Posts Tagged ‘debt ceiling’

Cornerstone Bank Atlanta Georgia

March 20, 2012

Check out the new site

capital2risk.com

This is Chris Burnett the CEO

Chris Burnett is the CEO who got this place on the problem bank list

They are also on the under capitalized bank list, that is a serious problem

It didn’t take Chris Burnett long to wipe this place out

Chris is sitting in $28,000,000 in junk loans with only $18,000,000 equity

Not sure why he smiling, he has a serious problem 

Do you have money in this bankrupt disaster? You are screwed!

This is Charles Yorke

Charles has helped wipe this place out

This is Frank Roach CFO

Frank you piece of junk bank is on the under capitalized, do you think there is a problem

No wonder he is half bald

Frank you lost $3,336,000 in Q4 2011

Cornerstone Bank, Atlanta Georgia was founded in 2001.  The bank is on the problem list.  They are currently under capitalized.  The Texas ratio is 77%.

Assets are $477MM, while equity is $24MM

Capitalization is 6.09%, below the 8% threshold.

The problem loan portfolio is $20MM.

Here they are opening a new branch so they can make more bad loans

The problem loans alone should wipe out most of the equity.

Here they are working on the $28,000,000 in problem loans

This place should be closed.

Chris Burnett is the CEO and Charles Youke is the President.

Call Paige Beebe she will get you a sub prime mortgage 401-601-1263

It didn’t take these two long make a ton of bad loans and run this place into the ground.

Things must be good, you are on the problem bank and the under capitalized bank list, driving around in this thing

This place is a cornerstone?

Is this your bank?

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Pinnacle Bank Orange City Florida

December 18, 2011

Take a look at the new site

capital2risk.com

These jokers lost $5,500,000 in Q4 2011, wiping out 63% of the remaining equity

Wow, these fat cats took $4.4MM of your money, which they haven’t even bothered to pay interest on since 5/10

It is good that they have time to play golf on the tax payers money

That cat on the left isn’t missing any meals thanks to TAARP, that stomach is all bought and paid for thanks to  the tax payer

These boys are down in the trenches or maybe bunkers

Using tax payer money to sponsor golf tournaments, who is better than these bankers, and they are bankrupt.

Do you think that clown in the middle has done any hazardous commercial real estate lending?

These boys are on the problem bank list and living large.

This is David Bridgeman, David stole $4,400,00 of the tax payers money

David has not even paid interest on your money since 5/10

This fat cat bankster is on the problem bank list for hazardous commercial lending

This clown is going bald but he can grown pubic hair on his face.

Pinnacle Bank Orange City Florida was founded in 1999.  The company took $4.4MM in tax payer funded bailout money, which they won’t pay back.  Then again, they haven’t even paid interest on it since 5/10.  They are also on the problem bank list for hazardous commercial real estate lending. The Texas ratio is 73%.

Assets are $205MM and supposed equity is $13MM.

The actual equity is $8.6MM, as the $4.4MM in taxpayer funding they stole, is debt not preferred stock.

The problem loan portfolio is $17MM.

With $17MM in problem loans and $8.6MM in equity, this place is bankrupt.

How are they going to pay the tax payer back the $4.4MM?  They can’t even pay the interest.

David Bridgeman owes you $4,000,000, he won’t even pay you interest

David does have time to play golf

David Bridgeman is the CEO.

This guy stole tax payer money, can’t pay it back and ran this place into the ground. Pinnacle?

Check out the website, here is a quote from David Bridgeman, “they wanted somebody who’s a real banker, down in the trenches, who has recently been examined by the FDIC”.

David, the FDIC examined you and put you on the problem bank list.

David, where is the $4.4MM you owe the tax payer, how about at least paying the interest.

Do you have money in this debacle.

They are the Pinnacle, of making bad loans.

Mr. Bridgeman (local community banker) goes to Washington
 
David Bridgeman doesn’t need to watch television or read reports to understand the devastation the recession is causing on Main Street.The Orange City community banker witnesses those effects daily —sometimes even in his own office.The CEO of Pinnacle Bank recalls a local small business owner recently breaking down in tears in front of him while explaining how his company’s financial situation hadbecome so dire he was forced to lay off several longtime employees.It’s a story that Bridgeman has beenhearing from far too many area businesses these days. Several have closed in recent months, including the West Volusia Chamber of Commerce.The increasing need to provide loans to small businesses prompted Pinnacle last year to become the first community bank based in the Volusia-Flagler area to receive Troubled Asset Relief Program funds from the federal government.The nearly $4.4 million Pinnacle received from the TARP Capital Purchase Program should not be confused with the bailouts thefeds have been doling out to the so-called too-big-to-fail Wall Street firms and national banks.To qualify for TARP funds, community banks, unlike the banking giants, must prove they are financially sound.

Pinnacle, in both November and December, was ranked by the U.S. Small Business Administration as the No. 2 SBA lender in the North Florida district, which includes Volusia and Flagler counties, in terms of dollar amount.But “unduly harsh” restrictions placed by federal regulators, including requiring community banks to have higher than reasonable or necessary risk-weighted capital ratios, are making it increasingly difficult, if not impossible, for banks to continue issuing loans to small businesses, says Bridgeman.
If President Obama and Congress are serious about wanting to encourage banks to give Main Street businesses a helping hand, they need to ease restrictions on community banks, says Bridgeman. Making federal funds available to community banks is good and fine, but of no use if those funds come with too many strings attached, he says.On Feb. 11,  (February 26th at 10:00 a.m) Bridgeman will get a chance to tell members of Congress.Thanks to a recommendation from Congressman John Mica (R-Winter Park), Bridgeman recently received an invitation from the office of U.S. Rep. Barney Frank to testify before a joint-meeting of the House financial services and small business committees in Washington, D.C.“They wanted somebody who is a real banker down in the trenches that’s been recently examined by the FDIC … someone in banking where the rubber meets the road,” Bridgeman explains.They certainly found a person who fits that bill in Bridgeman.
 Wonder if Conressman John Mica plays golf?Mica: Florida Community Banker Makes Plea to CongressWashington, Feb 26 -Washington, .C. — At the request of Congressman John L. Mica (FL-07), community bank President David Bridgeman of Pinnacle Bank in Orange City testified before a joint Congressional Panel on the plight of local banks.  Bridgeman is the only witness in a three panel Congressional hearing not representing a major financial or banking trade association.  Congressman Mica was instrumental in both calling for the hearing and making certain that Florida community bankers that have been hard hit by Federal Regulators had a voice in their attempts to restart lending.  This joint hearing held by the House Committee on Financial Services and House Committee on Small Business addressed the difficulties faced by community banks as they have been stymied by federal regulators.

In David Bridgeman’s testimony he spoke on “[T]he challenges impacting small and commercial real estate credit availability.”  Bridgeman went on to say, “Community banks are the life blood for small business in America…Although community banks hold around 11% of total industry assets, community banks originate 38% of all small business and farm loans.”

Bridgeman stated that, “Pinnacle [Bank] did not make the subprime or exotic risky mortgages nor did we invest in complex derivative securities that led to the current crisis…Pinnacle Bank was the second largest SBA lender in North Florida.”

“We ended 2009 in a strong capital position,” Bridgeman continued, “Despite the bank’s strong capital position…the FDIC field examination…is recommending that our capital status be downgraded to ‘Adequately Capitalized’…This type of heavy handedness from the regulators is ultimately obstructing the economic recovery.”

Bridgeman mentioned the challenges of “Viable businesses with good credit histories and reasonable equity cannot obtain loans because their income and liquidity to support debt repayment are not sufficient for banks to make a loan using prudent underwriting standards.”

To summarize Bridgeman stated that, “The current regulatory environment is having a debilitative affect on local lending.”

Congressman Mica was encouraged to have our community represented at this hearing and went on to say, “We need to make sure that capital is available for job creation. Jobs are a top priority.”

http://mica.house.gov/news/DocumentPrint.aspx?DocumentID=173852

 

Ocean Bank Miami Florida Problem Bank List Laundering Drug $

December 17, 2011

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.

Darien Rowayton Bank Darien Connecticut

August 1, 2011

Maybe this kid should be giving these two savvy bankers a check

Darien business of the year?

Darien Rowayton Bank, Darien Connecticut was founded in 2006.  That was a great time to start a bank. They have a 1 star rating on a 5 star scale, which is the lowest.  The Texas ratio is 22%.

Assets are $149MM, with equity of $12MM

The problem loan portfolio is $3MM.

The problem loans could effectively put a serious strain on the equity position.

Not only is this bank adept at making bad loans, they are even better at losing money.

Net income was ($2.8MM) in FY10 and ($2.6MM) in FY09.  Hold on, it gets better, they lost another $1.3MM in Q1 2011. They lost another $817k in Q2, they are on track to lose $4MM this year.

At this rate, this place could be bankrupt by year end.

In FY10, income was $2.9MM and overhead was $5MM.  Do you think this management team might want to take a look at their operating leverage?

The efficiency ratio is 203%.

This place loses money, just opening up the door.

I though these bankers in Fairfield County, were the smartest bankers in the country.

Bert Knotts is the CEO and Robert Kettenman is the COO. These are the savvy bankers, that are wiping out the shareholders and running this place into the ground in record time.

It didn’t take Bert Knotts long to bankrupt this place.

They would better off with Don Knotts.

Take a look at this, they were the Darien Chamber of Commerce Business of the year in 2010.

Hold on, they lost $2.8MM and they are the business of the year?

Is this your bank?

You can sleep safe and sound, with Bert Knotts holding your money.

Then again, by year end this place could be floating in Long Island Sound

This place is  junk

Flagstar Bank Troy Michigan

July 27, 2011

This is Joe Campanelli, he is the one who bankrupted Sovereign Bank

Joe took $266,000,00 of tax payer money

This bank is insolvent, take out you money before Joe Campanelli destroys another bank

Joe makes $6,400,000 a year to steal tax payer money

Joe lost $37,000,000 in Q4 2011 alone, this place is bankrupt!

Joe is sitting on $1,000,000,000 in junk loans

Joe makes $24,000 a day!

Joe makes $3,000 an hour

This disaster is on the problem bank list

Joe’s bank lost $1,100,000,000 in the last 3 years

Joe is one savvy banker


This is Sal Rinaldi he makes $900,000 for running this bank into the ground

Wonder why this clown is bald? He is sitting on $900,000,000 in Sh$$$t loans

Do you have this guy watching you money


Would you trust guy with guy with your money?

This is Joe Campanelli, he is the one who bankrupted Sovereign Bank, he took $266MM of tax payer money, to prop up this bankrupt place. This bank is insolvent, take out you money before Joe Campanelli destroys another bank

The took $266MM of you tax payer funded money which they won’t pay back

They pay him $6.4MM a year or $24,000 a day to run this place

That is $3,000 an hour

What does the average person make in Troy Michigan?

Scarface?

Flagstar Bank, Troy Michigan was founded in 1987.  The company took $266MM in tax payer funded bailout money, which it won’t or can’t pay back.  The company is on the problem bank list.  They were cited for unsafe and unsound banking practices.  They have also have been restricted from further growth, by the  regulators.

Assets are $13.6M, with supposed equity of $1.3B in equity.

The actual equity is actually $1,034B, as the $266MM it took in tax payer bailout funds is debt, not so called preferred stock.

The problem loan portfolio, in relation to the equity base is staggering.  The problem loan portfolio is $898MM.  Get this, they have $628MM in OREO.  Imagine how much they have in classified loans on top of this.

So, they have $898MM in problem loans, supported by only $1,034B in equity.

FLAGSTAR IS BANKRUPT, THE FDIC IS BANKRUPT

This place is insolvent.

Why isn’t this bank shut down?

Maybe, because it owes the tax payer $266MM, which it can’t pay back.

This insolvent bank is being propped up by tax payer funding.

Not only are they good at making bad loans, they are great at losing money.

Net income was ($395MM) in FY10, ($513MM) in FY09 and ($275MM) in FY08.  They lost another $23MM in Q1 2011.

They lost another $75MM in Q2 2011.

Based on this stellar performance, how are they going to pay back the tax payer $266MM?  They can’t.

The efficiency ratio is 96%, this place loses money just opening the doors.  Do you think the operating leverage might be a little high?

Wow, they lost $1,183B in only 3 years!

The executives are in the process of bankrupting this place, at least they pay themselves well for doing it.

Joseph Campanelli        made $6.4MM

Paul Bargo                         made $750M

Salvatore Rinaldi            made $900M

Matthew Rostin               made $809k

That is great pay for wiping out the shareholders and running this place into the ground.

Joseph Campanelli has way no of paying back the $266MM, he took from the taxpayer, but he gets paid $6.4MM.

Joseph, the tax payer wants their $266MM back, where is it?

Take a look at this, the bank paid $13.3MM in interest to the tax payer on the $266MM they took, but these 4 paid themselves $8,859M.   That is good pay for losing $395MM.  Based on this pathetic performance, this must be the most most over paid management team in the country.

Joseph Campanelli makes $24,000 a day, he makes more than the average person in Flint MI makes in a year.

The stock is $1.25 a share, ROE is (23%), with a market capitalization of $656MM.  The regulators have prohibited them from paying dividends.

They better pay this management team well, the investors would hate to lose them.

Moody’s rating (July 2011) D+ for financial strength  Ba1/not prime for deposits    Outlook   Negative

Do you have money in this bank ?

Ba1/not prime for deposits, is probably not a place one should keep their money.

Liberty Bank West Des Moines Iowa

July 26, 2011

Here is the new site

capital2risk.com

Bill Krause got his bank on the problem  bank list

Bill likes to engage in unsafe and unsound banking practices and violations of law

Bill Kraus owns THE WORST BANK in Iowa

Bill Krause has $110,000,000 in bad loans and only $24,000,000 in equity

This bank is bankrupt, Bill Kraus ran this disaster into the ground

Bill likes to Cum and go, he practices unsafe banking with no prophylactics.


Bill Krause practices unsafe and unsound banking practices and violations of the law.

.

Liberty Bank, West Des Moines Iowa was founded in 1972.  This bank tanked in record time.  They were recently put on the problem bank list.  They were given a cease and desist order, as well as cited for unsafe and unsound banking practices and violations of law.  The bank is operating with inadequate capital, excessive classified assets and management that is detrimental to the company.  The Texas ratio is 188%.

Assets are $1B with equity of $29MM.

The problem loan portfolio, in relation to the remaining equity position is staggering.  The problem loans are $99MM.

With $99MM in problem loans and $29MM in equity, this bank is bankrupt.

Why isn’t this place shut down?

Why did it take so long for the regulators to even put it on the problem bank list?

The bank lost $45MM in FY10, that might have been an indication that there was a problem.  Eradicating 31% of the equity in one year, might be an indicator of trouble.

Bill Kraus lost $45,000,000 in 2011, Bill wiped out the stockholders

Bill Krause and John Rathjen, did an admirable job of running this place into the ground and wiping out the shareholders in record time.  They must be the detrimental management that the regulators were referring to.

Speaking of Cum and Go, Bill came all over the stockholders

He wiped out 314% of the equity in 3 years

How is that for blowing your load?

This management team has the ability to lose tons of money and make a lot of bad loans.

Kum and go?

This is John Rathjen this bald clown, wiped out all the shareholders and made $100,000,000 in bad loans

Why is this dope smiling? He gets paid got money to destroy this place

The bank forgot to post their financial statements on the website.  I guess they are not at liberty to share them.

Hopefully this is not your bank.

Liberty is looking bankrupt

Take your money out of this bankrupt disaster

Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 1 of 17
UNITED STATES OF AMERICA
Before the
OFFICE OF THRIFT SUPERVISION
)
In the Matter of ) Order No.: CN 11-23
)
)
LIBERTY BANK, FSB ) Effective Date: July 14, 2011
)
)
West Des Moines, Iowa )
OTS Docket No. 15717 )
)
ORDER TO CEASE AND DESIST
WHEREAS, Liberty Bank, FSB, West Des Moines, Iowa, OTS Docket No. 15717
(Association), by and through its Board of Directors (Board), has executed a Stipulation and
Consent to Issuance of an Order to Cease and Desist (Stipulation); and
WHEREAS, the Association, by executing the Stipulation, has consented and agreed to
the issuance of this Order to Cease and Desist (Order) by the Office of Thrift Supervision (OTS)
pursuant to 12 U.S.C. § 1818(b); and
WHEREAS, pursuant to delegated authority, the OTS Regional Director for the Central
Region (Regional Director) is authorized to issue Orders to Cease and Desist where a savings
association has consented to the issuance of an order.
NOW, THEREFORE, IT IS ORDERED that:
Cease and Desist.
1. The Association, its directors, officers, employees and agents , shall cease and desist
from any action (alone or with others) for or toward causing, bringing about, participating in,
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 2 of 17
counseling, or the aiding and abetting the unsafe or unsound practices and/or violations of law or
regulation that resulted in the Association: (a) operating with an inadequate level of capital
protection for the volume, type and quality of assets held by the Association; (b) operating with
an excessive level of adversely classified assets; (c) failing to accurately reflect the financial
condition of the Association in Thrift Financial Reports; and (d) operating with management
whose policies and practices have been detrimental to the Association as described in the OTS
Comprehensive Limited Report of Examination dated April 11, 2011 (2011 Limited ROE).
Capital.
2. By September 30, 2011, the Association shall have and maintain: a Tier 1 (Core) Capital
Ratio equal to or greater than nine percent (9%) after the funding of an adequate Allowance for
Loan and Lease Losses (ALLL) and a Total Risk-Based Capital Ratio equal to or greater than
twelve percent (12%).1
Capital and Business Plan.
3. By August 31, 2011, the Association shall submit to the Regional Director a written plan
(Capital and Business Plan) for the period beginning with July 1, 2011 through December 31,
2013 addressing the requirements of this Order and including capital enhancement strategies
necessary for the Association to have and maintain capital at the levels prescribed in
Paragraph 2. At a minimum, the Capital and Business Plan shall:
(a) identify the specific sources and methods by which additional capital will be
raised to achieve and maintain the Association’s capital at the levels prescribed in
Paragraph 2;
1 The requirement in Paragraph 2 to have and maintain a specific capital level means that the Association may not be
deemed to be “well-capitalized” for purposes of 12 U.S.C. §1831o and 12 C.F.R. Part 565, pursuant to 12 C.F.R.
§565.4(b)(1)(iv).
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 3 of 17
(b) detail the Association’s capital preservation and enhancement strategies with
specific narrative goals;
(c) contain operating strategies to improve core earnings;
(d) include quarterly financial projections (balance sheet and income statement),
including Tier 1 (Core) and Total Risk Based Capital Ratios, for the period covered by
the Capital and Business Plan;
(e) identify all relevant assumptions made in formulating the Capital and Business
Plan; and
(f) indicate that all documentation supporting the assumptions and projections in the
Capital and Business Plan shall be retained by the Association.
4. Upon receipt of written notice of non-objection from the Regional Director to the Capital
and Business Plan, the Board shall promptly approve the Capital and Business Plan, and the
Association shall immediately implement and adhere to the Capital and Business Plan. A copy
of the Capital and Business Plan shall be provided to the Regional Director within seven (7) days
after Board approval.
5. Any material modifications2 to the Capital and Business Plan must receive the prior
written non-objection of the Regional Director. The Association shall submit proposed material
modifications to the Regional Director at least forty-five (45) days prior to implementation.
6. By December 31, 2011, and each December 31st thereafter, the Capital and Business
Plan shall be updated and submitted to the Regional Director pursuant to Paragraph 3 above and
shall incorporate the Association’s budget plan and profit projections for the next two (2) fiscal
2 A modification shall be considered material under this Paragraph if the Association (a) plans to engage in any
activity that is inconsistent with the Capital and Business Plan; or (b) exceeds the level of any activity contemplated
in the Capital and Business Plan by more than ten percent (10%).
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 4 of 17
years taking into account any revisions to the Association’s loan, investment and operating
policies.
Capital and Business Plan Variance Reports.
7. Within fifty-five (55) days after the end of each quarter, beginning with the first quarter
ending after implementation of the Capital and Business Plan, the Board shall review written
quarterly variance reports on the Association’s compliance with its Capital and Business Plan
(Variance Reports). The minutes of the Board meeting shall fully document the Board’s review
and discussion. The Variance Reports shall:
(a) identify variances in the Association’s actual performance during the preceding
quarter as compared to the projections set forth in the Capital and Business Plan;
(b) contain an analysis and explanation of identified variances; and
(c) discuss the specific measures taken or to be taken by the Association to address
identified variances.
8. A copy of each Variance Report shall be provided to the Regional Director within seven
(7) days after the Board meeting at which it was reviewed and discussed.
Contingency Plan.
9. Within fifteen (15) days after: (a) the Association fails to meet the capital requirements
prescribed in Paragraph 2; (b) the Association fails to comply with the Capital and Business Plan
prescribed in Paragraph 3; or (c) any written request from the Regional Director, the Association
shall submit a written contingency plan (Contingency Plan) that is acceptable to the Regional
Director.
10. The Contingency Plan shall detail the actions to be taken, with specific time frames, to
achieve one of the following results by the later of the date of receipt of all required regulatory
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 5 of 17
approvals or sixty (60) days after the implementation of the Contingency Plan: (a) merger with,
or acquisition by, another federally insured depository institution or holding company thereof; or
(b) voluntary dissolution by filing an appropriate application with the OTS in conformity with
applicable laws, regulations and regulatory guidance.
11. Upon receipt of written notification from the Regional Director, the Association shall
immediately implement and adhere to the Contingency Plan. The Association shall provide the
Regional Director with written status reports detailing the Association’s progress in
implementing the Contingency Plan by no later than the first (1st) and fifteenth (15th) of each
month following implementation of the Contingency Plan.
Problem Assets.
12. By August 31, 2011, the Association shall submit to the Regional Director a detailed,
written plan with specific strategies, targets and timeframes to reduce3 the Association’s level of
problem assets4 (Classified Asset Reduction Plan). The Classified Asset Reduction Plan, at a
minimum, shall include:
(a) quarterly targets for the level of classified assets as a percentage of Tier 1 (Core)
capital plus ALLL;
(b) a description of the methods for reducing the Association’s level of classified
assets to the established targets; and
(c) all relevant assumptions and projections based on a best-case scenario, a worstcase
scenario, and a most probable case scenario, and documentation supporting such
assumptions and projections.
3 For purposes of this Paragraph, “reduce” means to collect, sell, charge off, or improve the quality of an asset
sufficient to warrant its removal from adverse criticism or classification.
4 The term “problem assets” shall include all classified assets and assets designated as special mention.
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 6 of 17
13. Upon receipt of written notification from the Regional Director that the Classified Asset
Reduction Plan is acceptable, the Board shall promptly approve the Classified Asset Reduction
Plan, and the Association shall immediately implement and adhere to the Classified Asset
Reduction Plan. The Board’s review of the Classified Asset Reduction Plan shall be documented
in the Board meeting minutes.
14. By August 31, 2011, the Association shall develop individual written specific workout
plans (Asset Workout Plans) for each Problem Asset or group of Problem Assets to any one
borrower or loan relationship of Two Million Dollars ($2,000,000.00) or greater .
15. Within fifty-five (55) days after the end of each quarter, beginning with the quarter
ending June 30, 2011, the Association shall submit a quarterly written asset status report
(Quarterly Asset Report) to the Board. The Board’s review of the Quarterly Asset Report shall
be documented in the Board meeting minutes. The Quarterly Asset Report shall include, at a
minimum:
(a) the current status of all Asset Workout Plans;
(b) the ratio of classified assets to Tier 1 (Core) capital plus ALLL;
(c) a comparison of classified assets at the current quarter end with the preceding
quarter;
(d) a breakdown of classified assets by type and risk factor
(e) an assessment of the Association’s compliance with the Classified Asset
Reduction Plan;
(f) a discussion of the actions taken during the preceding quarter to reduce the
Association’s level of classified assets; and
(g) any recommended revisions or updates to the Classified Asset Reduction Plan.
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 7 of 17
16. Within sixty (60) days after the end of each quarter, a copy of the Quarterly Asset Report
shall be provided to the Regional Director.
Restriction on Lending.
17. Effective immediately, the Association shall not extend, directly or indirectly, without
prior written non-objection from the Regional Director, any additional credit to, or for the benefit
of, any borrower who has loan(s) or other extension(s) of credit from the Association that in the
aggregate have an unpaid principal amount exceeding Two Million Dollars ($2,000,000) if one
or more loan or loans is a Problem Asset. The Association’s expenses incurred in connection
with its real estate owned, including in-substance foreclosures, are not covered by this Paragraph.
18. Effective immediately, the Association shall not extend any credit to a borrower to
facilitate the sale of real estate owned, without the prior written non-objection of the Regional
Director, where the loan amount exceeds Two Million Dollars ($2,000,000).
19. Effective immediately, the Association shall not extend, directly or indirectly, any
additional credit to or for the benefit of any borrower who has loans with the Association that are
adversely classified as “Substandard” or “Doubtful” unless prior to extending such additional
credit whether in the form of a renewal, extension, or further advance of funds, such additional
credit shall be approved by the Board or a designated committee thereof, who shall certify in
writing:
(a) the reasons why the extension of such credit is in the best interests of the
Association using current underwriting information, such as updated borrower financial
information and a current appraisal, if applicable; and
(b) that an appropriate workout plan has been developed and will be implemented in
conjunction with the additional credit to be extended.
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
Page 8 of 17
The signed certification shall be made a part of the minutes of the meeting of the Board or
designated committee with a copy retained in the borrower’s credit file. The Association’s
expenses incurred in connection with its real estate owned, including in-substance foreclosures,
are not covered by this Paragraph.
Concentrations of Credit.
20. By August 31, 2011, the Association shall revise its written program for identifying,
monitoring, and controlling risks associated with concentrations of credit (Credit Concentration
Program) to ensure that it is acceptable to the Regional Director and addresses all corrective
actions set forth in the June 28, 2010 Comprehensive Report of Examination relating to
concentrations of credit. The Credit Concentration Program shall comply with all applicable
laws, regulations and regulatory guidance and shall:
(a) establish comprehensive concentration limits expressed as a percentage of Tier 1
(Core) Capital plus allowance for loan and lease losses (ALLL), and document the
appropriateness of such limits based on the Association’s risk profile;
(b) establish stratification categories of the Association’s concentrations of credit,
such as land loans, construction loans, income property loans, nonresidential real estate
loans, commercial loans, and establish enhanced risk analysis, monitoring, and
management for each stratification category;
(c) contain specific review procedures and reporting requirements, including written
reports to the Board, designed to identify, monitor, and control the risks associated with
concentrations of credit and periodic market analysis for the various property types and
geographic markets represented in its portfolio; and
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West Des Moines, Iowa
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(d) contain a written action plan, including specific time frames, for bringing the
Association into compliance with its concentration of credit limits.
21. Upon receipt of written notification from the Regional Director that the Credit
Concentration Program is acceptable, the Board shall promptly approve the Credit Concentration
Program, and the Association shall immediately implement and adhere to the Credit
Concentration Program. The Board’s review of the Credit Concentration Program shall be
documented in the Board meeting minutes.
22. Within fifty-five (55) days after the end of each quarter, beginning with the quarter
ending June 30, 2011, the Board shall review the appropriateness of the Association’s
concentration limits given current conditions and the Association’s compliance with its Credit
Concentration Program including the written action plan to revise the current level of
concentrations. The Board’s review of the Association’s Credit Concentration Program shall be
documented in the Board meeting minutes.
Liquidity Management.
23. By August 31, 2011, the Association shall revise its liquidity and funds management
policy (Liquidity Management Policy) to address all corrective actions set forth in the 2011
Limited ROE relating to liquidity and funds management. The Liquidity Management Policy
shall comply with all applicable laws, regulations and regulatory guidance.
24. The Liquidity Management Policy shall include a Contingency Funding Plan, which
shall, at a minimum, include:
(a) alternative funding sources for meeting extraordinary demands or to provide
liquidity in the event the sources identified are insufficient. Such alternative funding
sources must consider, at a minimum, the selling of assets, obtaining secured lines of
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
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credit, recovering charged-off assets, injecting additional equity capital, and the priority
of their implementation; and
(b) retention of investment securities and other identified categories of investments
that can be liquidated or pledged in a reasonably short period of time and at minimal
expense to the Association in amounts sufficient (as a percentage of the Association’s
total assets) to ensure the maintenance of the Association’s liquidity position at a level
consistent with short- and long-term liquidity objectives.
25. By August 31, 2011, the Association shall submit its Liquidity Management Policy to the
Regional Director for review and comment. Upon receipt of written notification from the
Regional Director that the Liquidity Management Policy is acceptable, the Board shall promptly
approve the Liquidity Management Policy and the Association shall implement and adhere to the
Liquidity Management Policy. The Board’s review of the Liquidity Management Policy shall be
documented in the Board meeting minutes.
26. Effective immediately, the Association shall submit to the Regional Director written
assessments of its current liquidity position (Liquidity Report) pursuant to a schedule to be
established by the Regional Director.
The Liquidity Report shall be acceptable to the Regional Director and, at a minimum, include:
(a) cash on hand;
(b) a maturity schedule of certificates of deposit, including, but not limited to, large
uninsured deposits and brokered deposits;
(c) the volatility of demand deposits, including escrow deposits;
(d) a schedule of all funding obligations, including money market accounts, unfunded
loan commitments, outstanding lines of credit and outstanding letters of credit;
Liberty Bank, FSB
West Des Moines, Iowa
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(e) a listing of funding sources, including federal funds sold; unpledged assets and
assets available for sale; and borrowing lines by lender, including original amount,
remaining availability, type and book value of collateral pledged, terms, and maturity
date, if applicable;
(f) an analysis of the continuing availability and volatility of present funding sources;
(g) an analysis of the impact of decreased cash flow from the Association’s loan
portfolio resulting from delinquent and non-performing loans; and
(h) an analysis of the impact of decreased cash flow from the sale of loans or loan
participations.
27. Within five (5) days of receipt of communication from a Federal Home Loan Bank,
Federal Reserve Bank, correspondent bank, or government agency with collateralized public unit
deposits regarding changes in the Association’s borrowing and/or collateral requirements, the
Association shall notify the Regional Director of such communication.
Management Study.
28. By August 31, 2011, the Association shall retain an independent third-party, acceptable
to the Regional Director, to conduct a management study as outlined in Paragraph 29
(Management Study).
29. In light of the Association’s risk profile and activities, the Management Study shall, at a
minimum, include:
(a) assessment of the skills and experience possessed by the current members of the
Board in connection with the Association’s risk profile and activities;
(b) assessment of the Board’s independence and fulfillment of its oversight function;
(c) assessment whether the capabilities of the Board as a whole would be enhanced
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
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through the addition of persons with particular skills and experience;
(d) assessment of the Board’s succession plan;
(e) establishment of minimum qualifications for directors of the Association;
(f) development of an education plan for the Board that identifies the training to be
provided, which shall include training relating to a director’s fiduciary responsibilities
and the provision of information necessary to perform director responsibilities as
contained in regulatory guidance;
(g) assessment of the current Senior Executive Officers,5 the Association’s
organizational structure, and staffing levels of the Association;
(h) identification of present and future staffing requirements for each business line of
the Association commensurate with the Association’s Business Plan;
(i) evaluation of the performance of the Association’s current Senior Executive
Officers and members of the Board , including an assessment of whether compensation is
commensurate with job duties and responsibilities in compliance with 12 C.F.R. §
563.161(b);
(j) establishment of quantitative and qualitative standards by which the effectiveness
of Senior Executive Officers will be measured; and
(k) assessment of the adequacy of communication between Senior Executive Officers
and the Board, and of the quality and timeliness of reports to the Board.
30. By November 15, 2011, the Management Study shall be completed and forwarded
simultaneously to the Board and to the Regional Director.
5 The term “Senior Executive Officer” is defined at 12 C.F.R. § 563.555.
Liberty Bank, FSB
West Des Moines, Iowa
Order to Cease and Desist
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Violations of Law.
31. By August 31, 2011, the Association shall ensure that all violations of law and/or
regulation discussed in the 2011 Limited ROE are corrected and that adequate policies,
procedures and systems are established or revised and thereafter implemented to prevent future
violations.
Growth.
32. Effective immediately, the Association shall not increase its total average assets during
any quarter in excess of an amount equal to net interest credited on deposit liabilities during the
prior quarter without the prior written non-objection of the Regional Director.
Golden Parachute Payments.
33. Effective immediately, the Association shall not make any golden parachute payment6
unless, with respect to such payment, the Association has complied with the requirements of
12 C.F.R. Part 359.
Directorate and Management Changes.
34. Effective immediately, the Association shall comply with the prior notification
requirements for changes in directors and Senior Executive Officers set forth in 12 C.F.R.
Part 563, Subpart H.
Employment Contracts and Compensation Arrangements.
35. Effective immediately, the Association shall not enter into any new contractual
arrangement or renew, extend, or revise any contractual arrangement relating to compensation or
benefits for any director or Senior Executive Officer of the Association, unless it first provides
the Regional Director with not less than thirty (30) days prior written notice of the proposed
6 The term “golden parachute payment” is defined at 12 C.F.R. § 359.1(f).
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transaction. The notice to the Regional Director shall include a copy of the proposed
employment contract or compensation arrangement or a detailed, written description of the
compensation arrangement to be offered to such director or Senior Executive Officer, including
all benefits and perquisites. The Board shall ensure that any contract, agreement, or arrangement
submitted to the Regional Director fully complies with the requirements of 12 C.F.R. Part 359,
12 C.F.R. §§ 563.39 and 563.161(b), and 12 C.F.R. Part 570 – Appendix A.
Third Party Contracts.
36. Effective immediately, the Association shall not enter into any arrangement or contract
with a third party service provider that is significant to the overall operation or financial
condition of the Association7 or outside the Association’s normal course of business unless, with
respect to each such contract, the Association has: (a) provided the Regional Director with a
minimum of thirty (30) days prior written notice of such arrangement or contract and a written
determination that that the arrangement or contract complies with the standards and guidelines
set forth in OTS Thrift Bulletin 82a; and (b) received written notice of non-objection from the
Regional Director.
Brokered Deposits.
37. Effective immediately, the Association shall comply with the requirements of 12 C.F.R.
§ 337.6(b). The Association shall provide to the Regional Director a copy of any waiver request
submitted to the Federal Deposit Insurance Corporation.
7 A contract will be considered significant to the overall operation or financial condition of the Association where
the annual contract amount equals or exceeds two percent (2%) of the Association’s total capital, where there is a
foreign service provider, or where it involves information technology that is critical to the Association’s daily
operations without regard to the contract amount.
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West Des Moines, Iowa
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Dividends and Other Capital Distributions.
38. Effective immediately, the Association shall not declare or pay dividends or make any
other capital distributions, as that term is defined in 12 C.F.R. § 563.141, without receiving the
prior written approval of the Regional Director in accordance with applicable regulations and
regulatory guidance. The Association’s written request for approval shall be submitted to the
Regional Director at least thirty (30) days prior to the anticipated date of the proposed
declaration, dividend payment or distribution of capital.
Transactions with Affiliates.
39. Effective immediately, the Association shall not engage in any new transaction with an
affiliate unless, with respect to each such transaction, the Association has complied with the
notice requirements set forth in 12 C.F.R. § 563.41(c)(4), which shall include the information set
forth in 12 C.F.R. § 563.41(c)(3). The Board shall ensure that any transaction with an affiliate
for which notice is submitted pursuant to this Paragraph, complies with the requirements of 12
C.F.R. § 563.41 and Regulation W, 12 C.F.R. Part 223.
Effective Date, Incorporation of Stipulation.
40. This Order is effective on the Effective Date as shown on the first page. The Stipulation
is made a part hereof and is incorporated herein by this reference.
Duration.
41. This Order shall remain in effect until terminated, modified, or suspended, by written
notice of such action by the OTS, acting by and through its authorized representatives.
Time Calculations.
42. Calculation of time limitations for compliance with the terms of this Order run from the
Effective Date and shall be based on calendar days, unless otherwise noted.
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43. The Regional Director or an OTS authorized representative may extend any of the
deadlines set forth in the provisions of this Order upon written request by the Association that
includes reasons in support for any such extension. Any OTS extension shall be made in writing.
Submissions and Notices.
44. All submissions, including any reports, to the OTS that are required by or contemplated
by this Order shall be submitted within the specified timeframes.
45. Except as otherwise provided herein, all submissions, requests, communications,
consents, or other documents relating to this Order shall be in writing and sent by first class U.S.
mail (or by reputable overnight carrier, electronic facsimile transmission, email or hand delivery
by messenger) addressed as follows:
(a) To the OTS:
Regional Director
Office of Thrift Supervision
One South Wacker Drive, Suite 2000
Chicago, Illinois 60606
Facsimile: (312) 917-5001
(b) To the Association:
Chairman of the Board and President
Liberty Bank, FSB
6400 Westown Parkway
West Des Moines, Iowa 50266
Facsimile: (515) 223-8555
Courtesy Copy to:
John Rathjen
President & CEO
Liberty Bank, FSB
6400 Westown Parkway
West Des Moines, Iowa 50266
Facsimile: (515) 223-8555
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West Des Moines, Iowa
Order to Cease and Desist
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Transfer Date
46. Following the Transfer Date, see Dodd-Frank Wall Street Reform and Consumer
Protection Act, Pub. Law No. 111-203, § 311, 124 Stat. 1520 – 21 (2010), all submissions,
requests, communications, consents or other documents relating to this Order shall be directed to
the Comptroller of the Currency, or to the individual, division, or office designated by the
Comptroller of the Currency.
Successors and Assigns.
47. All references to the OTS in this Memorandum shall also mean any of the OTS’s
predecessors, successors, and assigns.
No Violations Authorized.
48. Nothing in this Order or the Stipulation shall be construed as allowing the Association, its
Board, officers, or employees to violate any law, rule, or regulation.
IT IS SO ORDERED.
OFFICE OF THRIFT SUPERVISION
By: /s/
Daniel T. McKee
Regional Director, Central Region
Liberty Bank, FSB
West Des Moines, Iowa
Stipulation and Consent to Issuance of Order to Cease and Desist
Page 1 of 5
UNITED STATES OF AMERICA
Before the
OFFICE OF THRIFT SUPERVISION
)
In the Matter of ) Order No.: CN 11-23
)
)
LIBERTY BANK, FSB ) Effective Date: July 14, 2011
)
)
West Des Moines, Iowa )
OTS Docket No. 15717 )
)
STIPULATION AND CONSENT TO ISSUANCE OF ORDER TO CEASE AND DESIST
WHEREAS, the Office of Thrift Supervision (OTS), acting by and through its Regional
Director for the Central Region (Regional Director), and based upon information derived from
the exercise of its regulatory and supervisory responsibilities, has informed Liberty Bank, FSB,
West Des Moines, Iowa, OTS Docket No. 15717 (Association) that the OTS is of the opinion
that grounds exist to initiate an administrative proceeding against the Association pursuant to 12
U.S.C. § 1818(b);
WHEREAS, the Regional Director, pursuant to delegated authority, is authorized to
issue Orders to Cease and Desist where a savings association has consented to the issuance of an
order; and
WHEREAS, the Association desires to cooperate with the OTS to avoid the time and
expense of such administrative cease and desist proceeding by entering into this Stipulation and
Consent to the Issuance of Order to Cease and Desist (Stipulation) and, without admitting or
Liberty Bank, FSB
West Des Moines, Iowa
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denying that such grounds exist, but only admitting the statements and conclusions in Paragraphs
1 and 2 below concerning Jurisdiction, hereby stipulates and agrees to the following terms:
Jurisdiction.
1. The Association is a “savings association” within the meaning of 12 U.S.C. § 1813(b)
and 12 U.S.C. § 1462(4). Accordingly, the Association is an “insured depository institution” as
that term is defined in 12 U.S.C. § 1813(c).
2. Pursuant to 12 U.S.C. § 1813(q), the Director of the OTS is the “appropriate Federal
banking agency” with jurisdiction to maintain an administrative enforcement proceeding against
a savings association. Therefore, the Association is subject to the authority of the OTS to initiate
and maintain an administrative cease and desist proceeding against it pursuant to
12 U.S.C. § 1818(b).
OTS Findings of Fact.
3. Based on a limited examination of the Association dated April 11, 2011 (2011 Limited
ROE), the OTS finds that the Association has engaged in unsafe or unsound banking practices
and/or violations of law or regulation, that resulted in the Association: (a) operating with an
inadequate level of capital protection for the volume, type and quality of assets held by the
Association; (b) operating with an excessive level of adversely classified assets; (c) failing to
accurately reflect the financial condition of the Association in Thrift Financial Reports; and (d)
operating with management whose policies and practices have been detrimental to the
Association as described in the 2011 Limited ROE.
Consent.
4. The Association consents to the issuance by the OTS of the accompanying Order to
Cease and Desist (Order). The Association further agrees to comply with the terms of the Order
Liberty Bank, FSB
West Des Moines, Iowa
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upon the Effective Date of the Order and stipulates that the Order complies with all requirements
of law.
Finality.
5. The Order is issued by the OTS under 12 U.S.C. § 1818(b). Upon the Effective Date, the
Order shall be a final order, effective, and fully enforceable by the OTS under the provisions of
12 U.S.C. § 1818(i).
Waivers.
6. The Association waives the following:
(a) the right to be served with a written notice of the OTS’s charges against it as
provided by 12 U.S.C. § 1818(b) and 12 C.F.R. Part 509;
(b) the right to an administrative hearing of the OTS’s charges as provided by
12 U.S.C. § 1818(b) and 12 C.F.R. Part 509;
(c) the right to seek judicial review of the Order, including, without limitation, any
such right provided by 12 U.S.C. § 1818(h), or otherwise to challenge the validity of the
Order; and
(d) any and all claims against the OTS, including its employees and agents, and any
other governmental entity for the award of fees, costs, or expenses related to this OTS
enforcement matter and/or the Order, whether arising under common law, federal statutes
or otherwise.
OTS Authority Not Affected.
7. Nothing in this Stipulation or accompanying Order shall inhibit, estop, bar, or otherwise
prevent the OTS from taking any other action affecting the Association, or any institution
affiliated party, if at any time the OTS deems it appropriate to do so to fulfill the responsibilities
Liberty Bank, FSB
West Des Moines, Iowa
Stipulation and Consent to Issuance of Order to Cease and Desist
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placed upon the OTS by law.
Other Governmental Actions Not Affected.
8. The Association acknowledges and agrees that its consent to the issuance of the Order is
solely for the purpose of resolving the matters addressed herein, consistent with Paragraph 7
above, and does not otherwise release, discharge, compromise, settle, dismiss, resolve, or in any
way affect any actions, charges against, or liability of the Association that arise pursuant to this
action or otherwise, and that may be or have been brought by any governmental entity other than
the OTS.
Miscellaneous.
9. The laws of the United States of America shall govern the construction and validity of
this Stipulation and of the Order.
10. If any provision of this Stipulation and/or the Order is ruled to be invalid, illegal, or
unenforceable by the decision of any Court of competent jurisdiction, the validity, legality, and
enforceability of the remaining provisions hereof shall not in any way be affected or impaired
thereby, unless the Regional Director in his or her sole discretion determines otherwise.
11. All references to the OTS in this Stipulation and the Order shall also mean any of the
OTS’s predecessors, successors, and assigns.
12. The section and paragraph headings in this Stipulation and the Order are for convenience
only and shall not affect the interpretation of this Stipulation or the Order.
13. The terms of this Stipulation and of the Order represent the final agreement of the parties
with respect to the subject matters thereof, and constitute the sole agreement of the parties with
respect to such subject matters.
14. The Stipulation and Order shall remain in effect until terminated, modified, or suspended
Liberty Bank, FSB
West Des Moines, Iowa
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in writing by the OTS, acting through its Regional Director or other authorized representative.
Signature of Directors/Board Resolution.
15. Each Director signing this Stipulation attests that he or she voted in favor of a Board
Resolution authorizing the consent of the Association to the issuance of the Order and the
execution of the Stipulation. This Stipulation may be executed in counterparts by the directors
after approval of execution of the Stipulation at a duly called board meeting.
WHEREFORE, the Association, by its directors, executes this Stipulation.
LIBERTY BANK, FSB Accepted by:
West Des Moines, Iowa Office of Thrift Supervision
/s/ By: /s/
William A. Krause, Chairman Daniel T. McKee
Regional Director, Central Region
/s/ Date: See Effective Date on page 1
John Rathjen, Director
/s/
Dennis N. Folden, Director
/s/
Mathias P. Manning, Director
/s/
Brett J. Nuckolls, Director
RESIGNED
Michael E. Sarno, Director
/s/
James S. Swift, Director

