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.

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