Old Harbor Bank Clearwater Florida

Old Harbor Bank Clearwater Florida was founded in 2003.  The bank is on the problem bank list after it entered into a consent order with the regulators for poor commercial real estate lending.  They were cited for unsafe, unsound lending and violations of the law.  They also have weakness in management, capitalization and earnings.  That could explain why the Texas ratio is 368%.  The stock is delisted

The tier 1 risk based capital is 1.72% far below the 8% target.  The regulators stated that they need to raise significant levels of capital, in order to fix their negative going concern value.

This one of the worst capitalized banks in the country!

They have $226MM in assets and $5MM in equity.

The management team was able to eradicate 300% of the equity.

Also, they wiped this place out in record time.

The problem loan portfolio is $36MM, all of which are on non accrual.

The bank has $36MM in non performing loans with $5MM in equity.

This bank is insolvent.

Net income was ($6MM) in FY10, ($8MM) in FY09 and ($3MM) in FY08.

Take a look at the financial results for Q1, they lost another $1.4MM, which wiped out another million in equity, dropping the equity position to $3.9MM.

At this rate they should soon be insolvent.

This bank will be rolling into the old harbor soon enough.

Is this your bank, this thing is going  out with the tide.

McIntosh State Bank Jackson Georgia

McIntosh State Bank Jackson, Georgia was founded in 1964.  This place is a disaster.  They are on the problem bank  list for incompetent commercial real estate lending based on their cease and desist order.  The stock is delisted

The Texas ratio is, check this out 696%, can’t get much higher than that. They are one of the worst banks in Georgia and that is saying a lot.

They are so under capitalized it is amazing, tier 1 risk based capitalization is 2.54%, making them one of the worst in the country.  That is slightly below the 8% target!

The company has assets of $341MM with equity of, get this $7MM?

The problem loan situation is incredible, they have $74MM in problem loans.

The bank has $74MM in problem loans with $7MM in equity.

William Malone the CEO has wiped the equity position out by 400% in 3 years.

Net income was ($12MM) in FY10, ($8MM) in FY 09 and ($7MM) in FY08.

They might want to start printing Confederate money.

Do you think this place is bankrupt?

At least the execuitves haven’t had to suffer for distroying this bank.

William Malone     made $358k

Thomas Willis        made $325k

James Doyle           made $156k

That is good pay for wiping out a company.

William Malone you have a good gig, they pay you $358k to rack up $27MM in losses, destroy 400% of the company equity and book $74MM in bad loans.

This guy has it made.

Looks like the apple doesn’t fall far from the tree.

They have not posted a financial statement on their website since 2009.

Take a look at the website, when the first thing you see is real estate for sale, that is a problem.

Check out how much vacant land they have for sale. Phenomenal.

This thing is a train wreck.

Is this your bank?

Heritage Bank Jonesboro Georgia

Heritage Bank Jonesboro Georgia was founded in 1955.  They are on the problem bank list after signing a consent order for essentially pathetic commercial real estate lending.  The stock is delisted.  The Texas ratio is 191%, ouch.

They are also on the list of under capitalized banks with tier1 risk based capital of 7.75%.

They have assets of $394MM and equity of $18MM.

The bank has $43MM in problem loans.

With $18MM in equity and $43MM in problem loans, this place is insolvent.  The non accrual of $24MM alone will wipe them out.

Why isn’t this thing shut down.

The management team destroyed 89% of the equity in 3 years.

Check out the real estate for sale on the website.  This place likes to finance vacant land.

They have forgotten to post the financial statements since 2007.

They have not posted news since 2009.

Here is a news flash, they are bankrupt!

Do you have money in this place?

They have a heritage of making bad loans.

They are Jonesing for cash in this boro.

Need that cash to feed that jones.

Legacy Bank Boca Raton Florida

Legacy Bank Boca Raton, Florida was founded in 2006.  That was a smart time to open up a bank.  For some reason, they are not on the problem bank.  The problem loan list is very competitive in Florida.  It is probably because the Texas ratio is only 56%.  Believe me, this place has problems.

They have $333MM in assets with $24MM in equity.

Check out the problem loan portfolio.  They have $50MM in problem loans, with $25MM on non accrual.

The bank has  $50MM in bad loans with $25MM in equity?

This place is bankrupt.

Why aren’t they shut down?

Why aren’t they on the problem bank list.

At least they are on the list of under capitalized banks.

Is this your bank?

Their legacy  is wiping this bank out in record time.

PrimeSouth Bank Blackshear Georgia

PrimeSouth Bank Blackshear Georgia was founded in 1891.  For some reason they aren’t on the problem bank list.  That is probably because the Texas ratio is only 96%.  Becoming a problem bank in Georgia is very competitive these days.

They have assets of $421MM with equity of $32MM.

The problem loan portfolio is incredible at $36MM, with $32MM on non accrual.

With $36MM in problem loans and $32MM in equity, this place is insolvent.

Why isn’t this bank closed down?

Then again, why aren’t they on the problem bank list?

For some reason, they don’t like to publish the financial statements on the website or tell you who the management team.  With this financial performance, I would be in hiding also.

Do you have money in this bank?

This bank is primed to go south.

Gwinnett Community Bank Duluth Georgia

Check out the new site!

capital2risk.com

is is Thomas Martin, he runs one of the worst banks in the country, he we was cited for hazardous lending?

This fat cat lost $3,746,000 in Q4 2011 alone

Thomas Martin wiped out 18% of the equity in the last 90 days

This fat slob is sitting  $100,000,000 in junk loans, with only $17,000,00 in equity

Is this a ponzi scheme?

Gwinnett Community Bank Duluth Georgia was founded in 1999.

This is Tom Martin

The company is on the problem bank list, as it entered into a cease & desist order with the FDIC.  The were cited for engaging in unsafe and unsound lending practices and violations of the law!  The bank has inadequate management, capital and earnings as well as practicing hazardous lending. Maybe that is why the Texas ratio is 277%.

This bankster is not going hungrey

Do you think the Martin’s should be replaced?  It didn’t take long for the Martin’s to run this place into the ground.  Maybe the Martin’s should be in jail for hazardous lending practices and violations of the law!

This cat should be CEO, can’t dumber than the Martin’s

The bank has $507MM in assets and $20MM in equity.

The problem loan portfolio is staggering in relation to the equity position.  They have $67MM in bad loans with $52MM on non accrual.

With $99MM in problem loans and $17MM in equity, this place is bankrupt.

Why hasn’t this bank been shut down?

They are also under capitalized, with tier 1 risk based capitalization of 7.17%

For some reason they don’t want to post the financial statements on the website, I guess with numbers this bad, I wouldn’t either.

Are you letting the Martin’s have your money? They bankrupted this place

This is one of the worst banks in the country.

FEDERAL DEPOSIT INSURANCE CORPORATION
WASHINGTON, D.C.
_____________________________________
)
In the Matter of
GWINNETT COMMUNITY BANK
DULUTH, GEORGIA
(Insured State Nonmember Bank)
)
)
ORDER TO CEASE AND DESIST
FDIC-09-223b
)
)
)
)
_____________________________________ )
GWINNETT COMMUNITY BANK, DULUTH, GEORGIA (“Bank”), having been advised of its right to a NOTICE OF CHARGES AND OF HEARING detailing the unsafe or unsound banking practices and violations of law and/or regulations alleged to have been committed by the Bank and of its right to a hearing on the alleged charges under section 8(b)(1) of the Federal Deposit Insurance Act (“Act”), 12 U.S.C. § 1818(b)(1), and having waived those rights, entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER TO CEASE AND DESIST (“CONSENT AGREEMENT”) with a representative of the Legal Division of the Federal Deposit Insurance Corporation (“FDIC”) and the Commissioner (the “Commissioner”) for the State of Georgia, Department of Banking and Finance (the “Department”), dated August 28, 2009, whereby solely for the purpose of this proceeding and without admitting or denying the alleged charges of unsafe or unsound banking practices and violations of law and/or regulations, the Bank consented to the issuance of an ORDER TO CEASE AND DESIST (“ORDER”) by the FDIC and the Commissioner. The Commissioner may issue an order to cease and desist pursuant to Official Code of Georgia Annotated § 7-1-91 (1985).
The FDIC and the Commissioner considered the matter and determined that they have reason to believe that the Bank has engaged in unsafe or unsound banking practices and has
committed violations of law and/or regulations. The FDIC and the Commissioner, therefore, accepted the CONSENT AGREEMENT and issued the following:
ORDER TO CEASE AND DESIST
IT IS HEREBY ORDERED, that the Bank, its institution-affiliated parties, as such term is defined in section 3(u) of the Act, 12 U.S.C. § 1813(u), and its successors and assigns cease and desist from the following unsafe or unsound banking practices and violations of law and/or regulations:
(a) Operating with a board of directors (“Board”) that has failed to provide adequate supervision and direction to the management of the Bank;
(b) Operating with inadequate management whose polices and practices are detrimental to the Bank and jeopardize the safety of its deposits;
(c) Operating with inadequate equity capital in relation to the volume and quality of assets held by the Bank;
(d) Violating regulations described on pages 9 and 10 of the FDIC Report of Examination dated February 23, 2009 (“Report”);
(e) Operating with an excessive volume of adversely classified and special mention assets;
(f) Operating with an inadequate allowance for loan and lease losses (“ALLL”);
(g) Operating with an ineffective loan review and grading program;
(h) Operating with inadequate loan policies and following hazardous lending practices;
(i) Operating with inadequate liquidity and funds management in light of the Bank’s asset and liability mix;
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(j) Operating with a business strategy that has resulted in unprofitable operations and poor asset quality; and
(k) Operating with inadequate policies and procedures to monitor and control risks associated with concentrations of credit in the Bank’s loan portfolio.
IT IS FURTHER ORDERED, that the Bank, its institution-affiliated parties, and its successors and assigns take affirmative action as follows:
DIRECTORS
1. (a) Immediately upon the effective date of this ORDER, the Board shall increase its participation in the affairs of the Bank, assuming full responsibility for the approval of sound policies and objectives and for the supervision of all of the Bank’s activities, consistent with the role and expertise commonly expected for directors of banks of comparable size. This participation shall include meetings to be held no less frequently than monthly at which, at a minimum, the following areas shall be reviewed and approved: capital adequacy; liquidity; classified and criticized assets; reports of income and expenses; new, overdue, renewal, insider, charged-off, and recovered loans; investment activity; operating policies; and individual committee actions. Board minutes shall document these reviews and approvals, including the names of any dissenting directors.
(b) Within 30 days from the effective date of the ORDER, the Board shall establish a Board committee (“Directors’ Committee”), consisting of at least five members, to oversee the Bank’s compliance with the ORDER. A majority of the members of the Directors’ Committee shall not be officers of the Bank. The Directors’ Committee shall receive from Bank management monthly reports regarding the Bank’s actions with respect to compliance with this ORDER. The Directors’ Committee shall present a report regarding the Bank’s adherence to the ORDER to the Board at each regularly scheduled Board meeting. Such report shall be recorded 3
in appropriate minutes of the Board’s meeting and shall be retained in the Bank’s records. Establishment of this committee does not in any way diminish the responsibility of the entire Board to ensure compliance with the provisions of this ORDER.
MANAGEMENT
2. Within 60 days from the effective date of this ORDER, the Bank shall have and retain qualified management.
(a) Each member of management shall have the qualifications and experience commensurate with his or her duties and responsibilities at the Bank. Each member of management shall be provided appropriate written authority from the Board to implement the provisions of this ORDER. At a minimum management shall include:
(i) A chief executive officer with proven ability in managing a bank of comparable size and in effectively implementing lending, investment, and operating policies in accordance with sound banking practices;
(ii) A chief financial officer with demonstrated ability in all financial areas including but not limited to, accounting, regulatory reporting, budgeting and planning, management of the investment function, liquidity management and interest rate risk management; and
(iii) A senior lending officer with a significant amount of appropriate lending, collection, loan supervision and loan work-out experience for the type and quality of the Bank’s loans, and experience in upgrading a low quality loan portfolio.
(b) The qualifications of management shall be assessed on its ability to:
(i) Comply with the requirements of this ORDER;
(ii) Operate the Bank in a safe and sound manner;
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(iii) Comply with applicable laws and regulations; and
(iv) Restore all aspects of the Bank to a safe and sound condition, including, but not limited to, asset quality, capital adequacy, earnings, liquidity, management effectiveness, risk management, and sensitivity to market risk.
(c) During the life of this ORDER, the Bank shall provide written notice to the Regional Director (“Regional Director”) of the FDIC and the Commissioner (collectively, “Supervisory Authorities”) when it proposes to add any individual to the Bank’s Board or employ any individual as a senior executive officer as that term is defined in Part 303 of the FDIC’s Rules and Regulations, 12 C.F.R. § 303.101. The notification to the Supervisory Authorities shall comply with the requirements set forth in 12 C.F.R. Part 303, Subpart F. The notification should include a description of the background and experience of the individual or individuals to be added or employed and must be received at least 60 days before such addition or employment is intended to become effective. If the Regional Director issues a notice of disapproval pursuant to section 32 of the Act, 12 U.S.C. § 1831i, with respect to any proposed individual, then such individual may not be added or employed by the Bank.
CAPITAL
3. (a) Within 60 days from the effective date of this ORDER, the Bank shall develop and adopt a capital plan that requires the maintenance of Tier 1 capital in such an amount as to equal or exceed 8 percent of the Bank’s total assets and total risk-based capital in such an amount as to equal or exceed 10 percent of the Bank’s total risk-weighted assets. Thereafter, the Bank shall maintain Tier 1 capital and total risk based capital ratios equal to or exceeding 8 percent and 10 percent, respectively, during the life of this ORDER.
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(b) Within 30 days from the effective date of this ORDER, the Bank shall develop and adopt a plan to meet the minimum risk-based capital requirements for a well-capitalized bank, as described in the FDIC Statement of Policy on Risk-Based Capital contained in Appendix A to Part 325 of the FDIC’s Rules and Regulations, 12 C.F.R. Part 325, Appendix A. The Plan shall be in a form and manner acceptable to the Supervisory Authorities as determined at subsequent examinations and/or visitations.
(c) The level of Tier 1 capital and total risk-based capital to be maintained during the life of this ORDER pursuant to this paragraph shall be in addition to a fully funded ALLL, the adequacy of which shall be satisfactory to the Supervisory Authorities as determined at subsequent examinations and/or visitations.
(d) Any increase in Tier 1 capital and total risk based capital necessary to meet the requirements of this paragraph of the ORDER may not be accomplished through a deduction from the Bank’s ALLL. For purposes of this ORDER, the terms “Tier 1 capital”, “total risk based capital”, and “total assets” shall have the meaning ascribed to them in Part 325 of the FDIC’s Rules and Regulations, 12 C.F.R. Part 325.
DIVIDENDS
4. While this ORDER is in effect, the Bank shall not declare or pay any cash dividends without the prior written approval of the Supervisory Authorities.
REDUCTION OF CONCENTRATIONS OF CREDIT
5. Within 60 days from the effective date of this ORDER, the Bank shall perform a risk segmentation analysis with respect to the Concentrations of Credit listed on the Concentrations page of the Report and any other concentration deemed important by the Bank. Concentrations should be identified by product type, geographic distribution, underlying collateral, or other asset
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groups which are considered economically related and in the aggregate represent a large portion of the Bank’s Tier 1 Capital. A copy of this analysis shall be provided to the Supervisory Authorities. The Board shall develop a plan to reduce any segment of the portfolio which the Supervisory Authorities deem to be an undue concentration of credit in relation to the Bank’s Tier 1 Capital. The plan and its implementation shall be in a form and manner acceptable to the Supervisory Authorities.
CHARGE-OFF
6. (a) Within 10 days from the effective date of this ORDER, the Bank shall eliminate from its books, by charge-off or collection, all assets or portions of assets classified “Loss” and 50 percent of all assets or portions of assets classified “Doubtful” in the Report that have not been previously collected or charged-off unless otherwise approved in writing by the Supervisory Authorities. If an asset classified “Doubtful” is a loan or lease, the Bank may, in the alternative, increase its ALLL by an amount equal to 50 percent of the loan or lease classified “Doubtful”. Elimination of any of these through proceeds of other loans made by the Bank is not considered collection by purposes of this paragraph.
(b) Additionally, while this ORDER remains in effect, the Bank shall, within 10 days from the receipt of any official Report of Examination of the Bank from the FDIC or the Department, eliminate from its books, by collection, charge-off, or other proper entries, the remaining balance of any asset classified “Loss” and 50 percent of those classified “Doubtful” unless otherwise approved in writing by the Supervisory Authorities.
ALLOWANCE FOR LOAN AND LEASE LOSSES
7. Within 60 days from the effective date of this ORDER, the Board shall review the adequacy of the ALLL and ensure the Bank’s written policy for determining the adequacy of the ALLL is comprehensive. For the purpose of this determination, the adequacy of the ALLL shall
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be determined after the charge-off of all loans or other items classified “Loss”. The policy shall provide for a review of the ALLL at least once each calendar quarter. Said review shall be completed within 21 days of the end of each calendar quarter in order that the findings of the Board with respect to the ALLL may be properly reported in the quarterly Reports of Condition and Income. The review shall focus on the results of the Bank’s internal loan review, loan and lease loss experience, trends of delinquent and non-accrual loans, an estimate of potential loss exposure of significant credits, concentrations of credit, and present and prospective economic conditions. A deficiency in the ALLL shall be remedied in the calendar quarter it is discovered, prior to submitting the Reports of Condition and Income by a charge to the current operating earnings. The minutes of the Board meeting at which such review is undertaken shall indicate the results of the review. The Bank’s policy for determining the adequacy of the ALLL and its implementation shall be satisfactory to the Supervisory Authorities.
REDUCTION OF ADVERSELY CLASSIFIED ASSETS
8. (a) Within 60 days from the effective date of this ORDER, the Bank shall formulate a written plan to reduce the Bank’s risk exposure in each asset, or relationship in excess of $750,000 classified “Substandard” or “Doubtful” in the Report. For purposes of this provision, “reduce” means to collect, charge off, or improve the quality of an asset so as to warrant its removal from adverse classification by the Supervisory Authorities. In developing the plan mandated by this paragraph, the Bank shall, at a minimum, and with respect to each adversely classified loan or lease, review, analyze, and document the financial position of the borrower, including source of repayment, repayment ability, and alternative repayment sources, as well as the value and accessibility of any pledged or assigned collateral, and any possible actions to improve the Bank’s collateral position.
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(b) In addition, the plan mandated by this provision shall also include, but not be limited to, the following:
(i) A quarterly schedule for reducing the outstanding dollar amount of adversely classified assets including timeframes for achieving the reduced dollar amounts (at a minimum, the schedule for each adversely classified asset must show its expected dollar balance on a quarterly basis);
(ii) A schedule showing, on a quarterly basis, the expected consolidated balance of all adversely classified assets, and the ratio of the consolidated balance to the Bank’s projected Tier 1 capital plus the ALLL;
(iii) A provision for the Bank’s submission of monthly written progress reports to its Board; and
(iv) A provision mandating Board review of the progress reports, with a notation of the review recorded in the minutes of the meeting of the Board.
(c) The plan mandated by this provision shall further require a reduction in the aggregate balance of assets classified “Substandard” and “Doubtful” in the Report in accordance with the following schedule:
(i) Within 180 days, a reduction of twenty-five percent (25%) in the balance of assets classified “Substandard” or “Doubtful.”
(ii) Within 360 days, a reduction of forty-five percent (45) in the balance of assets classified “Substandard” or “Doubtful.”
(i) Within 540 days, a reduction of sixty-five percent (65%) in the balance of assets classified “Substandard” or “Doubtful.”
(ii) Within 720 days, a reduction of seventy-five percent (75%) in the balance of assets classified “Substandard” or “Doubtful.”
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(d) The requirements of this paragraph do not represent standards for future operations of the Bank. Following compliance with the above reduction schedule, the Bank shall continue to reduce the total volume of adversely classified assets. The plan may include a provision for increasing Tier 1 capital when necessary to achieve the prescribed ratio.
(e) Within 60 days of the effective date of this ORDER, the Bank shall submit the plan to the Supervisory Authorities for review and comment. Within 30 days from receipt of any comment from the Supervisory Authorities, and after due consideration of any recommended changes, the Bank shall approve the plan, which approval shall be recorded in the minutes of the Board meeting. Thereafter, the Bank shall implement and fully comply with the plan. Such plan shall be monitored and progress reports thereon shall be submitted to the Supervisory Authorities at 90-day intervals concurrently with the other reporting requirements set forth in this ORDER.
SPECIAL MENTION ASSETS
9. Within 60 days from the effective date of this ORDER, the Bank shall develop a plan to correct all deficiencies in the assets listed as “Special Mention”. The Bank shall immediately submit the plan to the Supervisory Authorities for review and comment. Within 30 days from receipt of any comment from the Supervisory Authorities, and after due consideration of any recommended changes, the Bank shall approve the plan, which approval shall be recorded in the minutes of the Board meeting. Thereafter, the Bank shall implement and fully comply with the plan.
RESTRICTIONS ON ADVANCES TO ADVERSELY CLASSIFIED BORROWERS
10. (a) While this ORDER is in effect, the Bank shall not extend, directly or indirectly, any additional credit to, or for the benefit of, any borrower who has a loan or other extension of credit or obligation with the Bank that has been, in whole or in part, charged off or classified “Loss” or “Doubtful” and is uncollected. The requirements of this paragraph shall not prohibit
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the Bank from renewing, after collecting in cash all interest and fees due from a borrower, any credit already extended to the borrower.
(b) While this ORDER is in effect, the Bank shall not extend, directly or indirectly, any additional credit to, or for the benefit of, any borrower whose loans are adversely classified by the Supervisory Authorities as “Substandard” or “Special Mention” and is uncollected.
(c) Subparagraph 10(b) shall not apply if the Bank’s failure to extend further credit to a particular borrower would be detrimental to the best interests of the Bank. Prior to extending additional credit pursuant to this subparagraph 10, whether in the form of a renewal, extension, or further advance of funds, such additional credit shall be approved by the Bank’s Board, or a designated committee thereof, who shall certify, in writing:
(i) Why failure of the Bank to extend such credit would be detrimental to the best interests of the Bank;
(ii) Why the extension of such credit would improve the Bank’s position, including an explanatory statement of how the Bank’s position would improve;
(iii) That an appropriate workout plan has been developed and will be implemented in conjunction with the additional credit to be extended; and
(iv) The signed certification shall be made a part of the minutes of the Board meeting, or designated committee, with a copy retained in the borrower’s credit file.
OTHER REAL ESTATE
11. (a) Within 60 days from the effective date of this ORDER, the Board shall develop a written policy for managing the Other Real Estate (“ORE”) of the Bank. At a minimum, the policy shall provide for:
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(i) review of the ORE portfolio, at least quarterly, by a committee appointed by the Board ;
(ii) documentation that taxes and insurance premiums are paid in a timely manner;
(iii) resolution of documentation exceptions;
(iv) realistic and comprehensive budget for each parcel with a book value in excess of $100,000 including projections of the Bank’s carrying costs (e.g., upkeep, repairs, and insurance costs) and projections of the marketing costs;
(v) independent appraisal of each parcel at the time of foreclosure and periodically thereafter (but no more than 12 months from the date of the prior appraisal report);
(vi) determination by the ORE committee that each parcel of ORE is listed with a real estate broker or otherwise made widely available for sale within an appropriate timeframe and at a realistic selling price;
(vii) periodic progress reports from each real estate broker marketing Bank ORE, including projected sales timeframes;
(viii) detailed report from the ORE committee to the Board at least quarterly, with a copy of the report, including documentation of the action taken to facilitate the timely sale of ORE, made part of the board minutes; and
(ix) requirements for accounting, documentation, resale terms and action plans for the orderly liquidation of ORE from the Bank’s books.
(b) The Bank shall submit the policy to the Supervisory Authorities for review and
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comment. Within 30 days from receipt of any comment from the Supervisory Authorities and after due consideration of any recommended changes, the Bank shall approve the policy, which approval shall be recorded in the minutes of the board meeting. Thereafter, the Bank shall implement and fully comply with the policy.
VIOLATIONS OF REGULATION
12. Within 60 days from the effective date of this ORDER, the Bank shall eliminate and/or correct all violations of regulation, which are more fully set out on pages 9 and 10 of the Report. In addition, the Bank shall take all necessary steps to ensure future compliance with all applicable laws, regulations, statements of policy, and regulatory guidance.
LENDING AND COLLECTION POLICIES
13. (a) Within 60 days from the effective date of this ORDER, the Bank shall review, revise and implement its written lending and collection policy to provide effective guidance and control over the Bank’s lending function, including strengthening the underwriting, appraisal review, and loan-to-value reporting processes to conform with FDIC guidance and regulation. Such revised policies and their implementation shall address the criticisms enumerated on pages 7 and 8 of the Report and be in a form and manner acceptable to the Supervisory Authorities.
(b) The Board shall adopt procedures whereby officer compliance with the revised loan policy is monitored and responsibility for exceptions thereto assigned. The procedures adopted shall be reflected in the minutes of a Board meeting at which all members are present and the vote of each is noted.
LOAN REVIEW
14. Within 30 days from the effective date of the ORDER, the Board shall enhance its independent loan review program to provide for a periodic review of the Bank’s loan portfolio
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and the identification and categorization of problem credits. At a minimum, the program shall provide for:
(a) Prompt identification of loans with credit weaknesses that warrant the special attention of management, including the name of the borrower, amount of the loan, reason why the loan warrants special attention, and assessment of the degree of risk that the loan will not be fully repaid according to its terms;
(b) Action plans to reduce the Bank’s risk exposure from each identified relationship;
(c) Prompt identification of all outstanding balances and commitments attributable to each obligor identified under the requirements of subparagraph 14(a), including outstanding balances and commitments attributable to related interests of such obligors, including the obligor of record, relationship to the primary obligor identified under subparagraph 14(a), and an assessment of the risk exposure from the aggregate relationship;
(d) Identification of trends affecting the quality of the loan portfolio, potential problem areas, and action plans to reduce the Bank’s risk exposure;
(e) Assessment of the overall quality of the loan portfolio;
(f) Identification of credit and collateral documentation exceptions including loan covenant exceptions, and action plans to address the identified deficiencies;
(g) Identification and status of violations of laws and/or regulations with respect to the lending function and an action plan to address the identified violations;
(h) Identification of loans that are not in conformance with the Bank’s lending policy and action plans to address the deficiencies; and
(i) A mechanism for reporting periodically, but in no event less than quarterly, the information developed in subparagraphs 14(a) through 14(h) above to the Board.
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The report should also describe the actions taken by management with respect to problem credits.
LIQUIDITY AND FUNDS MANAGEMENT
15. (a) Within 60 days from the effective date of this ORDER, management shall review and revise the Bank’s plan addressing liquidity, contingent funding, and asset liability management. A copy of the revised plan shall be submitted to the Supervisory Authorities upon its completion for their review and comment. Within 30 days from the receipt of any comments from the Supervisory Authorities, the Bank shall incorporate any recommended changes. Thereafter, the Bank shall implement and follow the plan. Annually during the life of this ORDER, the Bank shall review this plan for adequacy and, based upon such review, shall make appropriate revisions to the plan that are necessary to strengthen funds management procedures and maintain adequate provisions to meet the Bank’s liquidity needs.
(b) The initial plan shall include, at a minimum:
(i) A limitation on the ratio of the Bank’s total loans to assets;
(ii) A limitation of the ratio of the Bank’s total loans to funding liabilities;
(iii) Identification of a desirable range and measurement of dependence on non-core funding including brokered funds;
(iv) Establishment of lines of credit that would allow the Bank to borrow funds to meet depositor demands if the Bank’s other provisions for liquidity proved inadequate;
(v) A requirement for retention of sufficient investments that can be promptly liquidated to ensure the maintenance of the Bank’s liquidity posture at a level consistent with short-term and long-term objectives;
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(vi) Establishment of contingency plans to restore liquidity to that amount called for in the Bank’s liquidity policy; and
(vii) Establishment of limits for borrowing federal funds and other funds, including limits on dollar amounts, maturities, and specified sources/lenders.
PLAN FOR EXPENSES AND PROFITABILITY
16. (a) Within 60 days from the effective date of this ORDER, the Bank shall review and revised its written plan and a comprehensive budget for all categories of income and expense. The plan and budget required by this paragraph shall include formal goals and strategies, consistent with sound banking practices and taking into account the Bank’s other written policies, to improve the Bank’s net interest margin, increase interest income, reduce discretionary expenses, control overhead, and improve and sustain earnings of the Bank. The plan shall include a projected balance sheet and a description of the operating assumptions that form the basis for and adequately support major projected income and expense components. Thereafter, the Bank shall formulate such a plan and budget by November 30 of each subsequent year. The plan and budget required by paragraph 16(a) of this ORDER shall be acceptable to the Supervisory Authorities as determined at subsequent examinations and/or visitations.
(b) Following the end of each calendar quarter, the Board shall evaluate the Bank’s actual performance in relation to the plan and budget required by paragraph 167(a) of this ORDER and shall record the results of the evaluation, and any actions taken by the Bank, in the minutes of the Board meeting at which such evaluation is undertaken.
LENDING PRACTICES
17. (a) Within 60 days from the effective date of this ORDER, the Bank shall submit to the Supervisory Authorities specific plans and proposals to effect the correction of all loan
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underwriting, loan administration, and loan portfolio management weaknesses detailed in the Report. At a minimum, these plans and proposals shall incorporate procedures:
(i) to address all loan underwriting weaknesses detailed on pages 7 and 8 of the Report;
(ii) to address construction loan inspection and disbursement procedures;
(iii) to address the appropriate use of interest reserves;
(iv) to ensure proper financial analysis of potential and existing credit relationships, including the documentation of cash flow for the primary and secondary sources of repayment;
(v) to evaluate the Bank’s loan review and grading system and implement changes which shall:
a. ensure that loans are appropriately graded;
b. ensure that problem loans are accurately identified on a timely basis;
c. ensure that collateral and credit documentation deficiencies and policy exceptions are identified; and
d. ensure that the results of the loan review are communicated in writing to the Board and the Loan Committee;
(vi) to ensure that the bank’s assessment of the adequacy of capital and the ALLL appropriately considers the loan review and grading system;
(vii) to revise the loan policy to include risk limits for industry and individual concentrations and procedures for monitoring and reporting such;
(viii) to require strict guidelines for out-of-territory loans, which, at a minimum, include an aggregate limitation of such loans, require complete credit
17
documentation, and require approval by a majority of the Board prior to disbursement of funds, including a written explanation of why such loans are in the best interest of the Bank; and
(ix) to monitor officer compliance with the written loan policy and to assign responsibility for exceptions to the policy.
(b) Within 60 days from the effective date of this ORDER, the Bank shall review and revise its written loan policy to provide effective guidance, monitoring, and control over the Bank’s acquisition, development, and construction (“ADC”) lending function. The revised policy shall address the weaknesses related to the Bank’s ADC lending activities, as detailed in the Report. Also, the revised policy shall provide for a planned material reduction in the volume of funded and unfunded ADC loans as a percentage of Tier 1 capital. Such revised policy shall be provided to the Supervisory Authorities for review and approval prior to implementation, and its implementation shall be in a form and manner acceptable to the Supervisory Authorities as determined at subsequent examinations and/or visitations.
BROKERED DEPOSITS
18. (a) During the life of this ORDER, the Bank shall not accept, renew, or rollover brokered deposits without obtaining a brokered deposit waiver approved by the FDIC pursuant to section 29 of the Act, 12 U.S.C. § 1831f. Within 30 days of the effective date of this ORDER, the Bank shall submit to the Supervisory Authorities a written plan for eliminating its reliance on brokered deposits. The plan should contain details as the current composition of brokered deposits by maturity and explain the means by which such deposits will be paid or rolled over. The Supervisory Authorities shall have the right to reject the bank’s plan. On the twenty-fifth day of each month, the Bank shall provide a written progress report to the Supervisory Authorities detailing the level, source, and use of brokered deposits with specific reference to
18
progress under the Bank’s plan. For purposes of this ORDER, brokered deposits are defined as described in Section 337.6(a)(2) of the FDIC’s Rules and Regulations, 12 C.F.R. § 337.6(a)(2) to include any deposits funded by third party agents or nominees for depositors, including depositors managed by a trustee or custodian when each individual beneficial interest is entitled to a right to federal deposit insurance.
(b) The Bank shall comply with the restrictions on the effective yields on deposits described in 12 C.F.R. § 337.6(b)(4).
PROGRESS REPORTS
19. Within 30 days of the end of the first calendar quarter following the effective date of this ORDER, and within 30 days of the end of each calendar quarter thereafter, the Bank shall furnish written progress reports to the Supervisory Authorities detailing the form and manner of any actions taken to secure compliance with this ORDER and the results thereof. Such reports shall include a copy of the Bank’s Report of Condition and the Bank’s Report of Income. Such reports may be discontinued when the corrections required by this ORDER have been accomplished and the Supervisory Authorities have released the Bank in writing from making further reports.
DISCLOSURE TO SHAREHOLDERS
20. Following the issuance of this ORDER, the Bank shall provide to its shareholders or otherwise furnish a description of this ORDER (i) in conjunction with the Bank’s next shareholder communication or (ii) in conjunction with its notice or proxy statement preceding the Bank’s next shareholder meeting. The description shall fully describe the ORDER in all material respects. The description and any accompanying communication, statement, or notice shall be sent to the FDIC, Division of Supervision and Consumer Protection, Accounting and Securities Disclosure Section, 550 17th Street, N.W., Room F-6066, Washington, D.C. 20429 and to the Commissioner, Georgia Department of Banking and Finance, 2990 Brandywine Road,
19
Suite 200, Atlanta, Georgia 30341-5565, to review at least twenty (20) days prior to dissemination to shareholders. Any changes requested to be made by the FDIC and the Department shall be made prior to dissemination of the description, communication, notice, or statement.
This ORDER shall become effective immediately upon the date of its issuance. The provisions of this ORDER shall remain effective and enforceable except to the extent that, and
until such time as, any provisions of this ORDER shall have been modified, terminated, suspended, or set aside in writing by the Supervisory Authorities.
Pursuant to delegated authority.
Dated this 31st day of August, 2009.
/s/
Doreen Eberley
Acting Regional Director
Division of Supervision and Consumer Protection
Atlanta Region
Federal Deposit Insurance Corporation
20
The Georgia Department of Banking and Finance (“Department”), having duly approved the foregoing ORDER, and the Bank, through its Board, agree that the issuance of said ORDER by the FDIC shall be binding as between the Bank and the Georgia Commissioner of Banking and Finance to the same degree and to the same legal effect that such ORDER would be binding if the Department had issued a separate ORDER that included and incorporated all of the provisions of the foregoing ORDER, pursuant to Official Code of Georgia Annotated § 7-1-91(1985).
Dated this 31st of August, 2009.
________________/s/_________________
Robert M. Braswell
Commissioner
Department of Banking and Finance
State of Georgia
21

First Chatham Bank Savannah Georgia

This slob is Steve Green, “the face  of trust”?

This guy lost $8,743,000 in Q4 2011

He wiped out 41% of the remaining equity in only 90 f$$cking days

This idiot is sitting on $65,000,000 in junk loans with only

He ran this place into the ground and got them on the problem bank list

Incompetant commercial real estate  lending, weakness in management

Steven Green is also on the under capitalized bank list

He has $52MM in bad loans and $24MM in capital, shocking!

First Chatham  Bank Savannah Georgia was founded in 2002.  The company is on the problem bank list, due incompetent commercial real estate lending.  They were cited for engaging in unsafe and unsound lending practices.  Also, they have weakness in management, asset quality, earnings.  Maybe that is why the Texas ratio is 107%.

When the first page on the website is real estate they have for sale, that could be a problem.

When the CEO Stephen Green owns Stephen Green Properties, there could be a conflict of interest here.

The bank is under capitalized with a tier 1 risk based capitalization of 7.15%

The company has $599MM in assets with $24MM in equity.

The problem loan portfolio in relation to the equity position is phenomenal.  They have $52MM in problem loans.

They have $52MM in problem loans with $24MM in equity.

Guess what, there is not equity.

This bank is insolvent.

Why isn’t this place shut down?

They lost $4MM in Q3 2011

Stephen is not showing the tax payer the Green.

Judging from the portfolio, he must have been dabbling in the green.

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

Do you have money in this bankrupt entity?

Landmark Bank Sarasota Florida

Not a bad looking banker

Landmark Bank Sarasota, Florida was founded in 2000.  They are on the problem bank list for negligent commercial real estate lending.  The Texas ratio is 269%, this place has problems.

The total Tier 1 risk based capital level is .63, that slightly below the 8% threshold.  Based on that capitalization level, this could be the worst bank in the country.

They have assets of $287MM with equity of $8MM.

The problem loan portfolio in relation to the equity position is phenomenal.  They have $41MM in non accrual loans.

They have $41MM in bad loans with $8MM in equity.

This place is insolvent.

Why hasn’t this bank been closed down?

Do you have money in this ticking time bomb?

It didn’t this management long to run this place into ground.

This place will be quite the landmark when they go bankrupt!

First National Bank of Florida Milton Florida

First National Bank of Florida Milton, Florida was founded in 1984.  The Texas ratio is a phenomenal at 384%.

The Tier 1 risk total capitalization is 4.8%, far below the required level of 8%.

This bank is severely under capitalized.

The bank is insolvent.

The company has $313MM in assets and $21MM in equity.

The problem loan situation is incomprehensible.  They have $75MM in loans on non accrual.

The company has $75MM in bad loans and $21MM in equity, how does that work.

This bank is bankrupt.

Why aren’t they shut down?

Then again, why aren’t they on the problem bank list?

Net income was ($10MM) in FY10, ($12MM) in FY09 and ($6MM).  They are consistent.

Take a look at the website, they have so many properties for sale, the place looks more like Caldwell Banker than a bank.

They have decided not to post the financial statements on the website.

The bank doesn’t even tell you who the CEO or the management team is.

This place is in hiding.

Hopefully, you don’t have money in this Zombie.

Citizens First National Bank Princeton Illinois

Take a look at the new site

capital2risk.com

Truly sad! I heard they are currently being sued. I read a previous lawsuit file of sexual misconduct going on within the bank….yikes! About ten years ago, a friend of mine said she saw a branch manager and teller having sex on a desk before the branch opened for the day. Maybe instead of “chasing tail” they should be covering their “assets.”

Here is Tony Sorcic he wiped out this bank and killed this town, he should be in jail 

Here he is as a kid, same haircut, Our Gang

Here is Tony burying the investors money in the ground

When is the FDIC going to stop by Tom?

It looks like there is a run on this bank, George Bailey would be proud

Tom Ogaard makes $319,000 a year, the average per capita in this town is $20,000

If you see Tom around town , ask him for the $25,000,000 and how about the interest”

Tom Ogaard has stolen your money long enough

Do you have money in this place?

The FDIC is bankrupt

Take a look at that joker on the left, that is Tom Ogaard he took $25,000,000 in tax payer money which he can’t pay back

Tom hasn’t even pay interest on your money since 11/10

Don’t worry Tom gets paid $319,000 a year 

Tom made $132,000,000 in bad loans

The stock is delisted, check out the 8-K

Do you have money in this disaster?

Hopefully your bank is not on the Capital2risk list

This is Tony Sorcic, this is the criminal who bankrupted this place

Who does his hair?

You will be looking like these guys, deer in the headlights.

Check out capital2risk, you will see the rest of the banks that stole your money

How about starting a run on this bank!

OCCUPY CITIZENS FIRST NATIONAL BANK PRINCETON ILLINOIS!

Go to the bank and ask Tom Ogaard where is  your $25,000,000  that he stole

How about if Tom starts paying interest on the money he took, lets start with $319,000 that he pays himself

He makes $319,000 he is the 1%.

The median per capita  income in Princeton is $20,000

Tom Ogaard pays himself $319,000 to bankrupt the local bank.

Most people on Wall Street don’t make $319,000

Tom Ogaard  gets paid $150 an hour to run the local bank into the ground

Tom bankrupted a 146 year old bank, this bank survived the great depression but it won’t survive Tom Ogaard!

He also got this place on the problem bank list

Why the hell are they giving this clown and award?

This is now the 2nd worst bank in the state the Texas ratio has increased to 122%

Tom lost another $18,000,000 in Q3 2011, he wiped 25% of the equity in 90 days

Q4 will interesting

Where is Tom’s left hand? Hopefully not where I think it is

This guy makes $319,000 a year and he gives this heifer a clock , at the BEEF and Ag

Citizens First National Bank Princeton Illinois was founded in 1865.  The company took $25MM in tax payer funded bailout money which it has decided to not repay.  Then again, they stopped paying interest on these funds on 11/10.  Not bad, when a bank doesn’t pay interest on money they borrowed.  Why can’t the tax payer do that? The company is on the problem bank list, shocking!  The Texas ratio is 92%, this place is history.

The bank has $1B in assets with $56MM in stated equity.

The actual equity is $31MM, as the so called preferred stock provided by the tax payer is debt not equity.

The problem loan situation is incredible.  They have $132MM in problem loans, $102MM of which are on non accrual.

They have $31MM in equity with $132MM bad loans.

Tom is giving out clocks, his time is running out

Take a look, Tom has bigger breasts than the guy he is giving the clock to

Hold on, Tom is giving another clock way, this guy steals $25,000,000 from the tax payer and he gives you a clock

It might be time to convict Tom

Have you seen this guy around town

This is Todd Fanning he makes $192,000 a year, wonder why he has no hair?

He might be bald but at least he has pubic hair on his face  

It would take the average person in this town 10 years to make what Todd makes in one year!

How many people in this town make $192,000 a year

If you see Todd around town, ask him for the $25,000,000 of your tax payer $$$ he took.

This thing is beyond bankrupt!

Why hasn’t this bank been shut down.

Net income was ($18MM) in FY10 and ($22MM) in FY09

So how are they going to pay back the $25MM, they took from the tax payer. That is not going to happen.

Luckily the executive compensation wasn’t effected, as they ran this place into ruin.

Thomas Ogaard      made $319k

James Miller            made $194

Todd Fanning         made  $192

That’s good pay for destroying a 146 year old bank

Funny, how they don’t publish the financial statements on the website? Probably busy making bad loans.

It’s public information, not hard to find.

Capital Bank Greenwood South Carolina

Check out William Stevens on the left he makes $750k a year

This includes country club fees and a car allowance

He got this place on the problem bank list

Wesley Brewer is stealing your money, Wesley is a criminal, send this clown to jail

Take your money out of this bankrupt entity

Wesley Brewer needs to go to jail!

William racked up $46MM in bad loans

Capital Bank Greenwood South Carolina was founded in 1989.  The company has entered into an agreement with the regulators, allowing it to become a member of the problem bank list.  The Texas ratio is 55%.  You know this place has a problem, when the first thing you see on the website is the real estate they have for sale.  Is this  a bank or a real estate company?  One thing is for sure, they like to finance vacant land.  Take a look at the news section on the website, there is none.  Here is some news, this bank is bankrupt.  They might want to change the name, I don’t think capital is the operative word for this place.

The company has assets of $655M and equity of $46MM.

The problem loan portfolio is incredible.  They have $41MM in problem loans, with $39MM on non accrual.

This bank has $41MM in problem loans with $46MM in equity?  The non accruals could easily wipe out the remaining equity.

Capital Bank, they have no capital, they are bankrupt!

This bank is bankrupt.

With net income of ($5MM) in FY10 and ($25MM) in FY09, they aren’t going to earn their way out of this mess.

Fortunately, the executive compensation wasn’t effected by this disaster that they caused.

William Stevens      “earned”   $750k

R. Wesley Brewer     made       $252k

Don’t worry these salaries include country club fees ($6k) and car allowances.

That is good pay for wiping this place out.

William Stevens makes $750k to lose $30MM and and rack up $46MM in bad loans. Plus, they pay for him to go golfing, while he bankrupts the place.

This guy has got the life, imagine what he would get paid if he actually made money for the company!

The only ones with capital are William Stevens and R. Wesley Brewer.

So if you make over $200k  in the south, you get to stick letter in front of your name?

Do you have money in this abortion?

William Stevens should be incarcerated.

Bank of Blue Valley Overland Park Kansas

Take a look at the new site

capital2risk.com

This is Robert Reiger he gets paid $315k to run this bank into the ground

He got this place on problem bank list for inept commercial real estate lending

Robert racked up $48MM in bad loans and lost the company $26MM

Bank of the Blue Valley? with this clown as the the CEO, the investors are singing the blues

Bank of Blue Valley Overland Park, Kansas was founded in 1989.  The company is on the problem bank list, after it entered into a consent order with the FDIC, for inept commercial real estate lending.  The Texas ratio is 53%.

Bob racked up $48,000,000 in bad  loans, and gets paid $315,000

He seems to like these 3 racks

Hopefully, Bob is not giving these vixons financial advise

Do you think he told them he is on the problem bank list?

Did he tell them the bank is insolvent?

The company has $723MM in assets with $77MM in equity.

The problem loan situation is staggering.  They have $48MM in problem loans, with get this, $45MM on non accrual. I guess that is why they are on the problem bank list.

With $77MM in equity, the $45MM in non accrual, non accrual alone could easily wipe out the equity position.

They are also good at losing money.  Net income was ($3MM) in FY10, ($15MM) in FY09 and ($10MM) in FY08.

This Mark Fortino, he is the CFO, check this dork out, this guy is so Kansas

The stockholders pay  Mark $165,000  to lose $28,000,000 and make $48,000,000 in junk loans 

This joker sings in the barbershop quartet, maybe he should find a decent barber that can fix that triangulated head

This clown is a “left brain accountant”?  Mark you lost F$$? $28,000,000 with your left brain, how much of the investors $$ are you going to lose with your right brain?

This idiot serves in a “pecuniary way” for the Girl Scouts, A$$hole you lost $28,000,000 for Bank of the Blue Valley. How much are you going to lose for the Girl Scouts?

Lost $28,000,000, made $48,000,000 in bad loans, gets paid $165,000

 

They are not going to earn their way out of this.

At least the executives are well compensated, they earn more than the company makes?

Robert Reigner    makes $315k

Mark Fortino        makes $165k

Bruce Easterly      makes $160k

Not bad pay for getting this place on the problem bank list, losing $28MM and racking up $48MM in bad loans.

Robert Reiger doesn’t care, they pay him $315k to rack up $28MM in loses and $45MM in bad loans, that is a good job.  They pay you good money to keep losing money.

That’s good compensation for this performance, this management team is not singing the blues.

Do you have money in this bank?

Here they are burying your money in the ground, the blue valley

The stockholders might have the blues.

Charter Bank West Point Georgia

Take a look at the new site

capital2risk.com

Charter Bank West Point, Georgia was founded in 1954.  The Texas ratio is 99%

The bank has $1.88B in assets with $135MM in equity.

The company has $106MM in problem loans.

Go to website, check out the vacant land they are sitting on?  Savvy bankers!

Buy land, they aren’t t making any more of it in Georgia?

With $135MM in problem loans and $106MM in equity, this place is looking insolvent.

Net income was $6MM in FY10, $2MM in FY09 and $13MM in FY08.

With this financial performance, they are not going to earn their way out of this mess.

Why is this bank not closed down?

Why is this company not on the problem bank list?

At least the executive pay has not been impacted.

Robert Johnson         made $733k

Curtis Koller                made $373k

Les Washam                made $473k

That is good pay for making this many bad loans.

Take a look at the website, they have probably 200 properties for sale, most of which are vacant lots.   You can’t even make this up, it is so pathetic.

This place has so much vacant land for sale.

Robert Johnson makes $733k to run this place into the ground?

Robert was thinking with his Johnson when he made all these loans secured by vacant lots.

This clown pays himself $733k to finance vacant lot?

This guy should be in jail.

Is this your bank? It is bankrupt.

Any investors looking for vacant land in Georgia?

Do you money in this place?

Watch out Robert Johnson makes $733k, while he insures your cash with Confederate money.

Hyde Park Bank Chicago Illinois

Hyde Park Bank Chicago, Illinois was founded in 1928.  The bank took $9MM in government bailout funds which they haven’t repaid.

They have assets of $369MM with equity of $29MM.

The actual equity is $20MM as the $9MM is debt not equity.

The bank has $11MM in problem loans.

The $10MM on non accrual could put a strain on the equity position.

Net income was $2MM in FY10, $1MM in FY09.

Why haven’t they repaid the tax payer funds.

They have forgotten to post their FY10 financial statements.

Salisbury Bank Lakeville Connecticut

                                                                                               Check out John Perrotti in the pink jacket

It looks like he is giving a check away?

John took $9MM of your tax payer funded money which he won’t pay back

Why is smiling? He makes a $175k and took $9MM of your money

The pink coat is financed by the tax payer

He is sitting on 18MM in bad loans

Salisbury Bank Lakeville Connecticut was founded in 1874.  The company took $9MM in tax payer funds which it hasn’t repaid.  However, they did pay a dividend to the shareholders.

