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.

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2 Responses to “Bank of Choice Greeley Colorado”

  1. Mika Brodtmann Says:

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    • capital2risk Says:

      thanks a lot for the comments, keep them coming, I’ve been editing the existing posts, so hopefully things are improving, tell your friends

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