LegacyTexas Bank Plano Texas

July 24, 2011

 

That is a comforting statistic

LegacyTexas Bank, Plano Texas was founded in 1963.  The company is on the problem bank list.  The Texas ratio is 33%.

Assets are $1.3B with assets of $146MM.

The problem loan portfolio is $58MM.

The problem loans have the potential to severely erode the capital base.

It will be interesting to see if this place survives.

EVA Bank Eva Alabama

July 24, 2011

This is Dewayne Morris his bank is on the problem bank list

Dewayne like to engage in hazardous commercial lending

This is one of the worst banks in the state

This disaster is insolvent.

Check out the website, it looks like Dewayne like to finance vacant land


Richard George is kicking down some hazardous commercial real estate lending according to the FDIC

EVA Bank, Eva Alabama was founded in 1986.  The company is on the problem bank list for hazardous commercial real estate lending.  The Texas ratio is 90%, making it one of the worst banks in the state.

Assets are $371MM and equity is $21MM.

The problem loan portfolio is $26MM.

This place is insolvent.

Why is it not shut down?

Richard George, the CEO did an admirable job running this place into the ground.

How is the $16MM stock offering going?

Their motto is “every valuable advantage”.  It looks like they used every valuable advantage in making bad real estate loans.

Malvern Federal Savings Bank Paoli Pennsylvania

July 24, 2011

Ronald Anderson got the bank on the problem bank list for negligent commercial real lending and gets paid $242k to do it, not bad.

This place survived the Great Depression, will it survive Ronald Anderson?

Malvern Federal Savings Bank, Malvern Pennsylvania was founded in 1887.  The company is on the problem bank list for deficient commercial real estate lending.

Assets are $668MM and equity is $52M.

The problem loan portfolio is $20MM.

This high level of problem loans, could severely impact the equity base.

At least the executives pay themselves well.

Ronald Anderson   made $242k

Dennis Boyle            made $206k

Gerard McTear       made $149k

That is pretty good pay for wiping out 19% of the equity position and getting placed on the problem bank list.

North American Saving Bank Grandview Missouri

July 23, 2011

 

This says it all for this disaster

 

North American Savings Bank Grandview Missouri was founded in 1923.  It is on the problem bank list. The stock is facing delisting.

Assets are $1.4B with equity of $169MM.

The problem loan portfolio is $63MM.

The problem loans could severely impact the equity position.

The executives may be running this place into the ground, but they still pay themselves well.

David Hancock made $600k

Rhonda Nytius   made $180k

Keith Cox              made $355k

Bruce Thielen     made  $720k

David Hancock had a bonus of $300k and Bruce Thielen had a bonus of $500k.  That’s pretty good, you get a bonus for being on the problem bank list.

This is good pay for wiping out the stockholders, getting on the problem bank list and racking up tons of bad loans.

Is this your bank?

Academy Bank Colorado Springs Colorado

July 23, 2011

 

Wonder why the FDIC is bankrupt?

Academy Bank won’t even pay interest on the $146MM they took from the tax payer

Academy Bank, Colorado Springs Colorado was founded in 1966.  The company is on the problem bank list.  The Texas ratio is 69%.  The banks parent Dickenson Financial Corporation took $146MM in tax payer funded bailout money, which it hasn’t repaid.  It hasn’t even paid interest on these funds since 5/09.

Assets are $300MM and equity is $50MM.

The problem loan portfolio is $43MM.

This place is insolvent.

Why isn’t this place closed down?

This place has serious problems.

Is this your bank?

Cornerstone Bank Atlanta Georgia

July 23, 2011

Here is the new site

capital2risk.com

This is Chris Burnett the CEO

Chris Burnett is the CEO who got this place on the problem bank list

They are also on the under capitalized bank list, that is a serious problem

It didn’t take Chris Burnett long to wipe this place out

Chris is sitting in $28,000,000 in junk loans with only $18,000,000 equity

Not sure why he smiling, he has a serious problem 

Do you have money in this bankrupt disaster? You are screwed!

This is Charles Yorke

Charles has helped wipe this place out

This is Frank Roach CFO

Frank you piece of junk bank is on the under capitalized, do you think there is a problem

No wonder he is half bald

Frank you lost $3,336,000 in Q4 2011

Cornerstone Bank, Atlanta Georgia was founded in 2001.  The bank is on the problem list.  They are currently under capitalized.  The Texas ratio is 77%.

Assets are $477MM, while equity is $24MM

Capitalization is 6.09%, below the 8% threshold.

The problem loan portfolio is $20MM.

Here they are opening a new branch so they can make more bad loans

The problem loans alone should wipe out most of the equity.

Here they are working on the $28,000,000 in problem loans

This place should be closed.

Chris Burnett is the CEO and Charles Youke is the President.

Call Paige Beebe she will get you a sub prime mortgage 401-601-1263

It didn’t take these two long make a ton of bad loans and run this place into the ground.

Things must be good, you are on the problem bank and the under capitalized bank list, driving around in this thing

This place is a cornerstone?

Is this your bank?

Farmers Bank Ault Colorado

July 23, 2011

Is this comforting?

Farmers Bank Ault Colorado was founded in 2000.  The company is on the problem bank list.  The Texas ratio is 91%.

Assets are $242MM with equity of $22MM.

The problem loan portfolio is $15MM.

This place has problems.

I am thinking it should be closed down.

Check out the website, the thing is useless.

It didn’t take these farmers long to run this place into the ground.

Community Bank of Pitkins County Jasper Georgia

July 23, 2011

 

Don’t worry, this savvy member of the FDIC has it figured out, your money is safe with him keeping an eye on it

Community Bank of Pitkins County Georgia was founded in 2000.   The company is on the problem bank list.  That might explain the Texas ratio of 135%.

Assets are $290MM with equity of $20MM.

Take a look, they have $33MM in problem loans.

I don’t know about you, but this place looks bankrupt.

This bank needs to shut down.

Not only do they make a lot of bad loans, they are adept at losing money.

Take a look at the website, they have some attractive vacant lots for sale.

One might ask, who in their right mind finances vacant lots?

Well, John Trammell the CEO appears to have an affinity for them.

This is they guy who ran this place into the ground.

Do you have money here, it is secured by vacant lots.

First Community Bank of the Southwest Fort Meyers Florida

July 23, 2011

Banking where no shoes are requried is the motto?

Robert Guenzel, he does banking with no brains required

First Community Bank of the Southwest Fort Meyers Florida was founded in 1999.  The company is on the problem bank list, sounds like they made some unwise commercial real estate loans.  The Texas ratio is 186%.

Hire this guy he is good with kids?

Assets are $335MM and equity is $14MM.

The problem loan portfolio is $33MM.

Do you think this place is bankrupt?

A bank in Florida that is bankrupt and not shut down, shocking.

Robert Guenzel is the CEO.

Not only is this guy good at making bad loans, he can also lose money.

Net income was ($5MM) in FY10 and ($11MM) in FY09.

Their motto is “banking where no shoes are required”.

How about “banking where no brains are required”.

Do you have money in this thing?

Peoples Bank & Trust Troy Missouri

July 23, 2011

This is one of the worst banks in the state

David Thompson is got this place on the problem bank list

This place has $39,000,000 in bad loans

Take your money out of this disaster

The FDIC is on top of this place,David Thompson is one savvy banker

Incompetent commercial lending?

Show me why you would keep money in this bankrupt disaster

If you get caught by the FDIC you are incompetent

Peoples Bank & Trust Troy Missouri was founded in 1924.  They are on the problem bank list for incompetent commercial real estate lending.  That might explain the Texas ratio of 74%.

Assets are $401MM with equity of $31MM.

The problem loan portfolio is $32MM.

The Peoples Bank is looking insolvent, it might soon become the governments bank.

Check out the website, go to our leaders, there are none.  There are no leaders? Somebody made $32MM in bad loans and ran the company into the ground.

Could that person have been Donald Thompson, the Chairman?

I would be in hiding also, if I bankrupted an 87 year old financial institution.

This bank may have made it through the depression but it might not survive Donald Thompson.

Do you have money in this bankrupt bank.

Would you bank with or trust this place?

Pinnacle Bank Orange City Florida These fat cats took $4,000,000 of your money to play golf? Take your money out of this place it is bankrupt! Proud member of the problem bank list David Bridgeman took $4,000,000 of your money, he won’t even pay interest on your money at least he gets paid to play golf The fat slob on the left isn’t worried about paying back the $4,000,000

July 23, 2011

These A$$$holes should be in jail not on the golf course

Wow, these fat cats took $4.4MM of your money, which they haven’t even bothered to pay interest on since 5/10

It is good that they have time to play golf on the tax payers money

That cat on the left isn’t missing any meals thanks to TAARP, that stomach is all bought and paid for thanks to  the tax payer

These boys are down in the trenches or maybe bunkers

Using tax payer money to sponsor golf tournaments, who is better than these bankers, and they are bankrupt.

Do you think that clown in the middle has done any hazardous commercial real estate lending?

Excessive or Luxury Expenditure Policy

Entertainment:
Entertainment is defined as an activity that an Employee or Executive would use corporate funds for business development purposes relating to a current customer or prospective customer, or to further enhance the Company’s marketing efforts. 
 
Our policy is that all expenses incurred to the Bank would be for Company purposes, and used to drive business to the Bank. Occasional events such as taking customers or prospects on trips, playing golf, eating dinner, or taking them to other events the customer/prospect would find pleasurable is a necessary part of the Company’s marketing efforts and is not deemed as “luxury” or a violation of this Policy. These expenses should be documented and detailed as to the benefit derived by the Bank through the normal accounts payable process.
  
Events and parties focused on customers for the purpose of attracting their business would not fall under this Policy.

These boys are on the problem bank list and living large.

This fat cat bankster is David Bridgeman

David took $4,400,000 of your money which he can’t pay back

David Bridgeman hasn’t even paid interest on the money he stole since 5/10

David’s bank is on the problem bank list for hazardous commercial lending

Gotta love the pubic hair on his fce

Pinnacle Bank Orange City Florida was founded in 1999.  The company took $4.4MM in tax payer funded bailout money, which they won’t pay back.  Then again, they haven’t even paid interest on it since 5/10.  They are also on the problem bank list for hazardous commercial real estate lending. The Texas ratio is 73%.

Assets are $205MM and supposed equity is $13MM.