They have assets of $575MM and equity of $43MM.

The actual equity is $34MM, when you back out the bailout funds.

The bank has $18MM in problem loans, $15MM of which are on non accrual.

The non accruals could wipe out a significant portion of the equity position.

Net income was $3MM  in FY10 and $2MM in FY09.

Why weren’t these funds used to pay back the tax payer.

The executives did get paid.

Richard Cantele   made $191k

John Perrotti        made $175k

The tax payer made 0

Hey, Richard Cantele, where is the $9MM you stole from the tax payer?  Check your pocket.

Is this your bank? You might want to jump in the lake.

Richard Cantele is a criminal. How about locking Dick up, until he pays back the $9MM he stole. and won’t pay back.

Two River Community Bank Middletown New Jersey

 

This is William Mass he took $9MM of you tax payer money and makes $353k a year

Does this fat cat look like he is going hungary on you bailout money?

How many chins does William Mass have?

Two River Community Bank Middletown, New Jersey accepted $9MM in government bailout funds which hasn’t been paid back.  However, they were able to pay a dividend to the shareholders.

The bank has $636MM in assets and $80MM in equity.

The company had net income of $3MM in FY10.

Why haven’t they repaid the tax payer.

Well the tax payer didn’t get paid, but the executives sure did.

William Mass                   made $353k

Alan Turner                     made $238k

Richard Abrahamian   made $180k

Elmira Savings Bank Elmira New York

Elmira Savings Bank Elmira, New York, the company took $9MM in tax payer funded bailout money which they failed to repay.  However, they were able to pay dividends to their investors.

The company has  $453MM in assets with $27MM in equity.

The actual equity is $18MM, when the $9MM in tax payer money is properly treated as debt rather than equity.

The bank is probably under capitalized.

Net income was $2MM in FY10 and $1.6MM in FY09.

Why haven’t they used these funds to pay back the tax payer?

At least, the executives weren’t afraid to pay themselves.

Michael Hosey   made $474k

Thomas Carr       made $265k

Kevin Berley       made $166k

Don’t worry, the compensation includes country club memberships and car allowances.

So, when is this tax payer money getting paid back, probably not during the golf season.

Michael Hoseme takes 25% of the company’s net income and tax payer money.

Do have money in this place?

I am thinking $472k is probably pretty good pay for  Elmira.  Wow, that is good pay for Manhattan!

Don’t worry the tax payer is funding their country club memberships

First Priority Bank Malvern Pennsylvania

First Priority Bank Malvern Pennsylvania took $9MM in bailout money that it hasn’t paid back.

The bank has assets of $268MM with equity of $27MM

Net income was $143k in FY10, ($1MM) in FY09 and ($1MM) in FY08.

Based on this financial performance, how are they going to pay the tax payer back $9MM?

Paying back the tax payer doesn’t look  like their first priority!

Carrollton Bank Baltimore Maryland

This is Bob Altieri he took $9MM in bailout money, which he won’t repay

Bob makes $292k a year

Bob lost this bank $1MM in each of the last 2 years, how long will it take him to pay back $9MM

Carrollton Bank Baltimore Maryland was founded in 1904.  The bank took $9MM in bailout money which it hasn’t repaid.

They have assets of $283MM with $33MM in equity.

The equity position is actually $24MM when the tax payer funding is backed out.

The bank has $13MM in problem loans, $11MM of which are on non accrual.

The non accrual could severely erode the equity position.

Net income was ($1M) in FY10 and ($1MM) in FY09.

At the rate, how can they pay back the $9MM.

Don’t worry, the executives are doing fine.

Robert Altieri       made  $283k

Mark Semanie       made $180k

Jeff Jewell               made $248k

This management team pays themselves almost a million dollars and the lose a million dollars for the company?

That is creating shareholder value.

Is this your bank?

Provident Community Bank Rock Hill South Carolina

This guy took $9MM in tax payer funded money, which he won’t pay back

Then again, he hasn’t even paid interest on it 5/2010

Lud makes $160k a year, while he is on the problem bank list for negligent commercial real estate lending

This guy runs one of the worst banks in South Carolina

Why is he smiling, he gets paid good money to destroy a 77 year old bank

 

Provident Community Bank Rock Hill South Carolina was founded in 1934.  They have taken $9MM in government bailout money which they have not repaid.   Also, they stopped paying interest on these funds in May 2010.  The company is on the problem bank list for negligent commercial real estate lending.  The Texas ratio is 99%, making one of the worst in South Carolina.

The assets are $408MM and the stated equity is $10MM

As, the bailout funds are actually debt not equity, the true equity position is $1MM.

This bank is being propped up by the tax payer.

This management team was able to wipe out 133% of the equity in 3 years.

The problem loans in relation to the equity position is incredible.  It has $32MM in problem loans, $29MM of which are on non accrual.

The bank has $1MM in equity, with $32MM in problem loans.

This bank is between a rock and a hard  place.

Why isn’t this place shut down, they are insolvent.

Net income was ($14MM) in FY10 and ($7M) in FY09.

How are they going to pay back $9MM?

With $29MM on non accrual, they aren’t.

The executives continue to do well despite causing these problems

Dwight Neese         made $258k

Richard Flake          made $160k

Lud Vaugh               made $160k

That’s good pay for taking down a 77 year old bank.

Maybe Dwight Neese should use that $258K to pay back the tax payer money he took.

Dwight  where is our $9MM, check your pocket.

Is this your bank? Take out your money, until Dwight Neese pays back the tax payer back the $9MM he stole.

Bay Cities Bank Tampa Florida

 

Where is the $10MM you took?

Bay Cities Bank Tampa Florida was founded in 1999.  The company took $10MM in bailout funds which still hasn’t been paid back.For some reason the are not on the problem bank list.

They have $622MM in assets with $56MM in equity.

The equity position is actually $46MM when the $10MM is bailout funds is backed out.

The problem loan situation in relation to the equity position is incredible.  The bank has $45MM in problem loans of which $32MM is non accrual.

The company has $45MM in bad loans with $45MM in equity.

This place is bankrupt

Why aren’t they shut down?

Why aren’t they at least on the problem bank list? I guess it is very competitive to become listed on the problem bank list in Florida.

Premier Bank Tallahassee Florida

Check out the new site

capital2risk.com

Here is Matt Brown, CEO

Matt took $10,000,000 of your money which he won’t pay back

Matt’s bank is on the problem bank list

This clown lost $10,343,000 in Q4 2011

Why does is Matt bald? Because he wipe out 90% of the equity in 90 days

How is that for Premier

This guy should be in jail

How is this dope going to pay back the $10,000,000 he stole from the tax payer?

This place took $10MM in tax payer money which it can’t pay back

This is Linda Plamer the CFO

Linda F$$cked the tax payer out of $10,000,000

They are on the problem bank list

Don’t worry, the $10MM is only monopoly money, they can’t pay it back

This is Al Basford Commercial Lender

This Idiot made $35,000,000 in junk loans

Hold on, they have $48MM in problem loans, $9MM in supposed equity and they owe the tax payer $10MM, go directly to park place

Premier Bank Tallahassee Florida was founded in 1995.  The company took $10MM in tax payer funding, which they have decided to not give back.  The company is on the problem bank list.  They were cited for weakness in management, capital, earnings and liquidity.  The Texas ratio is an incredible 119%.

Take a look at the real estate for sale on the website, this place likes to finance vacant land.  That could be due to the weakness in management cited by the Feds.

That is a Premier bank.

Commercial Lenders

• 
  

  Brantley Henderson
  Senior Vice President
  Senior Commercial Lending Officer

  bhenderson@premier-bank.com
  (850) 906-5726
  (850) 508-2162 (mobile)

• 
  

  Erin Sjostrom
  Senior Vice President
  Senior Credit Officer

  esjostrom@premier-bank.com
  (850) 383-4728
  (850) 933-0627 (mobile)

• 
  

  Al Basford
  Senior Vice President

  abasford@premier-bank.com
  (850) 906-5722
  (850) 694-4104 (mobile)

• 
  

  Kaila Hardee
  Vice President

  khardee@premier-bank.com
  (850) 383-4734
  (850) 933-6743 (mobile)

They have $357MM in assets with $19MM in stated equity.

The actual equity is $9MM, as the $10MM in tax payer funds is debt not equity.

The bank has $48MM in problem loans, $42MM of which is on non accrual.

The company has $48MM in bad loans with only $9MM in equity.

That is not Premier.

This place is bankrupt

Why hasn’t it been shut down.

This place is a disaster.

Do you have money in this place?

1
FEDERAL DEPOSIT INSURANCE CORPORATION
WASHINGTON, D.C.
STATE OF FLORIDA OFFICE OF FINANCIAL REGULATION TALLAHASSEE, FLORIDA
In the Matter of
PREMIER BANK
TALLAHASSEE, FLORIDA
(Insured State Nonmember Bank)
))))))))))
CONSENT ORDER
FDIC-10-074b
OFR 0722 -FI-02/10
The Federal Deposit Insurance Corporation (“FDIC”) is the appropriate Federal
banking agency for Premier Bank, Tallahassee, Florida (“Bank”), under 12 U.S.C. §
1813(q).
The Bank, by and through its duly elected and acting Board of Directors
(“Board”), has executed a “Stipulation to the Issuance of a Consent Order”
(“STIPULATION”), dated May 4, 2010, that is accepted by the FDIC and the Florida
Office of Financial Regulation (“OFR”). The OFR may issue an order pursuant to
Chapter 120 and Section 655.033, Florida Statutes (2009).
With this Stipulation, the Bank has consented, without admitting or denying any
charges of unsafe or unsound banking practices or violations of law and/or regulation
relating to weaknesses in asset quality, earnings, management, capital, liquidity, and
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sensitivity to market risk, to the issuance of this Consent Order (“ORDER”) by the FDIC
and the OFR.
Having determined that the requirements for issuance of an order under 12 U.S.C.
§ 1818(b) and under Chapter 120 and Section 655.033, Florida Statutes have been
satisfied, the FDIC and the OFR hereby order that:
BOARD OF DIRECTORS
1. Beginning with the effective date of this ORDER, the Board shall increase its
participation in the affairs of the Bank, assuming full responsibility for the approval of
sound policies and objectives and for the supervision of all of the Bank’s activities,
consistent with the role and expertise commonly expected for directors of banks of
comparable size. The Board shall prepare in advance and follow a detailed written
agenda for each meeting, including consideration of the actions of any committees.
Nothing in the foregoing sentences shall preclude the Board from considering matters
other than those contained in the agenda. This participation shall include meetings to be
held no less frequently than monthly at which, at a minimum, the following areas shall be
reviewed and approved: reports of income and expenses; new, overdue, renewal, insider,
charged-off, and recovered loans; investment activity; operating policies; and individual
committee actions. Board minutes shall document these reviews and approvals,
including the names of any dissenting directors.
COMPLIANCE WITH ORDER
2. Within 30 days from the effective date of this ORDER, the Board shall establish a
Board committee (“Directors’ Committee”), consisting of at least five members, to
oversee the Bank’s compliance with the ORDER. Three of the members of the
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Directors’ Committee shall not be officers of the Bank. The Directors’ Committee shall
receive from Bank management monthly reports detailing the Bank’s actions with respect
to compliance with the ORDER. The Directors’ Committee shall present a report
detailing the Bank’s adherence to the ORDER to the Board at each regularly scheduled
Board meeting. Such report shall be recorded in the appropriate minutes of the Board’s
meeting and shall be retained in the Bank’s records. Establishment of this committee
does not in any way diminish the responsibility of the entire Board to ensure compliance
with the provisions of this ORDER.
MANAGEMENT
3. (a) Within 60 days from the effective date of this ORDER, the Bank shall
develop and approve a written analysis and assessment of the Bank’s management and
staffing needs (“Management Plan”). The Management Plan shall include, at a
minimum: (i) identification of both the type and number of officer positions
needed to properly manage and supervise the affairs of the Bank;
(ii) identification and establishment of such Bank committees as are
needed to provide guidance and oversight to active management;
(iii) annual written evaluations of all Bank officers, and staff members
to determine whether these individuals possess the ability, experience and other qualifications required to perform present and anticipated duties,
including, but not limited to, adherence to the Bank’s established policies
and practices, and restoration and maintenance of the Bank in a safe and
sound condition;
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(iv) a plan to recruit and hire any additional or replacement personnel
with the requisite ability, experience and other qualifications to fill those
officer or staff member positions consistent with the needs identified in
the Management Plan; and
(v) an organizational chart.
(b) Such Management Plan and its implementation shall be satisfactory to the Regional Director of the FDIC’s Atlanta Regional Office (“Regional Director”) and the
OFR (collectively, “Supervisory Authorities”).
(c) Within 90 days from the effective date of this ORDER, the Bank shall
have and retain qualified management with the qualifications and experience
commensurate with assigned duties and responsibilities at the Bank. Each member of
management shall be provided appropriate written authority from the Bank’s Board to
implement the provisions of this ORDER. At a minimum, management shall include the
following:
(i) a chief executive officer with proven ability in managing a bank of
comparable size and in effectively implementing lending, investment and
operating policies in accordance with sound banking practices;
(ii) a senior credit officer with a significant amount of appropriate
lending, collection, and loan supervision experience, and experience in
upgrading a low quality loan portfolio; and
(iii) a chief financial officer with a demonstrated ability in all financial
areas, including but not limited to, accounting, regulatory reporting,
5
budgeting and planning, management of the investment function, liquidity
management and interest rate risk management.
(d) The qualifications of management shall be assessed on its ability to:
(i) comply with the requirements of this ORDER;
(ii) operate the Bank in a safe and sound manner;
(iii) comply with applicable laws and regulations; and
(iv) restore all aspects of the Bank to a safe and sound condition,
including, but not limited to, asset quality, capital adequacy, earnings,
management effectiveness, risk management, liquidity, and sensitivity to
market risk.
(e) During the life of this ORDER, the Bank shall notify the Supervisory
Authorities in writing, of the resignation or termination of any of the Bank’s directors or
senior executive officers. Prior to the addition of any individual to the Board or the
employment of any individual as a senior executive officer, or executive officer as that
term is defined in Subpart F of Part 303 of the FDIC Rules and Regulations, 12 C.F.R. §
303.101 and Section 655.005, Florida Statutes, the Bank shall comply with the
requirements of Section 32 of the Act, 12 U.S.C. § 1831i, and Subpart F of Part 303 of
the FDIC Rules and Regulations, 12 C.F.R. §§ 303.100-303.104; and Section 655.0385,
Florida Statutes, and Rule 69U-100.03852 Florida Administrative Code.
CAPITAL
4. (a) Within 90 days from the effective date of the ORDER, the Bank shall
achieve and maintain the following minimum capital levels as defined in Part 325 of the
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FDIC Rules and Regulations, 12 C.F.R. Part 325, after establishing an adequate
allowance for loan and lease losses (“ALLL”):
(i) Tier 1 capital at least equal to eight (8.0%) percent of total assets;
and
(ii) Total risk-based capital at least equal to twelve (12.0%) percent of
total risk-weighted assets.
(b) Thereafter during the life of this ORDER, the Bank shall maintain Tier 1
capital in such an amount as to equal or exceed eight (8%) percent of the Bank’s total
assets; and a Total risk-based capital ratio of at least twelve (12%) percent as those risk
based capital ratios are described in the FDIC Statement of Policy on Risk-Based Capital
contained in Appendix A to Part 325 of the FDIC Rules and Regulations, 12 C.F.R. Part
325, Appendix A.
(c) Within 30 days of the last day of each calendar quarter, the Bank shall
determine, from its Reports of Condition and Income, its capital ratios for that calendar
quarter. If any capital measure falls below the established minimum, within 30 days of
such required determination of capital ratios, the Bank shall submit a written plan to the
Supervisory Authorities, describing the means and timing by which the Bank shall
increase such ratios up to or in excess of the established minimum.
(d) The level of Tier 1 Capital to be maintained during the life of this ORDER
pursuant to paragraph 4(b) shall be in addition to a fully funded ALLL, the adequacy of
which shall be satisfactory to the Supervisory Authorities as determined at subsequent
examinations and/or visitations.
7
(e) Any increase in Tier 1 Capital necessary to meet the requirements of
paragraphs 4(a) and 4(b) of this ORDER may be accomplished by the following:
(iii) sale of common stock; or
(iv) sale of noncumulative perpetual preferred stock; or
(v) direct contribution of cash by the Board, shareholders, and/or
parent holding company; or
(vi) any other means acceptable to the Supervisory Authorities; or
(vii) any combination of the above means.
Any increase in Tier 1 Capital necessary to meet the requirements of paragraphs 4(a) and
4(b) of this ORDER may not be accomplished through a deduction from the Bank’s
ALLL.
(f) If all or part of any necessary increase in Tier 1 Capital required by
paragraphs 4(a) and 4(b) of this ORDER is accomplished by the sale of new securities,
the Board shall forthwith take all necessary steps to adopt and implement a plan for the
sale of such additional securities, including the voting of any shares owned or proxies
held or controlled by them in favor of the plan. Should the implementation of the plan
involve a public distribution of the Bank’s securities (including a distribution limited only
to the Bank’s existing shareholders), the Bank shall prepare offering materials fully
describing the securities being offered, including an accurate description of the financial
condition of the Bank and the circumstances giving rise to the offering, and any other
material disclosures necessary to comply with the Federal securities laws. Prior to the
implementation of the plan and, in any event, not less than fifteen (15) days prior to the
dissemination of such materials, the plan and any materials used in the sale of the
8
securities shall be submitted to the FDIC, Division of Supervision and Consumer
Protection, Accounting and Securities Disclosure Section, 550 17th Street, N.W., Room
F-6066, Washington, D.C. 20429 and the Office of Financial Regulation, Division of
Financial Institutions, 200 East Gaines Street, Tallahassee, Florida 32399-0371, for
review. Any changes requested to be made in the plan or materials by the FDIC or the
OFR shall be made prior to their dissemination. If the increase in Tier 1 Capital is
provided by the sale of noncumulative perpetual preferred stock, then all terms and
conditions of the issue, including but not limited to those terms and conditions relative to
interest rate and convertibility factor, shall be presented to the Supervisory Authorities
for prior approval.
(g) In complying with the provisions of Paragraphs 4(a) and 4(b) of this
ORDER, the Bank shall provide to any subscriber and/or purchaser of the Bank’s
securities, a written notice of any planned or existing development or other changes
which are materially different from the information reflected in any offering materials
used in connection with the sale of Bank securities. The written notice required by this
paragraph shall be furnished within ten (10) days from the date such material
development or change was planned or occurred, whichever is earlier, and shall be
furnished to every subscriber and/or purchaser of the Bank’s securities who received or
was tendered the information contained in the Bank’s original offering materials.
(h) For the purposes of this ORDER, the terms “Tier 1 Capital” and “total
assets” shall have the meanings ascribed to them in Part 325 of the FDIC Rules and
Regulations, 12 C.F.R. Part 325.
9
CHARGE-OFF
5. (a) Within 30 days from the effective date of this ORDER, the Bank shall
eliminate from its books, by charge-off or collection, all assets or portions of assets
classified “Loss” and 50 percent of those assets classified “Doubtful” in the FDIC Report
of Examination dated October 13, 2009 (“Report”) that have not been previously
collected or charged-off. (If an asset classified “Doubtful” is a loan or lease, the Bank
may, in the alternative, increase its ALLL by an amount equal to 50 percent of the loan or
lease classified “Doubtful”.)
(b) Additionally, while this ORDER remains in effect, the Bank shall, within
30 days from the receipt of any official Report of Examination of the Bank from the
FDIC or the OFR, eliminate from its books, by collection, charge-off, or other proper
entries, the remaining balance of any asset classified “Loss” and 50 percent of the those
classified “Doubtful” unless otherwise approved in writing by the Supervisory
Authorities.
RESTRICTIONS ON CERTAIN PAYMENTS
6. (a) While this ORDER is in effect, the Bank shall not declare or pay
dividends or bonuses without the prior written approval of the Supervisory Authorities.
All requests for prior approval shall be received at least 30 days prior to the proposed
dividend or bonus payment declaration date (at least 5 days with respect to any request
filed within the first 30 days after the date of this ORDER) and shall contain, but not be
limited to, an analysis of the impact such dividend or bonus payment would have on the
Bank’s capital, income, and/or liquidity positions.
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(b) During the term of this ORDER, the Bank shall not make any distributions
of interest, principal or other sums on subordinated debentures, if any, without the prior
written approval of the Regional Director.
ALLOWANCE FOR LOAN AND LEASE LOSSES
7. (a) Immediately upon the issuance of this ORDER, the Board shall make a
provision to replenish the ALLL which, as of the date of the examination, is underfunded
as set forth on page 2 of the Report.
(b) Within 30 days from the effective date of this ORDER, the Board shall
review the adequacy of the ALLL and establish a comprehensive policy for determining
the adequacy of the ALLL. For the purpose of this determination, the adequacy of the
ALLL shall be determined after the charge-off of all loans or other items classified
“Loss.” The policy shall provide for a review of the ALLL at least once each calendar
quarter. Said review shall be completed in time to properly report the ALLL in the
quarterly Reports of Condition and Income. The review shall focus on the results of the
Bank’s internal loan review, loan and lease loss experience, trends of delinquent and nonaccrual
loans, an estimate of potential loss exposure of significant credits, concentrations
of credit, and present and prospective economic conditions. A deficiency in the ALLL
shall be remedied in the calendar quarter it is discovered, prior to submitting the Reports
of Condition and Income, by a charge to current operating earnings. The minutes of the
Board meeting at which such review is undertaken shall indicate the results of the review.
The Bank’s policy for determining the adequacy of the ALLL and its implementation
shall be satisfactory to the Supervisory Authorities.
11
BROKERED DEPOSITS
8. (a) Throughout the effective life of this ORDER, the Bank shall not accept,
renew, or rollover any brokered deposit, as defined by 12 C.F.R. § 337.6(a)(2), unless it
is in compliance with the requirements of 12 C.F.R. § 337.6(b), governing solicitation
and acceptance of brokered deposits by insured depository institutions.
(b) The Bank shall comply with the restrictions on the effective yields on
deposits as described in 12 CFR § 337.6.
FUNDS MANAGEMENT PLAN
9. (a) Annually during the life of this ORDER, the Bank shall review its written
plan addressing liquidity, contingent funding, and asset liability management for
adequacy and, based upon such review, shall make appropriate revisions, if any, to the
plan that are necessary to strengthen funds management procedures and maintain
adequate provisions to meet the Bank’s liquidity needs.
(b) The Bank’s plan shall include, at a minimum: (i) a limitation on the ratio of the Bank’s total loans to assets;
(ii) identification of a desirable range and measurement of dependence
on non-core funding;
(iii) establishment of lines of credit that would allow the Bank to
borrow funds to meet depositor demands if the Bank’s other provisions for
liquidity proved inadequate;
(iv) a requirement for retention of sufficient investments that can be
promptly liquidated to ensure the maintenance of the Bank’s liquidity
posture at a level consistent with short-term and long-term objectives;
12
(v) establishment of contingency plans to restore liquidity to that amount called for in the Bank’s liquidity policy; and
(vi) establishment of limits for borrowing federal funds and other
funds, including limits on dollar amounts, maturities, and specified
sources/lenders.
REDUCTION OF CLASSIFIED ITEMS
10 . (a) Within 60 days from the effective date of this ORDER, the Bank shall
formulate a written plan to reduce the Bank’s risk exposure in each asset in excess of
$500,000 classified as “Substandard” or “Doubtful” in the Report. In developing the plan
mandated by this paragraph, the Bank shall, at a minimum, with respect to each adversely
classified loan, review, analyze, and document the financial position of the borrower,
including source of repayment, repayment ability, and alternative repayment sources, as
well as the value and accessibility of any pledged or assigned collateral, and any possible
actions to improve the Bank’s collateral position.
(b) Within 60 days from the effective date of this ORDER, the Bank shall
formulate a written plan to reduce the aggregate balance of assets classified
“Substandard” and “Doubtful” in the Report in accordance with the following schedule:
(i) within 90 days from the effective date of this ORDER, the Bank
shall have reduced the items classified “Substandard” or “Doubtful” in the
Report by ten percent (10.0%);
(ii) within 180 days from the effective date of this ORDER, the Bank
shall have reduced the items classified “Substandard” or “Doubtful” in the
Report by twenty percent (20.0%);
13
(iii) within 270 days from the effective date of this ORDER, the Bank
shall have reduced the items classified “Substandard” or “Doubtful” in the
Report by thirty percent (30.0%); and
(iv) within 360 days from the effective date of this Order, the Bank
shall have reduced the items classified “Substandard” or “Doubtful” in the
Report by forty-five percent (45.0%).
(c) Within 60 days from the effective date of this ORDER, the Bank shall
submit the plans required in paragraphs 10(a) and 10(b) to the Supervisory Authorities
for review and comment. Within 30 days from the receipt of any comment from the
Supervisory Authorities, and after due consideration of any recommended changes, the
Bank shall approve the plans, which approval shall be recorded in the minutes of the
meeting of the Board. Thereafter, the Bank shall implement and fully comply with the
plans. Such plans shall be monitored and progress reports thereon shall be submitted to the Supervisory Authorities at 90-day intervals concurrently with the other reporting
requirements set forth in paragraph 23 of this ORDER.
(d) The requirements of this paragraph are not to be construed as standards for
future operations and following compliance with the above reduction schedule, the Bank
shall continue to reduce the total volume of adversely classified assets. As used in
subparagraphs 10(a) and 10(b) the word “reduce” means:
(i) to collect;
(ii) to charge-off; or
(iii) to sufficiently improve the quality of assets adversely classified to
warrant removing any adverse classification, as determined by the
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Supervisory Authorities.
NO ADDITIONAL CREDIT TO CERTAIN BORROWERS
11. (a) Beginning with the effective date of this ORDER, the Bank shall not
extend, directly or indirectly, any additional credit to, or for the benefit of, any borrower
who has a loan or other extension of credit from the Bank that has been charged off or
classified, in whole or in part, “Loss” or “Doubtful” and is uncollected. The
requirements of this paragraph shall not prohibit the Bank from renewing (after collection
in cash of interest due from the borrower) any credit already extended to any borrower.
(b) Additionally, during the life of this ORDER, the Bank shall not extend,
directly or indirectly, any additional credit to, or for the benefit of, any borrower who has
a loan or other extension of credit from the Bank that has been classified, in whole or
part, “Substandard”, or is listed for “Special Mention” and is uncollected.
(c) Paragraph 11(b) shall not apply if the Bank’s failure to extend further
credit to a particular borrower would be detrimental to the best interests of the Bank.
Prior to the extending of any additional credit pursuant to this paragraph, either in the
form of a renewal, extension, or further advance of funds, such additional credit shall be
approved by a majority of the Board or a designated committee thereof, who shall certify
in writing as follows:
(i) why the failure of the Bank to extend such credit would be
detrimental to the best interests of the Bank;
(ii) that the Bank’s position would be improved thereby; and
(iii) how the Bank’s position would be improved.
15
(d) The signed certification shall be made a part of the minutes of the Board
or its designated committee and a copy of the signed certification shall be retained in the
borrower’s credit file.
SPECIAL MENTION
12. Within 60 days from the effective date of this ORDER, the Bank shall develop
and submit to Supervisory Authorities for review and comment a plan to correct the cited
deficiencies in the loans listed for “Special Mention” in the Report. Within 30 days from receipt of any comment from the Supervisory Authorities, and after due consideration of
any recommended changes, the Bank shall approve the plan, which approval shall be
recorded in the minutes of the Board meeting. Thereafter, the Bank shall implement and
fully comply with the plan
CONCENTRATIONS OF CREDIT
13. Within 60 days from the effective date of this ORDER, the Bank shall perform a
risk segmentation analysis with respect to the commercial real estate concentrations of
credit listed on the Concentrations page of the Report. The Bank should refer to the
Financial Institution Letter 104-2006 dated December 12, 2006, entitled Concentrations
in Commercial Real Estate Lending, Sound Risk Management Practices, for information
regarding risk segmentation analysis. A copy of this analysis shall be provided to the
Supervisory Authorities. The Bank agrees to develop a plan to reduce any segment of the
portfolio which the Supervisory Authorities deem to be an undue concentration of credit
in relation to the Bank’s capital account. The plan and its implementation shall be in a
form and manner acceptable to the Supervisory Authorities as determined at subsequent
examinations and/or visitations.
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LENDING AND COLLECTION POLICIES
14. (a) Within 60 days from the effective date of this ORDER, the Bank shall
develop, revise, adopt, and implement written lending and collection policies to provide
effective guidance and control over the Bank’s lending function. Such policies and their
implementation shall be in a form and manner acceptable to the Supervisory Authorities.
(b) The initial revisions to the Bank’s loan policy and practices, required by
this paragraph, at a minimum, shall include the following:
(i) revisions to address criticisms and recommendations enumerated
on pages 7-8 of the Report;
(ii) provisions, consistent with FDIC instructions for the preparation of
Reports of Condition and of Income, under which the accrual of interest
income is discontinued and previously accrued interest is reversed on
delinquent loans; and
(iii) provisions which require complete loan documentation, realistic
repayment terms, and current credit information adequate to support the
outstanding indebtedness of the borrower. Such documentation shall
include current financial information, profit and loss statements or copies
of tax returns and cash flow projections.
(c) The Board shall adopt procedures whereby officer compliance with the
revised loan policy is monitored and responsibility for exceptions thereto assigned. The
procedures adopted shall be reflected in the minutes of a Board meeting at which all
members are present and the vote of each is noted.
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INTERNAL LOAN REVIEW
15. Within 60 days from the effective date of this ORDER, the Bank shall adopt an
effective internal loan review and grading system to provide for the periodic review of
the Bank’s loan portfolio in order to identify and categorize the Bank’s loans, and other
extensions of credit which are carried on the Bank’s books as loans, on the basis of credit
quality. Such system and its implementation shall be satisfactory to the Supervisory
Authorities as determined at their initial review and at subsequent examinations and/or
visitations. At a minimum, the grading system shall provide for the following:
(a) specification of standards and criteria for assessing the credit quality of the
Bank’s loans;
(b) application of loan grading standards and criteria to the Bank’s loan
portfolio;
(c) categorization of the Bank’s loans into groupings based on the varying
degrees of credit and other risks that may be presented under the applicable grading
standards and criteria, but in no case, will a loan be assigned a rating higher than that
assigned by examiners at the last examination of the Bank without prior written
notification to the Supervisory Authorities; (d) identification of any loan that is not in conformance with the Bank’s loan
policy; and
(e) requirement of a written report to be made to the Board and audit
committee, not less than quarterly after the effective date of this ORDER. The report
shall identify the status of those loans that exhibit credit and other risks under the
18
applicable grading standards/criteria and the prospects for full collection and/or
strengthening of the quality of any such loans.
STRATEGIC PLAN
16. (a) Within 90 days from the effective date of this ORDER, the Bank shall
prepare and submit to the Supervisory Authorities for review and comment an update to
the Bank’s existing business/strategic plan covering the overall operation of the Bank. At
a minimum the plan shall establish objectives for the Bank’s earnings performance,
growth, balance sheet mix, liability structure, capital adequacy, and reduction of
nonperforming and underperforming assets, together with strategies for achieving those
objectives. The plan shall also identify capital, funding, managerial and other resources
needed to accomplish its objectives. Such plan shall specifically provide for the
following:
(i) goals for the composition of the loan portfolio by loan type
including strategies to diversify the type and improve the quality of loans
held;
(ii) goals for the composition of the deposit base including strategies to
reduce reliance on volatile and costly deposits; and
(iii) plans for effective risk management and collection practices.
(b) Within 30 days from the receipt of any comments from the Supervisory
Authorities, and after due consideration of any recommended changes, the Board shall
approve the business/strategic plan, which approval shall be recorded in the minutes of a
Board meeting.
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PROFIT PLAN
17. (a) Within 90 days from the effective date of this ORDER, the Bank shall
formulate and implement a written plan to improve and/or sustain Bank earnings. This
plan shall be forwarded to the Supervisory Authorities for review and comment and shall
address, at a minimum, the following:
(i) goals and strategies for improving and sustaining the earnings of
the Bank;
(ii) the major areas in, and means by which the Bank will seek to
improve the Bank’s operating performance;
(iii) realistic and comprehensive budgets;
(iv) a budget review process to monitor the income and expenses of the
Bank to compare actual figures with budgetary projections;
(v) the operating assumptions that form the basis for, and adequately
support, major projected income and expense components; and
(vi) coordination of the Bank’s loan, investment, and operating policies
and budget and profit planning with the funds management policy.
(b) Following the end of each calendar quarter, the Board shall evaluate the
Bank’s actual performance in relation to the plan required by this paragraph and shall
record the results of the evaluation, and any actions taken by the Bank in the minutes of
the Board meeting at which such evaluation is undertaken.
(c) Thereafter, the Bank shall formulate such a plan and budget by November
30 of each subsequent year. These plans and budgets shall be submitted to the
20
Supervisory Authorities for review and comment by December 15 of each subsequent
year.
INTEREST RATE RISK MANAGEMENT
18. Within 60 days from the effective date of this ORDER, the Bank shall develop
and implement a written policy for managing interest rate risk in a manner that is
appropriate to the size of the Bank and the complexity of its assets. The policy shall
comply with the Joint Agency Policy Statement on Interest Rate Risk and Financial
Institution Letter 02-2010 entitled Financial Institution Management of Interest Rate
Risk, shall be consistent with the comments and recommendations detailed in the Report
and shall include, at a minimum, the means by which the interest rate risk position will be
monitored, the establishment of risk parameters, and provision for periodic reporting to
management and the Board regarding interest rate risk with adequate information
provided to assess the level of risk. Such policy and its implementation shall be
satisfactory to the Supervisory Authorities.
VIOLATIONS OF LAWS AND REGULATIONS
19. Within 60 days from the effective date of this ORDER, the Bank shall eliminate
and/or correct all violations of law and regulation, which are more fully set out in the
Report. In addition, the Bank shall take all necessary steps to ensure future compliance
with all applicable laws and regulations.
CONFLICTS OF INTEREST
20. Within 30 days from the effective date of this ORDER, the Bank shall develop,
adopt, and implement written policies and procedures designed to bring to the attention of
each member of the Board conflicts of interest which may exist in approving loans or
21
other transactions in which officers, directors or principal shareholders of the Bank
(“Insiders”) are involved. Such policies and procedures shall, at a minimum, ensure that
each member of the Board has been apprised of any potential conflict prior to making a
decision, or acting specifically on any loan or other transaction in which Insiders and/or
their business associates are, directly or indirectly, involved. The results of any
deliberations by the Board regarding potential conflicts shall be reflected in the minutes
of its meetings.
NO MATERIAL GROWTH WITHOUT NOTICE
21. While this ORDER is in effect, the Bank shall notify the Supervisory Authorities
at least 60 days prior to undertaking asset growth to ten percent (10%) or more per annum
or initiating material changes in asset or liability composition. In no event shall asset
growth result in noncompliance with the capital maintenance provisions of this ORDER
unless the Bank receives prior written approval from the Supervisory Authorities.
DISCLOSURE
22. Following the effective date of this ORDER, the Bank shall send to its shareholders
or otherwise furnish a description of this ORDER in conjunction with the Bank’s next
shareholder communication and also in conjunction with its notice or proxy statement
preceding the Bank’s next shareholder meeting. The description shall fully describe the
ORDER in all material respects. The description and any accompanying communication,
statement, or notice shall be sent to the FDIC, Division of Supervision and Consumer
Compliance, Accounting and Securities Disclosure Section, 550 17th Street, N.W., Room
F-6066, Washington, D.C. 20429 and to the OFR, Division of Financial Institutions, 200
East Gaines Street, Tallahassee, FL 32399-0371, at least fifteen (15) days prior to
22
dissemination to shareholders. Any changes requested to be made by the FDIC and the
OFR shall be made prior to dissemination of the description, communication, notice, or
statement.
PROGRESS REPORTS
23. (a) Within 45 days from the end of the first quarter following the effective
date of this ORDER, and within 45 days of the end of each quarter thereafter, the Bank
shall furnish written progress reports to the Supervisory Authorities detailing the form
and manner of any actions taken to secure compliance with this ORDER and the results
thereof. Such reports shall include a copy of the Bank’s Reports of Condition and
Income.
(b) Such reports may be discontinued when the corrections required by this
ORDER have been accomplished and the Supervisory Authorities have released the Bank
in writing from making further reports.
(c) All progress reports and other written responses to this ORDER shall be
reviewed by the Board and made a part of the minutes of the appropriate Board meeting.
The provisions of this ORDER shall not bar, estop, or otherwise prevent the
FDIC, the OFR, or any other federal or state agency or department from taking any other
action against the Bank or any of the Bank’s current or former institution-affiliated
parties.
This ORDER shall be effective on the date of issuance.
The provisions of this ORDER shall be binding upon the Bank, its institutionaffiliated
parties, and any successors and assigns thereof.
23
The provisions of this ORDER shall remain effective and enforceable except to
the extent that, and until such time as, any provisions of this ORDER shall have been
modified, terminated, suspended, or set aside in writing.
Issued Pursuant to Delegated Authority.
Dated this 5th day of May, 2010.
/s/
By: ________________________
Thomas J. Dujenski
Regional Director
Division of Supervision and Consumer Protection
Atlanta Region
Federal Deposit Insurance Corporation
The Commissioner of the OFR having duly approved the foregoing ORDER, and
the Bank, through its Board, agree that the issuance of said ORDER by the FDIC shall be
binding as between the Bank and the OFR to the same degree and to the same legal effect
that such ORDER would be binding if the OFR had issued a separate ORDER that
included and incorporated all of the provisions of the foregoing ORDER, pursuant to
Chapters 120, 655, and 658, Florida Statutes (2009), including specifically Sections
655.033 and 655.041, Florida Statutes.
Dated this 4th day of May, 2010.
/s/ _______________________________ Linda B. Charity
Director Division of Financial Institutions
Office of Financial Regulation
By Delegated Authority for the Commissioner, Office of Financial Regulation

Property Type: Select Property Type AcreageCommercialCommercial – LotResidential – LotResidential – Single Family $450,000.00Contact:Brice Pelfrey Tallahassee Land Company 850-385-6363 bpelfrey@tlhland.com CommercialLocation: 1221, 1223, 1227, 1231 E Lafayette St Tallahassee, FL 32301 Lafayette Retail Center; includes 1221, 1223, 1227 & 1231 East Lafayette St. Strip center located in very busy part of town, just off of Apalachee Pkwy and Magnolia. Strong tenant, over 40 years in location. $575,000.00Contact:Ed Murray Talcor (850) 224-2300 murray@talcor.com CommercialLocation: 201 S MONROE ST Tallahassee, FL 32301 3,150 square foot penthouse office condo for sale in this historic property located one block from the State Capitol. Excellent frontage and street presence. Located on the east side of South Monroe Street, north of Calhoun Street and south of East College Avenue. $70,000.00Contact:Brice Pelfrey Tallahassee Land Company 850-385-6363 bpelfrey@tlhland.com Commercial – LotLocation: XXX Garrett Lane Havana, FL 32333 Great commercial lot in Gadsden County just off of HWY 27 and only minutes off of I-10. Other regional contractors and businesses operate from this accessible location. $115,000.00Contact:Premier Bank (850) 386-4726 (850) 386-2225 realestate@premier-bank.com Commercial – LotLocation: Commonwealth Ln Tallahassee, FL 32303-3196 COMMONWEALTH OFFICE PARK: Superb commercial lot in Tallahassee’s premier office park. Private and governmental offices, distribution, manufacturing, great infrastructure and immediate access to Interstate 10. $499,000.00Contact:Ben Wilkinson Tallahassee Land Company (850) 385-6363 BenW@tlhland.com Commercial – LotLocation: 1907 Miccosukee Rd Tallahassee, FL 32303 1907 MICCOSSUKEE ROAD: Finished office site ready for construction! Parking, storm water, curb and gutter, sidewalks, are all complete. $80,000.00Contact:Jason Naumann Naumann Real Estate (850) 325-1681 jason@naumangroup.com Residential – Single FamilyLocation: 540 McNair Road Havana, FL 32333 Investment or starter home in the country east of Havana. 3 bedroom, 2 bath home with garage on .81 large acre lot. $87,000.00Contact:Brice Pelfrey Tallahassee Land Company 850-385-6363 bpelfrey@tlhland.com Residential – Single FamilyLocation: 4262 Ridgehaven Rd Tallahassee, FL 32305 WILSON GREEN: Great first home or investment opportunity in Wilson Green! 1325 square foot home with 3 bedrooms, 2 baths, garage and eat in kitchen. $18,000.00Contact:Mark Trafton Armor Realty of Tallahassee 850.893.2525 Residential – LotLocation: XX Lake McKissack Lane Carrabelle, FL 32322 Lakefront Lot on Lake McKissack, Franklin County. On fresh water just a hop, skip and jump from the Gulf. $18,000.00Contact:Mark Trafton Armor Realty of Tallahassee 850.893.2525 Residential – LotLocation: White Oak Dr Monticello, FL 32344 Price Reduced on this great 1 acre corner lot in The Sanctuary. Beautiful oaks, new neighborhood in Jefferson County off of Hwy 59. $25,000.00Contact:Mark Trafton Armor Realty of Tallahassee 850.893.2525 Residential – LotLocation: Coquina Crossing Dr St Marks, FL 32355 VILLAGES OF ST MARKS: Wooded lot in neighborhood just outside St. Marks on the Wakulla River. Great private subdivision with amenities. $22,500.00Contact:Premier Bank (850) 386-4726 (850) 386-2225 realestate@premier-bank.com Residential – LotLocation: 4586 RICE DR Tallahassee, FL 32304 Lots 2, 3, 4, 5, & 11 for sale in new neighborhood. Secluded quiet cul-de-sac with nice homes tucked away off of Ross Road. $35,000.00Contact:Mark Trafton Armor Realty of Tallahassee 850.893.2525 Residential – LotLocation: Mexico Ln Tallahassee, FL 32301 Two wooded residential lots located off of Meridian St just north of Putnam. Located along unimproved City right of way. $40,000.00Contact:Brice Pelfrey Tallahassee Land Company 850-385-6363 bpelfrey@tlhland.com Residential – LotLocation: 3068 Elmwood Drive Tallahassee, FL 32317 2/3 acre Residential Lot on Elmwood Drive off of Walden Road, close to Mahan Drive. $42,000.00Contact:Brice Pelfrey Tallahassee Land Company 850-385-6363 bpelfrey@tlhland.com Residential – LotLocation: 3049 BIDHURST CT Tallahassee, FL 32317-7486 PRICE REDUCED! Lots 8, (10 sold), 13, 14 Adiron Woods. Beautiful neighborhood, quiet cul-de-sac, great location as soon as you get onto Walden Rd. off Mahan before I-10. $220,000.00Contact:Mark Trafton Armor Realty of Tallahassee 850.893.2525 Residential – LotLocation: XXX Lonnie Road Tallahassee, FL 32308 4.79 acres – Beautiful wooded property located on Lonnie Road off of Miccosukee Road. Two parcels; 1.91 acre and 2.88 acres. Great for private homestead or long term investment. Has been approved for residential subdivision with 26 lots. All close to shopping, schools, only minutes from town. $327,000.00Contact:Ben Wilkinson Tallahassee Land Company (850) 385-6363 BenW@tlhland.com AcreageLocation: HIGHWAY 59 aka GAMBLE RD Monticello, FL 32344 Acreage in Jefferson County on SR 59 (Gamble Rd). 112 acres in two contiguous tracts, 35 acres and 77 acres. Approximately 2 miles south of I-10, it takes less time to get to downtown Tallahassee than from Killearn Lakes Plantation. $875,000.00Contact:Brice Pelfrey Tallahassee Land Company 850-385-6363 bpelfrey@tlhland.com AcreageLocation: Silver Lake Rd Tallahassee, FL 32310 436 acres level, partially wooded land southwest of Tallahassee. Level topography. Engineering plans, environmental studies and development plans are all available for review.

Southern Bank Popular Bluff Missouri

Gregg Steffins took $10MM of tax payer money that he won’t pay back

It’s O.K. he makes $251K for destroying the bank

Is Greg morally bankrupt?

Southern Bank Popular Bluff Missouri took $10MM in bailout funds which they have yet to repay.

The company has assets of $522MM and equity of $44MM.

The bank had net income of $4MM in FY10, $3MM in FY09 and $3MM  in FY08.

How come they, they haven’t paid back the tax payer funding?

At least Greg Steffins was paid $251k.

Bloomfield State Bank Bloomfield Indiana

Is this guy/girl watching your money

Where is the $10MM you took from the tax payer?

Bloomfield State Bank Bloomfield Indiana was founded in 1873.  The company took $10MM in tax payer bailout money which they haven’t paid back.

The bank has assets of $427MM with equity of $38MM.

The actual equity is $28MM, when the tax payer loan is backed out.

They have $10MM in bad loans.

The non accrual could severely erode the equity base.

Net income was ($3.7MM) in FY10 and ($1.2MM) in FY09.

Now how are they going to pay the $10MM back?

They don’t appear to like posting their financial condition on the website.

Do you have money in this bank?

Penn-Liberty Bank Wayne Pennsylvania

 

Penn-Liberty where the f$5? is the $10MM you took from the tax payer

Give me liberty? How about giving back the $10MM to the tax payer

Penn-Liberty Bank Wayne Pennsylvania was founded in 2004.  The company took $10MM government bailout funds which it hasn’t repaid.

The company has $470MM in assets with $41MM in equity.

Net income was ($4MM) in FY10 and ($2MM) in FY09.

How are they going to pay back $10MM based on this financial performance?.

Regent Bank Davie Florida

Take a look at the new site

capital2risk.com

This is Sid Spiro he stole $10,000,000 in tax payer money

Sid haven’t even paid interest on the money you stole since 8/10

Sid is a criminal

Cyril where the hell is the $10,000,000 you stole?

Wonder why this clown is bald? He lost $5,363,000 in Q4 2011 alone

This idiot is sitting on $31,00,000 in bad loans

Sid got this place on the problem bank list

The efficiency ratio is 102%, this dope loses money just opening up the doors

The Texas ratio is 78%

Check out the ROE (20%)

Sid Spiro took $10MM in tax payer money, which he won’t repay

Then again Sid hasn’t even paid interest on these funds since 8/10

They are on the problem bank list for weakness in mangement

With $43MM in bad loans and $31MM in equity, it is no wonder Sid is bald

Regent Bank Davie Florida was founded in 1986.  The company took $10MM in tax payer funded bailout money, which it has decided to not repay.  Then again, they haven’t even made a interest payment on  these funds since 8/10.  So, the tax payer has to pay interest but the bank doesn’t have to?  They are on the prestigious problem bank list.  They were cited for having weakness in management, capital, earning and liquidity. What else is there.  It appears as if the made some bad commercial real estate loans.  Shocking a bank in Florida making bad real estate loans. “Regent” the one thing this place rules, is in making bad commercial real estate loans.

The company has $474MM in assets and $41MM in stated equity.

The actual equity is $31MM when you back out the $10MM tax payer loan.

The problem loan situation is phenomenal.  They have $43MM in bad loans.

Check this out, they have $43MM in bad loans and $31MM in equity.

This place is bankrupt.

Why aren’t they shut down?

Net income was ($2MM) in FY10 and ($1.6MM) in FY09.

It looks like the tax payer is not getting paid back.

This bank is a disaster.

Do you have money in this place?

Greer State Bank Greer South Carolina

Take a look at the new site

capital2risk.com

This is Ken Harper he took $10MM of your tax payer money, which he won’t pay back

This fat cat hasn’t even paid interest on the money he took, from you since 10/10

Ken Harper makes $266k a year to take your money and run this bank into the ground

This includes country club fees of $12,000 and cell expenses of $9,200

Hold on the tax payer is paying for this fat slob to play golf and he won’t even pay interest on the money he stole?

Does this guy look hungry? he has 3 chins

This fat slob steals your tax payer money to play golf, he is a criminal  

Greer State Bank Greer South Carolina was founded in 1989.  The company took $10MM in tax payer funded bailout money which it won’t return.  In fact, they haven’t even made an interest payment since 10/10.  It’s pretty good when the bank doesn’t have to pay interest on money they borrow!  However, they are not on the problem bank list believe me, this place has problems.

The bank has assets of $438MM with stated equity of $18MM.

The actual equity is $8MM, as the $10MM owed to the tax payer is debt not equity.

This where your tax payer money is going to pay for Greer to go to the Oktoberfest!

The problem loan situation is incredible.  They have $26MM in problem loans, with $18MM on non accrual.

Hold on, they have $10MM in equity and $26MM in bad loans.

This bank is bankrupt.

Why haven’t they been shut down?

Then again, why aren’t they on the problem bank list?

This place is also adept at losing money.

Net income was ($8MM) in FY10, ($1MM) in FY09 and ($5MM) in FY08.

They lost another $1.6MM in Q2 2011.

How are they going to pay the tax payer back $10MM?

