Signature Bank, Bad Axe Michigan was founded in 1894. It is on the problem bank list, with a Texas ratio of 46%.
Assets are $246MM, with equity of $20MM.
The problem loan portfolio is $14.4MM.
This is not a great situation, having $14.4MM in bad loans with only $20MM in equity is a problem.
That is one Bad Axe problem loan portfolio.
Richard Thomas is the CEO.
Richard is one Bad Axe CEO
This bank survived the Great Depression, but can it survive Richard Thomas?
Do you have money is the signature institution?
Tags: debt ceiling, insolvent, problem bank list, real estate
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