Greystone Bank Raleigh North Carolina

 

 

Greystone Bank, Raleigh North Carolina was founded in 2005.  The company is not on the problem bank list, but believe they have serious problems.  The Texas ratio is 80%.

Assets are $173MM, with equity of $20MM.

They have $23MM in problem loans.

With $23MM in problem loans and $20MM in equity, it behoves me, as to why they aren’t on the problem bank list.

This place is probably insolvent.

Net income was ($17MM) in FY10.  They lost $13MM in Q1 2011 alone.  This place is blowing up.

The management team wiped out 175% of the equity in the last 3 years.

Is this your bank?

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