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.


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