Johnson Bank Racine Washington Problem bank list Russ Weysers made $321,000,000 in bad loans

This is Russ Weyers, he got this place on the problem bank list with making $32MM in bad loans

Do you have your money with this fat cat?

Johnson Bank, Racine Washington was founded in 1970.  The company is on the problem bank list.  The Texas ratio is 58%.  If there was an insolvent bank list, they would be on that also, this bank is a disaster.

Assets are $4.5B with $286MM in equity.

The problem loan portfolio in relation to the equity base is staggering.  They have $321MM in problem loans,  $194MM of which are on non accrual and $70MM is in OREO.  They have $90MM in bad construction loans.

With $321MM in bad loans and $286MM in equity, this place is bankrupt.

Why haven’t the regulators closed this thing down?

This bank is beyond insolvent.

Russ Weyers was the CEO, who destroyed this bank, how about some jail time, for his lack of fiduciary responsibility.

Russ, you are one savvy banker. You wiped out 54% of the equity in 3 years.

Do you bank with this group.

This Johnson could use some Viagra.


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