Montgomery Bank & Trust Ailey Georgia

Montgomery Bank & Trust Ailey Georgia was founded in 1926.  This place is not on the problem bank list.  Man, things are tough these days.  When you have a Texas ratio of 330%, are bankrupt and can’t make it on the problem bank list.  It is getting competitive to be bankrupt in the peach tree state.

Assets are $227MM with equity of $13MM

Hold on, the have $36MM in bad loans, with $33MM on non accrual.

So, $36MM in problem loans with $13MM in equity,that  can’t even get you a place on the problem bank list in Georgia these days.

They have $13MM in non accrual construction loans, which will wipe out all the equity and can’t even get on the problem bank list.

They lost $15MM in the last 2 years.  Check this out, they lost $3MM in Q1 2011.

This place is bankrupt

Why aren’t they shut down?

Then again, why aren’t they on they on the problem bank list.

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4 Responses to “Montgomery Bank & Trust Ailey Georgia”

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