Alpine Bank Glenwood Springs, CO

J Robert Young where is the $63MM you took, it is probably in your pocket?

Alpine Dank Glenwood Springs, CO was founded in 1934.  The company took $63MM in tax payer bailout funding which it has neglected to repay.  The Texas ratio is 41%.  This could be the worst bank in Colorado.

They should hire this guy as CEO, he has figured out

This mortgage broker, doesn’t have a mortgage license, he does have a medical marijuana license

You can find this guy here

 

The company has $1.8B in assets with a $1B in loans and $209MM in equity.

The bank has $23MM in loans past due 30-90 days, with $86MM on non accrual and $28MM in OREO.

The stated equity was $209MM however, the $63MM in tax payer debt they have chosen not to repay, is actually debt not equity.  The actual equity is $146MM.

They have $109MM in bad debt supported by $146MM in equity.

This bank is probably technically insolvent

Net income was ($48MM) in FY10.

How are they going to pay back the $63MM, owed to the tax payer?

The question is why aren’t they on the problem bank list?

Who was making these loans Hunter S .

This place is Gonzo

Fear and loathing, if you are sitting on this portfolio.

The spring runoff is going to take this thing into Lake Powell.

Hopefully you don’t have your money in this debacle.

No use suing a dispensary, your problem loan portfolio is looking Dank?

Maybe this is part of their “green” initiative.

Dank is not paying the tax payer back the $63MM you took.

Do you have money in this bank, they are bankrupt.

Check the website out, they won’t even tell you who the management team is.

Who runs this place?

This thing should be converted to a dispensary, maybe they would make money.

J . Robert Young inducted into the Colorado business hall of shame, for stealing $63MM of your tax payer money.

J. Robert Young, where is the $63MM you stole from the tax payer, this clown should be in jail!

.

This bank has not even paid interest on these funds in over year

Central Pacific Financial Honolulu Hawaii

This is John Dean, the CEO, he took $132 of you money

John hasn’t even paid interest on the money since 5/09

He also got the bank on the problem bank list

John you lost $718MM over the last 3 years, holy s$$t, you wiped out 700% of the equity

John got paid $566k for wiping this place, not bad

Central Pacific Financial Honolulu, Hawaii was founded in 1954.  The company took $132MM in tax payer bailout funding, which it has neglected to repay.  In addition, it has failed to make interest payments on this debt since 5/09.  The bank has entered into a written agreement with the FDIC for unsound lending practices.  They were also cited for these practices in 2006.  This has allowed them to become a member of the problem bank list.  They have a Texas ratio of 79%, which makes them probably the worst bank in the state.

The company has $3.9B in assets with $2B loans and $196MM in equity.

The problem loan portfolio consists of $16MM in loans that are 30-90 days past due, get this they have $300MM that are on non accrual and $57MM in OREO.

Besides being pretty good at making bad loans, these guys are really good at losing money.  Net income was ($259MM) in FY10, ($321MM) in FY09 and ($138MM) in FY08.  Wow, they lost $718MM in just 3 years.

So, they owe the tax payer $132MM, and how are they going to pay this back?

These group is stellar at destroying equity.  The equity position went from $526MM in FY08 down to $66MM in FY10, that is a 700% decline.  That takes a lot of effort, to wipe out the entire equity base in only 3 years.  This team was able to destroy a 57 year firm in 3 years!

Though the stated equity is $66MM, the $132MM they owe the tax payer is debt not equity.  That would leave the equity position at ($66MM).  They have ($66MM) in equity backing $316MM in distressed debt?

This place is bankrupt, why hasn’t the FDIC shut this bank down?

This bank is insolvent!

At least the executive compensation hasn’t been impacted.

John Dean  made $566K

Ronald Migita  made $360K

Dean Hirata made $360K

Catherine Ngo   made $360K

Blenn Fugimoto  earned $261K

The market capitalization was $23MM, not bad for having a negative equity position.

United Community Bancshares Blairsville Georgia

Jimmy Tallent, the CEO took $180MM in bailout money

Jimmy hasn’t paid interest on these funds since 11/10

Jimmy you lost $647MM over the last 3 years, you  got talent

Jimmy how are you to pay $180MM back?

Jimmy got paid $1.4MM to wipe this place out

United Community Bancshares Blairsville, GA was founded in 1950.  The company took $180MM in tax payer money, which it has neglected to pay back.   As a matter of fact, they haven’t even made a dividend payment on these funds since 11/10.  The question is why isn’t this company on the problem bank list?

They have assets of $7B, with equity of $635MM.

The problem loan portfolio is staggering.  They have $53MM in loans past due 30-90 days, with $106MM on non accrual and get this, $174MM in OREO.

They are also adept at losing money.  Net income was ($345MM) in FY10, ($238MM) in FY08 and ($64MM) in FY08.

By the way, they also lost $142MM in Q1 2011!

This allowed them to wipe out 64% of the equity in 3 years.

How are they going to pay the $180MM in tax payer funding back?

Though the stated equity it $635MM, the funds owed to the tax payer is debt not equity, equity is $455MM.  They have $455MM backing $333MM in bad loans, this place is technically insolvent.  Why hasn’t the government shut them down, then again, I am thinking they should probably on the problem bank list?

Fortunately, the executive pay was not impacted.

Jimmy Tallent   made $1.4M

Guy Freedman   made $259K

Rex Schuette    made $379K

Glenn White      made $350K

Jimmy’s got a talent for losing money.

International Bancshares Laredo Texas

This Dennis Nixon CEO, he took $192MM in bailout funding

Dennis makes $1.2MM per year

International Bancshares Laredo, Tx was founded in 1966.  The bank took $192MM in tax payer funding which, they have neglected to repay.

The company has assets of $9B, with loans of $4B and equity of $1B.

The problem loan portfolio consists of $15MM that are 30-90 days past due, with $90MM on non accrual and $80MM in OREO.

Net income was $116MM in FY10, $129MM in FY09 and $132MM in FY08.  So, why can’t the pay the tax payer funding get paid back?

Maybe the government is not getting repaid but at least the executives are!

Dennis Nixon     made  $1.2MM

David Guerra    made    $321K

Imelda Navarro made $320K

May be with $185MM in bad loans and $196MM owed to the government, the equity position is not as strong as it stated?

Citizens Republic Bank Flint MI

This is Kathleen Nash

She took $300,000,000 of your tax payer money and has not made any effort to even pay interest since 2009

She makes $1,300,000, a year including a country club membership, probably not a bad salary for Flint

F$$cking Kathleen won’t even pay interest on the money she stole from the tax payer

Kathleen, I guess it proves that is not just fat white guys that can wipe out banks

She runs one of the worst banks in the country

She is one hot looking bankster

Citizens Republic Bank Flint, MI was founded in 1871.  The bank accepted $300MM in tax payer funded bailout money, non of which has been repaid.  They also have chosen not to make any interest payments on these funds since 11/09.  I guess if you are a bank you don’t to pay any interest on tax payer debt, why does the tax payer have to pay interest on it’s bank debt?  They are also on the problem bank list.

The Moody’s rating is Ba3 negative; D-1 Ba3 negative, making it one of the worst banks in the country.

Well, doing a 1-10 reverse stock is always a positive sign, they wiped out the investors again.

Cathleen Nash made $1.3MM which is not probably not a bad salary in Flint, MI.  Then again, you stole $300MM in tax payer money, which you have decided to not pay back.

The company has assets of $9.7B with $6B in loans and $1B in equity.

The problem loan portfolio consists $55MM in loans 30-90 days past due, with $196MM on non accrual and $40MM in OREO.

Here is Lisa the CFO she makes $544,000

Not only is bank good at making bad loans, they excel at losing money!  Net income was ($314MM) in FY10, ($533MM) in FY09 and ($405MM) in FY08.  They were able to lose $1.2B in the last three years alone.  They lost another $67MM in Q1 2011.  At this rate maybe they can bankrupt this thing by year end.

This performance allowed them to wipe out 58% of the equity, in 3 years.

The equity position is abysmal. The stated equity is $1B however, there is $318MM in goodwill, leaving equity of $682MM.  The $300M tax payer funding is not equity, it is debt that needs to be paid back.  The resulting equity position is $382MM.  The company has at least $250MM in bad loans.

This bank is probably technically insolvent, how come they haven’t been shut down, or at least put on the problem bank list, because believe me this place has problems!

At least the executive compensation hasn’t been impacted.  These people got paid well to lose a $1B.

Cathleen Nash          made   $1.3MM

Lisa McNeely           made      $544K

Mark Widowski       made      $500K

Judith Klawinski   made        $480K

Charles Christy      made       $232K

Thomas Gallagher made      $409K

It should be noted that this compensation includes country club fees.  Hopefully, the $300MM in tax payer funding is being used to pay the country club fees.  These people need to relax at the club, it is stressful losing that much money.

The market capitalization is $361MM, 33% of book.  That is actually pretty rich for this bankrupt entity.

They lost another $68MM in Q1, again, how are the going to pay the $300MM back?

Maybe they can at least use some of the country club fees to make interest payments?

Cathleen Nash gets paid pretty well for destroying a 140 year old institution.

Do you have money in this bankrupt disaster?

Don’t worry it is insured by the FDIC, hold on they are bankrupt also.

So this company pays Cathleen Nash $1.3MM to lose $1.2B

Check out the shareholder meeting in May, they are going to reinstate dividend payments. They just don’t tell you when.

At least the country club fees are paid by the tax payer.

They stated that they want to repay TAARP by 2014.  How, you lost a $1B, how are you going to pay back $300MM.

They are working on expense management?

How about getting rid of Kathleen Nash and her team that destroyed this company, or at least stop having the taxpayer fund their country club fees.

Kathleen Nash makes $625 an hour to lose $1.B, what is the average wage in Flint?

She steals more in an hour than the average person makes in a week.

This disaster is being propped up with tax payer money

First Midwest Bank Itasca Ilinois

This is Michael Scudder, the CEO, he took $193MM in bailout funding

The bank lost $19MM last year, how are they going to pay back $193M

Michael made $1.7MM last year

First Midwest Bank Itasca, Ill has excepted $193MM in tax payer bailout funding, which it has made no effort to pay back.

The company has assets of $8B with equity of $1B.

Net income was ($19M) in FY10. At that rate, it might take awhile to pay the tax payer back the $193MM.

At least the executive compensation was not hurt.

Michael Scudder    made $1.7MM

Thomas Schwartz    made $1.1MM

Paul Clemens          made $579K

Victor Carapella     made $663K

Maybe they used the $193MM to pay the executive salaries?

Zion’s Bancorp Salt Lake City, UT

Zion’s BankCorp Salt Lake City, UT was founded in 1873.  They have taken $1B  in tax payer bailout funding which, they have chosen not to back.  This might be due to staggering loses they are experiencing.

The company has $51B in assets with $6.5M in equity.

Problem loans consist of $147M in loans past due 30-90 days, with $538 on non accrual and $91 of OREO.

The bank generated phenomenal losses in the past 3 years.  Net income was ($42MM) in FY10, ($1,234MM) in FY09 and ($290MM) in FY08.

Based on this stellar performance, how are they going to pay the tax payer’s $1b back?

The stated equity is $6.5B however, there is $1B in goodwill.  Also, the tax payer bailout funding isn’t it is debt.  So the actually equity position $4.5B

At least the executive pay hasn’t been effected!

Harris Simmons made $1.8MM

Doyle Arnold   made $1MM

Kenneth Petersen  made $1.9MM

Scott Anderson made $1MM

David Blackford made $1MM

That’s pretty good pay for losing $1.5M over the last 3 years.  How much would they get paid if they actually made money?

I would hate to see their tithing statements.

First Banks Creve Couer Missouri

This Terrance McCarthy, CEO, he took $295MM in tax payer money

Terrance you lost $824MM over the last 3 years, how are you going to pay back $295MM?

Terrance your bank is on the problem bank list

You have $496MM in problem loans

Terrance makes $500k a year for this performance

First Banks Crouer, MO was founded in 1906.  The company took $295MM in tax payer funded bailout money, which it has made no effort to pay back.  After recieving this funding, the company has only made one dividend payment back in May 2009.  The company is on the problem bank list, as it entered into a written agreement with the Fed on 4/1/10 for unsound banking practices.  Maybe the Fed should put this agreement in place before they gave them $295MM, which they can’t pay back.

The company has $7.3B in assets with $4.3B in loans and $693MM in equity.

The problem loans are staggering.  There are $103MM in loans past due 30-90 days, get this, there are $444MM on non accrual and $140MM in OREO.  These problem loans should be enough to wipe out the remaining equity.

Hold on, this group mastered the art at losing money.  Check this out, net income was ($178MM) in FY10, ($405MM) in FY09 and ($241MM) in FY08.  These guys doesn’t mess around, $841MM in losses in 3 years, that takes effort.

This allowed them to destroy 90% of the equity

Though the stated equity is $693MM, when you back out the $295MM in tax payer bailout funding which is debt not equity, the actual equity is $400MM.  However, they have $589MM in problem loans supported by $400MM in equity, that is a scary proposition.

This place is bankrupt, why hasn’t the regulators shut them down.  There is no way in hell the government is getting the $295MM back, they can’t even make a dividend payment.

This is a third generation bank? It looks like James Dierberg was successful at running this 100 year old institution into the ground!

James Dierburg              made $144K

Terrance McCarthy      made $500K

Lisa Vansicle                     made $230K

Christopher McLauglin made$250K

First Place Financial Corp. Warren Ohio

Steven Lewis, left, took $65MM in TAARP money

Steven you lost $38MM over the last 2 years, how are you going to pay back $65MM?

Steven got paid $381k

Don’t worry, he wiped the stock holders out also, the stock is de listed and selling for a 11% of book

First Place Financial Corp. Warren, Ohio was founded in 1949.  The bank took $65MM in tax payer bailout funding, which it has neglected to pay back.

The company has assets of $3.1B, loans of $2B and equity of $267MM.

The problem loan portfolio consists of $43MM in 30-90 day past due loans, there are $107MM on non accrual with $30MM in OREO.

Net income was ($26MM) in FY10 and ($12MM) in FY09.

Based on the recent financial performance, it is difficult to tell how the company will be able to pay back the $65MM to the tax payer.

If the $65MM in bailout funding is backed out of the equity base, as it is actually debt not equity.  The actual equity position would be $202M.  With $150MM in bad debt, the equity position could easily be wiped.

Why isn’t this company on the bad bank list?

This place appears to be technically insolvent.

Luckily, the executive compensation has not been effected.

Steven Lewis         made $381K

David Gifford         made $199K

Albert Blank            made $277K

Kenton Thompson earned $231K

That is pretty good pay for a management team that has wiped out 30% of the company’s equity over the last 3 years.

Steven Lewis is in first place making $381MM, getting $65MM in tax payer funding and not paying it back, as well as losing $89MM in 2 years, racking up $150MM in bad loans, while wiping out a 62 year old bank. Now this guy is in first place!

The stock is in the process of being delisted.

The market capitalization is $29MM, that’s 11% of book.  The investors have about as much confidence in this group, as the tax payer does in getting repaid.

For some reason, I am thinking this company is not in first place!

Do you have money in this bank?

Cathay Bancorp. Los Angeles, CA

Cathay Bank Los Angeles, CA was founded in 1962.  The company took $220MM in tax payer funded bailout money, none of which has been paid back.

The company has assets of $10B, with $6B in loans and $1.5B in equity.

Problem loans consist of $78MM in loans 30-90 days past due,with $288MM on non accrual and $77MM in OREO.

The company had NI of $14MM in FY10 and ($61MM) in FY09.

Based on recent financial performance, it is unclear how many years it will take for the company to repay the tax payer.

Fortunately, the executive compensation was not effected.

Dunson Cheng    made $1MM

Peter Wu               made $444K

Anthony Wang   made $319K

Irwin Wong        was paid $252K.

Based on their return to profitability, it is unclear why the bank has made no attempt to pay back the tax payer funding.

Plains Capital Corp Lubbuck Texas

This Allen White, he took $82MM in TAARP

Allen made $3.3MM last year including a country membership

Is this guy a fat cat banker or what

 

Plains Capital Corp. Lubbock, TX was founded in 1955.  It took $82MM in tax payer funded bailout money, which it has made no effort to pay back.

The company has $5.2B in assets with $3.5B in loans and $592MM in equity.

Problem loans consist of $23MM in 30-90 day past due loans, with $124MM on non accrual and $23MM in OREO.

NI was $50M in FY10 and $48MM in FY09.

It is unclear why they have made no effort to pay back the tax payer.

At least the executive compensation remains strong.

Allen White       made $3.3MM

Allen Custard   earned $592K

John Martin      was paid $174K

Hill Feinberg     made $1.4M

Roseanna McGill  made $1MM

Jeffrey Schaffer made $1.1MM

James Huffines  was paid $1.1M

The compensation includes car allowances and country club fees.  These people pay the country club fees but can’t pay back the government!

Los Alamos National Bank Los Alamos NM

This William Enloe, he took $37MM in TAARP money

His bank is on the problem bank list

William makes $384K

Los Alamos National Bank Los Alamos, NM was founded in 1963.  The company took $37MM in tax payer bailout funding which it has failed to repay.  The bank is also on the problem bank list as it entered into a formal agreement with the OCC on 11/26/10 for unsound lending practices.  The Texas ratio is 38%.

The company has $1.5B in assets with $1.1B in loans and $155MM in equity.

The problem loan portfolio consists of $13MM in loans that are 30-90 days past due, with $50MM in non accrual loans and $21MM in OREO.

The equity position appears strained.  If the $37MM in tax payer bailout funds are backed out of the equity base, as this is debt which needs to be paid back not equity.  The actual equity is $118MM, with problem loans of $60MM-$80MM, the equity base could quickly be wiped out.

It is unclear on how long it will take to pay back the $37MM in tax payer funding based on the recent financial performance.

The good news is the executive compensation hasn’t been effected.

William Enloe                   made $384K

Steven Wells                     was paid $263K

Daniel Bartholomew     earned $169K

This problem debt  is a ticking A bomb

Do you have money in this place, you might want to look for a bomb shelter.

So how does William Enloe get paid and the tax payer doesn’t?

As he has been involved in unsound lending practices.

First Financial Savings and Loan Charleston South Carolina

This Thomas Hood, he took $57MM in TAARP

Thomas racked up $229MM in problem loans

Thomas makes $354k

First Financial Savings and Loan Charleston, SC was founded in 1934.  The bank has taken $57MM in tax payer bailout funding, which it has yet to repay.  The Texas ratio is 47%.

The company has $3.25B in assets, $2.5B in loans and $284MM in equity.

The problem loan portfolio consists of $39MM in loans 30-90 days past due, with $190MM in non accrual and $21MM in OREO.

Net income was ($29MM) in FY10.

The stated equity position is $284MM however, the $57MM in tax payer funding is actually debt, when this is backed out of the equity position, equity is actually $227MM.    As the company has $229MM in problem loans, supported by only $227MM in equity, the equity position could quickly become deleted.

This place could be effectively insolvent based on the problem loans in relation to the equity position.

It is unclear how the tax payer funded loan will be repaid, based on recent financial performance.

Fortunately, the executive compensation has not been impacted.

Wayne Hall               made $293K

Blaise Bettendorf   was paid $153K

Thomas Hood           made $354K

Richard Arthur       earned $276K

James Hall                made $272K

The market capitalization is $189MM.

Cascade Financial Corporation Everett Washington

 

This is Carol Nelson, she took $37MM bailout money

Carol hasn’t even paid interest on this money since 8/09

Carol also got this on the problem bank list

Carol, you lost $97MM in the last 2 years, how are you going to pay back the $37MM?

She eroded the capitalization by 176% in 3 years, talk about a cascade

Carol makes $274k a year

 

Cascade Financial Corp. Everett, WA was founded in 1916.  The company took $37MM in tax payer funding that it has made no effort to pay back.  Then again, they have only made 2 dividend payments, that last of which was 8/09.  The company is on the problem bank list as it entered into a consent agreement with the FDIC on 7/15/10.  Maybe the regulators should have done this before they gave them $37MM. The Texas ratio is 76% one of the highest in the state.

The company has $1.5B in assets with $967M in loans and $58MM in equity.

The problem loans consist of $3MM  in past due loans 30-90 days, non accrual were $70MM with OREO of $34MM.

Net income is stellar at ($25MM) in FY09 and ($72MM) in FY10.  Cascading is what these earnings are doing.

The stated equity position of $58MM is incorrect.  The actual equity is approximately $21MM.  When you back out the tax payer bailout of $37MM, as this is debt not preferred stock, the capital base erodes.  Effectively they have $21MM in equity supporting $73MM in problems loans.

This place looks insolvent, how are they going to pay the $37MM in tax payer funds back?

At least the executive compensation hasn’t suffered.

Carol Nelson  made $274K

Steven Erickson   made $126K

Robert Pisotell made $156K

These people get paid pretty well to lose money.

These guys were able to erode the equity base from $160MM in FY08 to $58MM in FY10, that is a 176% decline, not bad for 3 years.

Colorado Business Bank Denver Colorado

That is Steven Bangert on the left, he took $64MM in TAARP

Steven you lost $110MM in the last 2 years, how are you going to pay back $64MM?

Steven makes $1MM a year

Colorado Business Bank Bank, Denver CO was founded in 1978.  They took $64MM in tax payer bailout funding which they have neglected to pay back.  The Texas ratio is 17%.

The company has $2.5B in assets, $1.5B in loans with $210MM in equity.

Problem  loans consist of $4MM in loans 30-90 days past due, there are $49MM in non accrual with $8MM in OREO.

Net income was ($27MM) in FY10 and ($83MM) in FY09.

It might be tough paying back the $64MM in bailout funds based the recent financial performance.

The equity position is actually $146MM as the $46MM in bailout funding is debt not preferred stock.  Prefered stock doesn’t have to get paid back, this $64MM in tax payer funding does.  Though, this bank appears incapable of making any repayments.  Also, the non accrual loans  have the potential of wiping out another 30% of the equity!

The good thing is the executive compensation has not been impacted by this debacle.

Steven Bangert    made  $1MM

Jonathon Lorenz  made $694K

Lyne Andrich       was paid $529K

Richard Walton    made $541K

Bruce Callow          earned $342K

These people get paid well for wiping out 25% of the company equity in 3 years.

Again, how are they going to pay back the $64MM to the tax payers that they took?

Hey Steven, where is the $64MM? In your pocket.

Is this your bank, better head for the divide.

Sterling Financial Spokane, WA

Sterling Financial Spokane, WA was founded in 1981.  They bank took $300MM in tax payer bailout funding, which it has made no attempt to repay.  The bank has made only one dividend payment on 5/09 and haven’t made another one since.  The Texas ratio is 64%, it is one of the worst banks in the state.  The question is why are they not on the problem bank list, because this place has problems. “Sterling Financial”?

The company $9.5B in assets, $5.6B in loans and $973M in supposed equity.

The problem loan portfolio consists of $43MM on past due loans 30-90 days, get this, there are $744MM on non accrual, with OREO of $161MM.

These guys are also adept at losing a lot of money.  Net income was ($324MM) in FY08, ($830MM) in FY09 and ($206MM) in FY10.  They made an admirable attempt at wiping out the whole equity base.

The actual equity is actually $673M when you back out the tax payer bailout from the equity base, as this debt not equity.

Wow, they have $787MM in problem loans with $673MM in capital, this place is insolvent.

The question is why hasn’t it been shut down or at least put on the problem back list?

How are they going to pay the tax payer back the $300MM, that is what they lose every year.

Rest assured, the executive compensation hasn’t been impacted, these guys get paid good money to lose hundreds of millions of dollars.

Gregory Seibly   made $669K

Daniel Byrne     made $762K

Ezra Eckhardt was paid $338K

David Pillo    “earned” $1.2MM

Debbie Steck made $620K

Don Costa      made $622K

This group gets paid well for destroying shareholder value.

Hold on, the market capitalization is $1B.  I guess the investors don’t realize that this company probably has no equity.

How is the $300MM tax payer bailout getting paid back?

Sterling is the operative word for this bank.

Old Second Bancorp Aurora Illinois

This is William Skoglund, took $67MM in TAARP funding

William you lost $149MM during the last 2 years, how are you to pay back the $67MM?

William you have $261MM in problem loans

William makes $805k a year

Old Second Bancorp Aurora, Ill was founded in 1887.  The bank took $67MM in tax payer bailout funds, which it has made no effort to pay back.  The Texas ratio is 109%, making it the second worst bank in the state.  It is shocking that this company is not on the problem bank list, because this place has problems.

The company has $2.1B in assets with $1.6B in loans and $186MM in supposed equity.

The problem loan portfolio is staggering.  There are $14MM in loans 30-90 days past due, with $247MM on non accrual and $75MM in OREO.

These bankers are also adept at losing money.  Net income was ($54MM) in FY09 and ($95MM) in FY10.

If you backed out the $67MM in tax payer bailout funding, as this is a loan not equity.  The equity position is actually $119MM.  They have $261MM in bad loans supported by $119MM in equity.  Though based on the historic performance, they should be able to wipe most of this out by year end.

This bank is solvent.

What are the chances of the tax payer getting their investment back, zero!

The one positive thing is the executive compensation was not impacted.  It is important that these guys are well paid, in order that they are able to continue to bankrupt a 124 year old institution.

William Skoglund      made $805K

Douglas Cheatham   was paid $409K

James Eccher            made $496K

Rodney Sloan            earned $340K

That is good pay for losing $149MM in 2 years.  It is important that the bank pays this management team well so they don’t leave.

The market capitalization is $16MM, they are selling at 9% of book, stellar.

Pinnacle Financial Nashville, TN

 

This is Terry Turner he took $100M in bailout money

Terry you lost $52MM in the last 2 years, how are you going to pay back $100MM?

Terry made $1MM last year

Pinnacle Financial Nashville, TN was founded in 2000.  The company accepted $100MM in government bailout funding which it hasn’t returned.  Based on it’s financial performance, it is unclear how they will ever repay this tax payer bailout.

The company has $4.9B in assets, with loans of $3B and equity of $685MM.

The problem loan portfolio consists of $9MM in loans 30-90 days past due, with $81MM on non accrual and $59MM in OREO.

Net income was ($21MM) in FY10 and ($31MM) in FY09.  It might be tough to pay back the $100MM tax payer bailout with these kinds of losses.

Net income in Q1 2011 was $2MM, if one annualized this performance, they could have this paid back in 22 years.

Rest assured the executive compensation was not effected in FY10.

Terry Turner       made $1MM

Robert McCabe   was paid $1MM

Hugh Queener       earned $522K

Harold Carpenter  made $509M

Harvey White        made $385K

Wow, those are pretty good salaries for losing $50MM in the last two years.  What would they get paid if they actually made money?

If this place is the Pinnacle, what does the trough look like?

First Busey Bank Champaign Illinois

This is Van Duekman, he took $100,000,000 in bailout money which he won’t pay back

He made $718k last year

They might as hire this guy to run the place he can’t be any worse than Van

First Busey Bank Champaign, Ill was founded in 1946.  The bank took $100MM in tax payer funded bailout money and has made no effort to repay the tax payer.  The Texas ratio was 16%.

The company has $3.5B in assets with $2.2B in loans and $378MM in equity.

Problem loans consisted of $26MM in loans 30-90 days past due, there are $83MM in non accrual and $90MM in OREO.

Net income was $23MM in FY10 and ($317MM) in FY09.

The equity position is actually $278MM when you back out the $100M in the tax payer loan, this is debt not equity.  The high level of problem loans could effectively wipe out the equity base.

It is unclear how this bank will ever pay back the $100MM to the tax payer.

Don’t worry at least the executive compensation has not been impacted in FY10.

Van Duekman    was paid $718K

Barbara Harrinton made $280K

Robert Plecki            earned $329K

David White              made $308K.

At $718k a year and a $100MM in tax payer money, Van Duekman is drinking some champagne.

The  market capitalization was $486MM.  This seems high based on the high levels of problem loans.

The question is when are they going to start paying back the tax payer funding, maybe they could use the $23MM in earnings from FY10 to start repaying this debt. How about if the executives take a pay cut!

Do you have money in this  bank?

Banner Bank Walla Walla WA

Wonder why Mark is bald? He lost $239,000,000 in the last 3 years and destroyed a 121 year old bank.

With a salary of $7808,00 a year, he probably could afford Hair Club for Men!

He took $124,000,000 of your money and made $788,000

Would you trust Mark with your money?

This criminal stole $124,000,000 of your money

This is Mark Grescovich, he took $124MM in you tax payer funded money which he won’t pay back

He gets paid $788k to run this place into the the ground

Banner Bank Walla Walla WA was founded in 1890.  The bank took $124MM in tax payer bailout funding and has made no effort to repay this debt.  The Texas ratio is 41%.  It is unclear why they aren’t on the problem bank list because they have serious  problems.

Stay connected to your cash, these clowns stole $124,000,000 of your money which they won’t pay back

These Ah$$ls are connected to your cash

This is Lloyd Baker CFO, he took $124,000,000 of your money

The company has $4.1B in assets with $3.1B in loans and $492MM in supposed equity.

Problem loans consist of $26MM in loans 30-90 days past due, with $190MM on non accrual and $99MM in OREO.

It gets even worse when you look at their operating performance.  Net Income was ($136MM) in FY08, ($43MM) in FY09 and ($60MM) in FY10.

How are they going to pay the $124MM tax payer bailout back?

Paul Folz on the left makes $381,000 a year he wiping out a 100 year old bank

When you back out the $124MM in tax payer funding from the equity position. Unfortunately, this actually isn’t equity it is debt, remember this is a loan from the tax payer.  The actual equity is closer to $368MM.

They have $368MM in equity with $315MM in problem loans, they are looking insolvent, so much for getting the $124MM back.

Don’t worry the executives are doing fine, their salaries have not been impacted.

Mark Grescovich    made $788K

Michael Jones        made $407K

Lloyd Baker             earned $390K

Cynthia Purcell      earned $346K

Paul Folz                 made $381K

It is important that these people are well compensated, one would hate to lose this executive team,  who managed to blow through $239MM in the last 3 years.  It is not easy to run a 121 year old institution into the ground.

The market capitalization is $307MM.

Do you think the tax payer will be getting their $124MM back.

This is one Banner bank.

So the executives, make $2.3M, while they lost the company $239MM?

Let alone taking $124MM from the tax payer.

Do you have money is this place, maybe Mark Grescovich will insure it, because the FDIC is bankrupt.

Mark Grescovich should be in jail.

The only banner thing is Mark Grescovich making $788MM for stealing $124MM in tax payer money.

Hey Mark, the reverse stock split won’t help you already wiped out the stockholders. Keep taking your cash until the place is bankrupt, banner!

Do you have money in this disaster?

MB Financial Chicago Illinois

This is Mitchell Feiger, he took $196MM in bailout money

Mitchell makes $1.3MM

MB Financial Chicago, Ill was founded in 1933.  The company took $196MM in tax payer funded bailout money and has made no effort to make any repayments.  The Texas ratio is 32%.

The company has $10B in assets with $6B in loans and $1.3B in equity.

Problem loans consist of $132MM in loans 30-90 days past due, $1B in loans over 90 days past due and $351MM on non accrual.  Don’t worry they have loan loss reserves of $200MM to cover $1.483B in bad debt, what is that 13%.

Net income was $10MM in FY10 and ($36MM) in FY09.

Though the equity position is $1.3B, there is $387MM in goodwill.

The $196MM in tax payer funding isn’t actually so-called preferred stock, it is debt owed to the American tax payer.

If you back out the goodwill and the funds owed to the U.S. tax payer, the equity position is closer to $717MM.

If this place has $1.43B in bad debt supported by $717MM, it looks like they are technically insolvent?

They had NI of $10 in FY10 and they owe the government $196M, the tax payer should be paid back by 2031.

Why isn’t this place on the problem bank list?

The government is using tax payer funds to prop up this zombie bank.

Fortunately the executive compensation hasn’t been impacted from this debacle.

Mitchell Fieger      made $1.3M

Jill York           made $720K  however this included $19K in country club dues and $13K  for auto expenses.

Burton Field     made $721K  however, $42K was salary from working from his 2nd home?

Brian Wildman        made $608K

Rosemarie Bouman  made $567K

Not bad pay for running this bank into the ground.

Do you think they should make an attempt to pay back the tax payer.  It doesn’t appear as if they can.

Mitchell Fieger, the tax payer is looking for the $196MM you stole.

This team is using tax payer money to pay for their country club fees.

The market capitalization is $231M, 18% of book.

Do you have money is this bankrupt disaster?

First Merchants Bank Muncie, ID

First Merchants Bank Muncie, ID was founded in 1893.  The bank took $104MM in tax payer bailout funding, which it has made no effort to pay back!  The Texas ratio is 40%.

The company has assets of $4.2B, with $2.1B in loans with $556MM in equity.

The problem loans consist of $27MM in loans 30-90 past due, with $128MM in non accrual and $20MM in OREO.

Net income was $18MM in FY10, why haven’t they used these funds to pay back the tax payer?

The stated equity position is $556MM however, the $104MM is a tax payer loan that is actually debt not preferred stock.  Judging from the market capitalization, it doesn’t appear as if this stock is preffered by investors.

The company makes no attempt at paying back the tax payer however, they are not shy in paying themselves.

The executive compensation must go pretty far in Indiana.

Michael Rechin  $625K

Mark Hardwich  $395K

Michael Stewert $393K

Robert Conners $305K

John Martin        $191K

Maybe this compensation could be used to pay back the tax payer!

Michael Rechin is the merchant of stealing of $104MM in tax payer money.

The market capitalization is $279MM, which is 50% of book, that might be generous.

Do you have money in this place?

Fidelity Southern Bank Atlanta Georgia

 

Take a look at the new site

capital2risk.com

This James Miller, he took $43MM in bailout funds

James your bank lost $6MM over the last 2 years, how are you going to pay back $43MM

James you have $106MM in problem loans

James makes $889k a year, that’s more than the whole bank

Fidelity Southern Bank Atlanta, GA was founded in 1974.  The company took $43MM in tax payer bailout funds, non of which it has yet to pay back.  The Texas ratio is 41%. Why isn’t this company on the problem bank list, they appear to be technically insolvent.

The company has $1.4B in assets with $1.5B in loans and $188MM in “equity”.

Problem loans consist of $11MM in 30-90 day past due debt, there are $95MM on non accrual with OREO of $20MM.

Net income was ($3MM) in FY09 and ($3MM) in FY10.

NI in Q1 FY10 was $1.8MM.  At this rate, how long will it take to pay the tax payer’s $43MM back, eternity?

If you back out the tax payer loan from the stated equity, as this funding is not preferred stock, it is debt.  The actual equity position is $145MM.

With $106MM in problem loans, this thing is effectively insolvent.

At least the executive compensation hasn’t been impacted .

James Miller    $889K    with a 22% raise in FY11

Stephen Holly $295K   with a 43% raise in FY11

Palmer Proctor $489K  with a 29% raise in FY11

David Buchanan  $381K

These guys get pretty good  raises for running this place into to ground.  Maybe theses raises could be used for paying back the tax payer back.

The market capitalization is $84MM, 45% of book, sounds a little rich when you back out the so-called preferred stock that is actually debt, which they appear to have no means of ever repaying.

Independent Bank Corp Ionia Michigan

This is Michael Magee, he took $74MM in bailout funding

Michael hasn’t even made a dividend payment since 5/09

Michael why are you smiling, you lost $117MM over the last 3 years, how are you going to pay back $74M

Michael you wiped out 52% of the equity in only 3 years

Michael you have $134MM in problem loans

Michael makes $384k

Independent Bank Corp. Ionia MI was founded in 1890.  The company took $74MM in tax payer bailout funding none of which has been paid back.  Then again, they haven’t made a dividend payment since 5/09, it must nice to take government money interest free. The Texas ratio is 44%.  It is unclear why they are not on the problem bank list given their financial performance.

The company has $2.5B in assets, with $1.5B in loans and $170MM in equity.

Problem loans consist of $43M in loans 30-90 days past due, there are $91MM on non accrual with $39MM in OREO.

Net income was abysmal at ($78MM) in FY08, ($82MM) in FY09 and ($28MM) in FY10.

With this financial performance, there is no evidence that this bank has the ability to pay back the tax payer debt.

The equity position has significantly deteriorated from $262M in FY08 to $170MM in FY10, a decline of 52%.

The equity position is actually $96MM when you back out the tax payer funding, which is actually debt not preferred stock.

The company has $134MM in problem loans backed by $96MM in equity, they appear to be technically insolvent.

The question is why isn’t this company on the problem bank list?

The good news is that the executive compensation hasn’t been impacted!

Michael Magee made $385K

Ronald Shuster made $238M

David Reglin made  $229K

Stefanie Kimball made $228K

William Kessel made $229K

Mark Collins made $218K

Not bad pay for running a 120 year organization into the ground.

These guys have it made, they pay themselves $1MM to lose $188MM and bankrupt the company.

Don’t forget, this bank doesn’t even pay interest on this loan.

The market capitalization is $25MM or 15% of book.

They needs to explain to the tax payer how they are going to repay the government loan based on their financial performance.

Do you have money in this disaster?

Fidelity Bank Dearborn, MI

Fidelity Bank Dearborn, MI was founded in 1994.  They entered into a consent agreement with the FDIC on 2/12/10.  They were cited for poor asset quality, earnings, liquidity and management.  The Texas ratio is 138%.

The company has assets of $913MM, loans of $710MM and equity of $35MM.

The problem loans consisted of $15MM 30-90 days past due, $89MM on non accrual with $19MM in OREO.

NI was ($13MM) in FY10, ($50MM), FY09 and ($30MM) in FY08.  Their financial performance wiped out the equity base by 214% in 3 years, going from $110MM in FY08 to $35MM in FY10.

This place is adept at losing $.

Based on the levels of non accruals, they could be technically insolvent.

Despite this dismal performance, the executive compensation was $1MM in FY10.

The stock is delisted, with a market capitalization of $11M.

I think Fidelity means trust?

Yadkin Valley Bank Elkin NC

Yadkin Valley Bank Elkin, NC was founded in 1968.  The company took $49MM in tax payer bailout funding, none of which has been paid back.  Their Texas ratio is 40%.

The company has $2.3B in assets, $1.6B in loans with $161MM in equity.

Problem loans consist of $76MM that are 30-90 days past due, $91MM are on non accrual with $25MM in OREO.

If you back out the $49MM tax payer loan from the equity position, equity is $112MM, as this must be payed back, this is debt not so-called “preferred stock”.  The $112MM can’t even support the problem loan base of $231MM.

My question is how are they going to pay the $49MM government loan back?  As they made $1MM in FY10, at that rate it should be paid back by 2060.

Hold on, they lost $20MM in Q2 2011.

At least the executives aren’t being financially strained.

Executive compensation:

William Long        $439K

Jan Holler               $190K

Joseph Howell       $245K

Spencer Crosby      $203K

This crew gets paid well for destroying this company

Not sure if I would be Long on William, he did a good a job at bankrupting this thing.

The market capitalization is $36MM, 17% of book.  The investors have about as much confidence in this company as the tax payer does in getting their money back.

Wow, they raised $6.5MM in a private placement

How is that going to help the $231MM in junk loans, not to mention the $49MM they owe the tax payer.

The $6.5MM is 2% of the bad loans plus the $49MM they owe the tax payer.

That should solve the problem!

This place is a disaster.

Who would even put money into this place.

Check out their new strategic plan?

They made $150k in the first quarter

At this rate, how long will it take them to pay back the tax payer $49MM, how about 80 years.

I would be yakkin if I had money in this bank

Is this your bank?

Virginia Commerce Bank Arlington Virginia

That is Peter Converse in the middle, he took $71MM in bailout funding

He makes $461k a year, including a country club membership

Virginia Commerce Bank Arlington, VA was founded in 1988.  They accepted $71MM in tax payer funded government bailout financing, none of which has been paid back.  The Texas ratio is 20%.

The company has $2.2B in assets with $2.1B in loans and $301MM in equity.  However, 24% of the equity is from tax payer funding, which isn’t being paid back.   This is actually debt, not so called preferred stock.

Problem loans consist of $12MM in 30-90 days past  due, $62MM on non accrual, with OREO of $17MM.

Though they can’t repay the bailout funds, the executive’s are faring well.

Executive compensation:

Peter Converse           $461K

Richard Anderson     $261K

William Beauchesne   $302K

Patrica Ostrander       $215K

Steven Reeder              $255K

The compensation might be misleading, it includes a personal car allowance, country club fees and medical matching benefits.

Net income in FY10 was $26MM, maybe they could have used some of that to repay the taxpayer?

The market capitalization is $176MM, 60% of book.

Ameris Bankcorp Moultrie Georgia

This Edwin Hortman, he took $52MM in bailout money

Edwin your bank lost $44MM over the last 3 years, how are you to pay back the $52MM?

Edwin you have like $350MM in problem loans

Edwin makes $650k a year

Ameris Bancorp Moultrie, GA was founded in 1971. It took $52MM in taxpayer bailout funding, which it has made no effort to repay.

The company has $3B in assets, with $1.9B in debt, with $303MM in equity.

Problem loans are staggering.  There are $13MM that are 30-90 days past due, with $320MM on non accrual and $110MM in OREO.  Feel comforted by the fact that they have $34MM in loan loss reserves, that should cover it?

Net income was ($2MM) in FY08, ($40MM) in FY09 and ($2MM) in FY10.

If you backed out the $52MM taxpayer loan from the equity position, equity would be $252MM which wouldn’t even cover the non accrual loans.

This place looks pretty insolvent, how are they going to pay the tax payer funding?  They are probably using these funds to pay the dividend.

How come they are not on the problem bank list?

Rest assure, the executives are well compensated for running this place into the ground.

The following is the executive compensation.

Edwin Hortman  $656K

Dennis Zember    $363K

Andrew Cleney   $311K

Marc Bogan           $253K

Jon Edwards        $212K

Johnson Hipp     $292K

The market capitalization is $236MM.

This team gets paid well for stealing $52MM of tax payer money and not paying it back!

Do you have money in this bank? They took your tax payer money and your not getting it back.

Seacoast Banking Bank Stuart Florida

 

Take a look at the new site

capital2risk.com

This Dennis Hudson, he took $50MM in bailout money

Dennis got his bank on the problem bank list

Dennis, why are smiling, you lost $329MM over the last 3 years, how are you to pay back the $50MM

Dennis makes $546k a year

Seacoast Banking Corp. Stuart Fla. was founded in 1933.  They were given $50MM in government bailout funding which they have not paid back.  As a matter of fact they have only made one dividend payment and that was back in May 2009.  They have entered into a formal agreement with the OCC on 5/3/10.    The agreement  makes it sound as if they made a lot questionable real estate loans in Florida, shocking.   Maybe the OCC realized a year later, they probably can’t pay this money back?  The Texas ratio is 30% however, this would increase significantly if the government funding was backed out of the equity position.

