Community Bank of Pickens County Jasper Georgia

Community Bank of Pickens County Jasper Georgia was founded in 2000.   The company is on the problem bank list for general incompetent commercial real estate lending.  They were cited for unsafe and unsound lending practices resulting in weaknesses in management, capital, asset quality and earning.  The Texas ratio is 137%.

Assets were $298MM, with equity of $20MM

The problem loan portfolio in relation to the equity base is impressive.  They have $20MM in problem loans and $14MM in OREO.

With $20MM in problem loans and $20MM in equity, this thing is bankrupt.

They forgot to post the financial statements on the website, or tell you who the management team is.

I might not know who the management team is, but I do know one thing, they bankrupted this place in record time.

Take a look at the website, the one thing they do have is an impressive array of real estate for sale.  Check out all the vacant land they have for sale, is this a bank or real estate agency?

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