Bay Cities Bank Tampa Florida


Where is the $10MM you took?

Bay Cities Bank Tampa Florida was founded in 1999.  The company took $10MM in bailout funds which still hasn’t been paid back.For some reason the are not on the problem bank list.

They have $622MM in assets with $56MM in equity.

The equity position is actually $46MM when the $10MM is bailout funds is backed out.

The problem loan situation in relation to the equity position is incredible.  The bank has $45MM in problem loans of which $32MM is non accrual.

The company has $45MM in bad loans with $45MM in equity.

This place is bankrupt

Why aren’t they shut down?

Why aren’t they at least on the problem bank list? I guess it is very competitive to become listed on the problem bank list in Florida.


Tags: , , ,

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: