Posts Tagged ‘FDIC Bankrupt’

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?

Tennessee State Bank Pigeon Forge Tennessee

February 14, 2012

Take a look at the new site

capital2risk.com

Take a look at the new site capital2risk.com much faster

This is Todd Proffit, he is the clown in the middle

Todd got this disaster on the problem bank list

Todd has $67,000,000 in bad loans with only $57,000,000 in equity

Todd your bank is F$$ing bankrupt

Todd Prof$$tt that is a FU$$Kiing oxymoron

Todd is sitting on $73,000,000 in junk loans, that ain’t pigeon shit

The fat bald slob on the left is Scott Henry, even Dolly wouldn’t touch this guy

R Scott Henry, can you get a bigger fatter head than this

This Wayne Ayers he is on the board of this bankrupt disaster

It looks like a pigeon took s shit on his head

This bank is bankrupt and is on the problem bank list

 


Tennessee State Bank Pigeon Forge Tennessee was founded in 1972.  The place is sitting on the problem bank list.  These clowns really loaded up on the real estate.  The Texas ratio is 103%

Assets are $765MM with equity of $57MM.

$73,000,000 in Shit loans “banking at it’s best”

The problem loan portfolio is immense.  They have $73MM in bad loans with $61MM on non accrual.

Having $73MM in bad loans supported by $57MM in equity is a problem.

This place is insolvent and should be closed.

Take a look at the vacant land they have for sale, are you sitting down, they have about 100 vacant lots for sale. Who in their mind finances vacant land for spec. houses? Apparently, these dopes do.

This thing is a disaster, what is this place going to cost the tax payer?

Their motto is “banking at it’s best”, they want to change that to “banking at it’s worst”

You can’t make this up, the CEO is named Todd Proffitt, the only one making a profit is Todd. He did a prophetic at job running this place into the ground.

What is a Pigeon Forge?

This town is home to the Titanic Museum, Tennessee State Bank sunk faster than the Titanic did.

You are not going to believe this, it is also home to Dollywood.

She would get along well with the bimbo’s running this bank.

Her two assets are worth more than those 100 vacant lots combined.

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Lee P. Lewis at (865)908-5759.
** To view a home or property, click on the address link **
Address Description Amount
117/119 Hardin Lane
Sevierville, TN
  • Duplex containing 1 bed/1 bath 700 sq. ft. unit and 3 bed/1 bath 1,450 sq. ft. unit
  • Situated on two parcels containing total of 0.5744 +/- acres
  • Currently listed with Karen Whitlock of Karen Whitlock Realty
$172,500
803 Willow Wood Circle
Sevierville, TN
  • 3 bedroom/3 bath house with 2,455 sq. ft.
  • 1.5 story situated on Lot 4 Willow Creek, 5.05 +/- acres
  • Currently listed with Terri Williams of Remax Realty
$374,900
Lots 46R and 47R, Timber Woods Lot 46R Timber Woods

