Ocean Bank Miami Florida Problem Bank List Laundering Drug $

Would you trust this person?

This is Alfonso, he bankrupted this place

Why is this clown smiling? Weakness in management, that might be you Alfonso

Ocean Bank Miami Florida, was founded in 1982.  This place is a complete disaster.  They are on the problem bank list for weakness in management, asset quality, capital, liquidity and earnings.  The Texas ratio is 100%.

Weakness in management? How does incompetent sound.

Assets are $3.5B with $115MM in equity.

Take a look at the problem loan portfolio, it is staggering.  They have $562MM in problem loans.  There are $121MM in past due construction loans, that alone will bankrupt this place.

With $562MM in bad loans and $150MM in equity, this place is bankrupt.

Why is this zombie bank not closed down?

What are the regulators thinking about?

This bank is a Ponzi scheme, that the government allows to continue.

Net income was ($116MM) in FY10 and ($96MM) in FY09.  They lost another $24MM in Q2 2011, that should keep them on track to lose another $100MM this year.

They lost another $24MM in Q1 2011. This place should be bankrupt by year end.

Check out the website, they have 100’s of acres of vacant land for sale.  Who in their right mind finances vacant land?

The CEO is Alfonso Macedo, apparently he likes to finance vacant land.

This cat wiped out 98% of the equity in 3 years.

Alfonso, you turned this bank into an unmitigated disaster.

Alfonso, you have $562MM in problem loans, you are one savvy banker.

Didn’t the regulators say, they have weakness in management, shocking.

Alfonso, what are you going to do with all that vacant land?

Is this a bank or a REIT?

They were ordered by the regulators to raise $100MM.

Alfonso, loses a $100MM a year, sounds like a great investment.

How is the capital raising going?

Even Bernie Madoff wouldn’t get involved with this bankrupt entity.

Do you have money in this place.

Don’t forget the FDIC is also bankrupt.  Take your cash out of this disaster.

You might want to jump in the ocean, this bank is a ship wreck.


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