National Bank of California Los Angeles California

 

This is Barry Uzel the CEO, took $9MM of your money which he won’t pay back

Don’t worry, Barry also wiped out the stockholders as the stock is de listed

Barry got the bank on the problem bank list

Barry lost this bank $9MM in the last 2 years, how is going to pay back the $9MM?

Barry makes $618k including a country club membership and a car allowance

No only is he good at losing money, he racked up $28MM in bad loans

National Bank of California Los Angeles was founded in 1982.  The company took $10MM in tax payer funded bail out money which it has decided to not repay.  The company is on the problem bank list.  The company stock is also delisted.

They have $381MM in assets with $42MM in equity.

The actual equity is $32MM, as the $10MM in bailout money is debt, not preferred stock.

The company has $28MM in problem loans.

The bank has $28MM in problem loans with only $32MM in equity!

This place is bankrupt.

Why hasn’t it been shut down?

Net income was ($5MM) in FY10 and ($3MM) in FY09.

How are they going to pay the tax payer back $10MM, they can’t and they don’t seem to care.

The executives won’t pay the tax payer back, but they are paying themselves well to run this thing into the ground.

Barry Uzel          made  $618k

Richard Ritte     made $322k

Scott Peterson   made $270k

Don’t worry, the compensation includes club fees and car allowances.  That is a good use of tax payer money.

So Barry Uzel made $618k, to lose $5MM, wipe out this company and he gets $10MM in tax payer money, which he won’t pay back.

Barry Uzel bankrupted your bank .

Only in America!

Is this your bank? Don’t take your money out, Barry needs it for his country club fees.

Then again, he has $10MM in tax payer money to pay for club fees.

Tags: deliquency, executives paid despite non payment of bailout fund, FDIC Bankrupt, insolvent, Non repayment of Gov. bailout funds, problem bank list, real estate