  • Vacant unimproved lot containing 1.60 +/- acres
$49,900
Lot 47R Timber Woods

  • Vacant unimproved lot containing 1.03 +/- acres
$39,900
Lot 15, Country Manor Estates
  • Vacant unimproved lot 15 Country Manor Estates containing 0.39 +/- acres
$37,500
Lot 20, Saddleback Ridge
Sevierville, TN
  • All public utilities
  • 0.31 +/- acres
  • Zoned R-2 Medium Density Residential
  • Property listed with Ginger Riggs of Thompson Carr
$39,900
Lots 1-4 and 6-9
Spoon Hollow Estates
Rutledge, TN
To be sold as two mini farms
  • 51.59 +/- acres in Grainger County
  • 2 small ponds located on tracts 1 and 2
  • Private well and septic
  • Directions: From I-40 take exit 417 to TN-92 toward Jefferson City/Dandridge. Turn left toward Jefferson City. Follow TN-92 until it meets TN-375. Turn right at TN-375. Turn left at Spoon Hollow Road.
  • Property listed with Mike Newman of Home & Garden Real Estate
Price ReductionLots 1-4
Spoon Hollow
$91,900Lots 6-9
Spoon Hollow
$119,000
2127 Luzerne Drive
Gatlinburg, TN
  • 3 Bedrooms
  • 2.5 Baths
  • 1,980 sq. ft.
  • Situated on 0.48 +/- acres
  • Property listed with Karen Whitlock RealtyProperty listed with Karen Whitlock Realty
Price Reduction$214,900
Lot #2, Leconte Landing
Sevierville, TN
  • Private septic
  • City Water
  • 0.75 +/- acres
  • Property listed with Terri Williams of Remax Realty
$49,900
Lot 51, 52 & 53
Vickwood Hills
Pigeon Forge, TN
  • City utilities
  • 1.60 +/- acres
  • Zoned R-2 Low Density Residential
  • Property listed with Terri Williams of Remax Realty
$74,900
Lots 99 & 100
Foothills Estate
Seymour, TN
  • Lot 99 – 1.0 +/- acres
  • Lot 100 – 1.28 +/- acres
$25,000
(for both lots)(Offers will be considered on each lot separately as well)
3056 Hatcher Mountain Road
Sevierville, TN
  • Two-story Home
  • 3,330 sq. ft.
  • 4 Bedrooms
  • 4.5 Baths
  • Situated on 0.70 +/- acres
  • Private well/septic
  • Property listed with Terri Williams of Remax Realty
Price Reduction$294,900
Lots 4 and 5 of Thunder Mtn.
Sevierville, TN
  • Lot 4 consists of 0.63 +/- acres
  • Property listed with Terri Williams of Remax Realty
  • Lot 5 consists of 0.67 +/- acres
  • Property listed with Terri Williams of Remax Realty
$50,000
(Lot 4)$75,000
(Lot 5)
Lots 53, 60, 64 of Regency Park
Sevierville, TN
  • Lot 53 consists of 0.78 +/- acres
  • Property listed with Terri Williams of Remax Realty
  • Lot 60 consists of 1.0 +/- acres
  • Property listed with Terri Williams of Remax Realty
  • Lot 64 consists of 0.91 +/- acres
  • Property listed with Terri Williams of Remax Realty
$70,000
(Lot 53)$55,000
(Lot 60)$55,000
(Lot 64)
Lot 23 Serenity Cove North
Mountain Dreams Way
Sevierville, TN
  • 1.20 +/- acres
  • Private Well & Septic
  • Underground utilities
  • Currently listed with Chris Gonzalez of Pristine Realty
$69,900
Lot 1 of Thunder Mountain Subdivision
Red Sky Drive
Sevierville, TN
  • 1.15 +/- acres
  • City Water & Sewer
  • Property listed with Terri Williams of Remax Realty
$109,900
Lot 3 of Leconte Landing
Alum Cave Cove Road
Sevierville, TN
  • 0.83 +/- acres
  • City Water
  • Private Septic
  • Underground Utilities
  • Property listed with Terri Williams of Remax Realty
$45,900
Lots 49-52 Smoky Cove Phase II and Lots 102-104 Phase III
  • Property listed with Thomas King of Brackfield & Associates
$245,160
49.025 acres situated along Goose Gap Road
Sevierville, TN
  • Property listed with Thomas King of Brackfield & Associates
$655,000
Lot 8R-2 of the Hatcher Farm off Hatcher Mountain Road
Sevierville, TN
  • 0.83 +/- acres
  • Property listed with Terri Williams of Remax Realty
$39,900
Lot 8R-3 of the Hatcher Farm off Hatcher Mountain Road
Sevierville, TN
  • 1.18 +/- acres
  • Property listed with Terri Williams of Remax Realty
$32,000
Lot 3 Tinker Hollow Road
Memory Mountain Retreat
&Lot 4 Tinker Hollow Road
Memory Mountain Retreat
  • 0.23 +/- acres
  • Property listed with Terri Williams of Remax Realty
  • 0.49 +/- acres
  • Property listed with Terri Williams of Remax Realty
$32,000
Lot 97 Rippling Waters Circle
Cool Springs Subdivision
Sevierville, TN
  • 0.45 +/- acres
  • Property listed with Michele Karl of Priority Real Estate
$49,900
1039 Boyds Creek Highway
Seymour, TN
  • 5,000 sq. ft. office building situated on 1.21 +/- acres
$474,900
116 John L Marshall Drive
Sevierville, TN
  • 6 Bedrooms
  • 2 1/2 Baths
  • 3,558 sq. ft. living area with 1,460 sq. ft. basement situated on 0.80 +/- acres
  • Property listed with Karen Whitlock Realty
Price Reduction$304,900
Lots 28 of Thunder Mountain Subdivision
Sevierville, TN
  • Lot 28 – 1.04 +/- acres
  • Property listed with Terri Williams of Remax Realty
$109,900
1038 Leslie Way
Sevierville, TN
  • 3 Bedrooms
  • 3 Baths
  • 2,081 sq. ft. situated on 0.69 +/- acres
  • Property listed with Karen Whitlock Realty
Price Reduction$264,900
River Crossing Condos
1410 Hurley Drive
Sevierville, TN
  • Consists of a six story 30 unit condominium building
  • Situated on a 2.160 +/- acres site
  • One, two & three bedroom units
  • Property listed with Barry Slade of KW Commercial
  • Individual Unit Pricing As Follows:
For pricing on property as a whole, contact Lee Lewis at (865) 908-5759.
  • First Floor Units:
    • Unit 101
      • 3 Bedrooms/2 Baths; 1,548 sq. ft.
$205,900
    • Unit 102
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$159,900
    • Unit 103
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$159,900
    • Unit 104
      • 1 Bedroom/1 Bath; 861 sq. ft.
$121,900
    • Unit 105
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$163,900
  • Second Floor Units:
    • Unit 201
      • 3 Bedrooms/2 Baths; 1,548 sq. ft.
$199,900
    • Unit 202
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$157,900
    • Unit 203
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$157,900
    • Unit 204
      • 1 Bedroom/1 Bath; 861 sq. ft.
$119,900
    • Unit 205
      • 3 Bedrooms/2 Baths; 1,390 sq. ft.
$184,900
  • Third Floor Units:
    • Unit 301
      • 3 Bedrooms/2 Baths; 1,148 sq. ft.
$199,900
    • Unit 302
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$157,900
