United Central Bank Garland Texas

United Central Bank Garland Texas was founded in 1984.  The bank is not on the problem bank list, despite having a Texas ratio of 126%.  Believe me, this place has problems.

Assets are $2.55B with equity of $261MM.

The problem loan portfolio is incredible.  They have, get this, $725MM in problem loans with $518MM that are on non accrual.

Hold on, they have $725MM in bad loans with $261MM in equity.

This place is beyond bankrupt.

Why is this thing not shut down.

These numbers can’t even get you on the problem bank list these days.  These regulators are a savvy group.

They did no one thing, they gave the bank $263MM in tax payer funded stop lose guarantees from the FDIC, for their problem loans.

The government is using tax payer money to prop up this disaster.

They don’t post financial statements or tell you who the management team is.

Take a look at the message from the president, it doesn’t even give you the name of president.

The one thing they can’t hide is the $725MM in bad loans they made.

Take your money out of this bankrupt place.

This place is devastated.

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