Roundbank Waseca Minnesota

Roundbank Waseca Minnesota was founded in 1881.  For some reason, they are not on the problem bank list, I guess a Texas ratio of 76%, doesn’t make it these days. Take it from me, this place has problems.

Assets are $243MM with equity of $30MM.

The problem loan portfolio is $28MM.

Do I have this right, they have $28MM in problem loans and $30MM in equity and can’t get on the problem bank list?

This disaster should be on the problem bank and shut down, not necessarily in the order.

These regulators still don’t have it figured out.

Look on the bright side, the CEO Larry Thompson was able to wipe out a 130 year financial institution in record time.

What is a Roundbank?

Whatever it is, you should take out your money, the CEO is going to run it into the ground.  How about Groundbank.

Larry Thompson ran this bank into the ground!

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