AmericanWest Bank Spokane Washington was founded in 1977. The bank is on the problem bank list as it entered into a cease and desist agreement. They were cited for using unsafe and unsound banking practices. The bank has weakness in management, capital, assets quality and earnings. The order stated that management was detrimental to the bank. The stock was delisted.
They have assets of $1.6B and equity of $191MM.
This management team is great at losing money. Check this out, net income was ($28MM) in FY10, ($62MM) in FY09 and ($155MM) in FY08.
Wow, that is $245MM in 3 years, these guys are good.
They might want to figure out the cost structure. In FY10, they have $53MM in income with $83MM of overhead, that might explain the losses.
The efficiency ratio is 120%.
Take a look at the real estate they have for sale, this place likes to finance vacant land.
Tags: deliquency, FDIC Bankrupt, insolvent, problem bank list, real estate
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