First United Bank Crete Illinois

This is Michael Kazmierczak

Micheal’s bank is on the problem bank list

Michael wiped out 100 of the equity in only 3 years

Michael lost another $7,117,000 in Q4 2011

Michael wiped out 80% of the remaining equity in only 90 days in Q4 2011

I’d be bald also if I were sitting on $45,000,000 in bad loans with only $12,000,000 in equity

They were cited for weakness in management? Shocking!

First United Bank Crete Illinois was founded in 1972. They have the distinction of being on the problem bank list. They were cited for unsafe and unsound banking practices and violations of the law. violations included weakness in management, capital liquidity and earnings.. Maybe that is why the Texas ratio is 138%.

They have assets of $389MM with equity of $17MM.

Are you sitting down, they have $54MM in bad loans with $17MM in equity.

This place is bankrupt.

They should relocate to excrete Illinois

These jokers are also adept at losing money.

Net income was ($12MM) in FY10, ($8MM) in FY09 and ($5MM) in FY 08. Then again, they lost another $843k in Q1 2011

The CEO Michael Kazmierczak has done an admirable job of wiping out this place

What’s going to happen first, the CEO goes completely bald or the company goes bankrupt?

This guy wiped out 100% of the equity in 3 years.

You might want to take your cash out of this place.

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