The company has $2B in assets, with $1.2B in loans and $198 in equity.

Problem loans consist of $5MM that are over 30-91 days past due, there are $89MM in non accrual and $25MM in OREO.  That could essentially wipe out the equity base.

Net income has been stellar, NI of ($38MM) in FY08, ($143MM) in FY09 and ($31MM) in FY10.

This bank looks technically insolvent, it is difficult to figure out how the $50MM in taxpayer funding will get paid pack.  It would be nice if they decided to pay some of the dividends.

Have no fear,the executives are well taken care of.

Dennis Hudson made   $546K                                         $1MM

William Hahl was paid  $321K                                          $632K

Jean Strickand made     $446K                                         $864K

Russell Holland earned $305K                                         $288K

Dale Hudson made          $256K

Since they accepted tax payer funding (which they have made no effort to pay back), the company can’t grant the executives golden parachutes.  So if they leave they are limited to the termination money as stated above.  The second figure is the termination buyout.

Bank of Hampton Roads Norfolk, VA

This Jack Gibson, he ran this place into the ground

Bank of Hampton Roads Norfolk, VA received $77MM in government bailout funding, none of which has been repaid!  The company entered into a written agreement with the FED on 6/17/10 and is on the problem bank list.  The Texas ratio is 90%. The Texas ratio actually would skyrocket if the government bailout is backed out of the equity base.

The company has assets of $2.5B, with loans of $1.6B and equity of $183MM.

Problem loans consist of $22MM that are 30-90 days past due, $130MM are on non accrual with $57MM in OREO.

The operating performance is not exactly stellar.  NI was ($95MM) in FY09 and ($208MM) in FY10.

The equity position appears tenuous with $183MM of equity, however $77MM is taxpayer funding which is actually debt not equity!  Equity is probably $103MM but there is $209MM in problem loans.  The company is probably technically insolvent.

It is difficult to see how they are going to pay back the $77MM in government funding based on the financial performance.

Don’t worry the executives haven’t been impacted.

John Davie made $436K

Neil Petrovich made $304K

Lorelle Fritsch made $208K

David Twiddy made $740K

Douglas Glenn made $530K

Kevin Pack made $373K

Jack Gibson “earned” $1.5MM

It should be noted that the compensation included funding for personal automobiles and country club memberships.

That is pretty good pay for destroying a company! Pretty cool if the tax payer pays for your country club membership. Fore play.

This team paid themselves $4MM to generate $303MM in loses.  Jack Gibson is living large on $1.5MM in Norfolk.

Jack Gibson gets to play golf while he refuses to pay back $77MM he stole from the tax payer.

Do you have money in this bankrupt bank?

Taylor Capital Rosemont, Ill

Taylor Capital Rosemont, Ill took $93MM in government bailout funding and has made no effort to make any repayment of this capital!

However, fortunately this has not effected the executive compensation.

Chairman Bruce Taylor made $587K

CEO Mark Hoppe made $835K

Lawrence Ryan Made $519K

The insider transaction activity shows the executives had the funds to purchase company stock but not enough funding to pay back the government.

The company has a market capitalization of $171MM.

The equity position is $208MM however, $93MM is taxpayer money which is classified as preferred stock.  This is not preferred stock, this is debt.

The NI was ($143MM) in FY08, ($43MM) in FY09 and ($79MM) in FY10.

The executives get paid fairly well to generate these kind of earnings.

Based on this financial performance, how will they ever be able to pay back this tax payer money?  At least the executive’s won’t be impacted.

Newbridge Bancorp Winston Salem North Carolina

This Pressley Ridgill he took $52MM in bailout funds

Pressley you have like $152MM in problem loans, how are you going to pay back the $52MM

Pressley makes $439k, they also pay $8k for his country club dues, thanks to the tax payer

Newbridge Bancorp Winston Salem NC was founded in 1944.  They took $52MM in government bailout funds which haven’t been paid back!  The Texas ratio is 31% however, this would increase significantly if the tax payer funding was backed out.

The company has assets of $1.81B with loans of $1.31B and equity of $182MM.

Problem loans consist of $27MM in past due loans 30-90 days, $59MM on non accrual and $26MM in OREO.  That equates to $112MM in bad debt, if the $52MM in tax payer bailout funds were backed out the equity position would be $130MM, making the Texas ratio 86%.

The company has not paid back any of the government bailout funds, however, the executive has not been impacted.

CEO Pressley Ridgill recieved $439K in pay as well as $8,440 for country club dues.

CFO Ramsey Hamadi Made $266K and had $42,417 in debt forgiven!

Chief Banking Officer David Barksdale made $198K and had $5,460 in country club dues paid for

Cheif Credit Officer William Budd made $195K

Chief Resource Officer Robin Hager made $190K

The company has a market capitalization of $73MM.

The company has equity of $163MM however, $52MM is taxpayer funding.

The company made $1MM in Q1 FY11, it is going to take them a long time to pay back the $52MM based on current performance.

Privatebank Chicago Ill

The Privatebank Chicago, Ill accepted $218MM in government bailout funding from the capital repurchase plan.  They received $218MM, none of which has been paid back.

However, the executives were not shy about compensating themselves.  The CEO made $2.6MM in FY10, the CFO Kevin Philips was paid $560K.  The president Bruce Haque made $1.18 while the other president made $1.1M.  While the president of CRE Karen Lase made $888K.  That is about $7MM.

The company has a market capitalization of $1B, while the company made $24MM in Q1 FY11

Columbia Community Bank, Hillsboro OR

Columbia Community Bank Hillsboro, OR was founded in 1999.  It entered into a consent agreement with the FDIC and was cited for poor credit management, large volume of poor loans and inadequate loan loss reserves.  The Texas ratio was 60%.

The company had assets of $356MM, loans of $237M and equity of $23MM

Problem loans consisted $1.4MM 30-90 days past due, $11.9MM on non accrual and $11MM in OREO.

NI was (695K) in FY10 and ($4MM) in FY09.

The stock was recently delisted.

Fidelity Bank Dearborn, MI

Fidelity Bank Dearborn, MI was founded in 1994.  They entered into a consent agreement with the FDIC on 2/12/10.  They were cited for poor asset quality, earnings, liquidity and management.  The Texas ratio is 138%.

The company has assets of $913MM, loans of $710MM and equity of $35MM.

The problem loans consisted of $15MM 30-90 days past due, $89MM on non accrual with $19MM in OREO.

NI was ($13MM) in FY10, ($50MM), FY09 and ($30MM) in FY08.  Their financial performance wiped out the equity base by 214% in 3 years, going from $110MM in FY08 to $35MM in FY10.

Based on the levels of non accruals, they could be technically insolvent.

Despite this dismal performance, the executive compensation was $1MM in FY10.

The stock is delisted, with a market capitalization of $11M.

Armed Forces Bank Leavenworth, KS

Armed Forces Bank Leavenworth, KS was founded in 1907.  It entered into a consent agreement with the OCC on 12/14/10.  The Texas ratio is 147%.

It has assets of $2B, with loans of $918MM and equity of $301MM.

Problem loans consist of $29MM that are 30-90 days past due, with $835MM on non accrual and $263MM in OREO.

NI was ($23MM) in FY10.

First South Bank Spartenburg, SC

First South Bank Spartenburg, SC was founded in 1996.  The company entered into a consent agreed with the FDIC on 3/27/10.  The Texas ratio is 204%, making it one of the highest in the state.

They have assets of $464MM, with loans of $281MM and equity of $29MM.

They have significant levels of problem loans with $3MM that are 30-90 days past due,  $103MM on non accrual and $34MM in OREO.  This problem will put a significant strain on the equity base, going forward.

This bank is bankrupt.

NI was ($4MM) in FY10 and ($6MM) in FY09.  As a result, the equity position declined by 38% in the past 3 years.

The stock has been delisted. The market capitalization is $3MM or 10% of equity.

Take a look at the real estate they have for sale, this place likes vacant land

Bank of Granite Granite Falls, NC

Bank of Granite Granite Falls NC was founded in 1906.  It entered into a cease and desist order on 8/27/09 with the FDIC.  Among other things cited were, failure of the board to supervise, management that was detrimental to the bank, inadequate liquidity and poor quality loans.  The Texas ratio was 153%.

The bank is also on the under captialized bank list. The tier 1 risk based captia ratio is 5.87, far below the target of 8%.

This is a Bank of Granite

The bank has assets of $875MM, loans of $533MM and equity of $18MM.

Problem loans are $66MM.

So, they have $66MM in bad loans with $18MM in equity?

This place is sitting on granite.

NI was ($23MM) in FY10 and ($18MM) in FY09.  As a result, they were able to effectively wipe out 123% of the equity, as it eroded from $50MM in FY08 to $23MM in FY10.

They lost another $4MM in Q2 2011. The equity position is $18MM.

They lost another $4MM in Q3 2011.

However, the executives paid themselves $800M in compensation for this stellar financial performance!

The company has not posted any financial information on their website since FY09.

The stock was recently delisted, maybe due to the ROE of (76%).

The bank has about 80 listings of property for sale, much of which is vacant land.  This place is more like a real estate auction than a bank.

This place is looking technically insolvent.

They applied for $30MM in TAARP, it doesn’t appear that they received it. That is the one positive thing because they would probably not have paid it back

“Granite”

First Georgia Banking Company, Franklin, GA

First Georgia Banking Banking Company Franklin, GA was founded in 2003.  The Texas ratio is an astounding 276%.

This is one of the worst capitalized banks in the country.

The company has $780MM in assets and $504MM in loans with $17MM in equity.

Problem loans consist of $11M in loans past due 30-90 days, with $53MM of non accrual, while OREO was $35MM.

NI was ($15MM) in FY10 and ($23MM) in FY09.

The equity was significantly eroded as it declined from $65MM in FY08 down to $17MM in FY10.

This company is  technically insolvent.

If this is the First Georgia Bank, I would hate to see the last.

Is this your bank?

It is unclear why they are not on the problem bank list.

The executive compensation total  was$1MM in FY09 despite the company’s abysmal performance.

They have not posted current financial statements on the website since FY09.

In January 2011, the company had a stock offering in an effort to raise $45MM.  They raised only $750,000, representing 2% of the offering.  Not surprising given the financial condition.

Do you have money in this company,they are bankrupt.  The FDIC is also bankrupt.

Is this place scaring you yet?

Do you have money in this place?

The Park Avenue Bank Valdosta, GA

The Park Avenue Bank Valdosta, GA was founded in 1956.  The company entered into a written agreement with the FED on 7/14/09.    The Texas ration is a staggering 400%.

Assets are $935MM, with loans of $534MM and equity of $17MM.

Problem loans consist of $14MM that are 30-90 days past due, with $157MM of non accrual and $93MM in OREO.  That is a phenomenal level of problem loans in relation to the limited equity base.

NI was ($49MM) in FY09 and ($43MM) in FY10.

The equity position eroded rapidly from $101MM in FY08 to $17MM in FY10, a 500% decline in only 3 years!.

The stock was recently delisted, this may have been aided by the ROE of (120%) in FY10.

This bank is technically insolvent.

Despite this abysmal performance, the executive officers took $2MM in compensation!

Take a look at the company website, they have so much real estate for sale, that it is hard to determine if they are a bank or a real estate company.

Atlantic Southern Bank Macon, GA

Atlantic Southern Bank Macon, GA was founded in 2001.  They have entered into a cease and desist agreement with the FDIC on 9/11/09.  They were cited for failure of the board to supervise, management policies that were harmful to the bank, inadequate capital,  poor quality loans and operating to produce losses.  The Texas ratio is 500%!  The stock is delisted.

They have $781MM in assets, $561MM in loans and $20MM in equity.

Problem loans are $17MM 30-90 days past due, $9MM over 90 days , with $106MM on non accrual and $73MM in OREO.

The levels of problem loans in relation to equity is staggering.

NI was ($37MM) in FY08, ($18MM) in FY10.

The equity position has been significantly eroded, declining from $98MM in FY08 to $20MM in FY10.  That is a decline of 390%.

Based on the level of problem loans and the levels of equity, they are probably technically insolvent.

They have not posted the FY10 annual report

Douglas County Bank Douglasville, GA

Douglas County Bank Douglasville, GA was founded in 1974.  It has entered into to a cease and desist agreement with the FDIC on 11/7/09.  They were cited for no board oversight, management policies damaging to the bank, inadequate equity, poor quality loans, lax underwriting and operating to produce losses.  The Texas ratio is 577%.

They have $335MM in assets, $226MM in loans and $15MM in equity.

The problem loans consist of $10MM 30-90 days past due, $226MM on non accrual and $60MM in OREO.

They appear to be technically insolvent.

They have an impressive list of properties for sale on the website.

Park Cities Bank Dallas, TX

Park Cities Bank Dallas, TX was founded in 2000.  They have entered into a consent order with the FDIC.  The reasons cited were deficiencies in asset quality, liquidity, management, board oversight and deterioration in capital.

They have $878MM in assets, $510MM in loans and $41MM in equity.

The problem loans consist of $17MM that are 30-90 days past due, $136MM on non accrual and $38MM in OREO.

NI was ($9MM) in FY09 and ($42MM) in FY10.

Equity has rapidly eroded from $89MM in FY08 to $41MM in FY10MM, a decline of 123%.

The scary part is, they have $191MM in problem loans with only $41MM in equity.

This place is a bankrupt disaster.

Do you have money here? You might want to Park it in under your mattress.

Amboy Bank Old Bridge, NJ

Amboy Bank Old Bridge NJ was founded in 1888.  It has entered into a written agreement with the FED on 2/3/10.  The Texas ratio  is 87%.

The company has assets of $2.41B, $1.51B in loans and $213MM in equity.

Problem loans consist of $70MM in loans past due 30-90 days, there are $106MM on non accrual and $124MM in OREO.

The company has $3ooM in problem loans backed by $213MM in equity.

This bank is bankrupt.

Why hasn’t it been closed down.

They state they were voted the best bank for 12 years? Best bank at what making bad loans.

They forgot to post the financial statements.

Funny, they don’t even tell you who is the CEO or the management team.

Maybe the jumped off the old bridge.

This place is a disaster.

If you have money in this thing take it out because they are wiped out.

Is this your bank? You might want to jump off the old bridge!

First Utah Bank Salt Lake City, UT

First Utah Bank Salt Lake City, Utah was founded in 1978.  They have entered into a written agreement with the FDIC on 9/29/09 which has put them on the problem bank list.  the Texas ratio is 135%.

They have $305MM in assets, with $171MM in loans and $19MM in equity.

The problem loans are $5MM in 30-90 days past due, $19MM in non accrual and $23MM in OREO.  The $47MM in delinquent loans are backed only with $19MM in equity.

NI was ($10MM) in FY08, ($9MM) in FY09 and ($16MM) in FY10.

The equity position eroded from $36MM in FY08 to $19MM in FY09, that is a decline of 89%.

This place is bankrupt!

Better call the Angel Moroni, even the golden plates won’t save this thing.

American Bank Silver Springs Maryland

American Bank Silver Springs, MD was founded in 1983.  It entered into an cease and desist order with the OTS on 1/6/11, subsequently, to a similiar consent agreement 9/4/08.  They were cited for having inadequate capital, adverse classified loans and aiding unsafe business practices.  The Texas ratio is 90%.

They have $555MM in assets with $367MM in loans and $49MM in equity.

Problem loans consist of $5MM in 30/90 past due, with $30MM in non accrual, $5MM in OREO and $12MM in foreclosures.

This thing is bankrupt.

Is this your bank, might want to jump into the silver spring.

Home Street Bank Seattle,WA

Home Street Bank Seattle, WA was founded in 1921.  On 5/8/09 it entered into a cease and desist with the FDIC.  This was based on inadequate managemnt policies, inadequate capital, poor quality of loans, low earnings and low liquidity.  This might be the result  of having a Texas ratio of 158%.

The company has $2.48B in assets, $1.75B in loans with $123MM in equity.

Problem loans consist $33MM that are 30-90 days past due, $103MM over 90 days past due,$130MM on non accrual and $87MM in OREO.  Holy cow, they have $353MM in bad loans with $123MM in equity.  This doesn’t look good.

Net income was ($105MM) in FY09 and ($43MM) in FY10.  This enabled the company to eradicate from $256MM in FY08 down to $133MM in FY10, that is a 92% decline in 3 years.  Wow 91 years of history, has been wiped out in 3 years.

Funny, this guys have forgotten to post their financial information since 9/30/2010.

Sounds like Bruce Williams,  did a great job of driving this thing into the ground.

Is this your bank?

Sun First Bank St. George UT

Sun First Bank St George, Utah was founded in 2001. The Texas ratio is 161%,  the  highest in Utah.  It entered consent agreement with the FDIC on 5/11/10.  They were cited for inadequate capital, management, loan quality and earnings,  It looks like they have high levels of CRE.

They have $224M in assets, loans of $134M and equity of $18MM.

Problem loans are $30MM, with $22MM on non accrual and $18MM in OREO.

With $30MM in problem loans and $18MM in equity, this place is bankrupt.

Why isn’t this place closed down?

NI was ($8MM) in FY09 and ($9MM) in FY10.  This allowed them to erode the capital base from $26MM in FY08 down to $10MM in FY10,  that is a loss of 86%.

They lost another $1MM in Q1 2011.

Sun First, destroy the company second.

Inadequate management! Shocking

John Allen, the CEO did wiped this place out in record time. How about locking this guy up.

Check out the vacant land they have for sale.  Who in their right mine finances vacant land?

Apparently, John Allen does.

Is this your bank?

Do you keep money in this bankrupt disaster?

Home Federal Savings Bank Rochester, MN

Home Federal Savings Bank Rochester, MN was founded in 1934.    The Texas ratio is 89%, that could be reason they entered into a cease and desist order with OTS on 6/20/08.  They have $26MM in TAARP funds which hasn’t been repaid. In additions, they stopped making dividend payments on 11/15/10.

The company has $880MM in assets, with loans of $666MM and equity of $68MM.

Problem loans consist of $4MM that are 30-90 days past due, with $43MM on non accrual and $16MM in OREO.

If you back the $26MM of TAARP out of the capitalization,  that leave s$42MM in equity and $63MM in bad debt.  That could be the reason the market capitalization is $12MM or 12% of book.

First Federal Bancshares Harrison, AK

First Federal Bancshares Harrison, AK was found in 1934.  The Texas ratio  is 159%, They entered into a cease and desist order with of OTS on 4/14/10.  They were cited for having unsafe banking practices, and inadequate capital.  They took $16MM in TAARP funding, which they haven’t paid back also.  In addition, they have not paid a dividend on these funds since 11/16/09.

They have assets of $599MM, with loans of $385MM and equity of $36MM.

Problem loans consist of $2MM that are 30-90 days past due, with $49MM on non accrual, $44MM in OREO and $8MM in foreclosure.  The market CAP is $6MM, which is 17% of equity.

The NI ($3MM) in FY08, ($15MM) in FY09 and ($3MM) in FY10.  They were also able to erode the equity from $70MM in FY08 down to $36M in FY10,  a 94% decline.

.

Metrpolitan National Bank Little Rock, AK

Metropolitan National Bank Little Rock, AK was founded in 1970.  The have a Texas ratio of 245%. They reason the entered into a formal agreement with the OCC on 5/22/10.  Reasons cited were inadequate capital and concentrations of credit.

They have $1.3B in assets, $738M in loans with $73MM in equity.

Problem loans consist of $6MM in loans past due 30-90 days,  there are $205MM on non accrual and $131MM in OREO.  As a result, they have $342MM in problem loans, supported  by only $73MM in equity

The capital position eroded from $150MM in FY08 down to $73MM in FY10, that’s a decline of 105% in 3 years.

The company had NI of ($9) in FY09 and ($85MM) in FY10.

They haven’t posted their financial results, on their website,  since the 3rd quarter of FY10.

The Leaders Bank Oak Brook, IL

Take a look at the new site

capital2risk.com

This is Kathleen Hardy, the chief credit officer

Kathleen is one savvy bankster, she is sitting on $59,000,000 in bad loans with only $7,000,000 in equity

Kathleen likes to engage in unsound banking practices

Do you have money in this disaster

John Gleason you blow through more money than this cat

John Gleason  is kicking down unsound practices

The Leaders Bank Oak Brook, IL was founded in 2000.  The Texas ratio is 186%, they entered into a consent order with the FDIC on 11/31/10 for unsound practices.  The management team bankrupted this place in only 10 years, good effort.

They have assets of $629M, with loans of $486MM and equity of $24MM.

This is John Finnerty, treasury management

John you lost $24,676,000 in Q4 2011

John you wiped out 343% of the equity in only 90 days

The problem loans consisted of $6MM that are 30-90 days past due, with $44MM on non accrual and $16MM of OREO.

They have $66MM of problem loans, backed by $24MM in equity.

This is Tom Carmody the Senior Lender

Tom has specializes in making sh$$t loans

Net income was ($1MM) in FY08, ($2MM) in FY09, and ($24MM) in FY10.  The equity position eroded from $51MM in FYE08 to $31MM in FY10, a decline of 53%.

They lost an staggering $7MM in Q2 2011.  The management team has eroded 113% of the equity.

*  The bank lost $21MM in Q3 2011 wiping out 52% of the remaining equity.

They now have $77MM in problem loans with $10MM in equity.  This place could be bankrupt by year end.

This place is bankrupt.

This management team are the Leaders at making junk loans and wiping out shareholder equity.

John Gleason was able to run this thing into the ground at a record pace.

This place is The Leader Bank?

John Gleason is the leader out wiping out a bank in record time

Is this your bank?

You might want to jump into the Oak Brook!

This thing is destitute.

Take your money out of this disaster

First Bank and Trust Company of Illinois Palatine, IL

Allen, how about the weakness in management, capital and earnings

Is the guy cooking the books with $96M in bad loans and $12MM in equity

Allen you specialize in commercial real estate?

First Bank and Trust of Illinois was founded in 1962.  The entered into a consent agreement with the FDIC. They were cited for having excess CRE exposure coupled with weakness in earnings, asset quality, management and liquidity.  The Texas ratio is 200%.

The bank has $359MM in assets, with $247MM in loans, equity is $12MM.

The problem loan portfolio is $96MM.

They have a $96MM in problem loans, with $36MM in equity.

Net income was ($8MM) in FY08, ($13MM), in FY09 and ($4MM) in FY10.  The equity position quickly declined from $66MM in FY08 to $36MM in FY10, which is a  83% decline.

They lost another $7.8MM in Q2, the resulting equity position is $36MM

The bank lost $12MM in Q3 2011 wiping out 38% of the remaining equity.

The remaining equity is now $32MM

This company states it specializes in commercial real estate.

Alan Reasoner has done a first rate job at bankrupting this institution

Would you bank or trust with Alan Reasoner?

Take your money out of this disaster.

Friends Bank New Smyrna Beach, FLA

Friends Bank New Smyrna Beach, FLA was founded in 2000.  With a Texas ratio of 193%.

The bank has assets of $147MM, with $106MM in loans and equity of $11.

The problem loan portfolio is $34MM.

This place has $34MM in bad loans with $12MM in equity.

The bank is beyond bankrupt.

Why isn’t this bank shut down?

Then again, why isn’t this disaster not on the problem bank list.

Pete Kilronomos bankrupted this place in record time.

Do you have money in this disaster?

With friends like Pete Kilronomos, who needs enemies.

Friends of the devil.

This bank is bankrupt.

Beach Community Bank Walton Beach, FLA

Beach Community Bank Walton Beach , FLA was founded in 2001.  They entered into a consent agreement with the FDIC on 3/16/10.  The Texas ratio is 247%.

They have assets of $633MM with loans of $470MM, which is supported by equity of $45.

The problem loan base consists $47M in 30-90 days, $159MM  on non accrual with $39MM in OREO.  This equates to a portfolio that has 53% of the assets that are past due.  This equates to $245MM in problem loans, supported by $45MM in equity.

NI was ($7MM) in FY08, ($10MM) in FY09 and ($10MM) in FY10.  This allowed the equity erode from $56MM in FY08 to $45MM in FY10 reflecting a 24% decline.

They haven’t  posted the FY10 annual report.

First Chicago Bank and Trust Itasca, Il

First Chicago Bank and Trust Itasca IL was founded in 1905.  They are making a valiant effort at becoming one of the worst banks in the state  with a Texas ratio of 186%.  They have entered into a written agreement with the Fed , for general incompetence, placing them on the problem bank list.

They are also on the under capitalized bank list.  Their tier 1 risk based capitalization is 3.30%, significantly the 8% target.  They are one of the worst capitalized banks in the country.

The company has $1B in assets $742MM in loans, with $45MM in equity.

The problem loans consist of $21 of 30-90 days past due, $129 on non accrual and $36MM in OREO.

Take a look at their earnings performance, NI ($32MM) in FY08, ($119MM) in FY09, and ($51MM) in FY10.

This allowed them to destroy the capitalization from $159MM in FY08 to $44MM in FY10, that’s only a decline of 262%

NI in FY10 was $28M with overhead of $43MM.  That might be part of the problem?

Interesting how they haven’t been able to come up with a press release since 2009.  Here is a press release, you lost $170MM  since then, which destroyed the whole equity base.  These people destroyed a 106 year old bank.

Oh, they have also forgotten to post the financial performance since 2009, they must be tied up with losing money?

They also won’t tell you who the management team is.

I guess when you lose $202MM and bankrupted this thing, it is good to keep a low profile.

Do you have money in this place.

They are probably not first and I definitely would not trust them

Plantation Island Bank Pawley’s Island, SC

Plantation Island Bank Pawleys Island SC was founded in 1986. It has a  Texas ratio of 221%.  They have entered into cease and desist agreement with the OTC on 6/13/10, for among other things inadequate capital, inadequate earnings, with excessive concentrations in land loans, HELOCS and non mortgages.

They have assets of $628M, with loans of $437MM and equity of $24MM.

Problem loans consist of $26MM that are 30-90 days past due, with $44MM on non accrual, OREO is $25MM.  That means, $95MM in problem debt, is supported by $24MM in equity.

NI was ($14MM) in FY10.  Equity eroded from $52MM in FY08 to $24 FY10, a decline of 117%.

Bank of Las Vegas Las Vegas, NV

Bank of Las Vegas was founded in 2002.  They have a  Texas ratio of 275%.   They entered into a consent agreement with the FDIC on 3/15/10 and were cited for performing unsafe and unsound lending.

They asset base was $375MM with loans of $283M and $8MM in equity.

Problem loans consisted of $12MM that were 30/90 days past due, with $6MM over days 90 days past due , non accrual is $95MM and OREO is $12MM.  That equates to 44% the portfolio, that are problem loans. This results in $125MM in problem debt, supported by $8MM in equity.

NI was ($5MM) in FY10.  Equity eroded from $14MM in FY08 to $8MM in FY10, which is 75%

With NI of $11MM and overhead of $21MM, this is a challenging cost structure in any environment.

Brooklyn Federal Savings Brooklyn, NY

Brooklyn Federal Savings Brooklyn, NY was founded in 1887.  The Texas ratio is 187%.  They entered in supervisory agreement with the OTS on 9/28/10.

The company has assets of $458MM with loans of $358MM and equity of $37MM.

The problem loans consist of $3MM of 30-90 days past due, $105MM in non accrual, with $48MM in foreclosure.

NI was ($30MM) in FY10.  This may be the reason equity declined from $76MM in FY08 to $37MM in FY10,  a 100% decline.

They had an IPO on 4/06/05 and the stock, is currently on the verge of being delisted.  Investors may not be attracted to the ROE of (58%) in FY10.

Bank of the Commonwealth Norfolk, VA

Bank of the Commonwealth Norfolk, VA was founded in 1971.  They entered into a written agreement the Fed on 4/2/10.  They agreed that they need to improve lending, credit risk, capital and earnings.  The Texas ratio to 112%.

The assets are $1.1B, with loans totaling $888M, equity is $65M.

Problem loans consisted of 30-90 past due loans of $67MM, over 90 days were $7MM, with $190MM on non accrual and $65MM in OREO.

NI was ($2MM) in FY08, ($24MM) in FY09 and ($34MM) in FY10.  The capitalization eroded from $105MM in FY08 to $64MM in FY10, a 64% decline.

