Orange Bank of Florida Orlando Florida

Do you give your money to pay for this clowns country club fees?

Orange Bank of Florida, Orland Florida was founded in 2005.  Probably not the smartest time to start a bank.  For some reason, they are not on the problem bank list.  Having a Texas ratio of 53%, simply doesn’t cut it in Florida these days.

Assets are $299MM, with equity of $22MM.

They have $14.5MM in problem loans.

I am thinking $14.5MM in problem loans, with $22MM in equity, should at least give them a shot at the problem bank list.

Based on their financial performance, it shouldn’t take them long to wipe out the remaining equity.

Net income was ($9.7MM) in FY10, ($10.8MM) in FY09 and ($6MM) in FY08.  They lost another $1.1MM in Q1.

The executives have done a great job in wiping out this bank in record time, but they are not afraid to pay themselves well, for their incompetence.

Charles Brinkley      made $382k

Thomas Dargin        made $238k

Keith Bulko               made $248k

This includes country club fees and car allowances.

These clowns can make bad loans in the office and on the golf course.

Is this your bank?

They ought to change the name from Orange, based on the stellar financial performance, all this place sees is red.

Advertisements

Tags: ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: