unsafe and unsound banking practices and violations of law

Bill Kraus owns THE WORST BANK in Iowa

Bill Krause has $110,000,000 in bad loans and only $24,000,000 in equity

This bank is bankrupt, Bill Kraus ran this disaster into the ground

Bill likes to Cum and go, he practices unsafe banking with no prophylactics.


Bill Krause practices unsafe and unsound banking practices and violations of the law.

.

Liberty Bank, West Des Moines Iowa was founded in 1972.  This bank tanked in record time.  They were recently put on the problem bank list.  They were given a cease and desist order, as well as cited for unsafe and unsound banking practices and violations of law.  The bank is operating with inadequate capital, excessive classified assets and management that is detrimental to the company.  The Texas ratio is 188%.

Assets are $1B with equity of $29MM.

The problem loan portfolio, in relation to the remaining equity position is staggering.  The problem loans are $99MM.

With $99MM in problem loans and $29MM in equity, this bank is bankrupt.

Why isn’t this place shut down?

Why did it take so long for the regulators to even put it on the problem bank list?

The bank lost $45MM in FY10, that might have been an indication that there was a problem.  Eradicating 31% of the equity in one year, might be an indicator of trouble.

Bill Kraus lost $45,000,000 in 2011, Bill wiped out the stockholders

Bill Krause and John Rathjen, did an admirable job of running this place into the ground and wiping out the shareholders in record time.  They must be the detrimental management that the regulators were referring to.

Speaking of Cum and Go, Bill came all over the stockholders

He wiped out 314% of the equity in 3 years

How is that for blowing your load?

This management team has the ability to lose tons of money and make a lot of bad loans.

Kum and go?

This is John Rathjen this bald clown, wiped out all the shareholders and made $100,000,000 in bad loans

Why is this dope smiling? He gets paid got money to destroy this place

The bank forgot to post their financial statements on the website.  I guess they are not at liberty to share them.

Hopefully this is not your bank.

Liberty is looking bankrupt

Take your money out of this bankrupt disaster

Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 1 of 17
UNITED STATES OF AMERICA
Before the
OFFICE OF THRIFT SUPERVISION
)
In the Matter of ) Order No.: CN 11-23
)
)
LIBERTY BANK, FSB ) Effective Date: July 14, 2011
)
)
West Des Moines, Iowa )
OTS Docket No. 15717 )
)
ORDER TO CEASE AND DESIST
WHEREAS, Liberty Bank, FSB, West Des Moines, Iowa, OTS Docket No. 15717
(Association), by and through its Board of Directors (Board), has executed a Stipulation and
Consent to Issuance of an Order to Cease and Desist (Stipulation); and
WHEREAS, the Association, by executing the Stipulation, has consented and agreed to
the issuance of this Order to Cease and Desist (Order) by the Office of Thrift Supervision (OTS)
pursuant to 12 U.S.C. § 1818(b); and
WHEREAS, pursuant to delegated authority, the OTS Regional Director for the Central
Region (Regional Director) is authorized to issue Orders to Cease and Desist where a savings
association has consented to the issuance of an order.
NOW, THEREFORE, IT IS ORDERED that:
Cease and Desist.
1. The Association, its directors, officers, employees and agents , shall cease and desist
from any action (alone or with others) for or toward causing, bringing about, participating in,
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 2 of 17
counseling, or the aiding and abetting the unsafe or unsound practices and/or violations of law or
regulation that resulted in the Association: (a) operating with an inadequate level of capital
protection for the volume, type and quality of assets held by the Association; (b) operating with
an excessive level of adversely classified assets; (c) failing to accurately reflect the financial
condition of the Association in Thrift Financial Reports; and (d) operating with management
whose policies and practices have been detrimental to the Association as described in the OTS
Comprehensive Limited Report of Examination dated April 11, 2011 (2011 Limited ROE).
Capital.
2. By September 30, 2011, the Association shall have and maintain: a Tier 1 (Core) Capital
Ratio equal to or greater than nine percent (9%) after the funding of an adequate Allowance for
Loan and Lease Losses (ALLL) and a Total Risk-Based Capital Ratio equal to or greater than
twelve percent (12%).1
Capital and Business Plan.
3. By August 31, 2011, the Association shall submit to the Regional Director a written plan
(Capital and Business Plan) for the period beginning with July 1, 2011 through December 31,
2013 addressing the requirements of this Order and including capital enhancement strategies
necessary for the Association to have and maintain capital at the levels prescribed in
Paragraph 2. At a minimum, the Capital and Business Plan shall:
(a) identify the specific sources and methods by which additional capital will be
raised to achieve and maintain the Association’s capital at the levels prescribed in
Paragraph 2;
1 The requirement in Paragraph 2 to have and maintain a specific capital level means that the Association may not be
deemed to be “well-capitalized” for purposes of 12 U.S.C. §1831o and 12 C.F.R. Part 565, pursuant to 12 C.F.R.
§565.4(b)(1)(iv).
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 3 of 17
(b) detail the Association’s capital preservation and enhancement strategies with
specific narrative goals;
(c) contain operating strategies to improve core earnings;
(d) include quarterly financial projections (balance sheet and income statement),
including Tier 1 (Core) and Total Risk Based Capital Ratios, for the period covered by
the Capital and Business Plan;
(e) identify all relevant assumptions made in formulating the Capital and Business
Plan; and
(f) indicate that all documentation supporting the assumptions and projections in the
Capital and Business Plan shall be retained by the Association.
4. Upon receipt of written notice of non-objection from the Regional Director to the Capital
and Business Plan, the Board shall promptly approve the Capital and Business Plan, and the
Association shall immediately implement and adhere to the Capital and Business Plan. A copy
of the Capital and Business Plan shall be provided to the Regional Director within seven (7) days
after Board approval.
5. Any material modifications2 to the Capital and Business Plan must receive the prior
written non-objection of the Regional Director. The Association shall submit proposed material
modifications to the Regional Director at least forty-five (45) days prior to implementation.
6. By December 31, 2011, and each December 31st thereafter, the Capital and Business
Plan shall be updated and submitted to the Regional Director pursuant to Paragraph 3 above and
shall incorporate the Association’s budget plan and profit projections for the next two (2) fiscal
2 A modification shall be considered material under this Paragraph if the Association (a) plans to engage in any
activity that is inconsistent with the Capital and Business Plan; or (b) exceeds the level of any activity contemplated
in the Capital and Business Plan by more than ten percent (10%).
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 4 of 17
years taking into account any revisions to the Association’s loan, investment and operating
policies.
Capital and Business Plan Variance Reports.
7. Within fifty-five (55) days after the end of each quarter, beginning with the first quarter
ending after implementation of the Capital and Business Plan, the Board shall review written
quarterly variance reports on the Association’s compliance with its Capital and Business Plan
(Variance Reports). The minutes of the Board meeting shall fully document the Board’s review
and discussion. The Variance Reports shall:
(a) identify variances in the Association’s actual performance during the preceding
quarter as compared to the projections set forth in the Capital and Business Plan;
(b) contain an analysis and explanation of identified variances; and
(c) discuss the specific measures taken or to be taken by the Association to address
identified variances.
8. A copy of each Variance Report shall be provided to the Regional Director within seven
(7) days after the Board meeting at which it was reviewed and discussed.
Contingency Plan.
9. Within fifteen (15) days after: (a) the Association fails to meet the capital requirements
prescribed in Paragraph 2; (b) the Association fails to comply with the Capital and Business Plan
prescribed in Paragraph 3; or (c) any written request from the Regional Director, the Association
shall submit a written contingency plan (Contingency Plan) that is acceptable to the Regional
Director.
10. The Contingency Plan shall detail the actions to be taken, with specific time frames, to
achieve one of the following results by the later of the date of receipt of all required regulatory
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 5 of 17
approvals or sixty (60) days after the implementation of the Contingency Plan: (a) merger with,
or acquisition by, another federally insured depository institution or holding company thereof; or
(b) voluntary dissolution by filing an appropriate application with the OTS in conformity with
applicable laws, regulations and regulatory guidance.
11. Upon receipt of written notification from the Regional Director, the Association shall
immediately implement and adhere to the Contingency Plan. The Association shall provide the
Regional Director with written status reports detailing the Association’s progress in
implementing the Contingency Plan by no later than the first (1st) and fifteenth (15th) of each
month following implementation of the Contingency Plan.
Problem Assets.
12. By August 31, 2011, the Association shall submit to the Regional Director a detailed,
written plan with specific strategies, targets and timeframes to reduce3 the Association’s level of
problem assets4 (Classified Asset Reduction Plan). The Classified Asset Reduction Plan, at a
minimum, shall include:
(a) quarterly targets for the level of classified assets as a percentage of Tier 1 (Core)
capital plus ALLL;
(b) a description of the methods for reducing the Association’s level of classified
assets to the established targets; and
(c) all relevant assumptions and projections based on a best-case scenario, a worstcase
scenario, and a most probable case scenario, and documentation supporting such
assumptions and projections.
3 For purposes of this Paragraph, “reduce” means to collect, sell, charge off, or improve the quality of an asset
sufficient to warrant its removal from adverse criticism or classification.
4 The term “problem assets” shall include all classified assets and assets designated as special mention.
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 6 of 17
13. Upon receipt of written notification from the Regional Director that the Classified Asset
Reduction Plan is acceptable, the Board shall promptly approve the Classified Asset Reduction
Plan, and the Association shall immediately implement and adhere to the Classified Asset
Reduction Plan. The Board’s review of the Classified Asset Reduction Plan shall be documented
in the Board meeting minutes.
14. By August 31, 2011, the Association shall develop individual written specific workout
plans (Asset Workout Plans) for each Problem Asset or group of Problem Assets to any one
borrower or loan relationship of Two Million Dollars ($2,000,000.00) or greater .
15. Within fifty-five (55) days after the end of each quarter, beginning with the quarter
ending June 30, 2011, the Association shall submit a quarterly written asset status report
(Quarterly Asset Report) to the Board. The Board’s review of the Quarterly Asset Report shall
be documented in the Board meeting minutes. The Quarterly Asset Report shall include, at a
minimum:
(a) the current status of all Asset Workout Plans;
(b) the ratio of classified assets to Tier 1 (Core) capital plus ALLL;
(c) a comparison of classified assets at the current quarter end with the preceding
quarter;
(d) a breakdown of classified assets by type and risk factor
(e) an assessment of the Association’s compliance with the Classified Asset
Reduction Plan;
(f) a discussion of the actions taken during the preceding quarter to reduce the
Association’s level of classified assets; and
(g) any recommended revisions or updates to the Classified Asset Reduction Plan.
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 7 of 17
16. Within sixty (60) days after the end of each quarter, a copy of the Quarterly Asset Report
shall be provided to the Regional Director.
Restriction on Lending.
17. Effective immediately, the Association shall not extend, directly or indirectly, without
prior written non-objection from the Regional Director, any additional credit to, or for the benefit
of, any borrower who has loan(s) or other extension(s) of credit from the Association that in the
aggregate have an unpaid principal amount exceeding Two Million Dollars ($2,000,000) if one
or more loan or loans is a Problem Asset. The Association’s expenses incurred in connection
with its real estate owned, including in-substance foreclosures, are not covered by this Paragraph.
18. Effective immediately, the Association shall not extend any credit to a borrower to
facilitate the sale of real estate owned, without the prior written non-objection of the Regional
Director, where the loan amount exceeds Two Million Dollars ($2,000,000).
19. Effective immediately, the Association shall not extend, directly or indirectly, any
additional credit to or for the benefit of any borrower who has loans with the Association that are
adversely classified as “Substandard” or “Doubtful” unless prior to extending such additional
credit whether in the form of a renewal, extension, or further advance of funds, such additional
credit shall be approved by the Board or a designated committee thereof, who shall certify in
writing:
(a) the reasons why the extension of such credit is in the best interests of the
Association using current underwriting information, such as updated borrower financial
information and a current appraisal, if applicable; and
(b) that an appropriate workout plan has been developed and will be implemented in
conjunction with the additional credit to be extended.
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 8 of 17
The signed certification shall be made a part of the minutes of the meeting of the Board or
designated committee with a copy retained in the borrower’s credit file. The Association’s
expenses incurred in connection with its real estate owned, including in-substance foreclosures,
are not covered by this Paragraph.
Concentrations of Credit.
20. By August 31, 2011, the Association shall revise its written program for identifying,
monitoring, and controlling risks associated with concentrations of credit (Credit Concentration
Program) to ensure that it is acceptable to the Regional Director and addresses all corrective
actions set forth in the June 28, 2010 Comprehensive Report of Examination relating to
concentrations of credit. The Credit Concentration Program shall comply with all applicable
laws, regulations and regulatory guidance and shall:
(a) establish comprehensive concentration limits expressed as a percentage of Tier 1
(Core) Capital plus allowance for loan and lease losses (ALLL), and document the
appropriateness of such limits based on the Association’s risk profile;
(b) establish stratification categories of the Association’s concentrations of credit,
such as land loans, construction loans, income property loans, nonresidential real estate
loans, commercial loans, and establish enhanced risk analysis, monitoring, and
management for each stratification category;
(c) contain specific review procedures and reporting requirements, including written
reports to the Board, designed to identify, monitor, and control the risks associated with
concentrations of credit and periodic market analysis for the various property types and
geographic markets represented in its portfolio; and
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 9 of 17
(d) contain a written action plan, including specific time frames, for bringing the
Association into compliance with its concentration of credit limits.
21. Upon receipt of written notification from the Regional Director that the Credit
Concentration Program is acceptable, the Board shall promptly approve the Credit Concentration
Program, and the Association shall immediately implement and adhere to the Credit
Concentration Program. The Board’s review of the Credit Concentration Program shall be
documented in the Board meeting minutes.
22. Within fifty-five (55) days after the end of each quarter, beginning with the quarter
ending June 30, 2011, the Board shall review the appropriateness of the Association’s
concentration limits given current conditions and the Association’s compliance with its Credit
Concentration Program including the written action plan to revise the current level of
concentrations. The Board’s review of the Association’s Credit Concentration Program shall be
documented in the Board meeting minutes.
Liquidity Management.
23. By August 31, 2011, the Association shall revise its liquidity and funds management
policy (Liquidity Management Policy) to address all corrective actions set forth in the 2011
Limited ROE relating to liquidity and funds management. The Liquidity Management Policy
shall comply with all applicable laws, regulations and regulatory guidance.
24. The Liquidity Management Policy shall include a Contingency Funding Plan, which
shall, at a minimum, include:
(a) alternative funding sources for meeting extraordinary demands or to provide
liquidity in the event the sources identified are insufficient. Such alternative funding
sources must consider, at a minimum, the selling of assets, obtaining secured lines of
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 10 of 17
credit, recovering charged-off assets, injecting additional equity capital, and the priority
of their implementation; and
(b) retention of investment securities and other identified categories of investments
that can be liquidated or pledged in a reasonably short period of time and at minimal
expense to the Association in amounts sufficient (as a percentage of the Association’s
total assets) to ensure the maintenance of the Association’s liquidity position at a level
consistent with short- and long-term liquidity objectives.
25. By August 31, 2011, the Association shall submit its Liquidity Management Policy to the
Regional Director for review and comment. Upon receipt of written notification from the
Regional Director that the Liquidity Management Policy is acceptable, the Board shall promptly
approve the Liquidity Management Policy and the Association shall implement and adhere to the
Liquidity Management Policy. The Board’s review of the Liquidity Management Policy shall be
documented in the Board meeting minutes.
26. Effective immediately, the Association shall submit to the Regional Director written
assessments of its current liquidity position (Liquidity Report) pursuant to a schedule to be
established by the Regional Director.
The Liquidity Report shall be acceptable to the Regional Director and, at a minimum, include:
(a) cash on hand;
(b) a maturity schedule of certificates of deposit, including, but not limited to, large
uninsured deposits and brokered deposits;
(c) the volatility of demand deposits, including escrow deposits;
(d) a schedule of all funding obligations, including money market accounts, unfunded
loan commitments, outstanding lines of credit and outstanding letters of credit;
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 11 of 17
(e) a listing of funding sources, including federal funds sold; unpledged assets and
assets available for sale; and borrowing lines by lender, including original amount,
remaining availability, type and book value of collateral pledged, terms, and maturity
date, if applicable;
(f) an analysis of the continuing availability and volatility of present funding sources;
(g) an analysis of the impact of decreased cash flow from the Association’s loan
portfolio resulting from delinquent and non-performing loans; and
(h) an analysis of the impact of decreased cash flow from the sale of loans or loan
participations.
27. Within five (5) days of receipt of communication from a Federal Home Loan Bank,
Federal Reserve Bank, correspondent bank, or government agency with collateralized public unit
deposits regarding changes in the Association’s borrowing and/or collateral requirements, the
Association shall notify the Regional Director of such communication.
Management Study.
28. By August 31, 2011, the Association shall retain an independent third-party, acceptable
to the Regional Director, to conduct a management study as outlined in Paragraph 29
(Management Study).
29. In light of the Association’s risk profile and activities, the Management Study shall, at a
minimum, include:
(a) assessment of the skills and experience possessed by the current members of the
Board in connection with the Association’s risk profile and activities;
(b) assessment of the Board’s independence and fulfillment of its oversight function;
(c) assessment whether the capabilities of the Board as a whole would be enhanced
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 12 of 17
through the addition of persons with particular skills and experience;
(d) assessment of the Board’s succession plan;
(e) establishment of minimum qualifications for directors of the Association;
(f) development of an education plan for the Board that identifies the training to be
provided, which shall include training relating to a director’s fiduciary responsibilities
and the provision of information necessary to perform director responsibilities as
contained in regulatory guidance;
(g) assessment of the current Senior Executive Officers,5 the Association’s
organizational structure, and staffing levels of the Association;
(h) identification of present and future staffing requirements for each business line of
the Association commensurate with the Association’s Business Plan;
(i) evaluation of the performance of the Association’s current Senior Executive
Officers and members of the Board , including an assessment of whether compensation is
commensurate with job duties and responsibilities in compliance with 12 C.F.R. §
563.161(b);
(j) establishment of quantitative and qualitative standards by which the effectiveness
of Senior Executive Officers will be measured; and
(k) assessment of the adequacy of communication between Senior Executive Officers
and the Board, and of the quality and timeliness of reports to the Board.
30. By November 15, 2011, the Management Study shall be completed and forwarded
simultaneously to the Board and to the Regional Director.
5 The term “Senior Executive Officer” is defined at 12 C.F.R. § 563.555.
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 13 of 17
Violations of Law.
31. By August 31, 2011, the Association shall ensure that all violations of law and/or
regulation discussed in the 2011 Limited ROE are corrected and that adequate policies,
procedures and systems are established or revised and thereafter implemented to prevent future
violations.
Growth.
32. Effective immediately, the Association shall not increase its total average assets during
any quarter in excess of an amount equal to net interest credited on deposit liabilities during the
prior quarter without the prior written non-objection of the Regional Director.
Golden Parachute Payments.
33. Effective immediately, the Association shall not make any golden parachute payment6
unless, with respect to such payment, the Association has complied with the requirements of
12 C.F.R. Part 359.
Directorate and Management Changes.
34. Effective immediately, the Association shall comply with the prior notification
requirements for changes in directors and Senior Executive Officers set forth in 12 C.F.R.
Part 563, Subpart H.
Employment Contracts and Compensation Arrangements.
35. Effective immediately, the Association shall not enter into any new contractual
arrangement or renew, extend, or revise any contractual arrangement relating to compensation or
benefits for any director or Senior Executive Officer of the Association, unless it first provides
the Regional Director with not less than thirty (30) days prior written notice of the proposed
6 The term “golden parachute payment” is defined at 12 C.F.R. § 359.1(f).
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 14 of 17
transaction. The notice to the Regional Director shall include a copy of the proposed
employment contract or compensation arrangement or a detailed, written description of the
compensation arrangement to be offered to such director or Senior Executive Officer, including
all benefits and perquisites. The Board shall ensure that any contract, agreement, or arrangement
submitted to the Regional Director fully complies with the requirements of 12 C.F.R. Part 359,
12 C.F.R. §§ 563.39 and 563.161(b), and 12 C.F.R. Part 570 – Appendix A.
Third Party Contracts.
36. Effective immediately, the Association shall not enter into any arrangement or contract
with a third party service provider that is significant to the overall operation or financial
condition of the Association7 or outside the Association’s normal course of business unless, with
respect to each such contract, the Association has: (a) provided the Regional Director with a
minimum of thirty (30) days prior written notice of such arrangement or contract and a written
determination that that the arrangement or contract complies with the standards and guidelines
set forth in OTS Thrift Bulletin 82a; and (b) received written notice of non-objection from the
Regional Director.
Brokered Deposits.
37. Effective immediately, the Association shall comply with the requirements of 12 C.F.R.
§ 337.6(b). The Association shall provide to the Regional Director a copy of any waiver request
submitted to the Federal Deposit Insurance Corporation.
7 A contract will be considered significant to the overall operation or financial condition of the Association where
the annual contract amount equals or exceeds two percent (2%) of the Association’s total capital, where there is a
foreign service provider, or where it involves information technology that is critical to the Association’s daily
operations without regard to the contract amount.
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 15 of 17
Dividends and Other Capital Distributions.
38. Effective immediately, the Association shall not declare or pay dividends or make any
other capital distributions, as that term is defined in 12 C.F.R. § 563.141, without receiving the
prior written approval of the Regional Director in accordance with applicable regulations and
regulatory guidance. The Association’s written request for approval shall be submitted to the
Regional Director at least thirty (30) days prior to the anticipated date of the proposed
declaration, dividend payment or distribution of capital.
Transactions with Affiliates.
39. Effective immediately, the Association shall not engage in any new transaction with an
affiliate unless, with respect to each such transaction, the Association has complied with the
notice requirements set forth in 12 C.F.R. § 563.41(c)(4), which shall include the information set
forth in 12 C.F.R. § 563.41(c)(3). The Board shall ensure that any transaction with an affiliate
for which notice is submitted pursuant to this Paragraph, complies with the requirements of 12
C.F.R. § 563.41 and Regulation W, 12 C.F.R. Part 223.
Effective Date, Incorporation of Stipulation.
40. This Order is effective on the Effective Date as shown on the first page. The Stipulation
is made a part hereof and is incorporated herein by this reference.
Duration.
41. This Order shall remain in effect until terminated, modified, or suspended, by written
notice of such action by the OTS, acting by and through its authorized representatives.
Time Calculations.
42. Calculation of time limitations for compliance with the terms of this Order run from the
Effective Date and shall be based on calendar days, unless otherwise noted.
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 16 of 17
43. The Regional Director or an OTS authorized representative may extend any of the
deadlines set forth in the provisions of this Order upon written request by the Association that
includes reasons in support for any such extension. Any OTS extension shall be made in writing.
Submissions and Notices.
44. All submissions, including any reports, to the OTS that are required by or contemplated
by this Order shall be submitted within the specified timeframes.
45. Except as otherwise provided herein, all submissions, requests, communications,
consents, or other documents relating to this Order shall be in writing and sent by first class U.S.
mail (or by reputable overnight carrier, electronic facsimile transmission, email or hand delivery
by messenger) addressed as follows:
(a) To the OTS:
Regional Director
Office of Thrift Supervision
One South Wacker Drive, Suite 2000
Chicago, Illinois 60606
Facsimile: (312) 917-5001
(b) To the Association:
Chairman of the Board and President
Liberty Bank, FSB
6400 Westown Parkway
West Des Moines, Iowa 50266
Facsimile: (515) 223-8555
Courtesy Copy to:
John Rathjen
President & CEO
Liberty Bank, FSB
6400 Westown Parkway
West Des Moines, Iowa 50266
Facsimile: (515) 223-8555
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 17 of 17
Transfer Date
46. Following the Transfer Date, see Dodd-Frank Wall Street Reform and Consumer
Protection Act, Pub. Law No. 111-203, § 311, 124 Stat. 1520 – 21 (2010), all submissions,
requests, communications, consents or other documents relating to this Order shall be directed to
the Comptroller of the Currency, or to the individual, division, or office designated by the
Comptroller of the Currency.
Successors and Assigns.
47. All references to the OTS in this Memorandum shall also mean any of the OTS’s
predecessors, successors, and assigns.
No Violations Authorized.
48. Nothing in this Order or the Stipulation shall be construed as allowing the Association, its
Board, officers, or employees to violate any law, rule, or regulation.
IT IS SO ORDERED.
OFFICE OF THRIFT SUPERVISION
By: /s/
Daniel T. McKee
Regional Director, Central Region
Liberty Bank, FSB
West Des Moines, Iowa
Stipulation and Consent to Issuance of Order to Cease and Desist
Page 1 of 5
UNITED STATES OF AMERICA
Before the
OFFICE OF THRIFT SUPERVISION
)
In the Matter of ) Order No.: CN 11-23
)
)
LIBERTY BANK, FSB ) Effective Date: July 14, 2011
)
)
West Des Moines, Iowa )
OTS Docket No. 15717 )
)
STIPULATION AND CONSENT TO ISSUANCE OF ORDER TO CEASE AND DESIST
WHEREAS, the Office of Thrift Supervision (OTS), acting by and through its Regional
Director for the Central Region (Regional Director), and based upon information derived from
the exercise of its regulatory and supervisory responsibilities, has informed Liberty Bank, FSB,
West Des Moines, Iowa, OTS Docket No. 15717 (Association) that the OTS is of the opinion
that grounds exist to initiate an administrative proceeding against the Association pursuant to 12
U.S.C. § 1818(b);
WHEREAS, the Regional Director, pursuant to delegated authority, is authorized to
issue Orders to Cease and Desist where a savings association has consented to the issuance of an
order; and
WHEREAS, the Association desires to cooperate with the OTS to avoid the time and
expense of such administrative cease and desist proceeding by entering into this Stipulation and
Consent to the Issuance of Order to Cease and Desist (Stipulation) and, without admitting or
Liberty Bank, FSB
West Des Moines, Iowa
Stipulation and Consent to Issuance of Order to Cease and Desist
Page 2 of 5
denying that such grounds exist, but only admitting the statements and conclusions in Paragraphs
1 and 2 below concerning Jurisdiction, hereby stipulates and agrees to the following terms:
Jurisdiction.
1. The Association is a “savings association” within the meaning of 12 U.S.C. § 1813(b)
and 12 U.S.C. § 1462(4). Accordingly, the Association is an “insured depository institution” as
that term is defined in 12 U.S.C. § 1813(c).
2. Pursuant to 12 U.S.C. § 1813(q), the Director of the OTS is the “appropriate Federal
banking agency” with jurisdiction to maintain an administrative enforcement proceeding against
a savings association. Therefore, the Association is subject to the authority of the OTS to initiate
and maintain an administrative cease and desist proceeding against it pursuant to
12 U.S.C. § 1818(b).
OTS Findings of Fact.
3. Based on a limited examination of the Association dated April 11, 2011 (2011 Limited
ROE), the OTS finds that the Association has engaged in unsafe or unsound banking practices
and/or violations of law or regulation, that resulted in the Association: (a) operating with an
inadequate level of capital protection for the volume, type and quality of assets held by the
Association; (b) operating with an excessive level of adversely classified assets; (c) failing to
accurately reflect the financial condition of the Association in Thrift Financial Reports; and (d)
operating with management whose policies and practices have been detrimental to the
Association as described in the 2011 Limited ROE.
Consent.
4. The Association consents to the issuance by the OTS of the accompanying Order to
Cease and Desist (Order). The Association further agrees to comply with the terms of the Order
Liberty Bank, FSB
West Des Moines, Iowa
Stipulation and Consent to Issuance of Order to Cease and Desist
Page 3 of 5
upon the Effective Date of the Order and stipulates that the Order complies with all requirements
of law.
Finality.
5. The Order is issued by the OTS under 12 U.S.C. § 1818(b). Upon the Effective Date, the
Order shall be a final order, effective, and fully enforceable by the OTS under the provisions of
12 U.S.C. § 1818(i).
Waivers.
6. The Association waives the following:
(a) the right to be served with a written notice of the OTS’s charges against it as
provided by 12 U.S.C. § 1818(b) and 12 C.F.R. Part 509;
(b) the right to an administrative hearing of the OTS’s charges as provided by
12 U.S.C. § 1818(b) and 12 C.F.R. Part 509;
(c) the right to seek judicial review of the Order, including, without limitation, any
such right provided by 12 U.S.C. § 1818(h), or otherwise to challenge the validity of the
Order; and
(d) any and all claims against the OTS, including its employees and agents, and any
other governmental entity for the award of fees, costs, or expenses related to this OTS
enforcement matter and/or the Order, whether arising under common law, federal statutes
or otherwise.
OTS Authority Not Affected.
7. Nothing in this Stipulation or accompanying Order shall inhibit, estop, bar, or otherwise
prevent the OTS from taking any other action affecting the Association, or any institution
affiliated party, if at any time the OTS deems it appropriate to do so to fulfill the responsibilities
Liberty Bank, FSB
West Des Moines, Iowa
Stipulation and Consent to Issuance of Order to Cease and Desist
Page 4 of 5
placed upon the OTS by law.
Other Governmental Actions Not Affected.
8. The Association acknowledges and agrees that its consent to the issuance of the Order is
solely for the purpose of resolving the matters addressed herein, consistent with Paragraph 7
above, and does not otherwise release, discharge, compromise, settle, dismiss, resolve, or in any
way affect any actions, charges against, or liability of the Association that arise pursuant to this
action or otherwise, and that may be or have been brought by any governmental entity other than
the OTS.
Miscellaneous.
9. The laws of the United States of America shall govern the construction and validity of
this Stipulation and of the Order.
10. If any provision of this Stipulation and/or the Order is ruled to be invalid, illegal, or
unenforceable by the decision of any Court of competent jurisdiction, the validity, legality, and
enforceability of the remaining provisions hereof shall not in any way be affected or impaired
thereby, unless the Regional Director in his or her sole discretion determines otherwise.
11. All references to the OTS in this Stipulation and the Order shall also mean any of the
OTS’s predecessors, successors, and assigns.
12. The section and paragraph headings in this Stipulation and the Order are for convenience
only and shall not affect the interpretation of this Stipulation or the Order.
13. The terms of this Stipulation and of the Order represent the final agreement of the parties
with respect to the subject matters thereof, and constitute the sole agreement of the parties with
respect to such subject matters.
14. The Stipulation and Order shall remain in effect until terminated, modified, or suspended
Liberty Bank, FSB
West Des Moines, Iowa
Stipulation and Consent to Issuance of Order to Cease and Desist
Page 5 of 5
in writing by the OTS, acting through its Regional Director or other authorized representative.
Signature of Directors/Board Resolution.
15. Each Director signing this Stipulation attests that he or she voted in favor of a Board
Resolution authorizing the consent of the Association to the issuance of the Order and the
execution of the Stipulation. This Stipulation may be executed in counterparts by the directors
after approval of execution of the Stipulation at a duly called board meeting.
WHEREFORE, the Association, by its directors, executes this Stipulation.
LIBERTY BANK, FSB Accepted by:
West Des Moines, Iowa Office of Thrift Supervision
/s/ By: /s/
William A. Krause, Chairman Daniel T. McKee
Regional Director, Central Region
/s/ Date: See Effective Date on page 1
John Rathjen, Director
/s/
Dennis N. Folden, Director
/s/
Mathias P. Manning, Director
/s/
Brett J. Nuckolls, Director
RESIGNED
Michael E. Sarno, Director
/s/
James S. Swift, Director

BNC Bank Glendale Arizona

July 26, 2011

BNC Bank Glendale Arizona was founded in 2001.  The company is on the problem bank list.  The Texas ratio is 49%.

Assets are $681MM and equity is $58MM.

The problem loan portfolio is $32MM.

This place has issues.

If they had to write down the assets, it would probably be insolvent.

Not only can this crew make bad loans, they sure can lose money.

Net income is ($22MM) in FY10 and ($17MM) in FY09.

Gregory Cleveland is the CEO.

He was able to wipe out 29% of the equity in only 3 years.

The efficiency ratio is 134%, this place loses money just opening the doors.

The Union Bank Marksville Louisiana

July 25, 2011

 

Do you have money in this place? This FDIC is bankrupt, then again so is the Union bank.

The only thing you will get when this place goes under is  confederate money

The Union Bank Marksville Louisiana was founded in 1910.   The Company is on the problem bank list.  Get this, the Texas ratio is 89%.

They have assets of $231MM with equity of $17MM.

The problem loan portfolio is $19MM.

Having $19MM in problem loans and $17MM in equity, is not good.

This place is technically insolvent.

This bank should probably be closed down.

Funny how this thing survived the great depression and could go bankrupt.

The Citizens Bank of Edmond Edmond Oaklahoma

July 25, 2011

      This place survived the Great Depression, can it survive C.H. Wyatt?

The Citizens Bank of Edmond, Edmond Oklahoma was founded in 1912.  They are on the problem bank list.  The Texas ratio is 44%.

Assets are $265MM and equity is $19MM.

The problem loan portfolio is $10MM.

The problem loans could take down a significant portion of the equity.

It will be interesting to see if they can survive.

LegacyTexas Bank Plano Texas

July 24, 2011

 

That is a comforting statistic

LegacyTexas Bank, Plano Texas was founded in 1963.  The company is on the problem bank list.  The Texas ratio is 33%.

Assets are $1.3B with assets of $146MM.

The problem loan portfolio is $58MM.

The problem loans have the potential to severely erode the capital base.

It will be interesting to see if this place survives.

EVA Bank Eva Alabama

July 24, 2011

This is Dewayne Morris his bank is on the problem bank list

Dewayne like to engage in hazardous commercial lending

This is one of the worst banks in the state

This disaster is insolvent.

Check out the website, it looks like Dewayne like to finance vacant land


Richard George is kicking down some hazardous commercial real estate lending according to the FDIC

EVA Bank, Eva Alabama was founded in 1986.  The company is on the problem bank list for hazardous commercial real estate lending.  The Texas ratio is 90%, making it one of the worst banks in the state.

Assets are $371MM and equity is $21MM.

The problem loan portfolio is $26MM.

This place is insolvent.

Why is it not shut down?

Richard George, the CEO did an admirable job running this place into the ground.

How is the $16MM stock offering going?

Their motto is “every valuable advantage”.  It looks like they used every valuable advantage in making bad real estate loans.

Malvern Federal Savings Bank Paoli Pennsylvania

July 24, 2011

Ronald Anderson got the bank on the problem bank list for negligent commercial real lending and gets paid $242k to do it, not bad.

This place survived the Great Depression, will it survive Ronald Anderson?

Malvern Federal Savings Bank, Malvern Pennsylvania was founded in 1887.  The company is on the problem bank list for deficient commercial real estate lending.

Assets are $668MM and equity is $52M.

The problem loan portfolio is $20MM.

This high level of problem loans, could severely impact the equity base.

At least the executives pay themselves well.

Ronald Anderson   made $242k

Dennis Boyle            made $206k

Gerard McTear       made $149k

That is pretty good pay for wiping out 19% of the equity position and getting placed on the problem bank list.

North American Saving Bank Grandview Missouri

July 23, 2011

 

This says it all for this disaster

 

North American Savings Bank Grandview Missouri was founded in 1923.  It is on the problem bank list. The stock is facing delisting.

Assets are $1.4B with equity of $169MM.

The problem loan portfolio is $63MM.

The problem loans could severely impact the equity position.

The executives may be running this place into the ground, but they still pay themselves well.

David Hancock made $600k

Rhonda Nytius   made $180k

Keith Cox              made $355k

Bruce Thielen     made  $720k

David Hancock had a bonus of $300k and Bruce Thielen had a bonus of $500k.  That’s pretty good, you get a bonus for being on the problem bank list.

This is good pay for wiping out the stockholders, getting on the problem bank list and racking up tons of bad loans.

Is this your bank?

Presidential Bank Bethesda Maryland

July 23, 2011

Hire this clown as CEO, he looks Presidential?

Legal, I wouldn’t even buy a Godfather pizza from this guy

I only fondle white women

I guess my wife doesn’t want me to run

Ask him about our foreign policy in Libya

Presidential Bank, Bethesda Maryland was founded in 1985.  The company is on the problem bank list. The Texas ratio is 66%.

Assets are $591MM with equity of $43MM.

The company has $33MM in problem loans, I think they have a problem.

This balance sheet is under serious strain.

Bruce Clifford is the President.  Wow, this guy did a good job of racking up problem loans.

Bruce, you ran this place right into the ground.

I guess with this many bad loans, they are presidential.

Do you have your money in this stellar institution?

Bruce Clifford is not looking very presidential.

Academy Bank Colorado Springs Colorado

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?

Cornerstone Bank Atlanta Georgia

July 23, 2011

Here is the new site

capital2risk.com

This is Chris Burnett the CEO

Chris Burnett is the CEO who got this place on the problem bank list

They are also on the under capitalized bank list, that is a serious problem

It didn’t take Chris Burnett long to wipe this place out

Chris is sitting in $28,000,000 in junk loans with only $18,000,000 equity

Not sure why he smiling, he has a serious problem 

Do you have money in this bankrupt disaster? You are screwed!

This is Charles Yorke

Charles has helped wipe this place out

This is Frank Roach CFO

Frank you piece of junk bank is on the under capitalized, do you think there is a problem

No wonder he is half bald

Frank you lost $3,336,000 in Q4 2011

Cornerstone Bank, Atlanta Georgia was founded in 2001.  The bank is on the problem list.  They are currently under capitalized.  The Texas ratio is 77%.

Assets are $477MM, while equity is $24MM

Capitalization is 6.09%, below the 8% threshold.

The problem loan portfolio is $20MM.

Here they are opening a new branch so they can make more bad loans

The problem loans alone should wipe out most of the equity.

Here they are working on the $28,000,000 in problem loans

This place should be closed.

Chris Burnett is the CEO and Charles Youke is the President.

Call Paige Beebe she will get you a sub prime mortgage 401-601-1263

It didn’t take these two long make a ton of bad loans and run this place into the ground.

Things must be good, you are on the problem bank and the under capitalized bank list, driving around in this thing

This place is a cornerstone?

Is this your bank?

Farmers Bank Ault Colorado

July 23, 2011

Is this comforting?

Farmers Bank Ault Colorado was founded in 2000.  The company is on the problem bank list.  The Texas ratio is 91%.

Assets are $242MM with equity of $22MM.

The problem loan portfolio is $15MM.

This place has problems.

I am thinking it should be closed down.

Check out the website, the thing is useless.

It didn’t take these farmers long to run this place into the ground.

Community Bank of Pitkins County Jasper Georgia

July 23, 2011

 

Don’t worry, this savvy member of the FDIC has it figured out, your money is safe with him keeping an eye on it

Community Bank of Pitkins County Georgia was founded in 2000.   The company is on the problem bank list.  That might explain the Texas ratio of 135%.

Assets are $290MM with equity of $20MM.

Take a look, they have $33MM in problem loans.

I don’t know about you, but this place looks bankrupt.

This bank needs to shut down.

Not only do they make a lot of bad loans, they are adept at losing money.

Take a look at the website, they have some attractive vacant lots for sale.

One might ask, who in their right mind finances vacant lots?

Well, John Trammell the CEO appears to have an affinity for them.

This is they guy who ran this place into the ground.

Do you have money here, it is secured by vacant lots.

First Community Bank of the Southwest Fort Meyers Florida

July 23, 2011

Banking where no shoes are requried is the motto?

Robert Guenzel, he does banking with no brains required

First Community Bank of the Southwest Fort Meyers Florida was founded in 1999.  The company is on the problem bank list, sounds like they made some unwise commercial real estate loans.  The Texas ratio is 186%.

Hire this guy he is good with kids?

Assets are $335MM and equity is $14MM.

The problem loan portfolio is $33MM.

Do you think this place is bankrupt?

A bank in Florida that is bankrupt and not shut down, shocking.

Robert Guenzel is the CEO.

Not only is this guy good at making bad loans, he can also lose money.

Net income was ($5MM) in FY10 and ($11MM) in FY09.

Their motto is “banking where no shoes are required”.

How about “banking where no brains are required”.

Do you have money in this thing?

Peoples Bank & Trust Troy Missouri

July 23, 2011

This is one of the worst banks in the state

David Thompson is got this place on the problem bank list

This place has $39,000,000 in bad loans

Take your money out of this disaster

The FDIC is on top of this place,David Thompson is one savvy banker

Incompetent commercial lending?

Show me why you would keep money in this bankrupt disaster

If you get caught by the FDIC you are incompetent

Peoples Bank & Trust Troy Missouri was founded in 1924.  They are on the problem bank list for incompetent commercial real estate lending.  That might explain the Texas ratio of 74%.

Assets are $401MM with equity of $31MM.

The problem loan portfolio is $32MM.

The Peoples Bank is looking insolvent, it might soon become the governments bank.

Check out the website, go to our leaders, there are none.  There are no leaders? Somebody made $32MM in bad loans and ran the company into the ground.

Could that person have been Donald Thompson, the Chairman?

I would be in hiding also, if I bankrupted an 87 year old financial institution.

This bank may have made it through the depression but it might not survive Donald Thompson.

Do you have money in this bankrupt bank.

Would you bank with or trust this place?

Pinnacle Bank Orange City Florida These fat cats took $4,000,000 of your money to play golf? Take your money out of this place it is bankrupt! Proud member of the problem bank list David Bridgeman took $4,000,000 of your money, he won’t even pay interest on your money at least he gets paid to play golf The fat slob on the left isn’t worried about paying back the $4,000,000

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.

Pilot Bank Tampa Florida

July 23, 2011

 

 

Pilot Bank Tampa Florida was founded in 1987. They are on the problem bank list.

The assets are $233MM and equity is $21MM.

This thing is looking pretty insolvent.

Roy Hellwege, the CEO, ran this place into the ground.

How did he make all these bad loans, he must have been on auto Pilot.

Check out the website, they have an impressive list of abandon buildings and vacant land.

This is your Pilot, take all of your money out of this bank, prepare for a crash landing.

This place is going for a Hellwege

Bank of Versailles Versailles Missouri

July 23, 2011

This happens because Dave Baumgartner is a moron

Dave Baumgartner destroyed a 129 year old bank , racking up $44MM in bad loans

He got them on the problem bank list, this guy is a disaster

Bank of Versailles, Versailles Missouri was founded in 1882.  The company is on the problem bank list.  The Texas ratio is 107%.

Assets are $294MM and equity is $27MM.

The problem loan portfolio is $44MM.

This bank is beyond bankrupt.

How about closing this bank down.

This team is good at banking bad loans and losing money.

Net income was ($5.4MM) in FY10 and ($6.8MM) in FY09.

Dave Baumgartner is the CEO.

This bank survived the great depression but it can’t survive Dave Baumgarten.

He bankrupted a 129 year old bank.

Take a look at the website, they won’t tell you who the CEO is, but they have a ton of vacant land for sale.

Do you have money in this bankrupt entity?

Farmers Exchange Bank Louisville Alabama

July 23, 2011

These farmers got problems

Farmers Exchange Bank, Louisville Alabama was founded i 1958.  The company is on the problem bank list.  The Texas ratio is 128%.  This is the worst bank in the state.

This is the CEO, CFO and COO, You can’t trust Dr. Robert Bennett but you trust these savvy bankers

Assets are $196MM and equity is $11MM.

The problem loan portfolio is $18MM.

This bank is bankrupt.

How about closing this place down.

Dr. Robert Bennett is the President, his grandfather started the bank.

It looks like the good Dr. wiped out the family business.

Is this your bank?

It looks like the Farmers aren’t exchanging the money they got back to the bank.

United Fidelity Bank Evansville Indiana

July 23, 2011

You better trust in god if you have money in this disaster

Bellyup Bank

United Fidelity Bank, Evansville Indiana was founded n 1931.  The company is on the problem bank list.  The Texas ratio 68%.

Assets are $202MM with equity of $17MM.

The problem loan portfolio is $17MM.

Do you think this place is insolvent?

I think it’s time to close this place down.

The bank survived the great depression but can’t survive this management team.

Syringa Bank Boise Idaho

July 22, 2011

 

Might as well make Wavey the CEO, he can’t be any worse than Scott Gibson, that guy is a disaster

 

Syringa Bank, Boise Idaho was founded in 1997.  The company is on the problem list.  The Texas ratio is 92%.  The stock is delisted.

Assets are $223MM and equity is $13MM.

The problem loan portfolio is admirable.  The have $13MM in problem loans.

I guess that means the equity position is seriously compromised.

Why isn’t this place put out of it’s misery.

Not only does this bank make tons of bad loans, they lose a lot of money.

Net income was ($1.8MM) in FY10 and ($26MM) in FY09.  They lost another $536k in Q1 2011.

Get this, they lost another $2.8MM in Q2, they wiped out 25% of the equity in 3 months.  They equity position is down to $10.6MM.

Scott Gibson is the CEO.

Scott was able to wipe out the stockholders, rack up a boat load of bad loans and run this place into the ground, all at the same time.

Is this your bank”

This place could use a syringe, to take it out of it’s misery

MidSouth Bank Murfreesboro Tennessee

July 22, 2011

 

This disaster is on the problem bank list

Take your money out of this place ASAP

MidSouth Bank, Mufreesboro Tennessee was founded in 2004.  Great timing.  The company is on the problem bank list.

Assets are $231MM with equity of $24MM.

The problem loan portfolio is $13MM.

That could put a serious dent on the equity position.

This place is run by Lee Moss and Dallas Caudelle. These two ran this place into the ground in record time.

Is this your bank?

MidSouth?  This place has gone completely south, like Dallas.

Securant Bank & Trust Milwaukee Wisconsin

July 22, 2011


This place survived the Great Depression will it  survive David Davis?

It is looking insolvent

Securant Bank & ,Milwaukee Wisconsin was founded in 1919.  The company is on the problem bank list.  The Texas ratio is 62%.

Assets are $259MM with equity of $19MM.

The problem loan portfolio is $28MM.

This place is looking insolvent.

I am thinking ,this bank should be liquidated.

David Davis is the CEO.

This bank survived the great depression, can it survive David Davis?

First South Bank Spartanburg South Carolina

July 22, 2011

Barry Slider got this place on the problem bank list for hazadous commercal real estate lending

This disaster has $78MM in problem loans with $14MM in equity

Barry wiped out 86% of the remaining equity in Q3 2011

First South Bank Spartanburg South Carolina was founded in 1996.  It is on the the problem bank list for hazardous commercial real estate lending.  Maybe that is why the Texas ratio is 254%.  The stock is delisted.

Assets are $451MM and equity is $14MM.

The problem loan portfolio is $78MM.

Why isn’t this place closed down? It is clearly bankrupt.

They lost $7MM in Q2 2011.

This disaster lost another $11MM in Q3 2011

Barry Slider wiped out another 86% of the equity in the third quarter

There is $80MM in bad loans with $14MM in equity

This place is bankrupt

Take a look at the website, check out all the land they have for sale.

Who in their right mine finances vacant land?

Barry Slider is the CEO, apparently he does.  Although, he doesn’t seem to be very good at it.

Barry Slider has done an admirable job at wiping out the stock holders and running this place into the ground.

Why are they paying this guy?

Is this your bank? Bank with Barry.

First American State Bank Greenwood Village Colorado

July 22, 2011

 

Here is Jay Davidson, he is a proud member of the problem bank list, he is the CEO of one of the worst banks in Colorado

This clown bankrupted his own company, why is he smiling

Do you have money in the bankrupt disaster?

