Conway Bank Conway South Carolina

Conway Bank, Conway South Carolina was founded in 1914.  The company is on the problem bank list.  The Texas ratio is  34%.  The stock is delisted.

Assets are $941MM with equity of $86MM.

The problem loan portfolio is $45MM.

The problem loans could cripple the equity base.

The executives might have wiped out the stockholders, but they sure took care of themselves.

W. Jennings Duncan            made     $266k

L Ford Sanders                     made       $227k

William Bensen                    made        $159k

Marion Freeman                 made         $194k

Philip Thomas                     made          $175k

M. Terry Hyman                 made          $158k

This includes country club fees and car allowances.

That is pretty good pay for wiping out the stock holders and racking up a ton of bad loans.

L. Ford gets paid well to play golf and make bad loans

This place survived the Great Depression, but it might not survive W. Jennings Duncan.

I guess in the south, if you are a lawyer or a banker, you get to stick a letter in front of your name.

Are these people holding your money?

Tags: , ,

Leave a Reply

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

You are commenting using your 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: