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!

Tags: executives paid despite non payment of bailout fund, Non repayment of Gov. bailout funds