Bank of the Bluegrass Lexington Kentucky

Bank of the Bluegrass Lexington Kentucky was founded in 1972.  The company is on the problem bank list.  They were engaging in unsafe and unsound banking practices and violations of the law!  Wow, that doesn’t sound good.

Assets are $217MM with $27MM in equity.

The problem loan portfolio is $20MM.

Having $20MM in bad loans with $27MM in equity, is not a good position to be in.

This place is starting to look pretty insolvent.

Bill Allen is the President.  He has made a valiant effort at wiping this thing out.


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