First Reliance Bank Florence South Carolina

Take a look at the new site

The efficiency ratio is 97% this dope loses money just opening up this bankrupt disaster

F$$CKING R lost $8,625,000 in Q4 2011 alone

F&$CKING R is sitting on $50,000,000 in shit loans

F.R. took your money he makes $635k a year, would you trust this guy?

The Texas ratio is like 83% FR you are bankrupt

They are rated a 1 which is the worst you can get

He took $17MM of tax payer money and gets paid $635k, which includes a country club membership

First Reliance Bank Florence South Carolina was founded in 1999.  The company took $17MM in tax payer funded bailout money, which it has decided not to repay.  For some reason, they aren’t on the problem bank list.  I guess not paying back the tax payer money they took, is not a problem for the regulators.

This is Jeffery Paulucci,

This criminal stole $17,000,000 from the tax payer

Jeffery gets paid $318,000 to steal your money

Jefferey the tax payer wants the $17,000,000 back that you took

This thief has pretty good tan

Your taxes are paying for country club dues

Assets are $574MM and the supposed equity is $53MM.

The actual equity is $36MM, as the $17MM they took from the tax payer is debt, not preferred stock as they are calling it.

The problem loan portfolio in relation to the equity base is impressive.  They have $27MM in problem loans, with $23MM on non accrual and anther $17MM in OREO.

Get this, they have $27MM in bad loans and $36MM in equity, they are bankrupt.

How can a company that is effectively bankrupt, not even receive a much deserved spot on the problem bank list?  Come on, the Texas ratio is 72%, let them on the list, so they can brag to their friends at the country club.

Net income was ($1MM) in FY10 and ($2MM) in FY09.

They lost $7MM in Q3 2011 alone, this place will be bankrupt soon

Based on this financial performance, how long will it take them to repay the tax payer $17MM? They can’t.

This is Craig Evans he owes you $17,000,000

Craig gets paid $291,000 to screw the tax payer, he also gets free a country club membership

Craig should be in jail

Maybe they can’t repay the tax payer, but they can sure as hell pay themselves.

F. R Saunders      made  $635k

Jeffrey Paulucci  made   $318k

Craig Evans            made  $291k

Don’t worry, this includes country club fees.  The tax payer is paying for them to play golf.  It might be safer for the tax payer to have them out golfing, at least when they are golfing, they aren’t making bad loans.

This team pays themselves well to, bankrupt the company, wipe out the shareholder, take money from the tax payer and not pay it back.

F. R. where is the tax payers $17MM, check your pockets.

F.R. where the f$$$ is the the $17MM you took

F.R. you bankrupted this place in record time.

The market capitalization is $8MM or 15% of book, this place is worth more dead than alive.

Do you have money here? I wouldn’t put much reliance on this disaster.

What does F. R. stand for? First Reliance?

Are you going to rely on F.R. Saunders to wipe out the rest of your money?

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2 Responses to “First Reliance Bank Florence South Carolina”

  1. Kristian Cassiano Says:

    I am not rattling superb with English but I come up this real easygoing to understand.

    • capital2risk Says:

      don’t worry most people that claim to speak English are in competent, thanks for checking us out, you English is better than most

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