Patriot Bank Cumming Georgia

Patriot Bank Cumming Georgia was founded in 2006.  Wow, that was a good time to start a bank.  This place has it all.  This place is bankrupt and it is not on the problem bank list? You would think with a Texas ratio of 723%, that could be a problem.

Fortunately, they made it onto the under capitalized bank list.  Their Tier 1 risk based capital is 4%, slightly below the 8% target.

Happiness is Cumming.

Assets are $160MM with equity of $3MM.

They have $21MM in problem loans with $19MM on non accrual.

This thing is beyond insolvent.

Why isn’t this place closed down.

Again, why aren’t they on the problem bank list?

They are heading up the insolvent bank list.

Net income was ($4MM) in FY10, ($4MM) in FY09 and ($2MM) in FY08

They wiped out 367% of the capital in 3 years.

Take a look at the real estate they have for sale, there are some nice vacant buildings.

You probably don’t want to have these patriots holding your money.

They destroyed this bank in record time.

This bank is Cumming bad loans!

The British are Cumming.

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