The First Hattiesburg Mississippi

The First Hattiesburg Mississippi took $17MM in tax payer funded bailout money, which it has made no effort to repay.

Assets are $539MM with equity of $55MM

The actual equity is $38MM, as the tax payer funding is debt not prefered stock.

Net income was $3MM in FY10, $2MM in FY09 and $2MM in FY08.

At this rate, how long will it take to pay back the tax payer? Hey, imagine if they used the net income to repay the tax payer!

The executives may not pay the tax payer back but they are not afraid to pay themselves.

David Johnson     made $212k

M Roy Hoppy Cole  made $187k

Dee Dee Lowry          made $169k

David Thomas            made $103

Carol Daniel                made $164k

Hoppy, you pay yourself well, how about paying back the tax payer?

Hoppy, where is the $17MM, check your pocket.

How about sticking M Roy Hoppy Cole in jail.

The First? The first at taking tax payer funding and not paying it back.

Is this your bank?


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