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??

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2 Responses to “The Bank of Wilton Wilton, CT”

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