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.

Tags: Non repayment of Gov. bailout funds, problem bank list