Adams Bank & Trust Ogallala Nebraska

These is the Adams family, they took $13MM in bailout money which isn’t repaid

Better call Uncle Fester

Adams Bank & Trust Ogallala Nebraska was founded in 1962.  The company took $13MM in tax payer funded bailout money, which they won’t repay.

The company has $512MM in assets with $57MM in equity.

The actual equity is $44MM, when you back out the so  called preferred stock

The problem loan portfolio is $8MM, which could severely impact the equity position.

Net income was $2MM in FY10 and $5MM in FY09.

Why haven’t they used these funds to pay back the tax payer?

Have you ever been to Ogallala?

I would take my money out of this disaster

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