The First Commercial Bank Chicago Illinois

The First Commercial Bank Chicago Illinois was founded in 1946.  They are member of the problem bank list.  They were cited for having weakness in management, asset quality, capital and earnings.  It sounds as if they made some unwise commercial real estate loans.  The Texas ratio is only 143%.  If they were Florida or Georgia, that Texas ratio wouldn’t have even qualified them for the list.

Assets are $268MM with equity of $25MM.

The problem loan portfolio is impressive.  They have $46MM in problem loans with $34MM on non accrual.

With $46MM in problem loans and $25MM in equity, it won’t take them long to wipe out the rest of the equity.

This place is bankrupt.

It won’t be long until this thing is floating in Lake Michigan.

They lost $15MM in Q1 2011.

If this place is the First Commercial Bank, I would hate to see the last.

Do you have money here, you might want to jump in the lake.

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