American Bank of the North Nashwauck Minnesota

 

 

 

American Bank of the North, Nashwauck Minnesota was founded in 1920.  The company is on the problem bank list, it appears as if they were doing some hazardous commercial real estate lending.  The Texas ratio is 79%.

Assets are $644MM and equity of $49MM.

The problem loan portfolio is $48MM. The problem loan portfolio appears to be rapidly increasing.

Having $48MM in problem loans and $49MM in equity is not a promising scenario.

The problem loan portfolio could cause havoc on the equity base.

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