The market capitalization is $3.5MM which is 5% of book, while the company has $1.1B in assets.

The executives paid themselves well for destroying this bank.

Edward Woodward    made $576k

Cynthia Sabol               made $275k

Simon Harnslow         made  $194k

Stephen Fields            made  $182k

That is good pay for wiping out the stockholders, racking up  $300MM in bad loans and bankrupting the company.

Edward Woodward is one savvy banker.

First International Bank Plano TX

First International Bank Plano, TX was founded in 1991.  The Texas ratio is of 224%.  They entered into a consent agreement with the FDIC on 3/23/10, for unsound practices.

They are also on the list of under capitalized banks, with tier1 risk based capitalization of 3.90%, significantly below the 8% hurdle.

They have assets of $343MM with loans of $241MM and equity of $6MM.

They have $50MM in problem loans supported by $6MM in equity.

NI was ($25MM) in FY10, this allowed them erode the capitalization from $33MM in FY08 to $6MM in FY2011, which is a 450% decline.

They lost $3.7MM in Q2 2011

Why isn’t this place closed down.

First National Bank of Olathe Kansas

This is Brian Roby, he bankrupted this place

Brian ran a 100 year old bank into the ground

Brian ran up a $171MM in problem loans and wiped out all the equity

First National Bank of Olathe KS was founded in 1887.  The Texas ratio is a staggering 401%.

They have assets of $578M with loans of $347MM and equity of $7MM.

Problem loan portfolio is a staggering $171MM

So they have $171MM in problem loans and $7MM in equity.

This place is bankrupt, why is it not shut down?

They lost another $6MM in Q1 2011, the equity is eroded to $11MM, they should be wiped out soon.

Denise Meyer, the chairman, and Brian Roby, the president, did a great job bankrupting this place.

This bank survived the great depression but it won’t survive Denise Mayer and Brian Roby

Is this your bank?

NewDominion Bank Charlotte, NC

Newdominion Bank Charlotte, NC was founded in 2005.    On 11/9/10 they entered into a consent order with FDIC.  Among other things, they are requested to hire a competent CEO, CFO and Senior Lender.  The Texas ratio is 159%.

They have assets of $505MM, loans of $299MM with equity of $13MM.

Problem loans consist of $6MM in loans 30-90 days past due, $38MM are on non accrual with $16MM in OREO.  That’s $60MM in problem loans which, is supported by $13MM in equity

NI in FY09 was ($9MM) and ($22MM) in FY10.

The capitalization eroded from $42MM in FY08 down to $13MM in 2010, that is a decline of 223%.

This is a NewDominion?

Sun Security Bank Ellington, MO

Sun Security Bank Ellington, MO  was founded in in 1970.  The Texas ratio was 233%.  They entered into a cease and desist agreement with the FDIC 4/30/08.   Among other things cited, they didn’t have appropriate loan documents, didn’t  have correct LTV’s, didn’t control loan disbursements  and didn’t get proper financial information.

They  have $380MM in assets, $258M in loans, with $9MM in equity.

There are $68MM in problem loans.

Hold on, they have $68MM in problem loans with $9MM in equity. Do you think this bank is bankrupt?

Why isn’t this place shut down?

NI was ($15MM) in FY 08, ($4MM) FY09 and ($6K) FY10.

They lost another $15MM in Q2 2011.

Security is not the operative word for this place.

Legality is not their strong point.

They forgot to post their financial statements or tell you who the CEO and management team are.

That is security.

The sun is setting on this disaster!

Is this your bank?

Community Central Bank Corporation Mount Clemens MI

Community Central Bank Corporation Mount Clemens, MI was founded in 1996.  It has recently entered into a consent agreement with FDIC.  The Texas ratio is 185%.

The assets are $476MM with $355MM in loans, supported by $8MM in equity.

The loan portfolio consists of $14MM in loans 30-90 past due, $59MM in non accrual with $11MM in OREO.  Sounds like they have $84MM in bad debt with $8MM in equity.

The NI was ($6MM) in FY08, ($13MM) in FY 09 and ($26MM) in FY10.

This might explain how the equity position eroded from $41MM in FY08 to $8MM in FY10, that is a 412% decline.

FY10 NI was $13MM with fixed expenses of $19MM, this is a challenging business model.

The company still hasn’t filed the 10-K for 2010, they were delisted on 4/19/10.  The market cap is $447,000,  that’s 6% of book.

Why isn’t this thing shut down?

Integra Bank National Association Evansville Indiana Mike Vea took $84,000,000 of tax payer money Mike Vea made $89,000,000 in bad loans Mike Vea won’t even pay interest on the money he stole from the tax payer

This is Mike Vea, he took $84MM in bailout funds

Mike won’t even pay interest on these funds

Mike’s bank is on the problem bank list

Mike you lost $200MM in 2 years

Mike has $248MM in problem loans

Integra Bank National Association Evansville, IN was founded in 1850.  They entered into a consent agreement with the OCC on 5/20/09.    The  Texas ratio is 129%.  This bank took $84MM dollars in government funded TAARP money.  They have made only 2 dividend payments and have not made a dividend payment since 8/09.

They have $2.4B in assets with $1.26B in loans, supported by $89MM in equity.

There are $19MM in loans 30-90 days past due, $197MM in non accrual and $49M in OREO.  That equates to $248MM in problem loans supported by $89MM in assets.

NI was ($106MM) in FY08, ($101MM) in FY09 and ($110MM) in FY10.  At least they keep the losses consistent.

In FY10 they had $68MM in income and $96MM in overhead, that might account for some of the losses.   The cost structure seems challenged.

They have eroded the equity from $309MM in FY08 to $89MM in FY10, a 250% decline.

The stock was recently delisted.  There are probably not a lot of investors looking for an ROE of (86%).  The market CAP is $4MM.  They are selling at 4% of book.

Integra, they might want to change the name

High Trust Bank Stockbridge, Georgia

High Trust Bank Stockbridge GA, was founded in 1966.   They recently entered into a cease and desist order with the FDIC for among other things, weak asset quality capitalization, earnings and management.  The Texas is 512%.

They have assets of $196MM, $145MM in loans with $6MM in equity.

There are$8MM loans 30-90 days past due, with $33MM on non accrual and $23MM in OREO.  That is 45% of the loans that are past due.  There are $64MM in problem loans that are backed up by $6MM in capital.

NI was ($3MM) in FY09 and ($4MM) in FY10.  In FY10, they had $3MM in net income while the overhead was $6MM.  That is a challenging business model?

Capitalization went from $23MM in FY08 to $6MM in FY10.  That is a decline of 283% of the capital in 3 years.

High Trust? You gotta be high to trust this place

Optimum Bank Plantation, FLA

OptimumBank Plantation FLA, was founded in in 2000.   They entered into a consent order with the FDIC on 4/26/10, putting them on the problem bank list.  A few of the many problems were weak earnings, asset quality and management, liquidity and capitalization.  The Texas ratio is 330%.

They have $140MM in assets, $113MM in loans and $7MM in equity.

Loans 30-90 days past due are $3MM, with $64MM on non accrual and $3MM of OREO. That’s  62% of the loans are past due.  Or $70MM in problem loans, with $7MM in equity.

NI was ($13MM) in FY09, and ($8MM) in FY10.

The capitalization went from $28MM in FY08 to $7MM in FY10.  That is down by 300%.

The stock was delisted in July 2010.

Optimum Bank? They might want to change the name.

First City Bank Fort Walton, FLA

First City Bank Fort Walton, FLA was founded in 1984.  They have a Texas ratio of 301%.  They entered into a cease and desist order with the OCC on 10/15/09.   They were cited for having inadequate capital, inadequate liquidity, operating in violation of the law, hazardous lending and management practices that were detrimental to the bank.

They have assets of $313MM, loans of $193MM and equity of $21M.

Loans 30-90 days past due are $795M, non accrual is $92MM and OREO is $31MM.  That is 64% of their loans portfolio, with $123MM in problem loans supported by $21MM in equity.

The capitalization eroded from $23MM in FY08 down $8MM in FY10.  That is a decline of 188%.

NI was ($4MM) in FY08, ($6MM) in FY09 and ($6MM) in FY10.

In FY10 NI was $5MM with overhead of $9MM, the business model appears strained.

Central Virginia Bank Powhaton, VA

Central Virginia Bank was founded in 1973.  The  Texas ratio is 127%.  They entered into a written agreement with the Fed on 4/15/10.   The stock was delisted in November of 2010.

The bank has $408MM in assets and $252MM in loans, with $15MM in equity.

They have $14MM in loans past due 30-90 days, with $33MM on non accrual and $2MM in OREO.

NI was ($9MM) in FY08, ($8MM) in FY09 and ($14MM) in FY10.  The capitalization declined by 100% in the last 3 years.

The market capitalization is $3MM.  They are selling at 20% of book.

The First State Bank Stockbridge, GA

Check out the new site

CAPITAL2RISK.COM

This is David Gill he runs one of the worst banks in the country

That fat cat bankster on the left has bankrupted this place

David Gill wiped out 340% of the banks capital 

David has $268,000,000 in sh$$t loans

At least they have the token black guy, that keeps the FDIC off their backs  

This is one of the worst banks in the country

The First State Bank Stockbridge, GA was founded in 1964.  The Texas ratio is 647%.

This fat pig is David Gill, this bankster wiped this company out

They have assets of $563MM, loans of $369MM and equity of $15MM.

They have $30MM in loans past due 30-90 days, $159MM on non accrual and $79MM in OREO.  That is 73% of their portfolio that is past due.

NI was ($5MM) in FY08, ($47MM) in FY09 and ($11MM) in FY10.

The capitalization eroded from $66MM in FY08 to $15MM in FY10. This a decline of  340% in 3 years.

They have $268MM in bad loans supported by $15MM in capitalization.

At least the executives get paid well for running this place into the ground.

William Storm        made  $120k

Charles Blarr         made    $190k

Debra Walker        made    $106k

That is good pay for wiping out 340% of the equity.

This place is bankrupt

Is this your bank?

Builders Bank Chicago, IL

The Builders Bank Chicago, IL was founded in 1997.  They have Texas ratio of 297%.  On 5/27/10 they entered into a consent agreement with the FDIC and have the distinction of being on the “problem bank list”.  The portfolio consists on 100% commercial real estate.

They have $306MM in assets with $177MM in loans.  Equity is $23MM.

Here is the executive board room.  Where are the executives?

Loans that are 30-9 past due are $6MM, $67MM are on non accrual with OREO of $56MM.  That equates to 73% of the portfolio that is past due.

So, they have $73MM in problem loans with $23MM in equity.

This bank is insolvent!

NI was ($3MM) in FY08. ($25MM) in FY09 and ($5MM) in FY10.

They lost another $2.3MM in Q2, eroding the equity position to $21MM.

They eroded the capital base from $54MM in FY08 to $23MM in FY10, that is 135% in 3 years.

This place is bankrupt.

Why isn’t this place closed down?

It didn’t take the management team long to wipe this place out.

I guess this group doesn’t understand the meaning of diversification.

The only thing this bank builds is a portfolio of bad loans.

For some reason they forgot to put the financial statements on the website?

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

Mitchell Saywitz is the CEO, he has done an admirable in wiping this place out.

Do you have money in this bank?

This is one of the worst banks in the country.

You might want to change banks

Builders bank, these guy built one F$$??? abortion

First National Bank of Florida Milton, FLA

The First National Bank of Florida Milton, FLA it was founded 1989.  The Texas ratio is 301%.

They have assets of $313MM with $193MM in loans and equity of $21MM.

The 30-90 past due loans are $795M, non accrual is $91MM with 31MM in OREO.  That translates into 64% of the portfolio that is past due.  They have $21MM in equity to support $123MM in problem loans.

NI was ($10MM) in FY08, ($17MM) in FY09 and ($17MM) in FY10.

In FY10, they had $7MM in income with $17MM in overhead, I guess that is why the efficiency ratio is 217%.

They have 52  OREO properties for sale, many of which undeveloped  land lots available.

Palm Desert National Bank Palm Desert, CA

 

Palm Desert National Bank Palm Desert, CA was founded in 1981.  The company entered into a consent agreement with the FDIC on 11/5/10.  The Texas ratio of 465%.

They have $232MM in assets with $102MM in loans, with only have $5MM in equity.

Loans past due 30-90 days were $716M, non accrual loans were $63MM, with OREO of $20M.  That equates to 81% of the portfolio that is past due.  The $83MM in past due loans is supported by $6MM in assets.

This place is bankrupt.

Why is this disaster not shut down?

Net income was ($18MM) in FY09 and ($6MM) in FY10. They lost another $1.6MM in Q1 2011

Equity eroded from $35MM in FY08 to $6MM in FY10, that is 483% decline.

Richard Scheinder, the CEO has done an admirable job at bankrupting this place.

Do you have your money with Richard Scheinder?

 

Sunrise Bank Phoenix, AZ

Sunrise Bank Phoenix, AZ was founded in 1998.  On 11/15/10 they entered into a consent order with the FDIC.  The Texas ratio is 321%.

They have  30-90 day past due loans of $462M, $39MM are on non accrual and OREO of $32MM, with $2MM in equity

NI was ($16MM) in FY08, ($42MM) in FY09 and ($41MM) in FY10. Resulting in an ROE of (443%).

The equity position eroded from $17MM in FY08 down to $2MM in FY10, a decline of 750%.

The tier 1 risk based capitalization is 3.95%, significantly below the 8% target

The sun soon might stop rising on this place.

.

Seattle Bank Seattle, WA

Seattle Bank Seattle, WA was founded in 1999.  On 6/8/09 they entered into a cease desist order with the FDIC. Among other things being cited were, inadequate capitalization, unsafe lending practices, poor quality loans and operating in a manner to produce losses. The Texas ratio is 384%.

The company has assets of $467MM with loans of $330MM.

Loans 30-90 days past were $881M, $28MM in loans were on non accrual with $48MM in OREO.  That translates into $76MM in problem loans with only $3MM in equity.

NI was ($19MM) in FY08, ($33MM) in FY09 and ($61MM) in 2010.  The ROE was (143%) in FY10.

Capitalization eroded from $64MM in FY08 to $7MM in FY10.  That’s an 814% decline.

The River Bank Wyoming Minnesota

The River Bank Wyoming, Minnesota was founded in 1908.  On 3/11/09 they entered into a consent order with the FDIC.  They were cited for inadequate capitalization, inadequate capital and hazardous lending.   The Texas ratio is 245% .