 

First American State Bank, Greenwood Village Colorado was founded in 1995.  The company is on the problem bank list.  Maybe because the Texas ratio is 85%, making it one of the worst banks in Colorado.

Assets are $214MM, with equity of $16MM.

The problem loan portfolio is $18MM.

It looks like this place is bankrupt.

When are they going to close this zombie down.

Jay Davidson is the CEO and founder.

He is the founder?

Why did he bankrupt his own bank?

They might want to change the name.

Is this your bank?

Take your money out of this disaster.

These clowns state that they have have more loan loss reserves than any time i their history?

You jokers have $3MM in loan loss reserves and $18MM in bad loans, what the hell does that mean?

Jay Davidson bankrupted this place in record time

Oregon Community Bank & Trust Oregon Wisconsin

July 22, 2011

Do you have money in this train wreck that is supposedly insured by the FDIC, I am thinking the are insolvent

Deposit no return?

Oregon Community Bank & Trust Oregon Wisconsin was founded in 1976.  The company is on the problem bank list.  The Texas ratio is 50%.

Assets are $184MM with equity of $23MM.

The problem loan portfolio is $9.5MM.

That is not a great position for your capital base.

This place has no earnings and a high level of problem loans, not a good combination.

This could get interesting.

Bank of Alameda Alameda California

July 22, 2011

 

Don’t worry these guys are keeping an eye on your money

 

Bank of Alameda, Alameda California was founded in 1999.  The company is on the problem bank list.

Assets are $253MM with equity of $27MM.

The problem loan portfolio is $12MM.

This could be a problem, having almost half of your equity exposed to your problem loans, is not good.

It will interesting to see if this place can survive.

The First National Bank of Eagle River Eagle River Wisconsin

July 22, 2011

 

Not sure why they are not closed, they are bankrupt

 

The First National Bank of Eagle River, Eagle River Wisconsin was founded in 1921.  The company is on the problem bank list.

Assets are $146MM and equity is $13MM.

The problem loan portfolio is $12MM.

That is not a great scenario, when the problem loans are equal to your equity.

Tom Ellis is the CEO.  It is looking like he’s got some problems.

This place could soon be getting washed down the eagle river.

Do you have money in this bankrupt bank?

Westside Bank University Place Washiington

July 21, 2011

How does $39MM in bad loans sound

Westside Bank, University Place Washington was founded in 1995.  This is the worst bank in Washington.  They are on the problem bank list.  The Texas ratio is 241%.

There are $141MM in assets and the remaining equity is $10MM.

The problem loan portfolio is admirable.  They have $39MM in problem loans.

This place is looking bankrupt, why are they still open?

Donald Dalton is the CEO, this guy has some problems.  Then again, he may have created these problems.

They should probably change the name to Wayside Bank.

Diamond Bank Schaumburg Illinois

July 21, 2011

Don’t panic, there is nothing wrong with a little hazardous commercial real estate lending

By the time those  clowns at FDIC figure it out, then it is the time to panic

Diamond Bank, Schaumburg Illinois is on the problem bank list, for hazardous commercial real estate lending.  The Texas ratio is 55%.

Assets are $254MM with equity of $20MM.

There are $15MM in problem loans.

This bank has a serious problem.

Net income was ($7.5MM) in FY10, they lost another $1.5MM in Q1 2011.

They are not going to earn their way out of this mess.

Do you have money here.

This place is definitely not a diamond.

MinnWest Bank Tracy Minnesota

July 21, 2011

They should hire this guy as the CEO, he is good with kids

MinnWest Bank, Tracy Minnesota was founded in 1941.  The company is on the problem bank list.  The Texas ratio is 81%.

Assets are $520MM and equity is $48MM.

The problem loan portfolio is $27MM.

The problem loans could put a serious strain on the equity position.

It will be interesting to see if they survive.

Bank of Fairfield Fairfied Washington

July 21, 2011

 

Might as well have bart run this disaster

 

Bank of Fairfield, Fairfield Washington was founded in 1908.  The company is on the problem bank.

Assets are $123MM and equity is $12MM.

The problem loan portfolio is $5.4MM.

This could be a put a significant dent in the equity base.

San Antonio National Bank San Antonio Texas

July 21, 2011

This sums up this bank

 

San Antonio National Bank, San Antonio Texas was founded in 1923.  The company is on the problem bank list.

Assets are $233MM with $27MM in equity.

The problem loan portfolio is $9MM.

That is probably not a great scenario.

It will be interesting to see if the CEO Guy Bodine, can pull the bank through this mess.

Though, I am thinking  that this guy is screwed.

First National Bank of the South Alma Georgia

July 21, 2011

This cat got them on the problem bank list

Check out all the junk real estate they are trying to sell, this place is SCREWED

Do you have money in this bankrupt entity?

Wonder why this guy is losing his hair?  He is sitting on $17,000,000 in junk loans

When the first thing you see on the site is the real estate for sale! They are f$$ked 

First National Bank of the South, Alma Georgia was founded in 1950.  The company is on the problem bank list.

Assets are $328MM with $35MM in equity.

The problem loan portfolio is $24MM.

This is not a great situation, the $24MM in bad loans, could easily eradicate a lot of the equity base.

Jack Johnson, the CEO, did a great job racking up bad real estate loans.

Take a look at the website, they have some fine properties for sale.

Jack has a knack for making bad loans.

How about changing the name to the First National Bank of the problem loan.

Santa Clara Valley Bank Santa Paula California

July 21, 2011

It didn’t take Michael Hause long to wipe this place out

Michael, reckless commercial real estate lending!

Maybe that is why you are the problem bank list

 

Santa Clara Valley Bank, Santa Paula California was founded in 1999.  The company is on the problem bank list for reckless commercial real estate lending.

Assets are $132MM and equity is $13MM.

The problem loan portfolio is $8MM.

Having $8MM in bad loans with only $13MM in equity is not a favorable situation.

I guess why they are on the problem bank list.

It looks like Michael Hause the CEO, is good at racking up bad commercial real estate loans.

Michael Hause just resigned, he should be in incarcerated.

Fidelity Bank of Florida Merritt Island Florida

July 21, 2011

Fidelity Bank of Florida, Merritt Island Florida was founded in 1997.  The company is on the problem bank list.  Does this place have problems.  The Texas ratio is 164%.

Assets are $375MM with equity of $14MM.

Get a load of the problem loan portfolio, it is incredible.  They have $79MM in problem loans.

Hold on, they have $79MM in problem loans with only $14MM in equity?

This thing is bankrupt.

This place need to be closed down.

Where the regulators? Even those clowns can see this thing is insolvent.

Not only is this place good at making bad loans, they are great at losing money.

Net income was ($3MM) in FY10 ($7MM) in FY09 and ($8MM) in FY08.  They lost another ($1MM) in Q1 2011.

Hold on, they lost another $1.9MM in Q2.

For some reason, they won’t tell you who the CEO is on the website.

If I wiped out 200% of the equity in 3 years, I would be in hiding also.

The only thing the website has is all the vacant land they have for sale, not a good sign.

Do you keep money in this bankrupt place?

Fidelity is one thing this place is not.

Border State Bank Greenbush Minnesota

July 21, 2011

 

 

 

Border State Bank Greenbush Minnesota was founded in 1935.  The company is on the problem bank list.  The Texas ratio is 65%.

Assets are $355MM with equity of $28MM.

The problem loan portfolio is $29MM.

This is not a good situation.

They are looking insolvent.

Check out the website, actually don’t bother it is useless.

Do you have money in this place? You better run for the border.

This place Borders on bankruptcy.

Metropolitan Bank New York New York

July 21, 2011

It didn’t take Mark Defazio long to bankrupt this place

They are on the problem bank list for weakness in capital and credit quality, not to mention excessive executive compensation

Check out their new product line Cash Zone, is this place a bank or a loan shark

Would you trust this guy with your money?

He has 3 chins, all bought and paid for with your money

Metropolitan Bank, New York New York was founded in 1999.  The company is on the problem bank list.  They were cited for weaknesses in capital, liquidity and credit quality.  They were also cited for having excessive executive compensation, imagine that.  The Texas ratio is 24%.

Assets are $588MM with equity of $71MM.

The problem loan portfolio is $34MM.

The problem loans could wipe out a significant portion of the asset base.

This place has problems.

Mark Defazio is the CEO, he has done an admirable job of racking up a ton of bad loans.

Not only is he making bad loans, he is taking excessive pay for it!

First Federal Bank Tuscaloosa Alabama

July 21, 2011

Do you have money in this disaster?

 

 

First Federal Bank Tuscaloosa Alabama was founded in 1950.  The company is on the problem bank list.  The Texas ratio is 49%.

Assets are $174MM with equity of $13MM.

The problem loan portfolio is $7MM.

This doesn’t bode well for the equity base.

This place has problems.

Take a look at the website it is a joke.

Westbound Bank Katy Texas

July 21, 2011

Westbound Bank, Katy Texas was founded in 2007. Wow, that was a savvy time to start a bank.  They are on the problem bank list. That didn’t take long. The Texas ratio is 64%.

Assets are $152MM and equity is $19MM.

The problem bank portfolio is $16MM.

Wow, this team wiped out the investors capital in record time.

They lost a $1.1MM in Q2 2011.  This place is slowly fading away.

The bank lost another $1MM in Q3 2011.

Robert Kramer is the CEO, he bankrupted this place fast.

Though this guy destroyed the shareholders equity and bankrupted the company however, I give him credit.  He published the consent order from the regulators on the website under the Presidents message.  That has got to be a first.

This place has $152MM in assets, one branch, a ton of bad loans and 20 workers, not a cost effective business model.

Their motto is “a new direction in banking”.  Bankrupting a bank in 3 years, is not a new direction, it’s happening  all over the country.

Is this your bank?

Westbound? How about Bankruptcy bound.

Farmers Bank Victor Montana Bankrupt

July 21, 2011

They might as well hire this guy as the CEO

This  place survived the Great Depression but it won’t survive Kay Clevidence

Charlie will get the regulators off you back

Farmers Bank Victor Montana was founded in 1907.  The company is on the problem bank list.  The Texas ratio is 45%.

Assets are $307MM and equity is $29MM.

The problem loan portfolio is $18MM.

This could erode a large portion on he equity base.

Kay Clevidence is the CEO.

It will be interested to see if this place survives.

First National Bank of Winnesboro Winnesboro Texas

July 21, 2011

This looks like Jan MIllers bankrupt bank

First National Bank of Winnesboro, Winnesboro Texas was founded in 1893.  The company is on the problem bank list, for negligent commercial real estate lending.  The Texas ratio is 56%.

Assets are $143MM and equity is $21MM.

The problem loan portfolio is $18MM.

Ouch, it is looking like this place is in trouble.

Jan Miller is the CEO.

Can Jan Miller take down a 116 year old bank?

New Millenium Bank New Brunswick New Jersey

July 20, 2011

This our credit commitee

Wonder why the Texas ratio is 125%?

Do you have money in this bankrupt disaster?

You better kick it down with the crystals

New Millenium Bank, New Brunswick New Jersey was founded in 1999.  The company is on the problem bank list.  The Texas ratio is 125%, making it the worst bank in the state.  The stock is delisted.

Assets are $221MM and equity is $13MM.

The problem loan portfolio is $24MM.

With $24MM bad loans and $13MM in equity, this place is bankrupt.

This mess should be closed down.

James Ateih is the CEO, he was able to wipe out 67% of the equity, in only 3 years.

Not only is he good at making bad loans, he is great a losing money.

The last annual report on the website is from FY08, that’s probably when the devastation began.

Their motto is ” a new age in banking services”.  Is wiping out a company in a decade a new age experience?

They were giving out loans using crystals, instead of financial statements.

Who was the Chief Credit Officer Shirley MacLaine?

Do you have your money in this new age disaster?

Millenium, these clowns are lucky they survived a decade.

SouthBank Huntsville Huntsville Alabama

July 20, 2011

 

SouthBank, Huntsville Alabama was founded in 1990.  The company is on the problem bank list.  The Texas ratio is 48%.

Assets are $255MM  and equity is $21MM.

The problem loan portfolio is $11MM.

This place is under stress.

Check out the website, don’t bother, the thing is a joke, it has zero information.

Bank of Atlanta Atlanta Georgia

July 20, 2011

 

Bank of Atlanta, Atlanta Georgia was founded in 1996.  The company is on the problem bank list.

Assets of $198MM and equity of $20MM.

The problem loan portfolio is $15MM.

This place is in rough shape.

Do you think it will survive?

First Community Bank Glascow Montana

July 20, 2011

How about this management team!

Have the goddesses run the place

First Community Bank, Glasgow Montana was founded in 1891.  They are on the problem bank list.

Assets are $216MM and equity of $19MM.

The problem loan portfolio is $13MM.

They won’t tell you who the CEO is.

I’ll tell you one thing, this bank survived the Great Depression, but it might not survive the current management team.

Pacific National Bank Miami Florida

July 20, 2011

This place could be  zombie!

Pacific National Bank Miami Florida was founded in 1985.  The company is on the problem bank list.

Assets are $348MM with equity of $42MM.

The problem loan portfolio is $15MM.

That is not bad for Florida.

I am still trying to figure out why a bank in Florida is called Pacific National Bank.

First State Bank Mesquite Texas

July 20, 2011

Take a look at the new site

capital2risk.com

This is Todd Price President

Todd ran this place into the ground

Todd is sitting on $22,000,000 in bad loans, with only $24,000,000 in equity

Todd runs one of the worst banks in Texas, Todd is wiping out a 50 year old bank

This sums up this disaster

First State Bank, Mesquite Texas was founded in 1962.  The company is on the problem bank list.  The Texas ratio is 75%.

Assets are $200MM with equity of $20MM.

The problem loan portfolio is $32MM.

Things aren’t looking good when you have more problem loans than equity.

Will this place survive?

City National Bank Newark New Jersey

July 20, 2011

Stick a fork in this pig

City National Bank Newark New Jersey was placed on the problem bank.  The Texas ratio is 119%.

Assets are $399M and equity is $30MM.

The problem loan portfolio is $77MM.

This place has a serious problems. They are looking pretty insolvent.

Take a look at the website, they haven’t posted their annual report since 2008.  That’s right, that is when the place started blowing up.

This place makes the streets of Newark look safe.

They lost another $2.2MM in Q2 2011

The Heritage Bank Hinesville Georgia

July 20, 2011


Here us the new site, much fasteer

capital2risk.com

This is James Floyd the CEO who bankrupted this place

This good ole boy likes to engage in hazardous commercial lending, sounds kinky

This guy looks like a swinger

James Floyd wiped out a 100 year old financial institution

How is that for  Heritage

Check out the mustache, this guy looks like a swinger

The Heritage Bank, Hinesville Georgia was founded in 1911.  The company is on the problem bank list, for hazardous commercial real estate lending.  The Texas ratio is 114%.

Assets are $933MM with equity of $43MM.

Take a look at the problem loan portfolio it is incredible, this place doesn’t play games when it comes to making bad loans.  The problem loan portfolio is $104MM!  They have $33MM in bad construction loans, that alone will wipe them out.

Some thing is wrong here, they have $104MM in bad loans and only $43MM in equity.  Maybe it is me, but this place is bankrupt.

Again, why isn’t this place closed down, probably because the FDIC is bankrupt.

James Floyd is the CEO.  This guy destroyed 105% of the equity in only 3 years.

He lost $40MM in FY10 alone, that takes a lot of effort.  He bankrupted a 100 year old bank in one year.

The bank survived the Great Depression, but it won’t survive James Floyd.

So much for a 100 year old Heritage.

Go into the bank and thank James Floyd for bankrupting this place.

Maybe James Floyd should be held accountable for destroying this bank.

Do you have money in this bankrupt institution?

Take your money out of this place before it goes bankrupt.

#2011-151
UNITED STATES OF AMERICA
DEPARTMENT OF THE TREASURY
COMPTROLLER OF THE CURRENCY
In the Matter of: ) Heritage First Bank ) Rome, Georgia )
CONSENT ORDER
The Comptroller of the Currency of the United States of America (“Comptroller”) has supervisory authority over Heritage First Bank, Rome, Georgia (“Bank”).
The Bank, by and through its duly elected and acting Board of Directors (“Board”), has executed a “Stipulation and Consent to the Issuance of a Consent Order,” dated October _20__, 2011, that is accepted by the Comptroller. By this Stipulation and Consent, which is incorporated by reference, the Bank has consented to the issuance of this Consent Order (“Order”) by the Comptroller.
Pursuant to the authority vested in it by the Federal Deposit Insurance Act, as amended, 12 U.S.C. § 1818, the Comptroller hereby orders that: ARTICLE I COMPLIANCE COMMITTEE
(1) Within thirty (30) days, the Board shall appoint a Compliance Committee of at least four (4) directors, of which no more than one (1) shall be an employee or controlling shareholder of the Bank or any of its affiliates (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1)), or a family member of any such person. Upon appointment, the names of the members of the Compliance Committee and, in the event of a change of the membership, the name of any new member shall be submitted in writing to the Assistant Deputy Comptroller.
The Compliance Committee shall be responsible for monitoring and coordinating the Bank’s compliance with the provisions of this Order.
(2) The Compliance Committee shall meet at least monthly.
(3)
Within forty-five (45) days, and every thirty days thereafter, the Compliance Committee shall submit a written progress report to the Board setting forth in detail:
(a)
a description of the action needed to achieve full compliance with each Article of this Order;
(b)
actions taken to comply with each Article of this Order; and
(c)
the results and status of those actions.
(4)
The Board shall forward a copy of the Compliance Committee’s reports, with any additional comments by the Board, to the Assistant Deputy Comptroller within thirty (30) days of each calendar quarter end.
ARTICLE II
CAPITAL PLAN AND HIGHER MINIMUMS
(1)
Effective immediately, the Bank shall maintain the following capital levels as defined in 12 C.F.R. Part 167:
(a)
Total risk-based capital at least equal to twelve and one-half percent (12.5%) of risk-weighted assets; and
(b)
Tier 1 capital at least equal to eight and one-half percent (8.5%) of adjusted total assets.1
1 Adjusted total assets is defined in 12 C.F.R. § 167.1.
– 2 –
(2)
The requirement in this Order to meet and maintain a specific capital level means that the Bank may not be deemed to be “well capitalized” for purposes of 12 U.S.C. § 1831o and 12 C.F.R. Part 165 pursuant to 12 C.F.R. § 165.4(b)(1)(iv).
(3)
Within sixty (60) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a three-year capital program. The program shall include:
(a)
specific plans for the maintenance of adequate capital that may in no event be less than the requirements of paragraph (1);
(b)
projections for growth and capital requirements based upon a detailed analysis of the Bank’s assets, liabilities, earnings, fixed assets, and off-balance sheet activities;
(c)
projections of the sources and timing of additional capital to meet the Bank’s current and future needs;
(d)
the primary source(s) from which the Bank will strengthen its capital structure to meet the Bank’s needs;
(e)
contingency plans that identify alternative methods should the primary source(s) under (d) above not be available; and
(f)
a capital distribution policy that permits the declaration of a capital distribution only:
(i)
when the Bank is in compliance with its approved capital program;
(ii)
when the Bank is in compliance with 12 C.F.R. Part 163, Subpart E
– Capital Distributions; and
(iii) with the prior written determination of no supervisory objection by the Assistant Deputy Comptroller.
– 3 –
(4)
Upon completion, the Bank’s capital program shall be submitted to the Assistant Deputy Comptroller for prior determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the capital program. The Board shall review and update the Bank’s capital program on an annual basis, or more frequently if necessary. Copies of the reviews and updates shall be submitted to the Assistant Deputy Comptroller.
(5)
The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.
(6)
If the OCC determines, in its sole judgment, that the Bank has failed to submit an acceptable capital program as required by paragraph (3) of this Article, or fails to implement or adhere to a capital program for which the OCC has taken no supervisory objection pursuant to paragraph (4) of this Article, then within thirty (30) days of receiving written notice from the OCC of such fact, the Bank shall develop and submit to the OCC for its review and prior determination of no supervisory objection a capital contingency plan, which shall detail the Board’s proposal to sell, merge or liquidate the Bank. After the OCC has advised the Bank that it does not take supervisory objection to the capital contingency plan, the Board shall immediately implement, and thereafter ensure adherence to, the terms of the contingency plan. Failure to submit a timely, acceptable contingency plan may be deemed a violation of this Order, in the exercise of the OCC’s sole discretion.
– 4 –
ARTICLE III
BUDGET/BUSINESS PLAN
(1)
Within sixty (60) days, the Board shall prepare, implement, and thereafter ensure Bank adherence to a written three-year business plan that shall include a projection of major balance sheet and income statement components. The business plan shall also include a written profit plan and a detailed budget. Specifically, the plan shall describe the Bank’s objectives for improving Bank earnings, including contemplated strategies and major capital expenditures required to achieve those objectives. Such strategies shall include specific market segments that the Bank intends to promote or develop. Procedures shall also be established to monitor the Bank’s actual results against these projections and to provide for appropriate adjustments to the budget and profit plan. The plan shall set forth specific time frames for the accomplishment of these objectives.
(2)
A copy of the plan shall be submitted to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the program.
(3)
The Board shall prepare, implement, and thereafter ensure Bank adherence to an updated written three-year business plan, reflecting current market conditions and strategies, each year that this Order remains in effect. The updated business plan shall be submitted on or before November 30 of each calendar year.
(4)
The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the plan developed pursuant to this Article.
– 5 –
ARTICLE IV
CRITICIZED ASSETS
(1)
The Bank shall take immediate and continuing action to protect its interest in those assets criticized in the Report of Examination, dated April 11, 2011 (“ROE”), in any subsequent Report of Examination, by internal or external loan review, or in any list provided to management by the OCC during any examination.
(2)
Within sixty (60) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written program designed to eliminate the basis of criticism of assets criticized in the ROE, in any subsequent Report of Examination, or by any internal or external loan review, or in any list provided to management by the OCC during any examination as “doubtful,” “substandard,” or “special mention.” This program shall include, at a minimum:
(a)
an identification of the expected sources of repayment;
(b)
the appraised value of supporting collateral and the position of the Bank’s lien on such collateral where applicable;
(c)
an analysis of current and satisfactory credit information, including cash flow analysis where loans are to be repaid from operations; and
(d)
the proposed action to eliminate the basis of criticism and the time frame for its accomplishment.
(3)
Upon adoption, a copy of the program for all criticized assets equal to or exceeding five hundred thousand dollars ($500,000) shall be forwarded to the Assistant Deputy Comptroller.
(4)
The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.
– 6 –
(5)
The Board, or a designated committee, shall conduct a review, on at least a quarterly basis, to determine:
(a)
the status of each criticized asset or criticized portion thereof that equals or exceeds five hundred thousand dollars ($500,000);
(b)
management’s adherence to the program adopted pursuant to this Article;
(c)
the status and effectiveness of the written program; and
(d)
the need to revise the program or take alternative action.
(6)
A copy of each review shall be forwarded to the Assistant Deputy Comptroller on a quarterly basis in a format similar to Appendix A, attached hereto.
(7)
The Bank may extend credit, directly or indirectly, including renewals, extensions or capitalization of accrued interest, to a borrower whose loans or other extensions of credit are criticized in the ROE, in any subsequent Report of Examination, in any internal or external loan review, or in any list provided to management by the OCC during any examination and whose aggregate loans or other extensions exceed five hundred thousand dollars ($500,000), only if each of the following conditions is met:
(a)
the Board or designated committee finds that the extension of additional credit is necessary to promote the best interests of the Bank and that prior to renewing, extending or capitalizing any additional credit, a majority of the full Board or designated committee approves the credit extension and records, in writing, why such extension is necessary to promote the best interests of the Bank; and
– 7 –
(b)
a comparison to the written program adopted pursuant to this Article shows that the Board’s formal plan to collect or strengthen the criticized asset will not be compromised.
(8)
A copy of the approval of the Board or of the designated committee shall be maintained in the file of the affected borrower.
ARTICLE V
LOAN PORTFOLIO MANAGEMENT
(1)
Within sixty (60) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written program to improve the Bank’s loan portfolio management. The program shall include, but not be limited to:
(a)
procedures to ensure satisfactory and perfected collateral documentation;
(b)
procedures to ensure that extensions of credit are granted, by renewal or otherwise, to any borrower only after obtaining and analyzing current and satisfactory credit information;
(c)
procedures to ensure conformance with loan approval requirements;
(d)
a system to track and analyze exceptions;
(e)
procedures to ensure conformance with Thrift Financial Report (“TFR”) or Call Report instructions, including procedures governing the supervision and control of nonaccrual loans;
(f)
procedures to ensure the accuracy of internal management information systems; and
(g)
procedures to ensure the timely collection or charge-off of late fees.
– 8 –
(2)
Upon completion, a copy of the program shall be forwarded to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Bank shall implement and adhere to the program.
(3)
Within sixty (60 ) days, the Board shall develop, implement, and thereafter ensure Bank adherence to systems which provide for effective monitoring of:
(a)
early problem loan identification to assure the timely identification and rating of loans and leases based on lending officer submissions;
(b)
previously charged-off assets and their recovery potential;
(c)
compliance with the Bank’s lending policies and laws, rules, and regulations pertaining to the Bank’s lending function; and
(d)
adequacy of credit and collateral documentation.
(4)
Within ninety (90) days, and quarterly thereafter, management will provide the Board with written reports including, at a minimum, the following information:
(a)
the identification, type, rating, and amount of problem loans and leases;
(b)
the identification and amount of delinquent loans and leases;
(c)
credit and collateral documentation exceptions;
(d)
the identification and status of credit-related violations of law, rule or regulation;
(e)
the identity of the loan officer who originated each loan reported in accordance with subparagraphs (a) through (d) of this Article and Paragraph;
– 9 –
(f)
the identification and amount of loans and leases to executive officers, directors, principal shareholders (and their related interests) of the Bank; and
(g)
the identification of loans and leases not in conformance with the Bank’s lending and leasing policies, and exceptions to the Bank’s lending and leasing policies.
(5)
The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program and systems developed pursuant to this Article.
ARTICLE VI
LOAN REVIEW CONSULTANT
(1)
Within ninety (90) days, the Board shall employ a qualified consultant to perform an ongoing asset quality review of the Bank. The consultant shall be utilized until such time as an ongoing internal asset quality review system is developed by the Board, implemented and demonstrated to be effective.
(2)
Prior to the appointment or employment of any individual to this loan review consultant or entering into any contract with a consultant, the Board shall submit the name and qualifications of the proposed consultant, the proposed terms of employment and the scope of the engagement to the Assistant Deputy Comptroller for a prior written determination of no supervisory objection.
(3)
Before terminating the consultant’s asset quality review services, the Board shall both certify the effectiveness of the internal asset quality review system, and receive prior written determination of no supervisory objection from the Assistant Deputy Comptroller.
– 10 –
(4)
The requirement to submit information and the provisions for prior written determination of no supervisory objection in this Article are based on the authority of 12 U.S.C. § 1818(b) and do not require the Comptroller or the Assistant Deputy Comptroller to complete his/her review and act on any such information or authority within ninety (90) days.
ARTICLE VII
CONCENTRATIONS OF CREDIT
(1)
Within sixty (60) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written asset diversification program consistent with OCC Banking Circular
255. The program shall include, but not necessarily be limited to, the following:
(a)
a review of the balance sheet to identify any concentrations of credit;
(b)
a written analysis of any concentration of credit identified above in order to identify and assess the inherent credit, liquidity, and interest rate risk;
(c)
policies and procedures to control and monitor concentrations of credit; and
(d)
an action plan approved by the Board to reduce the risk of any concentration deemed imprudent in the above analysis.
(2)
For purposes of this Article, a concentration of credit is as defined in the “Loan Portfolio Management” booklet of the Comptroller’s Handbook.
(3)
The Board shall ensure that future concentrations of credit are subjected to the analysis required by subparagraph (b) and that the analysis demonstrate that the concentration will not subject the Bank to undue credit or interest rate risk.
(4)
The Board shall forward a copy of any analysis performed on existing or potential concentrations of credit to the Assistant Deputy Comptroller immediately following the review.
– 11 –
(5)
The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.
ARTICLE VIII
ALLOWANCE FOR LOAN AND LEASE LOSSES
(1)
The Board shall review the adequacy of the Bank’s Allowance for Loan and Lease Losses (“Allowance”) and shall establish a program for the maintenance of an adequate Allowance. This review and program shall be designed in light of the comments on maintaining a proper Allowance found in the Interagency Policy Statement contained in OCC Bulletin 2006-47 (December 13, 2006) and the “Allowance for Loan and Lease Losses” booklet of the Comptroller’s Handbook, and shall incorporate the following:
(a)
internal risk ratings of loans;
(b)
results of the Bank’s internal loan review;
(c)
results of the Bank’s independent loan review;
(d)
criteria for determining which loans will be reviewed under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 310 Receivables (Pre-codification reference: Statement of Financial Accounting Standards (“FAS”) Statement No. 114), how impairment will be determined, and procedures to ensure that the analysis of loans complies with ASC 310 requirements;
(e)
criteria for determining loan pools under ASC 310 (Pre-codification reference: FAS Statement No. 5) and an analysis of those loan pools;
(f)
recognition of non-accrual loans in conformance with generally accepted accounting principles (“GAAP”) and TFR or Call Report instructions;
– 12 –
(g)
loan loss experience;
(h)
trends of delinquent and nonaccrual loans;
(i)
concentrations of credit in the Bank; and
(j)
present and prospective economic conditions.
(2)
The program shall provide for a review of the Allowance by the Board at least once each calendar quarter. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Thrift Financial Report or Call Report, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.
(3)
The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.
ARTICLE IX BOARD COMMITTEE STRUCTURE
(1)
Within forty-five (45) days, the Compliance Committee shall conduct a review of the Board’s committee structure. The review shall include an evaluation of the existing structure and shall include:
(a)
an analysis of the number of committees and responsibilities assigned to each;
(b)
the composition of each committee with regard to the number of members and the technical expertise required for each committee; and
(c)
specific recommendations to improve the efficiency and responsiveness of each committee.
– 13 –
(2)
Upon completion of the review, a copy of the report shall be forwarded to the Assistant Deputy Comptroller along with a copy of the Board resolution making appropriate adjustments in the committee structure.
ARTICLE X
APPOINTMENT OF NEW DIRECTORS
(1)
The Board shall promptly use reasonable efforts to add two (2) new independent directors. The term “independent director” means a person who is not an officer or employee of the Bank, or any related interest of any current director, officer, or employee, and who is not a relative of any current director, officer or employee.
(2)
Prior to appointing any new director, the Bank must provide the Assistant Deputy Comptroller with written notice as required by 12 C.F.R. § 163.
(3)
The Assistant Deputy Comptroller shall have the power of veto over the appointment of the proposed new director. However, the failure to exercise such veto power shall not constitute an approval or endorsement of the proposed director.
(4)
The requirement to submit information and the prior veto provisions of this Article are based on the authority of 12 U.S.C. § 1818(b) and do not require the Comptroller to complete his review and act on any such information or authority within ninety (90) days.
(5) If the Board is unable to identify any qualified director candidates within thirty
(30)
days of the date of this Order, the Board shall document its efforts to locate such candidates, and notify the Assistant Deputy Comptroller in writing. Thereafter, the Board shall provide quarterly reports to the Assistant Deputy Comptroller summarizing its continuing efforts to locate such candidates.
– 14 –
ARTICLE XI
MANAGEMENT AND BOARD SUPERVISION STUDY
(1)
Within thirty (30) days, the Board shall employ an independent outside management consultant.
(2)
Within one hundred twenty (120) days, the consultant shall complete a study of current management and Board supervision presently being provided to the Bank, the Bank’s management structure, and its staffing requirements in light of the Bank’s present condition. The findings and recommendations of the consultant shall be set forth in a written report to the Board. At a minimum, the report shall contain:
(a)
the identification of present and future management and staffing requirements of each area of the Bank;
(b)
an evaluation of each officer’s qualifications and abilities and a determination of whether each of these individuals possesses the experience and other qualifications required to perform present and anticipated duties of his/her officer position;
(c)
recommendations as to whether management or staffing changes should be made, including the need for additions to or deletions from the current management team;
(d)
objectives by which management’s effectiveness will be measured;
(e)
an assessment of the Board’s strengths and weaknesses along with a director education program designed to strengthen identified weaknesses;
(f)
an evaluation of the extent of responsibility of current management and the Board for present weaknesses in the Bank’s condition; and
– 15 –
(g)
recommendations to correct or eliminate any other deficiencies in the supervision or organizational structure of the Bank.
(3)
Within thirty (30) days of completion of this study, the Board shall develop, implement, and thereafter ensure Bank adherence to a written plan, with specific time frames, that will correct any deficiencies which are noted in the study.
(4)
The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the plan developed pursuant to this Article.
(5)
Copies of the Board’s written plan and the consultant’s study shall be forwarded to the Assistant Deputy Comptroller. The Assistant Deputy Comptroller shall retain the right to determine the adequacy of the report and its compliance with the terms of this Order. In the event the written plan, or any portion thereof, is not implemented, the Board shall immediately advise the Assistant Deputy Comptroller, in writing, of specific reasons for deviating from the plan.
ARTICLE XII
VIOLATIONS OF LAW
(1)
The Board shall immediately take all necessary steps to ensure that Bank management corrects each violation of law, rule or regulation cited in the ROE and in any subsequent Report of Examination. The quarterly progress reports required by this Order shall include the date and manner in which each correction has been effected during that reporting period.
(2)
Within thirty (30) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to specific procedures to prevent future violations as cited in the ROE and shall adopt, implement, and ensure Bank adherence to general procedures addressing compliance
– 16 –
management which incorporate internal control systems and education of employees regarding laws, rules and regulations applicable to their areas of responsibility.
(3)
Within thirty (30) days of receipt of any subsequent Report of Examination which cites violations of law, rule, or regulation, the Board shall adopt, implement, and thereafter ensure Bank adherence to specific procedures to prevent future violations as cited in the ROE and shall adopt, implement, and ensure Bank adherence to general procedures addressing compliance management which incorporate internal control systems and education of employees regarding laws, rules and regulations applicable to their areas of responsibility.
(4)
Upon adoption, a copy of these procedures shall be promptly forwarded to the Assistant Deputy Comptroller.
(5)
The Board shall ensure that the Bank has policies, processes, personnel, and control systems to ensure implementation of and adherence to the procedures developed pursuant to this Article.
ARTICLE XIII
CLOSING
(1)
Although the Board is by this Order required to submit certain proposed actions and programs for the review or prior written determination of no supervisory objection of the Assistant Deputy Comptroller, the Board has the ultimate responsibility for proper and sound management of the Bank.
(2)
It is expressly and clearly understood that if, at any time, the Comptroller deems it appropriate in fulfilling the responsibilities placed upon it by the several laws of the United States of America to undertake any action affecting the Bank, nothing in this Order shall in any way inhibit, estop, bar or otherwise prevent the Comptroller from so doing.
– 17 –
(3)
Any time limitations imposed by this Order shall begin to run from the effective date of this Order. Such time limitations may be extended in writing by the Assistant Deputy Comptroller for good cause upon written application by the Board.
(4)
The provisions of this Order are effective upon issuance of this Order by the Comptroller, through his authorized representative whose hand appears below, and shall remain effective and enforceable, except to the extent that, and until such time as, any provisions of this Order shall have been amended, suspended, waived, or terminated in writing by the Comptroller.
(5)
In each instance in this Order in which the Board is required to ensure adherence to, and undertake to perform certain obligations of the Bank, it is intended to mean that the Board shall:
(a)
authorize and adopt such actions on behalf of the Bank as may be necessary for the Bank to perform its obligations and undertakings under the terms of this Order;
(b)
require the timely reporting by Bank management of such actions directed by the Board to be taken under the terms of this Order;
(c)
follow-up on any non-compliance with such actions in a timely and appropriate manner; and
(d)
require corrective action be taken in a timely manner of any noncompliance with such actions.
(6)
This Order is intended to be, and shall be construed to be, a final order issued pursuant to 12 U.S.C. § 1818(b), and expressly does not form, and may not be construed to form, a contract binding on the Comptroller or the United States.
– 18 –
(7)
The terms of this Order, including this paragraph, are not subject to amendment or modification by any extraneous expression, prior agreements or prior arrangements between the parties, whether oral or written.
IT IS SO ORDERED, this __20th___ day of October, 2011.
/S/ Dian Brown Assistant Deputy Comptroller Atlanta Field Office – Ravinia
– 19 –
UNITED STATES OF AMERICA
DEPARTMENT OF THE TREASURY
COMPTROLLER OF THE CURRENCY
In the Matter of:
)
Heritage First Bank
)
Rome, Georgia
)
STIPULATION AND CONSENT TO THE ISSUANCE OF A CONSENT ORDER
The Comptroller of the Currency of the United States of America (“Comptroller”) intends to initiate cease and desist proceedings against Heritage First Bank, Rome, Georgia (“Bank”) pursuant to 12 U.S.C. § 1818(b) through the issuance of Notice of Charges for unsafe and unsound banking practices relating to credit risk and violations of law.
The Bank, in the interest of compliance and cooperation, consents to the issuance of a Consent Order, dated October__20__, 2011 (“Order”);
In consideration of the above premises, the Comptroller, through his authorized representative, and the Bank, through its duly elected and acting Board of Directors, hereby stipulate and agree to the following:
ARTICLE XIV Jurisdiction
(1)
The Bank is a “savings association” within the meaning of 12 U.S.C. § 1813(b) and 12 U.S.C. § 1462(4). Accordingly, the Bank is “an insured depository institution” as that term is defined in 12 U.S.C. § 1813(c).
(2)
Pursuant to 12 U.S.C. § 1813(q), the Director of the Office of Thrift Supervision (“OTS”) is the “appropriate Federal banking agency” with jurisdiction to maintain an administrative enforcement proceeding against a savings association.
(3)
Pursuant to Section 312 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, all powers, authorities, rights and duties relating to federal savings associations that were vested in the OTS and the Director of the OTS transferred to the OCC on July 21, 2011.
(4)
The Bank is subject to the authority of the OCC to initiate and maintain an administrative cease and desist proceeding against it pursuant to 12 U.S.C. § 1818(b). This Order shall cause the Bank to be designated as in “troubled condition,” as set forth in 12 C.F.R. § 163.555, unless otherwise informed in writing by the Comptroller.
ARTICLE XV
Agreement
(1)
The Bank, without admitting or denying any wrongdoing, hereby consents and agrees to the issuance of the Order by the Comptroller.
(2)
The Bank further agrees that said Order shall be deemed an “order issued with the consent of the depository institution” as defined in 12 U.S.C. § 1818(h)(2), and consents and agrees that said Order shall become effective upon its issuance and shall be fully enforceable by the Comptroller under the provisions of 12 U.S.C. § 1818(i). Notwithstanding the absence of mutuality of obligation, or of consideration, or of a contract, the Comptroller may enforce any of the commitments or obligations herein undertaken by the Bank under his supervisory powers, including 12 U.S.C. § 1818(i), and not as a matter of contract law. The Bank expressly acknowledges that neither the Bank nor the Comptroller has any intention to enter into a contract.
(3)
The Bank also expressly acknowledges that no officer or employee of the Comptroller has statutory or other authority to bind the United States, the U.S. Treasury Department, the Comptroller, or any other federal bank regulatory agency or entity, or any officer or employee of any of those entities to a contract affecting the Comptroller’s exercise of his supervisory responsibilities.
ARTICLE XVI
Waivers
(1) The Bank, by signing this Stipulation and Consent, hereby waives:
(a)
the issuance of a Notice of Charges pursuant to 12 U.S.C. § 1818(b);
(b)
any and all procedural rights available in connection with the issuance of the Order;
(c)
all rights to a hearing and a final agency decision pursuant to 12 U.S.C. § 1818(i), 12 C.F.R. Part 19;
(d)
all rights to seek any type of administrative or judicial review of the Order; and
(e)
any and all rights to challenge or contest the validity of the Order.
ARTICLE XVII
Other Action
(1) The Bank agrees that the provisions of this Stipulation and Consent shall not inhibit, estop, bar, or otherwise prevent the Comptroller from taking any other action affecting
the Bank if, at any time, it deems it appropriate to do so to fulfill the responsibilities placed upon it by the several laws of the United States of America.
IN TESTIMONY WHEREOF, the undersigned, authorized by the Comptroller as his representative, has hereunto set her hand on behalf of the Comptroller.
/S/ 10/20/2011 Dian Brown Date Assistant Deputy Comptroller Atlanta Field Office – Ravinia
IN TESTIMONY WHEREOF, the undersigned, as the duly elected and acting Board of Directors of the Bank, have hereunto set their hands on behalf of the Bank.
/S/re Ggory C. Wilkes
10/20/2011 Date
/S/ Ryan Earnest
10/20/2011 Date
/S/ Helmet H. Cawthon
10/20/2011 Date
/S/ Wade C. Hoyt, III
10/20/2011 Date
/S/ Randal A. Land
10/20/2011 Date
/S/ Kimberly G. Mauer
10/20/2011 Date
/S/ Thad W. Watters
10/20/2011 Date

Don’t forget the FDIC is bankrupt.

MetaBank Storm Lake Iowa

July 20, 2011

Take a look at the new site

capital2risk.com

http://www.facebook.com/pages/MetaBank/111169168935083

This Jim Haar, he is on the problem bank list for unfair an DECEPTIVE practices

Jim makes $528,000 including his country club membership

Jim is sitting on $20,000,000 in bad loans


Take a look at Jim Haahr he engages in unfair and deceptive practices

Hold on, he gets paid $528k, including a country club membership and a car allowance

That is good money in Iowa for having a cease and desist order from the Fed’s

MetaBank, Storm Lake Iowa is on the problem bank list, after receiving a cease and desist order.  They were cited for engaging in unfair or deceptive practices.

Assets are $1.8B with equity of $80MM

The problem loan portfolio is $20MM.

Here is Brad Hanson he makes $619,000 a year

They might be on the problem bank list, but the executives pay themselves well.

J. Tyler Haahr           made $702k

James Haahr              made $542k

Bradley Hansen       made   $619k

This includes country club expenses and company cars.

The Haarh’s have done an admirable job of running this place into the ground.

Is this your bank?

This place can’t lend anymore.

Plaza Bank Norridge Illinois

July 20, 2011

 


This could be John Hunt doing a little hazardous commercial lending

This place is bankrupt

 

Plaza Bank, Norridge Illinois was founded in 1954.  The company is on the problem bank list, for hazardous commercial real estate lending.  The Texas ratio is 75%, not good.

Assets are $383MM with equity of $34MM.

The problem loan portfolio is $31MM.

Having $34MM in equity and $31MM in problem loans, this place is looking insolvent.

John Hunt is CEO, he has down a good job of racking up tons of problem loans and running a 50 year old bank into the ground.

Park Federal Savings Bank Chicago Illinois

July 20, 2011

Park Federal Savings Bank, Chicago Illinois is on the problem bank list for hazardous commercial real estate lending.  The Texas ratio is 66%.  The stock is delisted.

Assets are $207MM, with equity of $16MM.

The problem loan portfolio is $12MM.

This bank is technically insolvent.

Net income was ($5MM) in FY10, ($4MM) in FY09 and ($2MM) in FY08

Take a look at the website under the news section, there hasn’t been any news posted since FY09.  The last posted news was that the stock was delisted, always a good sign.

Here is some news, you are insolvent.

The executives may have bankrupted this place, but at least they paid themselves well to do it.

David Remijas       made  $246k

Richard Remijas   made $227k

Victor Caputo        made $138k

Paul Lopez               made $118k

That is good pay for wiping out the shareholders.

The Remijas family, also wiped out 54% of the equity in only 3 years.

Do you have your money have your money parked in this disaster?

Liberty Bank Twinsburg Ohio

July 20, 2011

Here is the new web site

capital2risk.com

This is William Valarian CEO

William is on the problem bank list

William is sitting on $13,000,000 in junk loans and only $22,000,000 in equity

Do you have William watching your money, that is scary, this clown is screwed

How is the capital raising going?

Who in their right mind would invest in this abortion?

Then again, who would keep their money in the disaster!

Liberty Bank, Twinsburg Ohio was founded in 1990.  The company is on the problem bank list.  The Texas ratio is 32%.

Here us the rest of the team, that is wiping this place out

Assets are $227MM with equity of $20MM.

The problem loan portfolio is $10MM.

The problem loans could wipe out  a good part of the remaining equity.

William Valerian is the CEO.

Take a look at his letter to the shareholders.  It is comical.  They were supposed to raise capital by 6/30.  They claim to have a letter of intent for $10MM from an in investor, but no details are provided. It is pretty obvious, they don’t have a deal.

William Valerain wiped out the existing shareholders, if he had a deal he would have put it on the table.

For some reason , they won’t put the financial statements on the website.  I guess they are not at liberty to tell.

Do you have money in this bankrupt entity?

First National Bank of Crestview Crestview Florida

July 20, 2011

Check out the CEO

First National Bank of Crestview, Crestview Florida was founded in 1956.  The company is on the problem bank list. I guess a Texas ratio of 247% will get you on the list.

Assets are $124MM with equity of $6MM.

Take a look at the problem loan portfolio.  There are $33MM in problem loans.

Wow, having $33MM in bad loans with $6MM in equity,  that could be a problem.

This place is bankrupt.

Why isn’t this dissolute thing closed?

Dale Rice is the CEO.

He wiped out 183% of the capital in only 3 years, this guy is good.  Not to mention racking up $33MM in bad loans and bankrupting the company.

Dale + bad loans are like white on rice.

Do you have money in this debacle?

Signature Bank Bad Axe Michigan

July 20, 2011

Signature Bank,  Bad Axe Michigan was founded in 1894.  It is on the problem bank list, with a Texas ratio of 46%.

Assets are $246MM, with equity of $20MM.

The problem loan portfolio is $14.4MM.

This is not a great situation, having $14.4MM in bad loans with only $20MM in equity is a problem.

That is one Bad Axe problem loan portfolio.

Richard Thomas is the CEO.

Richard is one Bad Axe CEO

This bank survived the Great Depression, but can it survive Richard Thomas?

Do you have money is the signature institution?

Premier Community Bank of the Emerald Coast Crestview Florida

July 20, 2011

Premier Community Bank of the Emerald Coast, Crestiew Florida was founded in 2006. That was great timing. They are on the problem bank list for hazardous commercial real estate lending.  The Texas ratio is 145%.

This is probably the worst bank in the country,based on capitalization.

These clowns lost $4MM in Q3 2011 wiping out all the equity.

Assets are $152MM, with equity of ($1MM).

This place is bankrupt.

The problem loan portfolio is impressive.  They have $23MM in bad loans, now that is a premium portfolio!

This place is beyond bankrupt.

Do you think may this disaster should be shut down?

J. Michael Woody is the Chairman

James M “Johnny” Johnson Vice Chairman, can’t make this up.

These are 2 savvy bankers, they ran this place into the ground in record time.

They wiped out 100% of the equity in 3 years, that is impressive.

They picked a great name for this bankrupted entity.

Woody is an expert at racking up a ton of junk loans.

I am sure “Johnny” Johnson was not far behind.

This place is phallic.

The one thing that is premier is the problem loan portfolio.

Is this your bank?

I guess you don’t put a premium on your money

Premium Bank Dubuque Iowa

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.

First Intercontinental Bank Doraville Georgia

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.