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

Kenneth Harper     made $266k

Victor Grout            made $161k

Richard Medlock   made $147k

So, Kenneth Harper makes $266k to lose $16MM and takes $10MM of tax payer money?

Kenneth Harper doesn’t even pay interest on the $10MM he took from the taxpayer.

How about  just paying interest on the debt.

Remember Kenneth, this is tax payer money you took.

That’s good pay for wiping out a company and losing millions of dollars!

How about putting this clown in jail?

Is this your bank?

Take your money out of this place

Home Town Bank Roanoke VA

Take a look at the site

capital2risk.com

http://www.capital2risk.com/home-town-bank-roanoke-v/

This is Susan Still, she took $10MM of your tax payer money, which she won’t pay back

She gets paid $208k to bankrupt this place

Home Town Bank Roanoke Virginia was founded in 2005.  The company took $10MM in tax payer bailout money which it won’t pay back.

The bank had $353MM in assets with $27MM in equity.

The actual equity is $17MM, when the tax payer funded preferred stock.

The company has $7MM in problem loans.

The non accrual could potentially wipe out another 35% of the equity.

Net income was ($3.6MM) in FY10 and $539k in FY09.

At this rate how are they going to pay the tax payer back $10MM? It doesn’t look good.

Susan Still   makes $208k

William Moses makes $125k

They pay Susan Still good money to destroy this company.

It didn’t take this place long to steal tax payer money and go bankrupt.

When is the last time the government gave you $10MM, that you didn’t have to pay back?

Century Bank Sante Fe New Mexico

Century  Bank Sante Fe New Mexico was founded in 1910.  The company took $10MM in tax payer funding which it won’t repay.

The bank has $520MM in assets with $56MM in equity.

The actual equity is $46MM when the tax payer funds are backed out.

The company has $17MM in problem loans.

Net income was $917K in FY10, how long will it take them to  pay back $10MM?

10 years if they are lucky.

They do have an impressive list of real estate for sale.

The bank doesn’t like to post it’s financial statements, don’t worry it is not that hard to find.

Uwharrie Capital Corporation Albemele North Carolina

 

This is Roger Dick? He took $10MM of your tax payer money, which he won’t pay back

Roger got paid $402k last year

The company only made $68k last year

Based on this financial performance how long will it take this Dick to pay you back $10MM?

 

Uwharrie Capital Corporation Albemele North Carolina took $10MM in tax payer funded bailout money which they have neglected to pay back.  However, they were able to pay dividends to their shareholders.

The company has $535MM in assets with $42M in equity.

Net income was $68k in FY10 and $42K in FY09.

Based on these earnings, how long will it take them to pay the tax payer back $10MM, try 200 years?

The executives get paid well for generating no net income.

Roger Dick                       made   $402k

Brendan Duffy                made $351k

Robert Bratten               made $125k

Christy Stoner                 made $247k

Bill Lawton                       made $161k

Roger Dick and Brendan Duffy combined make 11 times what the company makes?

This management team gets paid well to generate no income for the shareholders!

Roger Dick?

They should hire Anthony Weiner

Christy Stoner? Christy might be a stoner but gets paid well to steal tax payer money

Is this your bank?

This place is a disaster, they steal tax payer money and run this place into the ground.

Roger may be a dick but he pays himself $409k a year and won’t pay back your tax payer money, he might be a weiner

Atlantic Stewardship Bank Midland Park New Jersey

 

This is Paul Van Ostenbridge, he took $10MM of your tax payer funded bailout money

He gets paid $295k per year, while he wiped out the stockholders

This clown racked up $48MM in bad loans

Paul, how are you going to pay back the $10MM, you can’t

Atlantic Stewardship Bank Midland Park New Jersey was founded in 1985.  The company took $10MM in government bailout funds which it has not repaid.  The stock is delisted.  For some reason, they are not on the problem bank list.

The company has $683MM in assets with $58MM in equity.

The actual equity is $48MM, as the $10MM in preferred stock from the tax payer is really debt.

The problem loan portfolio is $43MM, with $27MM in non accrual.

They have $43MM in bad loans with $48MM in equity?  The non accrual alone could eradicate the equity.

This place is insolvent.

Why aren’t they closed down?

Why aren’t they on the problem bank list at least?

Net income was $683k in FY10.

How are they going to pay back $10MM?

At least the executives have taken care of themselves.

Paul Van Ostenbridge     made  $295k

Claire Chadwick                  made $155k

John Han                              made   $135

Julie Holland                      made   $135

Not bad pay for running this thing into the ground.

Hey Mark, how about paying the tax payer back then $10MM.

You pay yourself $295k to make $43MM in bad loans and wipe this place out.

How about using some of salary to pay back the tax payer the $10MM you stole.

This team has done a great job of stewardship over this place.

How about using that tithing cash to pay back the money you stole from the tax payer.

This place is bankrupt.

Do you have money in this bank?

They are the stewards of make bad loans.

Northway Bank Berlin New Hampshire

Northway Bank Berlin New Hampshire was founded in 19934.  The company took $10MM in bailout funds which it hasn’t repaid.

They have $826MM in assets with $69MM in equity.

The company has $29MM in problem loans.

Net income was $5MM in FY10 and $2MM in FY09.

Why haven’t they used these funds to repay the tax payer?

Lake Sunapee Bank Newport New Hampshire

How about this guy for CEO

He can’t be any worse then Stephen Ensign

Lake Sunapee Bank Newport New Hampshire accepted $10MM in tax payer funded bailout money, which it has not paid back.

The company has $995MM in assets with $92MM in equity.

Net income was $7MM in FY10, $6MM in FY09 and $5MM in FY08.

With this profit generation, why haven’t they paid back the tax payer funds yet?

The executives haven’t been impacted.

Stephen Ensign     made  $537k

Stephen Thoroux made  $405k

Tax  payer                               0

National Bank of California Los Angeles California

 

This is Barry Uzel the CEO, took $9MM of your money which he won’t pay back

Don’t worry, Barry also wiped out the stockholders as the stock is de listed

Barry got the bank on the problem bank list

Barry lost this bank $9MM in the last 2 years, how is going to pay back the $9MM?

Barry makes $618k including a country club membership and a car allowance

No only is he good at losing money, he racked up $28MM in bad loans

National Bank of California Los Angeles was founded in 1982.  The company took $10MM in tax payer funded bail out money which it has decided to not repay.  The company is on the problem bank list.  The company stock is also delisted.

They have $381MM in assets with $42MM in equity.

The actual equity is $32MM, as the $10MM in bailout money is debt, not preferred stock.

The company has $28MM in problem loans.

The bank has $28MM in problem loans with only $32MM in equity!

This place is bankrupt.

Why hasn’t it been shut down?

Net income was ($5MM) in FY10 and ($3MM) in FY09.

How are they going to pay the tax payer back $10MM, they can’t and they don’t seem to care.

The executives won’t pay the tax payer back, but they are paying themselves well to run this thing into the ground.

Barry Uzel          made  $618k

Richard Ritte     made $322k

Scott Peterson   made $270k

Don’t worry, the compensation includes club fees and car allowances.  That is a good use of tax payer money.

So Barry Uzel made $618k, to lose $5MM, wipe out this company and he gets $10MM in tax payer money, which he won’t pay back.

Barry Uzel bankrupted your bank .

Only in America!

Is this your bank? Don’t take your money out, Barry needs it for his country club fees.

Then again, he has $10MM in tax payer money to pay for club fees.

Mid-Wisconsin Bank Medford Wisconsin

This Bob Taubenheim

Bob took $10,000,000 in tax payer money which he won’t pay back

Bob you lost $3,622.000 in Q4 2011 a loan

Bob how the F$$ck are you going to pay back the tax payer the $10,000,000 you stole?

These clowns are sitting on $15,000,000 junk loans

The efficiency ratio is 82%, these idiots lose money just showing up for work

This bank survived the Great Depression, will it survive this clown?

Bob wiped out a 100 year old bank

Take your money out of this disaster

This bank took $10MM in bailout money which it won’t pay back

This is Scot Thompson, why is smiling? Scot stole $10,000,000 of your money

Check out Bill Weillend

Mid-Wisconsin Bank Medford Wisconsin was founded in 1868.  The company took $10MM in tax payer funded bailout money which it has decided to not repay.

The company has $505MM in assets with $46MM in equity.

The actual equity position is $36MM, when the $10MM government is categorized as debt, which it is.

The bank has $20MM in problem loans.

With $36MM in equity and $20MM in problem loans, the situation is not good.  Especially, when $16MM are on non accrual.

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

How long will it take them to pay the tax payer back $10MM?

Mid Penn Bank Millerburg Pennsylvania

Might as well trust this guy with your money, can’t be any worse than these clowns

Mid Penn Bank Millersburg Pennsylvania was founded in 1868.  The company took $10MM in government bailout money which it hasn’t paid back.

The company has $637MM in assets with $48MM in equity.

The actual equity is $38MM w,en the tax payer funded money is backed out of the equity position.

The problem loan portfolio is $21MM.

So they have $21MM in problem loans with $38MM in equity, that is not a good situation.  The non accrual alone could severely erode the equity position.

How and when are they going to pay the tax payer back the $10MM?

First Bankers Trust Quincy Illinois

Brian Ippensen

The tax payer wants their $10MM back

First Banker Trust Quincy Illinois was founded in 1946.  The company took $10MM in tax payer funded bailout money which it has decided to not repay. The stock it delisted.

The bank has $682MM in assets and $43MM in equity.

Net income was $6MM in FY10 and $5MM in FY09.

Why didn’t they use these funds to repay the tax payer?

Colorado East Bank Lamar Colorado

Colorado East Bank Lamar Colorado was founded in 1905.  The company took $10MM in tax payer funded bailout money, which it has neglected to pay back.

The company has $858MM in assets with $90MM in equity.

The actual equity is $80MM, as the $10MM in bailout money is really debt.

The problem loan situation is incredible with $55MM in bad debt.

They have $55MM in bad debt, with $80MM in supposed equity, that is scary.

Why aren’t they on the problem bank list?

The non accrual alone of $43MM could wipe out the equity base.

The company website provides non financial information or management information.

That is probably good because this whole thing is a disaster.

How are they going to pay back the tax payer $10MM?

First Federal Savings Bank of Iowa Fort Dodge Iowa

Check out the new site

capital2risk.com

This is David Bradley sticking it into you, no lube

First Federal Savings Bank of Iowa Fort Dodge Iowa took $10MM in tax payer funded bailout money, which they haven’t repaid.

The company has $473MM in assets and $35MM in equity.

The actual equity is $25MM, as $10MM is actually tax payer funded debt.

The company has $11MM in problem loans.

Having $25MM in equity and $11MM in problem loans is not a good situation.

How are they going to pay back $10MM.

At least the executives are taken care of.

David Bradley            made $271k

Thomas Chalstrom  made $176k

Pretty good pay for Iowa.

Actually good pay for getting $10MM in tax payer funding and racking up $11MM in bad loans.

United Bank Atmore Alabama

This is Bob Jones the CEO

Bob stole $10,000,000 in tax payer funding which he won’t repay

This dope is sitting on $24,000,000 in junk loans with only $47,000,000 in equity

Bob you got problems

Here is Bob he doesn’t seem worried about paying the tax payer back the $10,000,000 he stole

It doesn’t look like Bob is missing a meal on the tax payer dime

The Texas ratio is 75%

This is one of the the worst banks in the state

Do you have money with Bob Jones? You are Jonesing?

Bob has an impressive selection of vacant land for sale

United Bank Atmore Alabama was founded in 1904.  The company took $10MM in tax payer funded bailout money which it hasn’t repaid.

They have $466MM in assets and $45MM in stated equity.

The actual equity is $35MM when the tax payer funded bailout money is treated as debt, of which it is.

They have $28MM in problem loans.

Having $35MM in equity with $28MM in problem loans is not good.  The non accrual of $25MM will wipe out the equity.

Net income was ($605k) in FY10 and ($3.7MM) in FY09.

So how are they going to pay back $10MM?

Check out the website, they have quite a collection of vacant land for sale.

Mission Valley Bank Sun Valley California

Hire this guy as CEO, he wouldn’t cheat the tax payer or on his wife

Mission Valley Bank Sun Valley California took $10MM in tax payer bailout funds, which they have neglected to repay.  The stock is delisted.

They have $254MM in assets with $33MM in equity.

The equity is actually $23MM, as the $10MM in tax payer funds is debt not equity.

They have $9MM in problem loans which is 39% of the capital base.

They should be on the problem bank list.

Net income was $1MM in FY10 and ($54k)  in FY09

At this rate how long will it take them to pay back the $10MM?

They are on a mission all right, to wipe out the rest of the company equity.

Citizens Bank of Northern California Nevada City California

 

This is Gary Gall in the middle, the CEO

This place is on the problem bank list

It is also one of the worst capitalized banks in the country

This disaster should be bankrupt in no time

Citizens Bank of Northern California Nevada City California was founded  in 1995.  The company took $10MM in tax payer supported bailout funds which they haven’t repaid.  The company is on the problem bank list for weakness in management, earnings, capital and liquidity.   The stock is delisted.  For some reason the cancelled the annual shareholder’s meeting.  It sounds like they had to extend the capital raising period.  Who in their right mind would put money into this place.  The Texas ratio is 134%.

The company is also on the list of under capitalized banks, the tier 1 risk based capitalization is 7.71%.

The company has assets of $328MM and equity of $11MM.

The actual equity is $1MM, as the $10MM in tax payer funding is debt not equity.

The problem loans this bank has is astounding.  They have $43MM in bad debt.

They have $10MM in equity and $55MM in problem loans?

This place is bankrupt.

Why haven’t they been shut down”

Net income was ($5MM) in FY10 and ($12MM) in FY09.

They lost another $4.7MM in Q2 2011.

This management team has wiped out virtually all the equity in this bank.

Do you have money in this bank?

The company doesn’t want to put there financial information on the website.

Gary you got Gall, the CEO , took tax payer money which he refuses to repay.

This guy should be wacked.

Gary Gall wiped out this place.

1st Enterprise Bank Los Angeles California

This is John Black the CEO, he took $10MM of you money

1st Enterprise Bank Los Angeles California was founded in 2006.  The company took $10MM in bailout funds, which they haven’t paid back.

The company has $500MM in assets and $42MM in equity.

Net income was $1.7MM in FY10 and $2MM in FY09.

Why haven’t they used these funds to pay back the tax payer?

Katahdin Trust Patten Maine

 

This is Jon Prescott the CEO, he took $10MM of tax payer funded bailout money

Jon, they want there money back

Katahdin Trust Patten Maine was founded in 1918.  The company received $10MM in tax payer funded bailout  money, which it has neglected to repay.

The company has $508MM in assets and $58MM in equity.

Net income was $4MM in FY10, $3MM in FY09 and $2MM in FY08.

Why haven’t they used these funds to repay the tax payer?

State Bank Northwest Spokane Washington

State Bank Northwest Spokane Washington was founded in 1902.  The company took $10MM in tax payer funded bailout funds which it won’t repay.  For some reason this place is not on the problem bank list.  The Texas ratio is 53%.

The company has $99MM in assets and $10MM in equity.

So, the $10MM in equity is all tax payer funded bailout money.

This bank is being propped up by the tax payer.

100% of the equity is tax payer funded.

Why wasn’t this bank closed.

Why isn’t it it on the problem bank list.

Net income was $39k in FY10 and ($1.1MM) in FY09.

How will this bank repay the tax payer $10MM, they can’t.

Do you have money in this bank?

First Community Bank of America Pinallas Park Florida

Hire her, she can’t be any worse than Kenneth Chevron

First Community Bank of America Pinallas Park Florida was founded in 1988.  The company took $10MM tax payer funded bailout money, which it failed to repay.  The government forgave $7.2MM of these funds, which they called a discount, resulting in the tax payer losing 70% of the bailout funds.  The Texas ratio was 118% making one on the worst banks in Florida.

The company had $470MM in assets and $28MM in equity.

The bank has $44MM in problem loans.

The company has $44MM in bad loans with $28MM equity.

This bank is bankrupt.

This place should be shut down, not forgiven $7.2MM in tax payer money!

Net income was ($19MM) in FY10, ($5MM) in FY09 and ($3MM) in FY08.

This bank has demonstrated no ability to repay the tax payer.

The executives haven’t been effected, despite wiping out this bank and taking tax payer funds.

Kenneth Chevron     made $370k

Scott Boyle                  made $160k

Ralph Cumbre            made $126k

Clifton Tufts               made  $150k

So this team was paid these salaries, while they government forgave the bank $7.2MM.

Bank Forward Hannaford North Dakota

These guys can’t be any worse then the existing management team

Bank Forward Hannaford North Dakota was founded in 1927.  The company took $11MM in tax payer funded bailout funds, which has neglected to repay. The company is not on the problem bank list, though it should be.  The Texas ratio is 43%, the second worst in the state.

They have $485MM in assets and $41MM in equity.

Actual equity is $30MM, when you back out the so called preferred stock which is debt owed to the tax payer.

The problem loan portfolio is $26MM.

The bank has $26MM in problem loans with $30MM in debt!

This bank is insolvent.

Why aren’t they on the problem bank list?

Net income was ($3MM) in FY10 and ($3MM) in 09.

When is the tax payer getting the $11MM back?

“Bank Forward”?

Presideo Bank San Fransisco California

 

This is Steve Heitel on the right

He took $11MM on you tax payer bailout funds, which he can’t pay back

He lost an average on $3MM per year over the last 3 years, at that rate how long will it take to repay $11MM

Don’t worry, he also wiped out all the stockholders, the stock is delisted

Why  is Steve smiling? he wiped this place out in record time

Presideo Bank San Fransisco California was founded in 2006.  The bank took $11MM in tax payer funded bailout money, which they decided to not repay.  The stock is delisted.

The company has $241MM in assets and $39MM in equity.

The net income was ($3MM) in FY07, ($4MM) in FY08, ($3MM) in FY09 and finally they made $901K in FY10.

This place made money in one year since they opened.

How long will it take them to pay back the tax payer $11MM, a decade if they are lucky!

Ridge Stone Bank Brookfield Wisconsin

That is Bruce Lammars on the right, the president

He took $11MM in bailout money, which he won’t repay

Then again, Bruce hasn’t even paid interest on these funds since 8/09

Bruce also got this place on the problem bank list, they were citied for “weak management”, shocking

He racked up $59MM in bad loans

So why is this guy getting an award?

Ridge Stone Bank Brookfield Wisconsin was founded in 1995.  The company took $11MM in tax payer funded bailout money, which it hasn’t repaid.  As a matter of fact, they haven’t even paid interest on these funds since 8/09.  Interesting, the bank doesn’t have to pay interest on it’s own debt.  They are on the problem bank list as they were cited for having weak management, asset quality, capital and liquidity.  The Texas ratio is  83%, wow.

The company has $463MM in assets with $49MM in equity.

The actual equity is $38MM when the $11MM of so called preferred stock is back out, as it is actually debt.

The problem loan portfolio is profound.  The have $59MM in problem loans.

They have $59MM in problem loans with $38MM in equity. The non accrual is $43MM, this alone will wipe out the equity position.

This bank is bankrupt.

Why isn’t this thing closed down.

How are they going to pay back the $11MM, they can’t.

Their motto “making success happen”?

They might want to change their motto, this company doesn’t look like success

First Capital Bank Glenn Allen Virginia John Presely took $10,000,000 in bailout money

A future CEO, rosemary’s baby can’t be worse than John Presley at $263k a year

First Capital Bank Glenn Allen Virginia was founded in 1998.  The company took $10MM in tax payer funded bailout money that it hasn’t repaid, in fact they probably can’t pay it back.  For some reason they aren’t on the problem bank list, believe me this thing has problems.

The bank has assets of $536MM with stated equity of $43MM.

The actual equity is $33MM, as the $10MM in preferred stock is actually debt owed to the tax payer.

The company has $26MM in problem loans.

They have  $26MM in problem loans and $33MM in equity.

This bank is insolvent.

Why aren’t they closed down.

Why aren’t they on the problem bank list.  Maybe Virginia has already hit it’s quota.  This is a tough state in which to get on the problem bank list, you have to really suck.

Net income was ($2.8MM) in FY10 and ($195k) in FY09.

So how are they going to pay the $10MM.

They have quite an array of vacant land they are trying to sell, maybe they can give that back to the tax payer.

Rest assured the executives aren’t bearing the brunt of the disaster they caused.

John Presley      made  $263k

Robert Watts      made $248k

Gary Armstrong made $195k

That is good pay for destroying a company so quickly.

They might want to change the name, capital is not there strong point.

How about First vacant lot.

Stonebridge Bank West Chester Pennsylvania

Take a look at the new site

CAPITAL2RISK.COM

This disaster lost $9,500,000 in Q4 2011

This bankrupt bank has $35,000,000 in bad loans and $16,000,000 in equity, this thing is bankrupt

This bank stole $10,000,000 in tax payer money

Stonebridge Bank West Chester Pennsylvania was founded in 1999.  The company took $10MM in tax payer funds which it neglect to pay back.  For some reason they aren’t on the problem bank list, let me tell you, this  place has problems.

In Q3 2011 the equity position went from  $25MM to $19MM as they lost another $7MM

These clowns wiped out 38% of the remaining equity in 90 days.

The company has assets of $385MM and stated equity of $20MM.

The actual equity is $10M, as the tax payer bailout is debt not equity.

The problem loans are astonishing.  The have $43MM in problem loans.

So, they have $56MM in problem loans with only $10MM equity.

This place is beyond bankrupt.

Why haven’t they been shut down?

Why aren’t they on the problem bank list?

Net income was ($4MM) in FY10 and ($3MM) in FY09.

They lost another $5.8MM in Q2 2011.

So how are they going to pay the tax payer back $10MM.  They can’t.

They haven’t posted the financial statements on the website since Q2 FY10, do you think this might be a problem?

This place is a disaster, it didn’t take this management team long to run this thing into the ground.

Do you have money in this place, you might want to jump off the bridge.

Stoned bridge?

Has anyone seen the bridge?

Brotherhood Bank & Trust Kansas City Kansas

Another fine candidate

Brotherhood Bank & Trust Kansas City Kansas was founded in 1924.  The bank accepted $10MM in tax payer funded bailout funds which it still hasn’t returned.

The bank has $505MM in assets with $52MM in stated equity.

The actual equity position is $42MM when the tax payer debt is backed out.

The company has problem loans of $17MM which could erode the equity base.

Net income was ($1.6MM) in FY10 and ($6MM) in FY09.

So how are they going to pay the $10MM back?

Steele Street Bank Denver Colorado

This is Bob Malone, the president

Bob took $11MM in bailout money which he won’t pay back

Steele Street Bank Denver Colorado was founded in 2003.  The company took $11MM in tax payer bailout money which it has neglected to pay back.

The company had assets of $364MM and equity of $35.

Net income was $4MM in FY10 and $1MM in FY09.

Why haven’t they used these funds to repay the tax payer?

They might want to change the name to Steal Street Bank.

Midwest Bank of Western Illinois Monmouth Illinois

Not a bad choice to run the company

Midwest Bank of Wester Illinois Monmouth Illinois was founded in 1870.  The company took $11MM in tax payer funded money which is hasn’t paid back.

The company has assets of $283MM and equity of $44MM

The equity position is actually $33MM when the preferred stock, which is actually debt is backed out.

The company had net income of $1MM in FY10.

Based on this financial performance how long will it take them to pay back $11MM, do the math.

Pacific Coast Banker’s Bank San Francisco California

Here is Mike Dohran the CFO

Mike, the tax payer wants the $11MM back

Pacific Coast Banker’s Bank San Francisco California was founded in 1997.  The company took $11MM in tax payer funded bailout money which they have decided to not repay.  The Texas ratio is 32%.

The company has $532MM in assets with $45MM in stated equity.

The actual equity position is $34MM, when you back out the tax payer funded preferred stock, which is debt not equity.

They have $20MM in problem loans all of which are on non accrual.

So, they have $20MM in problem loans with $34MM in equity, the non accrual could easily wipe out the equity position.

This place could be technically insolvent.

Net income was $2MM in FY10, why wasn’t this money used to pay back the tax payer?

Texas Community Bank The Woodlands Texas

Take a look at the new site

capital2risk.com

Texas Community Bank The Woodlands Texas was founded in 2002.  The company  took $11MM in tax payer funded bailout money which the have decided to not repay.  The are on the problem bank list for deficient commercial real estate lending.  The Texas ratio is 95%, making it the 6th worst bank in Texas.

These dopes lost over $5,000,000 in Q4 2011 alone

Where is the $11,000,000 you dumb ass TEXANS stole from the tax payer?

This place has $40,000,000 in bad loans and only $25MM in equity

The F$$cking Texas Community Bank is BANKRUPT!

The company has assets of $374MM and stated equity of $35MM.

The actual equity is $24MM as the $11MM in preferred stock is actual debt owed to the tax payer.

The problem loan situation is immense.  The have $33MM in problem loans, $29MM of which are on non accrual.

So, they have $33MM in problem loans with $24MM in equity.

This place is bankrupt.

Why hasn’t ti been shut down?

Net income was ($3MM) in FY10.

Taking care of business?

How are they going to pay back the $11MM? They aren’t.

They forgot to publish the financial statements on the website, it’s o.k. it’s not hard to find, I just gave it to you.

Mechanics & Farmers Bank Durham North Carolina

This Kim Saunders, she took $12MM in bailout money that hasn’t been repaid

Don’t worry she makes $267k a year

The whole bank made $339k last year, she almost makes more than the whole bank

Mechanics & Farmers Bank Durham North Carolina was founded in 1908.  The company took $12MM in tax payer funded bailout money which it has neglected to pay back.  For some reason, this place is not on the problem bank list.  The Texas ratio is 44%.

The company has assets of $312MM with equity of $36MM.

The actual equity position is $24MM, as the so called preferred stock is actually debt they owe to the tax payer.

The bank has $22MM in problem loans with $24MM in equity, that is a problem.  The non accrual of $18MM alone could wipe this thing out.

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

The net income was $339k in FY10 and $358k in FY09.

At this rate, how are they going to pay back the tax payer $11MM, it should only take 30 years or until 2041.

At least the executive compensation has been strong.

Kim Saunders made $267k

Lyn Hittle        made  $169k

Wow, these two make as much as the whole bank combined.

That is good pay for wiping out a 105 year old institution.

DNB First Downington Pennsylvania

This is William Latoff, he took $11MM in bailout funding, which hasn’t been paid back

Don’t worry, William makes $488k a year

DNB First Downington Pennsylvania was founded in 1861.  The company took $11MM in tax payer funded bailout money which it has decided to not repay.  At least they were able to pay dividends to the stock holders, as they neglected to repay the tax payer.

The company has assets of $602MM with equity of $45MM.

The company had net income of $3MM in FY10 and $1MM in FY09.

Why weren’t these funds used to pay back the $12MM?

Fortunately, the executives still get paid.

William Latoff        made  $488k

William Heib          made   $246k

Albert Melfi            made $225k

Tax payer                  0

Citizens Trust Bank Atlanta Georgia

This is James Young, he took $12MM in bailout money which hasn’t been repaid

He makes $453k per year

The bank made only $315k in FY10, at this rate how long will it take them to pay back $ the $12MM, try 20 years

James makes more than the whole bank

Take a look at the website, James some attractive vacant land for sale

Citizens Trust Bank Atlanta Georgia was founded in 1921.  The company took $12MM in tax payer funded bailout money which they haven’t repaid.  At least they had enough funds to pay a dividend to the shareholders.

The company had $387MM in assets and $45MM in equity.

The actual equity position is $33MM, when you back out the tax payer funded preferred stock, which is debt that is not being repaid.

The company has $20MM in problem loans.

Having $20MM in problem loans and $33MM in equity is not a great situation, the non accrual of $15MM alone could strain the equity base.

How come this bank is not on the problem bank list?

Net income was $315k in FY10 and $715k in FY09.

At this rate, how long will it take to pay the $12MM back to the tax payer, try 20 years.

The executives actually get paid more than the company makes.

James Young made $453k

Cynthia Day     made $258k

Samuel Cox     made $181k

This team does well for generating no income for the bank.

Take a look at the website, they have a good selection of vacant land and abandoned property for sale.

Are you trusting these citizens?

Queensborough Bank & Trust Louisville Georgia

 

                                                                                                                  He can’t be any worse than the current management team

Queensborough Bank & Trust Louisville Georgia was founded in 1902.  The company took $12MM in tax payer funded bailout money which they don’t seem to want to pay back. For some reason they aren’t on the problem bank list, believe me this place has problems.  They may want drop the word trust from their name.  How about rebranding this thing as Queensborough Bankrupt, a bank you probably don’t want to trust.

The company has $930MM in supposed “assets” with $73MM in stated equity.

The actual equity is $61MM when you back out the tax payer unpaid funds.

Check out the problem loan portfolio, it is staggering.  They have $79MM in bad loans?

So, they have $61MM in equity with $79MM in bad loans.

Do you think this place is insolvent?

I guess that depends on what your definition of insolvent is.

Well the FDIC is insolvent, so maybe they haven’t defined insolvent yet.

Why isn’t this place closed down.

Then again, why aren’t they on the problem bank list.

That is probably because they are in Georgia and the Texas ratio is  only 48%.

Net income was ($6MM) in FY10, how are they going to pay back $12MM at this rate?

Check out the website, they have 45 properties for sale, do you need vacant land in Georgia?

It seems like all the properties are located near a church.

Is this place a real estate broker or a bank?

One thing they are is bankrupt.

Take a look, you can get their financial statements by going into a branch.  It looks like I provided it for you right here.

Do you have money in this place?

For some reason, they won’t tell who the management team is.

Would you bank and have trust in this thing?

First National Bank of Northern California San Francisco California

This is Tom McGraw the CEO, he took $12MM in bailout money, which he hasn’t paid back

Don’t worry, the shareholders got paid dividends

Tom made $271k last year

First National Bank of Northern California was founded in 1963.  The bank took $12MM in tax payer funded bailout money which they have chosen to not repay.  Fortunatley, they had money to pay dividends to the investors but couldn’t pay the tax payer back from the money they took?

First National Bank of Northern California

Board of Directors

First National Bank of Northern California; Board of Directors

Standing:	Edward Watson; Ronald Barels; Thomas Atwood; Chief Operating Officer, Anthony Clifford; Merrie Turner Lightner; Mike Pacelli
Seated:	Chief Executive Officer, Thomas McGraw; Chairwoman of the Board, Lisa Angelot; President, Jim Black

The company has assets of $714MM with equity of $80M.

The actual equity is $68MM, as the so called preferred stock is actually debt which they have decided to not repay.

The bank has $35MM in problem loans.

So they have $35MM in bad loans with $68MM in equity, the non accruals are $30MM which could wipe out the equity position.

This place is probably technically insolvent.

This is Tony Clifford, the COO he makes $303,000

Why aren’t they on the problem bank list?

Net income was $2.8MM in FY10, why didn’t they use these funds to repay the tax payer?

They are probably using the funds to pay the executives.

Thomas McGraw made $271k

Jim Black                made $349k

Anthony Clifford  made $303k

David Curtis            made $281k

Good pay for wiping out the equity position.

Regarding the $12MM, the tax payer is feeling like jumping off the Golden Gate bridge

Blue Ridge Bank and Trust Independence Missouri

Blue Ridge Bank and Trust Independence Missouri was founded in1958.  The bank took $12MM in tax payer funded bailout money, which it decided to not repay.

It has assets of $465MM and equity of $40MM.

The actual equity is $28MM when the tax payer funding is backed out.

The bank has problem loans of $18MM.

Having $18MM in bad debt with $28MM in equity is not a good situation, the non accrual of $14MM alone could shatter the equity base.

They had net income of $1MM in FY10 and ($13MM) in FY09.

So how are they going to pay back the $12MM?

For some reason they are not on the problem bank list, this place does have some problems.

PeoplesSouth Bank Colquitt Georgia

A potential investor?

Peoplessouth Bank Colquitt Georgia was founded in 1973.  They took $12MM in tax payer money of which it has made no effort to repay.

The bank has assets of $559MM with stated equity of $45MM.

The actual equity is $33MM when the tax payer funded prefered stock is backed out.

They have $19MM in problem loans.

Having $19MM in problem loans and $33MM in equity is not a good situation.

Net income was $2MM in FY10 and $4MM in FY09.

How come they didn’t use these funds to pay back the tax payer?

Why aren’t they on the problem bank list?

Probably because their Texas ratio is only 59%, which is not bad for Georgia.

Maybe Georgia has already filled its quota of bad banks.

Take a look at the website, this place has more real estate for sale than Caldwell Banker.

If you are in the market for vacant land in Georgia, you should call this place.

Meridian Bank Devon Pennsylvania

This is Chris Annas the CEO he took $12,000,000 in tax payer money

 

Meridian Bank Devon Pennsylvania was founded in 2004.  The company took $12MM in tax payer funded bailout money, which it doesn’t want to pay back.  They were able to pay a dividend to the shareholders, but not repay the tax payer?

The company has $368MM in assets and $31MM in equity.

The actual equity is $19MM, as $12MM is the tax payer debt that is owed.

The banks problem loan portfolio is $14MM.

So, they have $14MM in bad debt with $19MM in equity, that is a little scary.

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

Net income was $1MM in FY10.

At this rate, how long would it take them to pay back $12MM, how does 2023 sound.

This was only the second dividend, they have paid since 2004, great investment.

Then again, shouldn’t they be paying back the tax payer loan instead?

Community Bank Staunton Virginia

Take a look at the new site

capital2risk.com

This is C Douglas Richard he took $12MM in tax payer money, which hasn’t been repaid

At least he made $303k last year

Community Bank Staunton Virginia was founded in 1928.  The company took $12MM in tax payer funded bailout money which it has decided to to not pay back.  the Texas ratio is 44%.

The bank has assets of $541MM and equity of $44MM

The actual equity is $32MM as the $12MM in tax payer money is debt not prefered stock.

The company has $18MM in problem loans, which could severely impact the equity position.

Net income was $3MM in FY10 and ($6MM) in FY09.

How come they didn’t use these funds to repay the tax payer?

It looks like they used them for the executive compensation instead.

The executive compensation was not comprised during this debacle.

P. Douglas Richard   made   $303k

Norman Smiley           made  $187k

R. Jerry Giles              made  $156k

It seems like if you are a lawyer or a banker in the south, you have to stick a letter in front of your first name.  I appears as though you get paid more if you do that.

The Peoples National Bank Easley South Carolina

This is L Andrew Westbrook he took $12,000,000 in tax payer bailout money which he won’t pay back

Andrew makes $299,000 a year

He is sitting on $18,000,000 in bad loans

The Peoples National Bank was founded in 1986.  The company took $12MM in tax payer funded bailout money, which it decided to not return.  The Texas ratio is 76%. Why is this place not on the problem bank list?

This disaster is business of the month?  They took $12,000,000 in tax payer money.

With $18,000,000 in bad  loans, they are the business on the month

The company has $541MM in assets and $52MM in stated equity.

The actual equity is $40MM, as the $12MM in prefered stock is debt owed to the tax payer not equity.

The bank has $13MM in non accrual, which could effectively wipe out another 33% of the equity position.

Net income was ($440k) in FY10.

At this rate, how will they ever pay back the tax payer $12MM? It appears impossible.

Fortunately, the executive compensation was not effected despite this abysmal performance.

Andy Westbrook is third on the right, why is he smiling?

He took $12,000,000 in tax payer money and has $18,000,000 in bad loans

Andy makes $261,000 a year, the tax payer also pays his $6,928 yearly country fees and pays for his car

 

 

Riggie Ridgeway     made  $342k

L Andrew Westbrook   made $299k

William West                 made $237k

I guess if you are a banker or a lawyer in the south, you get to stick an initial in front of your name.

Take a look at the board of directors, 7 of the 15 members have stuck an initial in front of their names?

How does R. Riggie Ridgeway make more than the whole company.

How is Riggie going to pay the taxpayer back $12MM?

I am R. Riggie Ridgeway, I own a mansion and a yacht.

R. Riggie forgot to post the mission statement since 2008.

He forgot to post the annual report since 2009.

R. Riggie forgot to post the quarterly statement since 12/10.

R. Riggie Ridgeway is CEO Emeritus, what does that mean?

This is definitely the Peoples Bank.  Thanks to the tax payer.

Regents Bank Vancouver Washington

Regents Bank Vancouver Washington took $12MM in tax payer bailout money, which it has not paid back.

The company has $322MM in assets and $38MM in equity.

The actual equity is $26MM, when the $12MM of debt is backed out of the equity position.

The net income was $631k in FY10 and $125k in FY09

At this rate, how long will it take them to repay the tax payer funds, how about eternity.

Adams Bank & Trust Ogallala Nebraska

These is the Adams family, they took $13MM in bailout money which isn’t repaid

Better call Uncle Fester

Adams Bank & Trust Ogallala Nebraska was founded in 1962.  The company took $13MM in tax payer funded bailout money, which they won’t repay.

The company has $512MM in assets with $57MM in equity.

The actual equity is $44MM, when you back out the so  called preferred stock

The problem loan portfolio is $8MM, which could severely impact the equity position.

Net income was $2MM in FY10 and $5MM in FY09.

Why haven’t they used these funds to pay back the tax payer?

Have you ever been to Ogallala?

I would take my money out of this disaster

Community First Bank Harrison Arkansas

How about making this hot looking vixon the CEO

Community First Bank Harrison Arkansas was founded in 1997.  The company took $13MM in tax payer funded bailout money which they have decided to not repay.

The company has $540MM in assets and $51MM in equity.

The actual equity position is $38MM, when the $13MM in tax payer funded debt is backed out.

The bank has $12MM in problem loans, this could significantly impact the equity position.

The company had net income of $3MM in FY10 and $2MM in FY09.

Why haven’t they used these funds to back the tax payer?

Horry County State Bank Loris South Carolina

Horry County State Bank Loris South Carolina was founded in 1988.  The company took $13MM in tax payer funded bailout money, which it has refused to pay back.  Then again, it has neglected to pay interest on the funds since 11/10.  For some reason the executives still get paid, despite not paying back the taxpayer.  The Texas ratio is 70%, not good. The stock is delisted, shocking!

The company has assets of $781MM and supposed equity of $20MM.

The actual equity is $13MM because the so called tax payer funded preferred stock is actually debt.

The problem loan portfolio is $45MM.

The bank has problem loans of $45MM and equity of $17MM.

This bank is bankrupt.

Why aren’t they shut down?

Why aren’t they on the problem bank list, believe me, this place has massive problems.

The net income was ($17MM) in FY10 and ($1MM) in FY09.

They lost another $16MM in Q2 2011, that was a good effort.

The bank lost $23MM in Q3 FY2011 wiping out 78% of the equity.  They could be bankrupt be year end.

How are they going to pay the tax payer $13MM?  They can’t, they can’t even pay the interest.

Rest assured the executives still get paid well while they are running this place into the ground.

James Clarkson made $243k

Glenn Bullard     made $177k

Ron Page               made $178k

What do you think, that is good pay for stealing tax payer money and destroying this company.

Check this out, James Clarkson pays himself $243k, he takes $13MM from the tax payer which money, he won’t pay back and doesn’t even pay interest on the money.  He runs up $55MM in bad loans, loses $19MM and wipes out the shareholders.

This guy is a savvy.

They do have one thing, a large portfolio of vacant land.

Doesn’t make them bad bankers.

It makes them rich ones.

Hurray for theses bankers.

Southcrest Bank Tyrone Georgia

Southcrest Bank Tyrone Georgian was founded in 1951.  The company took $12MM in tax payer bailout funding which it has refused t pay back.  The stock is delisted.

The company has $341MM in assets and $30MM in equity.

The actual equity is $18MM, when the $12MM in tax payer money is backed out of equity and is treated as debt.

The company has $50MM in problem loans.

So, they have $50MM in bad loans and $18MM in equity.

This bank is bankrupt.

Why isn’t this place closed down.

Why aren’t they on the problem bank list.

Shocking, the website has no information on their financial condition.

They provide no information on the management team.

This place is a zombie.

Do you have money in this disaster?

Bank of the Carolinas Mocksville North Carolina

Bank of the Carolinas Mocksville North Carolina was founded in 1998.  The company took  $13MM in tax payer funded bailout funds which they have neglect to pay back.  The Texas ratio is 59%.

They have assets of $534MM and equity of $36MM.

The equity position is actually $23, when the tax payer funded debt is backed out.

The problem loan portfolio is staggering at $31MM.

They have $31MM in bad loans with $23MM in equity.

This place is insolvent.

Why aren’t they closed down.  Then again, why aren’t they on the problem bank list?

Net income was ($3MM) in FY10, ($3MM) in FY09 and ($3MM) in FY08.  At least they are consistent at losing money.

Take a look, they lost $12MM in Q2 2011!

At this rate, how are they going to pay back the $13MM?

Maybe this place is a non profit.

Thankfully, the executives are well paid for guiding this train wreck.

Robert Marziano made  $298k

Michael Larowe made  $260k

Harry Hill               made $198k

That’s good pay for running this thing into the ground, in a decade. Imagine what they would pay themselves if they made money.

Mocksville, that is a good location for this place.  I would hate to mock this company.

The average pay in this town is $27,000.

Robert Marziano makes in one year what the average person in this town make in 11 years, yet he causes this company to go bankrupt ,

Wow, this company pays this guy $300K a year to lose $3MM a year and stealing $13MM in tax payer money!

This guy is making a mockery of this company as well as the tax payer.

Do you have money in this mockery?

Oak Valley Bank Oakdale California

Ronald Martin is the CEO, he took $13MM in bailout funding

He made $354k last year

Oak Valley Bank Oakdale, California was founded in 1991.  The company took $13MM in tax payer funded bailout money, which they have neglected to pay back.

They have $529MM in assets and $64MM in equity.

The actual equity is $51MM when the tax payer funded debt is backed out.

The problem loan portfolio is $15MM, which could put a dent into the equity situation.

Net income was $3.7MM in FY10 and $1MM in FY09.  At this rate how long will it take them to pay the taxpayer back?  Then again, why didn’t use funds to pay back the tax payer.

Why did they pay dividends and not the tax payer debt.

The executive pay has not been compromised.

Ronald  Martin                  made  $354k

Christopher Courtney made $277k

Richard McCarty            made $230k

Michael Rodriques        made $177k

Tax payer                                       0

First Bank Strasburg Virginia

First Bank Strasburg Virginia was founded in 1907.  The bank took $14MM in tax payer funded bailout money which it hasn’t paid back.

The company has assets of $544MM and equity of $48MM.

The actual equity position is $34MM when the tax payer funded debt is backed out.

The bank has $18MM in problem loans, which could severely erode the equity base.

Net income was ($4MM) in FY10 and $1MM in FY09, how are they going to pay back $14MM?

However, the executives continue to get paid well.

Harry Smith     made   $289k

M. Shane Bell  made    $187k

Dennis Dysart  made   $172k

I guess you are a lawyer or banker in Virginia, you get to put a letter in front of you name.

Harry, the tax payer wants their $14MM back, where is it?

Check out the website, look under company info., resources, locations, all have no info.

The tax payer is never getting these funds back.

Do you have money in this bank?

Village Bank Midlothian Virginia

 

Thomas Winfree took $15MM of your tax payer funded bailout money, which he won’t pay back

He gets paid $236K a year and got this disaster on the problem bank list

This clown racked up $33MM in bad loans

Winfree?   The tax payer is not winning and it is not free, this fat cat banker should be incarcerated

Thomas, the tax payer wants the $15MM back

 

Village Bank Midlothian Virginia was founded in 1999.  The company took $15MM in taxpayer funded bailout money, which it decided to not pay back. For some reason they are not on the problem bank list but rest assured, this place has problems.  The Texas ratio is 56%.

The company has assets of $591MM and stated equity of $48MM.

The actual equity position is $33MM after you back out the preferred stock, which is debt owed to tax payer not equity.

The problem loan portfolio consists of $16MM on loans 30-90 days past due with $17MM on non accrual.

Hold on, that equates to $33MM in problem loans with only $33MM in equity.

This place is technically insolvent, the non accruals alone could wipe them out.

The bank had net income of $549MM in FY10, ($13MM) in FY09 and $468k in FY08.

Based on this financial performance, how long will it take them to the tax payer back $15MM?  About 30 years, it doesn’t look like they will be around that long.

It least the executives get paid well for destroying this place in record time.

Thomas Winfree        made  $236k

C. Harril Whitehurst  made $207k

Raymond Sanders      made  $202k

I guess down south if you are a lawyer or a banker you get to slap a letter in front of your name to make it official.

It didn’t take this team long to bankrupt this place.

Thomas Winfree, he wins $236k for destroying this company and he gets $15MM in free tax payer money.  Now that is a Winfree!

Look on the bright side, they have some attractive vacant lots and residential land developments for sale.

Do you have money in this bank?

If you are a tax payer Thomas Winfree is stealing your money and has no intention of paying it back

This guy is illegal

Nicolete Bank Green Bay Wisconsin

 

This is Bob Atwell, he took $15MM in TAARP money

The bank made an average of $163k a year, in the last 3 years

At this, how long will it take to pay back $15MM, how about 90 years!

Nicolete Bank Green Bay Wisconsin was founded in 2000.   The company took $15MM in tax payer funded bailout, to prop up their balance sheet.  They have decided to not repay these funds.

The company has assets of $674MM and equity of $65MM.

The actual equity position is $50MM, as the $15MM in prefered stock is debt that they haven’t paid back to the tax payer.

The problem loan portfolio is $19MM.

Having $19MM in bad debt with $50MM in equity is not a great scenario.

Net income was $125k in FY10, $175k in FY09 and $189k in FY08.

Based on this financial performance, how long would it take them to pay back $15MM?

How about a 120 years!

That was a good investment by the tax payer.

Even Brett Farve couldn’t save this place.

Why aren’t they on the problem bank list.

Grand South Bank Greenville South Carolina

Grand South Bank Greenville South Carolina was founded in 1988.    The company took $15MM in tax payer funded bailout money that it has neglected to repay.  The stock was delisted.

They have $362MM in assets with $43MM in stated equity.

The actual equity position is $28MM when you back out the so called preferred stock, which is debt not equity.

The company has $10MM in problem loans.

Net income was (519K) in FY10 and $447K in FY09.

So how are they going to pay the tax payer the $15MM back?

Based on the FY09, they should have it paid back in 33 years!

That is a good use of tax payer money.

Community West Bank Goleta California

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That is Linda Nahra  the CEO on the right, she took $15MM in bailout funds

She makes $307k a year

The bank has $109MM in bad loans, with only $46MM in equity

Hold on, why is she giving a check for $50k away, while she owes the tax payer $15MM

Community West Bank Goleta California was founded in 1989.  The company took $15 in tax payer funded bailout money that they have decided to not return.  For some reason, they are not on the problem bank list.  Maybe not paying back the government is not a problem!

The company has assets of $667M and stated equity of $61MM.

The equity position is actually $46MM, as the tax payer funds are debt not preferred stock.

Check this out, the problem loan portfolio is immense.  They have $22MM of loans that are 30-90 days past due, there are an incredible $87MM on non accrual.

So, they have $109MM in bad loans with only $46MM in equity.

This place is bankrupt.

Why hasn’t the disaster been shut down.

Then again, why aren’t they on the problem bank list?

Good thing we have those regulators.

Net income was $1MM in FY10 and ($6MM) in FY09.

So how are they going to pay the tax payer back $15MM, it’s not happening.

At least the executives don’t have a problem paying themselves.

Linda Nahra                     made $307k

Charles Baltuskonis      made $240k

Richard Fauor                made $222k

Maybe they used the tax payer funds to pay their salaries.

So the company makes a $1MM and they pay themselves $769k , for running this place into the ground!

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

Midwestone Bank Iowa City Iowa

This is Charlie Funk with the green tie, he took $15,000,000 in bailout money, which he won’t pay back

Why is he smiling? He makes $429,000 a year and the tax payer him $15,000,000

Do you have money in this bank? They have $57,000,000 in bad loans

Midwestone Bank Iowa City Iowa was founded in 1934.  The company took $15MM in tax payer funded bailout money, which they have decided to not repay.

The company has $1.5B in assets with $142MM in stated equity.

The actual equity is $125MM as the $15MM in tax payer funding is actually debt not prefered stock,

The problem loan portfolio is significant $57MM.

So, they have $57MM in bad debt, with $125MM in equity.  The problem loans could severely impact the equity position.

The company had net income of $9MM in FY10 and $3MM in FY09.

So, why didn’t they pay back the tax payer?

Fortunately, the executive pay was not impacted.

Charles Funk    made $429k

Gary Ortale       made $304k

Kent Jehle        made  $333k

Susan Evans    made   $273k

That is pretty good pay for Iowa, maybe they are using the tax payer funding to pay these salaries?

Do you have money in this bank?

So Chuck Funk pays himself $429k to take $15MM from the tax payer, which he had decided to not pay back.

Pay Chuck and not the tax payer!

Funky

So this bank pays Chuck Funk to run this place into the ground.