    • Unit 303
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$157,900
    • Unit 304
      • 1 Bedroom/1 Bath; 861 sq. ft.
$119,900
    • Unit 305
      • 3 Bedrooms/2 Baths; 1,390 sq. ft.
$184,900
  • Fourth Floor Units:
    • Unit 401
      • 3 Bedrooms/2 Baths; 1,548 sq. ft.
$202,900
    • Unit 402
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$159,900
    • Unit 403
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$159,900
    • Unit 404
      • 1 Bedroom/1 Bath; 861 sq. ft.
$121,900
    • Unit 405
      • 3 Bedrooms/2 Baths; 1,390 sq. ft.
$185,900
  • Fifth Floor Units
    • Unit 501
      • 3 Bedrooms/2 Baths; 1,548 sq. ft.
$205,900
    • Unit 502
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$163,900
    • Unit 503
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$163,900
    • Unit 504
      • 1 Bedroom/1 Bath; 861 sq. ft.
$125,900
    • Unit 505
      • 3 Bedrooms/2 Baths; 1,390 sq. ft.
$191,900
  • Sixth Floor Units:
    • Unit 601
      • 3 Bedrooms/2 Baths; 1,548 sq. ft.
$209,900
    • Unit 602
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$169,900
    • Unit 603
      • 2 Bedrooms/2 Baths; 1,148 sq. ft.
$169,900
    • Unit 604
      • 1 Bedroom/1 Bath; 861 sq. ft.
$129,900
    • Unit 605
      • 3 Bedrooms/2 Baths; 1,390 sq. ft.
$194,900
Vacant Residential Land
Greenwood Road
Chattanooga, TN
  • 55.92 +/- acres of raw, unimproved land
  • Property listed with Paul Foster of Keller Williams Realty
$249,900
The Villas at Saddleback
224 Maggie Mack Lane
Sevierville, TN
  • Consists of a 4 story, 12 unit condominium building
  • Situated on a 1.45 +/- acres site
  • Two and three bedroom units
  • Property listed with Karen Whitlock Realty
  • Individual Unit Information & Pricing:
For pricing on property as a whole, contact Lee Lewis at (865) 908-5759.
  • First Floor Units:
    • Unit 101
      • 3 Bedrooms/2 Baths; 1,861 sq. ft.
$319,900
    • Unit 102
      • 2 Bedrooms/2 Baths; 1,540 sq. ft.
$279,900
    • Unit 103
      • 2 Bedrooms/2 Baths; 1,540 sq. ft.
$279,900
    • Unit 104
      • 3 Bedrooms/2 Baths; 1, 861 sq. ft.
$319,900
  • Second Floor Units:
    • Unit 201
      • 3 Bedrooms/2 Baths; 1,861 sq. ft.
$324,900
    • Unit 202
      • 2 Bedrooms/2 Baths; 1,540 sq. ft.
$284,900
    • Unit 203
      • 2 Bedrooms/2 Baths; 1,540 sq. ft.
$284,900
    • Unit 204
      • 3 Bedrooms/2 Baths; 1,861 sq. ft.
$324,900
  • Third Floor Units:
    • Unit 301
      • 3 Bedrooms/2 Baths; 1,861 sq. ft.
$329,900
    • Unit 302
      • 2 Bedrooms/2 Baths; 1,540 sq. ft.
$289,900
    • Unit 303
      • 2 Bedrooms/2 Baths; 1,540 sq. ft.
$289,900
    • Unit 304
      • 3 Bedrooms/2 Baths; 1,861 sq. ft.
$329,900
Lot 24 Ally Lane
Ridgewood Estates
Sevierville, TN
  • 0.35 +/- acres
  • Property listed with Terri Williams of Remax
$44,900
4.67 acres on Indian Gap Road
Sevierville, TN
  • Unimproved Acreage
$29,900
Lots in the Settlement in Gatlinburg, TN
  • 236 Stone Fence Lane (lot 28) & 240 Stone Fence Lane (lot 29) improved with 6 Bedroom, 6 Bath, 4,215 sq. ft. cabins; amenities include fireplace, theater, wet bar and sprinkler system.
  • Lots 5, 19-26, 32-38, & 40 are vacant lots
  • Property is listed with Mark Wolfe of Smoky Mountain Real Estate
$649,000
Upper Home$649,000
Lower Home$69,000 each
for Lots 5 & Lots 32-27$89,000 each for Lots 19-26, 38 & 40
Lot 36 Serenity Cove
Morning Dove Way
Sevierville, TN
  • 1.18 +/- acres
  • Property is listed with Chris Gonzalez of Pristine Realty
$69,900
11642 Chapman Hwy
Seymour, TN
  • 2 Tracts Totaling 4.93 +/- acres zoned C-2
  • Approximately 350 feet of road frontage on Chapman Hwy
  • Improved with house/office building fronting Chapman Hwy
$565,000
1723 Bluff Mountain Rd
Sevierville, TN
    • 3,200 sq ft Retail/Office building situated on 1.34 +/- acres in Wears Valley
    • Includes two (2) 800 sq ft metal storage units
    • Please call Kim Goode for information
    • Lease Hold Agreement until February 2033
$199,900
Lot 199 Tsali Drive,
Sky Harbor Subdivision
Sevierville, TN
  • 0.48+/- acres wooded lot
  • Zone A-1
  • Please contact Lee Lewis at Tennessee State Bank at 865-908-5759 for more information
$19,900
Lot 16 Eagle Mountain Estates Newport, TN
  • Unimproved, 1.06 +/- acres, rolling wooded
  • City Water
  • Private Septic
  • Property listed with Tammy Bryant of Realty Pros
$17,000
Lot 23 Eagle Mountain Estates
Newport, TN
  • Unimproved, 2.15 +/- acres, rolling wooded
  • City Water
  • Private Septic
  • Property listed with Tammy Bryant of Realty Pros
$20,000
109 Greenwood Way
Newport, TN
  • 3 Bedrooms, 2 Baths
  • 1,800 sq. ft. living area
  • Wrap around deck
  • Fireplace
  • Situated on 1.02 acres +/-
  • Property listed with Tammy Bryant of Realty Pros
$192,900
Lot 14 Zurich Road, Lot 14 Tyrolea Section 4
Gatlinburg, TN
  • Unimproved, 0.32 +/- acres, wooded
  • Zoned R-1
  • All public utilities available
  • Property listed with Ginger Riggs of Thompson-Carr
$35,000
Lots 2-3, 6-9 Backwoods Way
Gatlinburg, TN
  • Lot 2, 1.84 +/- acres
  • Lot 3, 2.08 +/- acres
  • Lot 6, 1.15 +/- acres
  • Lot 7, 1.16 +/- acres
  • Lot 8, 1.56 +/- acres
  • Lot 9, 1.58 +/- acres
$31,500
$35,500
$31,500
$35,500
$35,500
$35,500
1829 Bertie Street
Sevierville, TN
  • 1,850 sq. ft. office building
  • All public utilities are available
  • Currently listed with Thomas King with Brackfield and Associates
Price Reduction$204,900
Lot 5 of the Haskell LaFollette Estate Phase II
Red Bud Lane
Sevierville, TN
  • Unimproved 25.50 +/- acres
  • Currently listed with Karen Whitlock of Karen Whitlock Realty
Price Reduction$184,900
Lot 6, Maggie Mack Lane
Saddle Back Ridge
Sevierville, TN
  • Unimproved 0.11 +/- acres
$40,000
Lochmere
Development Phase VI
16 Unimproved Lots
Morristown, TN
  • Lot 3 – 10, 0.17 +/- acres each
$39,900 each
(Lots 3-10)
  • Cul-De-Sac Lots 23 -24, 29 – 32, 39 – 40:
    • Lot 23, 0.23 +/- acres
    • Lot 24, 0.26 +/- acres
    • Lot 29, 0.17 +/- acres
    • Lot 30, 0.21 +/- acres
    • Lot 31, 0.19 +/- acres
    • Lot 32, 0.19 +/- acres
    • Lot 39, 0.23 +/- acres
    • Lot 40, 0.18 +/- acres
  • Property listed with Chad Long of The Home Team Real Estate
$43,900 each
(Lots 23-24, 29-32, 39-40)
Lot 18, Pinnacle Drive
Gatlinburg, TN
  • Unimproved Lot, 0.27 +/- acres
  • Zoned C-4
  • Currently listed with Karen Whitlock of Karen Whitlock Realty
$70,000
Lot 23, Pinnacle Drive
Gatlinburg, TN
  • Unimproved Lot, 1.02 +/- acres
  • Zoned R-2
  • Property listed with Ginger Riggs of Thompson-Carr Real Estate
$49,900
Lot 9, Trace Two Hundred Section 1
Sevierville, TN
  • Unimproved Lot, 1.73 +/- acres
$40,000
Lot 28 Fox Vista Phase II
Sevierville, TN
  • Unimproved Lot 0.59 +/- acres
  • Lake view
  • Currently listed with Michele Karl of Priority Real Estate
$55,000
1656 Cardinal Drive
Gatlinburg, TN
  • 3 Bedroom/3 Bath
  • 3,412 sq. ft. house
  • 528 sq. ft. garage/storage
  • Situated on Lot 7, Hidden Hills Section D which contains 0.58+/- acres
  • Utilizes city water, gas, & private septic
  • Currently listed with Terri Williams of Remax Realty
$299,900
Lots 41, 56, & 63 Burning Oaks Subdivision
Sevierville, TN
  • Vacant, unimproved lots 41, 56, & 63 of Burning Oaks Phase 2.
  • Acreage is as follows:
    • Lot 41: 0.86 +/- acres
    • Lot 56: 0.73 +/- acres
    • Lot 63: 2.51 +/- acres
  • Currently listed with Tracy Manning of Exit Realty
Lot 41
$27,500Lot 56
$27, 500Lot 63
$25,500
Lot 5 Serenity Cove,
Mountain Dreams Way
Sevierville, TN
  • Vacant, unimproved Lot 5, Serenity Cove North Phase IV
  • 0.75 +/- acres
  • Currently listed with Chris Gonzalez of Pristine Realty
$72,500
Lot 101 Eagle Crest,
McInturff Way
Sevierville, TN
  • Vacant, unimproved Lot 101, Eagle Crest Subdivision Phase 2
  • 0.4285 +/- acres
  • Development is serviced by community water and sewer disposal system
$35,000
20.77 Acres
Louisville, TN
  • 32 Lot Development partially complete
  • Currently listed with Barry Slade of KW Commercial
$1,995,000
1109 Greenbriar Village
  • 3 Bedroom/3 1/2 Bath
  • 2,496 sq. ft., 1.5 story cabin
  • Situated on Lot 2 of Greenbriar Village containing 0.14 +/- acres
  • Currently listed with Kathryn Lovell
$299,900 furnished
Lots 3, 15, 16, 22
Greenbriar Village
  • Vacant, unimproved lots
  • Acreage is as follows:
    • Lot 3 – 0.14 +/- acres
    • Lot 15 – 0.12 +/- acres
    • Lot 16 – 0.14 +/- acres
    • Lot 22 – 0.08 +/- acres
  • Currently listed with Ginger Riggs of Thompson and Carr
$45,000 each
6.22 acreage in Dandridge
Dalsland Way off Fain Cemetary Rd
  • 6.22 +/- acres
  • Offers views and ready access to Douglas Lake
  • Terrain is rolling to sloping with the surrounding property wooded or pasture
  • Currently listed with Chad Long of Home Team Real Estate
Price Reduction$93,500
Lot 10 Bear Paw Development
  • Unimproved lot 10 Bear Paw Development containing 2.66 +/- acres
$32,500
Lot 177 of Majestic Meadows Phase IV
  • Lot contains 1.09 +/- acres
  • Public electric, water & gas
  • Private septic
$40,000
Lot 23 Robertson Farm
Somerset Downs
  • Vacant, unimproved 1.69 +/- acres
  • Public electric
  • Currently listed with Ginger Riggs of Thompson and Carr
$36,000
6825 – 6855 Barger Pond Way
Knoxville, TN
  • 16.25 acre +/- parcel
  • Improvements include mini-warehouse/warehouses as follows:
    • 2 Buildings with 112 mini-warehouse units and site office; 1 Building is climate-controlled mini-storage and 1 Building is standard mini-storage; 2 Buildings totaling 26,500 sq. ft. office/warehouse
$3,750,000
10218 Thorngrove Pike
Knoxville, TN
  • Vacant, unimproved 99.58 +/- acres
  • Currently listed with Barry Slade of KW Commercial
$499,900
9804 Will Merritt Road
Strawberry Plains, TN
  • 1,538 sq. ft. house with 280 sq. ft. garage
  • Situated on 44.198 +/- acres
  • Currently listed with Barry Slade of KW Commercial
$353,520
951 Smith School Road
Strawberry Plains, TN
  • 4 Bed/4.5 Bath, 3,526 sq. ft. house (main level)
  • 1,080 sq. ft. finished basement
  • 576 sq. ft. garage with 1 bath
  • Situated on 206.49 +/- acres
  • Currently listed with Barry Slade of KW Commercial
Call Lee Lewis at (865) 908-5759 for pricing
Lots in Gold Leaf Estates
Sevierville, TN
  • Lot 7 Phase 1, 4.11 +/- acres
  • Currently listed with Jeff Shoenfield of Remax All Pro Realtors
$70,000
  • Lot 17 Phase 1, 1.09 +/- acres
$40,000
  • Lot 18 Phase 1, 1.04 +/- acres
$40,000
  • Lot 19 Phase 1, 0.69 +/- acres
$40,000
  • Lot 20 Phase 2, 3.2 +/- acres
$40,000
  • Lot 21 Phase 2, 2.25 +/- acres
$80,000
  • Lot 22 Phase 2, 1.95 +/- acres
$55,000
  • Lot 24 Phase 2, 1.85 +/- acres
$52,000
  • Lot 25 Phase 2, 1.27 +/- acres
$48,000
  • Lot 26 Phase 2, 2.34 +/- acres
$57,000
  • Lot 28 Phase 2, 2.61 +/- acres
$40,000
  • Lot 29 Phase 2, 1.94 +/- acres
$40,000
  • Lot 30 Phase 2, 1.76 +/- acres
$40,000
  • Lot 31 Phase 2, 1.9 +/- acres
$40,000
  • Lot 32 Phase 2, 2.96 +/- acres
$57,000
  • Lot 33 Phase 3, 0.93 +/- acres
$57,000
  • Lot 35 Phase 3, 2.55 +/- acres
$50,000
  • Lot 36 Phase 3, 2.32 +/- acres
$57,000
  • Lot 37 Phase 3, 3.38 +/- acres
$60,000
  • Lot 38 Phase 3, 2.44 +/- acres
$60,000
  • Lot 39 Phase 3, 2.26 +/- acres
$50,000
  • Lot 40 Phase 3, 3.46 +/- acres
$57,000
  • Lot 41 Phase 3, 2.45 +/- acres
$60,000
  • Lot 42 Phase 3, 2.91 +/- acres
$60,000
  • Lot 43 Phase 3, 3.72 +/- acres
$63,000
  • Lot 44 Phase 3, 5.25 +/- acres
$63,000
  • Lot 45 Phase 3, 3.71 +/- acres
$57,000
  • Lot 46 Phase 3, 2.15 +/- acres
$100,000
  • Lot 47 Phase 3, 2.23 +/- acres
$120,000
  • Lot 48 Phase 3, 3.08 +/- acres
$110,000
  • Lot 49 Phase 3, 2.56 +/- acres
$105,000
  • Lot 50 Phase 3, 1.72 +/- acres
$70,000
  • Lot 51 Phase 3, 0.95 +/- acres
$60,000
  • Lot 53 Phase 3, 1.19 +/- acres
$95,000
  • Lot 54 Phase 3, 0.08 +/- acres
$70,000
Havana Dreams Cafe
449 Parkway
Gatlinburg, TN
  • “L” shaped with 0.14 acre +/- tract with 109.77′ of Parkway frontage and 94.90′ frontage on the west prong of the Little Pigeon River.
  • Previously a Ruby Tuesdays for a restaurant facility; 5,652 sq. ft. on 1st floor and 4,891 sq. ft. on 2nd floor for a total of 10,282 sq. ft.
  • Currently listed with Terri Williams of Remax Realty

$699,000
(fee simple)
OR

$75,000/yr triple net

Vacant lots, Willow Creek Subdivision
  • 12 vacant lots 5 – 7, 9 & 10, 13 – 19 in Willow Creek Subdivision:
  • Currently listed with Jeff Shoenfield of Remax All Pro Realtors
  • Lot 5 – 5.43 +/- acres

$68,000

  • Lot 6 – 1.53 +/- acres

$20,900

  • Lot 7 – 1.48 +/- acres

$20,300

  • Lot 9 – 1.58 +/- acres

$21,500

  • Lot 10 – 1.75 +/- acres

$24,000

  • Lot 13 – 1.41 +/- acres

$19,500

  • Lot 14 – 5.01 +/- acres

$65,000

  • Lot 15 – 5.02 +/- acres

$65,000

  • Lot 16 – 5.02 +/- acres

$65,000

  • Lot 17 – 5.17 +/- acres

$67,000

  • Lot 18 – 5.32 +/- acres

$67,000

  • Lot 19 – 5.60 +/- acres

$70,000

Lots 11 & 12, Clayton Estates
Sevierville, TN
  • Vacant, unimproved lots containing 0.86 +/- acres and 0.69 +/- acres

 $23,500
(for the pair)

Lot 33, Serenity Cove
Sevierville, TN
  • Vacant, unimproved
  • Serenity Cove North Phase IV containing 1.42 +/- acres
$55,000
3272 Lost Branch Road
Sevierville, TN
  • 4 bed/2 bath, 1,800 sq. ft., 2 story cabin
  • Two (2) – 1 bed/1 bath, 900 sq. ft. cabins
  • 7.35 +/- acres
  • Currently listed with Karen Whitlock of Karen Whitlock Realty
$265,000
2341 Adair Avenue
Knoxville, TN
  • Main level – 960 sq. ft., 1 bed/2 baths
  • Second level – 415 sq. ft., 2 beds
  • Situated on 0.298 +/- acres
  • Currently listed with David Bradley of Remax
$59,900
2700 Copeland Street
Knoxville, TN
  • 3 bed/1 bath, 1,191 sq. ft.
  • Situated on 0.19 +/- acres
  • Currently listed with David Bradley of Remax
$51,500
920 Wears Valley Road
Sevierville, TN
  • 3 bedrooms/2 full baths & 2 half baths
  • 2,503 sq. ft. house
  • Situated on lot 27 Twin Bridges No. 2 which contains 0.47 +/- acres
  • Utilizes city water & sewer
  • Currently listed with Michele Karl of Priority Real Estate
$119,900
Lot 3 Youssefi Property
Walland, TN
  • Vacant lot that is 0.84 +/- acres with access to public electric and water
  • Lot is zoned R-1 Residential
$39,900
Lots 50 & 89 of the 8th District & 5th Section of Haralson County and Tallapoosa, GA
  • 103.03 +/- acres
  • Vacant land
  • Currently listed with G7RE, LLC in Atlanta
$890,000
1915 Alamo Trail
Dandridge, TN
  • 3 bed/3.5 bath
  • 1.5 story, 2,568 sq. ft. house with 1 BA 696 sq. ft. basement
  • Situated on lot 14R Rugged Range containing 2 +/- acres
$549,000
Lot 7 Sawyers Green
  • Lot 7 of Sawyers Green Phase I
  • Vacant lot with 1.56 +/- acres
$69,000
Sleep Inn
Sevierville, TN
  • 1.69 +/- acres improved with Sleep Inn which has 70 rooms totaling 32,716 sq. ft.
  • Currently listed with Barry Slade of KW Commercial
$2,450,000
Quality Inn
7471 Crosswood Blvd
Knoxville, TN
  • 25,615 sq. ft., 54-room motel situated on lot 8R revision of lot 8 East View containing 1.76 +/- acres
  • Currently listed with Barry Slade of KW Commercial
$1,750,000
3.12 acres in Gatlinburg
Wiley Oakley Drive (Elkington Place)
  • Vacant, unimproved land
$225,000
4.06 acres in Gatlinburg
504 Cherokee Orchard Road
  • Vacant, unimproved land
$1,350,000
28.38 acres in Jones Cove
  • Unimproved tracts 18 & 19 of survey for Fred & Mary Webb containing total of 28.38 +/- acres
$62,500
213 N. Riverview Circle
Sevierville, TN
  • 3 Bed/2 Bath, 1,386 sq. ft. home with 1,386 sq. ft. finished basement situated on lot 86 of Marshall Woods II containing 0.43 +/- acres
$169,900
Lot 85 of Marshall Woods II
  • Vacant, unimproved lot 85 Marshall Woods II containing 0.60 +/- acres
  • Lot is adjacent to 213 N. Riverview Circle
$30,000
Lot 34, The Tradition
  • Unimproved, lot 34 of The Tradition
  • Vacant lot containing 1.35 +/- acres
$57,500
Lot 37, Serenity Cove
  • Unimproved, lot 37 Serenity Cove
  • Vacant lot containing 1.01 +/- acres
$54,900
2225 Maples Drive
Sevierville, TN
  • 3 Bedroom/2.5 Bath
  • • 1,800 sq. ft. home situated on 0.38 +/- acres
$189, 900
4229 E. Parkway
Gatlinburg, TN
  • Lot 181 Outdoor Resorts at Gatlinburg
  • Containing 0.5 +/- acres improved with a 1999 Woodland Park 40′ Trailer.
$32,500
524 Doyle Court
Sevierville, TN
  • 5 Beds/4.5 Baths, 2-story house
  • 4,748 sq. ft. house with 2,702 sq. ft. finished basement
  • Situated on lot 22 of Winswept containing 0.70 +/- acres
$685,000
Lots 3, 7, 14, 17 and 23 Blue Springs Way
Sevierville, TN
  • Lot 3 – 0.53 +/- acres
  • Lot 7 – 0.69 +/- acres
  • Lot 14 – 0.62 +/- acres
  • Lot 17 – 0.86 +/- acres
  • Lot 23 – 0.96 +/- acres
Each lot to be sold separately
Lot 3 – $17,900
Lot 7 – $17,900
Lot 14 – $24,900
Lot 17 – $17,900
Lot 23 – $21,500
6.82 Acres Autumn Ridge Estates
Sevierville, TN
  • 6.82 +/- acres situated on Autumn Ridge Way
Coming Soon
Lot 2 Smoky Mountain Retreat
Sevierville, TN
  • Lot 2 Smoky Mountain Retreat containing 0.70 +/- acres
Coming Soon
Lots 19, 21, 24 and 25 Autumn Ridge Estates
Sevierville, TN
  • Lots 19, 21, 24 and 25 situated in phase 3 in Autumn Ridge Estates
Each lot to be sold separatelyComing Soon
901 Johns Branch Road
Gatlinburg, TN
  • 0.83 +/- acres improved with older mobile home
$22,500
911 Johns Branch Road
Gatlinburg, TN
  • 0.38 +/- acres improved with 13.5′ x 56′ manufactured home
$13,500
209 Gray Slate Circle
Sevierville, TN
  • 3 Bed/2 bath house on lot 286 of Rock Gardens
$84,900
Lot 23 Mountain Grove
Seymour, TN
  • Lot containing 0.91 +/- acres
$24,900
Tennessee State Bank • 2210 Parkway, P.O. Box 1260 • Pigeon Forge, TN 37868
All Locations: (865) 453-0873 • Telephone Banking: (865) 908-BANK (2265)
Website by: ProfitStars / ©2010 Tennessee State Bank. All rights reserved.