First National Bank of Wyoming Wyoming Pennsylvania

July 19, 2011

A capital base envied by all?

“Strength and stability” doesn’t get you on the problem bank list

 

First National Bank of Wyoming, Wyoming Pennsylvania was founded in 1909.  The company is on the problem bank list.

They were designated by the regulators as being in “troubled condition”.   That doesn’t sound good.

Take a look at the website, there motto is “strength and stability” with a “capital base envied by all”?.

So they are in troubled condition, but their capital base is envied by all!

The Texas ratio is 66%, making it the worst bank in the state.

Assets are $285MM with equity of $43MM.

The problem loan portfolio is $53MM.

So, they have $53MM in problem loans with $43MM in equity, do you still envy their capital base.

This place is bankrupt, why aren’t they shut down.

Joseph Chippe is the CEO.

This bank survived the Great Depression but it won’t survive Joseph Chippee.

Heartland Bank Sebring Florida

July 19, 2011

I don’t want to talk about my mistress

Want to buy some vacant swamp land?

Heartland Bank Sebring Florida was founded in 1999.  The company is on the problem bank list.  The Texas ratio is 49%, which isn’t bad for Florida.

Assets are $288MM and equity is $24MM.

The problem loan portfolio is $19MM.

Wow, $19MM in problem loans and only $24MM in equity, that is one troubling situation.

This bank looks bankrupt.

Take a look at how much vacant land they have for sale.

Who in their right mind finances vacant land?

Apparently, James Clinard the CEO does.

They also have an attractive array of vacant houses for sale.

Is this a real estate company or a bank?

Atlantic Bank Brunswick Georgia

July 19, 2011

Street fight Wall Street versus Main Street

This place is bankrupt

Atlantic Bank Brunswick Georgia, was founded in 1998.  They are on the problem bank list for hazardous commercial real estate lending.  The Texas ratio is 54%.

Assets are $180MM with equity of $12MM.

The problem loan portfolio is $14MM.

With $14MM in problem loans and $12MM in equity, this place looks bankrupt.

Why is bank still open?

John Rogers the CEO, did a fine job of racking up bad loans for this place.

Frontier State Bank Oklahoma City Oklahoma

July 19, 2011

The problem bank  list?

 

 

Frontier Bank Oklahoma City Oklahoma was founded in 1975.  The company is on the problem bank list for unsafe and unsound lending practices.

Assets are $517MM and equity is $53MM.

The problem loan portfolio is $30MM.

The $30MM in problem assets could put a serious dent on the equity position.

This place is not in great shape.

The bank is on the frontier of self destruction

Ocean Bank Miami Florida

July 19, 2011

Take a look at the new site

capital2risk.com

Would you trust this person?

This is Alfonso, bankrupted this place

Why is this clown smiling? Weakness in management, that might be you Alfonso

Ocean Bank Miami Florida, was founded in 1982.  This place is a complete disaster.  They are on the problem bank list for weakness in management, asset quality, capital, liquidity and earnings.  The Texas ratio is 100%.

Weakness in management? How does incompetent sound.

Assets are $3.5B with $115MM in equity.

Take a look at the problem loan portfolio, it is staggering.  They have $562MM in problem loans.  There are $121MM in past due construction loans, that alone will bankrupt this place.

With $562MM in bad loans and $150MM in equity, this place is bankrupt.

Why is this zombie bank not closed down?

What are the regulators thinking about?

This bank is a Ponzi scheme, that the government allows to continue.

Net income was ($116MM) in FY10 and ($96MM) in FY09.  They lost another $24MM in Q2 2011, that should keep them on track to lose another $100MM this year.

They lost another $24MM in Q1 2011. This place should be bankrupt by year end.

Check out the website, they have 100’s of acres of vacant land for sale.  Who in their right mind finances vacant land?

The CEO is Alfonso Macedo, apparently he likes to finance vacant land.

This cat wiped out 98% of the equity in 3 years.

Alfonso, you turned this bank into an unmitigated disaster.

Alfonso, you have $562MM in problem loans, you are one savvy banker.

Didn’t the regulators say, they have weakness in management, shocking.

Alfonso, what are you going to do with all that vacant land?

Is this a bank or a REIT?

They were ordered by the regulators to raise $100MM.

Alfonso, loses a $100MM a year, sounds like a great investment.

How is the capital raising going?

Even Bernie Madoff wouldn’t get involved with this bankrupt entity.

Do you have money in this place.

Don’t forget the FDIC is also bankrupt.  Take your cash out of this disaster.

You might want to jump in the ocean, this bank is a ship wreck.

skip to main content

Home
Personal Banking Commercial Banking About Ocean Bank Contact Ocean Bank
     Thursday, February 09, 2012
Vacant and Partially Improved Land for saleOffers are welcome. All properties are sold in “as-is” condition.
This offering is subject to errors, omissions and changes without notice.Updated 2.4.12
Printable PDF >
This is a table that lists Vacant and Partially Improved Land for sale. County Location Size / Type Zoning & Remarks Price Contact
BrowardView More
Info/Photos
Contract PendingNW corner of W. Pembroke Rd. and S. Hiatus Rd., Pembroke Pines, FLLocated within Village of Mayfair development

Folio #:
Parcel 1:
5140-24-02-0063
Parcel 2:
5140-24-02-0062

4.8 acresParcel 1:
155,879 sq. ft.
– frontage on Pembroke Rd.Parcel 2:
53,318 sq. ft.
– frontage on
Hiatus Rd.

Improved
Land with entitlements for 75,050 sq. ft.
Mixed-Use project

B-2 Community Business DistrictLocated on a high traffic corner amongst several apartment housing developmentsThe planned lakefront professional
and medical office center includes
5 detached, 2-story buildings,
15,000
sq. ft. each

The opportunity is located within the Village of Mayfair development,
a 10 acre area planned for a total
of 105,620 sq. ft. of retail and
office space

Highest and Best Offer Clinton Casey
Colliers International
954-233-6075
clinton.casey@colliers.comDavid Metalonis
Colliers International
305-447-7866
david.metalonis@colliers.com
BrowardView More
Info/Photos
Sold2101 NE 36th St.
Lighthouse Point, FL 33064
1 acreFormer gas station plus land Built in 1970B-2A Special Business DistrictGreat office site or retail site $840,000 Mark Meyer
954-712-9365 markmeyer@keyes.comMichael Gagne
954-712-9377
michael@mgagne.com
Broward
View More
Info/Photos
Contract PendingNE corner of S. 22nd Ave. and Van Buren St.
Hollywood, FL 33020
1.68 acresVacant The property is the undeveloped Phase III of a planned development with 602 residential units consisting of townhomes, lofts and condominiumsZoned PD (Planned Development District) for 252 Residential Units
in 14 stories. Also allows for all residential uses, office and
resort usesAbove street grade

Located in the heart of
Hollywood, Florida

Within walking distance to shops, restaurants and the Arts Park on
Young Circle, the site offers an
investor the opportunity to capture
a well located parcel of land in and
urban infill location

175 frontage feet along Van Buren St. and 296 feet along 22nd Ave.

Direct access from Hollywood Blvd.; 1/2 Block from S. Dixie Hwy.; 1 mile from I-95; 2.21 miles to A1A; 3.73 miles from Florida Turnpike

$2.5
million
Elizabeth McHugh
Ocean Bank
305-569-5146
emchugh@oceanbank.com
CharlotteView More
Info/Photos
Aqui Esta Dr.
Punta Gorda, FL 33950
105.73 acresVacant Waterfront acres (64 developable), within a mile of frontage on canals, offering unobstructed access to Charlotte Harbour and the Gulf
of MexicoSingle family (5 to the acre)
$4.6
million
Elizabeth McHugh
Ocean Bank
305-569-5146
emchugh@oceanbank.com
CollierView More
Info/Photos
A) 946 Henderson
Creek Dr.
Naples, FL 34114B) 952 Henderson
Creek Dr.
Naples, FL 34114
A) 3.23 acresB) 3.06 acresVacant A) & B) Zones MH – mobile home development site $451,000 Elizabeth McHugh
Ocean Bank
305-569-5146
emchugh@oceanbank.com
Indian RiverView More
Info/Photos
900 Louisiana Ave.
Sebastian City, FL 32958
8.01 acresVacant Undeveloped land zoned for
multi-family developmentSebastian Landing, under the jurisdiction of Sebastian, FL
$300,000 Linda Schlitt-Gonzalez
Coldwell Banker,
Ed Schlitt Realtors
772-559-7367
Linda.Gonzalez@
Coldwellbanker.com
Indian RiverView More
Info/Photos
NW quadrant of State Road 60 and 90th Ave.
Vero Beach, FL 32966
60.44 acresVacant Partially zoned commercial along SR 60, with multi-family in the northern portion of siteLocated at key interchange of I-95 with great access and visibilityNear major outlet shopping mall and commercial areas in Vero Beach, FL $2.5
million
George Gonzalez
Ocean Bank
305-569-8036
gegonzalez@oceanbank.com
LeeView More
Info/Photos
OHC Magnolia
3811 Schoolhouse Rd. East Fort Myers, FL 33916
16.4 +/- acresVacant C-1 (Commercial Intensive)Permitted uses under zoning class are multi-family, residential of 25 or less units per acre, professional office, hotels, motels, retail stores, shops and service stations $2.1
million
Elizabeth McHugh
Ocean Bank
305-569-5146
emchugh@oceanbank.com
Miami-DadeView More
Info/Photos
Located between SW 192nd Ave. and SW 197th Ave. AND SW 338th St. and SW 344th St. in Unincorporated Miami-Dade County, FL 33034 83.83 acresVacantUnimproved Short term agricultural leases
in placeApproximately 50.1 acres zoned
EU-M (Estate Modified District)Approximately 33.82 acres zoned AU (Agricultural District)

According to the Miami-Dade County Future Land Use Map, the allowable development density may be up to 407 residential units on the property

$4.65 million Joseph Moussa
Ocean Bank
305 569-8073
jmoussa@oceanbank.com
Miami-DadeView More
Info/Photos
SoldBanyan Corporate Center at the Pan American Business ParkNW 109th Ct. &
NW 123rd St.
Medley, FL 33178

Folio #:
22-2030-016-0050

8.8 acresIndustrial Land Zoned: M-1 Light IndustrialMax Bldg. Height: 16 feet; Max Lot Coverage: 60% or 229,997 sq. ft.Located in the a prime industrial zone, the Banyan Corporate Center is well situated to provide buyers and tenants access to all of South Florida’s roadways, railways and ports of call

Direct access to Okeechobee Rd.

Direct rail access along the North boundary line

1.2 Miles to Florida 821 Toll Rd.; 2.8 Miles to I-75; 6 Miles to Opa Locka Airport; 9 Miles to Miami International Airport; 12 Miles to I-95 and Florida Turnpike; 16 Miles to Port of Miami

Highest and Best Offer Scott Sime
Sime Realty Corporation
786-344-2603
sime@sime2.com
Miami-DadeView More
Info/Photos
11825 SW 216 St.
Miami, FL 33177
2.5 acres
(108,900 sq. ft.)Rectangular Shape (+/-182 by +/-596)Vacant (Leveled to grade)
Zoned GCUC
(Goulds Community
Urban Center District)Located in both MM (Mixed Use Main Street) and MO (Mixed Use optional) of the land use plan
$349,000 Jorge A. Ramirez
Coldwell Banker
Commercial NRT
786-337-3666 cell
305-667-5531 fax
jorge.ramirez@
cbcworldwide.com
Miami-DadeView More
Info/Photos
2215 NW 14th St.
Miami, FL 33125Folio #:
01-3134-000-0160
4.4 acresIndustrial
Marina Site
Zoning: City of Miami SD-4, Marine Industrial, Miami 21 Transect Zone
T6-8 Open1.23 acres submerged; 3.17 acres upland; 325 frontage feet on the
Miami RiverProperty configuration is ideal for
mega yacht marina or ship yard

Former shipping terminal

Improvements: Three story office building and a one story warehouse located on the rear of the property close to the river

Located on the Miami River, directly to the west of the NW 22nd Avenue bridge; easy access to the property situated on the NW corner of NW 14th St. and NW 22nd Ave.; .52 miles from Dolphin Expressway (836); 3.6 miles from I-95

$4.9
million
Elizabeth McHugh
Ocean Bank
305-569-5146
emchugh@oceanbank.com
Miami-DadeView More
Info/Photos
821 SW 67th Ave.
Miami, FL 33134
0.48 acresVacant Across from major grocery centerHigh traffic corridor near 8th Street intersectionZoned for Commercial use $799,000 David Metalonis
Colliers International
305-447-7866
david.metalonis@colliers.com
Miami-DadeView More
Info/Photos
Contract PendingLa Veradita
216 SW 12th Ave.
Miami, FL 33135
0.48 acresVacant SD-14 overlay – Latin Quarter – Commercial / Residential District
by the City of MiamiZoned for single family, two story family, multi-family, hotels, motels, office, retail, medical or dental office, financial institution and educational facilities
$699,900 Mario Fernandez
National Properties Realty
305-444-1144 Nationalpropertiesrealty
@yahoo.com
Miami-DadeView More
Info/Photos
SE Corner of SW 197 Ave. and SW 296 St.
Miami, FL 33030
18.44 acresVacant EU-1 ‘Single FamilyOne-Acre Estates’ $1
million
Joseph Moussa
Ocean Bank
305 569-8073
jmoussa@oceanbank.com
Miami-DadeView More
Info/Photos
SE Corner of SW 197 Ave. and SW 312 St.
Miami, FL 33030
19.47 acresVacant EU-1 ‘Single FamilyOne-Acre Estates’ $1.05
million
Joseph Moussa
Ocean Bank
305 569-8073
jmoussa@oceanbank.com
Miami-DadeView More
Info/Photos
West of SW 187th Ave.
and SW 338 St.
Florida City, FL 33034
10 acresVacant Zoning 9000 Agricultural $2.2
million
Joseph Moussa
Ocean Bank
305 569-8073
jmoussa@oceanbank.com
Miami-DadeView More
Info/Photos
1550 NW 79 St.
Miami, FL 33147
14,700 sq. ft.Partially Improved BU-2 Special BusinessTwo bay automobile service garage
with approximately 1,592 sq. ft. of
gross building area
$199,000 David Metalonis
Colliers International
305-447-7866
david.metalonis@colliers.com
MonroeView More
Info/Photos
320 Windley Rd.
Key Largo, FL
6,000 sq. ft.
Vacant
Dock TBD Robin Mitchell
Compass Realty
305-797-9099
robinmitchellkw@comcast.net
OsceolaView More
Info/Photos
7414 Excitement Dr.
Reunion, FL 34747
4.07 acresVacant 8 building pads approved for 74 condominium/residential unitsPart of the luxury Reunion resort developmentWithin a 199-unit condominium site $890,000 Elizabeth McHugh
Ocean Bank
305-569-5146
emchugh@oceanbank.com
Palm BeachView More
Info/Photos
SoldPalm Beach County
Waterfront Site
106 & 122 North Lake Dr. Lantana, FL 33462
1.02 acresVacant R15 – Residential
– Up to 15 units per acreDirectly on the water,
development site
$1.35
million
David Metalonis
Colliers International
305-447-7866
david.metalonis@colliers.comMichael Fay
Colliers International
305-446-0011
michael.fay@colliers.com
Palm BeachView More
Info/Photos
300 Palm Beach
Lakes Blvd.
West Palm Beach, FL 33410
1.52 acresVacant Partially developed multi-family
mid-rise buildingVacant shell near the waterfront
$1.8
million
Elizabeth McHugh
Ocean Bank
305-569-5146
emchugh@oceanbank.com
St. LucieView More
Info/Photos
Sold6200 Johnston Road
Unincorporated
St. Lucie County, FL
5.88 Acres of
Vacant Land with a 1,836 sq. ft. Single Family Home
Zoned Ag-1, AgriculturalResidential density of one residential unit per acre $80,000 George Gonzalez
Ocean Bank
305-569-8036
gegonzalez@oceanbank.com
St. Lucie
View More
Info/Photos
Northwest side of Glades Cutoff Rd. and East of Carlton Rd. in Unincorporated
St. Lucie County, FL
299.87 AcresVacant Zoned Ag-5, AgriculturalResidential density of one unit
per 5 acres
$1.05 million George Gonzalez
Ocean Bank
305-569-8036
gegonzalez@oceanbank.com
St. Lucie East Side of Carlton Rd. and North of Glades Cutoff Rd. in Unincorporated
St. Lucie County, FL
79.55 AcresVacant Zoned Ag-5, AgriculturalResidential density of one unit
per 5 acres
$318,000 George Gonzalez
Ocean Bank
305-569-8036
gegonzalez@oceanbank.com
St. Lucie
View More
Info/Photos
SoldWest side of Johnston Rd. North of Indrio Rd. and South of Russos Rd.Unincorporated
St. Lucie County, FL
78 AcresVacant Zoned Ag-1, AgriculturalResidential density of one residential unit per acre $590,000 George Gonzalez
Ocean Bank
305-569-8036
gegonzalez@oceanbank.com
St. LucieView More
Info/Photos
West side of Johnston Rd. North of Russos Rd. and South of SW 25th St.Unincorporated
St. Lucie County, FL
79 AcresVacant Zoned Ag-1, AgriculturalResidential density of one residential unit per acre $590,000 George Gonzalez
Ocean Bank
305-569-8036
gegonzalez@oceanbank.com
St. LucieView More
Info/Photos
West side of
1100 Carlton Rd.
Port St. Lucie, FL 34987
84 acres of
Raw LandVacant
Former citrus grove site zoned for residential development of
1 residential unit per 5 acres
$252,000 George Gonzalez
Ocean Bank
305-569-8036
gegonzalez@oceanbank.com
St. LucieView More
Info/Photos
NW quadrant of Indrio Rd. and Johnston Rd., Port St. Lucie, FL 34951(Just east of I-95 Interchange) 597 acresVacant Large development site in
Port St. Lucie, FLFuture residential land
development site
$4.3
million
George Gonzalez
Ocean Bank
305-569-8036
gegonzalez@oceanbank.com
St. LucieView More
Info/Photos
Mayfair at Lawnwood
North side of Nebraska Avenue in Fort Pierce,
FL 34950
15.87 acresPartially Improved Brand new, vacant 10 unit,
2 story multi-family dwellingSite has approvals in place for 220 units (13.86 units per acre density)Adjacent to Lawnwood Medical Center – major hospital
$3.2
million
Elizabeth McHugh
Ocean Bank
305-569-5146
emchugh@oceanbank.com
Equal Housing Lender. Member FDIC. Privacy Statement | Disclosures   © 2012 Ocean Bank. Equal Opportunity Affirmative Action Employer.

American Bank of the North Nashwauck Minnesota

July 19, 2011

 

 

 

American Bank of the North, Nashwauck Minnesota was founded in 1920.  The company is on the problem bank list, it appears as if they were doing some hazardous commercial real estate lending.  The Texas ratio is 79%.

Assets are $644MM and equity of $49MM.

The problem loan portfolio is $48MM. The problem loan portfolio appears to be rapidly increasing.

Having $48MM in problem loans and $49MM in equity is not a promising scenario.

The problem loan portfolio could cause havoc on the equity base.

Patriot Bank Houston Texas

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

The Washington Savings Bank Bowie Maryland

July 18, 2011

This is Phillip Bowman he ran this place into the ground

Phillip gets paid $295,000 to bankrupt this place

This place is history

The Washington Savings Bank, Bowie Maryland was founded in 1982.  The company is on  the problem bank list.  The Texas ratio is 42%.

Assets are $407MM and equity is $49MM.

The problem loan portfolio is $26MM.

The problem loans could wipe out a significant amount of the equity base.

Despite racking up a huge level of problem loans, the executives paid themselves well.

Philip Bowman   made  $295k

Kevin Hoffman   made $187k

Susan Grant         made $189k

That is pretty good pay for making all these bad loans.

The Coastal Bank Savannah Georgia

July 18, 2011

This is  J Thomas Wiley Jr., the CEO, there are two of these jokers?

J. Thomas bankrupted this disaster

J. Thomas got this place on the problem bank list

charges of unsafe or unsound banking practices or violations of law or

to weaknesses in asset quality, management, earnings, capital, liquidity

J Thomas, do you think there is a weakness in management?

This is Jim Lahaise Chief Banking Officer

Jim is sitting on $57,000,000 in bad loans

Jim got this place on the problem bank list

  Jim likes to finance vacant land


This is Adam Montgomery, Director of Marketing

Why is this clown bald he has to sell off $57,000,000 in bad loans

Thomas Wiley has $57mm in bad loans

What me worry?

The Coastal Bank, Savannah Georgia was founded in 1954.  The company is on the problem bank list.  The Texas ratio is 83%.

The Assets are $442MM with equity of $49MM.

The problem loan portfolio is immense.  They have $57MM in problem loans.

Having $57MM in problem loans and $49MM in debt, makes this place insolvent.

Take a look at the website, the first thing you see is the real estate for sale.  This bank is sitting on tons of vacant land.

Who finances vacant land.  Apparently, the CEO J. Thomas Wiley likes to.

This guy is Wiley Coyote

Is this place a bank or a real estate company?

Is this place managing your money?

