American Bank St Paul Minnesota

American Bank St Paul Minnesota was founded in 1972.  The Texas ratio is through the roof at 87%.

The company has assets of $469MM and equity is $27MM.

They have problem loans of $32MM, $25MM of which are on non accrual, this alone could destroy the remaining equity position.

With $32MM in bad loans and $27MM in equity, this bank is insolvent.

Take a look at the website, they don’t post financial statements, tell who the CEO is or who management team are.

Net income was ($7MM) in FY10, ($27MM) in FY09 and ($12MM) in FY08.

I guess with this kind of financial performance, I’s be keeping a low profile also if I were them.

They did a good job of wiping out the equity position by 132% in only 3 years.

Do you bank with this place, it could be a long winter.

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