Ridgestone Bank Brookfield Wisconsin

Ridgestone Bank Brookfield Wisconsin was founded in 1999.  The bank took $11MM in tax payer funded bailout money, which has neglected to pay back.  They have also chosen not t pay dividends since 8/09.  So this place pays it’s executives but won’t pay interest on the money, they took from the tax payer.

They are also on the problem bank list.  They were cited for having weaknesses in management, capital, liquidity and asset quality.  Maybe, that is why the Texas ratio is 92%.

Assets are $456MM with equity of $42MM.

The actual equity is $31MM, as the $11MM in tax payer funding is debt not preferred stock as they are calling it.

The problem loan portfolio is $54MM with $44MM on non accrual.

With $54MM in problem loans and $31MM in equity, this place is technically insolvent.

Why isn’t this place closed down.

How come they aren’t paying back the tax payer, let alone paying interest on the debt.

This place is a zombie bank, do  you money in this thing?

Advertisements

Tags: , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: