Citizens Financial Bank Munster Indiana

This is Thomas Prisby he gets paid $649k to run this place into the ground

Don’t worry, the $649k includes a country club membership and a car allowance

Citizens Financial Bank, Munster Indiana was founded in 1934.

Assets are $1.1B, with equity of $112MM

The problem loan portfolio is impressive.  They have $52MM in problem loans with $23MM in OREO.

The problem loan portfolio, could put significant strains on the equity position.

The executives got paid well to run up this level of problem loans.

Thomas Prisby    made $649k

Daryl Pomranke  made $376

Jerry Weberling  made $191

Dale Clapp              made $247k

Daniel Zimmer     made $191k

Charles Cole          made $523k

This includes country club expenses and auto expenses.

Those are good salaries.

Maybe that is why the stock is selling at 50% of book.

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