First Community Bank of Southwest Florida

First Community Bank of Southwest Florida was founded in 1999.  This place is a piece of work, it’s got it all covered.  They are on the problem bank list for essentially making a ton of horrible commercial real estate loans. That might be why the Texas ratio is 186%

They are also on the list of under capitalized banks. If there was a list for insolvent banks, they would head that also.

Assets are $335MM with remaining equity of $14MM.

They have $32MM in problem loans with $26MM on non accrual.

This place is beyond bankrupt.

Are they going to close this down, or just let it run itself into the ground.

Net income was ($5MM) in FY10, ($11MM) in FY09 and ($3MM) in FY08.

This allowed them to wipe out 75% of the equity in 3 years.

Maybe that is why that don’t post financial statements on the website.

Rudolf Guenzel the CEO, did an admirable job bankrupting this place.

Rudolf, at least you bankrupted this place  in a record pace , no sense wasting time.

Famous last words, “real estate will never go down”

Is this your bank? You might take your money and bury it at the beach.


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