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!!!!

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