FEDERAL DEPOSIT INSURANCE CORPORATION
WASHINGTON, D.C.
)
In the Matter of
)
)
THE COASTAL BANK
)
SAVANNAH, GEORGIA
)
)
(Insured State Nonmember Bank)
)
)
CONSENT ORDER
FDIC-11-055b
The Federal Deposit Insurance Corporation (“FDIC”) is the appropriate Federal banking
agency for The Coastal Bank, Savannah, Georgia, (“Bank”), under section 3(q) of the Federal
Deposit Insurance Act (“Act”), 12 U.S.C. § 1813(q).
The Bank, by and through its duly elected and acting Board of Directors (“Board”), has
executed a “STIPULATION AND CONSENT TO THE ISSUANCE OF A CONSENT ORDER” (“CONSENT AGREEMENT”), dated May 26, 2011, that is accepted by the FDIC and
the Georgia Department of Banking and Finance (“Department”). The Department may issue an
order pursuant to section 7-1-91 of the Official Code of Georgia Annotated, GA Code Ann.
Section 7-1-91 (1985). With the CONSENT AGREEMENT, the Bank has consented, without
damitting or denying any charges of unsafe or unsound banking practices or violations of law or
to weaknesses in asset quality, management, earnings, capital, liquidity, and
sensitivity to market risk, to the issuance of this Consent Order (“ORDER”) by the FDIC and the
Department.
Having determined that the requirements for issuance of an order under section 8(b) of
the Act, 12 U.S.C. § 1818(b) and section 7-1-91 of the Official Code of Georgia Annotated, GA
Code Ann. Section 7-1-91 (1985) have been satisfied, the FDIC and the Department hereby order
that:
2
BOARD OF DIRECTORS
1. (a) As of the effective date of this ORDER, the Board shall increase its participation
in the affairs of the Bank, maintaining 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. This participation shall
include continuing to hold Board meetings to be held no less frequently than monthly at which,
at a minimum, the following areas will continue to be reviewed and approved: reports of income
and expenses; new, overdue, renewal, insider, charged off, and recovered loans; investment
activity; adoption or modification of operating policies; individual committee reports; audit
reports; internal control reviews including management’s responses; and compliance with this ORDER. Board meeting minutes shall document these reviews and approvals, including the
names of any dissenting directors.
(b) 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. At least four of the members of such committee shall be directors not employed in any capacity by the Bank other than as a director. The Directors’ Committee shall formulate and review monthly reports detailing the Bank’s actions with respect
to compliance with the ORDER. The Directors’ Committee shall present a report to the Board at each regularly scheduled Board meeting, and such report shall detail the Bank’s adherence to this
ORDER. 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.
3
MANAGEMENT
2. (a) Within 60 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 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 safe and sound banking practices;
(ii) A senior lending 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 operating officer with a significant amount of appropriate experience in managing the operations of a bank of similar size and complexity in accordance with sound banking practices.
(b) The qualifications of management shall be based 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
4
(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.
(c) During the life of this ORDER, the Bank shall notify the Regional Director of the
FDIC’s Atlanta Regional Office (“Regional Director”) and the Department (collectively,
“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, the Bank shall comply with the requirements of section 32 of the Act, 12 U.S.C. § 1831i, 12 C.F.R. §§ 303.100-303.104, and any
Department requirement for prior notification and approval. If the Regional Director issues a
notice of disapproval pursuant to 12 U.S.C. § 1831i, with respect to the proposed individual, then
such individual may not be added to the Board or employed by the Bank.
CAPITAL
3. (a) During the life of this ORDER, the Bank shall continue to maintain a Leverage
Capital Ratio of at least eight percent (8%) and a Total Risk-Based Capital Ratio of at least ten
percent (10%) as those capital ratios are defined in 12 C.F.R. Part 325.
(b) The level of Tier 1 Capital to be maintained during the life of this ORDER
pursuant to this paragraph shall be in addition to a fully funded allowance for loan and lease losses (“ALLL”), the adequacy of which shall be satisfactory to the Supervisory Authorities as
determined at subsequent examinations and/or visitations.
(c) Within 90 days from the effective date of this ORDER, the Bank shall submit to
the Supervisory Authorities a written capital plan. Such capital plan shall detail the steps that the
5
Bank shall take to achieve and maintain the capital requirements set forth in this ORDER. In developing the capital plan, the Bank shall take into consideration:
(i) The volume of the Bank’s adversely classified assets;
(ii) The nature and level of the Bank’s asset concentrations;
(iii) The adequacy of the Bank’s ALLL;
(iv) The anticipated level of retained earnings;
(v) Anticipated and contingent liquidity needs; and
(vi) The source and timing of additional funds to fulfill future capital needs.
(d) In addition, the capital plan must include a contingency plan in the event that the
Bank has failed to:
(i) Maintain the minimum capital ratios required by this paragraph;
(ii) Submit an acceptable capital plan as required by this subparagraph; or
(iii) Implement or adhere to a capital plan to which the Supervisory
Authorities has taken no written objection pursuant to this paragraph.
(e) The contingency plan shall include a plan to sell or merge the Bank. The Bank
shall implement the contingency plan upon written notice from the Supervisory Authorities.
CHARGE-OFF LOSS AND DOUBTFUL
4. (a) Within 10 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” in the
6
Report of Examination dated September 27, 2010 (the “Report”), that have not been previously
collected or charged-off. Elimination of any of these assets through proceeds of other loans
made by the Bank is not considered collection for purposes of this paragraph.
(b) Additionally, while this ORDER remains in effect, the Bank shall, within 10 days
from the receipt of any official Report of Examination of the Bank from the FDIC or the
Department, eliminate from its books, by collection, charge-off, or other proper entry, the
remaining balance of any asset classified “Loss” and 50 percent of those assets classified
“Doubtful” unless otherwise approved in writing by the Supervisory Authorities.
CLASSIFIED ASSET REDUCTION
5. (a) Within 60 days from the effective date of this ORDER, the Bank shall submit a
written plan to the Supervisory Authorities to reduce the remaining assets classified “Substandard” in the Report. In addition, within 60 days from receipt of any future regulatory examination report, the Bank shall submit a written plan to reduce the remaining assets classified
“Doubtful” or “Substandard” in such report. The plan shall address each asset so classified with a
balance of $400,000 or greater and provide the following:
(i) The name under which the asset is carried on the books of the Bank;
(ii) Type of asset;
(iii) Actions to be taken in order to reduce the classified asset; and
(iv) Timeframes for accomplishing the proposed actions.
(b) The plan shall also include, at a minimum:
7
(i) A review of the financial position of each such borrower, including the
source of repayment, repayment ability, and alternate repayment sources; and
(ii) An evaluation of the available collateral for each such credit, including
possible actions to improve the Bank’s collateral position.
(c) In addition, the Bank’s plan shall contain a schedule detailing the projected
reduction of total classified assets on a quarterly basis. Further, the plan shall require the submission of monthly progress reports to the Board and mandate a review by the Board.
(d) The Bank shall present the plan to the Supervisory Authorities for review. Within
30 days from receipt of any comment from the Supervisory Authorities, the plan, including any requested modifications or amendments, shall be adopted by the Board and the approval shall be
recorded in the Board minutes. The Bank shall then immediately implement the plan.
(e) For purposes of the 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 ALLL and may be accomplished by:
(i) Charge-off; (ii) Collection; (iii) 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;
and/or
(iv) Increase in the Bank’s Tier 1 Capital.
8
NO ADDITIONAL CREDIT
6. (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 credit already extended to a borrower after full collection, in
cash, of interest due from the 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.”
(c) The preceding limitations on additional credit 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 extension of any additional credit pursuant to this paragraph, either in the form
of an 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 that:
(i) The failure of the Bank to extend such credit would be detrimental to the best interests of the Bank, including an explanatory statement of why it would be detrimental to the Bank’s best interests;
(ii) The Bank’s position would be improved thereby, including an explanatory
statement of how the Bank’s position would be improved; and
(iii) An appropriate workout plan has been developed and will be
implemented in conjunction with the additional credit to be extended.
9
(d) The signed certification shall be made a part of the meeting minutes of the Board
or its designated committee and a copy of the signed certification shall be retained in the
borrower’s credit file.
CONCENTRATIONS OF CREDIT
7. Within 60 days from the effective date of this ORDER, the Bank shall perform a risk segmentation analysis with respect to the concentrations of credit listed on the Concentrations page(s) of the Report. The analysis should incorporate applicable guidance set forth in Guidance
on Concentrations in Commercial Real Estate Lending, Sound Risk Management Practices, FIL-
104-2006 (Dec. 12, 2006). Concentrations should be identified by product type, geographic
distribution, underlying collateral, or other asset groups which are considered economically
related, and in the aggregate represent a large portion of the Bank’s Tier 1 Capital and ALLL. A
copy of this analysis and a written plan to systematically reduce the concentrations of credit
identified in the Report shall be provided to the Supervisory Authorities. The analysis, plan and
its implementation shall be in a form and manner acceptable to the Supervisory Authorities at the
initial review and at subsequent examinations and/or visitations.
LENDING AND COLLECTION POLICIES
8. (a) Within 60 days from the effective date of this ORDER, the Board shall ensure the full implementation of its written lending and collection policy to provide effective guidance and
control over the Bank’s lending and credit administration functions, which implementation shall
include the resolution of those exceptions enumerated in the Report. In addition, the Bank shall
obtain adequate and current documentation for all loans in the Bank’s loan portfolio. Such policy
10
and its implementation shall be in a form and manner acceptable to the Supervisory Authorities
at subsequent examinations and/or visitations.
(b) The Board shall adopt procedures whereby officer compliance with the revised
loan policy is monitored and exceptions are reported to the Board. 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.
ALLOWANCE FOR LOAN AND LEASE LOSSES AND CALL REPORT
9. (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 was underfunded as set forth in
the Report.
(b) Within 30 days from the effective date of this ORDER, the Board shall review the adequacy of the ALLL and shall maintain 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 Consolidated 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 non-accrual loans, an estimate of
potential loss exposure of significant credits, concentrations of credit, and present and
prospective economic conditions. The review should include a review of compliance with ASC
450 (Topic 450, “Contingencies”) and ASC 310-10-35 (Section 35, “Subsequent Measurement
General,” of Subtopic 310-10). The policy shall adhere to the guidance set forth in the
11
Interagency Policy Statement on the Allowance for Loan and Lease Losses, FIL-105-2006 (Dec.
13, 2006). A deficiency in the ALLL shall be remedied in the calendar quarter it is discovered,
prior to submitting the next Consolidated Reports of Condition and Income, by a charge to current operating earnings. The Board meeting minutes for the 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 as determined at subsequent examinations and/or visitations.
STRATEGIC PLAN
10. (a) Within 90 days from the effective date of this ORDER, the Bank shall prepare
and submit to the Supervisory Authorities an acceptable written 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.
(b) The Board shall approve the business/strategic plan, which approval shall be
recorded in the Board meeting minutes for the meeting at which the business/strategic plan was
approved.
BUDGET
11. (a) Within 60 days from the effective date of this ORDER, the Bank shall review and
revise its written plan and a comprehensive budget for all categories of income and expense for
12
the calendar year ending December 31, 2011. The plan and budget required by this paragraph
shall include formal goals and strategies, consistent with sound banking practices, and take into
account the Bank’s other written policies in order to improve the Bank’s net interest margin,
increase interest income, reduce discretionary expenses, control overhead, and improve and
sustain earnings of the Bank. The plan shall include a description of the operating assumptions that form the basis for, and adequately support, major projected income and expense
components. Thereafter, the Bank shall formulate such a plan and budget by November 30, 2011
and November 30 of each subsequent year and submit the plan and budget to the Supervisory
Authorities for review and comment by December 15, 2011 and December 15 of each
subsequent year. The plan and budget required by this ORDER shall be acceptable to the Supervisory Authorities at the initial review and at subsequent examinations and/or visitations.
(b) On a monthly basis, the Board shall continue to evaluate the Bank’s actual
performance in relation to the plan and budget required by this ORDER 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. The actual performance compared to the budget shall be
submitted to the Supervisory Authorities with the quarterly progress reports required by this
ORDER.
LIQUIDITY AND FUNDS MANAGEMENT
12. (a) Within 60 days from the effective date of this ORDER, the Bank shall review and
revise its written plan to address liquidity, contingency funding, interest rate risk, and asset
liability management.
13
(b) The plan shall incorporate the guidance contained in Liquidity Risk Management,
FIL-84-2008 (Aug. 26, 2008). The plan shall provide restrictions on the use of brokered and
internet deposits consistent with safe and sound banking practices.
(c) A copy of the plan shall be submitted to the Supervisory Authorities and its
implementation shall be in a form and manner acceptable to the Supervisory Authorities at the
initial review and at subsequent examinations and/or visitations.
(d) Beginning with the effective date of this ORDER, the Bank’s management shall
review its liquidity position to ensure that the Bank has sufficient liquid assets or sources of liquidity to meet current and anticipated liquidity needs. This review shall include an analysis of
the Bank’s sources and uses of funds (cash flow analysis). The results of this review shall be
presented to the Board for review each month, with the review noted in the Board meeting
minutes.
ASSET/LIABILITY POLICY
13. Within 60 days from the effective date of this ORDER, the Board shall review and revise,
as necessary, the Bank’s written policy and procedures for managing interest rate risk, taking into
consideration examination findings. The policy shall comply with the Joint Agency Policy
Statement on Interest Rate Risk, FIL-52-1996 (June 26, 1996), 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 provisions for periodic reporting to management and the Board regarding
interest rate risk. Such policy and its implementation shall be satisfactory to the Supervisory
Authorities at subsequent examinations and/or visitations.
14
RESTRICTIONS OF CERTAIN PAYMENTS
14. While this ORDER is in effect, the Bank shall not declare or pay dividends, bonuses, or
any form of payment resulting in a reduction of capital, 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 (or at least 5 days with respect to any
request filed within the first 30 days from 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.
COMPENSATION
15. (a) Within 90 days from the effective date of this ORDER, the Board shall undertake
a review of compensation paid to all of the Bank’s senior executive officers, as defined in 12
C.F.R. § 303.101(b), and implement an employee compensation plan. At a minimum, the review
shall include the following:
(i) An analysis of each officer’s background, experience, duties and responsibilities;
(ii) An evaluation of each officer’s performance compared to the present level
of compensation;
(iii) A comparison of each officer’s total compensation to compensation received by officers with similar responsibilities in similar institutions; and
15
(iv) A determination of whether present officers are capable of implementing
Board directives and policies, complying with applicable laws and regulations, and operating the
Bank in a prudent manner.
(b) For the purposes of this paragraph, “compensation” refers to any and all salaries,
bonuses, and other benefits of every kind and nature whatsoever, whether paid directly or
indirectly. The compensation plan and its implementation shall be in a form and manner
acceptable to the Supervisory Authorities.
INTERNAL AUDIT PROGRAM
16. Within 90 days from the effective date of this ORDER, the Bank shall review and revise
its internal audit program for the Bank to provide adequate internal routines and controls within
the Bank consistent with safe and sound banking practices. Such program and its implementation
shall, at a minimum, be comprehensive in scope to address all areas that pose an elevated risk to
the Bank as more fully set forth in the Report and shall be satisfactory to the Supervisory Authorities at the initial review and at subsequent examinations and/or visitations.
OTHER REAL ESTATE
17. Within 60 days from the effective date of this ORDER, the Board shall review and revise
its written policy for managing the Other Real Estate of the Bank. Such policy shall be consistent
with all applicable laws, regulations, and other regulatory guidelines regarding appraisals,
including, but not limited to, the FDIC’s appraisal regulations as described in 12 C.F.R. § 323,
and Guidance on Other Real Estate, FIL-62-2008 (July 1, 2008). The Bank shall submit the
policy to the Supervisory Authorities for review. The Bank shall approve the policy, which
16
approval shall be recorded in the Board meeting minutes. Thereafter, the Bank shall implement
and fully comply with the policy.
BROKERED DEPOSITS
18. Throughout the effective life of this ORDER, the Bank shall not accept, renew, or
rollover any brokered deposit, as defined in 12 C.F.R. § 337.6(a)(2), unless it is in compliance
with the requirements of 12 C.F.R. § 337.6(b) which governs the solicitation and acceptance of
brokered deposits by insured depository institutions. The Bank shall comply with the restrictions on the effective yields on deposits as described in 12 C.F.R. § 337.6.
SPECIAL MENTION
19. Within 60 days from the effective date of this ORDER, the Bank shall correct the cited
deficiencies in the loans listed for “Special Mention” in the Report.
NO MATERIAL GROWTH WITHOUT NOTICE
20. While this ORDER is in effect, the Bank shall notify the Supervisory Authorities at least
60 days prior to undertaking asset growth that exceeds 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.
VIOLATIONS OF LAW, REGULATION, AND CONTRAVENTION OF POLICY
21. Within 30 days from the effective date of this ORDER, the Bank will eliminate and/or
correct all violations of laws, regulations, and/or contraventions of statements of policy in the
17
Report and shall adopt and implement appropriate procedures to ensure future compliance with all such applicable federal and state laws, regulations, and/or statements of policy.
PROGRESS REPORTS
22. Within 30 days from the end of the first full quarter following the effective date of this
ORDER, and within 30 days from 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 Consolidated Reports of Condition and of Income. 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. All progress reports and other written responses to this ORDER shall be reviewed by the Board and
made a part of the appropriate Board meeting minutes.
SHAREHOLDER DISCLOSURE
23. Within 45 days from the effective date of this ORDER, the Bank shall provide to its
shareholders or otherwise furnish a description of this ORDER, in conjunction with the Bank’s next shareholder communication and in conjunction with its notice or proxy statement preceding the Bank’s next shareholder meeting. The description shall fully describe this 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 Protection, Accounting and
Securities Disclosure Section, 550 17th Street, N.W., Room MB-5073, Washington, D.C. 20429
and to the Commissioner, Georgia Department of Banking and Finance, 2990 Brandywine Rd.,
Suite 200, Atlanta, Georgia 30341-5565 for non-objection or comment at least twenty (20) days
18
prior to dissemination to shareholders. Any changes requested by the FDIC or the Department
shall be made prior to dissemination of the description, communication, notice, or statement.
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 issuance.
The provisions of this ORDER shall be binding upon the Bank, its institution-affiliated
parties, and any successors and assigns thereof. 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.
Issued Pursuant to Delegated Authority.
Dated this 2nd day of June, 2011.
/s/
By: Thomas J. Dujenski
Regional Director
Division of Supervision and Consumer Protection
Federal Deposit Insurance Corporation
19
The Georgia Department of Banking and Finance 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 Georgia Commissioner of Banking and Finance to
the same degree and to the same legal effect that such ORDER would be binding if the
Department had issued a separate ORDER that included and incorporated all of the provisions of
the foregoing ORDER, pursuant to Official Code of Georgia Annotated § 7-1-91(1985).
Dated this 31st day of May, 2011.
/s/ By: _______________________________
Robert M. Braswell Commissioner
Department of Banking and Finance
State of Georgia

Conway Bank Conway South Carolina

July 18, 2011

Conway Bank, Conway South Carolina was founded in 1914.  The company is on the problem bank list.  The Texas ratio is  34%.  The stock is delisted.

Assets are $941MM with equity of $86MM.

The problem loan portfolio is $45MM.

The problem loans could cripple the equity base.

The executives might have wiped out the stockholders, but they sure took care of themselves.

W. Jennings Duncan            made     $266k

L Ford Sanders                     made       $227k

William Bensen                    made        $159k

Marion Freeman                 made         $194k

Philip Thomas                     made          $175k

M. Terry Hyman                 made          $158k

This includes country club fees and car allowances.

That is pretty good pay for wiping out the stock holders and racking up a ton of bad loans.

L. Ford gets paid well to play golf and make bad loans

This place survived the Great Depression, but it might not survive W. Jennings Duncan.

I guess in the south, if you are a lawyer or a banker, you get to stick a letter in front of your name.

Are these people holding your money?

Enterprise Bank of Florida North Palm Beach Florida

July 18, 2011

Take a look at the new site

capital2risk.com

This is Hugh Jacobs he runs this debacle

Why is Hugh going bald? He is sitting on $14,000,000 in junk loans

Enterprise Bank of Florida, North Palm Beach Florida was founded in 1991.  For some reason, they aren’t on the problem bank list. I guess a Texas ratio of 63%, won’t cut it in Florida these days.

This is Michael McAvoy, he makes all the sh$$t loans

Michael has about 12 chins, he ain’t missing an meals

Assets are $256MM, with equity of $28MM.

The company has $28MM in problem loans, with $11MM in non accrual construction loans.

Wait, they have $28MM in bad loans with only$28MM in equity?

Do you think  this place should at least be on the problem bank list?

This enterprise is bankrupt.

Timothy Terry, the CEO, did a great job of racking a ton of bad loans.

Do you have money in this disastrous Enterprise?

First National Bank of Brookfield Brookfield Illinois

July 18, 2011

First National Bank of Brookfield, Brookfield Illinois was founded 1962.  The company is on the problem bank list.  The Texas ratio is 326%.

Assets are $174MM and $10MM in equity.

The problem loan portfolio is $57MM.

With $57MM in problem loans and $10MM in equity, do you think this place is bankrupt?

Why is this place still open?

Do you bank with this group?

Americana Community Bank Sleepy Eye Minnesota

July 18, 2011

This is Bob Dittrech

Bob bankrupted a 100 year

Bob got his bank on the problem bank list

Bob’s bank is on the under capitalized bank

This is one on the worst banks in the country

Do you have money in this bankrupt disaster

Bob should be in jail

Americana? only in sleepy eye

Americana Community Bank, Sleepy Eye Minnesota was founded in 1881. They are on the problem bank list.  The Texas ratio is 144%.

They are also on the under capitalized bank list.  They might as well be on the insolvent bank list.

Assets are $133MM with $3.6MM in equity.

The problem loan portfolio is $12MM.

This bank is looking pretty insolvent.

Why is this place still open?

These cats are a little sleepy eyed when the make loans.

HarVest Bank of Maryland Gaithersburg Maryland

July 18, 2011

This is John Hollerbach

John got his bank on the problem bank list

John lost $2,800,000 in Q4 2011

John wiped out 75% of the remaining equity in only 90 days

Why is John bald? John is sitting on $27,000,000 in bad loans with only $4,780,000 in equity

This could be the worst bank in the state



HarVest Bank of Maryland, Gaithersburg Maryland was founded in 2003.  The company is on the problem bank list for weaknesses in management, earnings, asset quality and capital. That might explain the Texas ratio of 323%.

They are also on the under capitalized bank list.  You could even throw them on the insolvent bank list.

Assets are $153MM with equity of $5MM.

The problem loan portfolio is $38MM.

This abortion is BANKRUPT!

They have $38MM in bad loans and $5MM in equity.

This place is bankrupt, why aren’t they shut down?

This management team wiped out 240% of the equity in only 3 years.

It didn’t take this crew long to bankrupt this place.

With net income of $4.1MM and over head of $8.5MM, these team loses money just opening the doors.  They might want to get a grip on the operating leverage.

Is this your bank?

Farmers Bank of Lynchburg Lynchburg Tennessee

July 18, 2011

How does for ever sound, break out the J.D.

Farmers Bank of Lynchburg, Lynchburg Tennessee was founded in 1890.  The company is on  the under capitalized bank list.  They might as well slap them on the insolvent bank list.

Assets are $202MM, with equity of $21MM.

The problem loan portfolio is $8MM.

Net income was ($6MM) in FY10.  They lost another $163k in Q1 2011.

In FY10, net income was $7MM and the overhead was $10MM.  This place loses money, just opening the door.  Do you think they may want to fix the operating leverage?

The way this place is going, they might as well close the thing and head over to the J.D. plant.

Citizens State Bank Hudson Wisconsin

July 18, 2011

They should fire tom Van Pelt and hire these guys, can’t be any worse

These cats wounded engage in unsafe and unsound lending

Citizens State Bank, Hudson Wisconsin was founded in 1901.  The company is on the problem bank list for unsafe and unsound lending practices.  The Texas ratio is 129%.

They are also on the under capitalized bank list. You might as well throw them on the insolvent bank list, while you are at it.

Assets are $140MM with equity of $6MM.

The problem loan portfolio is $13MM.

Having $13MM in problem loans and $6MM in equity is making this place look bankrupt.

Not only can these folks make bad loans, they are great at losing money.  Net income was ($2MM) in FY10 and ($5MM) in FY09.  They lost another $472k in Q1 2011.

Tom Van Pelt is the CEO, the company made it through the Great Depression but it won’t survive him.

Take a look at the website.  Check out the real estate for sale, they have 160 vacant lots for sale.  Who in their right mind finances vacant lots.  I guess tom Van Pelt does, with abandon.

Cornerstone Bank Wilson North Carolina

July 16, 2011

Take a look at the new site

capital2risk.com

This is Norm Osborn he wiped out the shareholders

Norm’s bank is on the problem bank list

Norm wiped out 275% of the equity in only 3 years

Cornerstone Bank Wilson North Carolina was founded in 2000.  This place is a piece or work.  They are on the problem bank list.  A Texas ratio of 223%, might do that to you.  The stock is delisted

They are also on the under capitalized bank list.  They should be on the insolvent bank list.

Assets are $161MM with equity of $4MM.

The problem loan portfolio is $20MM.

So, they have $20MM in bad loans and $4MM in equity?

They are bankrupt!

How about closing this disaster down.

Net income was ($7.6MM) in FY10 and ($1.8MM) in FY09.  They lost another $159k in Q1 2011.

Norm Osborn is the CEO, this cat wiped out 275% of the equity in the last 3 years.

Check out the FYE10 financial statement, the auditors question their going concern value. You think!

Take a look at the website, they are doing a stock offering.

They state that it is ” rare opportunity”.  I don’t doubt that, it is a rare opportunity to lose all of your money.

It requires a $100k minimum with a 5% coupon.  How the hell can they pay a coupon, all they do is lose money.

What kind of dope would invest money with Norm Osborn and his bankrupt bank?

Do you have money in this debacle?

Cornerstone Bank?   They are on the cornerstone of bankruptcy.

First Choice Bank Geneva Illinois

July 16, 2011


This is Jim Valete, the CEO, he is responsible for getting this place on the problem bank list

Jim’s bank is also on the under capitalized bank list

Jim wiped out 275% of the equity in only 3 years.

  Jim would not be my First Choice as the CEO, he’s be the last!