NOTICE: Tennessee State Bank is not responsible for and has no control over the subject matter, content, information, or graphics of the web sites that have links here. Tennessee State Bank does not control the content of or approve any website that is linked through this browser. Search results are not filtered or screened by the bank or any of its agents, representatives or service providers. Users who search the Internet using this browser do so at their own risk and are responsible for the results. Tennessee State Bank is not responsible for the content. Please contact us with any concerns or comments.

Jasper Banking Company Jasper Georgia

February 9, 2012

Check out the new site

capital2risk.com

This is Paul Neely, he wiped out this bank

This is Paul Neely he wiped out 82% of the equity in only 3 years

Paul is about to bankrupt a 66 year old bank

Paul is sitting on $47,000,000 in bad loans

Is this dope watching your money?

This is Marvin Chance, the CFO, he was instrumental in destroying this bank.

Would you take a chance with risking your money, with Marvin?

Check out his fat head, do you think this  bankster is going hungry? FAT CHANCE

Here is the board of directors, these clowns approved all this ignorance

Jasper Banking Company Jasper Georgia was founded in 1945. For some reason, this abortion is not on the problem bank list.  One would think with a Texas ratio of 303%, they should be well qualified.

Fortunately, they were able to qualify for the under capitalized bank list. Not hard to do when you have no equity.  They would definitely be approved for the insolvent  bank list.

The assets are $255MM with equity of $11MM.

The problem loan portfolio is $47MM, with $30MM on non accrual.

Do you think this thing is bankrupt?

They lost another $1.4MM in Q2.

The CEO Paul Neely, was instrumental in wiping out 82% of the shareholders equity in the  last 3 years, let alone bankrupting a 66 year old financial institution.

You might want to take your money out of this impending implosion.

Capital2risk Most Wanted 2011

December 30, 2011

Peter Converse of Virginia Commerce Bank Arlington Virginia

Peter took $71,000,000 in bailout money

Peter makes $461,000 a year, which includes country club fees

Mitchell Feiger of MB Financial Chicago Illinois took $196,000,000 in tax payer funded bailout money

Mitchell makes $1,300,000 which includes a country club membership.

Mitchell plays  golf on your tax dollars

Check out Mitchell, he is trying to figure out how to grab more money from the tax payers A$$s

Check out Pressley Ridgill, he took $52,000,000 in tax payer money

Pressley makes $439,000 which includes a country club membership, paid for by the tax payer


This fat cat is Allen White, he ran Plains Capital Bank Lubbock Texas into the ground

 Allen took $82,000,000 in tax payer money

Allen got paid $3,300,000 and his country club membership from the tax payer, as he destroyed this bank

Allen has 3 chins, does it look like this bankster has ever missed a meal?

 

This is Michael Rechin, he bankrupted First Merchants Bank Muncie Indiana

Michael took $107,000,000 of you money, which he can’t pay back

Michael got paid $625,000 to destroy a 118 year old bank

Falcon International Bank Laredo Texas

December 29, 2011

Take a look at the new site

capital2risk.com

Gilbert Narvaez, the President and Adolfo Gutierrez, the CEO ran this place into the ground

They were able to get this place on the problem bank list, it is one of the worst banks in Texas, with a Texas ratio of 71%.

The bank was citied for “weakness in management” shocking.

Take a look at the website, these boys have a lot of vacant land for sale, these guys are savvy banks!

Falcon International Bank Laredo Texas was founded in 1986.  The company is on the problem bank list.  They like to engage in unsafe and unsound banking practices.  The bank was cited for having weaknesses in asset quality, liquidity, deterioration in capital, earnings and deficiencies in management.  The Texas ratio is 71%, making it one of the worst banks in the state.

The bank has assets of $875MM, with $81MM in equity.

They have $71MM in problem loans.

Hold on, they have $81MM in equity, with $71MM in bad loans? That is not good amigos.

Take a look at the website, this disaster has serious levels of real estate for sale.  Is this place a bank or Caldwell Banker?

Regal Bank Owings Mills Maryland

December 29, 2011

Take a look at the new site

capital2risk.com

This is G. Bradley Sanner, President of Regal Bank

G. Bradley recently got his bank on the problem bank list, for unsafe and unsound lending as well as violations of law

That doesn’t sound to Regal, G. Bradley

Regal means king in Latin, a fitting name, G. Bradley is “the King” at destroying a bank.

The Texas ratio is 91%, making it one of the worst banks in the state.

Do you have money with G. Bradley? You might want to find a more Regal Bank, or at least a less bankrupt bank.

Why is G. Bradley smiling, because he gets paid good money to run a 64 year bank into the ground.

Check out all those books behind his head, I guess that is supposed to make him look smart. G. Bradley forgot to read Banking 101

Regal Bank Owings Mills, Maryland was founded in 1947.  The company recently became a member of the problem bank list.  They were citied for unsafe and unsound lending practices as well as violations of law.  Maybe that is why the Texas ratio is 91%, giving it the distinction of being one of the worst banks in the state.

Assets are $182MM with equity of $13MM.

This Regal place has $12MM in problem loans.

Hold on G. Bradley, you have $12MM in bad loans and only $13MM in equity.  You might want to wipe that grin off your face, you have serious problems.

G. Bradley lost $2.5MM in Q3 FY011 alone, wiping out 15% of the remaining equity in only 90 days.

Do you have money in this Regal institution?

Take a look at the press release, they haven’t posted their financial statements since FY06? Do you think G. Bradley is trying to hide something? Maybe that is why he is smiling!

Community First Bank and Trust Columbia Tennesse

December 22, 2011

Take a look at the new site

capital2risk.com

Do you have money in this disaster, it is one of the worst banks in the state

This is Marc Lively he took $17,000,000 in tax payer money which he can’t pay back

Marc makes $298,000 a year, not bad

This A$$ made $151,000,000 in bad loans

Marc lost $10,000,000 in the last 2 years, good thing he has time to play golf on the tax payers money!