Chuck Grand Funk Rail Roading the tax payer

Is this your bank?

Chuck wants more of your money.

Community Bank of Tri-County Waldorf Maryland

The is the CEO Mike Middleton, he took $16MM in TAARP

He makes $529k a year

Community Bank of Waldorf Maryland was founded in 1950.  The bank took $16MM in tax payer funded bailout money, which it has decided not to repay.

The company has $885MM in assets and $71M in equity.

The bank has $16MM in problem loans.

Net income was $3MM in FY10 and $2MM in FY09.

So why haven’t they used this money to the tax payer back?

At least the executives were well paid.

Michael Middleton made $529k

William Pasenelli     made $441k

Gregory Cockerhan made $346

Maybe they are using the tax payer money to pay these salaries.

With this kind of tax payer money, these boys are crashing at the Waldorf.

Call Michael Middleton, where is the $16MM you stole from the tax payer?

How about putting this guy in jail!

This guy is a criminal, stealing tax payer money and paying himself $529k to bankrupt this place.

Take your money out of this disaster.

Community Bank of Tri-County Waldorf Maryland

Community Bank of Tri-County Waldorf, Maryland was founded in 1950.  The company took $15MM in tax payer funded bailout money and has decided to not repay it.  Though, they do pay themselves pretty well.

The company has assets of $885MM with stated equity of $71MM.

The equity position is actually$55MM, as the preferred stock is actually debt not equity, debt that they won’t pay back.

They had $16MM in problem loans which could further erode the equity position.

The net income was $3MM in FY10 and $2MM in FY09.

So how are they going to pay back the tax payers $16MM?. At this rate they it should be paid off by 2020.

Why haven’t they used the NI to pay down on the loan?

Maybe because they have to make sure the executives are well compensated.

Michael Middleton      made   $529k

William Pasenelli          made  $441K

Gregroy Cockerham    made $346

Not bad, maybe the $15MM went to pay these salaries.

These guys are probably staying at the Waldorf.

Are you giving your money to this crew?

Carolina Bank Greensboro North Carolina

 

This is the CEO Bob Braswell he took $16MM in TAARP money

He hasn’t paid interest since 11/10

He makes $437k, to rack up $38MM in bad loans

Carolina Bank Greensboro North Carolina was founded in 1996.  The company took $16MM in tax payer funded bailout money which it has neglected to return.  It has also chosen not to pay interest since 11/10.  What if the customer decided not to pay interest to them?

The company has $676MM in assets and $53MM in equity.

The  actual equity is $37MM,  as the $16MM in bailout funds is debt not preferred stock.

The problem loan portfolio has $6MM in loans 30-90 days past due and $32MM on non accrual.

So, the bank has $38MM in bad loans with only $37MM in equity.

This bank is bankrupt, why isn’t it closed down?

Then again, why isn’t it on the problem bank list?

The company had net income of ($2MM) in FY10.

The executive compensation has remained strong despite this dismal performance.

Robert Braswell     made  $437k

Gunner Fromen    made  $332k

Allen Liles                made $258k

Philip Carmac    “earned” $641k

This group pays themselves this kind of money but they don’t even pay interest on the tax payer funded bailout money, let alone paying it back.

Do you have money in this place, it appears bankrupt.

Parke Bank Sewell New Jersey

• 

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Ask him where the $16,000,000 in tax payer money he took is

This is the CEO Vito Pantilione, he took $16MM in TAARP, the government said don’t worry about

He makes $759k to rack up $39MM in problem loans

Parke Bank Sewell New Jersey was founded in 1999.  They company took $16MM in tax payer funded bailout money, that they have decided not to repay. For some reason, the company is not on the problem bank list.

The company has $756MM in assets with stated equity of $70MM.

However, $16MM of the equity is not preferred stock, it is debt that should be paid back to the tax payer.

The problem loan situation consists of $10MM in loans that are 30-90 days past due, with $29MM on non accrual.

So that equates to $39MM in problem loans, with only$54MM in equity.

The non accrual alone could wipe out the equity position.

This company is probably technically insolvent.

Why aren’t they on the problem bank list.

They had net income of $6MM in FY10 and $5MM in FY09.

Why couldn’t they have used these funds to repay the tax payer.

The executives remained solvent.

Vito Pantilio        made  $759k

David Middlesbrook  made $228k

Elizabeth Milousky     made  $235k

Looks like this team gets paid well, they aren’t worried about paying the tax payer back

Vito goes a good job at bankrupting this place.

Vito you make $759k, where is the $16MM you took from the tax payer, check your pockets.

Do you  Parke your money in this disaster?

Timberline Bank Hoqiam, Washington

These cats stole your money

 

Timberline Bank Hoqiam Washington was founded in 1915.  The company took $16MM in tax payer funded bailout money, which it has decided to not pay back.  As  a matter of fact, it hasn’t even paid interest on these funds since 2/10.  For some reason they don’t appear to be on the problem bank list.   I guess not paying back the tax payer is not a problem.

The company has $718MM in assets with $79MM in stated equity.

The equity is actually $66MM, as the $16MM in bailout money is debt not so called preferred stock.

The problem loan portfolio consists of $28MM in loans 30-90 days past due, with non accrual of $31MM.

That makes for $59MM in bad loans with only $66MM in equity.

This bank is probably technically insolvent.

Why are they not on the problem bank list?

Net income was ($3MM) in FY10 and ($1MM) in FY09

At this rate, how are they going to pay the tax payer back $16MM?

At least the executives were well paid.

Michael Sand      made $224K

Robert Drugge    made $174K

John Norawong  made $172K

Do you have money in this disaster?

Maybe Michael is putting his head in the sand

Guaranty Bank Springfield, Missouri

This is the CEO Shaun Burke he took $17MM in TAARP money

He makes $315k to make make $23MM in bad loans

The bank made $5k in FY10, at that rate how long will it take to pay back $17MM, how does eternity sound

Guaranty Bank Springfield, Missouri was founded in 1891.  The bank took $17MM in taxpayer funded bailout money which it has chosen not to return.

The company’s assets are$682MM with equity of $52MM.

The actual equity position is $35MM, the so called $17MM in preferred stock is actually debt owed to the tax payer.

They have $23MM in loans on non accrual.

Having $23MM in problem loans with only $35MM in equity is not good.

They are probably technically insolvent.

Why aren’t they on the problem bank list?

Net income was $5K in FY10 and ($3MM) in FY09, you think it might be tough to pay the tax payer back $17MM?

Don’t worry the executives are doing fine.

Shaun Burke    made $314K

Carter Porter  made $218K

Michael Mattison made $193K

Not bad for wiping this thing out.

At least on the website, they post their luxury expenditure policy.

I guess they don’t have the luxury of paying back the tax payer

Redding Bank of Commerce Redding, California

Patrick Boty took $17MM in TAARP money

He is smiling because he makes $437k, while making$53MM in bad loans

The bank made $5k in each of the last 2 years, how long will it take to pay back $17M? When is hell going to freeze over?

Redding Bank of Commerce Redding, California was founded in 1898.  The company has taken $17MM in tax payer bailout funds which has decide to not pay back.

The company has $939MM in assets with $101MM in equity.

The actual equity position is $84MM, as the $17MM in tax payer funds is debt not preferred stock.

The problem loan portfolio consists of $25MM in loans 30-90 days past due, with $28MM on non accrual.

That is $53MM in problem loans with only $84MM in equity.

The non accrual alone could wipe out 33% of the equity.

They had net income of $5MM each of the last 2 years, why not pay the tax payer back.

At least the executives were able to pay themselves.

Patrick Moty      made $437K

Linda Miles           made  $376K

Samuel Jimenez made $203K

Randall Eslick     made     $235K

How much was the tax payer paid, zero.

Community First Bank and Trust Columbia Tennesse

Here is the CEO Marc Lively, he took $17MM in TAARP funds

He made $298k last year

Mark made $151MM in problem loans with only only $39MM in equity

It didn’t take him long to bankrupt this place

They lost $10MM over the last 2 years

The balance sheet is not looking very lively

Good thing has time to play golf, at least he can’t make bad loans there

Community First Bank and Trust Columbia, Tennesse was founded in 1999.  They took $17MM in tax payer funded bailout money, which it won’t pay back.  I couldn’t find it on the problem bank list, but it ought to be.

The company has $678MM in assets with $56MM in supposed equity.

The equity position is actually $39MM, as the $17MM in bailout funds is not preferred stock but debt, which they won’t pay back.

The problem loan scenario is staggering.  They have $41MM in loans past due 30-90 days, get this, there are $110MM in loans on non accrual!

So, they have $151MM in bad loans and $39MM in equity.

This place is flat out bankrupt

Why hasn’t the government shut them down.  What, they think if they wait they will get the $17MM back?

Why aren’t they at least on the problem bank list, this place has problems.

This place is bankrupt.

How are they going to pay back the tax payer $17MM

Net income was ($4MM) in FY10 and ($6MM) in FY09.

So how are they going to pay the $17MM back?

At least the executives are suffering.  They get paid well for wiping this place out.

Mark Lively             made $298K

Diane Scroggins     made$125K

Michael Saporito   made $167K

Carl Cambell            made $177K

Mark Lively gets paid well to run this thing into the ground

That is good pay for causing this disaster.

East Carolina Bank Engelhard North Carolina Dwight Utz

This is Dwight Utz he took $17MM in bailout money

This is Thomas Crowder the CFO

Ask Thomas how he is going to pay you back the $17,000,000 he owes the tax payer

Thomas isn’t worried he makes $231,000 a year

The bank made $200k in FY10 and ($400M) in FY09, how the hell long will it take them to pay back $17MM

Dwight makes $311k, good pay for wiping out a 92 year old bank

This is the board the took $17,000,000 in tax payer money that they won’t pay back

East Carolina Bank Engelhard, North Carolina was founded in 1919.  The company took $17MM in tax payer funded bailout money, which it has decided not to repay.  It is not on the government problem bank list.  I guess not paying back the tax payer back, is not a problem.

The company has $919MM in assets with $80MM in equity.

The actual equity is $63MM as the $17MM in bailout money is debt not preferred stock, despite the fact that they won’t repay it.

There are $23MM in problem loans.  The non accrual alone could eradicate a large part of the equity position.

Net income was ($200K) in FY10 and $499K in FY09.

Based on this financial performance, how are they possibly going to pay back the tax payer’s $17MM?

Fortunately, the executives haven’t suffered or made any effort to pay back the tax payer.

Dwight Utz               made $311K

Thomas Crowder  made $231K

James Burson         made $204K

At least these boys are well taken care of.

They have made a good effort at wiping out a 92 year old institution.

Is this your bank?

Dwight Utz?

Dwight got paid all right, for running this place into the ground.

Dwight, when are you going to pay back the tax payer the $17MM you stole

Do you have money in this bank?

Next time you go into the branch, ask them when they are going to stop paying Dwight Utz for his incompetent management, and pay back your $17MM in tax payer money.

Ameriserv Financial Johnston, Pennsylvania

This Gary McKeown he took $21MM in bailout funds

He made $269k last year

Bank had net income of $121k in FY10 and ($6MM) in FY09, how are they going to pay back $21MM

Ameriserv Financial Johnston, Pennsylvania was founded in 1933.  The company took $21MM in tax payer bailout money, which it hasn’t repaid.

The company has $924MM in assets with $97MM in equity.

The equity position is actually $76MM as the $21MM in preferred stock is actually debt, not equity.

The company had net income of $121K in FY10 and ($6MM) in FY09.

At this rate, how long will it take them to repay the tax payer?

Though this bank makes no effort to repay the tax payer, the executive compensation was not hindered.

Glen Wilson           made $497K

Gary McKeown  made $269K

Jeffrey Stopko       made $204K

Gregory Young     made  $241K

The tax payer doesn’t get paid, however the executives got paid well.

Citzens South Bank Gastonia North Carolina

This is Kim Prince CEO, he took $20,000,000 in tax payer money which he won’t pay back

This Prince pays himself $303,000 a year

The Prince has $40,000,000 bad loans

Kim Prince took $20MM of the tax payers money, which he won’t pay back

Don’t worry, this prince pays himself $300K

That is why he is smiling, he takes $20MM and gets paid $300k as he bankrupts this place, this guy is a prince

Why  is this clown smiling? He took $20,000,000 of your money

This bank might have survived the Great Depression but it might not survive Kim the Prince

Citizens South Bank Gastonia, NC was founded in 1904.  The company took $20MM in tax payer funded bailout money, which it has decided to not return.

The company has $1B in assets with $91MM in equity.

The actual equity position is $71MM, as the $20MM in so called preferred stock is actually tax payer bailout funds, which is debt not equity.

The company has $40MM in problem loans.

This is your bank for life?, they have $40,000,000 in Sh$$it loans

The non accrual of $23MM could easily wipe out the equity position.

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

They had net income of $7MM in FY10, why wasn’t this money used to pay back the tax payer?

At least the executive compensation remains intact.

Kim Price        made $303K

Gary Hoskins  made $147K

Daniel Boy       made $187K

How come they haven’t made any payments on the $20MM they owe the taxpayer?

Florida Bank Tampa, Florida

Florida Bank Tampa, Florida was founded in1985.  The company took $20MM in tax payer funded bailout money, which it has neglected to pay back.  Then again, it hasn’t even made interest payments on these funds since 8/10.  For some reason, the company isn’t on the problem bank list. The Texas ratio is 86%.

The company has assets of $839MM with stated equity of $47MM.

Though the stated equity is $47MM, the $20MM is tax payer funded bailout money, which is actually debt not preferred stock.  The actual equity is $27MM.

The problem loan portfolio is immense.  They have $64MM in problem loans

So, they have $64MM in bad loans with $23MM in equity.

This bank is bankrupt.

Why haven’t they been closed down or at least put on the problem bank list?

This bank is also adept at losing money.  Net income was ($42MM) in FY10 and, ($15MM) in FY09.

They lost another in Q1 2011.

How are they  going to pay the tax payer the $20MM back? They can’t

At least the executives were taken care of.

Dale Reid             made   $280

Cindy Robbins made     $239K

That is good pay for destroying this company.

Grayson National Bank Independence, Virginia

Grayson National Bank Independence Virginia was founded in 1900.  The Texas ratio is 62%.

The company has assets of $367MM and equity of $29MM.

The problem loan situation is rather large, in relation to it’s equity position.  The company has $24MM in bad loans.

Having $24MM in bad loans and only $29MM in equity puts the equity situation at risk.

The non accrual portfolio alone could wipe this place out.

Jacky Anderson  made $201K

Dennis Gambill    made $155K

Blake Edward       made  $143K

United Security Bancshares Fresno, California

That is Dennis Woods on the right, he is the CEO

His bank is on the problem bank list

He makes $662k, which includes a country membership

How many chins is he sporting?

United Security  Bancshares Fresno, California was founded in 1987.  The company is on the problem bank list as it entered into a written agreement with the regulators, for essentially horrible commercial real estate lending.  The Texas ratio is 70%

The company has assets of $682MM with $66MM in equity.

The problem loan portfolio is significant.  There were $13MM loans that are 30-90 days past due and $42MM on non accrual.

The gives them $57MM in problem loans with only $66MM in equity.  The non accrual alone could destroy the equity position.

This bank is probably technically insolvent.

At least they executives didn’t suffer as they ran this place into the ground.

Dennis Woods                 made $662K

Ken Donahue                    made  $252K

Rhodlee Braa                   made   $211K

William Scarborough made $192K

Richard Shope                made $284

Dennis Woods also had $13K in club fees paid for.  All members had $14K in health insurance paid for.

Not bad pay for wiping this place out.

They may want to drop security from their name.

American Bank of the Nashwauk, MN

American bank of the North Nashwauk, MN was founded in 1928.  The company is not on the problem bank list, but it probably should be, the Texas ratio is 78%.

The company has assets of $645M with equity of $49MM.

The problem loan portfolio is profound.  The company has $64MM of loans that are 30-90 days past due, with a staggering $52MM on non accrual.

This results in a $116MM in bad loans with only $49MM in equity.

This bank is insolvent, the non accrual alone can eradicate the equity position.

Why is bank not closed down?

Then again, why isn’t it on the problem bank list?

Lee Bank and Trust Pennington Gap, Virginia

This guy would be good CEO

Lee Bank and Trust Pennington Gap, Virginia was founded in 1932.  This company is not on the problem bank list.  The Texas ratio is 50%.

The company has $176MM in loans with $19MM in equity.

They have $16MM in their problem loan portfolio.

This bank is technically insolvent.

TruPoint Bank Grundy Virginia

Check Barry he has one hand on his C$ck, the other is pointing to his $43,000,000 in bad loans

Barry is making a TruPoint he is F$$cked 

This is Barry he is on the problem bank list

Barry’s bank is f$$cked

This is the CEO Barry Elswick, his bank is on the problem bank list

Trupoint Bank Grundy, Virginia was founded in 1975.  The company is on the problem bank list.  The Texas ratio is 50%.

The company has assets of $493MM with equity of $43MM.

That fat slob on the right is Barry Elswick

 Did Barry tell this wench that his bank is on the problem bank list?

 Barry $$Elswick you have  $43,000,000 in problem loans

Barry that Vixon is lookng Grundy

The problem loan portfolio has $19MM in loans that are past due 30-90 days, while there are $24MM on non accrual.

That equates to $43MM in bad loans and $43MM in equity.

This place is bankrupt

They should be able to blow through this equity position pretty quickly.

This place is technically insolvent.

Would you put your money with this bald clown

  This guy looks Truely Grundy

Is this your bank?

Trupoint?  Try Trudisaster

Mohave State Bank Lake Havasu City, Arizona

This is RalphTapscott the CEO, the bank is on the problem bank list

Mohave State Bank Lake Havasu City, Arizona was founded in 1991.  The company is on the problem bank list as it entered into a consent agreement due to deficient commercial real estate lending.  The Texas ratio is phenomenal at 122%.  The stock has been delisted.

The company has assets of $302MM with equity of $25MM.

The problem loan list totals $28MM.

They have more problem loans than equity!

This bank is insolvent.

Vision Bank Panama City, Florida

Vision Bank Panama City, Florida was founded in 1926.  The company has a staggering Texas ratio of 101%.  For some reason the company is not on the problem bank list.

The company has assets of $809MM with equity of $126MM.

The problem loan situation is amazing.  They have $187MM in problem loans.

They had the vision to finance a lot (no pun intended) of vacant lots.

That equates to $187M bad loans with $126MM in equity.

This place is bankrupt.

The earnings are equally as impressive with net income of ($29MM) in FY10, ($30MM) in FY09 and ($81MM) in FY08.  They lost another $11MM pretax in Q1, stellar performance.

Take a look, they lost another $20MM in Q2 2011.

At least the executives were well paid.

Daniel DeLander   made  $1MM

David Trautman      made $689K

John Kozak               made $513K

It is a good thing they are not paid for performance!

So Daniel Deflander makes a $1MM to lose  $140MM , run up $224MM in bad loans and bankrupt an  85 year old company. This guy is legal.

David Tautman, fired

John Kozak

For some reason they don’t like to put the financial statements on the website, I guess when you are bankrupt, that is not a bad idea

Is this your bank?

They should be wiped out by year end.

This management team is incompetent

Vision Bank? The executives have the vision to take as much money as they can before they bankrupt this place.

CNL Bank Orlando, Florida

Check out the new site

capital2risk.com

This is C Michael Collins

C Michael’s bank is on the problem bank list for get this weakness in management

This idiot is sitting on $131,000,0000 in junk loans and he is smiling?

C Michael wiped this place out in record time

C Michael has a problem with loan quality and capital adequacy? SHOCKING

The C is short for criminal

C Michael lost $49,000,000 in only 2 years

Do you have money in this bankrupt place?

This is Timothy Little

Timothy is sitting on $131,000,000 in junk loans

This little man is looking a big f$$cking load of bad loans, not sure why this dope is smiling

CNL Bank Orlando, Florida was founded in 1997.  The company is on the problem bank list for among other things weak management, loan quality, capital and earnings.  The Texas ratio is 50%.

This is James Miller, this fat cat bankster doesn’t miss a meal

This is Weymon Snuggs can’t make that name up

CNL is short for Can Not Lend

The company has assets of $1.4B with equity of $123MM.

The problem loan portfolio is significant.  Loans of $22MM were 30-90 days past due, there were $11MM over 90 days past due and $47MM on non accrual.

The problem loan situation could effectively wipe out the equity position.

Here is Tom Lytton of CNL Bank he has time to make Sh$$t loans and play golf?

There are $131MM in junk loans with $115 in supposed equity.

This place is bankrupt

CNL, means can not lend.

The company has experienced significant losses with net income of ($26MM) in FY10 and ($23MM) in FY09.

C. Michael Collins bankrupted this place  in record time.

The regulators cited weakness in management, shocking C. Michael.

If you lost $49MM in 2 years, would you still a job?  C. Michael still does.

C. Michael did a stellar job at wiping out the investors, he should be incarcerated.

Take a look at the real estate for sale on the website, this crew likes to finance swampland in Florida.

This place is on life support.

Is this your bank?

Would you give your money to C. Michael ?

Northwest Georgia Bank Ringold, GA

This is Welsey Smith the CEO, in the middle, looking like a fat cat banker, that thing is all bought and paid for

His bank is on the problem bank list

Wesley did an admirable job running a 107 year old bank into the ground

Good thing he has time to sponsor a golf tournament, probably closing some more bad commercial real estate deals

Northwest Georgia Bank Ringold, GA was founded in 1904.  The company is on the problem loan list for problem commercial real estate issues.   The Texas ratio is 106%.

The company has assets of $556MM with equity of $32MM

The problem loan portfolio has $3MM in loans 30-90 days past due with $20MM on non accrual.

The non accrual loans alone could wipe out the equity position.

This place is probably technically insolvent.

Grand Bank West Palm Beach FLA

Grand Bank West Palm Beach Florida was founded in 1999. The company is on the problem bank list as it entered in to a consent agreement with the regulators for poor commercial real estate lending.  This is reflected in the Texas ratio of 98%.

The company has assets of $452MM and $26MM in equity.

The problem portfolio consists of $5MM in loans 30-90 days past due and $22MM on non accrual.

So, they have $27MM in problem loans with only $26MM in equity.

This bank is technically insolvent.

Grand is one thing this bank is not.

Grand is the level of problem loans.

Is this your bank?

First Trust Bank Charlotte, NC

First Trust Bank Charlotte, NC was founded in 1999.  The company has a Texas ratio of 82%.

The company has $445MM in assets and $13MM in equity.

The problem loan base is staggering in relation to equity.  They have $7MM in loans that are 30-90 days past due with $33MM on non accrual.

That is $40MM in bad loans with only $13MM in equity.

This bank is bankrupt.

Why aren’t they on the problem bank list?

First Trust how about Last Trust

Do you have money in this diaster?

Oxford Bank Oxford, MI

This is Jeff Davidson CEO

His bank is on the problem bank list

He probably shouldn’t be giving money away

Oxford Bank Oxford, MI was founded in 1889.  The company is on the problem bank list as it entered into a written agreement with the regulators.  They were cited for unsatisfactory lending and poor asset quality.  The Texas ratio is 135%.

The company assets of $285MM with equity of $8MM.

The bank has $5MM in loans that are 30-90 days past due with $9MM on non accrual.

The equates to $14MM in problem loans with only $8MM in equity.

This bank is insolvent.

Why has it not been closed?

Bank of Whitman Colfax, Washington

Bank of Whitman Colfax, Colfax Washington was founded in 1977.  The company is on the problem bank list as it entered in to a written agreement with the regulators.  The Texas ratio is a phenomenal 175%.

This place is bankrupt.  Check this out, they lost $25MM in Q2, this wiped out the remaining $24MM in equity.  The equity position is now ($319k).

Why isn’t this place closed down?

The company has $651MM in assets and $24MM in equity.

The problem loan portfolio is incredible with non accrual loans of $57MM.

They have $57MM in assets with only $24MM in equity.

This bank is insolvent.

Why is it not shut down?

They are on the list of under capitalized banks

The tier 1 risk bask capital level is 5.77% far below the 8% target.

This is one of the worst banks in the country.

Check out the website, they won’t even tell who runs this disaster

They won’t post the financial statements.

Fortunately, I gave them to you.

This thing is bankrupt.

Do you have money here?

Preferred Bank Los Angeles, CA

This Li Yu CEO ringing the closing bell

His bank is on the problem bank list

The bank lost $58MM in the last years

Don’t worry, he gets paid $1.5MM to bankrupt this place

 

Preferred Bank Los Angeles, CA was founded in 1991.  The company is on the problem bank list as it entered into a consent agreement with the regulators.  The Texas ratio is a phenomenal 175%.

The company has assets of $1.2B with a supposed $142MM in equity.

The problem loan portfolio is incredible.  They have $140MM in non accrual loans.

Having $140MM in non accrual with $142MM in equity.

This company is bankrupt.

Why hasn’t it been shut down?

Net income was ($15MM) in FY10 and ($43MM) in FY09.

Fortunately, the executives were not effected.

Li Yu                 made    $1.5MM

Robert Kosof made  $250K

Edward Czajka made $391K

That’s good money for wiping this place out.

Severn Bank Annapolis Maryland

This is Alan Hyatt, he took $23,000,000 in TAARP money

His bank is on the problem bank list

Alan makes $401,00 a year, to run this place into the ground

Alan is sitting on $45,000,000 in bad loans

How is this clown going to pay the tax payer back $23,000,000? He can’t!

Alan engages in unsafe and unsound banking practices

The efficiency ratio is like 87%, this clown loses money just opening up the door

Alan made $1,883,000 in FY2011, how the F$$ck long will it take this crock to pay back $23,000,000, sounds like eternity 

 

Severn Bank Annapolis, MD was founded in 1949.  The company took $23MM in tax payer funded bailout money, which it has neglected to pay back.  The company is on the problem bank list as it entered into a supervisory agreement with the FDIC for unsound and unsafe banking practices.  The Texas ratio is 41%.

The company has assets of $958MM and stated equity of $106MM.

The actual equity is $83MM, as the $23MM in tax payer funded bailout money is debt not equity.

The problem loan portfolio is impressive.  They have $43MM in loans that are 30-90 days past due, with $34MM on non accrual and $24MM in foreclosure.

So they have $77MM in bad debt with only $83MM in equity.

Living off the fat of the tax payer

If they went mark to market on this portfolio, they would be insolvent.

Net income was ($563K) in FY10 and ($16MM) in FY09.

At this rate, how are they going to pay back the tax payer. They probably can’t.

Fortunately, the  executive compensation was effected.

Alan Hyatt                made  $401K

Thomas Bevivano  made $251K

Philip Jones               made $239K

How is the tax payer getting paid back?

Liberty Savings Bank Maple Grove, MN

Liberty Savings Bank Maple Grove, MN was founded in 1972.  The company has a phenomenal Texas ratio of 72%.

The company has assets of $1.1B with equity of $91MM.

The problem loan situation could be a huge problem for the limited equity base.  There are $4MM in loans 30-90 days past due with $59MM on non accrual and $14MM in foreclosure.

That  is$63MM in bad loans with just $91MM.

The bank is probably insolvent.

Why are they not closed.

Then again, why are they not on the problem bank list.

The management team was able to lose $45MM in FY10, as they wiped out 35% of the equity.

Inter Savings Bank Maple Grove, MN

Fred Stelter wiped this bank

This joker is sitting on $40,000,000 in junk loans with only $11,000,000 in equity

Fred should be in jail

Is FR$$D holding your money?

This is one of the worst banks in the state

Better Fred than DEAD

Inter Savings Bank Maple Grove, MN was founded in 1965.  They are on the problem bank and entered into a cease and desist order with the regulators.  With a Texas ratio of 174%, they more than a problem.

The company has $603MM in assets and only $13MM in equity.

The problem loan situation is interesting.  They have $13MM in loans 30-90 days past due, with $23MM on non accrual.

Hold on, that is $36MM in bad loans with only $13MM in equity.

Can you spell insolvent?

This place should be closed.

The management team wiped out 277% of the equity in the last 3 years!

They have gotten to post their financial statements of the website since 2009. Maybe if they don’t publish the financial information, the customers won’t know how bad this place is.

Park View Federal Savings Bank Solon, Ohio

Take a look at the new site

capital2risk.com

The efficiency ratio is 100% Robert King loses money just opening up the bank

Robert King made $730,000 in 2011

That is good pay for being on the problem bank list, for aiding and abetting unsafe banking practices

Unprotected commercial lending practices?

Park View Federal Savings Bank Solon, Ohio has become an honorable member of the problem bank list.  They entered into a cease and desist order with the regulators.  They were cited for aiding and abetting unsafe banking practices.  They were performing unprotected commercial real estate lending. That might be a reason the Texas ratio is 78%.

The company has assets of $890MM with equity of  $74MM.

Take a look at the problem loan situation.  They have $13MM in loans 30-90 days past due, $52MM in loans on non accrual coupled with $43MM in forecloses!

So they have $65MM in bad loans with only $74MM in equity.

This place is bankrupt

How come they haven’t been shut down?

Well, the executives got paid well to destroy this company.

Robert King    made $731K

Marty Adams made $119K

Jeffrey Male made  $164K

Robert is the King of making bad loans.

Anyone looking for foreclosed real estate in Ohio?

Robert is the King, how far does $731k go in Solon Ohio for bankrupting  a bank.

As Robert King says “why rob a bank when you can own one”

Do you have money in this disaster?

It looks like that gut is bought and paid for

Park View Federal Savings Bank
Order to Cease and Desist
Page 1 of 14
UNITED STATES OF AMERICA
Before the
OFFICE OF THRIFT SUPERVISION
)
In the Matter of ) Order No.: CN 09-34
)
)
PARK VIEW FEDERAL ) Effective Date: October 19, 2009
SAVINGS BANK )
)
Solon, Ohio )
OTS Docket No. 01195 ) )
ORDER TO CEASE AND DESIST
WHEREAS, Park View Federal Savings Bank, Solon, Ohio, OTS Docket No. 01195 (Association), by and through its Board of Directors (Board), has executed a Stipulation and Consent to Issuance of an Order to Cease and Desist (Stipulation); and
WHEREAS, the Association, by executing the Stipulation, has consented and agreed to the issuance of this Order to Cease and Desist (Order) by the Office of Thrift Supervision (OTS) pursuant to 12 U.S.C. § 1818(b); and
WHEREAS, pursuant to delegated authority, the OTS Regional Director for the Central Region (Regional Director) is authorized to issue Orders to Cease and Desist where a savings association has consented to the issuance of an order.
NOW, THEREFORE, IT IS ORDERED that:
Cease and Desist.
1. The Association and its directors, officers, and employees shall cease and desist from any action (alone or with others) for or toward, causing, bringing about, participating in, counseling,
Park View Federal Savings Bank
Order to Cease and Desist
Page 2 of 14r
o aiding and abetting all unsafe or unsound practices that resulted in the Association operating with an excessive level of adversely classified assets; an inadequate allowance for loan and lease losses (ALLL) for the volume, type, and quality of loans held; and an inadequate level of capital protection for the volume, type, and quality of assets held by the Association.
Capital.
2. (a) By December 31, 2009, the Association shall meet and maintain: (i) a Tier 1 (Core) Capital Ratio of at least eight percent (8%) and (ii) a Total Risk-Based Capital Ratio of at least twelve percent (12%) after the funding of an adequate ALLL.
(b) The requirement in Subparagraph (a) above to meet and maintain a specific capital level means that the Association may not be deemed to be “well-capitalized” for purposes of 12 U.S.C. § 1831o and 12 C.F.R. Part 565, pursuant to 12 C.F.R. § 565.4(b) (1) (iv).
3. (a) By October 31, 2009, the Board shall adopt and submit to the Regional Director for review and comment a written plan to achieve and maintain the Association’s capital levels prescribed in Paragraph 2 of this Order (Capital Plan). The Capital Plan shall cover the period beginning with the quarter ending September 31, 2009 through the quarter ending December 31, 2011. At a minimum, the Capital Plan shall:
(i) address the requirements and restrictions imposed by this Order;
(ii) detail capital enhancement strategies with specific narrative goals, which shall result in new equity and a capital infusion;
(iii) consider and address the amount of additional capital that would be necessary to meet the capital requirements of Paragraph 2 of this Order
Park View Federal Savings Bank
Order to Cease and Desist
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under different forward-looking scenarios involving progressively stressed economic environments;
(iv) identify the specific sources of additional capital;
(v) detail timeframes by which the additional capital will be raised and provide specific target month-end capital levels; and
(vi) provide for alternative methods to strengthen capital, should the primary sources identified under Paragraph 3(a)(iv) of this Order not be available.
(b) Within thirty (30) days after receiving any written comments from the Regional Director, the Board shall revise and adopt the Capital Plan based on such comments. The Board shall ensure that the Association implements and adheres to the Capital Plan. A copy of the Capital Plan shall be provided to the Regional Director within five (5) days after the Board meeting.
(c) Once the Capital Plan is implemented, the Association shall operate within the parameters of its Capital Plan. Any proposed material deviations from or changes to the Capital Plan must be submitted for the prior, written non-objection of the Regional Director. Requests for any material deviations or changes must be submitted at least sixty (60) days before a proposed change is implemented.
(d) The Association shall notify the Regional Director regarding any material event affecting or that may affect the capital or capital projections of the Association within five (5) days after such event.
4. (a) On a monthly basis, beginning with the month ending December 31, 2009, the Board shall review by the last day of each month, a written report that compares projected operating results contained within the Capital Plan to actual results for the
Park View Federal Savings Bank
Order to Cease and Desist
Page 4 of 14
previous month (Capital Plan Variance Report). The Board’s review of the Capital Plan Variance Report and assessment of the Association’s compliance with the Capital Plan shall be fully documented in the appropriate Board meeting minutes.
(b) On a monthly basis, beginning with December 31, 2009, the Board shall provide to the Regional Director, by the 30th day of each succeeding month, a copy of the Capital Plan Variance Report.
5. Within fifteen (15) days after: (a) the Association fails to meet the capital requirements prescribed in Paragraph 2 beginning December 31, 2009; (b) the Association fails to comply with the Capital Plan prescribed in Paragraph 3; or (c) any written request from the Regional Director, the Board shall prepare and submit a written Contingency Plan that is acceptable to the Regional Director. The Contingency Plan shall detail the actions to be taken, with specific time frames, to achieve one of the following results by the later of the date of receipt of all required regulatory approvals or sixty (60) days after the implementation of the Contingency Plan: (i) merger with, or acquisition by another federally insured depository institution or holding company thereof; or (ii) voluntary liquidation by filing an appropriate application with OTS in conformity with federal laws and regulations.
6. Upon receipt of written notification from the Regional Director, the Association shall implement the Contingency Plan immediately. The Board shall provide the Regional Director with written status reports detailing the Association’s progress in implementing the Contingency Plan by no later than the 1st and 15th of each calendar month following implementation of the Contingency Plan (Contingency Status Reports).
Park View Federal Savings Bank
Order to Cease and Desist
Page 5 of 14
Liquidity.
7. (a) Within sixty (60) days, the Board shall adopt revisions to the Association’s Liquidity Policy, which, at a minimum, shall include:
(i) separate ratios and target limits for on-balance sheet liquid assets;
(ii) an increase in the Association’s minimum liquidity ratio;
(iii)
management of liquidity in accordance with OTS Thrift Bulletin 77 and OTS Examination Handbook § 530;
(iv)
periodic stress testing of the availability of all funding sources under specific scenarios and various market conditions;
(v) compliance with Paragraph 16 of this Order regarding the restrictions on brokered deposits, including, but not limited to the monitoring of interest rates paid on deposits for compliance with 12 C.F.R. § 337.6; and
(vi) Board oversight of the Association’s liquidity needs and available sources of liquidity, including a requirement that the Regional Director be notified immediately of any event that would limit the Association’s funding sources or available liquidity amounts.
(b) The Association shall provide a copy of the Liquidity Policy to the Regional Director within five (5) days of Board approval.
Asset Quality.
8. (a) Within forty-five (45) days, the Board shall adopt a schedule of quarterly reduction targets which: (i) reduces the level of adversely classified assets at the Association to no more than 50% of core capital plus ALLL by December 31, 2010; and (ii) reduces the level of adversely classified assets and assets designated as special
Park View Federal Savings Bank
Order to Cease and Desist
Page 6 of 14
mention at the Association (Criticized Assets) to no more than sixty-five percent (65 %) of core capital plus ALLL by December 31, 2010. The Board shall send a copy of the reduction targets implemented by the Board to the Regional Director within seven (7) days of Board approval.
(b) On a quarterly basis, beginning with the quarter ending December 31, 2009, the Board shall review a written report comparing the projected reduction targets to actual results (Problem Assets Variance Report). If the Board determines that a material deviation exists between a quarterly reduction target and actual results, it shall approve a Board resolution directing specific remediation steps to achieve compliance with the reduction targets by the following quarter. The Board’s review of the quarterly Problem Assets Variance Report shall be fully documented in the Board minutes.
(c) Within sixty (60) days of the close of each quarter, the Board shall provide the Regional Director with a copy of the Problem Assets Variance Report.
9. Within thirty (30) days, the Board shall revise the Association’s ALLL methodologies and policies taking into account the methodology revisions contained in the Matters Requiring Board Attention section of the OTS Report of Examination dated May 4, 2009.
Business Plan.
10. (a) Within sixty (60) days, the Board shall adopt and submit to the Regional Director for review and comment a comprehensive business plan for the period beginning with the quarter ending September 30, 2009 through the quarter ending December 31, 2011 (Business Plan). At a minimum, the Business Plan shall include the requirements contained within this Order and shall include:
(i) well supported and realistic strategies to achieve consistent profitability by
Park View Federal Savings Bank
Order to Cease and Desist
Page 7 of 14
September 30, 2010;
(ii) the maintenance of capital levels required by Paragraph 2 of this Order;
(iii) the Liquidity Policy revisions provided for in Paragraph 7 of this Order;
(iv) strategies to stress-test and adjust earnings forecasts based on continuing operating results, economic conditions and credit quality of the loan portfolio; and
(vi) quarterly pro forma balance sheets and income statements for the period beginning with the quarter ending September 30, 2009 through the quarter ending December 31, 2011.
(b) The Business Plan shall include all assumptions used in the pro formas, such as: (i) the assumed interest rate scenarios; (ii) assumptions used for noninterest income and noninterest expense; (iii) assumptions used to determine the ALLL; (iv) assumptions for loan origination rates, using recent experience and taking into consideration current national and regional economic conditions; and (v) assumptions supporting the cost of funds projections.
(c) Within thirty (30) days after receiving the Regional Director’s written comments, the Board shall revise and adopt the Business Plan based on such comments. Thereafter, the Association shall implement and comply with the Business Plan. Within five (5) days of Board approval of the Business Plan, the Association shall provide a copy of the adopted Business Plan to the Regional Director.
(d) Once the Business Plan is implemented, the Association shall operate within the parameters of its Business Plan. Any proposed material deviations from or changes to the Business Plan must be submitted for the prior, written non-objection of the Regional
Park View Federal Savings Bank
Order to Cease and Desist
Page 8 of 14
Director. Requests for any material deviations or changes must be submitted at least sixty (60) days before a proposed change is implemented.
(e) The Association shall notify the Regional Director regarding any material event affecting or that may affect the balance sheet, capital, or the cash flow of the Association within five (5) business days after such event.
11. (a) On a quarterly basis, beginning with the quarter ending December 31, 2009, the Association shall prepare and submit to the Board a report that compares projected operating results contained within the Business Plan to actual results (Business Plan Variance Report). The Board shall review each Business Plan Variance Report and address external and internal risks that may affect the Association’s ability to successfully implement the Business Plan. This review shall include, but not be limited to, adverse scenarios relating to asset or liability mixes, interest rates, staffing levels and expertise, operating expenses, marketing costs, and economic conditions in the markets in which the Association is operating. The Board shall discuss and approve corrective actions, if needed, to ensure the Association’s adherence to its Business Plan. The Board’s review of the Business Plan Variance Report and assessment of the Association’s compliance with the Business Plan shall be fully documented in the appropriate Board meeting minutes.
(b) Within sixty (60) days after the close of each quarter beginning with the quarter ending December 31, 2009, the Board shall provide the Regional Director with a copy of each Business Plan Variance Report.
Park View Federal Savings Bank
Order to Cease and Desist
Page 9 of 14
Compliance Committee and Progress Reports.
12. Within thirty (30) days, the Board shall appoint a committee of three (3) or more directors to monitor and coordinate the Association’s compliance with the Order (Compliance Committee). The Compliance Committee may be an existing Board Committee that meets the criteria of this provision. The Committee shall be comprised of independent1 directors.
13. Within forty-five (45) days of the end of each quarter, beginning with the quarter ending December 31, 2009, the Compliance Committee shall provide a written progress report to the Board, describing the actions taken by the Association to comply with each provision of this Order and the results of those actions. The Board’s consideration of the Compliance Committee’s progress report for the period, including comments and questions concerning the progress report and additional actions taken or directed by the Board, shall be reflected in the minutes of the Board’s meetings.
14. Within sixty (60) days of the end of each quarter beginning with the quarter ending December 31, 2009, a copy of the progress report for the period with any revisions or comments by the Board shall be provided to the Regional Director.
Growth.
15. Effective immediately, the Association is subject to and shall comply with the requirements and provisions of OTS Regulatory Bulletin 3b. Without the prior written approval of the Regional Director, the Association shall not increase its total assets during any quarter beginning with the quarter ending December 31, 2009 in excess of an amount equal to net
1 For this purpose the term “independent” means that the director is not: (1) a current or former officer or employee of the Association or of an affiliate or service provider of the Association; (2) a member of the immediate family (defined in 12 C.F.R. § 561.24) of a director, officer or employee of the Association or its affiliates; (3) a controlling person of the Association as defined in 12 C.F.R. § 561.14; (4) a borrower or obligor on any outstanding extension of credit from the Association except for loans secured by a lien on the borrower’s primary residence, and (5) and has not served as a consultant, advisor, underwriter, or legal counsel to the Association or its affiliates.
Park View Federal Savings Bank
Order to Cease and Desist
Page 10 of 14
interest credited on deposit liabilities during the quarter. The growth restrictions imposed by this Paragraph shall remain in effect until the Regional Director reviews and approves the Association’s Business Plan as required under Paragraph 10 of this Order. Any growth in assets, including any growth proposed in the Business Plan, should consider:
(a)
the source, volatility and use of the funds that support asset growth;
(b)
any increase in credit risk or interest rate risk as a result of growth; and
(c)
the effect of such growth on the Association’s capital.
Brokered Deposits and Interest Rate Restriction.
16. Effective immediately, the Association shall comply with the requirements of 12 C.F.R. § 337.6(b) and shall not, without obtaining the prior written waiver of the Federal Deposit Insurance Corporation (FDIC) pursuant to 12 C.F.R. § 337.6(c): (a) accept, renew or roll over any brokered deposit, as that term is defined at 12 C.F.R. § 337.6(a)(2); or (b) act as a deposit broker, as that term is defined at 12 C.F.R. § 337.6(a)(5).
Dividends.
17. Effective immediately, the Board shall not declare or pay dividends or make any other capital distributions, as that term is defined in 12 C.F.R. § 563.141, without receiving the prior written approval of the Regional Director. The Association’s written request for written approval should be submitted to the Regional Director at least sixty (60) days prior to the anticipated date of the proposed dividend or distribution of capital.
Park View Federal Savings Bank
Order to Cease and Desist
Page 11 of 14
Severance and Indemnification Payments.
18. Effective immediately, the Association shall not make any golden parachute payment2 or any prohibited indemnification payment3 unless, with respect to each such payment, the Association has complied with the requirements of 12 C.F.R. Part 359 and, as to indemnification payments, 12 C.F.R. § 545.121.
Directorate and Management Changes.
19. Effective immediately, the Association shall comply with the prior notification requirements for changes in directors and Senior Executive Officers4 set forth in 12 C.F.R. Part 563, Subpart H.
Employment Contracts and Compensation Arrangements.
20. (a) Effective immediately, the Association shall not enter into, renew, extend, or revise any contractual arrangement relating to compensation or benefits for any Senior Executive Officer or director of the Association, unless it first provides the Regional Director with not less than thirty (30) days prior written notice of the proposed transaction. The notice to the Regional Director shall include a copy of the proposed employment contract or compensation arrangement or a detailed, written description of the compensation arrangement to be offered to such officer or director, including all benefits and perquisites. The Board shall ensure that any contract, agreement, or arrangement submitted to the Regional Director fully complies with the requirements of 12 C.F.R. Part 359, 12 C.F.R. §§ 563.39 and 563.161(b), and 12 C.F.R. Part 570 – Appendix A.
2 The term “golden parachute payment” is defined at 12 CFR § 359.1(f).
3 The term “prohibited indemnification payment” is defined at 12 CFR § 359.1(l).
4 The term “Senior Executive Officer” is defined at 12 C.F.R. § 563.555.
Park View Federal Savings Bank
Order to Cease and Desist
Page 12 of 14
(b) Effective immediately, the Association shall not increase any salaries, bonuses, or director’s fees or make any other similar payments, directly or indirectly, to the Association’s directors or Senior Executive Officers without prior written non-objection from the Regional Director.
Third Party Contracts.
21. Effective immediately, the Association shall not enter into any arrangement or contract with a third party service provider that is significant to the overall operation or financial condition of the Association5 or outside the Association’s normal course of business unless, with respect to each such contract, the Association has: (a) provided the Regional Director with a minimum of thirty (30) days prior written notice of such arrangement or contract; (b) determined that the arrangement or contract complies with the standards and guidelines set forth in OTS Thrift Bulletin 82a; and (c) received written notice of non-objection from the Regional Director.
Transactions with Affiliates.
22. Effective immediately, the Association shall not engage in any transaction with an affiliate unless, with respect to each such transaction, the Association has complied with the notice requirements set forth in 12 C.F.R. § 563.41(c)(4), which shall include the information set forth in 12 C.F.R. § 563.41(c)(3). The Board shall ensure that all transactions with an affiliate for which a notice is submitted pursuant to this Paragraph of the Order shall comply with the requirements of 12 C.F.R. § 563.41 and 12 C.F.R. Part 223.
Effective Date, Incorporation of Stipulation.
23. This Order is effective on the Effective Date as shown on the first page. The Stipulation is made a part hereof and is incorporated herein by this reference.
5 A contract will be considered significant to the overall operation or financial condition of the Association where the annual contract amount equals or exceeds two percent (2%) of the Association’s total capital.
Park View Federal Savings Bank
Order to Cease and Desist
Page 13 of 14
Duration.
24. This Order shall remain in effect until terminated, modified, or suspended, by written notice of such action by the OTS, acting by and through its authorized representatives.
Time Calculations.
25. Calculation of time limitations for compliance with the terms of this Order run from the Effective Date and shall be based on calendar days, unless otherwise noted.
26. The Regional Director may extend any of the deadlines set forth in the provisions of this Order upon written request by the Association that includes reasons in support for any such extension. Any OTS extension shall be made in writing.
Submissions and Notices.
27. All submissions, including any reports, to the OTS that are required by or contemplated by this Order shall be submitted within the specified timeframes.
28. Except as otherwise provided herein, all submissions, requests, communications, consents, or other documents relating to this Order shall be in writing and sent by first class U.S. mail (or by reputable overnight carrier, electronic facsimile transmission, or hand delivery by messenger) addressed as follows:
(a) To the OTS:
Regional Director
Office of Thrift Supervision
One South Wacker Drive, Suite 2000
Chicago, Illinois 60606
Facsimile: (312) 917-5001
Park View Federal Savings Bank
Order to Cease and Desist
Page 14 of 14
(b) To the Association:
Chairman of the Board
Park View Federal Savings Bank
30000 Aurora Road
Solon, Ohio 44139-2728
Facsimile: (440) 914-3916
No Violations Authorized.
29. Nothing in this Order or the Stipulation shall be construed as allowing the Association, its
Board, officers, or employees to violate any law, rule, or regulation.
IT IS SO ORDERED.
OFFICE OF THRIFT SUPERVISION
By: /s/
Daniel T. McKee
Regional Director, Central Region
Date: See Effective Date on page 1
UNITED STATES OF AMERICA
Before the
OFFICE OF THRIFT SUPERVISION
)
In the Matter of ) Order No.: CN 09-34
)
)
PARK VIEW FEDERAL ) Effective Date: October 19, 2009
SAVINGS BANK )
)
Solon, Ohio )
OTS Docket No. 01195 ) )
STIPULATION AND CONSENT TO ISSUANCE OF ORDER TO CEASE AND DESIST
WHEREAS, the Office of Thrift Supervision (OTS), acting by and through its Regional Director for the Central Region (Regional Director), and based upon information derived from the exercise of its regulatory and supervisory responsibilities, has informed Park View Federal Savings Bank, Solon, Ohio, OTS Docket No. 01195 (Association), that the OTS is of the opinion that grounds exist to initiate an administrative proceeding against the Association pursuant to 12 U.S.C. § 1818(b);
WHEREAS, the Regional Director, pursuant to delegated authority, is authorized to issue Orders to Cease and Desist where a savings association has consented to the issuance of an order; and
WHEREAS, the Association desires to cooperate with the OTS to avoid the time and expense of such administrative cease and desist proceeding by entering into this Stipulation and Consent to the Issuance of Order to Cease and Desist (Stipulation) and, without admitting or denying that such grounds exist, but only admitting the statements and conclusions in Paragraphs 1 and 2 below concerning Jurisdiction, hereby stipulates and agrees to the following terms:
Park View Federal Savings Bank
Stipulation and Consent to Issuance of Order to Cease and Desist
Page 1 of 6
Jurisdiction.
1. The Association is a “savings association” within the meaning of 12 U.S.C. § 1813(b) and 12 U.S.C. § 1462(4). Accordingly, the Association is “an insured depository institution” as that term is defined in 12 U.S.C. § 1813(c).
2. Pursuant to 12 U.S.C. § 1813(q), the Director of OTS is the “appropriate Federal banking agency” with jurisdiction to maintain an administrative enforcement proceeding against a savings association. Therefore, the Association is subject to the authority of the OTS to initiate and maintain an administrative cease and desist proceeding against it pursuant to 12 U.S.C. § 1818(b).
OTS Findings of Fact.
3. Based on its May 4, 2009 examination of the Association, the OTS finds that the Association has engaged in unsafe or unsound banking practices that resulted in operating the Association with an excessive level of adversely classified assets; an inadequate allowance for loan and lease losses (ALLL) for the volume, type, and quality of loans held; and an inadequate level of capital protection for the volume, type, and quality of assets held by the Association.
Consent.
4. The Association consents to the issuance by the OTS of the accompanying Order to Cease and Desist (Order). The Association further agrees to comply with the terms of the Order upon the Effective Date of the Order and stipulates that the Order complies with all requirements of law.
Finality.
5. The Order is issued by the OTS under 12 U.S.C. § 1818(b). Upon the Effective Date, the Order shall be a final order, effective, and fully enforceable by the OTS under the provisions of 12 U.S.C. § 1818(i).
Park View Federal Savings Bank
Stipulation and Consent to Issuance of Order to Cease and Desist
Page 2 of 6
Waivers.
6. The Association waives the following:
(a) the right to be served with a written notice of the OTS’s charges against it as provided by 12 U.S.C. § 1818(b) and 12 C.F.R. Part 509;
(b) the right to an administrative hearing of the OTS’s charges as provided by 12 U.S.C. § 1818(b) and 12 C.F.R. Part 509;
(c) the right to seek judicial review of the Order, including, without limitation, any such right provided by 12 U.S.C. § 1818(h), or otherwise to challenge the validity of the Order; and
(d) any and all claims against the OTS, including its employees and agents, and any other governmental entity for the award of fees, costs, or expenses related to this OTS enforcement matter and/or the Order, whether arising under common law, federal statutes, or otherwise.
OTS Authority Not Affected.
7. Nothing in this Stipulation or accompanying Order shall inhibit, estop, bar, or otherwise prevent the OTS from taking any other action affecting the Association if at any time the OTS deems it appropriate to do so to fulfill the responsibilities placed upon the OTS by law.
Other Governmental Actions Not Affected.
8. The Association acknowledges and agrees that its consent to the issuance of the Order is solely for the purpose of resolving the matters addressed herein, consistent with Paragraph 7 above, and does not otherwise release, discharge, compromise, settle, dismiss, resolve, or in any way affect any actions, charges against, or liability of the Association that arise pursuant to this action or otherwise, and that may be or have been brought by any governmental entity other than the OTS.
Park View Federal Savings Bank
Stipulation and Consent to Issuance of Order to Cease and Desist
Page 3 of 6
Miscellaneous.
9. The laws of the United States of America shall govern the construction and validity of this Stipulation and of the Order.
10 If any provision of this Stipulation and/or the Order is ruled to be invalid, illegal, or unenforceable by the decision of any Court of competent jurisdiction, the validity, legality, and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby, unless the Regional Director in his or her sole discretion determines otherwise.
11. All references to the OTS in this Stipulation and the Order shall also mean any of the OTS’s predecessors, successors, and assigns.
12. The section and paragraph headings in this Stipulation and the Order are for convenience only and shall not affect the interpretation of this Stipulation or the Order.
13. The terms of this Stipulation and of the Order represent the final agreement of the parties with respect to the subject matters thereof, and constitute the sole agreement of the parties with respect to such subject matters.
14. The Stipulation and Order shall remain in effect until terminated, modified, or suspended in writing by the OTS, acting through its Regional Director.
Signature of Directors/Board Resolution.
15. Each Director signing this Stipulation attests that he or she voted in favor of a Board Resolution authorizing the consent of the Association to the issuance of the Order and the execution of the Stipulation. This Stipulation may be executed in counterparts by the directors after approval of execution of the Stipulation at a duly called board meeting.
Park View Federal Savings Bank
Stipulation and Consent to Issuance of Order to Cease and Desist
Page 4 of 6
WHEREFORE, the Association, by its directors, executes this Stipulation.
Accepted by:
PARK VIEW FEDERAL SAVINGS BANK OFFICE OF THRIFT SUPERVISION
Solon, Ohio
By: /s/ By:_ /s/
Mark D. Grossi, Chairman Daniel T. McKee
Regional Director, Central Region /s/ Date: See Effective Date on page 1
Marty E. Adams, Director /s/
Steven A. Calabrese, Director /s/
Umberto P. Fedeli, Director /s/
Robert K. Healey, Director /s/
Ronald D. Holman, II, Director /s/
Stanley T. Jaros, Director /s/
Robert J. King, Jr., Director
Park View Federal Savings Bank
Stipulation and Consent to Issuance of Order to Cease and Desist
Page 5 of 6
Park View Federal Savings Bank
Stipulation and Consent to Issuance of Order to Cease and Desist
Page 6 of 6
/s/
John R. Male, Director /s/
Raymond J. Negrelli, Director /s/
Stuart D. Neidus, Director /s/
C. Keith Swaney, Director

Liberty Savings Bank Wilmington, Ohio

Liberty Savings Bank Wilmington, Ohio was recently placed on the problem bank list, as it entered in a cease and desist agreement with the regulators.  Get this, the management team was cited for aiding and abetting unsafe banking practices.  If look at the problem loan situation, they were abetting on commercial real estate. The Texas ratio is 78%.