In Q2, they lost $8MM whereby, wiping out 113% of the equity.  The equity position is down to $7MM.  This place is going down the river fast.

Go to the website and check out the real estate for sale.  This place likes to finance raw land.  Is this a bank or a real estate company?

The bank has $432MM in assets with $315MM in loans.

Loans that were 30-90 days past due are $5MM, non accrual assets were $59MM and OREO is $42MM.

NI of ($19MM) in FY09 and ($7MM) in FY10.

The equity position eroded from $44MM in FY08 down to $21MM in FY10, a 110% decline.

Given the fact that FDIC is bankrupt, would you keep your money in this place?

They have $21MM in capitalization to support the $106MM in problem loans.

This place is bankrupt, the management team has done a good job at wiping out a 114 year old institution.

Hazardous lending?

The CEO Craig Danielson did an admirable job bankrupting this place.  The bank survived the great depression but it won’t survive Greg Danielson.

Given the fact that the FDIC is bankrupt, would you keep your money in this place?

Atlantic Bank and Trust Charleston, SC

Atlantic Bank and Trust of Charleston, SC  was founded in 2007.  The Texas ratio is 470%.  This team wasted no time bankrupting this company.

How come they aren’t on the problem bank list?

They started  bank in 2007, I guess they forgot to read the paper.

There are $1.4MM in loans 30-90 days past due, $46MM in non accrual and $4MM in OREO.

The capitalization eroded from $31MM in FY08, to  $7MM in FY10.  that is a $343% decline.

NI was ($3MM) in FY08, ($6MM) in FY09 and ($17MM) in FY10.

They have $7MM in equity to cover $51MM in bad loans.

This place is bankrupt, do you have money in this bank, the FDIC is also bankrupt.

It didn’t take this management team long to wipe out this bank!

Why hasn’t this bank been shut down?

Do you have money in this place?

Bank and Trust?

With $51MM in bad loans and $7MM in equity.

Take a look at Q1, they lost another $4MM, the equity position is below $3MM.

For some reason, they forget to put the financial statements on the web site?

This management team might have set a record in bankrupting this disaster.

This bank is about to fall into the Atlantic.

I would not bank and trust with this place.

Atlantic Bankrupt and Trust.

Communityone Bank Ashboro, NC

Communityone Bank of Asheboro, NC was founded in 1907.  They have a Texas ratio of of 321%.  They entered into a consent agreement on 7/22/10,   The stock was delisted on March 22 2011.  They need to raise $300MM in capital by July 31 2011 or they are in default with SunTrust on their subordinated debt.

Take a look at Q2 2011,  they lost $91MM.  The resulting equity is ($58MM).  This bank is history.  Why aren’t they closed down?

They are on the under capitalized bank list with tier 1 risk based capital of (.87%), that means they are bankrupt

They have $1.9B in assets, with $1.2B in loans.

Problem loans that are 30-90 days past due are $25M, non accrual loans are $152MM and OREO is $65MM.  This is supported by $46MM in equity.

The equity position eroded from $265MM in FY08, down to $45M in FY10. That is down 475% .

They lost $86MM in FY09 and $108MM in 2010.

The market Capitalization is $3MM, this stock is trading at 7% of equity (though they are delisted)

Why isn’t this thing closed down?

This could be the most under capitalized banks in the country

Do you have money in this disaster?

Cadence Bank Starkville MS

Cadence Bank of Starkville, MS was founded in 1887.  They have  entered into a consent order with OCC, the  Texas ratio is  84%.

They have $1,722B in assets, consisting of $885MM in loans

Problem loans consist of $14MM that are 30-90 days past due, $121MM are on non accrual and $30MM are in OREO.

NI was ($32MM) in FY10 and ($108MM) in FY09.

Capitalization was $204MM in FY08 and was eroded to $106MM in FY10, resulting in a  92% decline in the capital base.

First Guaranty Bank and Trust of Jacksonville, FLA

First Guaranty Bank and Trust of Jacksonville, FLA was founded in 1947.   They entered into a consent order with the FDIC on 8/11/10 based on weakness in asset quality, management, earnings, capitalization and liquidity.  The Texas ratio is 330%

The asset base is $440MM with loans of $302MM.

The problem loans include $20MM in loans 30-90 days past day, there are  $90MM in non accrual loans and $14MM in OREO.  Get this, 40% of the loans are delinquent.  They have $124MM in bad loans were supported by $12MM in capitalization.

This company is probably technically insolvent.

Net income was ($15MM) in FY10, ($7MM) in FY09 and ($8MM) in FY08MM.

They lost another $2.6MM in Q2, the equity position is now down to $9.7MM

Guaranty and Trust are probably two words that shouldn’t be used to describe this disaster.

Do you have money in this bank?

First National Bank of Central Florida, Winter Park, Fla.

First National Bank of Central Florida was founded in 1985.  They entered into a formal agreement with the OCC on 7/7/09.  The Texas ratio of 493%.

The asset base is $397MM, with $245MM in loans.

Net income was ($2MM) in FY08, ($5MM) in FY09 and ($31MM) in FY10.

Problem loans consist of $3.6MM of loans past due 30-90 days, $92MM on non accrual and $15MM in OREO, representing about 45% of all their loans.

The equity position eroded from $34MM in FY09 to $5MM in FY10 a decline of 580%.

They haven’t updated their financial results sine 2/09.

Do you have money here because the FDIC is also bankrupt

Central Progressive Bank Lacombe, LA

Central Progressive Bank was founded in 1967.  They have a cease and desist order from the FDIC in 2007 and 2009.  The Texas ratio is 269%. “Progressive”, they are progressing into insolvency.

The assets are $421MM, with loans of $239M and equity of $2MM.

There are $1,231M in loans at 30-90 days past due, $36MM are on non accrual and OREO is $85MM.  That equates to 50% of the portfolio.

NOI was  FY08 ($32MM), FY09 ($2MM) and FY10 ($5MM).

This place is bankrupt, they lost $19MM in Q3 2011, wiping out 950% of the equity in 90 days.

The remaining equity is $2MM.

This bank is bankrupt.

Progressive is the operative word.

Progressing toward insolvency.

They do have an impressive display of OREO properties for sale.

Looking for swamp land near the Mississippi?

This place likes to finance vacant land.

For some reason they won’t tell you who the management team is?

Eastern Savings Bank Hunt Valley Maryland

Check out the website we are linked to the FDIC

CAPITAL2RISK.COM

occupywallstreet.com

Beth Goldsmith runs this disaster, she is running a train wreck 

This is one of the worst banks in the state

Good thing these dopes have time to golf

These clowns are sitting on $272,000,000 in bad loans and are playing golf?

Eastern Savings Bank Hunt Valley, MD, was established in 1905.  They entered into to cease and desist agreement with the OTS on 2/20/09.  The Texas ratio is 506%.

Check out Michael Barret on the left he is a VP at on of the worst banks in America but he has time to play golf

His bank is on the problem bank list

These fat slobs aren’t going hungry

Why isn’t this disaster shut down

This bank is a joke

This could be the worst bank in the state

The bank has assets of $754MM, loans of $492MM.

Past due loans at 30-90 days are $40MM, non accrual loans are $233MM, there are $56MM in troubled restructured debt and $109MM loans in foreclosure.  That’s $438MM of problem loans out of $492MM in total loans, that’s 89% of the portfolio.

They have $438MM in problem assets with $60MM in equity.

Net income was ($65MM) in FY09 and ($30MM) in FY01.

This bank is insolvent.

Why hasn’t the regulators shut this disaster down?

Do you have money in this place?

Beth Goldsmith bankrupted this place

This thing is bankrupt, then again so is the FDIC.

Colorado Capital Bank Castle Rock, CO

Colorado Capital Bank, capital is the operative word here, was founded in 1998.  The company has $919MM in assets.  With $34MM in equity.  The Texas ratio  is 415%, this makes it the worst bank in Colorado.  They have $34MM in capital  with $617MM in bad debt, capital is not their strong point.

On 9/9/2010 they entered into a consent order with the FDIC.  They were cited for having violations consisting of low levels of capital, high levels of problem loans, concentrations of credit and negative earnings. You should read it, it is comical!

This bank could be the worst in Colorado based on capitalization.  The Tier 1 capital levels are 2.7%, well under the 4% requirement.  The total capital ratio is 4.77% well below the 8% requirement.  This place is severely  under capitalized.  Colorado under Capitalized Bank.

This is one of the worst capitalized banks in the country.

They lost another $5MM in Q1 2011, the equity is down to $15MM, this place is going under soon.

This thing is bankrupt.

The net income for 2010 was ($66MM), compared with ($54MM) in 2009, this allowed them to erode their capital base from $85MM in FY09 to $34MM in 2010.  That’s 162%.

The company states that they work with non profits, that is a good business model  because they are a non profit!.

So if they have $422MM in bad debt supported by $34MM in so called equity, don’t you think this place  is bankrupt!

How come the FDIC hasn’t closed this bank down? Well because the FDIC is also bankrupt.

Imagine having your savings here, the bank is bankrupt and the FDIC is bankrupt.

They have $312MM in 30-90 past due loans, with $110MM on non accrual.  With $617MM in total loans, that makes 68% of the portfolio past due.

This  company has, 60 advisory board members.  Good thing they were keeping an eye on things.

Is this your bank?

The runoff from the Rockies is going leave this place sitting in the Mississippi.

Their only salvation is if the world ends on 5/21, I guess it didn’t.

They say your deposits are guaranteed by the FDIC

The FDIC is bankrupt

Do you have money in this thing.

Look on the bright side, when this place goes bankrupt, you can use the branches for medical marijuana dispensaries.

Under capitalized, they are beyond bankrupt.

With $15MM in equity and $176MM in non accrual, this disaster won’t survive through Q2.

How is the capital restoration plan going?

Capital restoration, how about capital destruction.

Change the name to, Colorado unacceptable capital restoration plan bank.

Lisa McKean should be in jail for managing this abortion.

Maybe she could get a decent haircut with amount of money she steals.

Lisa show us the money.

When is this abortion going to end?

Community Banks of Colorado Greenwood Village Colorado

Community Bank of Colorado was founded in 1981, they entered into a written agreement with the regulators on 4/6/09, for operating with inadequate capital levels.  The Texas ratio is 163%.

The bank is also one of the worst capitalized banks in the country.  The tier 1 risk based capitalization is 4.57%, significantly below the 8% target rate.

They had NI of ($66MM) in 2010 and ($54MM) in 2009.  As a result the eroded their capital levels from  $116MM in Fy09 to $54MM in 2010, a 115% decline.

They have assets of $1.14B and equity of $54MM.

They have $11MM in loans 30-90 days past due, $156MM in non accrual loans and $37MM in OREO.

With $167MM in pas due loans and $54M in equity.

This place is insolvent!

You have to love their motto “Lifestyle Banking a 3 legged stool”

This place doesn’t have a leg to stand on.

The portfolio is looking like a stool.

This is a zombie bank.

Donald Mcg. Woods did a great job of bankrupting this place, this guy should be locked up.

Do you have money in this mess.

Advantage Bank Loveland Colorado

 

capital2risk.com

Advantage  bank lost $11,699,000 in Q4 2011 wiping out half of the remaining equity in only 90 days

This disaster is sitting on $70,000,000 in junk loans with only $14,000,000

Advantage bank is f$$cking bankrupt

The efficiency ratio is 181%, these idiots lose money just opening up the doors

The Texas ratio is 281%

This is the worst bank in Colorado and that is saying a lot

Check out ROE (68%)!

“Advantage Bank” was founded in 2000. The  Texas ratio is 178%.

The bank entered into a cease and desist order on 10/2/09.  They were cited for operating with negative: equity, management, liquidity, earnings, and delinquency.

The company has assets of $353M and supposed equity of $19MM.

Do you have money in this bankrupt disaster?

The company has $36MM in non-accrual loans and $29MM in OREO.

With $66MM in problem loans and $19MM in equity, this place is bankrupt

Why haven’t the regulators shut them down?

NOI was ($17MM) in FY2010 and ($6MM) in FY09.   They lost another $7MM in Q2 FY11.

Besides making bad loans, they are also good at losing money!

This place does have an advantage but it is not the management team.

They claim to be experts in commercial real estate?

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

Check out the news on their website.  It is under construction.

The news is they are bankrupt!

Is this your bank?

You might be at a disadvantage.

Do want  to have your money in a bank that is on the  problem bank list?

That is not an advantage!

They somehow forget to tell you, who the management clowns are.

The CEO Tom Chinnock states that they are an expert in commercial real estate?

Tom Chinnock is an expert at losing money, making bad loans and running this place into the ground

They are on the problem bank list and insolvent, experts.

Then again, they won’t post financial information.

Do you have money in this disaster, that is not an advantage.

It didn’t take Tom Chinnock long, to bankrupt this thing.

The bank lost $11MM in Q3 2011.  The equity position went from $26MM to $14MM.

Tom Chinnock destroyed 86% of the equity in only 3 months.

This bankrupt entity now has $66MM in bad loans with $14MM in equity, they could be bankrupt by year end.

Gotta love this place

Bank of Choice Greeley Colorado

Check out this clown “Joe Bonner” you can’t make a name like that up

This could be the worst bank bank in the state

Would you trust your money with this dope?

This bald headed idiot is on the problem bank list

  This dumb a$$ss is also on the under capitalized bank list

This joker gets a BONNER on financing vacant land

This bold headed fart lost over $100,000,000 in 2 years

Joe should be in jail, that would give him a BONER

Take your money out of this bank, this place is bankrupt

This is Joe Bonner, runs probably the worst bank in Colorado

Joe like to finance vacant land

The Bank of Choice, Greeley, CO is the worst bank in Colorado and they are the bank of choice?   The Texas ratio is 220%, I think they made a few unwise choices.

They entered into a consent agreement with the regulators on 5/6/10 based on problem assets, weak earnings and insufficient capital.  I don’t think they have quite figured out on how to solve this disaster.

This bank is severely under capitalized with tier 1 risk based capital of 4.77% which is significantly below the 8% target.

 

The company has $1,233B in assets.  However, this group are pro’s at losing money, NI for FY09 was ($48MM), they did even better in FY10 with NI of ($59M), not bad for having equity of only $27MM.  They should be able to blow through the rest of the equity by year-end.

