Shelby County Bank Shelbyville Indiana

This is they guy that should be running this disaster

Shelby County Bank, Shelbyville Indiana was founded in 1891. The company took $5MM in tax payer funded bailout money, which it won’t pay back.   The company has a Texas ratio of 100%, but is not on the problem bank list?

Assets are $238MM with $10MM in supposed equity.

The actual equity is $5MM, as the $5MM in bailout money,  is debt not preferred stock.

The problem loan portfolio is $13MM.

With $13MM in problem loans and $5MM in equity, this bank is bankrupt.

This place is insolvent and can’t even make it on the problem loan list.

Net income was ($1MM) in FY10 and ($1.4MM) in FY09.

How are they going to pay back the $5MM to the tax payer.  They can’t.

Do you have money in this bankrupt disaster?

Withdraw your money from this place.

The government is using your money, to prop up this bankrupt entity.


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