Is this your bank? It wouldn’t be my First Choice

That is Jim in the middle, why is this clown giving money away? This place is bankrupt.

First Choice Bank, Geneva Illinois was founded in 2001.  They are on the problem bank list.  The Texas ratio is 222%.

They are also on the under capitalized bank list.

Assets are $149MM with equity of $5MM.

The problem loan portfolio is $23MM.

With $23MM in problem loans and $5MM in equity, this place is bankrupt.

Why isn’t this place closed down?

Net income was ($8.8MM) in FY10.  They lost $1.3MM in Q1 2011.

Jim Valete is the CEO, he wiped out 275% of the equity in only 3 years.

Do you have money here?

This bank wouldn’t be my first choice.

Hometown Community Bank Braselton Georgia

July 16, 2011

 

She is chocking on her words

The battle of Lexington and Concord was fought in New Hampshire

Hometown Community Bank, Braselton Georgia was founded in 2008.  The Texas ratio is 452%.

The bank is on the under capitalized bank list.

Assets are $133MM and equity of $3MM

The problem loan portfolio is $34MM.

With $3MM in equity and $34MM in problem loans, this place is bankrupt.

Why isn’t this place closed down?

Net income was ($4.7MM) in FY10 and ($1.7MM) in FY09.  They lost $173k in Q1 2011.

Sean Childers is the CEO,  he bankrupted this place in record time.

Do you have money in this thing.

Gobal Commerce Bank Doraville Georgia

July 16, 2011

Hire this guy as CEO, he conservative christian values, married 3 times

He makes $1.8MM  a year to consult Fannie, hold on they are bankrupt and owned the tax payer

So the government uses your tax dollars to pay this guy to bankrupt a government entity, legal

Global Commerce Bank, Doraville Georgia was founded in 1995.  The Texas ratio is 293%.

What the hell is Global Commerce?     $4.5MM in equity

The company is on the under capitalized bank list.

Assets are $147MM with equity of $4.5MM.

The problem loan portfolio is $48MM.

They have $48MM in bad loans and $4.5MM in debt, this place is bankrupt.

Check out the website, they won’t tell you who the CEO is.

Whoever it is, they wiped out 300% of the equity.

Do you have money in this place?

Goldwater Bank Scottsdale Arizona

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?

First National Bank of Baldwin County Foley Alabama

July 16, 2011

This place lost $4,441,000 in Q4 2011, wiping half of the remaining equity

The Texas ratio is 90%, this is one of the worst banks in the state

Do you have money in this bankrupt entity?

Hazardous Commercial Lending

Can’t be any more hazardous than these 3

First National Bank of Baldwin County, Foley Alabama was founded in 2001.  The company is on the problem bank list, for hazardous commercial real estate lending.  The Texas ratio is 76%.

They are also on the under capitalized bank list.  They might as well be on the insolvent bank list.

Assets are $244MM with equity of $14MM.

The problem loan portfolio is $14MM.

Do you think this place is bankrupt?

Net income was ($4.7MM) in FY10 and ($5MM) in FY09.  They lost another $1.3MM in Q1 2011.

Wade Neth is the CEO, who bankrupted this place.

He wiped out 43% of the equity in 3 years.

Hey Wade, the net income was $7MM and the overhead was $8MM in FY10.  Do you think there is a problem with the operating leverage?

You lose money just opening the door, let alone making a ton of bad loans.

Patterson Bank Patterson Georgia

July 16, 2011

Are these you banksters, William Hughes wiped out a 100 year old bank

Patterson Bank, Patterson Georgia was founded in 1907.  They are on the problem bank list.  I guess with a Texas ratio of 238%, they are well qualified.

They are on the under capitalized bank list.  If there were an insolvent bank list, they would be on it also.

Assets are $151MM with equity of $6MM.

There are $29MM in problem loans.

With $29MM in problem loans and $6MM in equity, this bank is F$$??ing bankrupt.

Maybe this thing should be closed down.

Net income was ($2.6MM) in FY10 and ($1.6MM) in FY09.  They lost another $557k in Q1 2011.

This place will be wiped out in no time.

William Hughes is the CEO, he destroyed 100% of the capital in only 3 years, this guy is good.

The bank survived the Great Depression but it won’t survive William Hughes.

Do you have money in this bankrupt place?

William Hughes will take care of that for you.

This bank survived the great depression but it won’t survive William Hughes.

First Southern Community Bank Statesboro Georgia

July 16, 2011

First southern Community, Bank Statesboro Georgia was founded in 2002.  They are on the problem bank list, for hazardous commercial real estate lending.  The Texas ratio is 287%.

Assets are $174MM with equity of $4MM.

The problem loan portfolio is $34MM.  They have $12MM in non accrual construction loans, that alone will wipe them out.

They have $34MM in problem loans with $4MM in equity.

This bank is beyond bankrupt.

Why is this place not closed down?

Net income was ($14MM) in FY10 and ($9MM) in FY09.  They lost another $2.4MM in Q1 2011.

F. David Thomas is the CEO, this guy destroyed 375% of the equity in only 3 years.

David what does the F. stand for ?  I really F$?$*ed up this place in record time.

F$?$*ed is going to be what the tax payer is, when they have pay for the ignorance of F. David Thomas.

How about putting him in the first southern jail!

This place will be bankrupt in a few months.

Do you money in this bank?

You have the Statesboro blues!

Creekside Bank Woodstock Georgia

July 16, 2011

Hire this cat as CEO, he is cagey

Creekside Bank, Woodstock Georgia was founded in 2006.  Great timing.  They are on the problem bank list.  That might explain the 600% Texas ratio.

They are also on the under capitalized bank list.  If there were an insolvent bank list, they would be on that also.

Assets are $103MM, with equity of $2MM?

There are $27MM in problem loans.

What, there are $27MM in problem loans with $2MM in equity!

Do you think this place is bankrupt?

Why isn’t this thing closed down?

Larry Peterson the CEO, wiped out 287% of the equity in record time.

Net income was ($4.5MM) in FY10 and ($5.4MM) in FY09.  They lost another $507k in Q1 2011.

Larry Peterson is great at making bad loans and losing money.

Is anyone looking for an incompetent CEO?

Do you have money in this place?

Sunrise Bank Cocoa Beach Florida

July 16, 2011

 

Take a look at the new site

capital2risk.com

This is Larry Roselle, he got this place on the problem bank list

his place is bankrupt, Sunrise how about sunset, how about putting this guy in jail

Sunrise Bank Cocoa Beach Florida was founded in 2005.  Great timing.  They are on the problem bank list.  I guess when the Texas ratio is 240%, there might be a problem.

They are on the under capitalized bank list.  If there were an insolvent bank list, they would be on there also.

Assets are $121MM with equity of $1MM.

The problem loan portfolio is $17.5MM.

Holy S$$$$?t, they have $17.5MM in bad loans and $1MM in equity, this place is bankrupt.

The question is not when, but how soon will they shut this disaster down.

Talk about a zombie bank.

Larry Rosselle ran this place into the ground in record time, he should be in jail.

This clown wiped out 467% of the equity in 3 years.

Do you have money in this disaster.

The sun is not rising on Larry Rosselle, he needs to be incarcerated.

Community Bank of Bergen County Maywood New Jersey

July 15, 2011

Do you have money in this Ponzi?

 

Community Bank of Bergen County Maywood New Jersey was founded in 1928.  The stock is delisted.

Assets are $314MM with equity of $26MM.

There are $25MM in problem loans.

So, they have $25MM in problem loans with $26MM in equity, that is a problem.

Then again, they aren’t on the problem bank list, go figure.

Peter Michelotti is the CEO, this place survived the Great Depression but will it survive him?

North State Community Bank Raleigh North Carolina

July 15, 2011

        Check out Larry Barbour, he gets paid $385k, which includes a country club membership and a car allowance

The stock is de listed as he wiped out the stockholders

Do you have money with Larry?

North State Community Bank, Raleigh North Carolina was founded in 2000.  The stock is delisted.

Assets are $649MM with equity of $51MM.

The problem loan portfolio is $37MM.

They have $37MM in bad loans supported only $51MM in equity.

Why isn’t this place on the problem bank list?

The management team ran this place into the ground in record time, but they still pay themselves well.

Larry Barbour     “earned”  $385k

Kirk Whorf                  made$157k

David Shipp               made $183k

Sandra Temple          made $169k

William Wiley             made $107k

J. Kenneth  Sykes      made $687k

Margaret Pattison     made $179k

These salaries include country club fees and car allowances.

Larry Barbour got $31k in auto allowances and $21k in country club fees.  That is probably more than the average wage in North Carolina

Larry who is better than you, you wiped out the stockholders, bankrupted the company, and they pay you to play golf!

Maybe it is better if Larry is out golfing, it may stop him from making more bad loans.

J. Kenneth Sykes gets paid 40 basis points for his mortgage production, sounds somewhat illegal.

Net income was $1.4MM in FY10 and these executives made $1.8MM.  They make more than the whole company combined. That might be why the stock is delisted?

Do you have money in this zombie?

You are paying for Larry’s country club fees.

KS Bank Smithfield North Carolina

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.

Crescent Bank Myrtle Beach South Carolina

July 15, 2011

Take a look at the new site

capital2risk.com

Check out David Morrow, he bankrupted this place in record time

He racked up $30MM in bad loans

Do you have money in this disaster?

David Morrow has bankrupted this place

Crescent Bank, Myrtle Beach South Carolina was founded in 2001. The Texas ratio is 81%.

Assets are $355MM with equity of $22MM.

The problem loan portfolio is $30MM.

So, they have $30MM in bad loans, with only $22MM in equity and they aren’t on the problem bank list?

This place is an insolvent, zombie bank.

Net income was ($12MM) in FY10 and they lost $553k in Q1 2011.

They lost $1.7MM in Q2 2011.

The CEO, David Morrow, wiped out 45% of the equity in only 3 years.

Do you have money in this insolvent place?

They are on the Crescent of bankruptcy.

Bank of the Lakes Owasso Oaklahoma

July 15, 2011

Mike Gibson is looking for your money?

 

Bank of the Lakes, Owasso Oklahoma as founded in 1976.  The Texas ratio is 62%

Assets are $184MM with equity of $19MM.

The problem loan portfolio is $19MM.

Wow, having $19MM in equity and $19MM in bad loans, can’t even get you on the problem bank list these day.

The CEO Mike Gibson, did a good job sinking this ship.

Do you have money in this thing?

You might want to jump into the lake.

Mike Gibson should be able to bankrupt this place in the near future.

This guy has got talent.

American Bank and Trust Davenport Iowa

July 15, 2011

would you  bank and trust with this place, I’ll stick Bernie Madoff

American Bank and Trust, Davenport Iowa was founded in 1999.  The company is on the problem bank list.  The Texas ratio is 65%.

Assets are $529MM, with equity of $41MM.

The problem loan portfolio is comical.  They have $31MM in problem loans, these jokers have $13MM in construction loans on non accrual.

With $31MM in bad loans and $41MM in equity, this place is insolvent.

Why isn’t this thing closed?

Net income was ($6MM) in FY10 and ($3MM) in FY09.  They lost another $921k in Q1 2011.

Thomas Criswell is the CEO who wiped this place out.

He eroded 31% of the equity in only 3 years.

Thomas, in FY10, net income was $21MM and the overhead was $33MM.  Do you think there is problem with the operating leverage?

These guys lose money just opening the doors, couple that with all the bad loans they make.  This place is a walking disaster.

Do you keep your money here?

Idaho Independent Bank Coeur D’Alene Idaho

July 15, 2011

Jack Gustavel ran this bank into the ground and wiped out the stockholders

He pays himself $480K, which includes a country club membership a a car allowance.

This cat is adept at making bad constuction loans

Why is he smiling, for getting paid $480k to destroy a bank, I would be smiling also

Idaho Independent Bank, Coeur D’Alene Idaho was founded in 1993.  The stock is delisted.

Assets are $447MM with equity of $55MM.

The problem loan portfolio is impressive.  They have $49MM in problem loans.  Get this, they have $30MM in construction loans on non accrual.

With $49MM in problem loans and $55MM in equity, this place is insolvent.

This zombie should closed.

Why isn’t this place on the problem bank list. I would think being insolvent would be a problem.

The executives ran this place into the ground but at least they pay themselves well to do it.

Jack Gustavel      made $480k

Paul Montreul   made $143k

Kurt Gustavel   made $246k

Rod Colwell       made $140k

This includes country club fees and car allowances.

The Gustavel’s, wiped out the shareholders, bankrupted the bank and get paid to play golf.  These clowns have it made.

Do you have money in this zombie bank?

The Gustavel’s need your money for the country club fees.

Citizens Independent Bank Saint Louis Park Minnesota

July 15, 2011

This place is history, thanks Brad

Citizens Bank Saint Louis Park Minnesota was founded in 1950.  For some reason, they are not on the problem bank list.

Assets are $309MM with equity of $25MM.

The problem loan portfolio is $31MM.

Hold on, they have $31MM in problem loans and $25MM in equity.

Do your think, they should probably be on the problem bank list.

They are looking pretty insolvent.

Brad Bakken, the CEO, has done a good job of racking up problem loans.

Farmers Bank & Trust Bend Kansas

July 15, 2011

Would you bank or trust this place, talk about getting bent

Thanks Bill Robbins, you wiped out a 100 year bank

Farmers Bank and Trust Bend Kansas was founded in 1907.  The company is on the problem bank list.  The Texas ratio is 39%.

Assets are $642MM with equity of $70MM.

The problem loan portfolio is $38MM.

The problem loan portfolio could wipe out a significant level of the equity position.

Maybe that is why they are on the problem bank list.

Bill Robbins is the CEO, this place might have survived the recession but is might not survive Bill Robbins.

Do you have $ in this bank?

Bill Robins will bend you over. Get Bent

The Farmers Bank of Bulh Idaho

July 15, 2011

Mike Hanlton destroyed this 100 year old bank, with hazardous lending

The Famers Bank of Bulh Idaho was founded in 1917.  The company is on the problem bank list for hazardous commercial real estate lending.

Assets are $369MM with equity of $47MM.

The problem loan portfolio is $42MM.

That is pretty scary, $42MM in bad loans with $47MM in equity.

This place is technically insolvent.

The problem loans, could easily wipe out the rest of the equity.

Mike Hanlton is the CEO, this place survived the great depression, can it survive Mike Hanlton.

Got money in this place? You might be hanging with Mike Hanlton and his swine.

Village Bank St Francis Minnesota

July 14, 2011

Take a look at the new site

capital2risk.com

This place is bankrupt

They lost $5,000,000 in Q4 2011

These clowns wiped out 56% of the remaining equity in 90 days

 This piece of sh$$t is sitting on $30,000,000 in junk loans

Don Kevton bankrupted this place

Don’s bank is on the problem bank list

Don’s bank is almost bankrupt


These boys have insider information

This looks like some hazardous activity

Keep it in the village

Village Bank, St Francis Minnesota was founded in 1993.  The company is on the problem bank list, for hazardous commercial real estate lending.  That may explain the 126% Texas ratio.

Assets are $232MM, with equity of $10MM

Get a load of the problem loan portfolio.  They have $46MM in problem loans.

Hold on, there are $46MM in problem loans with only $10MM in equity.

This place is bankrupt.

This place should be closed

They lost $4.7MM in Q2 2011

How about shutting this zombie bank down.

Don Kveton, the CEO, did an admirable job in racking up serious levels of problem loans.

He also wiped out 64% of the equity in 3 years.

Only the village idiot keeps their money in this place.

First Century Bank Bluefield West Virginia

July 14, 2011

Check out the  new site more rednecks

capital2risk.com

These people are holding your money

This is one of the worst banks in the state

This is RW Wilkerson he bankrupted this 100 year old bank and wiped out the stockholders

RW got paid $280,000 to destroy this bank

RW also wiped out the stockholders

RW makes $280,000 a year probably not a bad salary in Cuntucky

First Century Bank, Bluefield West Virginia was founded in 1891.  For some reason, they aren’t on the problem bank list. The stock is delsited.

Assets are $420MM with equity of $39MM.

The problem loan portfolio is $23MM.

The problem loans, could potentially wipe out a large percentage of the equity base.

At least the executives were paid well, for racking up all these bad loans.

RW Wilkerson   made $280k

Frank Wilkerson made $165k

John Beckett      made $150k

That is good pay for wiping out the shareholders.

The bank survived the Great Depression but it might not survive the Wilkerson’s.

They made is through the First Century, but the Wilkerson’s might prevent it from making it through the next century.

Do you money here?

First National Bank USA Boutte Louisiana

July 14, 2011


 

here is the new CEO

Sober

he can’t be worse than Brand Dufrene

 

 

 

 

 

First National Bank USA, Boutte Louisiana was founded in 1975.  They are on the problem bank list.  That might explain the 94% Texas ratio.

Assets are $154MM with equity of $15MM.

The problem loan portfolio is $28MM!

Hold on, the problem loan portfolio is twice the size as the equity position?

This place is history.

Why aren’t they shut down?

Check out the website.  Look at the Presidents message from Brandt Dufrene.

That is comforting, contrasted with the problem loan portfolio.

Do you have money in this bankrupt entity?

They should change their motto to “here today gone tomorrow”.

Security Bank of Kansas City Kansas City Kansas

July 14, 2011

Are you feeling like you you have some security

I would trust this guy more than James Lewis

 

Security Bank of Kansas City, Kansas City Kansas was founded in 1933.  The Texas ratio is 68% but for some reason, they aren’t on the problem bank list.

Assets are $850MM, with equity of $113MM

The problem loan portfolio is $106MM.

I guess having enough problem loans to wipe out your equity base, isn’t enough to get on the problem bank list.

This bank is insolvent.

James Lewis is the CEO.  This place survived the depression, but it won’t survive James Lewis.

Do have money in this zombie bank? Do you feel secure?

Security, is not a name I would be using for this bankrupt entity.

The Delaware County Bank & Trust Lewis Center Ohio

July 14, 2011

Do you have money in this disaster?

Bank & Trust

The Delaware County Bank & Trust Lewis Center Ohio was founded in 1950.  The company is on the problem bank list.  The Texas ratio is 47%.  The stock is delisted.

Assets are $588MM, with equity of $37MM

The problem loan portfolio is $36MM.

Having $36MM in bad loans and $37MM in equity, would make this place insolvent.

The management team destroyed 53% of the equity in only 3 years.

Despite wiping out the stockholders, the executives paid themselves well.

David Folkwein          made   $216k

John Ustaszewski     made $149k

Thomas Whitney      “earned” $171k

Barbara Walters        made $149k

Tim Kirtley                 made $151k

Brian Stanfill             made $145

Don’t worry, this includes country club fees.

That is good pay for bankrupting a 61 year old bank and wiping out the stockholders.  Imagine what they would get paid if, they knew what they were doing.

Do you have money in this train wreck?

Rocky Mountain Bank Wilson Wyoming

July 14, 2011

Rocky Mountain Bank lost $9,345,000 in Q4 2011

They wiped out 154% of the equity in 90 days

This disaster has $32,000,000 bad loans

Do you have money in this disaster?

This is the worst bank in the state

Where is Kevin Wilson have you seen him around town?

These rocky mountain oysters are worth more than this bank

Rocky Mountain Bank, Wilson Wyoming was founded in 1983.  The company is on the problem bank list.  The Texas ratio is 130%, making it the worst bank in the state.  They are on the problem bank list.  It sounds like there are some conflicts of interest between the board of directors and the management team.  Maybe these guys should be locked up.  Then again, they will be bankrupt before that happens

This disaster lost another $6MM in Q2 2011.  The equity position went from $16MM to $9.9MM in 90 days. That equates to $66,666 in losses per day.

They lost $7MM in Q3 wiping out 100% of the remaining equity.

These jokers now have $8MM in equity and $30MM in bad loans.

The CEO Kevin Wilson destroyed 60% of the remaining equity in 3 months.

He should be able to wipe out the rest of the equity by the end of Q3.

Assets are $257MM, with equity of $9.9MM.

The problem loan portfolio in relation to the equity position is phenomenal.  They have $38MM in problem loans.  There are $18MM in problem construction loans, this alone will wipe them out.

With $38MM in bad loans and $9.9MM in equity, this place is beyond bankrupt.

They lost $7.4MM in Q3 wiping out 92% of the remaining equity

Why is this disaster not shut down?

Take a look at the website, click on letter from the CEO, it is “coming soon”.  What the hell does that mean?

Here is a letter to the CEO, you bankrupted the company.

It looks like the CEO is in hiding and doesn’t want his name on this abortion.

Kevin Wilson is the Chairman.

This is the guy that ran this place into the ground.

Kevin Wilson should be eating rocky mountain oysters.

Do you have money in this place?

You might want to stick it up in Jackson’s Hole.

