Southeastern Bank Darien Georgia

Cornelius Holland gets paid $285K this includes country memberships and car allowances

The bank survived the Great Depression, it won’t survive Corny

The hair is coming off his head as we speak.

Southeastern Bank, Darien Georgia was founded in 1884. They are not on the problem bank list, though they do have serious problems.  The Texas ratio is only 75%, that definitely won’t cut it in Georgia.

Assets are $433MM, with equity of $43MM.

They have $53MM in problem loans.

Having $53MM in problem loans and $43MM in equity is a serious problem.

One would be inclined to think, this place looks bankrupt.

Why aren’t they on the problem bank list?

The executives may have ran this place into the ground, but they pay themselves well for it.

Cornelius Holland         made $285k

John Houser                   made $184k

Alyson Beasley              made $130k

This includes country club memberships and car allowances.

That is good pay for wiping out a 127 year old bank.

This bank survived the great depression but won’t survive Cornelius Holland.

Do you have money in this disaster.

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