The company has $948MM in assets and $71MM in equity

The problem loan list is impressive.  They have $11MM in loans 30-90 days past due , $40MM on non accrual and $20MM in foreclosures!

Wow, that is $51MM in bad debt with only $71MM in equity.

This place is looking bankrupt.

They are pretty good at losing money with net income of ($11MM) in FY10, ($25MM) in FY09 and ($14MM).  Income is the operative word.

This crack management team was able to wipe out 77% of the equity in 3 years.

Check out the website, they don’t even tell you who the management team is, do you think they are trying to  hide something?

Well, if you lost $50MM in the last 3 years you might want to keep a low profile.

They forgot to post the financial statements, I guess that they are not at liberty to tell.  Luckily, I have them.

Is this you bank?

You might want to change banks, this place is a disaster.

Give me liberty or give me bankruptcy.

Who is the management team?

Who is the CEO of this thing?

I wouldn’t trust a place that won’t tell you that

Mountain Bank West of Helena Montana

This is Rich Hart the CEO

Rich’s bank is on the problem bank list for incompetent commercial real estate lending

He also wiped out the stockholders as the stock is de listed

This clown has it figured out, he says they might have over built, you think?

He does have scenic vacant land

Mountain Bank West of Helena Montana was founded in 1994.  The company is on the problem bank list, as it has entered into a consent agreement with the OCC for incompetent commercial real estate lending.  The Texas ratio is off the charts at 85%.  The stock is delisted, surprising.

The company has assets of $708MM with $68MM in supposed equity.

The problem loan situation is a disaster.  They have $85MM in loans on non accrual.

So they $85MM in bad loans and $68MM in equity.

This thing is bankrupt.

Why hasn’t this bank been closed down?

The one thing they do have is a lot of scenic vacant land.

How come they don’t publish financial statements? It takes a long time to finance vacant land.

They don’t even tell you who the management team is for this train wreck.

Do you have money in this bank?

Mountain First Bank and Trust Hendersonville, NC

Take a  look at the new site

capital2risk.com

This disaster lost $20,422,000 in Q4 2012, wiping out 106% of the remaining equity, this place is history

This is Michael Mayer his bank is on the problem bank list

Michael ran this bank into the ground

 Michael makes $422,000 a year

Michael is sitting on $49,000,000 in junk loans

Michael your Texas ratio is F$$ing 85% you are screwed

This joker lost 68% of the equity in only 3 years,

Michael should be in jail

Michael how about posting your financial statements 

Would you Bank or Trust with this bold Bankster? 

Michael your bank is on the under captilized bank list

Michael how the F$$ are you going to $$

Do you have Money in Michael’s abortion?

Mountain First Bank & Trust Hendersonville, NC was founded in 2004.  The Texas ratio is an astonishing 85%, why isn’t this place on the problem bank list?

The company has $725MM in assets with $38MM in equity.

The problem loan portfolio is out of control. They have $49MM in loans that are on non accrual!

The bank has equity of $38MM, with $49MM loans on non accrual.

This place is bankrupt.

Why hasn’t the government shut them down?

Why aren’t they at least on the problem bank list?

The management team was effective in wiping out 68% of the equity.

Do you want to get fucked by this guy? Most  N. Koreans already have

It might be less invasive than getting fucked by Michael Mayer! Michael will stick it up your ass if you are not sitting down

At least the executives were paid well for running this thing into the ground.

Michael Mayer   made $422K

Vincent Ress      made $172K

Peggy Denny      made $147K

That is good pay for taking this thing down in just 6 years.

Michael Mayer gets paid $422k to wipe out 68% of the equity, that is a good gig. Imagine what he would pay himself if he increased the equity position.

Michael Mayer makes more than the whole bank does, go figure.

They somehow forgot to post the financial statements on the website since 2010, shocking!  There hasn’t been a press release in a year, here is a press release, this place is losing serious money

Do you have money is this bank?

The first thing I would do is jump off the mountain.

They might want to change the name, bank and trust are not the operative words for this place.

Home Savings and Loan Youngstown, Ohio

Take a look at the new site

capital2risk.com

This Douglas McKay the CEO

He gets $408k to bankrupt a 122 year old bank

Douglas lost $89MM for this bank over the last 3 years

Douglas runs the worst bank in Ohio

Home Savings and Loan Youngstown, Ohio was founded in 1889.  The company’s Texas ratio is a phenomenal at 78%.  The question is why are they not on the problem bank list.

This is Doug McKay, this A$$hole lost $89,000,000 in only 3 years

This idiot destroyed a 122 year bank
They pay this clown $408,000 a year to bankrupt this disaster 

Doug is sitting on $171,000,000 in junk loans

Doug you got a shit load of vacant land for sale

Doug your loan portfolio is a debacle

They have assets of $2.2B and equity of $184MM.

The problem loan portfolio is immense.  They have $25MM in loans 30-90 days past due, take a look at the non accruals, they are $167MM.

They have non accruals almost equal to the equity position.

This bank is insolvent.

This is James Reske, the CFO he makes $274,000

James lost $89,000,000 for this bank

Why have they not been closed?

This is Patrick Bevak he makes $419,00 a year

Patrick destroyed a 122 year old bank

Patrick your bank is bankrupt

Net income was ($38MM) in FY10, ($16MM) in FY09 and ($35MM) in FY08.  That might have wiped out some of the equity.

At least the executive pay was not compromised, as they did to the equity base.

Patrick Bevak   made  $419K

James Reske made $274K

Douglas McKay made $408k

Pretty good for wiping out a 122 company.

So they paid this these jokers $1MM to lose $89MM and destroy  122 year old bank!

I would think $400k would go pretty far in Youngstown?

These guys should be in jail

Thanks to them you lost your home, your savings and you still have a loan

New Peoples Bank Honaker VA

Check out the new site the breast are even bigger!

capital2risk.com

Which one of these fat cat banksters has the biggest breasts?

Don’t worry even if you are on the problem bank list, there is still time to play golf 

These are the clowns on the problem bank list, good thing they have time to play golf

Judging by their stomachs they are not going hungry, they also have breasts?

This is Jonathon Mullins

Why is the fat bankster smiling? He makes $192,000 a year

This joker is on the problem bank list with $70,000,000 in problem loans

This guys head is fatter than the problem loan portfolio

New Peoples Bank Honaker, VA was founded in 1998.  The company is on the problem bank list as it entered into a consent agreement with the regulators for deficient commercial real estate lending, as evidenced by the Texas ratio of 62%.

The company has $856MM in assets with $64MM in equity.

This is Frank Sexton,this guy ran this bank into the ground

Frank makes $198,000 a year to engage in deficient commercial lending

However, the problem loan portfolio is phenomenal in relation to the equity position.  They have $13MM in loans that are 30-90 days past due, there are $57MM of loans on non accrual.

The non accrual loans alone should eradicate the equity base.

There are $70MM in bad loans with $56MM in equity, this place is bankrupt!

This Karen Wimmer, she makes all the junk loans

Why is this place not closed down?

At least the executive compensation has not been impacted.

Jonathon Mullins    made  $192K

Kenneth Hart         made $359K

Frank Senton         made $198K

That is good pay for destroying a company.

Do you have your money in this bank?

New Peoples? this place should be put in a rest home

Good night Irene

How about whacking Kenneth Hart for wiping this place out?

This clown lost another $2.5MM in Q3 2011

Kenneth Hart makes $359k a year to lose $2.5MM a quarter.

“New Peoples”?

Check out the website, these “New People are selling this beautiful property for only $225,000?

This place should be shut down, how about on Friday.

They are selling this for only $395,000

Mission Statement

The mission of New Peoples Bankshares is to provide high quality, state of the art, golden rule banking services to our communities while giving a reasonable return to our stockholders and providing a challenging and rewarding work environment for our family of employees.

• We believe we have to serve our customers and exceed their expectations.
• We believe in being honest in all our dealings, both with customers, and with our employees.
• We are committed to remain a locally owned and operated financial institution.

Ten Core Values

• Trust is the foundation of all successful relationships. We will earn your trust.
• When we help you succeed, we succeed together!
• We will treat every person, regardless of gender, age, or race with respect & dignity.
• Many of our people are owners in the bank; owners are highly motivated to provide unparalleled personal service.
• We keep our commitments.
• We will provide innovative products & competitive pricing
• We are dedicated to constant communication with our customers.
• Your business should be confidential…..period!
• We believe in continuing education and training to be the best in serving your financial needs.
• We will make our community a better place to live.

UNITED STATES OF AMERICA
BEFORE THE
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
WASHINGTON, D.C.
STATE CORPORATION COMMISSION
BUREAU OF FINANCIAL INSTITUTIONS
RICHMOND, VIRGINIA
Written Agreement by and among
NEW PEOPLES BANKSHARES, INC.
Honaker, Virginia
NEW PEOPLES BANK, INC.
Honaker, Virginia
FEDERAL RESERVE BANK
OF RICHMOND
Richmond, Virginia
and
STATE CORPORATION COMMISSION
BUREAU OF FINANCIAL INSTITUTIONS
Richmond, Virginia
Docket No. 10-148-WA/RB-BHC
10-148-WA/RB-SM
WHEREAS, in recognition of their common goal to maintain the financial soundness of
New Peoples Bankshares, Inc., Honaker, Virginia (“NPBI”), a registered bank holding
company, and its subsidiary bank, New Peoples Bank, Inc., Honaker, Virginia (the “Bank”), a
state-chartered bank that is a member of the Federal Reserve System, NPBI, the Bank, the
Federal Reserve Bank of Richmond (the “Reserve Bank”), and the State Corporation
Commission Bureau of Financial Institutions (the “Bureau”) have mutually agreed to enter into
this Written Agreement (the “Agreement”); and
2
WHEREAS, on July 27, 2010, NPBI’s and the Bank’s boards of directors, at duly
constituted meetings, adopted resolutions authorizing and directing
Michael G. McGlothlin, to consent to this Agreement on behalf of NPBI and the Bank, and
consenting to compliance with each and every applicable provision of this Agreement by NPBI,
the Bank, and their institution-affiliated parties, as defined in sections 3(u) and 8(b)(3) of the
Federal Deposit Insurance Act, as amended (the “FDI Act”) (12 U.S.C. §§ 1813(u) and
1818(b)(3)).
NOW, THEREFORE, NPBI, the Bank, the Reserve Bank, and the Bureau agree as
follows:
Source of Strength
1. The board of directors of NPBI shall take appropriate steps to fully utilize NPBI’s
financial and managerial resources, pursuant to section 225.4(a) of Regulation Y of the Board of
Governors of the Federal Reserve System (the “Board of Governors”) (12 C.F.R. § 225.4(a)), to
serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that
the Bank complies with this Agreement and any other supervisory action taken by the Bank’s
federal or state regulators.
Board Oversight
2. Within 60 days of this Agreement, the Bank’s board of directors shall submit to
the Reserve Bank and the Bureau a written plan to strengthen board oversight of the management
and operations of the Bank. The plan shall, at a minimum, address, consider, and include:
(a) The actions that the board of directors will take to improve the Bank’s
condition and maintain effective control over, and supervision of, the Bank’s major operations
3
and activities, including but not limited to, credit risk management, processes to mitigate risks
associated with credit concentrations, capital, earnings, funds management, and audit;
(b) the responsibility of the board of directors to monitor management’s
adherence to approved policies and procedures, and applicable laws and regulations;
(c) a description of the information and reports that will be regularly reviewed
by the board of directors in its oversight of the operations and management of the Bank,
including information on the Bank’s adversely classified assets, watch list, concentrations of
credits, allowance for loan and lease losses (“ALLL”), capital, liquidity, earnings, and response
to audit and examination findings; and
(d) the maintenance of adequate and complete minutes of all board and
committee meetings, approval of such minutes, and their retention for supervisory review.
Corporate Governance and Management Review
3. (a) Within 30 days of this Agreement, the board of directors of the Bank shall
retain an independent consultant acceptable to the Reserve Bank and the Bureau to assess the
effectiveness of the Bank’s corporate governance, board and management structure (the
“Review”), to assess staffing needs, and to prepare a written report of findings and
recommendations (the “Report”). The Review shall, at a minimum, address, consider, and
include:
(i) the qualifications and performance of each of the Bank’s senior
executive officers to determine whether the individual possesses
the ability, experience, and other qualifications to competently
perform present and anticipated duties, including their ability to:
adhere to applicable laws and regulations and the Bank’s
4
established policies and procedures; restore and maintain the Bank
to a safe and sound condition; and comply with the requirements of
this Agreement;
(ii) the identification of present and future management and staffing
needs for each area of the Bank, particularly in the areas of credit
risk management, lending and credit administration, loan review,
and problem asset workout; and
(iii) an assessment of the current structure, qualifications, and
composition of the board of directors and their committees, and a
determination of the structure and composition needed to
adequately supervise the affairs of the Bank.
(b) Within 10 days of the Reserve Bank’s and the Bureau’s approval of the
Bank’s independent consultant selection, the Bank shall submit an engagement letter to the
Reserve Bank and the Bureau for approval. The engagement letter shall require the independent
consultant to submit the Report within 30 days of regulatory approval of the engagement letter
and to provide a copy of the Report to the Reserve Bank and the Bureau at the same time that it
is provided to the Bank’s board of directors.
4. Within 30 days of receipt of the Report the Bank’s board of directors shall submit
a written management plan to the Reserve Bank and the Bureau that fully addresses the findings
and recommendations in the independent consultant’s Report and describes the specific actions
that the board of directors proposes to take in order to strengthen the Bank’s management and
corporate governance, and to hire, as necessary, additional or replacement directors, officers or
staff to properly oversee, manage and operate the Bank.
5
Credit Risk Management
5. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and
the Bureau an acceptable written plan to strengthen credit risk management practices. The plan
shall, at a minimum, address, consider, and include:
(a) The responsibility of the board of directors to establish appropriate risk
tolerance guidelines and risk limits;
(b) periodic review and revision of risk exposure limits to address changes in
market conditions;
(c) timely and accurate identification and quantification of credit risk within
the loan portfolio;
(d) strategies to minimize credit losses and reduce the level of problem assets;
(e) enhanced stress testing of loan portfolio segments; and
(f) enhanced watch list reporting.
Concentrations of Credit
6. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and
the Bureau an acceptable written plan to strengthen the Bank’s management of commercial real
estate (“CRE”) concentrations, including steps to reduce the risk of concentrations. The plan
shall, at a minimum, include:
(a) Procedures to identify, limit, and manage concentrations of credit that are
consistent with the Interagency Guidance on Concentrations in Commercial Real Estate Lending,
Sound Risk Management Practices, dated December 12, 2006 (SR 07-1);
(b) a schedule for reducing and the means by which the Bank will reduce the
level of CRE concentrations, and timeframes for achieving the reduced levels; and
6
(c) enhanced monitoring and reporting of CRE concentrations to management
and the board of directors.
Lending and Credit Administration
7. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and
the Bureau an acceptable written lending and credit administration program that shall, at a
minimum, address, consider, and include:
(a) Documented analysis of the borrower’s and guarantor’s repayment
sources, credit worthiness, global cash flow, leverage, liquidity, and overall debt services ability;
(b) types of financial and collateral information that must be obtained and the
timing and frequency for receipt of such information;
(c) standards for renewing, extending, or modifying existing loans;
(d) ongoing assessment, inspection, and reporting of real estate development
project status;
(e) appropriate controls on loan draws, including, but not limited to, a
description of the documents necessary to support the draw;
(f) monitoring and reporting of exceptions to loan policies and procedures;
(g) policies and procedures to minimize financial and document exceptions;
(h) standards for the management of collateral including accurate and timely
valuation of collateral; and
(i) procedures for monitoring loan participations.
Loan Review
8. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and
the Bureau an acceptable written program for the ongoing review and grading of the Bank’s loan
7
portfolio by a qualified independent party or by qualified staff that is independent of the Bank’s
lending function. The program shall, at a minimum, address, consider, and include:
(a) The scope and frequency of the loan review;
(b) standards and criteria for assessing the credit quality of the loans;
(c) application of loan grading standards and criteria to the loan portfolio; and
(d) quarterly written reports to the board of directors that identify the status of
those loans that are adversely graded and the prospects for full collection or strengthening of the
quality of any such loans.
Asset Improvement
9. The Bank shall not, directly or indirectly, extend, renew, or restructure any credit
to or for the benefit of any borrower, including any related interest of the borrower, whose loans
or other extensions of credit are criticized in the report of examination of the Bank conducted by
the Reserve Bank that commenced on September 14, 2009 (the “Report of Examination”) or in
any subsequent report of examination, without the prior approval of a majority of the full board
of directors or a designated committee thereof. The board of directors or its committee shall
document in writing the reasons for the extension of credit, renewal, or restructuring,
specifically certifying that: (i) the Bank’s risk management policies and practices for loan
workout activity are acceptable; (ii) the extension of credit is necessary to improve and protect
the Bank’s interest in the ultimate collection of the credit already granted and maximize its
potential for collection; (iii) the extension of credit reflects prudent underwriting based on
reasonable repayment terms and is adequately secured; and all necessary loan documentation has
been properly and accurately prepared and filed; (iv) the Bank has performed a comprehensive
credit analysis indicating that the borrower has the willingness and ability to repay the debt as
8
supported by an adequate workout plan, as necessary; and (v) the board of directors or its
designated committee reasonably believes that the extension of credit will not impair the Bank’s
interest in obtaining repayment of the already outstanding credit and that the extension of credit
or renewal will be repaid according to its terms. The written certification shall be made a part of
the minutes of the meetings of the board of directors or its committee, as appropriate, and a copy
of the signed certification, together with the credit analysis and related information that was used
in the determination, shall be retained by the Bank in the borrower’s credit file for subsequent
supervisory review. For purposes of this Agreement, the term “related interest” is defined as set
forth in section 215.2(n) of Regulation O of the Board of Governors of the Federal Reserve
System (the “Board of Governors”) (12 C.F.R. § 215.2(n)).
10. (a) Within 60 days of this Agreement, the Bank shall submit to the Reserve
Bank and the Bureau an acceptable written plan designed to improve the Bank’s position through
repayment, amortization, liquidation, additional collateral, or other means on each loan or other
asset in excess of $1,000,000, including OREO, that: (i) is past due as to principal or interest
more than 90 days as of the date of this Agreement; (ii) is on the Bank’s problem loan list; or
(iii) was adversely classified in the Report of Examination. In developing the plan for each loan,
the Bank shall, at a minimum, review, analyze, and document the financial position of the
borrower, including source of repayment, repayment ability, and alternative repayment sources,
as well as the value and accessibility of any pledged or assigned collateral, and any possible
actions to improve the Bank’s collateral position.
(b) Within 30 days of the date that any additional loan or other asset in excess
of $1,000,000, including OREO: (i) becomes past due as to principal or interest for more than
90 days; (ii) is on the Bank’s problem loan list; or (iii) is adversely classified in any subsequent
9
report of examination of the Bank, the Bank shall submit to the Reserve Bank and the Bureau an
acceptable written plan to improve the Bank’s position on such loan or asset.
(c) Within 30 days after the end of each calendar quarter thereafter, the Bank
shall submit a written progress report to the Reserve Bank and the Bureau to update each asset
improvement plan, which shall include, at a minimum, the carrying value of the loan or other
asset and changes in the nature and value of supporting collateral, along with a copy of the
Bank’s current problem loan list, a list of all loan renewals and extensions without full collection
of interest in the last quarter, and past due/non-accrual report. The board of directors shall
review the progress reports before submission to the Reserve Bank and the Bureau and shall
document the review in the minutes of the board of directors’ meetings.
Allowance for Loan and Lease Losses
11. (a) Within 10 days of this Agreement, the Bank shall eliminate from its
books, by charge-off or collection, all assets or portions of assets classified “loss” in the Report
of Examination that have not been previously collected in full or charged off. Thereafter the
Bank shall, within 30 days from the receipt of any federal or state report of examination, charge
off all assets classified “loss” unless otherwise approved in writing by the Reserve Bank and the
Bureau.
(b) Within 60 days of this Agreement, the Bank shall review and revise its
ALLL methodology consistent with relevant supervisory guidance, including the Interagency
Policy Statements on the Allowance for Loan and Lease Losses, dated July 2, 2001 (SR 01-17
(Sup)) and December 13, 2006 (SR 06-17), and the findings and recommendations regarding the
ALLL set forth in the Report of Examination, and submit a description of the revised
methodology to the Reserve Bank and the Bureau. The revised ALLL methodology shall be
10
designed to maintain an adequate ALLL and shall address, consider, and include, at a minimum,
the reliability of the Bank’s loan grading system, the volume of criticized loans, concentrations
of credit, the current level of past due and nonperforming loans, past loan loss experience,
evaluation of probable losses in the Bank’s loan portfolio, including adversely classified loans,
and the impact of market conditions on loan and collateral valuations and collectibility.
(c) Within 60 days of this Agreement, the Bank shall submit to the Reserve
Bank and the Bureau an acceptable written program for the maintenance of an adequate ALLL.
The program shall include policies and procedures to ensure adherence to the revised ALLL
methodology and provide for periodic reviews and updates to the ALLL methodology, as
appropriate. The program shall also provide for a review of the ALLL by the board of directors
on at least a quarterly calendar basis. Any deficiency found in the ALLL shall be remedied in
the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and
Income, by additional provisions. The board of directors shall maintain written documentation
of its review, including the factors considered and conclusions reached by the Bank in
determining the adequacy of the ALLL. During the term of this Agreement, the Bank shall
submit to the Reserve Bank and the Bureau, within 30 days after the end of each calendar
quarter, a written report regarding the board of directors’ quarterly review of the ALLL and a
description of any changes to the methodology used in determining the amount of ALLL for that
quarter.
Capital Plan
12. Within 60 days of this Agreement, NPBI and the Bank shall submit to the Reserve
Bank and the Bureau an acceptable joint written plan to maintain sufficient capital at NPBI on a
11
consolidated basis, and the Bank as a separate legal entity on a stand-alone basis. The plan shall,
at a minimum, address, consider, and include:
(a) NPBI’s current and future capital requirements, including compliance with
the Capital Adequacy Guidelines for Bank Holding Companies: Risk-Based Measure and Tier 1
Leverage Measure, Appendices A and D of Regulation Y of the Board of Governors (12 C.F.R.
Part 225, App. A and D);
(b) the Bank’s current and future capital requirements, including compliance
with the Capital Adequacy Guidelines for State Member Banks: Risk-Based Measure and Tier 1
Leverage Measure, Appendices A and B of Regulation H of the Board of Governors (12 C.F.R.
Part 208, App. A and B);
(c) the adequacy of the Bank’s capital, taking into account the volume of
classified assets, concentrations of credit, the adequacy of the ALLL, current and projected asset
growth, projected retained earnings, and anticipated and contingency funding needs;
(d) the source and timing of additional funds to fulfill NPBI’s and the Bank’s
future capital requirements; and
(e) the requirements of section 225.4(a) of Regulation Y of the Board of
Governors (12 C.F.R. § 225.4(a)) that NPBI serve as a source of strength to the Bank.
13. NPBI and the Bank shall notify the Reserve Bank and the Bureau, in writing, no
more than 30 days after the end of any calendar quarter in which any of NPBI’s consolidated
capital ratios or the Bank’s capital ratios (total risk-based, Tier 1 risk-based, or leverage) fall
below the approved capital plan’s minimum ratios. Together with the notification, the NPBI and
the Bank shall submit an acceptable written plan that details the steps NPBI or the Bank, as
12
appropriate, will take to increase NPBI’s or the Bank’s capital ratios to or above the approved
capital plan’s minimums.
Strategic Plan and Budget
14. (a) Within 90 days of this Agreement, the Bank shall submit to the Reserve
Bank and the Bureau a strategic plan to improve the Bank’s earnings and a budget for 2010. The
written plan and budget shall include, but not be limited to:
(i) Identification of the major areas where, and means by which, the
board of directors will seek to improve the Bank’s operating performance;
(ii) a realistic and comprehensive budget for calendar year 2010,
including income statement and balance sheet projections; and
(iii) a description of the operating assumptions that form the basis for,
and adequately support, major projected income, expense, and balance sheet components.
(b) A strategic plan and budget for each calendar year subsequent to 2010
shall be submitted to the Reserve Bank and the Bureau at least 30 days prior to the beginning of
that calendar year.
Liquidity and Funds Management
15. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and
the Bureau an acceptable written plan designed to improve management of the Bank’s liquidity
position and funds management practices. The plan shall, at a minimum, address, consider, and
include:
(a) Measures to enhance the monitoring, measurement, and reporting of the
Bank’s liquidity to the board of directors; and
13
(b) specific liquidity targets and parameters and the maintenance of sufficient
liquidity to meet contractual obligations and unanticipated demands.
16. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and
the Bureau an acceptable revised written contingency funding plan that, at a minimum, identifies
available sources of liquidity and includes adverse scenario planning.
Dividends and Distributions
17. (a) The Bank shall not declare or pay any dividends without the prior written
approval of the Reserve Bank, the Director of the Division of Banking Supervision and
Regulation of the Board of Governors (the “Director”), and the Bureau.
(b) NPBI shall not declare or pay any dividends without the prior written
approval of the Reserve Bank, the Director, and the Bureau.
(c) NPBI shall not take any other form of payment representing a reduction in
capital from the Bank without the prior written approval of the Reserve Bank and the Bureau.
(d) NPBI and its nonbank subsidiaries shall not make any distributions of
interest, principal, or other sums on subordinated debentures or trust preferred securities without
the prior written approval of the Reserve Bank, the Director, and the Bureau.
(e) All requests for prior approval shall be received at least 30 days prior to
the proposed dividend declaration date, proposed distribution on subordinated debentures, and
required notice of deferral on trust preferred securities. All requests shall contain, at a minimum,
current and projected information, as appropriate, on the parent’s capital, earnings, and cash
flow; the Bank’s capital, asset quality, earnings and ALLL needs; and identification of the
sources of funds for the proposed payment or distribution. For requests to declare or pay
dividends, NPBI and the Bank, as appropriate, must also demonstrate that the requested
14
declaration or payment of dividends is consistent with the Board of Governors’ Policy Statement
on the Payment of Cash Dividends by State Member Banks and Bank Holding Companies, dated
November 14, 1985 (Federal Reserve Regulatory Service, 4-877 at page 4-323), and
Section 6.1-56 of the Code of Virginia.
BSA/AML Compliance
18. Within 90 days of this Agreement, the Bank shall submit to the Reserve Bank and
the Bureau an acceptable written plan to enhance the Bank’s anti-money laundering (“AML”)
internal controls, training, and independent testing and to ensure the Bank’s compliance with all
applicable federal laws, rules, and regulations relating to AML, including the Bank Secrecy Act
(“BSA”) (31 U.S.C. § 5311 et seq.); the rules and regulations issued thereunder by the U.S.
Department of the Treasury (31 C.F.R. Part 103); and the AML requirements of Regulation H of
the Board of Governors (12 C.F.R. § 208.63).
Debt and Stock Redemption
19. (a) NPBI, and its nonbank subsidiaries, shall not, directly or indirectly, incur,
increase, or guarantee any debt without the prior written approval of the Reserve Bank and the
Bureau. All requests for prior written approval shall contain, but not be limited to, a statement
regarding the purpose of the debt, the terms of the debt, and the planned source(s) for debt
repayment, and an analysis of the cash flow resources available to meet such debt repayment.
(b) NPBI shall not, directly or indirectly, purchase or redeem any shares of its
stock without the prior written approval of the Reserve Bank and the Bureau.
Compliance with Laws and Regulations
20. (a) In appointing any new director or senior executive officer, or changing the
responsibilities of any senior executive officer so that the officer would assume a different senior
15
executive officer position, the Bank shall comply with the notice provisions of section 32 of the
FDI Act (12 U.S.C. § 1831i) and Subpart H of Regulation Y of the Board of Governors
(12 C.F.R. §§ 225.71 et seq.).
(b) The Bank shall comply with the restrictions on indemnification and
severance payments of section 18(k) of the FDI Act (12 U.S.C. § 1828(k)) and Part 359 of the
Federal Deposit Insurance Corporation’s regulations (12 C.F.R. Part 359).
Compliance with the Agreement
21. (a) Within 10 days of this Agreement, the boards of directors NPBI and the
Bank shall appoint a joint committee (the “Compliance Committee”) to monitor and coordinate
the compliance with the provisions of this Agreement. The Compliance Committee shall include
a majority of outside directors who are not executive officers of NPBI or the Bank or principal
shareholders of NPBI, as defined in sections 215.2(e)(1) and 215.2(m)(1) of Regulation O of the
Board of Governors (12 C.F.R. §§ 215.2(e)(1) and 215.2(m)(1)). At a minimum, the
Compliance Committee shall meet at least monthly, keep detailed minutes of each meeting, and
report its findings to the boards of directors of the NPBI and the Bank.
(b) Within 30 days after the end of each calendar quarter following the date of
this Agreement, NPBI and the Bank shall submit to the Reserve Bank and the Bureau written
progress reports detailing the form and manner of all actions taken to secure compliance with
this Agreement and the results thereof.
Approval and Implementation of Plans, Program, and Engagement Letter
22. (a) The written plans, program, and an engagement letter required by
paragraphs 3(b), 5, 6, 7, 8, 10(a), 10(b), 11(c), 12, 13, 15, 16, and 18 of this Agreement shall be
submitted to the Reserve Bank and the Bureau for review and approval. Acceptable plans,
program, and engagement letter shall be submitted within the time periods set forth in the
16
Agreement. An independent consultant acceptable to the Reserve Bank and the Bureau shall be
retained in the time period set forth in paragraph 3(a).
(b) Within 10 days of approval by the Reserve Bank and the Bureau, the Bank
shall adopt the approved plans, program, and engagement letter. Upon adoption, the Bank shall
promptly implement the approved plans, program, and engagement letter and thereafter fully
comply with them.
(c) During the term of this Agreement, the approved plans, program, and
engagement letter shall not be amended or rescinded without the prior written approval of the
Reserve Bank and the Bureau.
Communications
23. All communications regarding this Agreement shall be sent to:
(a) Eugene W. Johnson, Jr.
Vice President
Federal Reserve Bank of Richmond
P.O. Box 27622
Richmond, Virginia 23261-7622
(b) John M. Crockett
Deputy Commissioner
State Corporation Commission Bureau of Financial Institutions
P.O. Box 640
Richmond, Virginia 23218
(c) Michael G. McGlothlin
Chairman of the Board
New Peoples Bankshares, Inc.
New Peoples Bank, Inc.
67 Commerce Street
Honaker, Virginia 24260
17
(d) Jonathan D. Mullins
President and Chief Executive Officer
New Peoples Bankshares, Inc.
New Peoples Bank, Inc.
67 Commerce Street
Honaker, Virginia 24260
Miscellaneous
24. Notwithstanding any provision of this Agreement, the Reserve Bank and the
Bureau may, in their sole discretion, grant written extensions of time to NPBI and the Bank to
comply with any provision of this Agreement.
25. The provisions of this Agreement shall be binding upon NPBI and the Bank and
their institution-affiliated parties, in their capacities as such, and their successors and assigns.
26. Each provision of this Agreement shall remain effective and enforceable until
stayed, modified, terminated, or suspended in writing by the Reserve Bank and the Bureau.
27. The provisions of this Agreement shall not bar, estop, or otherwise prevent the
Board of Governors, the Reserve Bank, the Bureau, or any other federal or state agency from
taking any other action affecting NPBI and the Bank or any of their current or former institutionaffiliated
parties and their successors and assigns.
18
28. Pursuant to section 50 of the FDI Act (12 U.S.C. § 1831aa), this Agreement is
enforceable by the Board of Governors under section 8 of the FDI Act (12 U.S.C. § 1818).
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of
the 29th day of July, 2010.
NEW PEOPLES BANKSHARES, INC. FEDERAL RESERVE BANK OF
RICHMOND
By: /s/ Michael G. McGlothlin By: /s/ Eugene W. Johnson, Jr.
Michael G. McGlothlin Eugene W. Johnson, Jr.
Chairman of the Board Vice President
NEW PEOPLES BANK, INC. STATE CORPORATION COMMISSION
BUREAU OF FINANCIAL
INSTITUTIONS
By: /s/ Michael G. McGlothlin By: /s/ John M. Crockett
Michael G. McGlothlin John M. Crockett
Chairman of the Board Deputy Commissioner

Tidelands Bank Mount Pleasant, SC

Tidelands Bank Mount Pleasant, SC was founded in 2003.  They took $13MM in tax payer funded bailout money, which it hasn’t paid back.  As a matter of fact, they stopped paying dividends on this money on 8/10.  That could be the reason they are on the problem bank list.  They agreed to a consent order with the FDIC for having weak management, capital, asset quality and earnings.  The Texas ratio is an incredible 92%.

The company has $573MM in assets with $29MM in stated equity.

The actual equity is $17MM, as the preferred stock is actually tax payer funded, which they decided to not repay.

The problem loan portfolio could easily wipe out the remaining equity.  They have $4MM in funds 30-90 days past due, with $30MM on non accrual.

So, they effectively have $43MM in delinquent loans with only $29MM in equity.

This place is insolvent.

Why haven’t they been shut down?

This management is also good at losing money.  Net income was ($16MM) in FY10,($11MM) in FY09 and ($4MM) in FY08.

They lost $7MM in Q2 2011.

The bank lost another $8MM in Q3 2011 or 78% of the remaining equity.

How are they going to pay the tax payer back $13MM? That is not going to happen.

At least the executives were not afraid to pay themselves, as the tide went out.

Robert Coffee   made $322K

Alan Jackson    made $283K

Mion Smith         made $287K

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

Hey Robert Coffee, the tax payer wants the $13MM back.

Robert Coffee is paying himself $322k, for taking $13MM from the tax payer and not paying it back.

Robert Coffee bankrupted this place in record time.

The market capitalization is $1MM, impressive.

Southern Community Bank and Trust Winston Salem North Carolina

Check out the new site

capital2risk.com

This is Scott Bauer Chairman, he took $41,000,000 of your money

Scott won’t even pay interest on the money he stole

He doesn’t even pay interest on the tax payer’s money

Scott gets paid $546k to lose $90,000,000 in 2 years, this guy is one savvy banker

Southern Community Financial

$42,750,000

Committed

0.3%

of Bank bailout commitment

0.1% >

of total bailout commitment.

Disbursed	$42,750,000
Returned	$0
Revenue to Gov’t	$4,156,250
Net Outstanding	$38,593,750

 

No wonder he is bald

This clown is sitting on almost $90,000,000 in junk loans!

Scott wiped out the shareholders also

Is this white collar crime?

Do you have this savvy banker holding your money

I wouldn’t bank or trust with this

This is Jeff Clark

Jeff took $41,000,000 of you money

Jeff makes $344,000 a year to bankrupt this place

Jeff where is the $41,000,000 you stole from the taxpayer?

Jeff where is the $41,000,000 you stole?

Southern Community Bank Winston-Salem, NC was founded in 1996.  The company took $41MM in tax payer funded bailout out money, which it has refused to pay back.  As a matter of fact, they decided to stop paying interest on these funds also.  The Texas ratio is 64%.  The question why are they not on the problem bank list?

The company has assets of $1.6B with stated equity of $138MM.

However, the actual equity is $96MM, as the preferred stock is actually tax payer funded debt, that they should have paid back.

The problem loan portfolio is immense.  They have $3MM in loan that are 30-90 days past due and an incredible $94MM in non accruals!

This equates to $97MM in bad loans with $96MM in equity.

This place is insolvent.

Why has the government not shut them down?

Then again, why aren’t they on the problem bank list?

The management team is also pretty good at losing money. Net income was ($25MM) in FY10 and ($65MM) in FY09.

How are they going to pay the tax payer back $42MM?

At least the executives are not shy in paying themselves, while they don’t pay the tax payer.

Scott Bauer    made $546K

Jeff Clark          made $344K

Robert Davis  made  $259K

That is good pay for destroying this institution!

Scott Bauer doesn’t pay the dividend on the tax payer bailout of $42MM but he does pay himself.

So Scott, they pay you $546K to lose $90MM in 2 years, maybe you should be history.

Scott, how about using some of that cash to repay the taxpayer

Call the tea party, Scott Bauer is stealing your money

Do you have money in this bankrupt place?

Trust is the operative word.

Maybe they have some confederate money?

How about changing the name to Southern Community Bank and Bust

Waccamaw Bank Whiteville, NC

Worst Bank in the Country?

Take a look at the new site

capital2risk.com

These idiots lost $21,063,000 in Q4 2011 wiping out around 75% of the remaining equity in 90 F$$ckig days

These dopes have $60,000,000 in junk loans and $6,787,000 in equity

This place is BANCR$$PT

You better take your money out of this disaster

BE THE WORST CAPITALIZED BANK IN THE COUNTRY

JIM MAKES $391,000 TO BANKRUPT THIS PLACE

WHY IS THIS CLOWN GIVING MONEY AWAY, THIS DISASTER IS BANKRUPT

WHITEVILLE?

Waccaamaw Bank Whiteville, NC has an astonishing  Texas ratio of 100%.  That is probably why they have become a member of the problem bank list. They entered into a written agreement with the regulators.

The company has assets of $561MM and equity of $33MM.

The problem loan list is interesting.  There are $13MM in loans 30-90 days past due, with $56MM in non accruals.

Hold on, there are $59MM in bad loans with $33MM in equity.

This thing is looking bankrupt.

Why isn’t this place closed down?

They lost $6MM in Q2 2011.

At least the executives were paid well for wrecking this company.

James Graham made  $391K

Richard Norris made $127K.

Not bad pay for wiping out 120% of the company equity.

Do you think James Graham should go?

Hopefully you don’t have money here.  This place is bankrupt and so is the FDIC!

Whiteville? interesting name for a town in North Carolina

It looks like Jim Graham is the guy who ran this place into the ground.

Do you have money in this bank?

Do you trust Jim Graham?

This  clown is going to take your money until he drives the place into bankruptcy.

Guaranty Bank and Trust Denver, Colorado

Guaranty Bank and Trust, Denver, CO was founded in 1958.  The Texas ratio is 58% making it one of the most compromised banks in CO.  The company has the distinction of being on the problem loan bank list.  It has entered into a written agreement with the Fed for adverse construction and commercial real estate lending.

The company has $1.8B in assets and $186MM in equity.

Check this out, the company has problem loans of $14MM that are 30-90 days past due, the non accrual is a staggering $103MM.

The bank has $117MM in bad debt with $186MM in equity.

The non accruals alone should wipe out the equity base.

This place is probably insolvent.

Not only is this team adept at making bad loans, they excel at losing money.  Net income was ($39MM) in FY10, ($30MM) in FY09 and ($256MM) in FY08.  This management group lost $325MM in  3 years!

Fortunately, the executive compensation was not compromised, like the earnings were.

Daniel Quinn   made $909K

Paul Taylor      made $592K

Pretty good pay for destroying this company. They lost $325MM and Daniel Quinn gets paid $900k? That is a good gig.

Check out the website, they will give you free pizza to lose all of your money.

Maybe they will give you an illegal commercial real estate loan with the free pie.

Don’t worry Daniel Quinn will find a way to take $900k from you.

There is one guaranty, I wouldn’t trust my money with this place.

There is one guaranty Daniel Quinn will make $900k to lose $325MM.

Is this your bank?

Bankers Bank of the West Denver CO

Bankers Bank of the West Denver, CO was founded in 1980.  The company took $12MM in tax payer funded bailout money, which it has neglected to repay.  Then again, they haven’t even made a dividend payment on these funds since 11/10. Not a bad deal.  This allowed them to become a member of the problem bank list.  They entered into a written agreement with regulators for general incompetence.  The Texas ratio is an incredible 75%.

They owe the tax payer $527k in unpaid interest.

The net income for Q1 was $622k, why don’t they use this to pay back interest to tax payer?

The company has assets of $387MM with $31MM in equity.

The loan portfolio has $34MM in non accrual.

So they have $34MM in bad loans with only $31MM in equity?

This place is bankrupt.

Why hasn’t it been shut down?

This management team was able to wipe out 35% of the equity position.

How are they going to pay the tax payer back the $12MM?

They can’t, this thing is insolvent

This is the Bankers Bank?

What does a non Bankers Bank look like?

William Mitchell is the CEO.  This guy is one savvy banker.

William, the tax payer wants the $12MM back, how about at least paying interest on the money you stole.

Check out their motto “imagination is the highest kite in the sky”

Can you imagine a balance sheet this bad?

Do you have money in this place?

You should head for the great divide.

First National Bank Fort Collins, CO

First National Bank Fort Collins, CO was founded in 1934.  The Texas ratio is hovering at 47%.

The company has $1.8B in assets and $209MM in equity.

The problem loan situation is immense.  There are $22MM in loans that are 30-90 days past due, with $83MM in non accrual and $28MM OREO.

This bank has $105MM in problem loans with only $209MM in equity.

The bank has serious problems.

Why are they not on the problem bank list, this portfolio has issues.

This place is bankrupt.

Do you have money in this bank?

Can you trust a bank that doesn’t post their financial statements or management team on their website.

First Central Savings Bank Glen Cove, NY

This is on of the worst banks in New York

The Texas ratio is 100%

Do you have money in this bankrupt disaster?

They lost over $7,000,000 in Q4 2011 alone

This place is history

Take a look at the website, they won’t even tell you who the CEO is, do you money in this disaster?

First Central Savings Bank Glen Cove, NY was founded in 1999.  They have the distinction of being on the problem bank list, as they have entered into a consent agreement with the FDIC.  They were cited for inadequate management, asset quality and earnings.  Maybe that is why the Texas ratio is 93%, making it the 3rd worst bank in NY.

The company has assets of $636MM with equity of $40MM.

The problem loan situation is phenomenal.  They have $21MM in loans 30-90 days past due, with $42MM that are 90+ days past and $44MM in non accrual.

That is $107MM in bad loans with only $40MM in equity.

This place is insolvent!

Why haven’t they been shut down?

Macatawa Bank Holland, MI

This Ronald Haan CEO

His bank is on the problem bank list

He makes $286k

Macatawa Bank Holland, MI was founded in 1977.  They became a member of the problem bank list when it entered into a consent agreement with the FDIC.  It was cited for incompetent commercial real estate lending.

The company has $1.5B in assets and $107MM in equity.

The problem loan portfolio is profound.  The company has $5MM in loans 30-90 days past due, an incredible $66MM of non accruals.

Get this, there are $69MM in problem loans with only $107MM in equity.

The equity position declined by 120% in the last 3 years!

This bank is technically insolvent.

Why isn’t this place closed down.

Net income was ($17MM) in FY10 and ($66MM) in FY09, not bad.

Have no fear, the executives were still well compensated.

Ronald Haan made $286K

Jon Swets     made $200K

Jill Wilson     made $155K

Not bad pay for wiping out this institution!

Ronald Haan makes $286k to lose $83MM.

This guy has got it made, image what he would pay himself if they actually made money.

He would be worth a $1MM a year not to lose $83MM.

Capital Bank Raleigh North Carolina

This is Grant Yarber the CEO, he took $41MM of TAARP

Grant gets paid $370k to make $125MM in problem loans

Grant lost $127MM over the last 3 years, how is going to pay back $41MM, he can’t

Capital Bank Raleigh, NC took $41MM in tax payer funded bailout money, which it has neglected to repay.  The Texas ratio is 64%.

Nice bow tie Grant where is the $41,000,000, Capital Bank?

Do you have money with Grant?

The company has $1.5B in assets and $74MM in stated equity.

The actual equity is probably closer to $30MM, as the $41MM in so called preferred stock is actually debt, that is owes to the tax payer.

The problem loan portfolio is amazing.  They have $39MM in loans 30-90 past due, with get this, $86MM in loans over 90 days past due!

That means they have $125MM in problem loans with $41MM in equity.

This place is bankrupt, how come they haven’t been shut down?

Then again, why are they not on the problem bank list?

They might want to drop the word capital from their name, that is the one thing they don’t have.

Net income was ($63MM) in FY10, ($9MM)  in FY09 and ($55MM) in FY08

Based on this stellar performance, how are they going to pay the tax payer back $41MM?

At least the executives are getting paid well for causing this debacle.

Check out Grant, he lost $127,000,000 in the last 3 years

Why is this FAT SLOB smiling, he got paid $370,000

This DOPE took $41,000,000 in TAARP

How about putting Grant in Jail

Grant Yarber       made  $370K

David Morgan      made $218K

Mark Redmond    made $195

Grant Yarber made $370k  to lose $127MM and wrack up $125MM in problem loans.

Not bad pay for destroying this bank and taking $41MM in tax payer money.

Hey Grant you might what to change the name of this train wreck, capital is the one thing you don’t have, how about  Insolvent Bank.  The only capital here is what you are taxing from the tax payer.

First M&F Bank Kosiusko, Mississippi

First M&F Bank Kosiusko, Mississippi was founded in 1890.  The company took $30MM in tax payer funded bailout money, which it has neglected to pay back. For some reason they are not on the problem bank list, despite having a Texas ratio of 40%.

The company has assets of $1.4B and stated equity of $102MM.

The actual equity is probably closer to $72MM, as the preferred stock is really debt.

The problem loan portfolio is impressive.  They have $11MM in loans 30-90 days past, due with $45MM on non accrual.

The non accrual alone could wipe out the equity base.

Check out the properties for sale on their website, they have a nice array of vacant land for sale.

This place is probably technically insolvent.

How are they going to pay the tax payer back?

Don’t worry the executive compensation remains strong.

Hugh Potts made $368MM

John Copeland   made $197K

Jeffrey Lacey     made $203K

Good  pay for creating this level of problem assets.

Encore Bancshares Houston, Texas

The guy in the first row on the right is Preston Moore, he took $34MM in TAARP

Preston makes $599k to make $33MM in bad loans

This bank lost $26MM in FY10, how is Preston going to pay back $34MM

Encore Bancshares Houston, Texas was founded in 1956.  The company took $34MM of tax payer funded bailout money, which it has decided to not pay back.

The company has $1.B is assets with $126MM in equity.

The actual equity position is $92MM, as the $34MM that the company has neglected to pay back is not prefered stock, it is debt.

The problem loans are $5MM in 30-90 days past due with $28MM in non accrual.

This $33MM in bad debt could easily wipe out the equity position.

This bank could quickly become insolvent.

The net income was ($26MM) in FY10.

It is not looking good for them to pay back the tax payer’s $34MM at this rate.

Despite this dismal performance, the executive compensation remains intact.

James D’Aostino   made  $360K

Preston Moore   made       $599K

Harold William made        $520K

Not bad pay for wiping out this company and taking $34MM in tax payer funds which they have made no effort to repay!

What can this place do for an Encore, pay Preston Moore money, another $599k to lose another $26MM.

Harold William needs as a pay increase also for wiping out this company.

These boys get paid good for this kind of destruction.

United Bancorp Tecumesh, MI

United Bancorp Tecumesh, MI was founded in 1893.  The company took $20MM in tax payer bailout funds which is has decided it doesn’t want to pay back.  For some reason, the company is not on the problem bank list.  So if you don’t pay the tax payer back, that is not a problem.

The company has $861MM in assets with stated equity of $92MM.

The actual equity position is $72MM as the $20MM in tax payer funded bailout funds are actually debt not prefered stock.

The company has problem loans consisting of $6MM in loans that are 30-90 days past due, with $31MM in non accrual.

So, the company has $37MM in problem loans with only $72MM in equity.  The non accruals only could effectively wipe out the equity base.

This bank is insolvent, how come they aren’t on the problem bank list.  Then again, why aren’t they shut down?

The net income was ($4MM) in FY10 and ($9MM) in FY09.

So how are they going to pay back the tax payer $20MM?

Luckily, the executives still got paid.

Robert Chapman    made $270K

Randal Rabe              made $193K

Todd Clark                made $177K

Wow, these people were paid well for destroying a 118 year old institution and taking $20MM in tax payer funding.

Check out the website, they talk about the “truth about TAARP”.  They claim it is not a bailout?  Then why don’t you paid it back if you don’t need it?

They state they didn’t get involved in subprime lending, well 50% of your equity base is in jeopardy of getting wiped out with past due loans.

The so called preferred shares offering is debt not equity, debt what you have chosen not to repay.

Unity Bancorp Clinton New Jersey

Why not hire this cat, can’t be worse than James Hughes

This is James Hughes he stole $20,000,000 in tax payer money which he won’t repay

James gets paid $269,000 to steal your money

James is sitting on $25,000,000 in bad loans

James how are you going to pay back $20,000,000 with $25,000,000 in sh$$t loans

This dope’s bank made $203,000 in Q4 how the F$$ck long will it take James Hughes to pay back $20,000,000?

How about 20 years

James $20,000,000

The company has $818MM in assets with supposed stated equity of $68MM.

They should hire this guy he can’t be worse than James Hughes

The actual equity position is only $48MM, as the $20MM in tax payer funded bailout is actually debt, not preferred stock as stated in the financial statements.

The problem bank portfolio consists of $24MM in loans that are 30-90 days past due,with $31MM in non accruals.

That results in $55MM in past due loans with only $48MM in equity.

This place is insolvent, why haven’t they been closed down?

Then again, why aren’t they on the problem bank list?

The company had net income of $720K in FY10 and ($2MM) in FY09.

Based on these financial results, how are they going to repay the tax payer $20MM.  They can’t!

Fortunately, the executive compensation remains robust.

James Hughes   made $269K

Alan Beder       made $164K

This crew does all right for destroying this company

So James how are you going to pay the tax payer back the $20MM you took?

The executives continue to take money while deciding not to pay back they tax payer!

Carver Bancorp, NY, NY

This is Debra Wright the CEO, she took $19MM in bailout money

Debra has not even paid interest on you money since 10/10

Debra gets paid $486k to rack up $120MM in bad loans and run this place into the ground

Carver Bankcorp NY, NY was founded in 1948.  The company stole $19MM in tax payer funded bailout money, which has decided that it doesn’t have to repay.  Get this, they also decided to stop paying interest on these tax payer supported funds since 10/10.  So the tax payer has to pay them interest but they don’t have to pay interest on the tax payer bailout initiative?  They haven’t paid back the bailout money and they are not on the problem bank list.  I would say not paying back $19MM is a problem?  Check this out, the Texas ratio is an astonishing 154%.  As a matter of fact the stock is listed?

The   company has “assets” of $805MM with stated “equity” of $61MM.

The equity position is actually $42MM, as the $19MM in tax payer funded bailout money is not preferred stock it is debt, which they should have paid back to the government.

The problem loan portfolio is insane in relation to the equity position.  They have $30MM in loans 30-90 days past due, the non accruals are, get this $90MM with OREO of $47M.

Hold on, that is $120MM in bad debt with only $42MM in equity.

This place is insolvent, why hasn’t government shut then down?

Another stupider question, why aren’t they on the problem bank list?

This bank is the 2nd worst bank in NY and they aren’t on the problem bank list. Believe me that is stiff competition.

The ROE is (45%), maybe that is why they are delisted.

Net income in FY10 was ($27MM), so how are they going to pay the $19MM back to the tax payer?

At least the executive compensation wasn’t effected.

Deborah Wright   made  $486K

Mark Ricca            made  $208K

This team stole good money for running this 63 year institution into the ground

Check this out, the market capitalization is $1MM?

Is Deborah Wright in paying herself $486K to destroy this place?

Hey Deborah how about at paying interest on the money you stole.

Wright or wrong she is doing better than the tax payer!

Do you have money in this place?

.

DL Evans Bancorpt Burley, ID

This John Evans the CEO, took $19MM in TAARP which he won’t pay back

John caused the bank to lose $5MM in the last tow years, how is going to pay back $19MM?

DL Evanas Bancorp Burley, ID, was founded in 1904.  The company took $19MM in tax payer funded bailout money, which it has refused to repay.  Why isn’t this place on the problem bank list?  I guess taking tax payer funding without repayment is fine.  The Texas ratio is 32%.

The company has $839MM in assets with $80MM in stated equity.

However, the actual equity is $61MM, as the $19MM in supposed equity that they owe the taxpayer is actually debt not prefered stock.

The bank has $8MM in loans that are 30-90 days past due and $24MM in non accrual with $17MM in OREO.

So they have $32MM in bad loans with $61MM in equity.  The non accruals alone could wipe out the equity base.

Net income was ($2MM) in FY10 and ($3MM) in FY09.

So how are they going to pay back $19MM in tax payer funded debt, they can’t.

Maybe these Evan’s boys might want to start using another surname than John, because that is what they are sitting on.

Again, why haven’t you paid back the tax payer the $19MM.

This team has managed to bankrupt a 105 year old institution!

At least it is all in the family.  Except the Evan’s owe the tax payer $19MM!!!!

Heritage Oaks Bancorp Paso Rubles, CA

This is Larry Ward, the CEO, he took $21MM in you bail money, which he hasn’t paid back

Larry hasn’t even paid interest on your money since 2/10

His bank is on the problem bank list

Larry got paid $518k to lose $30MM, not a bad gig

Heritage Oaks Bancorp Paso Rubles, CA was founded in 1983.  The comapny took $21MM in tax payer funded bailout money, which has decided that is doesn’t want to repay.  As a matter of fact, they haven’t even made interest payments since 2/10.  Not a bad deal, the bank doesn’t have to pay interest on money they stole from the tax payer.  What if we didn’t pay interest on money owed to them?  Maybe that is why they are on the problem bank list.  They entered into a consent agreement with the FDIC, for basic incompetence and making bad commercial real estate loans, shocking!

The company has $982MM in assets with $121MM in stated equity.

The actual equity position is $100MM, as the $21MM in preferred stock is actually tax payer funded debt, which they have decided not to pay back.  Then again, they don’t even pay interest.

The problem loan portfolio consists of $2MM in loans 30-90 days past due, $36MM on non accrual.

The non accruals alone, could easily wipe out the equity base.

This bank is technically insolvent.

The net income was ($21MM) in FY10 and ($8MM) in FY09.

So how are they going to pay back the tax payer? They can’t.

Rest assured the executive pay was not effected.

Lawrence Ward  made  $518K

Ronald Oliveira   made  $489K

Joanne Funnari   made   $234K

That is good money for bankrupting this company.

It’s a good thing they can pay themselves but not the tax payer.

Couldn’t they use some of this money to make interest payments.

Why hasn’t the FDIC closed this place down, probably because they are bankrupt also.

Check out the investor relations page.  They have a chart with the efficiency ratio skyrocketing and core EPS getting wiped out.  Guys you probably don’t want the public to see this

First Western Trust Denver, CO

This is William Olsen the CEO, he took $20MM of your bailout money, which he won’t pay back

First Western Trust Denver, CO was founded in 2004.  The company took $20MM in tax payer funded bailout money and has decided not to repay it.  For some reason they are not on the problem bank list.  I guess taking $20MM in tax payer money and not paying it back is not a problem?  The Texas ratio 31%.

The company has assets of $494MM and stated equity of $94MM.

The actual equity is $74MM as the $20MM in bailout funds are debt not equity.

The problem loan portfolio consists of $1MM in loans 30-90 days past due, with non accrual of $17MM.

The company had net income of $4MM in FY10 and $3MM in FY09.

How come they can’t pay the payer back the $20MM they took?

Community Bankers Trust Corp Essex Bank Tappahannock VA

Take a look a the new site

capital2risk.com

Here is Rex Smith

Rex stole $17,000,000 in tax payer money

Rex won’t even pay interest on the money he stole

Rex means king in latin, he is the king of stealing from the tax payer

Community Bankers Trust Corp. Essex Bank Tappahannock VA was founded in 1921.  The company took $17MM in tax payer funded bailout money, which they have decided to not repay.  Then again, they haven’t even paid dividends on these funds since 5/10.  Leave it bankers to not pay interest on tax payer funds.  Maybe, that is why they are on the problem bank list, having entered into a written agreement with the regulators.  The Texas ratio is 38%.

The company has $1B in assets and $107MM in equity.

The problem loan portfolio consists of $17MM in loans 30-90 days past due, with $52MM on non accrual and $15MM of OREO.

The stated equity of $107MM is actually $90MM, as the prefered stock is not equity it is tax payer funded debt that must be paid back.

As a result, they have $69MM in bad loans and only $90MM in equity.  The non accruals alone, could wipe out the equity base.

 

These people are also pretty good at losing money.  The net income was ($22MM) in FY10 and ($30MM) in FY09.

So how are they going to pay the tax payer back with these staggering loses? They can’t.

At least the executive pay hasn’t been impacted.

Rex Smith              made $212K

George Largent    made $407K

John Oakley           made  $180K

Gary Simanson       “earned”  $3MM

That is good pay for bankrupting a 90 year old institution.  Not to mention stealing $17MM in tax payer money.

Maybe Gary Simanson could use the $3MM to pay back the taxpayer?

The Baraboo Bancorporation Baraboo WI

Not a bad choice for CEO he likes to steal money

The Baraboo Bancorporation was founded in 1857.   The company took $20MM in tax payer funded bailout money, which is has decided not to repay.  For some reason they are not on the problem bank list. Not repaying the tax payer is a problem.  The Texas ratio is 52%.

The company has assets of $789MM with equity of $71MM.

The problem loan portfolio consists of $11MM in loans 30-90 days past due, with $21MM on non accrual and $19MM in OREO

Net income was ($2MM) in FY10 and ($7MM) in FY09.

Maybe that is reason they can’t pay the tax payer funds back.

Nova Bank Berwyn, PA

Nova Bank Berwyn, PA was founded in 2003.  The company has the distinction of being on the problem bank list, sounds like they have some problems making commercial real estate loans.   That might be why the Texas ratio is 98%.

Take a look at eh new site

capital2risk.com

Hire this guy as CEO, he is good with kids

This guy likes to “horse around with young boys”

He will take care of the $30,000,000 this disaster has up it’s ASS

Nova a cataclysmic nuclear explosion!

Sounds like the loan portfolio.

Hold on, they are also on the under capitalized bank list. They are now a Super Nova.

The company has assets of $624MM and equity of $17MM.

The problem loan portfolio consists of $13MM of loans that are 30-90 days past due, with $17MM of non accruals.

That is $30MM is bad loans with just $17MM in equity!

This place is insolvent, why haven’t they been closed down?

Net income was ($13MM) in FY10 and ($18MM) in FY09.  They are pretty good at losing money also.

It doesn’t appear as if they are going to earn their way out of this disaster.

It didn’t take long for this place to bankrupt itself.

Do you have money in they place?

The total Tier 1 risk capitalization is 5.48%  which is well below the 8% requirement.

This bank is severely under capitalized, and technically insolvent.

Do you have money in this thing? It is looking like a super nova.

Implosion?

Waterstone Bank Wauwatosa, WI

Take a look at the new site

capital2risk.com

This place lost another $8,200,000 in Q4 2012

These dopes are sitting on $136,000,000 in junk loans!

Check out Douglas Gordan on the right, why is he smiling?

His bank is on the problem bank list, $145,000,000 in bad loans and $166,000,000 in equity, he is screwed

Don’t worry he makes $427k a year including country club memberships and a car allowance

This is Eric Egenhoe, this cheese-head he makes $402,000 a year

This includes country club fees

Waterstone Bank Wauwatosa, WI was founded in 1921.  They have entered the ranks of the problem bank list, as they have signed a consent order with the FDIC.  That might have something to do with having a Texas ratio of 72%.

The company has assets of  $1.8B and equity of $166MM.

The problem loan portfolio is impressive.  With $29MM in loans past due 30-90 days and non accruals of $89MM.

The problem loan portfolio has the ability to eradicate the equity position.

The non accruals alone could wipe out the equity position.

This company is probably technically insolvent.

There is a $145,000,000 in Shi$$T loans sitting inside this bankrupt debacle

Judging from the earnings performance, they have demonstrated that they can’t earn their way out of this mess.

Rest assured, the executive compensation has not been compromised.

Douglas Gordon   made $427K

Richard Larsen     made  $253K

William Bruss       made   $402K

Eric Egenhoeter made $402K

That is dam good pay for destroying a 90 year old institution.

Don’t worry, the compensation included country club dues and car allowances.

Why isn’t this place closed down?

Douglas Gordon should be fired for bankrupting this place.

Paragon Commercial Bank Raleigh, NC

Hire this guy, he didn’t f$ the bank up

Paragon Commercial Bank Raleigh, NC was founded in 1999.  The company has a very high Texas ratio.  This bank is rated a 1 out of 5, which is the worst rating on the scale.

The bank has assets of $1B and equity of $91MM.

The problem loan portfolio consists on $17MM of loans that are 30-90 days past due, with $32MM in non accruals.

That is $49MM of problem loans with only $91MM in equity.

The problem loans could severely compromise the equity situation.

Keep an eye on this place, things don’t look great.

As a matter of fact, they have neglected to post the FY2010 financial statements on their website?

Town & Country Bank and Trust Bardstown Kentucky Bankrupt! Do have money here Bankrupt $31,000,000 in problem loans! 100 year old bank BANKRUPT

This is one savvy CEO, at least Hunter could make money

Town & Country Bank and Trust Bardstown, Kentucky was founded in 1907.  They have been nominated to the problem bank list, as they entered into a consent order with the FDIC, for general poor CRE lending.  The Texas ratio is 74%, making them one of the worst banks in the state.  It appears as if the stock is delisted.

The company has assets of $432MM and $35MM in equity.

The problem loan situation has the ability to wipe out the equity base.  There are $12MM in loans 30-90 days past due, $2MM over 90 days, $27MM on non accrual and $40MM in OREO.

This bank is insolvent and should be closed.  The non accrual loans could easily eradicate the equity base.

The net income was ($3MM) in FY10 and $134K in FY09, they have demonstrated that they do not have the ability to earn their way out of this disaster.

They are on the verge bankrupting a 100 year old institution, that survived the great depression.

Check out the website for their statement of financial condition.

For some reason they forgot to include the income statement.

Then again, they forgot to tell you about the $31MM in bad loans.

Hopefully you don’t have money in this thing.

Highlands Union Bank Abingdon, VA

These clowns lost $5,924,000 in Q4 2011 alone

These dopes are sitting on $39,000,000 in sh$$t loans

The guy on the left is Sam Neese, his bank is on the problem bank list

Sam is sitting on $45,000,000 in junk loans

The Motto “Don’t lose sight of the customer”? Sam where the hell is the $45,000,000 you stole from the customer?

Sam gets paid $230,000 to run this place into the ground, this includes a country club membership?

Highlands Union Bank Abingdon, VA was founded in 1985.  The company is a member of the problem bank club as it entered into a written agreement with the regulators.  They were cited for general incompetence.  The Texas ratio is 70%.

The company has $655MM in assets with only $32MM in equity.

The problem loan portfolio has the potential to destroy the equity base.  There are $7MM in loans 30-90 days past due, with $31MM in non accrual and $15MM in OREO.

This bank is insolvent, why is not closed.  The non accrual portfolio alone, could eradicate the capital base.

At least the executive salaries are being sustained.

Samuel Neese    made  $230K

Gary Dutton      made    $150K

Wayne Perry    made     $112K

The market capitalization is $15MM!

Citizens Union Bank of Shelbyville Shelbyville Kentucky

This is David Dowling he got this place on the problem bank list

They were cited for inadequate management, shocking!

This cat likes to finance vacant land, he is a savvy banker

This is George Borders

George is sitting on $51,000,000 in bad loans

Inadequate asset quality George? Shocking!

Citizens Bank of Shelbyville KY was founded in 1886.  It was nominated to the problem bank list by the FDIC.   It was cited for inadequate management, quality of assets, earnings and capital.  The Texas ratio is a staggering 80%.

Here is the management team they wiped out a 126 year bank

The company has assets of $640MM with equity of $66MM.

The problem loan portfolio is impressive.  They have $3MM in loans past due 30-90 days, with $42MM on non accrual and $18MM in OREO.

With $45MM in problem loans and equity of $66MM, this bank is technically insolvent.

Here is the board?

The non accruals alone could easily wipe out the equity position.

They should put this guy on the board

Why is this company not liquidated?

The one thing they do have is an impressive list of foreclosed properties they need to sell.

Check this out, they have an undevloped 39 acre subdivision, another 33 undeveloped lots for sale, a 34 unit undeveloped sub division and finally 30 more lots for sale in another sub division.

These boys wiped out a 186 year financial institution.

Do any on you developers want to buy some vacant land?

Do you have money in this train wreck?

Double down on the vacant land.

This bank has forgotten to post their financial statements, surprising!

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Contact: Stephanie Gilezan (502) 817-6484 Realtor Link Status: Available for purchase   Address:  7805 Alfred Schlatter #5 – The Landings City, State: Louisville , KY 40214 Description: This beautiful 2 bedroom, 2 bath condo has a very open floor plans. It offers a master bath and large kitchen with appliances. Contact: Stephanie Gilezan (502) 817-6484 Realtor Link Status: Available for purchase   Address: 7118 Schneble Circle Land City, State: Louisville, KY 40214 Description: Already developed land for 80 apartment/condo units. Existing condos on the property already selling for $72,900 – $89,900 price points. Price works out to be $6,000 per unit for the land. Contact: Stephanie Gilezan (502) 817-6484 Realtor Link Status: Available for purchase   Address:  0 Woods Of Harrods Creek – Land City, State: Crestwood, KY 40014 Description: 18 lot development in Oldham County , streets are in, water, electric, lots range from 1 acre to 4.68 acres, 42.19 acres of open space, views of creek and trees, approx 63 total acres. Contact: Stephanie Gilezan (502) 817-6484 Realtor Link Status: Available for purchase   Address:  4401 Fegenbush Ln City, State: Louisville , KY 40228 Description: High income producing Self-Service Car Wash in high volume area behind McDonald’s and across from Bill Collins Ford. This property appraised in 2010 for $900,000. Now bank owned and ready to sell. All car wash mechanicals are operational, working and making money! Contact: Stephanie Gilezan (502) 817-6484 Realtor Link Status: SOLD Address: 5079 L&N Turnpike City, State: Magnolia, KY Description: 3 Bed, 1 Bath, 1145 sq ft single family home Contact: Steve Reesor (270) 769-2361 Realtor Link Status: Available for purchase Address: 10726 Glenmary Springs Drive City, State: Louisville, KY Description: 3 bedroom, 3 bath 1942 sq ft patio home in GLENMARY SPRINGS.  It has an open floor plan that includes a great room with fireplace, Forida room and a patio that is great for entertaining.  1 mile south of GENE SNYDER off Bardstown Rd. Contact: Mike Hayes  (502) 644-2903 Realtor Link Status: Available for purchase Address: 10720 Glenmary Springs Drive City, State: Louisville, KY Description: 3 bedroom, 3 bath1750 sq ft. patio home in Glenmary Springs. It has an open floor plan with 1st floor fireplace in the great room sets the tone for a great place to gather with your guests. 1 mile south of Gene Snyder off Bardstown Rd. Contact: Mike Hayes (502) 644-2903 Realtor Link Status: Available for purchase   Address: 226 Twin Spring Ct City, State: Shelbyville, KY Description:3 bedroom & 2 bath 1,819 sq ft patio home offers style & sophistication at great price for anyone seeking mainenance free home in great location.  Minutes from I-64. Contact: Larry Rogers  (888) 409-8725 Realtor Link Status: Available for purchase   Address: 2 Twin Spring Ct City, State: Shelbyville, KY Description:27 Patio Home Pads / 54 Units for sale in popular & convenient area. Just minutes from I-64 and golf course. Contact: Larry Rogers  (888) 409-8725 Realtor Link Status: Available for purchase   Address: US Highway 421 N City, State: Greensburg, IN Description: Land only. Lot 1 consisting of 33 acres zoned residential; Lot 2 consisting of 78 acres zoned heavy commercial. Contact: Bo Leffel  (317) 639-0441 Realtor Link Status: Available for purchase   Address: 5404 Johnsontown Rd. City, State: Louisville, KY Description: 4 bedroom, 1 bath 1092 sq. ft. single family residence. 2 car detached garage. Contact: Barry Webb (502) 321-4580 Realtor Link Status: Available for purchase   Address: 1316 Southgate Ave. City, State: Louisville, KY Description: 1400 sq ft., 3 bedroom, 1.5 bath single family residence. Contact: Barry Webb (502) 321-4580 Realtor Link Status: Available for purchase   Address: 4407 E. Pages Ln City, State: Louisville, KY Description: 1247 sq. ft., 3 bedroom 1 bath single family residence.  Ready to Move In!! Newly Remodeled with a 2 car detached garage. Contact: Barry Webb (502) 321-4580 Realtor Link Status: Available for purchase Address: 143 & 145 N. Gardiner City, State: Scottsburg, IN Description: Commercial Property!! Frontage on Hwy. 31 of 184 highway frontage. 2 story metal building w/1200 sq ft. 1.5 story house w/full, unfinished basement Contact: Jack Bridgewater  (812) 752-3844 Realtor Link Status: Available for purchase Address: 143 & 145 N. Gardiner City, State: Scottsburg, IN Description: Commercial Property!! Frontage on Hwy. 31 of 184 highway frontage. 2 story metal building w/1200 sq ft. 1.5 story house w/full, unfinished basement Contact: Jack Bridgewater  (812) 752-3844 Realtor Link Status: Available for purchase Address: 2140 Long Run Road City, State: Louisville, KY Description:New Price!! Beautifully renovated home on 5 acres. This old beauty has been updated with new windows, carpet, hardwood flooring, ceramic tiles, paint, bathrooms, patio, deck, new septic tank and more! Contact: Santosh Bhatt (502) 643-9770 Realtor Link Status: Available for purchase Address: 619 West Spring St City, State:New Albany, IN Description: Duplex in downtown New Albany. The lower level unit has 3 BR 1 bath & the upper level unit has a 2 BR and 1 bath. Contact: Rachel Dreyer (502) 386-3669 Realtor Link Status: Available for purchase Address: 3405 Taylorsville Rd. City, State: Taylorsville, KY Description: 2.80 acres on Taylorsville Rd. located between Elk Creek area and Taylorsville. Contact: Trish Segrest (502) 439-9877 Realtor Link Status: Available for purchase For information on the following development projects contact Jim Long at 633-4450. Dogwood Trace – Shelby Co. Twin Springs – Shelby Co. REVX Holding – Greensburg, IN Cedar Creek Gardens – Jefferson Co. Glenmary Springs – Jefferson Co.

Copyright 2009, Citizens Union Bancorp Member FDIC Equal Housing Lender Home  |  Contact Us  |  Privacy Statement  |  CRA Notice  |  Patriot Act Notice

Notice of Changes In Temporary FDIC Insurance Coverage for Transaction AccountsAll funds in a “noninterest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012.

This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rules.

The term “noninterest-bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, money-market deposit accounts, and Interest on Lawyers Trust Accounts (IOLTAs).

For more information about temporary FDIC insurance coverage of transaction accounts visit http://www.fdic.gov.

Account disclosures that include current rates, terms, and fees (if any) are available at any Citizens Union Bank location.

FDIC Electronic Deposit Insurance Estimator (EDIE)
EDIE is used to calculate insurance coverage for all types of deposit accounts offered by FDIC-insured banks. For more information about the FDIC’s Electronic Deposit Insurance Estimator- EDIE visit https://www.fdic.gov/edie.

Eastern Virginia Bancshares Tappahannock, VA

This is Joe Shearin CEO, took $24MM of your money, which he won’t pay back

Joe made $438k for making $56MM in bad loans

He lost $18MM in the last 2 years, how is he going to pay $24MM back?

Eastern Virginia Bancshares Tappahannock, VA was founded in 1910.  The company took $24MM in tax payer funded bailout money, which they have neglected to pay back.

They have $1B in assets with $85MM in supposed equity.

However, the $24MM of equity from the tax payer bailout funds is actually debt not preferred stock.  This results in an actual equity base of $61M.

The problem loan portfolio consists of $20MM of loans that are 30-90 days past due, with $36MM on non accrual and $11MM in OREO.

So they have $56MM in problem debt and only $61MM in equity.

This bank is technically insolvent, how come they are not on the problem bank list?

The financial performance was not exactly stellar.  Net income was ($10MM) in FY10 and ($8MM) in FY09.

Based on these results, how are they going to pay the tax payer back $24MM, they can’t.

Thankfully, the executives are still being well compensated.

Joe Shearin    made $438K

James Hackett   made $197

Pretty good salaries for destroying a 101 year old institution.

So Joe Shearin loses $18MM, runs up $64MM in bad loans, steals $24MM from the tax payer and pays himself $438k to do this. Only in America

They have forgotten to post the annual report on the website since 2008. Probably to busy losing money for such nonsense.

Cecil Bank Elkton Maryland

Take a look at the new site

capital2risk.com

This place stole $11,000,000 in tax payer money

Charles Sponato makes $703,000 a year but he doesn’t even pay interest on the $11,000,000 he stole

These clowns lost $4,546,000 in Q4 2011

Charles Sponato is sitting on $62,000,000 in junk loans, this place is bankrupt

Charles should be in jail

Do you have money in this bankrupt entity?

                                                                                                These two in the front row paid themselves over $1MM

Cecil Bank Elkton, MD was founded in 1954.  The company took $11MM in tax payer bailout funding which it has neglected to pay back,  As a matter of fact, they haven’t even chosen to pay dividends on these funds since 11/09.  The company is on the problem bank list when it entered into a formal agreement with the regulators. The Texas ratio is an astonishing 126%.

The company has assets of $487MM with equity of $18MM.

The problem loan portfolio is huge in relation to the asset base.  The problem loans are $66MM.

That translates into $66MM in bad loans, with $18M in equity, scary.

This thing is insolvent, why isn’t it shut down?

With net income of $1MM in FY10 and ($2MM) in FY09, how are they going to back the $11MM in tax payer funds?

Hold on, they lost another $4.3MM in Q2, there was a $1.7MM tax loss carry forward of $1.7MM, resulting in a reported loss of $2.5MM, not bad.

The executive pay was not impacted

Mary Halsey made $328K

Charles Sposato made  $703K

Not bad pay for destroying this company

So, Mary Halsey and Charles Sposato were paid $1MM, when the company hasn’t even paid interest on the tax payer funded bailout of their company since 2009.

Check out their net income, they get paid more than the company makes in a year and they owe the tax payer $11MM.  It is a good thing they get paid first, for running this place into the ground.

Take a look at their press releases, there are none.  Here is press release, this place is history.

As Charles Sposato says, the best way to rob a bank is to own one!

Does Mary Halsey know what she is doing? Apparently not, she ran this place into the ground.

You would think for $328K a year, she could get a decent haircut.

Do you have money in this disaster?

At least Charles Sposato gets to steal $703k, while he bankrupts this place, only in America.

So, Charles Sposato pays himself $703K but doesn’t even pay the tax payer in interest on the money he stole.

He should be in jail.

Do you have money in this bank?

UNITED STATES OF AMERICA BEFORE THE
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
WASHINGTON, DC.
STATE OF MARYLAND COMMISSIONER OF FINANCIAL REGULATION BALTIMORE, MARYLAND
Written Agreement by and among
CECIL BANCORP, INC. Elkton, Maryland
CECIL BANK Elkton, Maryland
FEDERAL RESERVE BANK OF RICHMOND Richmond, Virginia
and
STATE OF MARYLAND COMMISSIONER OF FINANCIAL REGULATION Baltimore, Maryland
Docket Nos. 10-044 -WA/RB-HC 10-044 -WA/RB-SM
WHEREAS, in recognition of their common goal to maintain the financial soundness of Cecil Bancorp, Inc., Elkton, Maryland (“Bancorp”), a registered bank holding company, and its subsidiary bank, Cecil Bank, Elkton, Maryland (the “Bank”), a state chartered bank that is a member of the Federal Reserve System, Bancorp, the Bank, the Federal Reserve Bank of Richmond (the “Reserve Bank”), and the State of Maryland Commissioner of Financial Regulation, Baltimore, Maryland (the “Commissioner”) have mutually agreed to enter into this Written Agreement (the “Agreement”); and [Page Break]
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WHEREAS, on June 23, 2010, the boards of directors of Bancorp and the Bank, at duly constituted meetings, adopted resolutions authorizing and directing Charles F. Sposato to enter into this Agreement on behalf of Bancorp and the Bank, and consenting to compliance with each and every applicable provision of this Agreement by Bancorp and the Bank, and their institution-affiliated parties, as defined in sections 3(u) and 8(b)(3) of the Federal Deposit Insurance Act, as amended (the “FDI Act”)(12 U.S.C. §§ 1813(u) and 1818(b)(3)).
NOW, THEREFORE, Bancorp, Bank, Reserve Bank, and the Commissioner agree as follows:
Source of Strength
1. The board of directors of Bancorp shall take appropriate steps to fully utilize Bancorp’s financial and managerial resources, pursuant to Section 225.4 (a) of Regulation Y of the Board of Governors of the Federal Reserve System (the “Board of Governors”) (12 C.F.R.
§ 225.4(a)), to serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that the Bank complies with this Agreement. Board Oversight
2. Within 60 days of this Agreement, the board of directors of the Bank shall submit to the Reserve Bank and the Commissioner a written plan to strengthen board oversight of the management and operations of the Bank. The plan shall, at a minimum, address, consider, and include:
(a) The actions that the board of directors will take to improve the Bank’s condition and maintain effective control over, and supervision of, the Bank’s major operations [Page Break]
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and activities, including but not limited to, credit risk management, loan review and approval, processes to mitigate risks associated with credit concentrations, capital, and liquidity;
(b) steps to strengthen the Bank’s audit function and the effectiveness of the board of directors’ Audit Committee in carrying out its oversight responsibilities;
(c) the development of a management succession plan to promote the retention and continuity of capable management; and
(d) a description of the information and reports that will be regularly reviewed by the board of directors in its oversight of the operations and management of the Bank, including information on the Bank’s adversely classified assets, concentrations of credits, allowance for loan and lease losses (“ALLL”), capital, liquidity, and earnings.
Corporate Governance Review
3. (a) Within 30 days of this Agreement, the Bank’s board of directors shall retain an independent consultant acceptable to the Reserve Bank and the Commissioner to conduct a review of the effectiveness of the Bank’s corporate governance (the “Review”) and to prepare a written report of findings and recommendations (the “Report”). The Review shall, at a minimum, address, consider, and include:
(i) the current structure and composition of the board of directors and its committees to ensure that they have the appropriate independence to carry out the board of directors’ oversight responsibilities, and a determination of the structure and composition needed to adequately supervise the affairs of the Bank;
(ii) the responsibility of the board of directors to monitor management’s adherence to approved policies and procedures, and applicable laws and regulations; and [Page Break]
Page 4
(iii) the salary and fee structure for senior management and the board of
directors.
(b) Within 10 days of the Reserve Bank’s and the Commissioner’s approval of the independent consultant selection, the Bank shall submit an engagement letter to the Reserve Bank and the Commissioner for approval. The engagement letter shall require the independent consultant to submit the Report within 30 days of regulatory approval of the engagement letter and to provide a copy of the Report to the Reserve Bank and the Commissioner at the same time that it is provided to the Bank’s board of directors.
4. Within 30 days of receipt of the Report, the Bank’s board of directors shall submit a written management plan to the Reserve Bank and the Commissioner that fully addresses the findings and recommendations in the Report and describes the specific actions that the board of directors proposes to take in order to strengthen the Bank’s corporate governance.
Credit Risk Management and Credit Administration
5. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable written plan to strengthen credit risk management practices. The plan shall, at a minimum, address, consider, and include:
(a) Periodic review and revision of risk exposure limits to address changes in market conditions;
(b) strategies to minimize credit losses and reduce the level of problem assets;
(c) timely and accurate identification and quantification of credit risk within the loan portfolio;
(d) stress testing of loan and portfolio segments; and
(e) management’s monitoring and controlling of problem assets. [Page Break]
Page 5
Concentrations of Credit
6. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable written plan to strengthen the Bank’s management of commercial real estate (“CRE”) concentrations, including steps to reduce or mitigate the risk of concentrations. The plan shall be consistent with the Interagency Guidance on Concentrations in Commercial Real Estate Lending, Sound Risk Management Practices, dated December 12, 2006 (SR 07-1), and, at a minimum, address, consider, and include:
(a) Establishment of concentration of credit risk tolerances or limits by types of loan products, geographic locations, and other common risk characteristics or sensitivities;
(b) ongoing risk assessments;
(c) strategic planning regarding risks associated with CRE concentrations, including steps to control and mitigate such risks;
(d) a schedule for reducing and the means by which the Bank will reduce the level of CRE concentrations; and
(e) enhanced periodic reporting to management and the board of directors. Lending and Credit Administration Program
7. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable enhanced written lending and credit administration program that shall, at a minimum, address, consider, and include:
(a) Enhancements to the internal loan grading system to timely and accurately identify individual problem credits;
(b) loan approval limits for individual officers; and
(c) loan approval limits for the loan committee. [Page Break]
Page 6
Loan Review Program
8. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable written program for the ongoing review and grading of the Bank’s loan portfolio by a qualified independent party. The program shall, at a minimum, address, consider, and include:
(a) The scope and frequency of loan review;
(b) standards and criteria for assessing the credit quality of loans;
(c) application of loan grading standards and criteria to the loan portfolio;
(d) controls to ensure adherence to the revised loan review and grading
standards; and
(e) written reports to the board of directors, at least quarterly, that identify the status of those loans that are nonperforming or adversely graded and the prospects for full collection or strengthening of the quality of any such loans.
Asset Improvement
9. The Bank shall not, directly or indirectly, extend, renew, or restructure any credit to or for the benefit of any borrower, including any related interest of the borrower, whose loans or other extensions of credit are criticized in the report of examination of the Bank conducted by the Reserve Bank that commenced on October 5, 2009 (the “Report of Examination”) or in any subsequent report of examination by the Reserve Bank and/or the Commissioner, without the prior approval of a majority of the full board of directors or a designated committee thereof. The board of directors or its committee shall document in writing the reasons for the extension of credit, renewal, or restructuring, specifically certifying that: (i) the Bank’s risk management policies and practices for loan workout activity are acceptable; (ii) the extension of credit is [Page Break]
Page 7
necessary to improve and protect the Bank’s interest in the ultimate collection of the credit already granted and maximize its potential for collection; (iii) the extension of credit reflects prudent underwriting based on reasonable repayment terms and is adequately secured; and all necessary loan documentation has been properly and accurately prepared and filed; (iv) the Bank has performed a comprehensive credit analysis indicating that the borrower has the willingness and ability to repay the debt as supported by an adequate workout plan, as necessary; and (v) the board of directors or its designated committee reasonably believes that the extension of credit will not impair the Bank’s interest in obtaining repayment of the already outstanding credit and that the extension of credit or renewal will be repaid according to its terms. The written certification shall be made a part of the minutes of the meetings of the board of directors or its committee, as appropriate, and a copy of the signed certification, together with the credit analysis and related information that was used in the determination, shall be retained by the Bank in the borrower’s credit file for subsequent supervisory review. For purposes of this Agreement, the term “related interest” is defined as set forth in section 215.2(n) of Regulation O of the Board of Governors (12 C.F.R. § 215.2(n)).
10. (a) Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable written plan designed to improve the Bank’s position through repayment, amortization, liquidation, additional collateral, or other means on each loan, relationship, or other asset in excess of $250,000, including other real estate owned (“OREO”) and pools of loans, that are past due as to principal or interest more than 90 days as of the date of this Agreement, are on the Bank’s problem loan list, or were adversely classified in the Report of Examination.
(b) Within 30 days of the date that any additional loan, relationship, or other [Page Break]
Page 8
asset in excess of $250,000, including OREO, becomes past due as to principal or interest for more than 90 days, is on the Bank’s problem loan list, or is adversely classified in any subsequent report of examination of the Bank, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable written plan to improve the Bank’s position on such loan, relationship, or asset.
(c) Within 30 days after the end of each calendar quarter thereafter, the Bank shall submit a written progress report to the Reserve Bank and the Commissioner to update each asset improvement plan, which shall include, at a minimum, the carrying value of the loan or other asset and changes in the nature and value of supporting collateral, along with a copy of the Bank’s current problem loan list, a list of all loan renewals and extensions without full collection of interest in the last quarter, and past due/non-accrual report.
11. Within 90 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable plan for the use or disposition of any real property acquired by the Bank or a subsidiary of the Bank for future use as bank premises. The plan shall, at a minimum, address, consider, and include:
(a) A realistic analysis of the prospects for the Bank’s use of such property as premises within the next twelve months; and
(b) the timely disposition of such property if it is not to be used for bank
premises.
Allowance for Loan and Lease Losses
12. (a) Within 10 days of this Agreement, the Bank shall eliminate from its books, by charge-off or collection, all assets or portions of assets classified “loss” in the Report of Examination that have not been previously collected in full or charged off. Thereafter the [Page Break]
Page 9
Bank shall, within 30 days from the receipt of any federal or state report of examination, charge off all assets classified “loss” unless otherwise approved in writing by the Reserve Bank and the Commissioner.
(b) Within 60 days of this Agreement, the Bank shall review and revise its ALLL methodology consistent with relevant supervisory guidance, including the Interagency Policy Statements on the Allowance for Loan and Lease Losses, dated July 2, 2001 (SR 01-17 (Sup)) and December 13, 2006 (SR 06-17), and the findings and recommendations regarding the ALLL set forth in the Report of Examination, and submit a description of the revised methodology to the Reserve Bank and the Commissioner. The revised ALLL methodology shall be designed to maintain an adequate ALLL and shall address, consider, and include, at a minimum, the reliability of the Bank’s loan grading system, the volume of criticized loans, concentrations of credit, the current level of past due and nonperforming loans, past loan loss experience, evaluation of probable losses in the Bank’s loan portfolio, including adversely classified loans, and the impact of market conditions on loan and collateral valuations and collectability.
(c) Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable written program for the maintenance of an adequate ALLL. The program shall include policies and procedures to ensure adherence to the Bank’s revised ALLL methodology and provide for periodic reviews and updates to the ALLL methodology, as appropriate. The program shall also provide for a review of the ALLL by the board of directors on at least a quarterly calendar basis. Any deficiency found in the ALLL shall be remedied in the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and Income, by additional provisions. The board of directors shall maintain written [Page Break]
Page 10
documentation of its review, including the factors considered and conclusions reached by the Bank in determining the adequacy of the ALLL. During the term of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner, within 30 days after the end of each calendar quarter, a written report regarding the board of directors’ quarterly review of the ALLL and a description of any changes to the methodology used in determining the amount of the ALLL for that quarter. Capital Plan
13. Within 60 days of this Agreement, Bancorp and the Bank shall submit to the Reserve Bank and the Commissioner an acceptable joint written plan to maintain sufficient capital at Bancorp on a consolidated basis, and the Bank as a separate legal entity on a stand-alone basis. The plan shall, at a minimum, address, consider, and include:
(a) Bancorp’s current and future capital requirements, including compliance with the Capital Adequacy Guidelines for Bank Holding Companies: Risk-Based Measure and Tier 1 Leverage Measure, Appendices A and D of Regulation Y of the Board of Governors (12 C.F.R. Part 225, App. A and D);
(b) the Bank’s current and future capital requirements, including compliance with the Capital Adequacy Guidelines for State Member Banks: Risk-Based Measure and Tier 1 Leverage Measure, Appendices A and B of Regulation H of the Board of Governors (12 C.F.R. Part 208, App. A and B);
(c) the adequacy of the Bank’s capital, taking into account the volume of classified assets, concentrations of credit, the adequacy of the ALLL, current and projected asset growth, projected retained earnings, and anticipated and contingency funding needs;
(d) the source and timing of additional funds to fulfill Bancorp’s and the [Page Break]
Page 11
Bank’s future capital requirements; and
(e) the requirements of section 225.4(a) of Regulation Y of the Board of Governors (12 C.F.R. § 225.4(a)) that Bancorp serve as a source of strength to the Bank.
14. Bancorp and the Bank shall notify the Reserve Bank and the Commissioner, in writing, no more than 30 days after the end of any calendar quarter in which any of Bancorp’s consolidated capital ratios, or the Bank’s capital ratios (total risk-based, Tier 1, or leverage), fall below the approved capital plan’s minimum ratios. Together with the notification, Bancorp and the Bank shall submit an acceptable written plan that details the steps Bancorp or the Bank, as appropriate, will take to increase Bancorp’s or the Bank’s capital ratios to or above the approved capital plan’s minimums.
Liquidity and Funds Management
15. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable revised written contingency funding plan that, at a minimum, includes adverse scenario planning and identifies and quantifies available sources of liquidity for each scenario.
Earnings Plan and Budget
16. (a) Within 90 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner a written business plan for the remainder of 2010 to improve the Bank’s earnings and overall condition. The plan, at a minimum, shall provide for or describe:
(i) a realistic and comprehensive budget for the remainder of calendar year 2010, including income statement and balance sheet projections; and
(ii) a description of the operating assumptions that form the basis for, and adequately support, major projected income, expense, and balance sheet components. [Page Break]
Page 12
(b) During the term of this Agreement, a business plan and budget for each calendar year subsequent to 2010 shall be submitted to the Reserve Bank and the Commissioner with the at least 30 days prior to the beginning of that calendar year. Dividends and Distributions
17. (a) Bancorp and the Bank shall not declare or pay any dividends without the prior written approval of the Reserve Bank, the Director of the Division of Banking Supervision and Regulation of the Board of Governors (the “Director”), and as to the Bank, the Commissioner.
(b) Bancorp and its nonbank subsidiaries shall not directly or indirectly take any other form of payment representing a reduction in capital from the Bank without the prior written approval of the Reserve Bank and the Commissioner.
(c) Bancorp and its nonbank subsidiaries shall not make any distributions of interest, principal, or other sums on subordinated debentures or trust preferred securities without the prior written approval of the Reserve Bank, the Director, and the Commissioner.
(d) All requests for prior written approval shall be received at least 30 days prior to the proposed dividend declaration date, proposed distribution on subordinated debentures, and required notice of deferral on trust preferred securities. All requests shall contain, at a minimum, current and projected information, as appropriate, on Bancorp’s capital, earnings, and cash flow; the Bank’s capital, asset quality, earnings, and ALLL needs; and identification of the sources of funds for the proposed payment or distribution. For requests to declare or pay dividends, Bancorp and the Bank, as appropriate, must also demonstrate that the requested declaration or payment of dividends is consistent with the Board of Governors’ Policy Statement on the Payment of Cash Dividends by State Member Banks and Bank Holding [Page Break]
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Companies, dated November 14, 1985 (Federal Reserve Regulatory Service, 4-877 at page 4-323), and Maryland Code Annotated Financial Institutions §§ 3-307 Cash Dividends, and 3-308 Stock Dividends.
Debt and Stock Redemption
18. (a) Bancorp and its nonbank subsidiaries shall not, directly or indirectly, incur, increase, or guarantee any debt without the prior written approval of the Reserve Bank and the Commissioner. All requests for prior written approval shall contain, but not be limited to, a statement regarding the purpose of the debt, the terms of the debt, and the planned source(s) for debt repayment, and an analysis of the cash flow resources available to meet such debt repayment.
(b) Bancorp shall not, directly or indirectly, purchase or redeem any shares of its stock without the prior written approval of the Reserve Bank. BSA/AML Compliance
19. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and the Commissioner an acceptable written plan to address the criticisms detailed in the Report of Examination, including but not limited to, the independent testing of the Bank’s compliance with all applicable federal laws, rules, and regulations relating to anti-money laundering (“AML”), including the Bank Secrecy Act (“BSA”) (31 U.S.C. § 5311 et seq.); the rules and regulations issued thereunder by the U.S. Department of the Treasury (31 C.F.R. Part 103); and the AML requirements of Regulation H of the Board of Governors (12 C.F.R. § 208.63).
Affiliate Transactions
20. (a) Bancorp and the Bank shall take all necessary actions to ensure that the Bank complies with sections 23A and 23B of the Federal Reserve Act (12 U.S.C. §§ 371c and [Page Break]
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371c-1) and Regulation W of the Board of Governors (12 C.F.R. Part 223) in all transactions between the Bank and its affiliates, including but not limited to Bancorp and its nonbank subsidiaries.
(b) Bank shall not violate, and Bancorp and its nonbank subsidiaries shall not cause the Bank to violate, any provision of sections 23A and 23B of the Federal Reserve Act or Regulation W of the Board of Governors. Compliance with Laws and Regulations
21. Bancorp and the Bank shall immediately take all necessary steps to correct all violations of law and regulation cited in the Report of Examination, including but not limited to Regulation O of the Board of Governors (12 C.F.R. Part 215). In addition, the board of directors of Bancorp and the Bank shall take the necessary steps to ensure the Bank’s future compliance with all applicable laws and regulations.
22. In appointing any new director or senior executive officer, or changing the responsibilities of any senior executive officer so that the officer would assume a different senior executive officer position, Bancorp and the Bank shall comply with the notice provisions of section 32 of the FDI Act (12 U.S.C. § 1831i) and Subpart H of Regulation Y of the Board of Governors.
23. Bancorp and the Bank shall comply with the restrictions on indemnification and severance payments of section 18(k) of the FDI Act (12 U.S.C. § 1828(k)) and Part 359 of the Federal Deposit Insurance Corporation’s regulations (12 C.F.R. Part 359).
Compliance with the Agreement
24. (a) Within 10 days of this Agreement, Bancorp’s and the Bank’s boards of directors shall appoint a joint committee (the “Compliance Committee”) to monitor and [Page Break]
Page 15
coordinate Bancorp’s and the Bank’s compliance with the provisions of this Agreement. The Compliance Committee shall consist of a majority of outside directors who are not executive officers of Bancorp and the Bank as defined in sections 215.2(e)(1) and 215.2(m)(1) of Regulation O of the Board of Governors (12 C.F.R. §§ 215.2(e)(1) and 215.2(m)(1)). The Compliance Committee shall meet at least monthly, keep detailed minutes of each meeting, and report its findings to Bancorp’s and the Bank’s boards of directors.
(b) Within 30 days after the end of each calendar quarter following the date of this Agreement, Bancorp and the Bank shall submit to the Reserve Bank and the Commissioner joint written progress reports detailing the form and manner of all actions taken to secure compliance with this Agreement and the results thereof. Approval and Implementation of Plans and Programs
25. (a) The Bank and, as applicable, Bancorp shall submit written plans and programs that are acceptable to the Reserve Bank and the Commissioner within the applicable time periods set forth in paragraphs 5, 6, 7, 8, 10(a), 10(b), 11, 12(c), 13, 15, and 19 of this Agreement. The Bank shall retain an independent consultant that is acceptable to the Reserve Bank and the Commissioner within the time period set forth in paragraph 3(a).
(b) Within 10 days of written approval by the Reserve Bank and the Commissioner, the Bank and, as applicable, Bancorp shall adopt the approved plans and programs. Upon adoption, the Bank and, as applicable, Bancorp shall promptly implement the approved plans and programs, and thereafter fully comply with them.
(c) During the term of this Agreement, the approved plans and programs shall not be amended or rescinded without the prior written approval of the Reserve Bank and the Commissioner. [Page Break]
Page 16
Communications
26. All communications regarding this Agreement shall be sent to:
(a) Eugene W. Johnson, Jr. Vice President
Federal Reserve Bank of Richmond P.O. Box 27622
Richmond, Virginia 23261-7622
(b) Teresa M. Louro
Assistant Commissioner for Bank Supervision
State of Maryland Commissioner of Financial Regulation
500 North Calvert Street
Room 402
Baltimore, Maryland 21202
(c) Mary Halsey President and CEO Cecil Bancorp, Inc. Cecil Bank
127 North Street Elkton, Maryland 21921
Miscellaneous
27. Notwithstanding any provision of this Agreement, the Reserve Bank and the Commissioner may, in their sole discretion, grant written extensions of time to Bancorp and the Bank to comply with any provision of this Agreement.
28. The provisions of this Agreement shall be binding upon Bancorp and the Bank and their institution-affiliated parties, in their capacities as such, and their successors and assigns.
29. Each provision of this Agreement shall remain effective and enforceable until stayed, modified, terminated, or suspended in writing by the Reserve Bank and the Commissioner.
30. The provisions of this Agreement shall not bar, estop, or otherwise prevent the Board of Governors, the Reserve Bank, the Commissioner or any other federal or state agency [Page Break]
Page 17
from taking any other action affecting Bancorp and the Bank or any of their current or former institution-affiliated parties and their successors and assigns.
31. Pursuant to section 50 of the FDI Act (12 U.S.C. § 1831aa), this Agreement is enforceable by the Board of Governors under section 8 of the FDI Act (12 U.S.C. § 1818).
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the 29th of June, 2010.
CECIL BANCORP, INC.
Signed by Charles F. Sposato Chairman
FEDERAL RESERVE BANK OF RICHMOND
Signed by Eugene W. Johnson, Jr. Vice President
CECIL BANK
Signed by Charles F. Sposato Chairman
STATE OF MARYLAND COMMISSIONER OF FINANCIAL REGULATION
Signed by Teresa M. Louro
Assistant Commissioner for Bank Supervision

cecilfederal.com

Security Fedederal Corp Aikens SC

Security Federal Corp. Aikens, SC was founded in 1922.  The company took $22MM in tax payer funded bailout money which they have decided to not pay back.  The Texas ratio is 40%. For some reason this place is not on the problem bank list.

The company has assets of $888M with only $66MM in equity.

The problem loan portfolio is inconceivable in relation to the equity position.  They have $32MM in loans past due at 30-90 days, with $22MM in non accrual, $14MM in OREO and $17MM in foreclosure. Wow, this is not good.

The thing is they don’t have $66MM in equity, $22MM is tax payer funding, this is not preferred stock as they are calling it, it is debt that they have chosen to not pay back.

The actual equity base is $44MM.

So they have $68MM in bad debt with $44MM in equity.

This place is insolvent.

Why aren’t they on the problem bank list?

The net income has averaged $2MM over the last 3 years, so how long will it take them to pay back taxpayer $22MM at this rate?

Fortunately, the executive compensation has not been effected by this debacle.

Timothy Simon made $379K

Curtis Verenes made $246K

Roy Lindberg made $203K

This so called “management” team got paid well for blowing through $22MM in tax payer money and destroying a 89 year financial institution.

Check out the website, they forgot to post information regarding investor relations.

I guess they didn’t realize they are public, not to hard to figure it out.

The only question is, why are they not on the problem bank list and why are they not shut down.

Why rob a bank when you can own one!

Citywide Bank Aurora, CO

Kevin Quinn in the middle is the CEO, these cats have some problem loans

Citywide Bank Aurora, CO was founded in 1969.  The company has a Texas ratio of 56%.

The company has assets of $966MM with equity of $73MM.

The problem loan portfolio consists of $3MM in loans 30-90 days past due with $33MM on non accrual.

These problem loans could consume significant levels of equity.

The company hasn’t put their annual report since FY09, in which they didn’t include an income statement.

The have forgotten to post their earnings since Q3 2010?

Homestreet Bank Seattle, WA

 

This is Mark Mason the CEO

He got his bank on the problem bank list management practices that were detrimental to the company, inadequate capital etc

Mark destroyed a 90 year bank by losing a $148MM in the last 2 years, these guy is savvy

Mark is sitting on $268MM in bad loans

Homestreet Bank Seattle, WA was founded in 1921.  The company entered into a cease and desist order with the FDIC allowing them to become a member of the problem bank list.  Among other things they were cited for were management practices that were detrimental to the company, inadequate capital and poor quality loans.  That probably explains why the Texas ratio is 158%.

They are going to have an IPO for $210MM?

Are you going to invest in a company on the problem bank?

That’s right, they have management practices that are detrimental to the company!

Who in their right mind want put money into this disaster.

They have forgotten to post their financial statements since 2010, they are to busy losing money.

The company has assets of $2.6B with equity of only $138MM.

The problem loan portfolio is off the charts.  They have $17MM in loans that are 30-90 days past due, with get this, $105MM over 90 days past due.  There is $146MM in non accrual and $187MM of OREO!

They have $268MM in bad loans with only $138MM in equity.

This place is insolvent, talk about a zombie bank.

Why aren’t they shut down?

They also do a stellar job at losing money.  Net income was ($43MM) in FY10 and ($105MM) in FY09.  Maybe that is why 90% of the equity got wiped out.

How come they don’t include an income statement in the financial statements, if guess you don’t need when you lose this kind of money.

This place is a disaster, the management team did a great job destroying a 90 year old institution. Do you have money in this bank?

The company is filing for an IPO? Hey Mark Mason, how dumb do you have to be to invest in a bank on the problem bank list with, that is insolvent.

Mark Mason remember the cease and desist order, they said that management was detrimental to the company, that is you.

Who would invest in this abortion?

This management team already wiped out one bank, are you going to give them money to do it again?

Is this your bank?

Monroe Bank & Trust Monroe MI

This is Doug Chaffin CEO, he got this bank on the problem bank list, for unsound banking practices

Doug makes $337k a year for bankrupting a 100 year old bank

oug also made a $116MM in bad loans and lost $46MM in the last 2 years, he is earning every penny

Monroe Bank & Trust Monroe MI. was founded in 1905.  They have entered into a consent agreement with the FDIC which has landed them on the problem bank list.  Among other things cited were unsound banking practices relating to  asset quality and capitalization.  That might explain why the Texas ratio is 92%.

The company has $1.2B in assets with only $73MM in equity.

The problem loan portfolio is astonishing.  They have $17MM in loans past due 30-90 days, with get this $99MM in non accrual!

They have $116MM in bad loans with only $73MM in equity.

This bank is insolvent, why aren’t they closed.

If they had to go mark to market on this portfolio, they would be wiped out.

They are pretty good at losing money also.  Net income was ($12M) in FY10 and ($34MM) in FY09.  That might explain how the equity position declined by 64%.

Fortunately, the executive pay was not effected.

Douglas Chaffin made $337K

John Skihski      made $190K

James Morr     made $181K

Scott Mckalvey  made $184K.

Not bad compensation for destroying a 106 year institution!

Luckily, they are going to fix this mess by having a prefered stock offering.  Who would invest in this thing?  How are they going to pay dividends on the prefered stock if they don’t make any money?

Republic Bank of Chicago Oak Brook Il.

Republic Bank of Chicago was founded in 1964.  The company has a Texas ratio of 75%, it is shocking that they aren’t on the problem bank list.

The company has assets of $1.4B with equity of $133MM.

The problem loan portfolio is huge.  There are $32MM in loans 30-90 days past due, check this out there are $111MM on non accrual.

There are $143MM in problem loans with only $133MM in equity.   The non accruals alone will wipe out the equity position

This bank is insolvent, why is it not on the problem loan list?

If they had to go mark to market on the portfolio, this place would be history!

The Palmetto Bank Laurens, SC

This Samuel Irwin the CEO, his bank is on the problem bank list

He makes $300k a year to make $90MM in bad loans

Don;t worry he also wiped out the stockholder, the stock is de listed

The Palmetto Bank Laurens, SC was founded in 1906.  The company has been included on the problem bank list based on inadequate management, capital and asset quality.  The Texas ratio is high at 79%.  The stock is delisted.

The company has assets of $1.3BB with only $107M equity.

The problem loan portfolio consists of $8MM in loans that are 30-90 days past due, non accruals are $82MM and $19MM in OREO.

This bank has $90MM in problem loans with only $107MM in equity.

This bank is insolvent.

Why isn’t this abortion closed down?

The management team is also adept at losing money.  The net income was ($59MM) in FY10 and ($40MM) in FY09.

They lost another$15MM in Q2 2011.

The executive compensation remains strong despite the dismal performance.

Lee Dixon    made    $269K

Samuel Erwin  made  $300K

Leon Patterson made $595.

That is good pay for a team that ran a 105 year old bank into the ground.

The are doing a reverse stock split? That is a good sign, that will help the deficient capitalization position.

Do you money here?

These clowns have already wiped out the stockholders.

BankAtlantic Fort Lauderdale Florida

BankAtlantic Fort Lauderdale, FLA has a Texas ratio of 95%.

The company has assets of $4.5B and equity of $119MM.

The problem loan portfolio is incredible.  They have $38MM in loans that are 30-90 days past due, get this they have $287 in loans on non accrual with $69MM in OREO.

This place has $325MM in bad debt with only $119MM in equity.

This bank is insolvent, why hasn’t it been shut down.

Take a look at the earning performance.  Net income was ($144MM) in FY10 and ($185MM) in FY09!

At least the executive compensation hasn’t suffered.

Alan Leven   made $822K

John Abdo    made $878K

Jareet Leven  made $700K

Pretty good pay for bankrupting this company.

So, these guys pay themselves $2.4MM to lose $329MM.  How do you get a job there?

They have filed for a $30MM stock offering, can’t wait to invest in this place.  Even $30MM can’t help this disaster.

Metropolitan Bank and Trust Chicago, Ill.

Metrpolitan Bank and Trust of Chicago Ill.  has accepted $68MM in tax payer funded bailout funds, which it has neglected to pay back.  The company is also on the problem bank list, as it has entered in a consent order for excessive CRE lending.  They were also cited for management ineffectiveness, poor asset quality and inadequate capital.  The Texas ratio is 52%.

The company has $322M in assets with $28MM in equity.

Net income was ($4MM) in FY10, $700K in FY09 and $3MM in FY08.

How are they ever going to pay back the tax payer $68MM? Also, how long is this going to take, eternity, would be my guess.

Florida Capital Bank Jacksonville, FLA

Florida Capital Bank Jacksonville, FLA was founded in 1985.  The company has entered into a formal agreement with the OCC for deficient CRE lending.  Maybe that is why the Texas ratio is 148%.

The company has $978MM in assets with $48MM in equity

The problem loan portfolio consists of $14MM in loans 30-90 days past due with $77MM on non accrual and $23MM in OREO.

So they have $91MM in bad loans with $48MM in equity.

This bank is insolvent, why haven’t they been shut down?

They might want to drop the word capital from their name, that is the one thing they don’t have.

Their earnings are not impressive either.  Net income was ($27MM) in FY10, ($10MM) in FY09 and ($16MM) in FY08.

Take a look at the website under investor relations, there is no information.

The one thing they do have is a lot (no pun intended) of vacant land for sale.

Great Florida Bank Miami Lakes, FLA

This is Medhi Ghomeshi, the CEO, he got this place on the problem bank list in record time

He gets paid $475k

That is dam good money for making $415MM bad loans and losing $106MM in the last 3 years

Why is this crook still working here?

Great Florida Bank Miami Lakes, FLA was founded in 2004.  They have entered into a consent agreement with the FDIC allowing them to become a member or the problem bank list and this place has problems.   They were cited for having weak asset quality, capital and management.  The Texas ratio is 175%.

The company has assets of $1.5B and equity of $70MM

The problem loan portfolio is phenomenal.  They have loans that are 30-90 days past due of $100MM and get this, $315MM on non accrual.

So they have $415MM in bad loans with $70MM in equity.

This bank is insolvent, why haven’t they been shut down.

Besides booking bad loans, the management team is adept at losing money.  Net income was ($41MM) in FY10, ($46MM) in FY09 and ($19MM) in FY08.

They were able to lose $106MM in 3 years, impressive.  As they wiped out 126% of the equity.

Thankfully, the executive compensation was not impacted.

Mehdi Ghomeski      made $475K

Luis Moncada            made $218K

Gary Laurush            made $218K

That is good pay for destroying this company in 3 years.

Medhi Ghomeski should walk the plank for bankrupting this place in record time.

Didn’t the FDIC put them on the problem bank list for having weak management?

The one thing they are great at is losing money.

Is this your bank, you are going down with the ship.

First Mariner Bank Baltimore Maryland

 

 

First Federal Bank of Elizabeth Town, Kentucky

That is Keith Johnson on the right

The bank is on the problem bank list and he makes $478k

First Federal Bank of Elizabeth Town Kentucky was founded in 1923.  The company has entered into a consent order with the regulators, whereby allowing them to become a member of the problem bank list.  The Texas ratio is very high at 56%.

The company has $1.1B in assets with equity of $71MM.

The problem loan portfolio consists of $16MM in loans that are 30-90 days past due, with non accrual of $56MM and OREO of $26MM.

The problem loans are astonishing and could easily wipe out the capital base, maybe that is why they are on the problem bank list.  They have $72MM in bad debt with only $71MM in capital.

This bank is insolvent, why has it not been closed down yet?

The net income was ($9MM) in FY10 and ($7MM) in FY09, it doesn’t appear as if they can earn themselves out of this mess.

Fortunately, the executives haven’t forgotten to pay themselves.

Keith Jonhson    made $478K

Gregory Schreaks made $230K

Charles Chaney made $193K

This group got paid well for running this 88 year old institution into the ground.

The market capitalization is $23MM or 25% of book, how is that for investor confidence.

First Community Bank Lexington South Carolina

This is Michael Crapps, he took $11MM in TAARP, which hasn’t been repaid

His bank is also on the problem bank list

The bank lost $30MM in the last 2 years, how are they going to pay back $11M?

Michael gets paid $399k to run this place into the ground

First Community Bank of Lexington, SC was founded in 19995.  The company took $11MM in tax payer funded bailout funds, which it has neglected to return.  The company has the dubious distinction of being on the problem bank list, as they entered into a formal agreement with the regulators on 4/10.  The Texas ratio is 20%.

The bank has assets of $599MM and stated equity of $40MM.

However, the $11MM in tax payer bailout funds is not equity it is debt, that the company has chosen not to repay.  The actual equity is probably $29MM.

The problem loans consist of $2MM in loans past due 30-90 days, with $6MM in non accrual and $6MM in OREO.

That is $14MM in problem loans backed up by $29MM in equity, not a great situation.

This place looks relatively insolvent.

Then bank had net income of $1MM in FY10, ($25MM) in FY09 and ($6MM) in FY08.

How are they going to repay the tax payer funded $11MM, it doesn’t look good!

At least the executive compensation wasn’t impacted.

Michael Crapps  made $339K to do it.

David Proctor       made $173

The stock has a market capitalization of $23MM, or 60% of book, that is Crapps.

Crapps is what Michael is doing to the tax payer, this piece of S$$$?t, takes $11MM from the tax payer and won’t pay it back

At last he gets paid $339K to do  steal tax payer money, that kind of money is not Crapp.

Do you have money in this piece of Crapps.

First Security Group Chattanooga Tennessee

This is Roger Holly, he ran this place into the ground

Why is Roger  bald?

This crook is sitting on $75,000,000 in bad loans

This criminal bankrupted this place in record time

First Security Group Chattanooga, TN was founded in 2000, it didn’t take this management team long to bankrupt this place.  The company took $31MM in tax payer funded bailout money, which it has neglected to repay.   As a matter of fact, it hasn’t even paid interest on this tax payer funded debt since 11/09.  That’s a pretty good deal, an interest free tax payer funded loan!   That may be the reason they are on the problem bank list.  They entered into a consent agreement with the OCC on 4/10.  The Texas ratio is 72%, making it, probably the worst bank in Tennessee.

The company has assets of $1.2B with equity of $90MM.

However, the $31MM in tax payer funded bailout money, is debt not equity.  The resulting equity position is probably $59MM.

In relation to the equity base, the problem loan situation is daunting.  They have $12MM in loans that are 30-90 days past due, with get this $54MM on non accrual and $15MM in OREO.

So, they have $81MM in bad loans backed by $59MM in equity.

This bank is bankrupt!

How come they haven’t been closed down yet?

Besides being astute at making bad loans, this team is adept at losing money.  Net income was ($46MM) in FY10 and ($35MM) in FY09.  It didn’t take these people long to wipe out their investors.

Based on this financial performance, how are they going to pay back the $32MM that they owe  the tax payer.  Pay back the tax payer, they can’t even make interest payments.

Fortunately, the executive compensation wasn’t impacted.

Roger Holley   made $830K

William Lush made  $217K

Lloyd Montgomery made $663K

These boys got paid pretty well for destroying this bank and stealing $32MM in tax payer funds.

Roger and William resigned. Maybe they should be incarcerated.

Cornerstone Community Bank Chattanooga, TN

Nathaniel Huges, his bank is on the problem bank list

Cornertstone Community Bank Chattanooga, TN was founded in 1955. They have entered into a consent agreement with the FDIC for among other things, unsafe banking, deficient underwriting and failure to identify problem loans.  This gave them the opportunity to be a member of the problem bank list.  That might be why the Texas ratio is 73%, wow.  It is looking like the stock is delisted, then again it has no value.

The company has assets of $441MM with equity of $25MM.

The problem loan portfolio consists of $9MM in loans that are 30-90 days past due, with $5MM on non accrual and $12MM in OREO.

So, they have $14MM in bad loans with $25MM in equity.

They are looking pretty insolvent.

Though with net income fo ($4MM) in FY10 and ($8MM) in FY09, that doesn’t help the problem.

That might explain why they haven’t had a news release since 10/10, or posted any SEC information on their website. Oh, that’s right they are delisted.

Their is good news for investors, on 9/10 they announced that they are offering $15MM in preferred stock!  One should load up on that stellar offering.

Their motto is “building strong financial foundations”.  Is wiping out all the equity building a strong financial foundation?

Is this your bank?

Country Bank Reehoboth Beach, Del

Country Bank Reehoboth Beach, Delaware was founded in 1990.  The company has entered into a consent order with the FDIC on 9/10 for general incompetence.  It appears as if the stock is delisted, not a good sign.  The Texas ratio is 36%, making it the fourth worst bank in Delaware.

The company has assets of $378MM with supposed equity of $35MM.

The company has problem loans of $2MM that are 30-90 days past due with $19MM in non accrual and $4MM in OREO.

They have $21MM in bad loans with $35MM in equity.

Shocking, they are on the problem bank list.

With net income of $792K in  FY10 and $975K in FY09, they are not going to earn themselves out of this tragedy.

Centrue Bank Streater,Ill

This is Thomas Daiber he took $32,000,000 in tax payer funded bailout money

He hasn’t even paid interest on it since 5/2009

This is Tom Daiber he took $32,000,000 of your money

Tom won’t pay interest on these funds but he pays himself $338,000

That is good pay for wiping out a 137 year old bank!

This is James Kerley he got paid $166,000 to bankrupt this place

Centrue Bank Streater, Ill was founded in 1874.  The company took $32MM in tax payer financed bailout out funding which, it has decided to not pay back,  Then again, they made only one dividend payment on these funds, back in 5/09.  I guess it is all right if a bank doesn’t pay interest on tax payer funded bailout money. They signed into a written agreement with the regulators on 12/09, for general incompetence.  Maybe the regulators should have detected these issues before they gave them $32MM, which they can’t pay back!  The Texas ratio is an incredible 72%.

The company has $1.1B in assets with a supposed $103MM in equity.

The equity position is actually $71MM when you back out the $32MM in unpaid tax payer funded money, this is debt not equity.  It needs to be paid back, but they are incapable of even paying the interest.

The bank has a staggering level of problem loans.  There are $10MM in loans 30-90 days past due, with, get this, $68MM in loans on non accrual and $25MM in OREO.

So hold on, they have $78MM in bad debt with only $71MM in equity?

This place is bankrupt!

Not only can this management team make bad loans, they are adept at losing money.  Net income was ($67MM) in FY10 and ($37MM) in FY09.

So how are they going to pay back the tax payer $32MM?

These guys were able to wipe out 50% of the equity in 3 years, now that is a good effort.

Rest assured, the executive compensation was not effected from this debacle.

Thomas Daiber   made  $338K

Kurt Stevensen made $191K

James Kerley made     $166K

Roger Durbin    made   $160K

These guys get paid well for running a 137 year company into the ground and losing a $100MM.  Image what they would have gotten paid if they mad money?

They have forgotten to post any financial reports on their website.

Maybe because they are busy losing money.

Then again, the market capitalization is $4MM or 4% of book.  I guess when the ROE is (28%), investors aren’t attracted to this disaster.

CBC National Bank Fernandia Beach FLA

CBC National Bank Fernandia Beach FLA was founded in 2000, it sure didn’t take them long to bankrupt this place.  They entered into a formal agreement with the regulators for general incompetent management.  The Texas ratio is 81%.

The company has assets of $431MM with$38MM in equity.

The company has significant levels of problem assets.  There are $2MM of loans that are 30-90 days past due with $31MM on non accrual and $14MM in OREO.

There $33MM in past due loans with only $38MM in equity.

This bank is insolvent?

Why haven’t they been closed down.

Take a look of the real estate they have for sale.  They look more like a real estate company than a bank.  It appears as if they have some attractive vacant land in FLA!

Broadway Federal Bank Los Angeles, CA

Take a look at the new site

capital2risk.com

This is Paul Hudson, his bank is on the problem bank list

Paul racked up $66MM in problem loans

Broadway Federal Bank Los Angeles, CA was founded in 1947.  The company entered into a cease and desist order with the OTS for, check this out, aiding and abetting in unsafe lending, resulting in deteriorating asset quality, inadequate asset quality and inadequate oversight.   The  Texas ratio is 67%.

The bank has $484MM in assets with equity of $32MM.

The problem loan portfolio is staggering.  There are $27MM in loans 30-90 days past due, with $39MM on non accrual!

That equates to $66MM in problem loans with only $32MM in equity.

This place is bankrupt.

Why hasn’t this company been shut down, they are insolvent.

With net income of $777K in FY10, they aren’t going to earn their way out of this disaster.

Bay Lake Bank Sturgeon Bay WI

This is Robert Cere, the CEO his bank is on the problem bank list

Robert makes $292k a year to run a 115 year old bank into the ground

BayLake Bank Sturgeon Bay, WI was founded in 1896.  The bank has entered into a written agreement with the FDIC for  problems in commercial real estate lending.  The Texas ratio is 29%.

The company has $1B in assets with $70MM in equity.

The problem loan portfolio consists of $10MM in loans past due 30-90 days, $10MM on non accrual and $15MM in OREO.

This level of bad debt could significantly erode the remaining capital base.

With net income of $1MM in FY10 and $4MM in FY09, they can’t earn their way out of this disaster.

At least the executive pay hasn’t been hindered.

Robert Cere made $292K

Theresa Rosebgarten made $175K

Michael Gibson made  156K

Not bad pay for destroying a 115 year old institution!

BNC National Corp. Phoenix, AZ

BNC National Corp. Phoenix, AZ was founded in 2001. The company has entered into a formal agreement with the OCC excessive CRE lending.  The Texas ratio is 41%.  It appears as if the stock is delisted.

The company has assets of $745MM with $59MM in supposed equity.

The problem loan portfolio consists $34MM on non accrual and $12MM in OREO.

That’s $34MM on non accrual backed by $59MM in equity.

This place is technically insolvent!

Atlantic Coast Fedredal Bank Waycross, Georgia

Atlantic Coast Federal Corp. Waycross, Georgia.  The company entered into a supervisory agreement with the OTS on 9/09, giving them the distinction of being a member of the problem bank club, dubious at best.

They have assets of $828MM with equity of $44MM

Net “income” was ($14MM) in FY10 and ($29MM) in FY09

Fortunately, the executive compensation was not compromised.

Jay Sidhu   made $275K

Robert Lalisa made $331K

Thomas Wagers  made $211K

Advantage Bank Cambridge Ohio

This is James Huston the CEO

James got this place on the problem bank list for “detrimental management practices”

He got paid $614k to wipe out a 120 year bank and lose $25MM in the last 2 years

Don’t worry the salary includes country club dues $7,900

This is one fat cat bankster. How many chins does this guy have?

Advantage Bank Cambridge Ohio was founded in 1891.  The company is on the problem bank list and has entered into a cease and desist agreement on 7/31/09.  Among adverse practices cited were management policies that were detrimental to the bank, inadequate capital, excessive delinquent loans and get this “hazardous lending practices? “Advantage Bank” how about disadvantage bank. The Texas ratio is 65%

This is Troy Greenwalt Senior Lender

Troy is sitting on $38,000,000 in bad loans

Troy likes to perform hazardous lending , that’s an advantage

Troy gets paid good money to make all these bad loans

The company has $816MM in assets and $47MM in equity

Problem loans consist of $7MM in loans past due 30-90 days with $40MM in non accrual and $10MM in OREO.

Net income was ($14MM) in FY10 and ($11MM) in FY09.

So this company has $47MM in bad debt supported by $47MM in equity

This place is insolvent, why has it not been shut down?

Have no fear, the executive compensation has not been impacted.

James Huston made $614K

David Caldwell made $185K

Tony Greenwalt made $176K

So James Huston destroyed a 120 year institution and was paid $614K to wipe this place out, not a bad gig.

It must be cool to engage in “hazardous lending practices” and get paid $600K a year, that is and advantage!

It looks like the regulators are keeping an eye on things.

Do you have money in this disaster?

Call James Houston, it is not bad to charge $614k to lose $25MM.

He wiped out 53% of the equity in only 3 years.

FEDERAL DEPOSIT INSURANCE CORPORATION
WASHINGTON, D.C.
AND
STATE OF OHIO
DEPARTMENT OF COMMERCE
DIVISION OF FINANCIAL INSTITUTIONS
)
In the Matter of
ADVANTAGE BANK CAMBRIDGE, OHIO
(INSURED STATE NONMEMBER BANK)
)
ORDER TO CEASE AND DESIST
FDIC-09-195b
)
)
) )
Advantage Bank, Cambridge, Ohio, (“Bank”), having been advised of its right to a NOTICE OF CHARGES AND OF HEARING detailing the unsafe or unsound banking practices alleged to have been committed by the Bank, and of its right to a hearing on the charges under section 8(b) of the Federal Deposit Insurance Act (“Act”), 12 U.S.C. § 1818(b), and under sections 1121.32 and 1121.38 of the Ohio Revised Code, Ohio Rev. Code. Ann. §§ 1121.32 and 1121.38 (Anderson) regarding hearings before the Division of Financial Institutions for the State of Ohio (“Division”), and having waived those rights, entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER TO CEASE AND DESIST (“CONSENT AGREEMENT”) with representatives of the Federal Deposit Insurance Corporation (“FDIC”) and the Division, dated
July 29, 2009, whereby, solely for the purpose of this proceeding and without admitting or denying the charges of unsafe or unsound banking practices, the Bank consented to the issuance of an ORDER TO CEASE AND DESIST (“ORDER”) by the FDIC and the Division.
The FDIC and the Division considered the matter and determined that they had reason to believe that the Bank had engaged in unsafe or unsound banking. The FDIC and the Division, therefore, accepted the CONSENT AGREEMENT and issued the following:
IT IS HEREBY ORDERED, that the Bank, its institution-affiliated parties, as that term is defined in section 3(u) of the Act, 12 U.S.C. § 1813(u), regulated persons, as that term is defined in Ohio Revised Code section 1121.01, and its successors and assigns, cease and desist from the following unsafe or unsound banking practices:
A. Operating with management whose policies and practices are detrimental to the Bank and jeopardize the safety of its deposits.
B. Operating with a board of directors which has failed to provide adequate supervision over and direction to the management of the Bank to prevent unsafe and unsound banking practices.
2
C. Operating with an inadequate level of capital protection for the kind and quality of assets held.
D. Operating in a manner which has resulted in loss to the institution.
E. Engaging in hazardous lending and lax collection practices.
F. Operating with an excessive level of adversely classified assets, delinquent loans, and nonaccrual loans.
G. Operating with inadequate liquidity in light of the Bank’s asset and liability mix.
IT IS FURTHER ORDERED, that the Bank, its institution-affiliated parties, and its successors and assigns, take affirmative action as follows:
MANAGEMENT
1. (a) Within 120 days from the effective date of this ORDER, the Bank shall have completed a written analysis and assessment of the Bank’s management and staffing needs and developed a plan to have and retain qualified management with proven ability in managing a bank of comparable size and complexity (“Management Plan”). Within 30 days from the effective date of this ORDER, the board of directors (“Board”) shall engage an experienced independent advisor to provide
3
assistance in conducting the analysis and assessment, and development of the Management Plan.
(b) The Management Plan shall include, at a minimum:
(i) Identification of both the type and number of officer positions needed to properly manage and supervise the affairs of the Bank;
(ii) Identification and establishment of such committee(s) comprised of Bank directors (“board committees”) as are needed to provide guidance and oversight to active management;
(iii) Evaluation of all Bank officers to determine whether these individuals possess the ability, experience and other qualifications required to perform present and anticipated duties; and
(iv) A plan to reorganize and/or train existing personnel and/or recruit and hire any additional or replacement personnel so that the Bank will have management and staff with the requisite ability, experience and other qualifications to fill those officer or staff member
4
positions identified by the analysis and assessment required by this paragraph of the ORDER.
(c) The Management Plan shall be submitted to the Regional Director of the FDIC (“Regional Director”) and the Division for review and comment upon its completion. Within 30 days of receipt of any comments from the Regional Director and the Division, the Bank shall adopt any recommended changes and the Board shall approve the Management Plan, and record its approval in the minutes of the meeting of the Board. Thereafter, the Bank, its directors and officers shall implement and follow the Management Plan.
(d) During the life of this ORDER, prior to the addition of any individual to the Board or the employment of any individual as a senior executive officer, the Bank shall request and obtain the Division’s written approval. For purposes of this ORDER, “senior executive officer” is defined as in section 32 of the Act (“section 32”), 12 U.S.C. § 1831(i), and section 303.101(b) of the FDIC Rules and Regulations, 12 C.F.R. § 303.101(b).
BOARD PARTICIPATION
2. (a) As of the effective date of this ORDER, the Board shall increase its participation in the affairs of the Bank, assuming full responsibility for the approval of sound policies
5
and objectives and for the supervision of all of the Bank’s activities, consistent with the role and expertise commonly expected for directors of Banks of comparable size. This participation shall include meetings to be held no less frequently than monthly at which, at a minimum, the following areas shall be reviewed and approved: reports of income and expenses; new, overdue, renewal, charged off, and recovered loans; the adequacy of the Bank’s ALLL; investment activity; liquidity; asset/liability management; adoption or modification of operating policies; individual committee reports; audit reports; internal control reviews, including management’s responses; and compliance with this ORDER. Board minutes shall document these reviews and approvals, including the names of any dissenting directors.
(b) Within 180 days from this Order, the Bank shall increase its Board by the addition of two (2) independent directors. Potential Board member names shall be submitted for approval to both the Regional Director and the Division.
(c) Within 30 days from the effective date of this ORDER, the Bank’s Board shall have in place a program that will provide for monitoring of the Bank’s compliance with this ORDER.
CAPITAL
3. (a) Within 180 days from the effective date of this ORDER, the Bank shall have and maintain its level of Tier 1
6
capital as a percentage of its total assets (“capital ratio”) at a minimum of 8.0 percent. For purposes of this ORDER, Tier 1 capital and total assets shall be calculated in accordance with Part 325 of the FDIC Rules and Regulations (“Part 325”), 12 C.F.R. Part 325.
(b) If, while this ORDER is in effect, the Bank increases capital by the sale of new securities, the Board of the Bank shall adopt and implement a plan for the sale of such additional securities, including the voting of any shares owned or proxies held by or controlled by them in favor of said plan. Should the implementation of the plan involve public distribution of Bank securities, including a distribution limited only to the Bank’s existing shareholders, the Bank shall prepare detailed offering materials fully describing the securities being offered, including an accurate description of the financial condition of the Bank and the circumstances giving rise to the offering, and other material disclosures necessary to comply with Federal securities laws. Prior to the implementation of the plan and, in any event, not less than 20 days prior to the dissemination of such materials, the materials used in the sale of the securities shall be submitted to the FDIC Registration and Disclosure Section, 550 17th Street, N.W., Washington, D.C. 20429 and to the Ohio Department of Commerce, Division of Financial Institutions, 77 South High Street, 21st
7
Floor, Columbus, Ohio 43215-6120, for their review. Any changes requested to be made in the materials by the FDIC or the Division shall be made prior to their dissemination.
(c) In complying with the provisions of this paragraph, the Bank shall provide to any subscriber and/or purchaser of Bank securities written notice of any planned or existing development or other changes which are materially different from the information reflected in any offering materials used in connection with the sale of Bank securities. The written notice required by this paragraph shall be furnished within 10 calendar days of the date any material development or change was planned or occurred, whichever is earlier, and shall be furnished to every purchaser and/or subscriber of the Bank’s original offering materials.
DIVIDEND RESTRICTION
4. As of the effective date of this ORDER, the Bank shall not declare or pay any cash dividend without the prior written consent of the Regional Director and the Division.
PROHIBITION OF ADDITIONAL LOANS TO CLASSIFIED BORROWERS
5. (a) As of the effective date of this ORDER, the Bank shall not extend, directly or indirectly, any additional credit to, or for the benefit of, any borrower who is already obligated in any manner to the Bank on any extensions of credit that have been charged off the books of the Bank, either in whole or in
8
part, or classified “Loss” in the Report of Examination dated as of December 8, 2008 (“ Joint Report”), so long as such credit remains uncollected.
(b) As of the effective date of this ORDER, the Bank shall not extend, directly or indirectly, any additional credit to, or for the benefit of, any borrower whose loan or other credit has been classified “Substandard”, “Doubtful”, or is listed for Special Mention in the “Joint Report”, and is uncollected unless the Bank’s Board has adopted, prior to such extension of credit, a detailed written statement giving the reasons why such extension of credit is in the best interest of the Bank. A copy of the statement shall be signed by each Director, and incorporated in the minutes of the applicable Board meeting. A copy of the statement shall be placed in the appropriate loan file.
REDUCTION OF CLASSIFIED ASSETS
6. (a) Within 90 days from the effective date of this ORDER, the Bank shall provide a written plan to reduce the Bank’s risk position in each asset in excess of $250,000 which is delinquent or classified “Substandard” or “Doubtful” in the “Joint Report”, subsequent reports of examination, external loan review, or by management in the internal loan review process. The plan shall include, but not be limited to, provisions which:
9
(i) Prohibit an extension of credit for the payment of interest, unless the Board provides, in writing, a detailed explanation of why the extension is in the best interest of the Bank;
(ii) Provide for review of the current financial condition of each delinquent or classified borrower, including a review of borrower cash flow and collateral value;
(iii) Delineate areas of responsibility for loan officers;
(iv) Establish dollar levels to which the Bank shall reduce delinquencies and classified assets within 6 and 12 months from the effective date of this ORDER; and
(v) Provide for the submission of monthly written progress reports to the Bank’s Board for review and notation in minutes of the meetings of the Board.
(b) As used in this paragraph, “reduce” means to: (1) collect; (2) charge off; (3) sell; or (4) improve the quality of such assets so as to warrant removal of any adverse classification by the FDIC and the Division.
10
(c) The plan required by this paragraph shall be submitted to the Regional Director and the Division for review and comment. Within 30 days of receipt of any written comments from the Regional Director or the Division the Bank shall incorporate any changes required by the Regional Director or the Division and thereafter adopt, implement, and adhere to the plan.
LOSS CHARGE-OFF
7. As of the effective date of this Order the Bank shall charge off from its books and records any loan classified “Loss” in the Joint Report.
LIQUIDITY PLAN
8. (a) Within 45 days of the effective date of this ORDER, the Bank shall review its written liquidity and contingency funding plan (“Liquidity Plan”) and revise as necessary. The Liquidity Plan shall identify sources of liquid assets to meet the Bank’s funding needs over time horizons of one month, two months, and three months. At a minimum, the Liquidity Plan shall be prepared in conformance with the Liquidity Risk Management Guidance found at FIL-84-2008 and include provisions to address the issues identified on pages 12 through 15 of the Joint Report.
(b) The plan required by this paragraph shall be submitted to the Regional Director and the Division for review
11
and comment. Within 30 days of receipt of any written comments from the Regional Director or the Division the Bank shall incorporate any changes required by the Regional Director or the Division and thereafter adopt, implement, and adhere to the plan.
RISK MANAGEMENT PROGRAMS
9. (a) Within 90 days from the effective date of this ORDER, the Bank shall submit to the Regional Director and the Division a written plan to strengthen and improve management of the overall risk exposures of the Bank. The plan shall, at a minimum, address:
(i) Enhanced policies and procedures designed to identify, assess, manage, and monitor risk exposures, including but not limited to the areas of credit, liquidity, market, and operational risks;
(ii) Measures to strengthen board and senior management oversight of risk management policies and procedures; improved measurement and monitoring of risk exposure to changes in operational activities and business functions, including new services and products, as well as market conditions;
12
(iii) Enhanced policies and procedures for loan modifications, improved appraisal review function and improvements in the quality and timeliness of loan reviews; and
(iv) Management information systems and reporting procedures designed to ensure that managers, directors, and committees receive timely and accurate reports necessary to effectively manage risks, monitor compliance with laws, rules and regulations, and correct any weaknesses.
(b) Within 30 days from the receipt of any written comments from the Regional Director or the Division, and after adoption of any recommended changes, the Board shall approve the written plan, which approval shall be recorded in the minutes of the Board meeting. Thereafter, the Bank shall implement and follow the written plan.
CONCENTRATIONS OF CREDIT
10. Within 60 days from the effective date of this ORDER, the Bank shall formulate adopt and implement a written plan to manage each of the concentrations of credit identified in the “Joint Report” in a safe and sound manner. At a minimum the plan must provide for written procedures for the ongoing measurement and monitoring of the concentrations of credit, and
13
a limit on concentrations commensurate with the Bank’s capital position, safe and sound banking practices, and the overall risk profile of the Bank.
STRATEGIC PLAN
11. (a) Within 90 days from the effective date of this ORDER, the Bank shall formulate a realistic, comprehensive, written strategic plan. The plan required by this paragraph shall contain an assessment of the Bank’s current financial condition and market area, and a description of the operating assumptions that form the basis for major projected income and expense components. The written strategic plan shall address, at a minimum:
(i) Strategies for pricing policies and asset/liability management; and
(ii) Financial goals, including pro forma statements for asset growth, capital adequacy, and earnings.
(b) The plan required by this paragraph shall be submitted to the Regional Director and the Division for review and comment. Within 30 days of receipt of any written comments from the Regional Director or the Division the Bank shall incorporate any changes required by the Regional Director or the Division and thereafter adopt, implement, and adhere to the plan.
14
(c) Within 30 days from the end of each calendar quarter following the adoption of the strategic plan contemplated by paragraph (b) above, the Bank’s Board shall evaluate the Bank’s actual performance in relation to the strategic plan required by this paragraph and record the results of the evaluation, and any actions taken by the Bank, in the minutes of the Board meeting at which such evaluation is undertaken.
(d) The Board shall review the strategic plan required by this ORDER 30 days prior to the end of each calendar year during which this ORDER is in effect and submit proposed changes to the Regional Director and the Division. Within 30 days of the receipt of any written comments from the Regional Director and the Division, the Bank shall incorporate such changes and approve the revised plan, which approval shall be recorded in the minutes of a Board meeting, and the Bank shall implement and adhere to the revised plan.
PROFIT PLAN AND BUDGET
12. (a) Within 90 days from the effective date of this ORDER, the Bank shall provide a written profit plan and a realistic, comprehensive budget for all categories of income and expense for calendar years 2009 and 2010. The plans required by this paragraph shall contain formal goals and strategies, consistent with sound banking practices, to reduce discretionary
15
expenses and to improve the Bank’s overall earnings, and shall contain a description of the operating assumptions that form the basis for major projected income and expense components.
(b) The written profit plan shall address, at a minimum:
(i) Realistic and comprehensive budgets;
(ii) A budget review process to monitor the income and expenses of the Bank to compare actual figures with budgetary projections;
(iii) Identification of major areas in, and means by which, earnings will be improved; and
(iv) A description of the operating assumptions that form the basis for and adequately support major projected income and expense components.
(c) Within 45 days from the end of each calendar quarter following adoption of the profit plans and budgets required by this paragraph, the Bank’s Board shall evaluate the Bank’s actual performance in relation to the plan and budget, record the results of the evaluation, and note any actions taken by the Bank in the minutes of the Board meeting at which such evaluation is undertaken.
16
(d) A written profit plan and budget shall be prepared for each calendar year for which this ORDER is in effect.
(e) The plans and budgets required by this paragraph shall be submitted to the Regional Director and the Division for review and comment. Within 30 days of receipt of any comments from the Regional Director or the Division the Bank shall incorporate any changes required by the Regional Director or the Division and thereafter adopt, implement, and adhere to the plan and budget.
NOTIFICATION TO SHAREHOLDERS
13. Following the effective date of this ORDER, the Bank shall send to its shareholder a copy of this ORDER: (1) in conjunction with the Bank’s next shareholder communication; or (2) in conjunction with its notice or proxy statement preceding the Bank’s next shareholder meeting.
PROGRESS REPORTS
14. Within 30 days from the end of each calendar quarter following the effective date of this ORDER, the Bank shall furnish to the Regional Director and the Division written progress reports signed by each member of the Bank’s Board, detailing the actions taken to secure compliance with the ORDER and the results thereof.
17
The effective date of this ORDER shall be 10 days after the date of its issuance by the FDIC and the Division.
The provisions of this ORDER shall be binding upon the Bank, its institution-affiliated parties, and any successors and assigns thereof.
The provisions of this ORDER shall remain effective and enforceable except to the extent that, and until such time as, any provision has been modified, terminated, suspended, or set aside by the FDIC and the Division.
Pursuant to delegated authority.
Dated: ____July 31st, _2009.
Federal Deposit Insurance State of Ohio
Corporation Division of Financial Institutions
__________/s/__________________ ___________/s/_____________
M. Anthony Lowe John B. Reardon
Regional Director Superintendent
Chicago Regional Office
and /s/
Kenneth N. Koher
Deputy Superintendent for Banks
18

Texas Capital Bank Dallas Texas

This is Keith Cargill, head of lending, he took $75MM in tax payer funded bailout money

Then again, they haven’t even paid interest on this money since 3/10

Keith makes $576k a year

He has racked up $196MM in bad loans, no wonder he has no hair

Texas Capital Bank Dallas, Texas was founded in 1997.  The company accepted $75MM in tax payer bailout funds which they have chosen not to repay.  Then again the stopped paying interest on these funds since 3/10.

The company has assets of $5B with equity of $504MM

The problem loan situation is staggering.  The problem loan portfolio consist of $46MM that are past due 30-90 days, with get this $147MM on non accrual and $22MM in OREO

If you back out the $75MM from the equity position as this is debt not equity, the equity position declines to $432MM.

That results in $196MM in problem loans supported by $432MM in equity, that is a problem.

How come this company is not on the problem bank list?

This crew might want to take Capital out of their name because that is the one thing they don’t have.

The net income was $37MM in FY10 and $18MM in FY09

How come these funds were not used to repay the tax payer debt?

At least the executive pay was not impacted.

Peter Bartholow  made $596K

Keith Cargill        made $576K

John Hughes     made  $471K

These guys are paid well for making bad  loans.

Peter Bartholow paid himself $596k, while he stole $75MM in tax payer money which he won’t pay back. This criminal hasn’t even paid a dividend payment to the tax payer since  3/10.

Peter Bartholow is a criminal, who stole your money and should be in jail.

They should hire Neil Bush, he is adept at wiping out banks and not getting caught.

Pulaski Bank St. Louis Missouri

This guy as CEO can’t be worse than Gary Douglas

Here is Gary Douglas

Gary took $32,000,000 in tax payer money

Gary makes $536,000 a year

Gary is sitting on $60,000,000 in bad loans

Gary has serious problems

 

 

Pulaski Bank St. Louis Missouri was founded in 1922.  It accepted $32MM in taxpayer bailout funding, which it has neglected to pay back.  The Texas ratio is very high at 44%.

The bank has assets of $1.4B with equity of $112M.

However, the $32MM in taxpayer funding is debt not equity.  The actual equity position is $80MM.

Thee companies problem loan portfolio consists of $16MM in loans that are 30-90 days past due, with $56MM on non accrual.

They have $72MM in problem loans supported by $80MM in equity!  This place has serious problems.

How come they haven’t been shut down?

Better yet, why aren’t they on the problem bank list?

The company had net income of $1MM in FY10, with $4MM in FY09.  Based on this financial performance, how long will it take them to repay $32MM, eternity sounds about right.

At least the executives are well paid.

Gary Douglas made $536K

Thomas Reeves  made $325K

Brian Bjorkman made $360K

This team got paid well for wiping out an 89 years institution!

Gary Douglas, where the hell is the $32MM you stole from the tax payer? Check you pocket.

This bank survived the Great Depression but it couldn’t survive Gary Douglas.

Gary you stole $32MM in tax payer money, don’t pay it back, run this place into the ground and pay yourself $536k . Who is better than you?

Vist Financial Group Wyomissing, PA

This is Robert Davis the CEO, he took $25MM of your money

Net income was $2MM in FY10 and ($1MM) in FY09, at this rate how long will it take Robert to pay you back $25, eternity

Robert made $409l last year

Vist Financial Group Wyomissing, PA was founded in 1891.  They accepted $25MM in tax payer funded bailout funds, which they have failed to repay.

