State Bank Northwest Spokane Washington

State Bank Northwest Spokane Washington was founded in 1902.  The company took $10MM in tax payer funded bailout funds which it won’t repay.  For some reason this place is not on the problem bank list.  The Texas ratio is 53%.

The company has $99MM in assets and $10MM in equity.

So, the $10MM in equity is all tax payer funded bailout money.

This bank is being propped up by the tax payer.

100% of the equity is tax payer funded.

Why wasn’t this bank closed.

Why isn’t it it on the problem bank list.

Net income was $39k in FY10 and ($1.1MM) in FY09.

How will this bank repay the tax payer $10MM, they can’t.

Do you have money in this bank?

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