Seaway Bank and Trust Chicago Illinois

On the left is Rueben Hopkins the CEO

He likes to finance vacant land

This disaster has $159MM in problem loans

Seaway Bank and Trust Chicago Illinois was founded 1965.  For some reason, the company is not on the problem bank list. Let me tell you, this place has problems.  The Texas ratio is 163%.

The bank has assets of $696MM and equity of $37MM.

The problem loan portfolio is astonishing.  They have $159MM in problem loans with an incredible $103MM on non accrual.

With $159MM in problem loans and $37MM in equity.

This bank is beyond bankrupt.

They need to close down this disaster.

This is beyond a zombie bank.

Take a look at the problem loans on the website, they have some fine vacant land for sale.

Is this your bank?

This place is going the way of sliding into the sea.

They might have to settle for drowning in Lake Michigan.

Do you have money in this place? It is going out to sea.

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