The actual equity is $8.6MM, as the $4.4MM in taxpayer funding they stole, is debt not preferred stock.

The problem loan portfolio is $17MM.

With $17MM in problem loans and $8.6MM in equity, this place is bankrupt.

How are they going to pay the tax payer back the $4.4MM?  They can’t even pay the interest.

David Bridgeman is the CEO.

This guy stole tax payer money, can’t pay it back and ran this place into the ground. Pinnacle?

Check out the website, here is a quote from David Bridgeman, “they wanted somebody who’s a real banker, down in the trenches, who has recently been examined by the FDIC”.

David, the FDIC examined you and put you on the problem bank list.

David, where is the $4.4MM you owe the tax payer, how about at least paying the interest.

Do you have money in this debacle.

They are the Pinnacle, of making bad loans.

Pilot Bank Tampa Florida

July 23, 2011

 

 

Pilot Bank Tampa Florida was founded in 1987. They are on the problem bank list.

The assets are $233MM and equity is $21MM.

This thing is looking pretty insolvent.

Roy Hellwege, the CEO, ran this place into the ground.

How did he make all these bad loans, he must have been on auto Pilot.

Check out the website, they have an impressive list of abandon buildings and vacant land.

This is your Pilot, take all of your money out of this bank, prepare for a crash landing.

This place is going for a Hellwege

Bank of Versailles Versailles Missouri

July 23, 2011

This happens because Dave Baumgartner is a moron

Dave Baumgartner destroyed a 129 year old bank , racking up $44MM in bad loans

He got them on the problem bank list, this guy is a disaster

Bank of Versailles, Versailles Missouri was founded in 1882.  The company is on the problem bank list.  The Texas ratio is 107%.

Assets are $294MM and equity is $27MM.

The problem loan portfolio is $44MM.

This bank is beyond bankrupt.

How about closing this bank down.

This team is good at banking bad loans and losing money.

Net income was ($5.4MM) in FY10 and ($6.8MM) in FY09.

Dave Baumgartner is the CEO.

This bank survived the great depression but it can’t survive Dave Baumgarten.

He bankrupted a 129 year old bank.

Take a look at the website, they won’t tell you who the CEO is, but they have a ton of vacant land for sale.

Do you have money in this bankrupt entity?

Farmers Exchange Bank Louisville Alabama

July 23, 2011

These farmers got problems

Farmers Exchange Bank, Louisville Alabama was founded i 1958.  The company is on the problem bank list.  The Texas ratio is 128%.  This is the worst bank in the state.

This is the CEO, CFO and COO, You can’t trust Dr. Robert Bennett but you trust these savvy bankers

Assets are $196MM and equity is $11MM.

The problem loan portfolio is $18MM.

This bank is bankrupt.

How about closing this place down.

Dr. Robert Bennett is the President, his grandfather started the bank.

It looks like the good Dr. wiped out the family business.

Is this your bank?

It looks like the Farmers aren’t exchanging the money they got back to the bank.

United Fidelity Bank Evansville Indiana

July 23, 2011

You better trust in god if you have money in this disaster

Bellyup Bank

United Fidelity Bank, Evansville Indiana was founded n 1931.  The company is on the problem bank list.  The Texas ratio 68%.

Assets are $202MM with equity of $17MM.

The problem loan portfolio is $17MM.

Do you think this place is insolvent?

I think it’s time to close this place down.

The bank survived the great depression but can’t survive this management team.

Syringa Bank Boise Idaho

July 22, 2011

 

Might as well make Wavey the CEO, he can’t be any worse than Scott Gibson, that guy is a disaster

 

Syringa Bank, Boise Idaho was founded in 1997.  The company is on the problem list.  The Texas ratio is 92%.  The stock is delisted.

Assets are $223MM and equity is $13MM.

The problem loan portfolio is admirable.  The have $13MM in problem loans.

I guess that means the equity position is seriously compromised.

Why isn’t this place put out of it’s misery.

Not only does this bank make tons of bad loans, they lose a lot of money.

Net income was ($1.8MM) in FY10 and ($26MM) in FY09.  They lost another $536k in Q1 2011.

Get this, they lost another $2.8MM in Q2, they wiped out 25% of the equity in 3 months.  They equity position is down to $10.6MM.

Scott Gibson is the CEO.

Scott was able to wipe out the stockholders, rack up a boat load of bad loans and run this place into the ground, all at the same time.

Is this your bank”

This place could use a syringe, to take it out of it’s misery

MidSouth Bank Murfreesboro Tennessee

July 22, 2011

 

This disaster is on the problem bank list

Take your money out of this place ASAP

MidSouth Bank, Mufreesboro Tennessee was founded in 2004.  Great timing.  The company is on the problem bank list.

Assets are $231MM with equity of $24MM.

The problem loan portfolio is $13MM.

That could put a serious dent on the equity position.

This place is run by Lee Moss and Dallas Caudelle. These two ran this place into the ground in record time.

Is this your bank?

MidSouth?  This place has gone completely south, like Dallas.

Securant Bank & Trust Milwaukee Wisconsin

July 22, 2011


This place survived the Great Depression will it  survive David Davis?

It is looking insolvent

Securant Bank & ,Milwaukee Wisconsin was founded in 1919.  The company is on the problem bank list.  The Texas ratio is 62%.

Assets are $259MM with equity of $19MM.

The problem loan portfolio is $28MM.

This place is looking insolvent.

I am thinking ,this bank should be liquidated.

David Davis is the CEO.

This bank survived the great depression, can it survive David Davis?

First South Bank Spartanburg South Carolina

July 22, 2011

Barry Slider got this place on the problem bank list for hazadous commercal real estate lending

This disaster has $78MM in problem loans with $14MM in equity

Barry wiped out 86% of the remaining equity in Q3 2011

First South Bank Spartanburg South Carolina was founded in 1996.  It is on the the problem bank list for hazardous commercial real estate lending.  Maybe that is why the Texas ratio is 254%.  The stock is delisted.

Assets are $451MM and equity is $14MM.

The problem loan portfolio is $78MM.

Why isn’t this place closed down? It is clearly bankrupt.

They lost $7MM in Q2 2011.

This disaster lost another $11MM in Q3 2011

Barry Slider wiped out another 86% of the equity in the third quarter

There is $80MM in bad loans with $14MM in equity

This place is bankrupt

Take a look at the website, check out all the land they have for sale.

Who in their right mine finances vacant land?

Barry Slider is the CEO, apparently he does.  Although, he doesn’t seem to be very good at it.

Barry Slider has done an admirable job at wiping out the stock holders and running this place into the ground.

Why are they paying this guy?

Is this your bank? Bank with Barry.

First American State Bank Greenwood Village Colorado

July 22, 2011

 

Here is Jay Davidson, he is a proud member of the problem bank list, he is the CEO of one of the worst banks in Colorado

This clown bankrupted his own company, why is he smiling

Do you have money in the bankrupt disaster?

 

First American State Bank, Greenwood Village Colorado was founded in 1995.  The company is on the problem bank list.  Maybe because the Texas ratio is 85%, making it one of the worst banks in Colorado.

Assets are $214MM, with equity of $16MM.

The problem loan portfolio is $18MM.

It looks like this place is bankrupt.

When are they going to close this zombie down.

Jay Davidson is the CEO and founder.

He is the founder?

Why did he bankrupt his own bank?

They might want to change the name.

Is this your bank?

Take your money out of this disaster.

These clowns state that they have have more loan loss reserves than any time i their history?

You jokers have $3MM in loan loss reserves and $18MM in bad loans, what the hell does that mean?

Jay Davidson bankrupted this place in record time

Bank of Alameda Alameda California

July 22, 2011

 

Don’t worry these guys are keeping an eye on your money

 

Bank of Alameda, Alameda California was founded in 1999.  The company is on the problem bank list.

Assets are $253MM with equity of $27MM.

The problem loan portfolio is $12MM.

This could be a problem, having almost half of your equity exposed to your problem loans, is not good.

It will interesting to see if this place can survive.

The First National Bank of Eagle River Eagle River Wisconsin

July 22, 2011

 

Not sure why they are not closed, they are bankrupt

 

The First National Bank of Eagle River, Eagle River Wisconsin was founded in 1921.  The company is on the problem bank list.

Assets are $146MM and equity is $13MM.

The problem loan portfolio is $12MM.

That is not a great scenario, when the problem loans are equal to your equity.

Tom Ellis is the CEO.  It is looking like he’s got some problems.

This place could soon be getting washed down the eagle river.

Do you have money in this bankrupt bank?

Westside Bank University Place Washiington

July 21, 2011

How does $39MM in bad loans sound

Westside Bank, University Place Washington was founded in 1995.  This is the worst bank in Washington.  They are on the problem bank list.  The Texas ratio is 241%.

There are $141MM in assets and the remaining equity is $10MM.

The problem loan portfolio is admirable.  They have $39MM in problem loans.

This place is looking bankrupt, why are they still open?

Donald Dalton is the CEO, this guy has some problems.  Then again, he may have created these problems.

They should probably change the name to Wayside Bank.

Diamond Bank Schaumburg Illinois

July 21, 2011

Don’t panic, there is nothing wrong with a little hazardous commercial real estate lending

By the time those  clowns at FDIC figure it out, then it is the time to panic

Diamond Bank, Schaumburg Illinois is on the problem bank list, for hazardous commercial real estate lending.  The Texas ratio is 55%.

Assets are $254MM with equity of $20MM.

There are $15MM in problem loans.

This bank has a serious problem.

Net income was ($7.5MM) in FY10, they lost another $1.5MM in Q1 2011.

They are not going to earn their way out of this mess.

Do you have money here.

This place is definitely not a diamond.

MinnWest Bank Tracy Minnesota

July 21, 2011

They should hire this guy as the CEO, he is good with kids

MinnWest Bank, Tracy Minnesota was founded in 1941.  The company is on the problem bank list.  The Texas ratio is 81%.

Assets are $520MM and equity is $48MM.

The problem loan portfolio is $27MM.

The problem loans could put a serious strain on the equity position.

It will be interesting to see if they survive.

Bank of Fairfield Fairfied Washington

July 21, 2011

 

Might as well have bart run this disaster

 

Bank of Fairfield, Fairfield Washington was founded in 1908.  The company is on the problem bank.

Assets are $123MM and equity is $12MM.

The problem loan portfolio is $5.4MM.

This could be a put a significant dent in the equity base.

San Antonio National Bank San Antonio Texas

July 21, 2011

This sums up this bank

 

San Antonio National Bank, San Antonio Texas was founded in 1923.  The company is on the problem bank list.

Assets are $233MM with $27MM in equity.

The problem loan portfolio is $9MM.

That is probably not a great scenario.

It will be interesting to see if the CEO Guy Bodine, can pull the bank through this mess.

Though, I am thinking  that this guy is screwed.

First National Bank of the South Alma Georgia

July 21, 2011

This cat got them on the problem bank list

Check out all the junk real estate they are trying to sell, this place is SCREWED

Do you have money in this bankrupt entity?

Wonder why this guy is losing his hair?  He is sitting on $17,000,000 in junk loans

When the first thing you see on the site is the real estate for sale! They are f$$ked 

First National Bank of the South, Alma Georgia was founded in 1950.  The company is on the problem bank list.

Assets are $328MM with $35MM in equity.

The problem loan portfolio is $24MM.

This is not a great situation, the $24MM in bad loans, could easily eradicate a lot of the equity base.

Jack Johnson, the CEO, did a great job racking up bad real estate loans.

Take a look at the website, they have some fine properties for sale.

Jack has a knack for making bad loans.

How about changing the name to the First National Bank of the problem loan.

Santa Clara Valley Bank Santa Paula California

July 21, 2011

It didn’t take Michael Hause long to wipe this place out

Michael, reckless commercial real estate lending!

Maybe that is why you are the problem bank list

 

Santa Clara Valley Bank, Santa Paula California was founded in 1999.  The company is on the problem bank list for reckless commercial real estate lending.

Assets are $132MM and equity is $13MM.

The problem loan portfolio is $8MM.

Having $8MM in bad loans with only $13MM in equity is not a favorable situation.

I guess why they are on the problem bank list.

It looks like Michael Hause the CEO, is good at racking up bad commercial real estate loans.

Michael Hause just resigned, he should be in incarcerated.

Fidelity Bank of Florida Merritt Island Florida

July 21, 2011

Fidelity Bank of Florida, Merritt Island Florida was founded in 1997.  The company is on the problem bank list.  Does this place have problems.  The Texas ratio is 164%.

Assets are $375MM with equity of $14MM.

Get a load of the problem loan portfolio, it is incredible.  They have $79MM in problem loans.

Hold on, they have $79MM in problem loans with only $14MM in equity?

This thing is bankrupt.

This place need to be closed down.

Where the regulators? Even those clowns can see this thing is insolvent.

Not only is this place good at making bad loans, they are great at losing money.

Net income was ($3MM) in FY10 ($7MM) in FY09 and ($8MM) in FY08.  They lost another ($1MM) in Q1 2011.

Hold on, they lost another $1.9MM in Q2.

For some reason, they won’t tell you who the CEO is on the website.

If I wiped out 200% of the equity in 3 years, I would be in hiding also.

The only thing the website has is all the vacant land they have for sale, not a good sign.

Do you keep money in this bankrupt place?

Fidelity is one thing this place is not.

Border State Bank Greenbush Minnesota

July 21, 2011

 

 

 

Border State Bank Greenbush Minnesota was founded in 1935.  The company is on the problem bank list.  The Texas ratio is 65%.

Assets are $355MM with equity of $28MM.

The problem loan portfolio is $29MM.

This is not a good situation.

They are looking insolvent.

Check out the website, actually don’t bother it is useless.

Do you have money in this place? You better run for the border.

This place Borders on bankruptcy.

Metropolitan Bank New York New York

July 21, 2011

It didn’t take Mark Defazio long to bankrupt this place

They are on the problem bank list for weakness in capital and credit quality, not to mention excessive executive compensation

Check out their new product line Cash Zone, is this place a bank or a loan shark

Would you trust this guy with your money?

He has 3 chins, all bought and paid for with your money

Metropolitan Bank, New York New York was founded in 1999.  The company is on the problem bank list.  They were cited for weaknesses in capital, liquidity and credit quality.  They were also cited for having excessive executive compensation, imagine that.  The Texas ratio is 24%.

Assets are $588MM with equity of $71MM.

The problem loan portfolio is $34MM.

The problem loans could wipe out a significant portion of the asset base.

This place has problems.

Mark Defazio is the CEO, he has done an admirable job of racking up a ton of bad loans.

Not only is he making bad loans, he is taking excessive pay for it!

First Federal Bank Tuscaloosa Alabama

July 21, 2011

Do you have money in this disaster?

 

 

First Federal Bank Tuscaloosa Alabama was founded in 1950.  The company is on the problem bank list.  The Texas ratio is 49%.

Assets are $174MM with equity of $13MM.

The problem loan portfolio is $7MM.

This doesn’t bode well for the equity base.

This place has problems.

Take a look at the website it is a joke.

Westbound Bank Katy Texas

July 21, 2011

Westbound Bank, Katy Texas was founded in 2007. Wow, that was a savvy time to start a bank.  They are on the problem bank list. That didn’t take long. The Texas ratio is 64%.

Assets are $152MM and equity is $19MM.

The problem bank portfolio is $16MM.

Wow, this team wiped out the investors capital in record time.

They lost a $1.1MM in Q2 2011.  This place is slowly fading away.

The bank lost another $1MM in Q3 2011.

Robert Kramer is the CEO, he bankrupted this place fast.

Though this guy destroyed the shareholders equity and bankrupted the company however, I give him credit.  He published the consent order from the regulators on the website under the Presidents message.  That has got to be a first.

This place has $152MM in assets, one branch, a ton of bad loans and 20 workers, not a cost effective business model.

Their motto is “a new direction in banking”.  Bankrupting a bank in 3 years, is not a new direction, it’s happening  all over the country.

Is this your bank?

Westbound? How about Bankruptcy bound.

Farmers Bank Victor Montana Bankrupt

July 21, 2011

They might as well hire this guy as the CEO

This  place survived the Great Depression but it won’t survive Kay Clevidence

Charlie will get the regulators off you back

Farmers Bank Victor Montana was founded in 1907.  The company is on the problem bank list.  The Texas ratio is 45%.

Assets are $307MM and equity is $29MM.

The problem loan portfolio is $18MM.

This could erode a large portion on he equity base.

Kay Clevidence is the CEO.

It will be interested to see if this place survives.

First National Bank of Winnesboro Winnesboro Texas

July 21, 2011

This looks like Jan MIllers bankrupt bank

First National Bank of Winnesboro, Winnesboro Texas was founded in 1893.  The company is on the problem bank list, for negligent commercial real estate lending.  The Texas ratio is 56%.

Assets are $143MM and equity is $21MM.

The problem loan portfolio is $18MM.

Ouch, it is looking like this place is in trouble.

Jan Miller is the CEO.

Can Jan Miller take down a 116 year old bank?

New Millenium Bank New Brunswick New Jersey

July 20, 2011

This our credit commitee

Wonder why the Texas ratio is 125%?

Do you have money in this bankrupt disaster?

You better kick it down with the crystals

New Millenium Bank, New Brunswick New Jersey was founded in 1999.  The company is on the problem bank list.  The Texas ratio is 125%, making it the worst bank in the state.  The stock is delisted.

Assets are $221MM and equity is $13MM.

The problem loan portfolio is $24MM.

With $24MM bad loans and $13MM in equity, this place is bankrupt.

This mess should be closed down.

James Ateih is the CEO, he was able to wipe out 67% of the equity, in only 3 years.

Not only is he good at making bad loans, he is great a losing money.

The last annual report on the website is from FY08, that’s probably when the devastation began.

Their motto is ” a new age in banking services”.  Is wiping out a company in a decade a new age experience?

They were giving out loans using crystals, instead of financial statements.

Who was the Chief Credit Officer Shirley MacLaine?

Do you have your money in this new age disaster?

Millenium, these clowns are lucky they survived a decade.

SouthBank Huntsville Huntsville Alabama

July 20, 2011

 

SouthBank, Huntsville Alabama was founded in 1990.  The company is on the problem bank list.  The Texas ratio is 48%.

Assets are $255MM  and equity is $21MM.

The problem loan portfolio is $11MM.

This place is under stress.

Check out the website, don’t bother, the thing is a joke, it has zero information.

Bank of Atlanta Atlanta Georgia

July 20, 2011

 

Bank of Atlanta, Atlanta Georgia was founded in 1996.  The company is on the problem bank list.

Assets of $198MM and equity of $20MM.

The problem loan portfolio is $15MM.

This place is in rough shape.

Do you think it will survive?

First Community Bank Glascow Montana

July 20, 2011

How about this management team!

Have the goddesses run the place

First Community Bank, Glasgow Montana was founded in 1891.  They are on the problem bank list.

Assets are $216MM and equity of $19MM.

The problem loan portfolio is $13MM.

They won’t tell you who the CEO is.

I’ll tell you one thing, this bank survived the Great Depression, but it might not survive the current management team.

Pacific National Bank Miami Florida

July 20, 2011

This place could be  zombie!

Pacific National Bank Miami Florida was founded in 1985.  The company is on the problem bank list.

Assets are $348MM with equity of $42MM.

The problem loan portfolio is $15MM.

That is not bad for Florida.

I am still trying to figure out why a bank in Florida is called Pacific National Bank.

First State Bank Mesquite Texas

July 20, 2011

Take a look at the new site

capital2risk.com

This is Todd Price President

Todd ran this place into the ground

Todd is sitting on $22,000,000 in bad loans, with only $24,000,000 in equity

Todd runs one of the worst banks in Texas, Todd is wiping out a 50 year old bank

This sums up this disaster

First State Bank, Mesquite Texas was founded in 1962.  The company is on the problem bank list.  The Texas ratio is 75%.

Assets are $200MM with equity of $20MM.

The problem loan portfolio is $32MM.

Things aren’t looking good when you have more problem loans than equity.

Will this place survive?

City National Bank Newark New Jersey

July 20, 2011

Stick a fork in this pig

City National Bank Newark New Jersey was placed on the problem bank.  The Texas ratio is 119%.

Assets are $399M and equity is $30MM.

The problem loan portfolio is $77MM.

This place has a serious problems. They are looking pretty insolvent.

Take a look at the website, they haven’t posted their annual report since 2008.  That’s right, that is when the place started blowing up.

This place makes the streets of Newark look safe.

They lost another $2.2MM in Q2 2011

Plaza Bank Norridge Illinois

July 20, 2011

 


This could be John Hunt doing a little hazardous commercial lending

This place is bankrupt

 

Plaza Bank, Norridge Illinois was founded in 1954.  The company is on the problem bank list, for hazardous commercial real estate lending.  The Texas ratio is 75%, not good.

Assets are $383MM with equity of $34MM.

The problem loan portfolio is $31MM.

Having $34MM in equity and $31MM in problem loans, this place is looking insolvent.

John Hunt is CEO, he has down a good job of racking up tons of problem loans and running a 50 year old bank into the ground.

Park Federal Savings Bank Chicago Illinois

July 20, 2011

Park Federal Savings Bank, Chicago Illinois is on the problem bank list for hazardous commercial real estate lending.  The Texas ratio is 66%.  The stock is delisted.

Assets are $207MM, with equity of $16MM.

The problem loan portfolio is $12MM.

This bank is technically insolvent.

Net income was ($5MM) in FY10, ($4MM) in FY09 and ($2MM) in FY08

Take a look at the website under the news section, there hasn’t been any news posted since FY09.  The last posted news was that the stock was delisted, always a good sign.

Here is some news, you are insolvent.

The executives may have bankrupted this place, but at least they paid themselves well to do it.

David Remijas       made  $246k

Richard Remijas   made $227k

Victor Caputo        made $138k

Paul Lopez               made $118k

That is good pay for wiping out the shareholders.

The Remijas family, also wiped out 54% of the equity in only 3 years.

Do you have your money have your money parked in this disaster?

Liberty Bank Twinsburg Ohio

July 20, 2011

Here is the new web site

capital2risk.com

This is William Valarian CEO

William is on the problem bank list

William is sitting on $13,000,000 in junk loans and only $22,000,000 in equity

Do you have William watching your money, that is scary, this clown is screwed

How is the capital raising going?

Who in their right mind would invest in this abortion?

Then again, who would keep their money in the disaster!

Liberty Bank, Twinsburg Ohio was founded in 1990.  The company is on the problem bank list.  The Texas ratio is 32%.

Here us the rest of the team, that is wiping this place out

Assets are $227MM with equity of $20MM.

The problem loan portfolio is $10MM.

The problem loans could wipe out  a good part of the remaining equity.

William Valerian is the CEO.

Take a look at his letter to the shareholders.  It is comical.  They were supposed to raise capital by 6/30.  They claim to have a letter of intent for $10MM from an in investor, but no details are provided. It is pretty obvious, they don’t have a deal.

William Valerain wiped out the existing shareholders, if he had a deal he would have put it on the table.

For some reason , they won’t put the financial statements on the website.  I guess they are not at liberty to tell.

Do you have money in this bankrupt entity?

First National Bank of Crestview Crestview Florida

July 20, 2011

Check out the CEO

First National Bank of Crestview, Crestview Florida was founded in 1956.  The company is on the problem bank list. I guess a Texas ratio of 247% will get you on the list.

Assets are $124MM with equity of $6MM.

Take a look at the problem loan portfolio.  There are $33MM in problem loans.

Wow, having $33MM in bad loans with $6MM in equity,  that could be a problem.

This place is bankrupt.

Why isn’t this dissolute thing closed?

Dale Rice is the CEO.

He wiped out 183% of the capital in only 3 years, this guy is good.  Not to mention racking up $33MM in bad loans and bankrupting the company.

Dale + bad loans are like white on rice.

Do you have money in this debacle?

Signature Bank Bad Axe Michigan

July 20, 2011

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?

Premier Community Bank of the Emerald Coast Crestview Florida

July 20, 2011

Premier Community Bank of the Emerald Coast, Crestiew Florida was founded in 2006. That was great timing. They are on the problem bank list for hazardous commercial real estate lending.  The Texas ratio is 145%.

This is probably the worst bank in the country,based on capitalization.

These clowns lost $4MM in Q3 2011 wiping out all the equity.

Assets are $152MM, with equity of ($1MM).

This place is bankrupt.

The problem loan portfolio is impressive.  They have $23MM in bad loans, now that is a premium portfolio!

This place is beyond bankrupt.

Do you think may this disaster should be shut down?

J. Michael Woody is the Chairman

James M “Johnny” Johnson Vice Chairman, can’t make this up.

These are 2 savvy bankers, they ran this place into the ground in record time.

They wiped out 100% of the equity in 3 years, that is impressive.

They picked a great name for this bankrupted entity.

Woody is an expert at racking up a ton of junk loans.

I am sure “Johnny” Johnson was not far behind.

This place is phallic.

The one thing that is premier is the problem loan portfolio.

Is this your bank?

I guess you don’t put a premium on your money

Premium Bank Dubuque Iowa

July 19, 2011

John Mozena took $6MM of you tax payer money, which he won’t pay back

Wow, he was also able to get this place on the problem bank list, maybe the $23MM in problem loans had something to do with this

This guy is not going hungry, looks like he eats premium food

Is this guy corn fed or A$$ fed, looks gay to me

 

Premium Bank, Dubuque  Iowa was founded in 1999. They took $6MM in tax payer funded bailout funds, which they won’t pay back.  They are also on the problem bank list.

Assets are $279MM with supposed equity of $23MM.

The actual equity position is $17MM, as the $6.3MM is debt owed to the tax payer, not so called preferred stock.

The problem loan portfolio is $23MM.

They have $23MM in problem loans and $17MM in equity.

This place is looking bankrupt.

John Mozena is the CEO.

John, the tax payer wants their $6.3MM back.

John, the company made $609MM in Q1, why isn’t this money going to the tax payer?

Do you have money in this bank?

This place is not exactly premium.

First Intercontinental Bank Doraville Georgia

July 19, 2011

Who is the CEO, he is anonymous after taking $6.3MM of your money

This place is intercontinental.

First Intercontinental Bank, Doraville Georgia was founded in 2000.  The company took $6.3MM in tax payer funded bailout money, which it won’t pay back.  For some reason they are not on the problem bank list, despite having a Texas ratio of 64%.

Assets are $269MM, with equity of $30MM.

The problem loan portfolio is $36MM.

Having $36MM in problem loans and $30MM in equity is not a good scenario.

They are probably insolvent.

Why aren’t they on the problem bank list?

Net income was $130k in FY10 and $36k in FY09.

At this rate, how long will it take them to pay back $6.3MM to the tax payer. Eternity.

What kind of a name is First Intercontinental?  They have 5 branches in Georgia, not exactly intercontinental.

First National Bank of Wyoming Wyoming Pennsylvania

July 19, 2011

A capital base envied by all?

“Strength and stability” doesn’t get you on the problem bank list

 

First National Bank of Wyoming, Wyoming Pennsylvania was founded in 1909.  The company is on the problem bank list.

They were designated by the regulators as being in “troubled condition”.   That doesn’t sound good.

Take a look at the website, there motto is “strength and stability” with a “capital base envied by all”?.

So they are in troubled condition, but their capital base is envied by all!

The Texas ratio is 66%, making it the worst bank in the state.

Assets are $285MM with equity of $43MM.

The problem loan portfolio is $53MM.

So, they have $53MM in problem loans with $43MM in equity, do you still envy their capital base.

This place is bankrupt, why aren’t they shut down.

Joseph Chippe is the CEO.

This bank survived the Great Depression but it won’t survive Joseph Chippee.

Heartland Bank Sebring Florida

July 19, 2011

I don’t want to talk about my mistress

Want to buy some vacant swamp land?

Heartland Bank Sebring Florida was founded in 1999.  The company is on the problem bank list.  The Texas ratio is 49%, which isn’t bad for Florida.

Assets are $288MM and equity is $24MM.

The problem loan portfolio is $19MM.

Wow, $19MM in problem loans and only $24MM in equity, that is one troubling situation.

This bank looks bankrupt.

Take a look at how much vacant land they have for sale.

Who in their right mind finances vacant land?

Apparently, James Clinard the CEO does.

They also have an attractive array of vacant houses for sale.

Is this a real estate company or a bank?

Atlantic Bank Brunswick Georgia

July 19, 2011

Street fight Wall Street versus Main Street

This place is bankrupt

Atlantic Bank Brunswick Georgia, was founded in 1998.  They are on the problem bank list for hazardous commercial real estate lending.  The Texas ratio is 54%.

Assets are $180MM with equity of $12MM.

The problem loan portfolio is $14MM.

With $14MM in problem loans and $12MM in equity, this place looks bankrupt.

Why is bank still open?

John Rogers the CEO, did a fine job of racking up bad loans for this place.

Frontier State Bank Oklahoma City Oklahoma

July 19, 2011

The problem bank  list?

 

 

Frontier Bank Oklahoma City Oklahoma was founded in 1975.  The company is on the problem bank list for unsafe and unsound lending practices.

Assets are $517MM and equity is $53MM.

The problem loan portfolio is $30MM.

The $30MM in problem assets could put a serious dent on the equity position.

This place is not in great shape.

The bank is on the frontier of self destruction

Ocean Bank Miami Florida

July 19, 2011

Take a look at the new site

capital2risk.com

Would you trust this person?

This is Alfonso, 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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Personal Banking Commercial Banking About Ocean Bank Contact Ocean Bank
     Thursday, February 09, 2012
Vacant and Partially Improved Land for saleOffers are welcome. All properties are sold in “as-is” condition.
This offering is subject to errors, omissions and changes without notice.Updated 2.4.12
Printable PDF >
This is a table that lists Vacant and Partially Improved Land for sale. County Location Size / Type Zoning & Remarks Price Contact
BrowardView More
Info/Photos
Contract PendingNW corner of W. Pembroke Rd. and S. Hiatus Rd., Pembroke Pines, FLLocated within Village of Mayfair development

Folio #:
Parcel 1:
5140-24-02-0063
Parcel 2:
5140-24-02-0062

4.8 acresParcel 1:
155,879 sq. ft.
– frontage on Pembroke Rd.Parcel 2:
53,318 sq. ft.
– frontage on
Hiatus Rd.

Improved
Land with entitlements for 75,050 sq. ft.
Mixed-Use project

B-2 Community Business DistrictLocated on a high traffic corner amongst several apartment housing developmentsThe planned lakefront professional
and medical office center includes
5 detached, 2-story buildings,
15,000
sq. ft. each

The opportunity is located within the Village of Mayfair development,
a 10 acre area planned for a total
of 105,620 sq. ft. of retail and
office space

Highest and Best Offer Clinton Casey
Colliers International
954-233-6075
clinton.casey@colliers.comDavid Metalonis
Colliers International
305-447-7866
david.metalonis@colliers.com
BrowardView More
Info/Photos
Sold2101 NE 36th St.
Lighthouse Point, FL 33064
1 acreFormer gas station plus land Built in 1970B-2A Special Business DistrictGreat office site or retail site $840,000 Mark Meyer
954-712-9365 markmeyer@keyes.comMichael Gagne
954-712-9377
michael@mgagne.com
Broward
View More
Info/Photos
Contract PendingNE corner of S. 22nd Ave. and Van Buren St.
Hollywood, FL 33020
1.68 acresVacant The property is the undeveloped Phase III of a planned development with 602 residential units consisting of townhomes, lofts and condominiumsZoned PD (Planned Development District) for 252 Residential Units
in 14 stories. Also allows for all residential uses, office and
resort usesAbove street grade

Located in the heart of
Hollywood, Florida

Within walking distance to shops, restaurants and the Arts Park on
Young Circle, the site offers an
investor the opportunity to capture
a well located parcel of land in and
urban infill location

175 frontage feet along Van Buren St. and 296 feet along 22nd Ave.

Direct access from Hollywood Blvd.; 1/2 Block from S. Dixie Hwy.; 1 mile from I-95; 2.21 miles to A1A; 3.73 miles from Florida Turnpike

$2.5
million
Elizabeth McHugh
Ocean Bank
305-569-5146
emchugh@oceanbank.com
CharlotteView More
Info/Photos
Aqui Esta Dr.
Punta Gorda, FL 33950
105.73 acresVacant Waterfront acres (64 developable), within a mile of frontage on canals, offering unobstructed access to Charlotte Harbour and the Gulf
of MexicoSingle family (5 to the acre)
$4.6
million
Elizabeth McHugh
Ocean Bank
305-569-5146
emchugh@oceanbank.com
CollierView More
Info/Photos
A) 946 Henderson
Creek Dr.
Naples, FL 34114B) 952 Henderson
Creek Dr.
Naples, FL 34114
A) 3.23 acresB) 3.06 acresVacant A) & B) Zones MH – mobile home development site $451,000 Elizabeth McHugh
Ocean Bank
305-569-5146
emchugh@oceanbank.com
Indian RiverView More
Info/Photos
900 Louisiana Ave.
Sebastian City, FL 32958
8.01 acresVacant Undeveloped land zoned for
multi-family developmentSebastian Landing, under the jurisdiction of Sebastian, FL
$300,000 Linda Schlitt-Gonzalez
Coldwell Banker,
Ed Schlitt Realtors
772-559-7367
Linda.Gonzalez@
Coldwellbanker.com
Indian RiverView More
Info/Photos
NW quadrant of State Road 60 and 90th Ave.
Vero Beach, FL 32966
60.44 acresVacant Partially zoned commercial along SR 60, with multi-family in the northern portion of siteLocated at key interchange of I-95 with great access and visibilityNear major outlet shopping mall and commercial areas in Vero Beach, FL $2.5
million
George Gonzalez
Ocean Bank
305-569-8036
gegonzalez@oceanbank.com
LeeView More
Info/Photos
OHC Magnolia
3811 Schoolhouse Rd. East Fort Myers, FL 33916
16.4 +/- acresVacant C-1 (Commercial Intensive)Permitted uses under zoning class are multi-family, residential of 25 or less units per acre, professional office, hotels, motels, retail stores, shops and service stations $2.1
million
Elizabeth McHugh
Ocean Bank
305-569-5146
emchugh@oceanbank.com
Miami-DadeView More
Info/Photos
Located between SW 192nd Ave. and SW 197th Ave. AND SW 338th St. and SW 344th St. in Unincorporated Miami-Dade County, FL 33034 83.83 acresVacantUnimproved Short term agricultural leases
in placeApproximately 50.1 acres zoned
EU-M (Estate Modified District)Approximately 33.82 acres zoned AU (Agricultural District)

According to the Miami-Dade County Future Land Use Map, the allowable development density may be up to 407 residential units on the property

$4.65 million Joseph Moussa
Ocean Bank
305 569-8073
jmoussa@oceanbank.com
Miami-DadeView More
Info/Photos
SoldBanyan Corporate Center at the Pan American Business ParkNW 109th Ct. &
NW 123rd St.
Medley, FL 33178

Folio #:
22-2030-016-0050

8.8 acresIndustrial Land Zoned: M-1 Light IndustrialMax Bldg. Height: 16 feet; Max Lot Coverage: 60% or 229,997 sq. ft.Located in the a prime industrial zone, the Banyan Corporate Center is well situated to provide buyers and tenants access to all of South Florida’s roadways, railways and ports of call

Direct access to Okeechobee Rd.

