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.

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4 Responses to “Town & Country Bank and Trust Bardstown Kentucky Bankrupt! Do have money here Bankrupt $31,000,000 in problem loans! 100 year old bank BANKRUPT”

  1. Emmanuel Roope Says:

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  2. Su Brieger Says:

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