That clown next to him is Michael Saporito, he makes $167,000 a year to play golf and make bad loans

These dopes lost another $7,000,000 in Q3 2011, Marc wiped out another 10% of the remaining equity in only 90 days

Might as well play golf, you might lose less money

These rednecks made $151,000,000 in junk loans

Here is the CEO Marc Lively, he took $17,000,000 of tax payer money in TAARP funds, which he won’t pay back

He is the guy on the left, the stomach and golfing is paid with $17,000,000 in your tax payer money.  Do you think these fat slobs hit the 19th hole with your $.

This clown made $151,000,000 in bad loans

Maybe this joker should get off the golf course and get his sorry ass off the problem bank list

Hopefully, Mark is making more bad loans with these jokers, Mark should be in jail

He made $298k last year

Mark made $151MM in problem loans with only only $39MM in equity

It didn’t take him long to bankrupt this place

They lost $10,000,000 over the last 2 years

The balance sheet is not looking very lively

Good thing has time to play golf, at least he can’t make bad loans there

Community First Bank and Trust Columbia, Tennesse was founded in 1999.  They took $17MM in tax payer funded bailout money, which it won’t pay back.  I couldn’t find it on the problem bank list, but it ought to be.

The company has $678MM in assets with $56MM in supposed equity.

The equity position is actually $39MM, as the $17MM in bailout funds is not preferred stock but debt, which they won’t pay back.

The problem loan scenario is staggering.  They have $41MM in loans past due 30-90 days, get this, there are $110MM in loans on non accrual!

So, they have $151MM in bad loans and $39MM in equity.

This place is flat out bankrupt

Why hasn’t the government shut them down.  What, they think if they wait they will get the $17MM back?

Why aren’t they at least on the problem bank list, this place has problems.

This place is bankrupt.

How are they going to pay back the tax payer $17MM

Net income was ($4MM) in FY10 and ($6MM) in FY09.

So how are they going to pay the $17MM back?

At least the executives are suffering.  They get paid well for wiping this place out.

Mark Lively             made $298K

Diane Scroggins     made$125K

Michael Saporito   made $167K

Carl Cambell            made $177K

Mark Lively gets paid well to run this thing into the ground

That is good pay for causing this disaster.

East Carolina Bank Engelhard North Carolina

December 21, 2011

This is Dwight Utz he took $17MM in bailout money

The bank made $200k in FY10 and ($400M) in FY09, how the hell long will it take them to pay back $17MM

Dwight makes $311k, good pay for wiping out a 92 year old bank

This is Thomas Crowder the CFO he makes $231,000 a year

Thomas owes the tax payer F$$ing $17,000,000

Thomas you are wiping out a 100 year old bank

East Carolina Bank Engelhard, North Carolina was founded in 1919.  The company took $17MM in tax payer funded bailout money, which it has decided not to repay.  It is not on the government problem bank list.  I guess not paying back the tax payer back, is not a problem.

The company has $919MM in assets with $80MM in equity.

The actual equity is $63MM as the $17MM in bailout money is debt not preferred stock, despite the fact that they won’t repay it.

There are $23MM in problem loans.  The non accrual alone could eradicate a large part of the equity position.

Net income was ($200K) in FY10 and $499K in FY09.

These crooks owe you $17,000,000

Based on this financial performance, how are they possibly going to pay back the tax payer’s $17MM?

Fortunately, the executives haven’t suffered or made any effort to pay back the tax payer.

Dwight Utz               made $311K

Thomas Crowder  made $231K

James Burson         made $204K

At least these boys are well taken care of.

They have made a good effort at wiping out a 92 year old institution.

Is this your bank?

Dwight Utz?

Dwight got paid all right, for running this place into the ground.

Dwight, when are you going to pay back the tax payer the $17MM you stole

Do you have money in this bank?

Next time you go into the branch, ask them when they are going to stop paying Dwight Utz for his incompetent management, and pay back your $17MM in tax payer money.

Email page  PDF view  Print view
ECB Bancorp, Inc. Announces Termination of Securities Purchase Agreement
Company Release – 02/08/2012 18:24
ENGELHARD, N.C.–(BUSINESS WIRE)– ECB Bancorp, Inc. (the “Company”), the parent company of East Carolina Bank (the “Bank”), today announced that the Company and FIE I LLC, an affiliate of PIMCO BRAVO Fund, L.P. (“BRAVO Fund”), Patriot Financial Partners, L.P. (“Patriot”), an affiliate of Endicott Management Company (“Endicott”) and three other institutional investors (collectively with BRAVO Fund, Patriot and Endicott, the “Investors”) mutually agreed to terminate their previously reported Securities Purchase Agreement, as amended and restated (the “Agreement”). As previously disclosed, the Company and each of the Investors had entered into the Agreement under which the Company would issue $79.7 million in Company common stock in a private placement offering at a price of $16.00 per share. Pursuant to the terms of the Agreement, the Company had also agreed to issue to the Investors warrants to purchase shares of either voting common stock or a new class of the Company’s mandatorily convertible non-voting common stock at a purchase price of $8.00 per share and in an amount equal to 25% of the number of shares of common stock each Investor would purchase in the Offering. Not all the required regulatory approvals necessary to complete the transaction had been received by all of the Investors as of the termination date.Despite the termination, the Company and the Investors expect to work on an alternate private placement offering. No assurances can be made that a new securities purchase agreement can be reached between the parties or that the terms and conditions of any such new agreement, including the purchase price, would not differ materially from the terms of the prior Agreement.ECB Bancorp, Inc.
A. Dwight Utz, President and CEO
252-925-5509 Office
800-849-2265
or
Thomas M. Crowder, Executive Vice President and CFO
252-925-5520
252-925-8491 facsimileSource: ECB Bancorp, Inc.
Click here for Printer-Friendly Version

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?

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?

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.

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.

Bank of Naples Naples Florida

July 1, 2011

 

 

Bank of Naples Naples Florida was founded in 2000.  The company took $4MM in tax payer bailout funds, which he has refuses to repay.  Then again, they haven’t even made a interest payment since 10/10.  The Texas ratio is 80%.

The bank is also on the under capitalized list.  They might as be on the insolvent bank list also.

Assets are $183MM with supposed equity of $6MM.

The actual equity is $3MM, as the $4MM in tax payer money is debt not prefered stock.

The problem loan portfolio is $15MM.

With $15MM in problem loans and $4MM in equity, this bank is bankrupt.

Why is this place closed down?

This disaster is beyond insolvent.

Net income was ($25MM) in FY10, ($3MM) in FY09 and ($3MM) in 08.

They lost $2.8MM in Q2 2011.

Based on this stellar performance, how are they going to pay back the tax payer, it’s never going to happen.