UNITED STATES OF AMERICA BEFORE THE
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
WASHINGTON, DC.
STATE OF WYOMING DEPARTMENT OF AUDIT DIVISION OF BANKING CHEYENNE, WYOMING
Written Agreement by and among
ROCKY MOUNTAIN CAPITAL Wilson, Wyoming
ROCKY MOUNTAIN BANK Wilson, Wyoming
FEDERAL RESERVE BANK OF KANSAS CITY Kansas City, Missouri
and
WYOMING DEPARTMENT OF AUDIT DIVISION OF BANKING Cheyenne, Wyoming
Docket Nos. 10-249-WA/RB-HC 10-249-WA/RB-SM
WHEREAS, in recognition of their common goal to maintain the financial soundness of Rocky Mountain Capital, Wilson, Wyoming (“RMC”), a registered bank holding company, and its subsidiary bank, Rocky Mountain Bank, Wilson, Wyoming (the “Bank”), a state-chartered bank that is a member of the Federal Reserve System, RMC, the Bank, the Federal Reserve Bank of Kansas City (the “Reserve Bank”), and the Wyoming Department of Audit, Division of Banking (the “Division”) have mutually agreed to enter into this Written Agreement (the “Agreement”); and [Page Break]
Page 2
WHEREAS, on January 12, 2011, the boards of directors of RMC and the Bank, at duly constituted meetings, adopted resolutions authorizing and directing Kevin Wilson to enter into this Agreement on behalf of RMC and the Bank, and consenting to compliance with each and every applicable provision of this Agreement by RMC, 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, RMC, the Bank, the Reserve Bank, and the Division agree as follows: Source of Strength
1. The board of directors of RMC shall take appropriate steps to fully utilize RMC’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 and any other supervisory action taken by the Bank’s federal or state regulators.
Board Oversight
2. Within 60 days of this Agreement, the board of directors of the Bank shall submit to the Reserve Bank and the Division a written plan to strengthen board oversight of the management and operations of the Bank and to ensure that the Bank is operated in a safe and sound manner. 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 [Page Break]
Page 3
senior management and major operations and activities, including but not limited to, credit risk management, lending and credit administration, capital, earnings, funds management, compliance with laws and regulations, and internal audit;
(b) the responsibility of the board of directors to monitor management’s adherence to approved Bank policies and procedures, and applicable laws and regulations;
(c) a description of the information and reports that will be regularly reviewed by the Bank’s board of directors in its oversight of the operations and management of the Bank, including information on the Bank’s problem assets, allowance for loan and lease losses (“ALLL”), capital, earnings, funds management, compliance, and internal audit;
(d) the maintenance of adequate, complete, and accurate minutes of all board meetings, approval of such minutes, and their retention for supervisory review; and
(e) the development and implementation of a formal tracking system and resolution process to ensure corrective actions are taken on a timely basis to address audit, loan review, and regulatory findings.
Conflicts of Interest
3. Within 30 days of this Agreement, RMC and the Bank shall submit to the Reserve Bank and the Division a written code of ethics and conflicts of interest policy which applies to all directors, officers, and employees of RMC and the Bank. The code of ethics and conflicts of interest policy shall address, at a minimum, the fiduciary duties of all directors, officers, and employees of RMC and the Bank and the avoidance of conflicts of interest, in particular in the administration of loans to insiders, shareholders, [Page Break]
Page 4
and their immediate families and any transaction from which any such individual may derive personal benefit.
4. Within 30 days of this Agreement, RMC and the Bank shall submit to the Reserve Bank and the Division an acceptable written plan to ensure compliance with the code of ethics and conflicts of interest policy by all directors, officers, and employees of RMC and the Bank. The plan shall provide, at a minimum, for:
(a) Policies and procedures to require the written disclosure to the board of directors of RMC or the Bank, as appropriate, of any actual or potential conflict of interest of any RMC or Bank officer, director, employee, or principal shareholder;
(b) policies and procedures for complying with Regulation O of the Board of Governors, which restricts credit that a member bank may extend to its executive officers, directors, and principal shareholders and their related interests
(12 C.F.R. Part 215);
(c) internal controls that monitor compliance with the code of ethics and conflicts of interest policy and report any noncompliance or exceptions to the approved policy to the board of directors of RMC and the Bank, as appropriate; and
(d) training for all directors, officers, and employees of RMC and the Bank provided on a regular basis regarding the code of ethics and conflicts of interest policy of RMC and the Bank and the requirements of Regulation O of the Board of Governors regarding loans to insiders.
Management Review
5. Within 60 days of this Agreement, the board of directors of the Bank shall complete an assessment of the Bank’s management and staffing needs (the “Management [Page Break]
Page 5
Review”). The primary purpose of the review shall be to aid in the development of a suitable management structure commensurate with the size and complexity of the Bank that is adequately staffed by qualified personnel. The Management Review shall, at a minimum, address, consider, and include:
(a) The identification of the type and number of senior executive officers needed to manage and supervise properly the affairs of the Bank;
(b) an evaluation of each senior officer’s present and anticipated
duties;
(c) an evaluation of reporting lines within the management structure;
and
(d) the identification of present and future management and staffing needs for each area of the Bank, particularly in the areas of lending, credit risk management, credit administration, problem asset resolution, compliance, and internal audit.
6. Within 30 days of completion of the Management Review, the board of directors of the Bank shall submit a written management plan to the Reserve Bank and the Division that includes the findings and conclusions of the Management Review and describes the specific actions that the board of directors will take to strengthen the Bank’s management and to hire, as necessary, additional or replacement personnel.
Credit Risk Management
7. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Division an acceptable written plan to strengthen credit risk management practices. The plan shall, at a minimum, address, consider, and include: [Page Break]
Page 6
(a) The responsibility of the board of directors to establish appropriate risk tolerance guidelines and risk limits;
(b) procedures to periodically review and revise risk exposure limits to address changes in market conditions;
(c) strategies and timeframes to minimize credit losses and reduce the level of problem assets;
(d) establishment of a credit committee;
(e) procedures to identify, limit, and manage concentrations of credit, including, but not limited to, establishment of concentration of credit risk tolerances or limits by types of loan products, geographic locations, and other common risk characteristics, and for commercial real estate, consistency with the Interagency Guidance on Concentrations in Commercial Real Estate Lending, Sound Risk Management Practices, dated December 12, 2006 (SR 07-1);
(f) policies and procedures to monitor and control risk associated with individual relationship concentrations; and
(g) the means by which the Bank will reduce concentrations of credit identified in the report of examination conducted by the Reserve Bank and the Division that commenced on May 10, 2010 (the “Report of Examination”), and timeframes for achieving reducing concentration levels.
Lending and Credit Administration
8. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Division acceptable revised written lending and credit administration policies and procedures that shall, at a minimum, address, consider, and include: [Page Break]
Page 7
(a) Revised policies for highly leveraged transactions that incorporate and are consistent with the Interagency Guidance on Leverage Financing dated
April 17, 2001 (SR Letter 01-9 (Sup));
(b) revised policies and procedures for conducting real estate appraisals and evaluations including, but not limited to, when loans are extended or renewed, when new funds are advanced, or when changes in market conditions or the condition of the collateral occur, that are consistent with the requirements of Subpart G of Regulation Y of the Board of Governors (12 C.F.R. Part 225, Subpart G) made applicable to state member banks by section 208.50 of Regulation H of the Board of Governors
(12 C.F.R. § 208.50), and the Interagency Appraisal and Evaluation Guidelines, dated October 27, 1994 (SR 94-55);
(c) revised individual lending authorities;
(d) establishment of lending limits by borrower and industry; and
(e) standards for the appropriate use of interest reserves and enhanced monitoring of loans with interest reserves.
Loan Grading and Loan Review
9. Within 30 days of this Agreement, the Bank shall submit to the Reserve Bank and the Division an acceptable written program for the effective grading of the Bank’s loan portfolio. The program shall provide for policies, procedures, and processes for the timely and ongoing grading of loans. The program shall, at a minimum, address, consider, and include:
(a) Standards and criteria for assessing the credit quality of loans, including a discussion of the factors used to assign appropriate risk grades to loans; [Page Break]
Page 8
(b) procedures for the early identification of problem loans;
(c) procedures to re-evaluate the grading of loans in the event of material changes in the borrower’s performance or the value of the collateral;
(d) procedures to evaluate the grading of all loans assigned less than a pass grade at least quarterly;
(e) designation of the person(s) responsible for the grading of loans;
(f) controls to ensure staff’s consistent application and adherence to the loan grading system; and
(g) a mechanism for reporting to senior management and the board of directors, at least monthly, that at a minimum: summarizes the Bank’s loan grades; describes trends in asset quality; identifies the loans that are nonperforming, adversely graded, or identified as needing special attention; describes the status of those loans; and describes the actions taken, or to be taken, by management for strengthening of the quality of any such loans.
10. Within 30 days of this Agreement, the Bank shall submit to the Reserve Bank and the Division an acceptable written program for the effective, ongoing review of the Bank’s loan portfolio by a qualified independent party or by qualified staff that is independent of the Bank’s lending function. The program shall provide for policies and procedures for the timely identification and categorization of problem loans, and processes to detect weaknesses in the Bank’s loan approval, monitoring, and grading process. The program shall, at a minimum, address, consider, and include:
(a) The scope, depth, and frequency of the independent loan review;
(b) clearly defined responsibilities for the loan review function; and [Page Break]
Page 9
(c) an objective and timely assessment of the overall quality of the loan portfolio and the accuracy of assigned loan grades.
11. The board of directors, or a committee thereof, shall evaluate the loan review report(s) and take appropriate steps to ensure that management takes prompt action to address findings noted in the report(s).
Asset Improvement
12. 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 or in any subsequent report of examination, 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 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 [Page Break]
Page 10
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.
13. (a) Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Division an acceptable written plan designed to improve the Bank’s position through repayment, amortization, liquidation, additional collateral, or other means on each loan or other asset in excess of $250,000, including other real estate owned (“OREO”), that (i) is past due as to principal or interest more than 90 days as of the date of this Agreement; (ii) is on the Bank’s problem loan list; or (iii) was adversely classified in the Report of Examination.
(b) Within 30 days of the date that any additional loan or other 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 Division an acceptable written plan to improve the Bank’s position on such loan 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 Division 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 [Page Break]
Page 11
renewals and extensions without full collection of interest in the last quarter, and past
due/non-accrual report.
Allowance for Loan and Lease Losses
14. (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 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 Division.
(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 Division. 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 collectibility.
(c) Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Division an acceptable written program for the maintenance of an [Page Break]
Page 12
adequate ALLL. The program shall include policies and procedures to ensure adherence to the 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 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 Division, 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 ALLL for that quarter. Capital Plan
15. Within 60 days of this Agreement, RMC and the Bank shall jointly submit to the Reserve Bank and the Division an acceptable written plan to maintain sufficient capital at the Bank. The plan shall, at a minimum, address, consider, and include the Bank’s current and future capital requirements, including:
(a) 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);
(b) the adequacy of the Bank’s capital, taking into account the volume of classified credits, concentrations of credit, ALLL, current and projected asset growth, and projected retained earnings; [Page Break]
Page 13
(c) the source and timing of additional funds to fulfill the Bank’s future capital requirements and loan loss reserve needs; and
(d) the requirements of section 225.4(a) of Regulation Y of the Board of Governors (12 C.F.R. § 225.4(a)) that RMC serve as a source of strength to the Bank.
16. RMC and the Bank shall notify the Reserve Bank and the Division, in writing, no more than 30 days after the end of any quarter in which any of the Bank’s capital ratios (total risk-based, Tier 1 risk-based, or leverage) fall below the approved capital plan’s minimum ratios. Together with the notification, RMC and the Bank shall submit an acceptable written plan that details the steps RMC and the Bank will take to increase the Bank’s capital ratios to or above the approved capital plan’s minimums. Earnings Plan and Budget
17. (a) Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Division a written business plan for 2011 to improve the Bank’s earnings and overall condition. The plan, at a minimum, shall provide for or describe:
(i) a realistic and comprehensive revised budget for calendar year 2011, including income statement and balance sheet projections;
(ii) a description of the operating assumptions that form the basis for, and adequately support, major projected income, expense, and balance sheet components;
(iii) a fully funded ALLL; and
(iv) a budget review process that analyzes and reports budgeted versus actual income and expense performance. [Page Break]
Page 14
(b) Upon adoption, the Bank shall implement the business plan. Bank management shall report monthly to the Bank’s board of directors on progress made implementing the business plan. The written monthly report shall compare actual financial results to those projected in the business plan. In the event that revisions to the plan are necessary, such revisions shall be forwarded to the Reserve Bank and the Division within 15 days of adoption.
(c) A business plan and budget for each calendar year subsequent to 2011 shall be submitted to the Reserve Bank and the Division at least 30 days prior to the beginning of that calendar year.
Liquidity and Funds Management
18. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Division an acceptable written plan designed to enhance management of the Bank’s liquidity position. The plan shall, at a minimum, address, consider, and include:
(a) Measures to enhance the monitoring and reporting of the Bank’s liquidity position to the board of directors;
(b) measures to diversify funding sources;
(c) a timetable to reduce reliance on short-term wholesale funding, including brokered deposits, and
(d) specific liquidity targets and parameters and the maintenance of sufficient liquidity to meet contractual obligations and unanticipated demands.
19. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Division an acceptable revised written contingency funding plan that, at a [Page Break]
Page 15
minimum, identifies available sources of liquidity and includes adverse scenario
planning.
Internal Audit
20. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Division an acceptable written internal audit program that is suitable to the Bank’s risk profile. The program shall, at a minimum, address, consider, and include:
(a) Policies and procedures to provide appropriate independence of the internal audit function, including measures to ensure that the internal auditor: (i) functionally reports to the audit committee and (ii) has access to present findings directly to the audit committee;
(b) procedures to ensure (i) audit findings are reported to the audit committee and the board of directors in a timely manner, (ii) management addresses all audit findings in a timely manner, and (iii) required responses are monitored appropriately;
(c) measures to ensure the audit committee maintains detailed minutes of meetings which reflect all discussion related to audit findings; and
(d) establishment of an appropriate audit schedule, which includes, but is not limited to, routine audits of: (i) compliance with laws and regulations, (ii) incentive compensation plans, and (iii) activities of RMC and its subsidiaries.
Regulatory Reports
21. RMC and the Bank shall immediately take steps to ensure that all required regulatory reports filed with the Federal Reserve and the Federal Financial Institutions [Page Break]
Page 16
Examination Council accurately reflect RMC’s and the Bank’s financial condition and are filed in accordance with the applicable instructions for preparation. Cash Flow Projections
22. Within 60 days of this Agreement, RMC shall submit to the Reserve Bank a written statement of planned sources and uses of cash for debt service, operating expenses, and other purposes (“Cash Flow Projection”) for 2011. RMC shall submit to the Reserve Bank a Cash Flow Projection for each calendar year subsequent to 2011 at least one month prior to the beginning of that calendar year.
Dividends and Distributions
23. (a) 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 the Division.
(b) RMC shall not declare or pay any dividends without the prior written approval of the Reserve Bank and the Director.
(c) RMC shall not take any other form of payment representing a reduction in capital from the Bank without the prior written approval of the Reserve Bank.
(d) RMC and its nonbank subsidiary 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.
(e) All requests for prior 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 [Page Break]
Page 17
contain, at a minimum, current and projected information, as appropriate, on the RMC’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, RMC 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 Companies, dated November 14, 1985 (Federal Reserve Regulatory Service, 4-877 at page 4-323). Debt and Stock Redemption
24. (a) RMC and its nonbank subsidiary, shall not, directly or indirectly, incur, increase, or guarantee any debt without the prior written approval of the Reserve Bank. 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) RMC shall not, directly or indirectly, purchase or redeem any shares of its stock without the prior written approval of the Reserve Bank. Affiliate Transactions
25. 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 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. [Page Break]
Page 18
26. (a) RMC shall take all necessary actions to ensure that the Bank complies with sections 23A and 23B of the Federal Reserve Act and Regulation W of the Board of Governors in all transactions between the Bank and its affiliates, including but not limited to RMC and its nonbank subsidiaries.
(b) RMC 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.
27. Prior to entering into any contractual or fee arrangement with an affiliate for the reimbursement of expenses related to the use or provision of services, property, or otherwise, the Bank’s board of directors shall adopt a fee arrangement policy to ensure that the arrangement complies with Regulation W and make such policy available for supervisory review.
Compliance Program
28. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Division an acceptable written compliance program designed to ensure compliance with all applicable federal and state laws, regulations, and supervisory requirements. Pursuant to the program, the directors and officers of the Bank shall familiarize themselves with applicable provisions of federal and state laws and regulations and with this Agreement. The program shall, at a minimum, address, consider, and include:
(a) The appointment of a compliance officer responsible for coordinating and monitoring compliance at the Bank;
(b) comprehensive compliance policies and procedures; [Page Break]
Page 19
(c) a plan for monitoring and testing compliance;
(d) a process for resolving or escalating outstanding issues;
(e) work paper documentation standards; and
(f) a compliance training program for Bank staff.
Compliance with Laws and Regulations
29. 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, RMC 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 (12 C.F.R. §§ 225.71 et seq.).
30. RMC 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
31. (a) Within 10 days of this Agreement, RMC’s and the Bank’s boards of directors shall appoint a joint compliance committee (the “Compliance Committee”) to monitor and coordinate RMC’s and the Bank’s compliance with the provisions of this Agreement. The Compliance Committee shall include outside directors who are not executive officers or principal shareholders of RMC 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)). At a minimum, the Compliance Committee shall meet at least monthly, keep detailed minutes of each meeting, and report its findings to the boards of directors of RMC and the Bank. [Page Break]
Page 20
(b) Within 30 days after the end of each calendar quarter following the date of this Agreement, RMC and the Bank shall submit to the Reserve Bank and the Division 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, Policies, Procedures, and Programs
32. (a) The Bank shall submit written plans, policies, procedures, and programs that are acceptable to the Reserve Bank and the Division within the applicable time periods set forth in paragraphs 4, 7, 8, 9, 10, 13(a), 13(b), 14(c), 15, 16, 18, 19, 20, and 28 of this Agreement.
(b) Within 10 days of approval by the Reserve Bank and the Division, the Bank shall adopt the approved plans, policies, procedures, and programs. Upon adoption, the Bank shall promptly implement the approved plans, policies, procedures, and programs and thereafter fully comply with them.
(c) During the term of this Agreement, the approved plans, policies, procedures, and programs shall not be amended or rescinded without the prior written approval of the Reserve Bank and the Division.
Communications
33. All communications regarding this Agreement shall be sent to:
(a) Ms. Susan E. Zubradt Vice President
Federal Reserve Bank of Kansas City
1 Memorial Drive
Kansas City, Missouri 64198 [Page Break]
Page 21
(b) Mr. Jeffrey C. Vogel Commissioner
Wyoming Department of Audit Division of Banking Herschler Building, 3rd Floor East 122 West 25th Street Cheyenne, Wyoming 82002
(c) Mr. Terry Earley President/CEO
Rocky Mountain Capital/ Rocky Mountain Bank 4050 West Lake Creek Drive P.O. Box 938 Jackson, Wyoming 83001
Miscellaneous
34. Notwithstanding any provision of this Agreement, the Reserve Bank and the Division may, in their sole discretion, grant written extensions of time to RMC and the Bank to comply with any provision of this Agreement.
35. The provisions of this Agreement shall be binding upon RMC, the Bank, and their institution-affiliated parties, in their capacities as such, and their successors and assigns.
36. Each provision of this Agreement shall remain effective and enforceable until stayed, modified, terminated, or suspended in writing by the Reserve Bank and the Division.
37. The provisions of this Agreement shall not bar, estop, or otherwise prevent the Board of Governors, the Reserve Bank, the Division, or any other federal or state agency from taking any other action affecting RMC, the Bank, any nonbank subsidiary of RMC, or any of their current or former institution-affiliated parties and their successors and assigns. [Page Break]
Page 22
38. 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 20th day of January, 2011.
ROCKY MOUNTAIN CAPITAL
Signed by Kevin Wilson Chairman
FEDERAL RESERVE BANK OF KANSAS CITY
Signed by Susan E. Zubradt Vice President
ROCKY MOUNTAIN BANK
Signed by Kevin Wilson Chairman
WYOMING DEPARTMENT OF AUDIT – DIVISION OF BANKING
Signed by Jeffrey C. Vogel Commissioner

Golden Bank Houston Texas

July 14, 2011

Golden Bank?

Can’t make this up

Golden Bank, Houston Texas was founded in 1988.  The company is on the problem bank list.

Assets are $531MM with  equity of $65MM.

The problem loan portfolio is $53MM.

With $65MM in equity and $53MM in bad loans, this place will soon be insolvent.

How about shutting this disaster down.

Do you have money here?

Golden, is the one thing this place is not.

How about a golden shower?

Community Commerce Bank Claremont California

July 14, 2011

Do you money with William Lasher?

This thing is bankrupt

 

 

Community Commerce Bank, Claremont California was founded in 1976.  The company is on the problem bank list, for weakness in management, capital, liquidity and earnings.  The Texas ratio is 49%.

Assets are $349MM with equity of $38MM.

The problem loan portfolio is $32MM.

With $32MM in problem loans and $38MM in equity, this place is probably insolvent.

Why isn’t this bank closed down?

It is pretty scary, when the first thing you see on the website is the properties they have for sale.

This place looks more like a real estate company than a bank.

William Lasher, the CEO, has done a good job of running this place into the ground.

Do you have money in this place?

>

Shelby County Bank Shelbyville Indiana

July 14, 2011

This is they guy that should be running this disaster

Shelby County Bank, Shelbyville Indiana was founded in 1891. The company took $5MM in tax payer funded bailout money, which it won’t pay back.   The company has a Texas ratio of 100%, but is not on the problem bank list?

Assets are $238MM with $10MM in supposed equity.

The actual equity is $5MM, as the $5MM in bailout money,  is debt not preferred stock.

The problem loan portfolio is $13MM.

With $13MM in problem loans and $5MM in equity, this bank is bankrupt.

This place is insolvent and can’t even make it on the problem loan list.

Net income was ($1MM) in FY10 and ($1.4MM) in FY09.

How are they going to pay back the $5MM to the tax payer.  They can’t.

Do you have money in this bankrupt disaster?

Withdraw your money from this place.

The government is using your money, to prop up this bankrupt entity.

First State Bank Gothenburg Nebraska

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?

Highlands State Bank Vernon New Jersey

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.

Covenant Bank Clarksdale Mississippi

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.

Huntington State Bank Huntington Texas

July 13, 2011

How about this guy as CEO, he is Huntington for work

Check out his portfolio

 

Huntington State Bank, Huntington Texas was founded in 1961.  The Texas ratio is 49%.

Assets are $262MM with equity of $19MM.

The problem loan portfolio is $16MM.

With $16MM in problem loans and $19MM in equity, this place deserves a spot on the problem bank list.

This bank is technically insolvent.

National Bank of Kansas City Overland Park Kansas

July 13, 2011

 

National Bank of Kansas City Overland Park Kansas as founded 1996.  The company is on the problem bank list.  They Texas ratio is 70%,

Assets are $635MM with equity of $57MM.

The problem loan portfolio is $57MM.

So, they have $57MM in problem loans and $57MM in equity.

This bank is probably technically insolvent.

Brian Unruh is the CEO, he did a good job at running this place into the ground.

Idaho Banking Company Boise Idaho

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?

First National Bank of the Rockies Grand Junction Colorado

July 13, 2011


Check out the new site

capital2risk.com

Peter Waller has done a fine job at destroying a 127 year old bank

I guess he has been engaging in hazardous commercial real estate lending

He didn’t get this place on the problem bank list for nothing

First National Bank of the Rockies, Grand Junction Colorado was founded in 1904.  The company is on the problem bank list, for hazardous commercial real estate lending.  The Texas ratio is 68%.

Assets are $323MM with equity of $24MM.

The problem loan portfolio is impressive.  They have $27MM in problem loans.  There are $13MM in construction loans on non accrual, this alone could wipe them out.

With $27MM in problem loans and $24MM inequity, this place is technically insolvent.

When is this place going to be closed down.

Peter Waller, CEO, did an admirable job of bankrupting a 127 year old financial institution.

The bank survived the Great Depression but it couldn’t survive Peter Waller.

Is this your bank?

Head for the hills or the desert.

Highland Bank St. Michael Minnesota

July 13, 2011

St. Michael is praying for these bankrupt sluts

They might be on the problem bank list but who can wrong with a bankrupt slut

Highland Bank, St. Michael Minnesota was founded in 1943.  The company is on the problem bank list.  Maybe that is why the Texas ratio is 76%.

Assets are $466MM with equity of $32MM.

The problem loan portfolio is $37MM.

Having $37MM in problem loans with $32MM in equity, is making this place look bankrupt.

Why is this thing not shut down.

The website won’t tell you who the CEO is. I can tell you one thing, he ran a 68 year old bank into the ground.

Highland Bank? These cats were pretty high when they were making  these loans.

Pray to St. Michael.

He is patron saint of St. Of Si$&*tty loans

Eastern National Bank Miami Florida

July 13, 2011

Founded back in 1969

Eastern National Bank, Miami Florida was founded in 1969.  The Texas ratio is 57%.

Assets are $427MM, with equity of $35MM.

The problem loan portfolio is $33MM.

Having $33MM in problem loans with only $35MM, is not a good situation.

This place is insolvent.

Why aren’t they on the problem loan list?

Is this your bank?

NBRS Financial Rising Sun Maryland

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

Liberty Bank South San Francisco California

July 13, 2011

Which guy is Larry Woods?

Liberty Bank, South San Francisco California was founded in 1982.  The Texas ratio is 63%, for some reason, they are not on the problem bank list.

Assets are $220MM and $22MM in equity.

The problem loan portfolio is $26MM.

With $26MM in problem loans and $22MM in equity, this place should be on the problem bank list.

This bank is probably technically solvent.

Why isn’t this bank shut down?

Then again, why aren’t they on the problem bank list?

Do you think they have problems?

Larry Woods, the CEO, did a good job racking up high levels of bad loans and running this place into the ground.

Do you have you money in this disaster?

Give me liberty or give me Larry Woods.

Liberty means free in Latin, when the government shuts this place down, it won’t be free for the tax payer.

Sevier County Bank Sevierville Tennessee

July 13, 2011

If you are running this disaster you should jump

$75MM in bad loans and $32MM in equity, you are f$%cked

Sevier County Bank, Sevierville Tennessee was founded in 1909.  The company is on the problem bank list.  That might explain why the Texas ratio is 163%.

Assets are $354MM with equity of $32MM.

The problem loan portfolio is $74MM.

Hold on, they have $74MM in problem loans with $32MM in equity.

This place is bankrupt, why is it still open.

Take a look at the website, they won’t tell you who the CEO is.

River City Bank Rome Georgia

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.


Follow

Get every new post delivered to your Inbox.