These people  might want to figure out on how to make a loan.  They have $28MM in loans 30-90 days past due, get this, they have $110MM in loans on non-accrual and $39MM in OREO. It looks like this bank has some real estate for sale.

The efficiency ratio is 150%, I guess efficiency is the operative word.

They have 13 people in the special assets group, at least these folks have some job security.

So they have $27MM in equity with $177M bad assets, do think the regulators might want to close this place down? I would guess that this bank is insolvent.

This is definitely the Bank of Choice.

If I had my money in place and I had a choice, I might head for the hills.

They do have a good deal of vacant land for sale, that is choice.

If you had a choice, you would be better off giving your money to Bernie Maddoff.

Do you have money in this place, watch out for the meltdown.

First Choice Comminty Bank Dallas, Georgia

The First Choice Community Bank was founded in 2007.  The Texas ratio is 900%.  Probably not my first choice!

NI was  ($42MM) in FY10 with an ROE of (338%).

The company has $261MM in loans and equity is ($7MM).

Problem loans consist of  $8.6MM  past due  30-90 days, with $2.6MM over 90 days and there are $104MM loans on non accrual.  That is $115MM in problem loans supported by ($7MM) in equity.

The efficiency ratio is 196%.

Virginia Business Bank Richmond, VA

Virginia Business Bank founded in 2006, and have a Texas ratio of 165%

They have $3MM in equity.

However, they have $3MM in loans 30-90 days past due, $1.7MM past dues over 90 days and get this $12.6MM on non-accrual for a total of $17MM in bad debt, supported by $3MM in equity.

They entered into a consent order on 8/25/09 with the regulators.

NI was ($2MM) FY08, ($4MM) FY09, ($6MM) FY10.

On 10/5/2010 they withdrew a $30MM stock offering due to challenging market conditions?

What is challenging is having no equity

It didn’t take them long to wipe this thing out.

Do you have money in this bank?

This place is bankrupt.

This bank is in the business of losing money.

Town of Arlington MA Retirement System

The town of Arlington, MA has a  retirement system that is 55% funded in 2010 versus 75% in 2008.  The minimum requirement (Chapter68) by the State is 65%, I think these people have a problem.  Don’t worry town employees, it is estimated that this will be fully funded in 23 years, everything will be fine by 2031.  However, that is assuming an annual return of 7.75% for the next 23 years, highly unlikely.  I guess that assumes you have better managers than the one’s who have lost 50% of the funds value in the last 2 years?

The unfunded portion was $48MM in 2008 and is $95MM in 2010, what the hell happened.  The town must have one savvy money manager.  It seems to me the market has come back to pre-recession levels.  The employees should not plan on  getting sick for the next 31 years. How can I get a job with this town?

The Bank of Southern Connecticut New Haven, CT

The company has $127MM in loans.  It has $14MM in equity unfortunately it has $1.6MM in loans past due and $6MM in non accrual.  The resulting Texas ratio is 40%, not bad.  Besides losing $1MM in FY2010 and $2.3MM in 2009, the $6MM in bad loans could effectively wipe out 50% of their equity

The efficiency ratio is 85%, these guys are a cash flow machine.

The company was founded in 2001, didn’t take long for this management team to run this thing into the ground.  That’s right I forgot, real estate can never go down.

The market cap is $8MM which is probably generous for this thing.

Maybe this stock of junk should be delisted?

The were cited for having negative earnings, asset quality, capital and liquidity.  the only thing they forgot was management.

The company forgot to post a shareholder letter on the website since 2007?  Probably busy fixing the  loan portfolio, can’t blame them.

These savvy financiers forgot to post their quarterly earnings on their website since the first quarter of 2009, guys it’s a little hard to cover  financial results when you are public, duh. Hire Charlie Sheen as the Credit Officer you guys are winning!

The Bank of Wilton Wilton, CT

Might as well hire this guy as CEO

He can’t rub out and more cash than the current management has

The Bank of Wilton is on the problem bank list as it entered into a consent order with the FDIC on 7/22/2010.  This was based on weakness of management, asset quality, earnings quality  and capital,  that pretty much covers everything.

The bank has $84MM in assets of which $47MM are loans.  There are $27MM  of loans that are on non-accrual.  Who hired these guys, 57% of the loans are on non accrual?  Is this Fairfield County or Palm Beach?  I can see the guys in Florida making bad loans but aren’t these guy’s in CT the smartest guys in the world?

The company has $13MM in equity and $27MM in non accrual loans, do you think they are insolvent?  Maybe the FDIC should shut this thing down.

Interest income $2,335MM overhead $3,611MM, maybe they don’t need 12 VP’s.

The company hasn’t posted an Annual report on their website since 2007, they must be to busy making more bad loans.

Do you have money in this place??

The Bank of Canton Canton, MA

The Bank of Canton has assets of $661M.  Their Texas ratio is 50%, the fifth highest in the state!

Their portfolio consists of loans past due 30-90 days $3.5MM and non accrual loans of $18.5MM, that is pretty scary with only $52MM in equity.  This bank has survived since 1885, the time of the Civil War, 126 years.  This management team is making a good effort to wipe it out.

The efficiency rate is a staggering 82%, maybe management should take some pay cuts based on their less than stellar performance.

The company has negative asset quality and capitalization, coupled with high overhead, high levels of non performing assets and high exposure to Commercial Real Estate.  Holy Cow, maybe the regulators should stop by and slap them on the bad bank list?

First Trade Union Bank Boston Massachusetts

Hold on, this is Paul Bolger

                                                                                     This is the guy who was instrumental in bankrupting Sovereign Bank

First Trade Union Bank, Boston, MA has entered into a Supervisory agreement with the OTS on 1/7/2010.  They were cited for having insufficient capital , making high risk loan, insufficient underwriting and portfolio management among other things.  Wow, if those clowns at the OTS can catch you, this management team mus be completely incompetent!  They had another Supervisory Agreement in 1991, these guys are savvy.

The company has assets of $614MM, their Texas ratio is 23%, one of the highest in the state.  Net Operating income was ($5MM) in FY10.

They have $53MM in capital.  Problem loans consist of $5MM in 60-90 days past due, $16.7MM on non-accrual and $12.5 in foreclosure.  They are making a good effort at eroding their capital base, wonder why the OTS though they had insufficient capital?

The efficiency ratio is 69%, not stellar.

The report stated that they had negative: asset quality, capital and liquidity.

They forgot to post their FYE2010 annual report on their website, could that have something to do with the $5MM loss?

Do you have money in this place?

Hire Whitey Bolger, at least he knows how to make money.

                                                                                                                 Might want to go with this Bulger

North Middlesex Federal Savings Bank Ayer, MA

This could be Karen Thorne

North Middlesex Federal Savings Bank was founded in 1885.  It is rated as 1 on a scale of 1-5, giving it the lowest rating on the banking scale.  It was rated as having negative earnings and negative levels of capital.

The company has $336M in assets.  Earnings were very weak in FY10, net operating income was ($6.8MM), it lost another $1.6MM in FY08.  The efficiency ratio for the firm was terrible at 85%, this might have something to do with a company this small having 23 officer’s and 7 seven branches.  Cost containment might be a wise decision for this ineffectual management team.

The Texas ratio was 31%, which is one of the worst in Massachusetts.

The bank has $26MM in equity, not much for being in business 126 years.  They have $9MM in problem loans which, potentially could wipe out significantly levels of the already weak capital base.

They forgot to include the income statement in their annual report, this might have something to do with negative net operating income of 6.8MM, shocking!

Do you have money in this bank because the FDIC is bankrupt.

Holbrook Cooperative Bank Holbrooke, MA

Holbrook Cooperative Bank entered into a consent order with the FDIC on 10/6/2010.  It was sighted for unsafe and unsound banking practices including but not limited to poor credit , ineffective underwriting standards, excessive volume of criticised assets, deficient earnings deficient capital.  Sounds like a great operation.

Here is Paul Falvey, he runs this abortion 

This looks like Meg McIssac

Meg likes to engage in unsafe and unsound lending practices

However, Meg is not limited to poor credit, ineffective underwriting standards, excessive volume of criticised assets

The emperor has no clothes

this is the guy he ran this place into the ground

The company has assets of $74MM.  For FY2010, net income was ($1,666M) which allowed them to effectively wipe out 20% of their equity last year.  The Texas ratio was 27% making them one of the worst banks in the state.  The efficiency ratio was a horrible 86%.

The company has $8MM in equity however, there is about $3MM in delinquent loans which could effectively wipe out another 40% of the remaining equity.  This would leave them effectively insolvent.

The company was cited for having below average asset quality and capital.

The company was founded in 1888, it took 123 years to grow to $74MM in assets, that’s $600K a year in asset growth.  What does this company book one loan a year?  This management team has succeeded in destroying a 123 company in two years.

The question is why hasn’t the FDIC closed inept organization.

Hopefully you don’t have money in this place, they are bankrupt and so is the FDIC.

Stoneham Savings Bank Stoneham MA

Stoneham Savings Bank, Stoneham, MA entered to a consent order with the FDIC 1/26/2010 which allowed them to get on the problem bank list.  The reasons cited were incompetent management and inadequate capital among other things.   They have the distinction of being the 3rd worst bank in Massachusetts with a Texas ratio of 69%.   The bank has been in business since 1855 and the current management team is doing a good job of running it into the ground.

This is the worst capitalized bank in the state with a total tier 1 risk based capitalization of 7.74%, which is below the 8% requirement.

At FYE 12/31/10 NOI was ($15,750M), down from ($9,219M) in 2009.  The efficiency ratio was a pathetic 131%.  They might want to consider closings down some of those 10 branches.

The equity position is down 52% since 2008.  However, this helped improve the return on equity to (19%) in 2010 down from (29%) in 2009.

The company has $10MM in OREO and $7MM in non accrual.  The allowance for losses is $2MM.  These problem loans could effectively wipe out the remaining equity.

The company was cited for having negative earning, asset quality and capital.  What else is there?

They are probably technically insolvent, the question is why hasn’t the FDIC shut this thing down?

Do you have money is this disaster because the FDIC is also insolvent.

Check out the website, it is under construction?

While the bank is under destruction.

The website is coming soon, so is Armageddon.

They have a pretty savvy  website for your on line banking.

Central Bank Somerville Massachusetts

Central Bancorp Somerville,MA (CEBK)  received $10MM in TAARP on 12/05/08 and has not repayed the loan despite demonstrating profitability and paying dividends.

For the nine months ended 12/31/2010, the company had NI of $1.4MM with a dividend distribution of  $1MM.  At this level of profit generation, it would take them 10 years to pay back the government funding.   As the efficiency ratio is a horrible 74%, it doesn’t appear likely that they will be able to substantially increase NI in the near term.

Executive pay:

This could be John Doherty at the Burren, spending his $661,000  

John Doherty            $661,346

William Morrisey      $468,690

Paul Feely                    $239,260

Total                           $1,369,296

Executive salary continuation agreement

Upon retirement until death, John Doherty will receive 50% of his salary and William Morrisey will receive 40% of his.

The investors are paying John Doherty money to the day he dies! Savvy investment.

The new director Gerald Mulligan was given $209K in stock.

This horribly run institution makes no effort to pay back the government funding which bailed them out.  The three directors pay themselves almost more than the company generates for it’s investors.

At 12/31/2010, the equity position is reported to be $46MM however, the government funds are reported as preferred stock.  The government funding is not preferred stock, it is actually a loan that needs to be paid back, preferred stock is equity that doesn’t require being repaid just dividend payments are required.   Backing out the so called preferred stock the equity position is $36MM.

On 12/31/2010, the company reported $2,155M in passed due loans (30-90 days), they had $11,224M in non-accrual loans, for a total of $13,379M in potential losses in their equity.  If these losses are realized, the resulting equity position would erode to $23MM.  With $511MM in assets the actual capital levels could be 5%.  This probably explains why the company is trading at 50% of book.

This company should be on the problem bank list due to it’s percentage of problem assets, potentially inadequate capital, inability to payback TAARP funding and excessive executive pay.  Why aren’t the regulators addressing these issues?

Do you have money in this place?

When are they going to start paying back the tax payers.

Maybe the regulators should ask John Doherty, why he can’t pay the tax payer back the $10MM he took but he is able to pay himself $641MM.

This pathetic management team makes more than the whole company makes in a year.

Why pay back the tax payer, these 3 are going to steal their cash until the end.

How are these clowns creating shareholder value?

Do you have money in this place?

Middlesex Federal Savings Bank Somerville MA

Take a look at the new site capital2risk.com!

Cease and desist, this place is legal where is Mark Collins and Joe Smarlz?

Middlesex Federal Savings Bank located in Somerville, MA has entered into a Supervisory agreement with the OTS on 11/10/2010.  This was based on unsafe lending practices, particularly high risk construction loans.  The bank also had a cease and desist order in 2004.

Where is Mark Collins?

Where is Joe Smarlzs?

The current agreement stipulates that the company cannot refinance or extend existing loans.  In addition, it requires a management succession plan as well as changes in Directors and Senior Executives.

Middle sex has the fourth highest Texas ratio in Massachusetts at 66%.  At 12/31/10, they had equity of $39MM.  However, they have $17MM in non-current loans and $11MM in OREO.  This delinquent loans will effectively negate 72% of the equity in the company.  The loan loss reserve is significantly inadequate at 19%.

The company has $241MM in loans.  At  FYE 2010, the company had losses of $4,440M, with combined 3 year losses of $13,917M.  The efficiency ratio is abysmal at 92%.

In 2010, the VP of lending Mark Collins was banned by the OTS from working in the financial services industry for engaging in unsafe practices, personal dishonesty and miss using authority.  He is facing up to 5 years in prison and fines up to $1MM.

This company is effectively a Zombie bank and should be liquidated.  Management has not demonstrated an ability to  correct this situation.  If the company had the right loan loss reserves, the equity position would be wiped out.  If the OTS were doing its job, it would close this institution.

Do you have money in this bank? They are insolvent and so is the FDIC.

Has anyone seen Mark Collins around?

How come they don’t post the financial statements on the website?

This place can’t lend anymore, shocking.

How is that management succession plan coming?

What is the plan for the change in directors and ” senior executives”?

So, Joe Smalarz single-handedly destroyed a 121 year financial institution?

Do you have money in this place?

Check out the website, impressive. Designed by Mark Collins

Whitey Bulger is back, he can take over for Mark Collins.