Direct rail access along the North boundary line

1.2 Miles to Florida 821 Toll Rd.; 2.8 Miles to I-75; 6 Miles to Opa Locka Airport; 9 Miles to Miami International Airport; 12 Miles to I-95 and Florida Turnpike; 16 Miles to Port of Miami

Highest and Best Offer Scott Sime
Sime Realty Corporation
786-344-2603
sime@sime2.com
Miami-DadeView More
Info/Photos
11825 SW 216 St.
Miami, FL 33177
2.5 acres
(108,900 sq. ft.)Rectangular Shape (+/-182 by +/-596)Vacant (Leveled to grade)
Zoned GCUC
(Goulds Community
Urban Center District)Located in both MM (Mixed Use Main Street) and MO (Mixed Use optional) of the land use plan
$349,000 Jorge A. Ramirez
Coldwell Banker
Commercial NRT
786-337-3666 cell
305-667-5531 fax
jorge.ramirez@
cbcworldwide.com
Miami-DadeView More
Info/Photos
2215 NW 14th St.
Miami, FL 33125Folio #:
01-3134-000-0160
4.4 acresIndustrial
Marina Site
Zoning: City of Miami SD-4, Marine Industrial, Miami 21 Transect Zone
T6-8 Open1.23 acres submerged; 3.17 acres upland; 325 frontage feet on the
Miami RiverProperty configuration is ideal for
mega yacht marina or ship yard

Former shipping terminal

Improvements: Three story office building and a one story warehouse located on the rear of the property close to the river

Located on the Miami River, directly to the west of the NW 22nd Avenue bridge; easy access to the property situated on the NW corner of NW 14th St. and NW 22nd Ave.; .52 miles from Dolphin Expressway (836); 3.6 miles from I-95

$4.9
million
Elizabeth McHugh
Ocean Bank
305-569-5146
emchugh@oceanbank.com
Miami-DadeView More
Info/Photos
821 SW 67th Ave.
Miami, FL 33134
0.48 acresVacant Across from major grocery centerHigh traffic corridor near 8th Street intersectionZoned for Commercial use $799,000 David Metalonis
Colliers International
305-447-7866
david.metalonis@colliers.com
Miami-DadeView More
Info/Photos
Contract PendingLa Veradita
216 SW 12th Ave.
Miami, FL 33135
0.48 acresVacant SD-14 overlay – Latin Quarter – Commercial / Residential District
by the City of MiamiZoned for single family, two story family, multi-family, hotels, motels, office, retail, medical or dental office, financial institution and educational facilities
$699,900 Mario Fernandez
National Properties Realty
305-444-1144 Nationalpropertiesrealty
@yahoo.com
Miami-DadeView More
Info/Photos
SE Corner of SW 197 Ave. and SW 296 St.
Miami, FL 33030
18.44 acresVacant EU-1 ‘Single FamilyOne-Acre Estates’ $1
million
Joseph Moussa
Ocean Bank
305 569-8073
jmoussa@oceanbank.com
Miami-DadeView More
Info/Photos
SE Corner of SW 197 Ave. and SW 312 St.
Miami, FL 33030
19.47 acresVacant EU-1 ‘Single FamilyOne-Acre Estates’ $1.05
million
Joseph Moussa
Ocean Bank
305 569-8073
jmoussa@oceanbank.com
Miami-DadeView More
Info/Photos
West of SW 187th Ave.
and SW 338 St.
Florida City, FL 33034
10 acresVacant Zoning 9000 Agricultural $2.2
million
Joseph Moussa
Ocean Bank
305 569-8073
jmoussa@oceanbank.com
Miami-DadeView More
Info/Photos
1550 NW 79 St.
Miami, FL 33147
14,700 sq. ft.Partially Improved BU-2 Special BusinessTwo bay automobile service garage
with approximately 1,592 sq. ft. of
gross building area
$199,000 David Metalonis
Colliers International
305-447-7866
david.metalonis@colliers.com
MonroeView More
Info/Photos
320 Windley Rd.
Key Largo, FL
6,000 sq. ft.
Vacant
Dock TBD Robin Mitchell
Compass Realty
305-797-9099
robinmitchellkw@comcast.net
OsceolaView More
Info/Photos
7414 Excitement Dr.
Reunion, FL 34747
4.07 acresVacant 8 building pads approved for 74 condominium/residential unitsPart of the luxury Reunion resort developmentWithin a 199-unit condominium site $890,000 Elizabeth McHugh
Ocean Bank
305-569-5146
emchugh@oceanbank.com
Palm BeachView More
Info/Photos
SoldPalm Beach County
Waterfront Site
106 & 122 North Lake Dr. Lantana, FL 33462
1.02 acresVacant R15 – Residential
– Up to 15 units per acreDirectly on the water,
development site
$1.35
million
David Metalonis
Colliers International
305-447-7866
david.metalonis@colliers.comMichael Fay
Colliers International
305-446-0011
michael.fay@colliers.com
Palm BeachView More
Info/Photos
300 Palm Beach
Lakes Blvd.
West Palm Beach, FL 33410
1.52 acresVacant Partially developed multi-family
mid-rise buildingVacant shell near the waterfront
$1.8
million
Elizabeth McHugh
Ocean Bank
305-569-5146
emchugh@oceanbank.com
St. LucieView More
Info/Photos
Sold6200 Johnston Road
Unincorporated
St. Lucie County, FL
5.88 Acres of
Vacant Land with a 1,836 sq. ft. Single Family Home
Zoned Ag-1, AgriculturalResidential density of one residential unit per acre $80,000 George Gonzalez
Ocean Bank
305-569-8036
gegonzalez@oceanbank.com
St. Lucie
View More
Info/Photos
Northwest side of Glades Cutoff Rd. and East of Carlton Rd. in Unincorporated
St. Lucie County, FL
299.87 AcresVacant Zoned Ag-5, AgriculturalResidential density of one unit
per 5 acres
$1.05 million George Gonzalez
Ocean Bank
305-569-8036
gegonzalez@oceanbank.com
St. Lucie East Side of Carlton Rd. and North of Glades Cutoff Rd. in Unincorporated
St. Lucie County, FL
79.55 AcresVacant Zoned Ag-5, AgriculturalResidential density of one unit
per 5 acres
$318,000 George Gonzalez
Ocean Bank
305-569-8036
gegonzalez@oceanbank.com
St. Lucie
View More
Info/Photos
SoldWest side of Johnston Rd. North of Indrio Rd. and South of Russos Rd.Unincorporated
St. Lucie County, FL
78 AcresVacant Zoned Ag-1, AgriculturalResidential density of one residential unit per acre $590,000 George Gonzalez
Ocean Bank
305-569-8036
gegonzalez@oceanbank.com
St. LucieView More
Info/Photos
West side of Johnston Rd. North of Russos Rd. and South of SW 25th St.Unincorporated
St. Lucie County, FL
79 AcresVacant Zoned Ag-1, AgriculturalResidential density of one residential unit per acre $590,000 George Gonzalez
Ocean Bank
305-569-8036
gegonzalez@oceanbank.com
St. LucieView More
Info/Photos
West side of
1100 Carlton Rd.
Port St. Lucie, FL 34987
84 acres of
Raw LandVacant
Former citrus grove site zoned for residential development of
1 residential unit per 5 acres
$252,000 George Gonzalez
Ocean Bank
305-569-8036
gegonzalez@oceanbank.com
St. LucieView More
Info/Photos
NW quadrant of Indrio Rd. and Johnston Rd., Port St. Lucie, FL 34951(Just east of I-95 Interchange) 597 acresVacant Large development site in
Port St. Lucie, FLFuture residential land
development site
$4.3
million
George Gonzalez
Ocean Bank
305-569-8036
gegonzalez@oceanbank.com
St. LucieView More
Info/Photos
Mayfair at Lawnwood
North side of Nebraska Avenue in Fort Pierce,
FL 34950
15.87 acresPartially Improved Brand new, vacant 10 unit,
2 story multi-family dwellingSite has approvals in place for 220 units (13.86 units per acre density)Adjacent to Lawnwood Medical Center – major hospital
$3.2
million
Elizabeth McHugh
Ocean Bank
305-569-5146
emchugh@oceanbank.com
Equal Housing Lender. Member FDIC. Privacy Statement | Disclosures   © 2012 Ocean Bank. Equal Opportunity Affirmative Action Employer.

The Washington Savings Bank Bowie Maryland

July 18, 2011

This is Phillip Bowman he ran this place into the ground

Phillip gets paid $295,000 to bankrupt this place

This place is history

The Washington Savings Bank, Bowie Maryland was founded in 1982.  The company is on  the problem bank list.  The Texas ratio is 42%.

Assets are $407MM and equity is $49MM.

The problem loan portfolio is $26MM.

The problem loans could wipe out a significant amount of the equity base.

Despite racking up a huge level of problem loans, the executives paid themselves well.

Philip Bowman   made  $295k

Kevin Hoffman   made $187k

Susan Grant         made $189k

That is pretty good pay for making all these bad loans.

The Coastal Bank Savannah Georgia

July 18, 2011

This is  J Thomas Wiley Jr., the CEO, there are two of these jokers?

J. Thomas bankrupted this disaster

J. Thomas got this place on the problem bank list

charges of unsafe or unsound banking practices or violations of law or

to weaknesses in asset quality, management, earnings, capital, liquidity

J Thomas, do you think there is a weakness in management?

This is Jim Lahaise Chief Banking Officer

Jim is sitting on $57,000,000 in bad loans

Jim got this place on the problem bank list

  Jim likes to finance vacant land


This is Adam Montgomery, Director of Marketing

Why is this clown bald he has to sell off $57,000,000 in bad loans

Thomas Wiley has $57mm in bad loans

What me worry?

The Coastal Bank, Savannah Georgia was founded in 1954.  The company is on the problem bank list.  The Texas ratio is 83%.

The Assets are $442MM with equity of $49MM.

The problem loan portfolio is immense.  They have $57MM in problem loans.

Having $57MM in problem loans and $49MM in debt, makes this place insolvent.

Take a look at the website, the first thing you see is the real estate for sale.  This bank is sitting on tons of vacant land.

Who finances vacant land.  Apparently, the CEO J. Thomas Wiley likes to.

This guy is Wiley Coyote

Is this place a bank or a real estate company?

Is this place managing your money?

FEDERAL DEPOSIT INSURANCE CORPORATION
WASHINGTON, D.C.
)
In the Matter of
)
)
THE COASTAL BANK
)
SAVANNAH, GEORGIA
)
)
(Insured State Nonmember Bank)
)
)
CONSENT ORDER
FDIC-11-055b
The Federal Deposit Insurance Corporation (“FDIC”) is the appropriate Federal banking
agency for The Coastal Bank, Savannah, Georgia, (“Bank”), under section 3(q) of the Federal
Deposit Insurance Act (“Act”), 12 U.S.C. § 1813(q).
The Bank, by and through its duly elected and acting Board of Directors (“Board”), has
executed a “STIPULATION AND CONSENT TO THE ISSUANCE OF A CONSENT ORDER” (“CONSENT AGREEMENT”), dated May 26, 2011, that is accepted by the FDIC and
the Georgia Department of Banking and Finance (“Department”). The Department may issue an
order pursuant to section 7-1-91 of the Official Code of Georgia Annotated, GA Code Ann.
Section 7-1-91 (1985). With the CONSENT AGREEMENT, the Bank has consented, without
damitting or denying any charges of unsafe or unsound banking practices or violations of law or
to weaknesses in asset quality, management, earnings, capital, liquidity, and
sensitivity to market risk, to the issuance of this Consent Order (“ORDER”) by the FDIC and the
Department.
Having determined that the requirements for issuance of an order under section 8(b) of
the Act, 12 U.S.C. § 1818(b) and section 7-1-91 of the Official Code of Georgia Annotated, GA
Code Ann. Section 7-1-91 (1985) have been satisfied, the FDIC and the Department hereby order
that:
2
BOARD OF DIRECTORS
1. (a) As of the effective date of this ORDER, the Board shall increase its participation
in the affairs of the Bank, maintaining full responsibility for the approval of sound policies and
objectives and for the supervision of all of the Bank’s activities, consistent with the role and expertise commonly expected for directors of banks of comparable size. This participation shall
include continuing to hold Board meetings to be held no less frequently than monthly at which,
at a minimum, the following areas will continue to be reviewed and approved: reports of income
and expenses; new, overdue, renewal, insider, charged off, and recovered loans; investment
activity; adoption or modification of operating policies; individual committee reports; audit
reports; internal control reviews including management’s responses; and compliance with this ORDER. Board meeting minutes shall document these reviews and approvals, including the
names of any dissenting directors.
(b) Within 30 days from the effective date of this ORDER, the Board shall establish a Board committee (“Directors’ Committee”), consisting of at least five members, to oversee the
Bank’s compliance with the ORDER. At least four of the members of such committee shall be directors not employed in any capacity by the Bank other than as a director. The Directors’ Committee shall formulate and review monthly reports detailing the Bank’s actions with respect
to compliance with the ORDER. The Directors’ Committee shall present a report to the Board at each regularly scheduled Board meeting, and such report shall detail the Bank’s adherence to this
ORDER. Such report shall be recorded in the appropriate minutes of the Board’s meeting and
shall be retained in the Bank’s records. Establishment of this committee does not in any way
diminish the responsibility of the entire Board to ensure compliance with the provisions of this
ORDER.
3
MANAGEMENT
2. (a) Within 60 days from the effective date of this ORDER, the Bank shall have and
retain qualified management with the qualifications and experience commensurate with assigned duties and responsibilities at the Bank. Each member of management shall be provided
appropriate written authority from the Board to implement the provisions of this ORDER. At a
minimum, management shall include the following:
(i) A chief executive officer with proven ability in managing a bank of
comparable size and in effectively implementing lending, investment and operating policies in
accordance with safe and sound banking practices;
(ii) A senior lending officer with a significant amount of appropriate lending,
collection, and loan supervision experience, and experience in upgrading a low quality loan
portfolio; and
(iii) A chief operating officer with a significant amount of appropriate experience in managing the operations of a bank of similar size and complexity in accordance with sound banking practices.
(b) The qualifications of management shall be based on its ability to:
(i) Comply with the requirements of this ORDER;
(ii) Operate the Bank in a safe and sound manner;
(iii) Comply with applicable laws and regulations; and
4
(iv) Restore all aspects of the Bank to a safe and sound condition, including,
but not limited to, asset quality, capital adequacy, earnings, management effectiveness, risk management, liquidity, and sensitivity to market risk.
(c) During the life of this ORDER, the Bank shall notify the Regional Director of the
FDIC’s Atlanta Regional Office (“Regional Director”) and the Department (collectively,
“Supervisory Authorities”), in writing, of the resignation or termination of any of the Bank’s directors or senior executive officers. Prior to the addition of any individual to the Board or the
employment of any individual as a senior executive officer, the Bank shall comply with the requirements of section 32 of the Act, 12 U.S.C. § 1831i, 12 C.F.R. §§ 303.100-303.104, and any
Department requirement for prior notification and approval. If the Regional Director issues a
notice of disapproval pursuant to 12 U.S.C. § 1831i, with respect to the proposed individual, then
such individual may not be added to the Board or employed by the Bank.
CAPITAL
3. (a) During the life of this ORDER, the Bank shall continue to maintain a Leverage
Capital Ratio of at least eight percent (8%) and a Total Risk-Based Capital Ratio of at least ten
percent (10%) as those capital ratios are defined in 12 C.F.R. Part 325.
(b) The level of Tier 1 Capital to be maintained during the life of this ORDER
pursuant to this paragraph shall be in addition to a fully funded allowance for loan and lease losses (“ALLL”), the adequacy of which shall be satisfactory to the Supervisory Authorities as
determined at subsequent examinations and/or visitations.
(c) Within 90 days from the effective date of this ORDER, the Bank shall submit to
the Supervisory Authorities a written capital plan. Such capital plan shall detail the steps that the
5
Bank shall take to achieve and maintain the capital requirements set forth in this ORDER. In developing the capital plan, the Bank shall take into consideration:
(i) The volume of the Bank’s adversely classified assets;
(ii) The nature and level of the Bank’s asset concentrations;
(iii) The adequacy of the Bank’s ALLL;
(iv) The anticipated level of retained earnings;
(v) Anticipated and contingent liquidity needs; and
(vi) The source and timing of additional funds to fulfill future capital needs.
(d) In addition, the capital plan must include a contingency plan in the event that the
Bank has failed to:
(i) Maintain the minimum capital ratios required by this paragraph;
(ii) Submit an acceptable capital plan as required by this subparagraph; or
(iii) Implement or adhere to a capital plan to which the Supervisory
Authorities has taken no written objection pursuant to this paragraph.
(e) The contingency plan shall include a plan to sell or merge the Bank. The Bank
shall implement the contingency plan upon written notice from the Supervisory Authorities.
CHARGE-OFF LOSS AND DOUBTFUL
4. (a) Within 10 days from the effective date of this ORDER, the Bank shall eliminate from its books, by charge-off or collection, all assets or portions of assets classified “Loss” in the
6
Report of Examination dated September 27, 2010 (the “Report”), that have not been previously
collected or charged-off. Elimination of any of these assets through proceeds of other loans
made by the Bank is not considered collection for purposes of this paragraph.
(b) Additionally, while this ORDER remains in effect, the Bank shall, within 10 days
from the receipt of any official Report of Examination of the Bank from the FDIC or the
Department, eliminate from its books, by collection, charge-off, or other proper entry, the
remaining balance of any asset classified “Loss” and 50 percent of those assets classified
“Doubtful” unless otherwise approved in writing by the Supervisory Authorities.
CLASSIFIED ASSET REDUCTION
5. (a) Within 60 days from the effective date of this ORDER, the Bank shall submit a
written plan to the Supervisory Authorities to reduce the remaining assets classified “Substandard” in the Report. In addition, within 60 days from receipt of any future regulatory examination report, the Bank shall submit a written plan to reduce the remaining assets classified
“Doubtful” or “Substandard” in such report. The plan shall address each asset so classified with a
balance of $400,000 or greater and provide the following:
(i) The name under which the asset is carried on the books of the Bank;
(ii) Type of asset;
(iii) Actions to be taken in order to reduce the classified asset; and
(iv) Timeframes for accomplishing the proposed actions.
(b) The plan shall also include, at a minimum:
7
(i) A review of the financial position of each such borrower, including the
source of repayment, repayment ability, and alternate repayment sources; and
(ii) An evaluation of the available collateral for each such credit, including
possible actions to improve the Bank’s collateral position.
(c) In addition, the Bank’s plan shall contain a schedule detailing the projected
reduction of total classified assets on a quarterly basis. Further, the plan shall require the submission of monthly progress reports to the Board and mandate a review by the Board.
(d) The Bank shall present the plan to the Supervisory Authorities for review. Within
30 days from receipt of any comment from the Supervisory Authorities, the plan, including any requested modifications or amendments, shall be adopted by the Board and the approval shall be
recorded in the Board minutes. The Bank shall then immediately implement the plan.
(e) For purposes of the plan, the reduction of adversely classified assets shall be
detailed using quarterly targets expressed as a percentage of the Bank’s Tier 1 Capital plus the
Bank’s ALLL and may be accomplished by:
(i) Charge-off; (ii) Collection; (iii) Sufficient improvement in the quality of adversely classified assets so as
to warrant removing any adverse classification, as determined by the FDIC or the Department;
and/or
(iv) Increase in the Bank’s Tier 1 Capital.
8
NO ADDITIONAL CREDIT
6. (a) Beginning with the effective date of this ORDER, the Bank shall not extend,
directly or indirectly, any additional credit to, or for the benefit of, any borrower who has a loan
or other extension of credit from the Bank that has been charged off or classified, in whole or in
part, “Loss” or “Doubtful” and is uncollected. The requirements of this paragraph shall not
prohibit the Bank from renewing credit already extended to a borrower after full collection, in
cash, of interest due from the borrower.
(b) Additionally, during the life of this ORDER, the Bank shall not extend, directly
or indirectly, any additional credit to, or for the benefit of, any borrower who has a loan or other
extension of credit from the Bank that has been classified, in whole or part, “Substandard.”
(c) The preceding limitations on additional credit shall not apply if the Bank’s failure
to extend further credit to a particular borrower would be detrimental to the best interests of the Bank. Prior to the extension of any additional credit pursuant to this paragraph, either in the form
of an extension or further advance of funds, such additional credit shall be approved by a
majority of the Board or a designated committee thereof, who shall certify in writing that:
(i) The failure of the Bank to extend such credit would be detrimental to the best interests of the Bank, including an explanatory statement of why it would be detrimental to the Bank’s best interests;
(ii) The Bank’s position would be improved thereby, including an explanatory
statement of how the Bank’s position would be improved; and
(iii) An appropriate workout plan has been developed and will be
implemented in conjunction with the additional credit to be extended.
9
(d) The signed certification shall be made a part of the meeting minutes of the Board
or its designated committee and a copy of the signed certification shall be retained in the
borrower’s credit file.
CONCENTRATIONS OF CREDIT
7. Within 60 days from the effective date of this ORDER, the Bank shall perform a risk segmentation analysis with respect to the concentrations of credit listed on the Concentrations page(s) of the Report. The analysis should incorporate applicable guidance set forth in Guidance
on Concentrations in Commercial Real Estate Lending, Sound Risk Management Practices, FIL-
104-2006 (Dec. 12, 2006). Concentrations should be identified by product type, geographic
distribution, underlying collateral, or other asset groups which are considered economically
related, and in the aggregate represent a large portion of the Bank’s Tier 1 Capital and ALLL. A
copy of this analysis and a written plan to systematically reduce the concentrations of credit
identified in the Report shall be provided to the Supervisory Authorities. The analysis, plan and
its implementation shall be in a form and manner acceptable to the Supervisory Authorities at the
initial review and at subsequent examinations and/or visitations.
LENDING AND COLLECTION POLICIES
8. (a) Within 60 days from the effective date of this ORDER, the Board shall ensure the full implementation of its written lending and collection policy to provide effective guidance and
control over the Bank’s lending and credit administration functions, which implementation shall
include the resolution of those exceptions enumerated in the Report. In addition, the Bank shall
obtain adequate and current documentation for all loans in the Bank’s loan portfolio. Such policy
10
and its implementation shall be in a form and manner acceptable to the Supervisory Authorities
at subsequent examinations and/or visitations.
(b) The Board shall adopt procedures whereby officer compliance with the revised
loan policy is monitored and exceptions are reported to the Board. The procedures adopted shall
be reflected in the minutes of a Board meeting at which all members are present and the vote of
each is noted.
ALLOWANCE FOR LOAN AND LEASE LOSSES AND CALL REPORT
9. (a) Immediately upon the issuance of this ORDER, the Board shall make a provision
to replenish the ALLL, which as of the date of the examination was underfunded as set forth in
the Report.
(b) Within 30 days from the effective date of this ORDER, the Board shall review the adequacy of the ALLL and shall maintain a comprehensive policy for determining the
adequacy of the ALLL. For the purpose of this determination, the adequacy of the ALLL shall be
determined after the charge-off of all loans or other items classified “Loss”. The policy shall
provide for a review of the ALLL at least once each calendar quarter. Said review shall be
completed in time to properly report the ALLL in the quarterly Consolidated Reports of Condition and Income. The review shall focus on the results of the Bank’s internal loan review,
loan and lease loss experience, trends of delinquent and non-accrual loans, an estimate of
potential loss exposure of significant credits, concentrations of credit, and present and
prospective economic conditions. The review should include a review of compliance with ASC
450 (Topic 450, “Contingencies”) and ASC 310-10-35 (Section 35, “Subsequent Measurement
General,” of Subtopic 310-10). The policy shall adhere to the guidance set forth in the
11
Interagency Policy Statement on the Allowance for Loan and Lease Losses, FIL-105-2006 (Dec.
13, 2006). A deficiency in the ALLL shall be remedied in the calendar quarter it is discovered,
prior to submitting the next Consolidated Reports of Condition and Income, by a charge to current operating earnings. The Board meeting minutes for the meeting at which such review is
undertaken shall indicate the results of the review. The Bank’s policy for determining the
adequacy of the ALLL and its implementation shall be satisfactory to the Supervisory
Authorities as determined at subsequent examinations and/or visitations.
STRATEGIC PLAN
10. (a) Within 90 days from the effective date of this ORDER, the Bank shall prepare
and submit to the Supervisory Authorities an acceptable written business/strategic plan covering
the overall operation of the Bank. At a minimum the plan shall establish objectives for the Bank’s
earnings performance, growth, balance sheet mix, liability structure, capital adequacy, and
reduction of nonperforming and underperforming assets, together with strategies for achieving
those objectives. The plan shall also identify capital, funding, managerial, and other resources
needed to accomplish its objectives.
(b) The Board shall approve the business/strategic plan, which approval shall be
recorded in the Board meeting minutes for the meeting at which the business/strategic plan was
approved.
BUDGET
11. (a) Within 60 days from the effective date of this ORDER, the Bank shall review and
revise its written plan and a comprehensive budget for all categories of income and expense for
12
the calendar year ending December 31, 2011. The plan and budget required by this paragraph
shall include formal goals and strategies, consistent with sound banking practices, and take into
account the Bank’s other written policies in order to improve the Bank’s net interest margin,
increase interest income, reduce discretionary expenses, control overhead, and improve and
sustain earnings of the Bank. The plan shall include a description of the operating assumptions that form the basis for, and adequately support, major projected income and expense
components. Thereafter, the Bank shall formulate such a plan and budget by November 30, 2011
and November 30 of each subsequent year and submit the plan and budget to the Supervisory
Authorities for review and comment by December 15, 2011 and December 15 of each
subsequent year. The plan and budget required by this ORDER shall be acceptable to the Supervisory Authorities at the initial review and at subsequent examinations and/or visitations.
(b) On a monthly basis, the Board shall continue to evaluate the Bank’s actual
performance in relation to the plan and budget required by this ORDER and shall record the
results of the evaluation, and any actions taken by the Bank, in the minutes of the Board meeting
at which such evaluation is undertaken. The actual performance compared to the budget shall be
submitted to the Supervisory Authorities with the quarterly progress reports required by this
ORDER.
LIQUIDITY AND FUNDS MANAGEMENT
12. (a) Within 60 days from the effective date of this ORDER, the Bank shall review and
revise its written plan to address liquidity, contingency funding, interest rate risk, and asset
liability management.
13
(b) The plan shall incorporate the guidance contained in Liquidity Risk Management,
FIL-84-2008 (Aug. 26, 2008). The plan shall provide restrictions on the use of brokered and
internet deposits consistent with safe and sound banking practices.
(c) A copy of the plan shall be submitted to the Supervisory Authorities and its
implementation shall be in a form and manner acceptable to the Supervisory Authorities at the
initial review and at subsequent examinations and/or visitations.
(d) Beginning with the effective date of this ORDER, the Bank’s management shall
review its liquidity position to ensure that the Bank has sufficient liquid assets or sources of liquidity to meet current and anticipated liquidity needs. This review shall include an analysis of
the Bank’s sources and uses of funds (cash flow analysis). The results of this review shall be
presented to the Board for review each month, with the review noted in the Board meeting
minutes.
ASSET/LIABILITY POLICY
13. Within 60 days from the effective date of this ORDER, the Board shall review and revise,
as necessary, the Bank’s written policy and procedures for managing interest rate risk, taking into
consideration examination findings. The policy shall comply with the Joint Agency Policy
Statement on Interest Rate Risk, FIL-52-1996 (June 26, 1996), shall be consistent with the
comments and recommendations detailed in the Report, and shall include, at a minimum, the means by which the interest rate risk position will be monitored, the establishment of risk
parameters, and provisions for periodic reporting to management and the Board regarding
interest rate risk. Such policy and its implementation shall be satisfactory to the Supervisory
Authorities at subsequent examinations and/or visitations.
14
RESTRICTIONS OF CERTAIN PAYMENTS
14. While this ORDER is in effect, the Bank shall not declare or pay dividends, bonuses, or
any form of payment resulting in a reduction of capital, without the prior written approval of the Supervisory Authorities. All requests for prior approval shall be received at least 30 days prior to
the proposed dividend or bonus payment declaration date (or at least 5 days with respect to any
request filed within the first 30 days from the date of this ORDER) and shall contain, but not be
limited to, an analysis of the impact such dividend or bonus payment would have on the Bank’s capital, income, and/or liquidity positions.
COMPENSATION
15. (a) Within 90 days from the effective date of this ORDER, the Board shall undertake
a review of compensation paid to all of the Bank’s senior executive officers, as defined in 12
C.F.R. § 303.101(b), and implement an employee compensation plan. At a minimum, the review
shall include the following:
(i) An analysis of each officer’s background, experience, duties and responsibilities;
(ii) An evaluation of each officer’s performance compared to the present level
of compensation;
(iii) A comparison of each officer’s total compensation to compensation received by officers with similar responsibilities in similar institutions; and
15
(iv) A determination of whether present officers are capable of implementing
Board directives and policies, complying with applicable laws and regulations, and operating the
Bank in a prudent manner.
(b) For the purposes of this paragraph, “compensation” refers to any and all salaries,
bonuses, and other benefits of every kind and nature whatsoever, whether paid directly or
indirectly. The compensation plan and its implementation shall be in a form and manner
acceptable to the Supervisory Authorities.
INTERNAL AUDIT PROGRAM
16. Within 90 days from the effective date of this ORDER, the Bank shall review and revise
its internal audit program for the Bank to provide adequate internal routines and controls within
the Bank consistent with safe and sound banking practices. Such program and its implementation
shall, at a minimum, be comprehensive in scope to address all areas that pose an elevated risk to
the Bank as more fully set forth in the Report and shall be satisfactory to the Supervisory Authorities at the initial review and at subsequent examinations and/or visitations.
OTHER REAL ESTATE
17. Within 60 days from the effective date of this ORDER, the Board shall review and revise
its written policy for managing the Other Real Estate of the Bank. Such policy shall be consistent
with all applicable laws, regulations, and other regulatory guidelines regarding appraisals,
including, but not limited to, the FDIC’s appraisal regulations as described in 12 C.F.R. § 323,
and Guidance on Other Real Estate, FIL-62-2008 (July 1, 2008). The Bank shall submit the
policy to the Supervisory Authorities for review. The Bank shall approve the policy, which
16
approval shall be recorded in the Board meeting minutes. Thereafter, the Bank shall implement
and fully comply with the policy.
BROKERED DEPOSITS
18. Throughout the effective life of this ORDER, the Bank shall not accept, renew, or
rollover any brokered deposit, as defined in 12 C.F.R. § 337.6(a)(2), unless it is in compliance
with the requirements of 12 C.F.R. § 337.6(b) which governs the solicitation and acceptance of
brokered deposits by insured depository institutions. The Bank shall comply with the restrictions on the effective yields on deposits as described in 12 C.F.R. § 337.6.
SPECIAL MENTION
19. Within 60 days from the effective date of this ORDER, the Bank shall correct the cited
deficiencies in the loans listed for “Special Mention” in the Report.
NO MATERIAL GROWTH WITHOUT NOTICE
20. While this ORDER is in effect, the Bank shall notify the Supervisory Authorities at least
60 days prior to undertaking asset growth that exceeds ten percent (10%) or more per annum or
initiating material changes in asset or liability composition. In no event shall asset growth result in noncompliance with the capital maintenance provisions of this ORDER unless the Bank
receives prior written approval from the Supervisory Authorities.
VIOLATIONS OF LAW, REGULATION, AND CONTRAVENTION OF POLICY
21. Within 30 days from the effective date of this ORDER, the Bank will eliminate and/or
correct all violations of laws, regulations, and/or contraventions of statements of policy in the
17
Report and shall adopt and implement appropriate procedures to ensure future compliance with all such applicable federal and state laws, regulations, and/or statements of policy.
PROGRESS REPORTS
22. Within 30 days from the end of the first full quarter following the effective date of this
ORDER, and within 30 days from the end of each quarter thereafter, the Bank shall furnish
written progress reports to the Supervisory Authorities detailing the form and manner of any
actions taken to secure compliance with this ORDER and the results thereof. Such reports shall
include a copy of the Bank’s Consolidated Reports of Condition and of Income. Such reports
may be discontinued when the corrections required by this ORDER have been accomplished and
the Supervisory Authorities have released the Bank in writing from making further reports. All progress reports and other written responses to this ORDER shall be reviewed by the Board and
made a part of the appropriate Board meeting minutes.
SHAREHOLDER DISCLOSURE
23. Within 45 days from the effective date of this ORDER, the Bank shall provide to its
shareholders or otherwise furnish a description of this ORDER, in conjunction with the Bank’s next shareholder communication and in conjunction with its notice or proxy statement preceding the Bank’s next shareholder meeting. The description shall fully describe this ORDER in all material respects. The description and any accompanying communication, statement, or notice
shall be sent to the FDIC, Division of Supervision and Consumer Protection, Accounting and
Securities Disclosure Section, 550 17th Street, N.W., Room MB-5073, Washington, D.C. 20429
and to the Commissioner, Georgia Department of Banking and Finance, 2990 Brandywine Rd.,
Suite 200, Atlanta, Georgia 30341-5565 for non-objection or comment at least twenty (20) days
18
prior to dissemination to shareholders. Any changes requested by the FDIC or the Department
shall be made prior to dissemination of the description, communication, notice, or statement.
The provisions of this ORDER shall not bar, stop, or otherwise prevent the FDIC, the Department, or any other federal or state agency or department from taking any other action
against the Bank or any of the Bank’s current or former institution-affiliated parties.
This ORDER shall be effective on the date of issuance.
The provisions of this ORDER shall be binding upon the Bank, its institution-affiliated
parties, and any successors and assigns thereof. The provisions of this ORDER shall remain effective and enforceable except to the extent
that and until such time as any provision has been modified, terminated, suspended, or set aside
by the FDIC.
Issued Pursuant to Delegated Authority.
Dated this 2nd day of June, 2011.
/s/
By: Thomas J. Dujenski
Regional Director
Division of Supervision and Consumer Protection
Federal Deposit Insurance Corporation
19
The Georgia Department of Banking and Finance having duly approved the foregoing
ORDER, and the Bank, through its Board, agree that the issuance of said ORDER by the FDIC
shall be binding as between the Bank and the Georgia Commissioner of Banking and Finance to
the same degree and to the same legal effect that such ORDER would be binding if the
Department had issued a separate ORDER that included and incorporated all of the provisions of
the foregoing ORDER, pursuant to Official Code of Georgia Annotated § 7-1-91(1985).
Dated this 31st day of May, 2011.
/s/ By: _______________________________
Robert M. Braswell Commissioner
Department of Banking and Finance
State of Georgia

Conway Bank Conway South Carolina

July 18, 2011

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?

Enterprise Bank of Florida North Palm Beach Florida

July 18, 2011

Take a look at the new site

capital2risk.com

This is Hugh Jacobs he runs this debacle

Why is Hugh going bald? He is sitting on $14,000,000 in junk loans

Enterprise Bank of Florida, North Palm Beach Florida was founded in 1991.  For some reason, they aren’t on the problem bank list. I guess a Texas ratio of 63%, won’t cut it in Florida these days.

This is Michael McAvoy, he makes all the sh$$t loans

Michael has about 12 chins, he ain’t missing an meals

Assets are $256MM, with equity of $28MM.

The company has $28MM in problem loans, with $11MM in non accrual construction loans.

Wait, they have $28MM in bad loans with only$28MM in equity?

Do you think  this place should at least be on the problem bank list?

This enterprise is bankrupt.

Timothy Terry, the CEO, did a great job of racking a ton of bad loans.

Do you have money in this disastrous Enterprise?

First National Bank of Brookfield Brookfield Illinois

July 18, 2011

First National Bank of Brookfield, Brookfield Illinois was founded 1962.  The company is on the problem bank list.  The Texas ratio is 326%.

Assets are $174MM and $10MM in equity.

The problem loan portfolio is $57MM.

With $57MM in problem loans and $10MM in equity, do you think this place is bankrupt?

Why is this place still open?

Do you bank with this group?

Americana Community Bank Sleepy Eye Minnesota

July 18, 2011

This is Bob Dittrech

Bob bankrupted a 100 year

Bob got his bank on the problem bank list

Bob’s bank is on the under capitalized bank

This is one on the worst banks in the country

Do you have money in this bankrupt disaster

Bob should be in jail

Americana? only in sleepy eye

Americana Community Bank, Sleepy Eye Minnesota was founded in 1881. They are on the problem bank list.  The Texas ratio is 144%.

They are also on the under capitalized bank list.  They might as well be on the insolvent bank list.

Assets are $133MM with $3.6MM in equity.

The problem loan portfolio is $12MM.

This bank is looking pretty insolvent.

Why is this place still open?

These cats are a little sleepy eyed when the make loans.

HarVest Bank of Maryland Gaithersburg Maryland

July 18, 2011

This is John Hollerbach

John got his bank on the problem bank list

John lost $2,800,000 in Q4 2011

John wiped out 75% of the remaining equity in only 90 days

Why is John bald? John is sitting on $27,000,000 in bad loans with only $4,780,000 in equity

This could be the worst bank in the state



HarVest Bank of Maryland, Gaithersburg Maryland was founded in 2003.  The company is on the problem bank list for weaknesses in management, earnings, asset quality and capital. That might explain the Texas ratio of 323%.

They are also on the under capitalized bank list.  You could even throw them on the insolvent bank list.

Assets are $153MM with equity of $5MM.

The problem loan portfolio is $38MM.

This abortion is BANKRUPT!

They have $38MM in bad loans and $5MM in equity.

This place is bankrupt, why aren’t they shut down?

This management team wiped out 240% of the equity in only 3 years.

It didn’t take this crew long to bankrupt this place.

With net income of $4.1MM and over head of $8.5MM, these team loses money just opening the doors.  They might want to get a grip on the operating leverage.

