First American Bank Elk Grove Village Illinois

Take a look at the new site

capital2risk.com

Thomas Wells took $50,000,000 in tax payer which he can’t pay back

Thomas Wells is sitting on $124,000,000 in junk loans

Thomas Wells is attempting to bankrupt a 110 year old bank



First American Bank Elk Grove Illinois was founded in 1901.  The company took $50MM in tax payer funded bailout money, which it won’t repay.  For some reason, they aren’t on the problem bank list.

Assets are $2.7B with equity of $276MM.

The actual equity is $226MM, as the $50MM in tax payer funding is debt not equity.

The problem portfolio is immense.  They have $192MM in problem loans, with $114MM in non accrual and $45MM in OREO.

With $192MM in problem loans and $226MM in equity, this place is bankrupt.

How come this thing is not shut down?

Then again, why aren’t they on the problem bank list.

The government is just propping this thing up with tax payer funding.

Net income was $1MM in FY10 and $9MM in FY09.

They lost another $8MM in Q3 2011.

Based on this financial performance, how are they going to pay back the $50MM? It is never going to happen.

Take a look at the website, they don’t tell you who the CEO is or post the financial statements.

I guess if I bankrupted a 110 year old financial institution, I would be in hiding also.

Is this your bank?

This place took $50MM of your money that it can’t pay back.

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20 Responses to “First American Bank Elk Grove Village Illinois”

  1. s.lock hunter Says:

    Published court documents describe this bank as operating with “unclean hands” and as “fraudulent.” Four bank officers have recently been summoned for depositions for claims against them for consumer fraud. Don’t get a mortgage with this predator bank whose
    chairman and his wife jet from their Lake Forest, Illinois mansion
    to Steamboat Springs on $50 million in TARP funds. This capitalist
    pig, Thomas E Wells IV, and his wife can be seen at The Joffrey Ballet in Chicago while his bank aggressively forecloses on mortgage holders for “windfall” profits to his bank. All on taxpayer money.

    • capital2risk Says:

      Thanks for you great comments. This place took $50MM of tax payer money which they won’t pay back. This place is bankrupt. Look forward to hearing your comments

    • capital2risk Says:

      great comments thanks so much for your support, we look forward to any comments you have

    • capital2risk Says:

      great comments thanks so much for your support, we look forward to any comments you have

  2. S.lockhunter Says:

    Taking $50MM in TARP funds is not the first time that Thomas E Wells IV, chairman of First American Bank, has grabbed taxpayer money. He has an ownership interest in Rush Creek Land & Livestock Company that has milked the taxpayer out of more than $945,000 in farm subsidies since 1995. Is he paid not to raise corn or cows in the backyard of his Lake Forest, Illinois mansion?

  3. S. Lock Hunter Says:

    More fraud at First American Bank!
    In Fogel vs First American Bank, Fogel, the Court appointed trustee to liquidate the estate of a debtor in No. 07 B 20870 for the benefit of First American turns the tables and sues First American for two counts of alleged fraudulent conveyance! That’s just a polite way of saying bank fraud.

  4. S. Lock Hunter Says:

    You are known by the company you keep!
    In The United States Of America vs Kenneth A Dachman,
    Dachman was accused in a scheme to defraud investors and then
    deposited these fraudulent funds in First American
    Bank. Dachman, residing in a 2 acre mansion estate in Lake
    Forest, Illinois lives in the same small neighborhood
    of the Lake Forest mansions of John B Ward, President, and Thomas E Wells IV, Chairman, of First American Bank. Of all the
    banks available, Dachman used the bank controlled by his neighbors.

  5. S. Lock Hunter Says:

    And Discrimination Too!
    In The United States vs First American Bank, the bank was charged with discrimination on the basis of race, color, and national origin!
    Come on, can’t you give a couple of rich white guys who run the bank, John B Ward and Thomas E Wells IV, in their Lake Forest, Illinois mansions a break. I am sure they let Hispanics mow their lawns, they just didn’t want to lend them any money.

  6. S. Lock Hunter Says:

    Whatchu talkin bout, we have to pay this back?
    First American Bank still owes taxpayers millions. John B Ward,
    President and resident of Lake Forest, Illinois responded to a how will you repay the Tarp funds question from American Banker with “we have not yet determined how it would pay the remaining Tarp funds.” The owners of this bank should be forced to sell their personal property to pay back taxpayers just as harshly as they
    hastily foreclosed on many mortgage borrowers.

  7. S. Lock Hunter Says:

    Why’s Everybody Always Picking On Me?
    In Burns vs First American Bank, case no. 04-cv-7682,
    First American Bank has been charged with allegedly violating
    the Electronic Funds Transfer Act.
    Get your money out of this place. Change your mortgage now.
    Can any other bank be worse than this unethical bank?
    Do I have to say “allegedly” unethical?

    • capital2risk Says:

      thanks again for the great info, there are probably a lot of banks worse than this thing, unfortunately none of these clowns are in jail

  8. S. Lock Hunter Says:

    Thank Goodness They Were Awake At The Treasury Department!
    When First American Bank applied for a national charter to
    expand it’s operations nationally, The Office Of The Comptroller Of The Currency said No Way Jose! They didn’t actually say that but they did respond with a “no comment” when asked why First American Bank was denied at national charter. Fortunately this bank’s alleged unethical activities have been contained in Illinois only.

  9. S. Lock Hunter Says:

    First American Bank Convicted!
    In The United States Of America vs First American Bank, this Elk Grove Village, Illinois bank was convicted of discrimination on the basis of race, color, and national origin.
    Can’t a couple of rich white guys who control the bank get a break.
    John B Ward, President and Thomas E Wells IV, Chairman both
    own mansions in Lake Forest, Illinois and they let Hispanics on their
    estates just as long as they are mowing the grass.

  10. S. Lock Hunter Says:

    ATM Complaints At First American Bank
    First American Bank has been charged with violating the Electronic Funds Transfer Act, again. This time with Burns vs First American Bank. Get your money or your mortgage out of this greedy bank before it scams you too!

  11. S. Lock Hunter Says:

    First American Bank Still Owes Taxpayers Millions!
    John B Ward, President and owner of a Lake Forest, Illinois mansion, recently told American Banker that “we have not yet determined how it would pay the remaining TARP funds.” These bank owner bullies at First American Bank should be forced to sell their mansions to pay their debts and treated just as brutally and harshly as they treated the many mortgage borrowers they hastily forced into foreclosure and financially ruined.

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