PrimeSouth Bank Blackshear Georgia

PrimeSouth Bank Blackshear Georgia was founded in 1891.  For some reason they aren’t on the problem bank list.  That is probably because the Texas ratio is only 96%.  Becoming a problem bank in Georgia is very competitive these days.

They have assets of $421MM with equity of $32MM.

The problem loan portfolio is incredible at $36MM, with $32MM on non accrual.

With $36MM in problem loans and $32MM in equity, this place is insolvent.

Why isn’t this bank closed down?

Then again, why aren’t they on the problem bank list?

For some reason, they don’t like to publish the financial statements on the website or tell you who the management team.  With this financial performance, I would be in hiding also.

Do you have money in this bank?

This bank is primed to go south.

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