Is this your bank?

Farmers Bank of Lynchburg Lynchburg Tennessee

July 18, 2011

How does for ever sound, break out the J.D.

Farmers Bank of Lynchburg, Lynchburg Tennessee was founded in 1890.  The company is on  the under capitalized bank list.  They might as well slap them on the insolvent bank list.

Assets are $202MM, with equity of $21MM.

The problem loan portfolio is $8MM.

Net income was ($6MM) in FY10.  They lost another $163k in Q1 2011.

In FY10, net income was $7MM and the overhead was $10MM.  This place loses money, just opening the door.  Do you think they may want to fix the operating leverage?

The way this place is going, they might as well close the thing and head over to the J.D. plant.

Citizens State Bank Hudson Wisconsin

July 18, 2011

They should fire tom Van Pelt and hire these guys, can’t be any worse

These cats wounded engage in unsafe and unsound lending

Citizens State Bank, Hudson Wisconsin was founded in 1901.  The company is on the problem bank list for unsafe and unsound lending practices.  The Texas ratio is 129%.

They are also on the under capitalized bank list. You might as well throw them on the insolvent bank list, while you are at it.

Assets are $140MM with equity of $6MM.

The problem loan portfolio is $13MM.

Having $13MM in problem loans and $6MM in equity is making this place look bankrupt.

Not only can these folks make bad loans, they are great at losing money.  Net income was ($2MM) in FY10 and ($5MM) in FY09.  They lost another $472k in Q1 2011.

Tom Van Pelt is the CEO, the company made it through the Great Depression but it won’t survive him.

Take a look at the website.  Check out the real estate for sale, they have 160 vacant lots for sale.  Who in their right mind finances vacant lots.  I guess tom Van Pelt does, with abandon.

Cornerstone Bank Wilson North Carolina

July 16, 2011

Take a look at the new site

capital2risk.com

This is Norm Osborn he wiped out the shareholders

Norm’s bank is on the problem bank list

Norm wiped out 275% of the equity in only 3 years

Cornerstone Bank Wilson North Carolina was founded in 2000.  This place is a piece or work.  They are on the problem bank list.  A Texas ratio of 223%, might do that to you.  The stock is delisted

They are also on the under capitalized bank list.  They should be on the insolvent bank list.

Assets are $161MM with equity of $4MM.

The problem loan portfolio is $20MM.

So, they have $20MM in bad loans and $4MM in equity?

They are bankrupt!

How about closing this disaster down.

Net income was ($7.6MM) in FY10 and ($1.8MM) in FY09.  They lost another $159k in Q1 2011.

Norm Osborn is the CEO, this cat wiped out 275% of the equity in the last 3 years.

Check out the FYE10 financial statement, the auditors question their going concern value. You think!

Take a look at the website, they are doing a stock offering.

They state that it is ” rare opportunity”.  I don’t doubt that, it is a rare opportunity to lose all of your money.

It requires a $100k minimum with a 5% coupon.  How the hell can they pay a coupon, all they do is lose money.

What kind of dope would invest money with Norm Osborn and his bankrupt bank?

Do you have money in this debacle?

Cornerstone Bank?   They are on the cornerstone of bankruptcy.

First Choice Bank Geneva Illinois

July 16, 2011


This is Jim Valete, the CEO, he is responsible for getting this place on the problem bank list

Jim’s bank is also on the under capitalized bank list

Jim wiped out 275% of the equity in only 3 years.

  Jim would not be my First Choice as the CEO, he’s be the last!

Is this your bank? It wouldn’t be my First Choice

That is Jim in the middle, why is this clown giving money away? This place is bankrupt.

First Choice Bank, Geneva Illinois was founded in 2001.  They are on the problem bank list.  The Texas ratio is 222%.

They are also on the under capitalized bank list.

Assets are $149MM with equity of $5MM.

The problem loan portfolio is $23MM.

With $23MM in problem loans and $5MM in equity, this place is bankrupt.

Why isn’t this place closed down?

Net income was ($8.8MM) in FY10.  They lost $1.3MM in Q1 2011.

Jim Valete is the CEO, he wiped out 275% of the equity in only 3 years.

Do you have money here?

This bank wouldn’t be my first choice.

Gobal Commerce Bank Doraville Georgia

July 16, 2011

Hire this guy as CEO, he conservative christian values, married 3 times

He makes $1.8MM  a year to consult Fannie, hold on they are bankrupt and owned the tax payer

So the government uses your tax dollars to pay this guy to bankrupt a government entity, legal

Global Commerce Bank, Doraville Georgia was founded in 1995.  The Texas ratio is 293%.

What the hell is Global Commerce?     $4.5MM in equity

The company is on the under capitalized bank list.

Assets are $147MM with equity of $4.5MM.

The problem loan portfolio is $48MM.

They have $48MM in bad loans and $4.5MM in debt, this place is bankrupt.

Check out the website, they won’t tell you who the CEO is.

Whoever it is, they wiped out 300% of the equity.

Do you have money in this place?

First National Bank of Baldwin County Foley Alabama

July 16, 2011

This place lost $4,441,000 in Q4 2011, wiping half of the remaining equity

The Texas ratio is 90%, this is one of the worst banks in the state

Do you have money in this bankrupt entity?

Hazardous Commercial Lending

Can’t be any more hazardous than these 3

First National Bank of Baldwin County, Foley Alabama was founded in 2001.  The company is on the problem bank list, for hazardous commercial real estate lending.  The Texas ratio is 76%.

They are also on the under capitalized bank list.  They might as well be on the insolvent bank list.

Assets are $244MM with equity of $14MM.

The problem loan portfolio is $14MM.

Do you think this place is bankrupt?

Net income was ($4.7MM) in FY10 and ($5MM) in FY09.  They lost another $1.3MM in Q1 2011.

Wade Neth is the CEO, who bankrupted this place.

He wiped out 43% of the equity in 3 years.

Hey Wade, the net income was $7MM and the overhead was $8MM in FY10.  Do you think there is a problem with the operating leverage?

You lose money just opening the door, let alone making a ton of bad loans.

Patterson Bank Patterson Georgia

July 16, 2011

Are these you banksters, William Hughes wiped out a 100 year old bank

Patterson Bank, Patterson Georgia was founded in 1907.  They are on the problem bank list.  I guess with a Texas ratio of 238%, they are well qualified.

They are on the under capitalized bank list.  If there were an insolvent bank list, they would be on it also.

Assets are $151MM with equity of $6MM.

There are $29MM in problem loans.

With $29MM in problem loans and $6MM in equity, this bank is F$$??ing bankrupt.

Maybe this thing should be closed down.

Net income was ($2.6MM) in FY10 and ($1.6MM) in FY09.  They lost another $557k in Q1 2011.

This place will be wiped out in no time.

William Hughes is the CEO, he destroyed 100% of the capital in only 3 years, this guy is good.

The bank survived the Great Depression but it won’t survive William Hughes.

Do you have money in this bankrupt place?

William Hughes will take care of that for you.

This bank survived the great depression but it won’t survive William Hughes.

First Southern Community Bank Statesboro Georgia

July 16, 2011

First southern Community, Bank Statesboro Georgia was founded in 2002.  They are on the problem bank list, for hazardous commercial real estate lending.  The Texas ratio is 287%.

Assets are $174MM with equity of $4MM.

The problem loan portfolio is $34MM.  They have $12MM in non accrual construction loans, that alone will wipe them out.

They have $34MM in problem loans with $4MM in equity.

This bank is beyond bankrupt.

Why is this place not closed down?

Net income was ($14MM) in FY10 and ($9MM) in FY09.  They lost another $2.4MM in Q1 2011.

F. David Thomas is the CEO, this guy destroyed 375% of the equity in only 3 years.

David what does the F. stand for ?  I really F$?$*ed up this place in record time.

F$?$*ed is going to be what the tax payer is, when they have pay for the ignorance of F. David Thomas.

How about putting him in the first southern jail!

This place will be bankrupt in a few months.

Do you money in this bank?

You have the Statesboro blues!

Creekside Bank Woodstock Georgia

July 16, 2011

Hire this cat as CEO, he is cagey

Creekside Bank, Woodstock Georgia was founded in 2006.  Great timing.  They are on the problem bank list.  That might explain the 600% Texas ratio.

They are also on the under capitalized bank list.  If there were an insolvent bank list, they would be on that also.

Assets are $103MM, with equity of $2MM?

There are $27MM in problem loans.

What, there are $27MM in problem loans with $2MM in equity!

Do you think this place is bankrupt?

Why isn’t this thing closed down?

Larry Peterson the CEO, wiped out 287% of the equity in record time.

Net income was ($4.5MM) in FY10 and ($5.4MM) in FY09.  They lost another $507k in Q1 2011.

Larry Peterson is great at making bad loans and losing money.

Is anyone looking for an incompetent CEO?

Do you have money in this place?

Sunrise Bank Cocoa Beach Florida

July 16, 2011

 

Take a look at the new site

capital2risk.com

This is Larry Roselle, he got this place on the problem bank list

his place is bankrupt, Sunrise how about sunset, how about putting this guy in jail

Sunrise Bank Cocoa Beach Florida was founded in 2005.  Great timing.  They are on the problem bank list.  I guess when the Texas ratio is 240%, there might be a problem.

They are on the under capitalized bank list.  If there were an insolvent bank list, they would be on there also.

Assets are $121MM with equity of $1MM.

The problem loan portfolio is $17.5MM.

Holy S$$$$?t, they have $17.5MM in bad loans and $1MM in equity, this place is bankrupt.

The question is not when, but how soon will they shut this disaster down.

Talk about a zombie bank.

Larry Rosselle ran this place into the ground in record time, he should be in jail.

This clown wiped out 467% of the equity in 3 years.

Do you have money in this disaster.

The sun is not rising on Larry Rosselle, he needs to be incarcerated.

North State Community Bank Raleigh North Carolina

July 15, 2011

        Check out Larry Barbour, he gets paid $385k, which includes a country club membership and a car allowance

The stock is de listed as he wiped out the stockholders

Do you have money with Larry?

North State Community Bank, Raleigh North Carolina was founded in 2000.  The stock is delisted.

Assets are $649MM with equity of $51MM.

The problem loan portfolio is $37MM.

They have $37MM in bad loans supported only $51MM in equity.

Why isn’t this place on the problem bank list?

The management team ran this place into the ground in record time, but they still pay themselves well.

Larry Barbour     “earned”  $385k

Kirk Whorf                  made$157k

David Shipp               made $183k

Sandra Temple          made $169k

William Wiley             made $107k

J. Kenneth  Sykes      made $687k

Margaret Pattison     made $179k

These salaries include country club fees and car allowances.

Larry Barbour got $31k in auto allowances and $21k in country club fees.  That is probably more than the average wage in North Carolina

Larry who is better than you, you wiped out the stockholders, bankrupted the company, and they pay you to play golf!

Maybe it is better if Larry is out golfing, it may stop him from making more bad loans.

J. Kenneth Sykes gets paid 40 basis points for his mortgage production, sounds somewhat illegal.

Net income was $1.4MM in FY10 and these executives made $1.8MM.  They make more than the whole company combined. That might be why the stock is delisted?

Do you have money in this zombie?

You are paying for Larry’s country club fees.

KS Bank Smithfield North Carolina

July 15, 2011

KS Bank Smithfield North Carolina was founded in 1924.   The company took $5MM in tax payer funded bailout money, which it won’t pay back.   The Texas ratio is 53%.  The stock is delisted.

Assets are $334MM with equity of $30MM.

The actual equity is $26MM, as the $4MM in tax payer funding is debt not preferred stock.

The problem loan portfolio is $31MM.

Hold on they have $31MM in problem loans with only $26MM in equity and they aren’t on the problem bank list?

This place is insolvent.

Why are they not on the problem bank list?

Harold Keen is the CEO.

Harold, where is the $4MM you stole from the tax payers?

Harold you took tax payer money, which you won’t pay back, and wiped out the stockholders.

Do you have money in this bank?

KY bank, lubed by tax payer money.

Crescent Bank Myrtle Beach South Carolina

July 15, 2011

Take a look at the new site

capital2risk.com

Check out David Morrow, he bankrupted this place in record time

He racked up $30MM in bad loans

Do you have money in this disaster?

David Morrow has bankrupted this place

Crescent Bank, Myrtle Beach South Carolina was founded in 2001. The Texas ratio is 81%.

Assets are $355MM with equity of $22MM.

The problem loan portfolio is $30MM.

So, they have $30MM in bad loans, with only $22MM in equity and they aren’t on the problem bank list?

This place is an insolvent, zombie bank.

Net income was ($12MM) in FY10 and they lost $553k in Q1 2011.

They lost $1.7MM in Q2 2011.

The CEO, David Morrow, wiped out 45% of the equity in only 3 years.

Do you have money in this insolvent place?

They are on the Crescent of bankruptcy.

Bank of the Lakes Owasso Oaklahoma

July 15, 2011

Mike Gibson is looking for your money?

 

Bank of the Lakes, Owasso Oklahoma as founded in 1976.  The Texas ratio is 62%

Assets are $184MM with equity of $19MM.

The problem loan portfolio is $19MM.

Wow, having $19MM in equity and $19MM in bad loans, can’t even get you on the problem bank list these day.

The CEO Mike Gibson, did a good job sinking this ship.

Do you have money in this thing?

You might want to jump into the lake.

Mike Gibson should be able to bankrupt this place in the near future.

This guy has got talent.

American Bank and Trust Davenport Iowa

July 15, 2011

would you  bank and trust with this place, I’ll stick Bernie Madoff

American Bank and Trust, Davenport Iowa was founded in 1999.  The company is on the problem bank list.  The Texas ratio is 65%.

Assets are $529MM, with equity of $41MM.

The problem loan portfolio is comical.  They have $31MM in problem loans, these jokers have $13MM in construction loans on non accrual.

With $31MM in bad loans and $41MM in equity, this place is insolvent.

Why isn’t this thing closed?

Net income was ($6MM) in FY10 and ($3MM) in FY09.  They lost another $921k in Q1 2011.

Thomas Criswell is the CEO who wiped this place out.

He eroded 31% of the equity in only 3 years.

Thomas, in FY10, net income was $21MM and the overhead was $33MM.  Do you think there is problem with the operating leverage?

These guys lose money just opening the doors, couple that with all the bad loans they make.  This place is a walking disaster.

Do you keep your money here?

Idaho Independent Bank Coeur D’Alene Idaho

July 15, 2011

Jack Gustavel ran this bank into the ground and wiped out the stockholders

He pays himself $480K, which includes a country club membership a a car allowance.

This cat is adept at making bad constuction loans

Why is he smiling, for getting paid $480k to destroy a bank, I would be smiling also

Idaho Independent Bank, Coeur D’Alene Idaho was founded in 1993.  The stock is delisted.

Assets are $447MM with equity of $55MM.

The problem loan portfolio is impressive.  They have $49MM in problem loans.  Get this, they have $30MM in construction loans on non accrual.

With $49MM in problem loans and $55MM in equity, this place is insolvent.

This zombie should closed.

Why isn’t this place on the problem bank list. I would think being insolvent would be a problem.

The executives ran this place into the ground but at least they pay themselves well to do it.

Jack Gustavel      made $480k

Paul Montreul   made $143k

Kurt Gustavel   made $246k

Rod Colwell       made $140k

This includes country club fees and car allowances.

The Gustavel’s, wiped out the shareholders, bankrupted the bank and get paid to play golf.  These clowns have it made.

Do you have money in this zombie bank?

The Gustavel’s need your money for the country club fees.

Citizens Independent Bank Saint Louis Park Minnesota

July 15, 2011

This place is history, thanks Brad

Citizens Bank Saint Louis Park Minnesota was founded in 1950.  For some reason, they are not on the problem bank list.

Assets are $309MM with equity of $25MM.

The problem loan portfolio is $31MM.

Hold on, they have $31MM in problem loans and $25MM in equity.

Do your think, they should probably be on the problem bank list.

They are looking pretty insolvent.

Brad Bakken, the CEO, has done a good job of racking up problem loans.

Farmers Bank & Trust Bend Kansas

July 15, 2011

Would you bank or trust this place, talk about getting bent

Thanks Bill Robbins, you wiped out a 100 year bank

Farmers Bank and Trust Bend Kansas was founded in 1907.  The company is on the problem bank list.  The Texas ratio is 39%.

Assets are $642MM with equity of $70MM.

The problem loan portfolio is $38MM.

The problem loan portfolio could wipe out a significant level of the equity position.

Maybe that is why they are on the problem bank list.

Bill Robbins is the CEO, this place might have survived the recession but is might not survive Bill Robbins.

Do you have $ in this bank?

Bill Robins will bend you over. Get Bent

The Farmers Bank of Bulh Idaho

July 15, 2011

Mike Hanlton destroyed this 100 year old bank, with hazardous lending

The Famers Bank of Bulh Idaho was founded in 1917.  The company is on the problem bank list for hazardous commercial real estate lending.

Assets are $369MM with equity of $47MM.

The problem loan portfolio is $42MM.

That is pretty scary, $42MM in bad loans with $47MM in equity.

This place is technically insolvent.

The problem loans, could easily wipe out the rest of the equity.

Mike Hanlton is the CEO, this place survived the great depression, can it survive Mike Hanlton.

Got money in this place? You might be hanging with Mike Hanlton and his swine.

Communityone Bank Ashboro, NC

April 19, 2011

Communityone Bank of Asheboro, NC was founded in 1907.  They have a Texas ratio of of 321%.  They entered into a consent agreement on 7/22/10,   The stock was delisted on March 22 2011.  They need to raise $300MM in capital by July 31 2011 or they are in default with SunTrust on their subordinated debt.

Take a look at Q2 2011,  they lost $91MM.  The resulting equity is ($58MM).  This bank is history.  Why aren’t they closed down?

They are on the under capitalized bank list with tier 1 risk based capital of (.87%), that means they are bankrupt

They have $1.9B in assets, with $1.2B in loans.

Problem loans that are 30-90 days past due are $25M, non accrual loans are $152MM and OREO is $65MM.  This is supported by $46MM in equity.

The equity position eroded from $265MM in FY08, down to $45M in FY10. That is down 475% .

They lost $86MM in FY09 and $108MM in 2010.

The market Capitalization is $3MM, this stock is trading at 7% of equity (though they are delisted)

Why isn’t this thing closed down?

This could be the most under capitalized banks in the country

Do you have money in this disaster?