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!

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