The company has assets of $1B and equity of $117MM.

If you back out the $25MM of tax payer funding, as it is debt not equity, the actual equity position is $92MM.

The company has $9MM in loans 30-90 days past due, with $47MM on non accrual.

The means they have $56MM in problem loans support by $92MM in equity.  The equity could be easily compromised.

The company made $2MM in FY10 and ($1MM) in FY09.

How long do you think it will take to pay back $25MM based on this financial performance? How does forever sound.

Fortunately, the executives remained well compensated for this dismal performance.

Robert Davis      made   $409K

Edward Barrett    made $293K

Loius DeCesare   made $229K

Michael  Herr     made $309k

The First Bancorp Damariscotta, ME

This is Daniel Daigneault, the CEO, he took $25MM of your tax payer money, which he can’t pay back

Maybe thats why he has no hair

Daniel made $524k last year, he is not starving

The First Bancorp Damariscotta, ME was founded in 1864.  The company took $25MM in tax payer funded bailout money, which it hasn’t paid back.

The company has assets of $1.3B with equity of $121MM.

However, if you back out the $25MM in funding from the equity position as this is debt not equity, the resulting equity is $95MM.

The company has $5MM in loans past due 30-90 day, with $25MM on non accrual.

The company had net income of $10MM in FY10 and $11 in FY09.

Not bad, why haven’t they paid back the tax payer?

At least the executive salaries weren’t impacted.

Daniel Daigneault   made  $524K

Tony McKim             made $207K

Charles Wooton       made $203

Intervest Banshares NY, NY

This is Lowell Danster, the CEO, he took $25MM in bailout money, which he hasn’t repaid

Lowell hasn’t even paid interest on this money since 12/10

Lowell is also on the problem bank list for negligent commercial real estate lending

This bank lost $54MM last year are they going to pay back $25MM

Lowell made $1.5MM last year, while he racked up $88MM in bad  loans

Intervest Bancshares NY NY was founded in 1999.   The bank accepted $25MM  in tax payer bailout funds that it failed to repay.  As a matter of fact, they haven’t paid interest on these funds since 11/09.  They entered into a formal agreement with the OCC on 12/10, for excessive commercial real estate lending.  Maybe the OCC should have  looked into this place before they were given $25MM in tax payer funding!

The company has assets of $2B with supposed equity of $185MM.

If you back out tax payer funding from the equity base as it is debt not equity, the equity base declines to $160MM.

The company has $21MM in loans past due 30-90 days past due, with $67MM on non accrual and $27MM  of OREO.

They have $88MM in bad loans supported by $160MM in equity.

How come this place hasn’t been shut down yet?

Net income was ($54MM) in FY10 and $1.5MM in FY09.  Based on this financial performance, how long will it take to pay back the tax payer $25MM, how about eternity.

At least the executive compensation was not impacted.

Lowell Danster  made  $1.5MM

John Avonio     made $274K

Stephen Helman  made $326K

That is pretty good pay for running this bank into the ground.

The market capitalization is $65MM or 35% of book.

.

Peoples Bancorp Newton, NC

Peoples Bancorp of Newton, NC was founded in 1912.  The bank accepted $22MM in government bailout funds, which it has failed to repay.  The Texas ratio is high at 41%.

The bank has assets of $1B with equity of $97MM.

However, $22MM of the $97MM is tax payer funded bailout funds which is debt not equity.  The actual equity is $75MM.

The company has $26MM in loans that are past due 30-90 days, with $65MM on non accrual.

That is $91MM in problem loans supported by $75MM in equity.  That is not a good ratio.

This bank is probably technically insolvent, why are they not on the problem bank list? Maybe North Carolina already reached it’s quota.

The company had net income of $47K in FY10  and $1.6MM in FY09, how long is it going to take to pay back the $22MM, how does eternity sound.

Luckily, the executive compensation was not compromised.

Tony Wolfe  made $595K

John Beaman      made $168K

Joseph Lampron  made $168K.

The company has a market capitalization of $36MM  or 37% of book.

First M & F Bank Kosiuskoo, MS

First M & F Bank Kosiuskoo, MS was founded in 1890.  The company accepted  tax payer funded bailout money of $30MM, which it has neglected to repay.  The Texas ratio is high at 41%.

The company has assets of $1B with supposed equity of $133MM.

However, the $30MM in bailout funding is debt that supposedly has to be paid back, not equity.  This loan was just used to prop up the equity base.  If you back this out, the equity position is $103MM.

The problem loan portfolio consists of $11MM in loans past due 30-90 days, with $44MM in non accrual and $31MM in OREO.

They have $55MM in problem loans supported by $1.3MM in equity, not a great proposition.

The bank had net income of $15MM in FY10 and ($61MM) in FY09.

It is unclear on how they will pay the $30MM in the tax payer bailout funds.

The executive compensation remained intact.

Hugh Potts made $368K

John Copeland made $197K

Jeffrey Lacey earned $203K.

Decent compensation considering they can’t pay the $30MM back

Farmers Capital Bank Corporation Frankfort KY

This Lloyd Hilliard, the CEO, his bank owes the tax payer $30,000,000

Why is Lloyd smirking? Because he makes $343,000 for bringing a 150 year bank to it’s knees

Lloyd you have $35,000,000 in bad loans, how are you going to pay back $30,000,000 you took from the tax payer

Lloyd also wiped out the stockholders, the P/E is 56? That is a great investment

Lloyd net income in FY11 was $842,000, at this rate, how long will it take you to pay, $30,000,000, how does eternity sound!

Take look at all the junk real estate for sale, this place likes to finance vacant land

Net income was $5MM in FY10 and ($40MM) in FY09, how is he going to pay back $30,000,00

Lloyd makes $343k a year

Farmers Capital Bank Corp. Frankfort, KY was founded in 1850.  The company accepted $30MM in tax payer funded bailout money, which it has neglected to return.  The Texas ratio is 38%.

The company has assets of $750MM and equity of $67MM

The problem loan portfolio has $5MM in loans past due 30-90 days, with $26MM on non accrual.

Though the stated equity position is $67MM, when you back out the $30MM of tax payer funding from the equity base, the actual equity is $37MM.

That leaves only $37MM supporting $31MM in problem loans.  This is not a good ratio, the remaining equity base could be quickly be negated.

Make this guy CEO, can’t be worse than Lloyd

This place could be technically insolvent.

Net income was $5MM in FY10 and ($40MM) in FY09.  It is difficult to see how the company is going to be able to pay the $30MM back.

Luckily, the executive compensation was not compromised.

Llod Hillard made   $343K

Ben Brown   made    $185K

Rickey  Harp  made   $197K

Michael Schomich made $169M

Pretty good pay for bringing a 161 year old institution to it’s knees.

The market capitalization is $39MM, 58% of book.

• United Bank
• Citizens Bank
• Farmers Bank
• Farmers Capital

Property For Sale The listed properties are for sale by Farmers Capital Bank Corporation and/or its affiliates. They are listed in alphabetical order by Kentucky county and then by other states for browsing ease. If you have interest in a particular property, please contact the person listed on that property and not the bank. Anderson County Commercial Property 222 East Woodford Street, Lawrenceburg KY Description: commercial building Price: $125,000 Contact: Greg Burton or Rick Harp, 502-227-1600 Residential Property 1268 Stoneridge Road, Rock Creek Estates, Lawrenceburg KY Description: single family residence and 3 lots-listed below Price: $249,000 Contact: Harold Reynolds, Birdwhistell Realty 502-839-3456 Residential Property Lots 52, 54, and 55 Rock Creek Estates, Lawrenceburg KY Description: residential lot #52 Contact: Harold Reynolds, Birdwhistell Realty 502-839-3456 Residential Property Description: residential lot #54 Contact: Harold Reynolds, Birdwhistell Realty 502-839-3456 Residential Property Description: residential lot #55 Contact: Harold Reynolds, Birdwhistell Realty 502-839-3456 Residential Property 2490 Glensboro Road, Lawrenceburg KY Description: single family residence Price: call for information Contact: Chris Thompson, 502-839-2600 1012 Hungry Run Road, Lawrenceburg KY Description: raw, undeveloped land Price: $28,500 Contact: Cindy Crutcher, 502-839-9822 No photo available The Links, Lawrenceburg KY Description: 4.88 acres development site Price: call for information Contact: Greg Burton or Rick Harp, 502-227-1600 Residential Property 1022 Bishop Street, Lawrenceburg KY Description: single family residence Price: $29,900 Contact: Conway & Lloyd, Elizabeth Lloyd 502-859-1707 Residential Property 1112 Alton Road, Lawrenceburg KY Description: single family residence Price: $82,900 Contact: Conway & Lloyd, Elizabeth Lloyd 502-859-1707 Residential Property 1128 Alton Road, Lawrenceburg KY Description: single family residence Price: $79,900 Contact: Conway & Lloyd, Elizabeth Lloyd 502-859-1707 Residential Property 1132 Alton Road, Lawrenceburg KY Description: single family residence Price: $89,900 Contact: Conway & Lloyd, Elizabeth Lloyd 502-859-1707 Residential Property 2000 Leslee Way, Lawrenceburg KY Description: single family residence Price: $157,900 Contact: Century 21, Jackie Nickell, 502-859-2125 No photo available Residential Property 2109 Lesliee Way, Lawrenceburg KY Description: residential lot Price: call for information Contact: Chris Thompson, 502-839-2600 No photo available Residential Property Silverleaf Subdivision, Lawrenceburg KY Description: 16 single family residential lots Price: call for information Contact: Chris Thompson or Randy Leet, 502-839-2600 Residential Property 203 Factory Street, Lawrenceburg KY Description: single family residence Price: call for information Contact: Emily Catron 126 Cardinal Lane, Lawrenceburg KY Description: apartment house Price: call for information Contact: Emily Catron Bullitt County Residential Property Wildwoods Subdivision, Mt. Washington KY Description: Lot #8 – 0.70 acre residential lot Price: $33,500 Contact: any First Citizens Bank lender 502-957-7550 or 270-769-2301 Residential Property Wildwoods Subdivision, Mt. Washington KY Description: Lot #19 – 0.37 acre residential lot Price: $33,500 Contact: any First Citizens Bank lender 502-957-7550 or 270-769-2301 Residential Property Wildwoods Subdivision, Mt. Washington KY Description: Lot #23 – 0.50 acre residential lot Price: $33,500 Contact: any First Citizens Bank lender 502-957-7550 or 270-769-2301 Residential Property Wildwoods Subdivision, Mt. Washington KY Description: Lot #77 – 0.58 acre residential Price: $33,500 Contact: any First Citizens Bank lender 502-957-7550 or 270-769-2301 Highway 44, Mt. Washington KY Description: development tract Price: call for information Contact: John Pendergrass, 502-227-1668 Fayette County Commercial Property 505 Wellington Way, Lexington KY Description: lot, building site Price: $523,400 Contact: Greg Erwin 859‐552‐5416 Commercial Property 519 Wellington Way, Lexington KY Description: lot, building site Price: $541,080 Contact: Greg Erwin 859‐552‐5416 Commercial Property 531 Wellington Way, Lexington KY Description: lot, building site Price: $657,470 Contact: Greg Erwin 859‐552‐5416 Commercial Property 527 Wellington Way, Lexington KY Description: lot, building site Price: $718,960 Contact: Greg Erwin 859‐552‐5416 Commercial Property 535 Wellington Way, Suite 160, Lexington KY Description: condo Price: $301,200 Contact: Greg Erwin 859‐552‐5416 Commercial Property 535 Wellington Way, Suite 280, Lexington KY Description: condo Price: $313,700 Contact: Greg Erwin 859‐552‐5416 Residential Property 1053 Kavenaugh Lane, Lexington KY Description: residential lot Price: $31,000 Contact: Keller Williams Bluegrass Realty, Kitty Lane 859-260-1444 Commercial Property 1795 Alysheba, Lexington KY Description: 3 office condos Price: $340,000 Contact: The Gibson Co., Greg Erwin 859-552-5416 Commercial Property 4249 Reserve Road, Fayette County Description: clubhouse Price: call for information Contact: Zach Moore, 502-227-1600 Franklin County Residential Property 324 Capital Avenue, Frankfort KY Description: single family residence Price: call for information Contact: Greg Burton or Rick Harp, 502-227-1600 Commercial Property Cardwell Lane, Frankfort, KY Description: 3 Condos, 8 development acres Price: $925,000 Contact: Jamie Schrader 859-321-5660 Commercial Property 115 Collision, Frankfort KY Description: 8,700 Sq.Ft. industrial building Price: $379,080 Contact: Greg Burton 502-227-1619 Commercial Property 117 Collision, Frankfort KY Description: 9,500 Sq.Ft. industrial building Price: $439,000 Contact: Greg Burton 502-227-1619 Commercial Property US 421, Frankfort KY Description: 9 acres commercial property Price: $1,575,000 Contact: Fred Sutterlin 502-365-3840 Commercial Property US 421, Frankfort KY Description: 7 1-acres commercial property tracts Price: $3,039,000 Contact: Fred Sutterlin 502-365-3840 Commercial Property Kendallwood Subdivision, Frankfort KY Description: 17 single family lots plus 6.975 acres Price: call for information Contact: Greg Burton or Rick Harp, 502-227-1600 Residential Property 361 Harrodswood, Frankfort KY Description: single family residence Price: $184,500 Contact: Gary Adkinson, Coldwell Banker 502-227-2275 Lot 15 The Reserve, Frankfort KY Description: sngle family residental lot Price: call for information Contact: Greg Burton or Rick Harp, 502-227-1600 Commercial Property 571 East Main Street, Frankfort KY Description: shopping center Price: $379,000 Contact: Trautner Real Estate, 502-223-3200 Commercial Property 614 – 624 Commanche Trail, Frankfort KY Description: shopping center Price: $389,500 Contact: Gary Adkinson, Coldwell Banker 502-227-2275 Commercial Property US 421, Copperleaf Development, Frankfort KY Description: 7 commercial lots Price: call for information Contact: Fred Sutterlin, PRG 502-365-3840 Commercial Property Pebblebook Subdivision, Frankfort KY Description: development acreage Price: call for information Contact: Greg Burton or Rick Harp, 502-227-1600 Residential Property 699 Cline Street, Frankfort KY Description: single family residence Price: $59,900 Contact: Bonnie Fint, Century 21 502-223-1600 Residential Property 115 Brentlawn, Frankfort KY Description: single family residence Price: call for information Contact: Greg Burton or Rick Harp, 502-227-1600 Commercial Property 974 River Bend Road, Frankfort KY Description: commercial building Price: $825,000 Contact: Greg Burton or Rick Harp, 502-227-1600 Residential Property 211 – 213 West Todd Street, Frankfort KY Description: duplex Price: call for information Contact: Emily Catron, 502-227-1600 Residential Property 211 – 213 New Street, Frankfort KY Description: duplex Price: call for information Contact: Emily Catron, 502-227-1600 No photo available Commercial Property 212 – 214 New Street, Frankfort KY Description: lot Price: call for information Contact: Emily Catron, 502-227-1600 Residential Property 216 – 218 New Street, Frankfort KY Description: duplex Price: call for information Contact: Emily Catron, 502-227-1600 Residential Property 1 – 3 Dogwood, Frankfort KY Description: duplex Price: call for information Contact: Emily Catron, 502-227-1600 Residential Property 5 – 7 Dogwood, Frankfort KY Description: duplex Price: call for information Contact: Emily Catron, 502-227-1600 Residential Property 118 Compton, Frankfort KY Description: 4 plex Price: call for information Contact: Emily Catron, 502-227-1600 No photo available 306 Murrell, Frankfort KY Description: single family lot Price: call for information Contact: Emily Catron, 502-227-1600 Residential Property 216 Conway Street, Frankfort KY Description: single family residence Price: call for information Contact: Emily Catron, 502-227-1600 Residential Property 133 Wallace Avenue, Frankfort KY Description: single family residence Price: call for information Contact: Emily Catron, 502-227-1600 Residential Property 311 – 311 1/2 Holmes Street, Frankfort KY Description: duplex Price: call for information Contact: Emily Catron, 502-227-1600 Residential Property 350 Holmes Street, Frankfort KY Description: single family residence Price: call for information Contact: Emily Catron, 502-227-1600 Residential Property 357 Wallace Avenue, Frankfort KY Description: duplex Price: call for information Contact: Emily Catron, 502-227-1600 Residential Property 748 – 750 Hillcrest, Frankfort KY Description: duplex Price: call for information Contact: Emily Catron, 502-227-1600 Residential Property 101 Arbor View, Frankfort KY Description: condominium Price: $189,900 Contact: Century 21, Danny Willis 502-226-2121 Residential Property 103 Arbor View, Frankfort KY Description: condominium Price: $199,900 Contact: Century 21, Danny Willis 502-226-2121 Residential Property 105 Arbor Court, Frankfort KY Description: condominium Price: $199,900 Contact: Century 21, Danny Willis 502-226-2121 No photo available Willowcrest Subdivision, Frankfort KY Description: 16 lots Price: call for information Contact: Greg Burton or Rick Harp, 502-227-1600 No photo available 116 Muirfield Court, Frankfort KY (lot 4) Description: residential lot Price: call for information Contact: Greg Burton or Rick Harp, 502-227-1600 Garrard County Commercial Property Cobblestone Trace, Lancaster KY Description: 186 acres Price: $999,000 Contact: Danny Ayers 859‐792‐4025 Jefferson County Commercial Property Brookshire, Section Four, Rocky Mountain Drive, Louisville KY – Photo 1 Description: 10.81 acre undeveloped site approved for 30-lot subdivision. Zoned R-4, single-family. Water, gas, electric and sewers available Price: $344,000 Contact: any First Citizens Bank lender 502-957-7550 or 270-769-2301 Brookshire, Section Four, Rocky Mountain Drive, Louisville KY – Photo 2 Brookshire, Section Four, Rocky Mountain Drive, Louisville KY – Photo 3 Residential Property 10704 Vine Hill Drive, Louisville KY Description: 1,533-square foot home with basement in Silver Oaks, conveniently located near Taylorsville Road Price: $199,900 Contact: any First Citizens Bank lender 502-957-7550 or 270-769-2301 Flatrock Road, Louisville KY Description: residential development Price: call for information Contact: Greg Burton or Rick Harp, 502-227-1600 Jessamine County Residential Property 105 Denton Court, Nicholasville KY Description: Single Family Residence Price: $135,000 Contact: Jonah Mitchell 859‐887‐8870 Residential Property 501 West Brown Street, Nicholasville KY Description: Single Family Residence Price: $116,500 Contact: Pat Pinkston 859‐227‐1209 Residential Property 118 Floyd Court, Nicholasville KY Description: Townhome Price: $52,500 Contact: Pat Pinkston 859‐227‐1209 Residential Property 120 Floyd Court, Nicholasville KY Description: Townhome Price: $52,500 Contact: Pat Pinkston 859‐227‐1209 Residential Property 122 Floyd Court, Nicholasville KY Description: Townhome Price: $52,500 Contact: Pat Pinkston 859‐227‐1209 No photo available Residential Property Lot 17 ‐ 709 and Lot 18 ‐ 713 Homestead, Nicholasville KY Description: 2 Lots, Residential Price: $55,000 Contact: Jonah Mitchell 859‐887‐8870 No photo available Residential Property 105, 109, 125, 129, 133 Janice Drive and 228, 236 Lynnwood Drive, Nicholasville KY Description: 7 Lots, Residential Price: $25,900 each / $181,300 total Contact: Ron Griffie 859‐266‐0451 Commercial Property Lots 1‐10 Forest Reserve on Tates Creek, Nicholasville KY Description: 10 Lots, Residenial Price: $1,200,000 Contact: Mike Schornick 502-863-2393 No photo available Highbridge Road, Wilmore KY Description: 5 acres Price: $49,900 Contact: Pat Pinkston 859‐227‐1209 Lincoln County Commercial Property US 150 (east of US 27), Tract 1B, Stanford KY Description: commercial acreage Price: call for information Contact: Chris Thompson, 502-839-2600 Mercer County Residential Property 488 Highway 33 South Lot 3, Burgin KY Description: Single Family Residence Price: $145,000 Contact: Danny Ayers 859‐792‐4025 No photo available 488 Highway 33, Burgin KY Description: 30.731 acres Price: $160,000 Contact: Danny Ayers 859‐792‐4025 No photo available Residential Property Highway 33 South Lot 5, Burgin KY Description: Lot, Residential Price: $20,000 Contact: Danny Ayers 859‐792‐402 No photo available Residential Property Ashley Camp Road, Harrodsburg KY Description: 2 Lots, Residential Price: $14,000 Contact: Mike Schornick 502-863-2393 Stone Oak Estates, Harrodsburg KY Description: single family residential lot Price: $30,000 Contact: Ann McDonald, Coldwell Banker, 502-227-2275 Residential Property 5696 Louisville Road, Salvisa KY Description: single family residence Price: $39,900 Contact: Elizabeth Lloyd, Conway & Lloyd, 502-859-1707 Scott County No photo available Commercial Property Lot 1 Demand Court, Georgetown KY Description: Lot Commercial Price: $134,000 Contact: Jamie Schrader 859‐321‐5660 Commercial Property Unit 10, The Colony, Georgetown KY Description: 117 Lots, Residential Price: $2,100,000 Contact: Jamie Schrader 859‐321‐5660 Commercial Property Unit 11, The Colony, Georgetown KY Description: 40 Lots, Residential Price: $800,000 Contact: Mike Schornick 502-863-2393 Commercial Property Unit 11B, The Colony,Georgetown KY Description: 2 Acre Tract Price: $135,000 Contact: Jamie Schrader 859‐321‐5660 No photo available Residential Property 111 – 113 Elizabeth Street, Georgetown KY Description: duplex Price: call for information Contact: Jonathon Mays, 502-227-1600 No photo available Residential Property 115 – 117 Elizabeth Street, Georgetown KY Description: duplex Price: call for information Contact: Jonathon Mays, 502-227-1600 Woodford County Commercial Property The Shire II, Versailles KY Description: 72 condominium pads Price: $1,130,000 Contact: Jamie Schrader 859‐321‐5660 No photo available Commercial Property 180 Spring Road, Versailles KY Description: 6 town home lots Price: $76,000 Contact: Mike Schornick 502-863-2393 Hancock County, Indiana Commercial Property Stone Ridge, 1364 North County Road 200 West, Greenfield, Indiana Description: 33 Lots, Residential and 52 undeveloped acres Price: See Realtor Contact: Roy Wilson 317‐409‐5857 Commercial Property Waters Edge, 6451 West County Road 200 North, Greenfield, Indiana Description: 167 undeveloped acres Price: $2,750,000 Contact: Bill Flanary 317‐639‐0463 Campbell County, Tennessee No photo available Commercial Property The Neighborhood at the Willows Parcels 1‐6, 8‐9, 11‐14, 122 and 122.01, Caryville, Tennessee Description: Lots,Residenial/Tracts Price: Call for information Contact: Mike Schornick 502-863-2393

© Farmers Capital Bank Corporation 2012

Hawthorn Bank Lee’s Summit, MO

Why is this guy smiling? Because he took $30,000,000 of you money

And got paid $397,000 to do it

Is $398,000 a good salary in Lee’s Summit Missouri?

This is David Turner the CEO, he took $30MM in TAARP, which he owes the tax payer

David lost $42MM for the bank over the last 2 years, how is going to pay back $30MM? He can’t

David made $398k last year, not bad for having $54MM in bad loans

Hawthorn Bank Lee’s Summit, Missouri was founded in 1911.  The company took $30MM in tax payer funded bailout money, which it has neglected to pay back.  The company has a Texas ratio of 38%.

The company has assets of $1B with equity of $79MM.

The problem loan portfolio consists of $3MM in loans past due 30-90 days, with $51MM on non accrual and $16MM in OREO.

The company has stated equity of $79MM however, the $30MM in tax payer funding is actually debt not prefered stock.  The resulting equity position is closer to $39MM.  The company has $54MM in problem loans supported by $39MM in equity.

This bank could be technically insolvent.

How come they are not on the problem bank list?  This place appears to have problems.

The net income was ($11MM) in FY10 and ($31MM) in FY09.

How are they going to pay back the tax payer the $30MM they borrowed?  They probably can’t any time soon, as the equity position is so compromised.

It is a good thing the executive pay hasn’t been impacted.

David Turner       made $398K

James Smith       made   $478K

Richard Rose     made     $191K

That is good pay for losing $42MM.

The market capitalization is $37MM or 47% of book.

Home Federal Savings Rochester, MN

 

This is BradleyKrehbiel, he took $26MM in bailout money

Bradley hasn’t even paid interest on this money since 10/10

Bradley is on the problem bank list for “insider activities”?

Bradley lost $52MM for the company in the last 3 years

He makes $342k, that is good pay for wiping out 60% of the banks capitalization

Home Federal Savings Rochester, MN was founded in 1934.  The company took $26MM in tax payer funded bailout money, which it has made no effort to repay.  Then again, they haven’t made an interest payment since 10/10.   Maybe that is why they are on the problem bank list.  They entered into a cease and desist order from the OTC, for get this, insider activities.  These guys are savvy.

Assets were $880MM with supposed equity of $68MM.

The problem loan portfolio consisted of $4MM in loans 30-90 days past due, with $93MM in non accrual.

The supposed equity position is $68MM however, the $26MM in bailout is actually debt not equity, the actual equity is probably $42MM.

Hold on, they have $97MM in bad loans with only $42MM in equity.

That would make the Texas ratio 200%.

This place is insolvent.

On top of making bad loans, this place is adept at losing money.  Net income was ($30MM) in FY10, ($12MM) in FY09 and ($10MM) in FY08.

Don’t worry the executive’s still got paid well for running a 77 year firm into the ground.

Bradley Krehbiel made $376K

Jon Eberle made $231K

Susan Kolling  made $154K

This group got paid pretty for wiping out 60% of the company’s capitalization.

The company has a market capitalization of 12% of book, impressive, you can’t even give this thing away.

Have come this bank is not closed down?

Panhandle State Bank Saindpoint Idaho

This is Curt Hecher, he stole$27,000,000 in tax payer money which he can’t pay back

Curt hasn’t even paid interest on your money since 11/2009, Curt it is F$$cking 201

This criminal lost $56,000,000 in the last 2 years

How is this crook going to pay the tax payer back the $27,000,000 he stole?

Curt racked up $68,000,000 in bad loans

This is Curt Hecher, the CEO, he took $27MM of you money, which he can’t pay back

Curt hasn’t even paid interest on these funds since 11/09

This fat bald slob makes $272,000 to wipe out to wipe out 60% of the company’s

  One would think, someone that makes $272,000 a year, could afford a decent looking wife

Curt, you lost $56MM for the back in the last 2 years, how are you to pay back $27MM?  You can’t

Curt made $272k, while racking up $68MM in problem loans

Here is Curt, he stole $27,000,000 of your money, he won’t pay interest on it

Curt makes $272,000 a year

Curt can go water skiing but he won’t pay interest on the money he stole

He also wiped out the shareholders, this place is selling for 5% of book

Panhandle State Bank Saindpoint, ID was founded in 1981.  The company took $27MM in government bailout funding none of which has been back.  Better yet, they haven’t even paid interest on these funds since 11/09.

The company had $1B in assets with $79MM in equity.

The problem loan portfolio consists of $2MM in loans 30-90 days past due, with $26MM on non accrual and $40MM in OREO.

The stated equity is $79MM however, the $27MM in tax payer funding is actually debt.  So actual equity is probably $52MM.  That is not a lot of equity to support $68MM in problem loans.

This bank could be technically insolvent, why aren’t they on the problem bank list?

This place is bankrupt.

Net income was ($33MM) in FY10 and ($23MM) in FY09.

How are they going to pay back the $27MM they owe the tax payer, they can’t.  As a matter of fact, they can’t even pay the interest.

At least the executive compensation wasn’t effected!

The guy on the left is John Nagel, he is credit office John made $148,000  to make $68,000,000 in junk loans

The criminal next to him is Doug Wright CFO, he gets paid $185,000 to lose $56,000,000, Doug has forgotten to pay interest on the money he stole for 4 years, Doug wiped out 60% of the stockholders equity

The crook third to the right is Jerry Smith, the President he makes $253,000 while he stole $68,000

Curt Hecher her  made $272K

Jerry Smith    made $253K

Douglas Wright made $185K

John Nagel       made $148M

That is pretty good pay for wiping 60% of the company’s equity.

The market capitalization is $3MM, 5% of book.  It looks like the investors have as much faith in this place as the government should have in getting repaid.

Do you have money in this bank?

Panhandle? The tax payer for $27MM?

Curt can you a least pay interest on these tax payer funds from your $272k salary.

Does Curt look like he is worried about paying back the $27,000,000

This is the tax payer looking for $27,000,000 Curt stole

This management team can Panhandle, they get paid a $1MM to lose $56 MM.

Colony Bancorp Fitzgerald, GA

Colony Bancorp Fitzgerald, GA was founded in 1976. The company $28MM in government bailout funding which it neglected to pay back.

The company has assets of $1.2B with equity of $92MM.

The problem loan portfolio consists of $16MM in loans 30-90 days past due, with $42MM on non accrual and OREO of $20MM.

The stated equity is $92MM however, when you back out the government bailout loan, the actual equity is $64MM.

That means they have $64MM in equity supporting $58 in problem loans, that is not a good ratio.  That makes the actual Texas ratio closer to 100%.

Why are they not on the problem bank list? Probably because Georgia has already filled it’s quota.

Net income was ($928K) in FY10 and ($20MM) in FY09, with these strained earnings, how are they going to pay back the tax payer’s $28MM?

It looks like they can’t.

Luckily, the executive compensation remained intact.

Mr. Ross   made $260K

Terry Hester   made $180K

Walter Patten made $174K

Royal Bancorp of Pennsylvania Narberth, PA

This is Robert Tabas, the CEO, he took $30MM of tax payer money which he can’t pay back

Robert hasn’t even paid interst on these funds since 2/09, he has only made one interest payment

Robert has lost a $103MM for the bank over the last 3 years, who is going to pay back $30MM?  He can’t

Robert makes $373k to run this place into the ground

Royal Bancorp of Pennsylvania Narbeth, PA was founded in 1963.  The company took $30MM in tax payer bailout, funding which it has decided not to pay back.  As a matter of fact, they haven’t paid interest on these funds since 2/09, they took the bailout money and only made one interest payment.  Not a bad deal, does that mean their customers don’t have to pay interest to them.  The Texas ratio is 99%.  The one thing royal about this bancorp is that they are royally screwed.

The company has loans of $988M with $80MM in supposed equity.

The problem loan portfolio consists of $9MM in loans 30-90 days past due, with $65MM on non accraul and $32MM of OREO.

The government bailout funds are actually debt not equity, these funds need to be paid back, though they have made not effort to do so.  The actual equity position is probably$50MM.  That is $50MM supporting $74MM in bad loans!

This bank is probably technically insolvent,  why are they not on the problem bank list?

Net income was ($26MM) in FY10, ($39MM) in FY09 and ($38MM) in FY08.

Based on the recent financial performance, how do they plan on paying the tax payer back the $30MM?  Then again, they can’t even pay the dividends!

Rest assured, the executive compensation wasn’t impacted, despite the fact they wiped out $100MM in earnings.

Robert Tabias     made $373K

James McSwiggin   made $642K

Murray Stempal made $324K

Not bad pay, yet wait, they can’t even pay interest on the bailout funds?

Sounds like the tax payer is getting royally screwed.

First United Corp Oakland Maryland

William Grant took $30MM in tax payer funding and hasn’t even paid interest on this since 8/10

He gets paid $294k to run this place into the ground

This bank survived the Great Depression, will it survive William Grant?

First United Corp Oakland, MD was founded in 1900.  The company took $30MM in tax payer funded bailout money, none of which has been repaid.  They also have chosen to not pay interest payments since 8/10.  The Texas ratio is 37%.

The company has $1.6B in assets and $95MM in equity.

The problem debt portfolio consist of $17MM in loans 30-90 days past due, with $52MM on non accrual and $18MM in OREO.

The stated equity is $95MM however, there is $14MM in intangibles resulting in equity of $80MM.  The $30MM in tax payer bailout funds is actually debt not equity, the results in equity of $50MM.

As the company has $69MM in problem loans, supported by only $50MM in equity, this bank could be technically insolvent.

Net income was ($11MM) in FY10 and ($12MM) in FY09.

How long will it take to pay back the tax payers $30MM?

At least the executive compensation was not hindered.

William Grant made $294K

Steven Lantz   made $343K

Eugene Helbig made  $246K

Robert Kurtz made $472K

Firstbank Corp Alma, Michigan

Firstbank Corp. Alma, Michigan was founded in 1881.  The company took $33MM in tax payer funded bailout money, that it has decided to not pay back.

The company has $257MM in assets with $148MM in equity.

The company had net income of $2MM in FY10, $1MM in FY09.

Based on this financial performance, how long will it take to pay back the $33MM, 15-30 years!

However, the executive compensation was strong.

Thomas Sullivan   made $314K

Douglas Ouelllete   made $216K

Daniel Grenier         made $190K

Bank of North Carolina Thomasville, NC

 

This is Swope Montgomery, on the left the CEO, he took $31MM of your money

Swope makes $644k includes a country club membership, not bad pay for making $412MM in bad loans

Bank of North Carolina, Thomasville, NC was founded in 1991.  The company took $31MM in tax payer funded bailout money, which it has neglected to repay.  The Texas ratio is 31%.

The company has assets of $2B and supposed equity of $152MM

The problem loan portfolio consists of $56MM in loans 30-90 days past due, get this there are $317MM on non accrual with $39MM in OREO.

Though the stated equity is $152MM, there is $26MM in goodwill, resulting in equity of $126MM.  The $31MM in tax payer funding is actually debt not equity.  This results in actual equity of $95MM.

So, the bank has $412MM in bad loans supported by only $95MM in equity.

This bank is insolvent

How come this company is not on the problem bank list?

The company had net income of $8MM in FY10, $7MM in FY09 and $6MM in FY08.

How come they haven’t paid back any of the tax payer bailout?

I guess they have to make sure the executives country club fees are paid first.

Luckily, the executive compensation has not been impacted.

Swope Montgomery     made $622K

Richard Callicutt           made $437K

David Spencer                made   $371K

The compensation includes cell phones, auto expenses and country club fees.

The market capitalization is $64MM or 42% of book.

This guy  and was able to “Swope” in and take $31MM in tax payer money, none of which he paid back.

At least he was able to pay himself $622K, for taking  for taking tax payer money with no effort to pay it back.

This guy is called Swope for a reason, he will Swope the tax payer out of anything they will give him.

Hopefully, you don’t have money in this disaster because this thing is bankrupt, then again so it the FDIC

Swope how about paying back tax payer.

This guy is legal.

Why rob a bank when you can own one.

Do you have money in this place?

I would swope down and withdraw it

Check out the website, they have Regis on the front page, that is pathetic, not as pathetic as Swope’s video of himself

Parkvale Financial Corp. Monroeville, PA

Parkvale Financial Corp. Monroeville, PA was founded in 1943.  The company took $31MM in tax payer funded bailout funds.

The company has $1.7B in assets with $118MM in equity.

The stated equity is $118MM, however there is $25MM in goodwill resulting in equity of $93MM.  The $31MM in tax payer bailout funds is actually debt not equity.   As a result, the equity position declines to $62MM.

The bank has $62MM in equity supporting $53MM in problem loans.

This company appears to be technically insolvent, how come the are not on the problem bank list?

The executive pay hasn’t been impacted.

Robert McCarthy    made $406K

Gilbert Riazzi             made $130K

Thomas Odek            made $110K

The company has a market capitalization of $62MM or 53% of book.

Citizens Commerce National Bank Versailles Kentucky

Take a look at the new site

capital2risk.com 

They sole $6,000,000 in you tax payer money which they won’t pay back

These clowns have $27,000,000 in bad loans and only $8,000,000 in equity, they are bankrupt!

Hold on, they essentially have no equity, $6,000,000 of equity is money they stole from the tax payer

William Parks is the fat slob on the left and John Soper is the clown on the right

These criminals haven’t even paid interest on the money they stole from you 

These A$$holes run the worst bank in Cuntucky?

Don’t worry, the dopes wiped out the stockholders, the stock is de listed

Hey you fat pigs where the F$$k is the $6,000,000 you stole

Do these fat cat banksters look hungry? These two are eating well off the tax payer 

Why are these boys holding hands?

The efficiency ratio is 114% these dopes lose money just opening up the doors

Check out the ROE (53%) these boys are savvy

I guess these two clowns when the overhead is higher than the NI there might be a problem, holding hands won’t solve it

Citizens Commerce National Bank Versailles, Kentucky was founded in 1996.  This company took $6MM in tax payer funding and has made no effort to pay these funds back.  They also have not paid interest payments on this debt.

The Texas ratio is 254%, making this place probably the worst bank in Kentucky.

For some reason this place isn’t on the problem bank list?

The company has $297MM in assets and $6MM in equity.

Problem loans are $45MM.

Hold on, there are $6MM in inequity, with $45MM in bad loans?

Here are some of the other culprits

Why are these people smiling? They stole you $$$

This bank is insolvent, why aren’t they on the problem bank list Sheila?

The stock appears to be delisted and they have forgotten to post any financial information since FY09.

This place has forgotten to put their financial statement on their website since 2009, must be busy making bad loans

This place is a disaster.

Look at these dopes, they should be drinking BEAM

Is this your bank?

Thank the F$$in Lord you got the beam!

They stole $6MM in tax payer money and don’t even pay interest on it.

They might want to drop Citizens from their name, how about Criminals Commerce?

Centennial Bank Home Bankshares Conway, Ark

                                                                                                                                                     John Allison

There is Randy Sims, he took $50MM in bailout money which he won’t pay back

Randy made $963k last year including a country club membership and a car allowance

Randy was well paid for having $378MM in problem loans

He is a fat cat bankster with 3 chins

Bob Birch on the right is smiling because he makes $432k

John Allsion makes $1MM, the bank for trips on his personal plan, he made 19 trips last year, that is good use of the tax payers $50MM

Centennial Bank Conway, AK was founded in 1903.  The company took $50MM in tax payer funded bailout money, which it hasn’t paid back.

The company has $3.B in assets with $454MM in supposed equity.

The problem loans are astonishing.  The company has $97MM in loans 30-90 days past due, get this there are $204MM that are over 90 days past due. I am thinking that these are probably non accrual loans!.  Well non accrual, is $44MM with $33MM in OREO.

The stated equity position of $454MM however, the $50MM in tax payer funding is actually debt not equity.   this makes the equity position $404MM.

Get this, they have $404MM in equity to support $378MM problem loans!

This place is insolvent!

How come they are not on the problem bank list?

The company had net income of $17MM in FY10, $26MM in FY09 and $10MM in FY08.

So they can’t pay back the $50 in tax payer funded bailout funds?

Rest assured, the executive compensation wasn’t hindered.

Randall Simms     made $963K

Randy Mayor        made $505K

John Allsion         made $1MM

Robert Birch       made $432K

Don’t worry this compensation included country club fees and car allowances.

John Allison’s compensation included fees for trips on his personal plane which is owned by his company Capital Buyers.  He made 19 trips.

So, John Allison has this bank pay for his personal plane, but they can’t pay back the tax payer the $50MM?

Freemont Bancorporation Freemont California

This is Brad Anderson the CEO, he owes the tax payer $35MM

He racked up $80MM in problem loans

Freemont Bancorporation Freemont, CA was founded in 1969.  The company took $35MM in tax payer funded bailout money, that they have chosen not to repay.

The company has $2.4B in assets with $215MM in equity.

Problem loans consist of $3MM in 30-90 loans past due, with $60MM in non accrual and $18MM in OREO.

When the $35MM in tax payer debt is backed out of the equity position, the actual equity is $180MM.  With $81MM in problem loans the equity position could be significantly compromised.

The company had net income of $30MM in FY10 and $16MM in FY09.

Why hasn’t this bank paid back the tax payer funding?

Enterprise Bank & Trust Clayton Missouri

This is Peter Benoist, took $31MM in TAARP money

Net income was $6MM in FY10 and ($47MM) in FY09, how are they going to pay back $31MM? Your guess is as good as mine

Peter made $534k last year

Enterprise Bank & Trust Clayton, Missouri was founded in 1988.  The company took $31MM in tax payer bailout funding which it decided to not repay.  The Texas ratio is 27%.  Fortunately, the executives got paid.

The company has assets of $2.7M with $229MM in equity.

The problem loan portfolio consist of $2MM in loans 30-90 days past due, with $33MM on non accrual and $33MM in OREO.

Though the stated equity position is $229MM, the $31MM in tax payer funded debt, is actually debt not preferred stock.  The resulting equity position is $198MM

The company’s net income of $6MM in FY10 and ($47MM)  in FY09, based on this financial performance, how long will it take them to pay back the tax payer’s $31MM, sounds like eternity.

Don’t worry, at least the executive’s haven’t had to have their pay impacted.

Peter Benoist      made $534K

Frank Sanfilippo   made $270K

Linda Hanson made $325K

John Barry      made $437K

These people got paid pretty well in FY10, how come they have decided to not repay the tax payer bailout funds?

Metrocorp Bancshares Houston Tx

This George Lee the CEO, he took $41MM in tax payer money, which he won’t pay back

Net income was ($3MM) in FY10 and ($2MM) in FY09, George, who the hell are you going to pay back the $41MM

George made $507k last year, not bad for having $87MM problem loans

Metrocorp Bancshares Houston, Tx was founded in 1987.  The bank took $41MM in tax payer bailout funds which it has decided it doesn’t care to pay back.

The company has $1.1B in assets, with $127MM in equity.

Problem loans consist of $16MM in past due loans that are 30-90 days delinquent, with $54MM in non accrual, and $17MM in OREO.

This results in a Texas ratio on 48%.

The company had net income ($3MM) in FY10 and ($2MM) in FY09.

At this rate, how long will it take them to repay the tax payer $41MM, how does eternity sound!

The stated equity is $127MM, however, the $45MM in tax payer bailout is actually debt not equity, resulting in true equity of $82MM.

So this place has problem loans of $87MM, supported by $82MM in equity.

This bank is probably technically insolvent!

Why aren’t they on the problem bank list?

Have no fear, at least the executive pay hasn’t been compromised.

George Lee   made $507K

David Choi    made  $363K

David  Tai      made    $382K

They are getting paid pretty well, how are they going to pay back the $45MM in tax payer bailout funds?

Marquette National Corp. Orland Park, Ill

Marquette National Orland Park, Ill was founded in 1945.  The bank took $36MM in bailout funds which they have chosen not to repay. It appears as if the stock is delisted.

They have $1.7B in assets and $175MM in equity.

The problem loans consist of $7MM in past due loans 30-90 days past due, with $54MM on non accrual and $10MM in OREO.

Net income was $247K in FY10 and $2MM in FY09

How long will it take them to pay back the tax payer $36MM?

Reliance Bancshares Frontenac, MO

Reliance Bancshares Frontenac, MO was founded in 1999.  The company took $40MM in tax payer funded bailout money, which they have chosen to not pay back.   They also decided to stop paying interest on these funds. The Texas ratio is 129%, one on the the worst in the state. Why isn’t this company on the problem bank list.  I guess if you live in the show me state, you don’t have to show the tax payer the debt or interest they took.

The company has $1.2B in assets and $96MM in equity.

The problem loan portfolio consists of $26MM in loans 30-90 days past due, with $159MM in non accrual and $26MM in OREO.

The stated equity is $96MM however, the $40MM that they took in tax payer money is debt not equity.  This results in and actual equity position of $56MM.

Hold on, they have $56MM in equity with $211MM in bad debt.

This place is bankrupt, why aren’t they on the problem bank list?

The company net income of ($31MM) in FY10 and ($21MM) in FY09.

Based on these financial results, how are they going to pay back the tax payer’s $40MM?

It’s a good thing the executives who ran this place into the ground have not been impacted.

Allen Ivie               made $308K

Jerry Von Rohr   made $347K

Dale Oberkfell       made $236K

Daniel Jasper        made $191K

The company has a market capitalization of $26MM or 25% of book, not bad for an insolvent company.

Green Bancshares Greenville Tennessee

 

This Stephen Rowand, he took $66MM in bailout money

Stephen hasn’t even paid interest on this money since 8/10

Stephen, your bank lost $235MM over the last 2 years, how are your to pay back $66MM to the tax payer? You can’t

Stephen made $466k last year, not bad pay for making in bad loans and wiping out a 120 year old bank

Greenville Bancshares Greenville, TN was founded in 1890.  The company took $66MM in tax payer funded bailout money, which the decided they don’t want to pay back. They also decided that they didn’t want to pay dividends on these funds as they haven’t made an interest payment on this debt since 8/2010.  It must be nice to get free tax payer funds and then even not pay interest on this debt. What would happen if you decided that you didn’t want to pay interest on one on their loans?  I’ll tell you what will happen if you are past due, check out their website for foreclosed properties,  they will kick you to the curb.

The company has assets of $2B in assets and $137MM in equity.

The problem loan list is impressive.  They have $23MM in loans past due 30-90 days, $5MM in loans 90 days past due, with get this, $144MM on non accrual and $59M of OREO.

Get this, they have $95MM in construction loans on non accrual. This place has it figured out

These people are also pretty savvy at losing money. Net income was ($80MM) in FY10 and ($155MM) in FY09.  Wow, they were able to wipe out 64% of the equity.

How is this $66MM tax payer funded loan getting paid back?

These guys are good, they were able to destroy a 121 company in 2 years.

The stated equity position is $137MM however, they took $66MM in tax payer funding.  This is debt not equity, this makes the actual equity $71MM.

This place has $231MM in bad debt with $71MM in supposed equity?

This company is bankrupt!

Why are they not on the problem bank list?

Sit tight, at least the executives are not losing money.  Somebody is showing them the green.

Stephen Rowand made $466K

Kenneth Vaught   made $379K

Steve Drake            made  $188K

William Adams      made $172K

You can probably live pretty well on $466k in Tennessee.

Steven Rowand, you stole $66MM from the tax payer and you have refused to even pay interest.  You wipe out the shareholders, bankrupt the company and pay yourself $466k. That is one good rally.

This clown should be in jail.

Better get back to Tennessee Jed.  They pay well for running a 121 year old company into the ground.

The market capitalization is $26MM or 19% of book.  Not bad for an insolvent company.

Great Southern Bancorp Springfield Missouri

This Joe Turner the CEO, he took $61MM of your bailout money, which he won’t pay back

Joe ran up $217MM in bad loans

Joe made $527k last year which includes a country club membership and sporting tickets, not bad pay for wiping out a 88 year old bank

Great Southern Bancorp Springfield, Missouri was founded in 1923.  The company took $61MM in tax payer funded bailout money, which it has made no effort to repay.

The company has $3.4B in assets and $304MM in equity.

The problem loan portfolio is epic. They have $37MM in loans past due 30-90 days, with $40MM over 90 days past due, there are $81MM on non accrual and OREO is $59MM. That’s $217MM?

The stated equity is $304MM however, the $61MM in tax payer bailout funding is debt not preferred stock, so the actual equity is $237MM.

The bank has $237MM in equity to support $217MM in bad debt, that is a scary proposition!

How are they going to pay this $61MM back?

At least the executive compensation remained intact.

William Turner   made $372K

Joseph Turner   made $521K

Rex Copland       made $228K

Steven Mechon made   $331K

Rest assured, the salaries included country club dues and sporting tickets.  They have the funds to go to the country club but not pay back the taxpayer.

The market capitalization is $278MM, not bad considering the equity position is essentially wiped out.

First Merchants Bank Muncie, Indiana

This is Michael Rechin, is the CEO who took $107MM of tax payer money

Michael, your bank made $11MM last year, how are going to pay back $107MM?

Michael made $625MM for running a 118 year old bank into the ground

First Merchants Bank Muncie, Indiana was founded 1893.  The company took $107MM in tax payer funded bailout funding, none of which it has made any effort to pay back.

The company has assets of $4B and equity of $566MM

Problem loans consist of $22MM that are 30-90 days past due, with $106MM on non accrual and $20MM in OREO.

Thought the stated equity position is $566MM, the $107MM in tax payer funded bailout is actually debt not equity.  The actual equity is $459MM, which needed to support $155MM in problem loans.

The company has net income of $11M in FY10, based on this financial performance how long will it take them to pay back the $107MM to the tax payer, how does eternity sound.

Fortunately, the executive compensation has not suffered.

Michael Rechin made $625MM

Mark Hardwick made $395MM

Michael Stewert made $393MM

Robert Conners earned $305MM

Wow $625K must go pretty far in Indiana! Not bad pay for wiping out a company that has been around for 118 years

The market capitalization is $239MM or 42% of book.

They have 79 branches and only made $11MM last year, I am thinking the efficiency ratio is pretty weak

Again, how are they going to pay back $107MM?