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

Do you have money in this bankrupt place?

Exchange Bank Santa Rosa California

June 25, 2011

http://www.capital2risk.com/?s=exchange+bank

Exchange Bank, Santa Rosa California was founded in 1890.  The company took $43MM in tax payer funded bailout ,which it has decided to not pay back.  For some reason, they are not on the problem bank list.  Looking at the balance sheet, this place has problems.  The stock is delisted for a reason.

Assets are $1.5B, with equity of $160MM.

The actual equity is $117MM, as the $43MM in tax payer fund is debt, which they won’t pay back, not preferred stock.

The problem loan portfolio is impressive.  There are $73MM in problem loans, with $68MM on non accrual and $15MM in OREO.  They have $28MM in construction loans on non accrual, ouch.

With $73MM in problem loans and $117MM in equity, this place has serious balance sheet pressure.

This place is close to being insolvent.

With a balance sheet as challenged as this, they at least deserve a place on the problem bank list.

Net income was $10MM in FY10 ($3MM) in FY09 and ($18MM) in FY08.

At this rate,how are they going to pay back $43MM to the tax payer.

The government is using your money to prop up this bank.

Hey Bill Shrader,  where is the tax payer’s $43MM you took?

Do have money here? You might want to exchange it with another bank.

The Equitable Bank Wauwatosa Wisconsin

June 23, 2011

 

 

The Equitable Bank kicks it down with incompetent commercial real estate lending

Koch industries is equitable

These clowns will finance your vacant land

The Equitable Bank Wauwatosa Wisconsin was founded in 1927.  The company is on the problem bank list, for incompetent commercial real estate lending.  They were cited for unsafe and unsound banking practices relating to weakness in management, capital, asset quality and earnings.  The Texas ratio is 78%.

Assets are $434MM with equity of $34MM

The problem loan portfolio is impressive at $27MM, with non accrual of $18MM and $15MM in OREO.

With $27MM in problem loans and $34MM in equity, this place is technically insolvent.

This team is also adept at losing money.  Net income was ($5MM) in FY10, ($5MM) in FY09 and ($4MM) in FY08, at least these guys are consistent. Oh yea, they another $2.9MM in Q1 2011.

They forgot to post the financial statement on the website, or tell you who the management team is.

The one thing they do have on the website, is an impressive list of properties for sale.  This place likes to finance vacant land.

The Equitable Bank? The one thing they don’t have is equity.

Do you keep money in this bank?  Don’t stick around too long, there is not much equity left.

First Sound Bank Seattle Washington

June 23, 2011

 

This is Don Hirtel, the CEO who took $7.4MM of your which he won’t pay back

Don hasn’t even paid interest on this money since 11/09

Thanks to Don the stock is de listed

Don made $17MM in bad loans and is on the problem bank list for unsafe and unsound lending

Don runs one of the worst banks in the state

Don wiped out 600% of the equity in only 3 years

First Sound Bank Seattle Washington was founded in 2004, great timing.  This place has it all.  They took $7.4MM in tax payer funded bailout money, which they have decided to not pay back.  They haven’t even paid interest since 11/09.  They are on the problem bank list for unsafe and unsound banking practices regarding capital, asset quality and earnings.  The stock is delisted.  The Texas ratio is 212%.

They are also on the list of under capitalized banks.  If there were a list of insolvent banks, they would head that up also.

Assets are $145MM with equity of $6MM.

The actual equity is ($1.4MM), as the $7.4MM in tax payer funding is debt, not what the want to call preferred stock.

The problem loan portfolio in relation to the equity base is staggering.  Then again, what equity base, it’s negative.  There are $17MM in problem loans. Get this, they have $7.5MM in non accrual construction loans. That is about what they owe the tax payer.

This bank is beyond bankrupt.

Why aren’t they closed down?

Net income was ($6MM) in FY10, ($16MM) in FY09 and ($2MM) in FY08.  Holy cow, they lost another $2MM in Q1.

Based on this financial performance, how are they going to pay back the $7.4MM to the tax payer. It’s not going to happen.

The bank raised $6MM in capital in April, except the lost another $2MM in Q1, savvy!  Who in their right mind would invest in this disaster?

Don Hirtzel has done a remarkable job running this place into the ground.  He wiped out 600% of equity,  in only 3 years.

Don where is the $7.4MM, you owe the tax payer?

Do you have money here.  This bank is definitely not sound.

It won’t be long before this thing is floating in the Puget Sound.

BancPlus Ridgeland Mississippi

June 23, 2011

This is Bill Ray the CEO, he took $80MM of your F$#cking tax payer money which he can’t pay back

This fat cat banker racked up $78MM in bad loans

Bill Ray wiped out a 100 year old bank, that survived the Great Depression

Does this clown look hungary? he has 3 chins.

BancPlus Ridgeland Mississippi was founded in 1909. They stole $80MM in tax payer funded bailout money, which they won’t pay back.  For some reason, they are not on the problem bank list.  This thing has problems.

Assets are $2.2B with $204MM in equity.

The actual equity is  $124MM, as the $80MM they stole is debt not equity.

The problem loan portfolio is $78MM.

This place is bankrupt.

How are they going to pay back $80MM, to the tax payer?

Columbia Bank of Florida Lake City Florida

June 23, 2011

Take a look a the new site

capital2risk.com

Check out Bruce Nalyor on the left he is the CEO

He is sitting on a Texas ratio of 100%

Bruce likes to finance vacant  land

This clown has 70 properties for sale

These idiots lost $8,641,000 in Q4 2011

These dopes have $35,000,000 in junk loans with $19,000,000 in equity they are bankrupt!

Bruce wiped out a 99 year old bank

Naylor? I don’t even know her

Columbia Bank of Florida Lake City Florida was founded in 1912.  For some reason, they are not on the problem bank list. I guess aTexas ratio of 100% won’t cut it in the sunshine state.  Believe me, this place has problems.

Assets are $224MM with equity of $21MM.

They have $28MM in problem loans, with $23MM on non accrual.

So, if you are insolvent, you can’t even get on the problem bank list.

Check out the website, they have probably 70 properties for sale.

Wow, this group likes to finance vacant land.

North Community Bank Chicago Illinois

June 21, 2011

North Community Bank, Chicago Illinois was founded in 1972.

Assets are $1B with equity of $99MM.

The problem loan portfolio is $118M, with $90MM on non accrual.

The $90MM could easily erode the remaining capital base.

They lost $6.7MM in Q 1.

This place has serious problems.

Montgomery Bank & Trust Ailey Georgia

June 18, 2011

Montgomery Bank & Trust Ailey Georgia was founded in 1926.  This place is not on the problem bank list.  Man, things are tough these days.  When you have a Texas ratio of 330%, are bankrupt and can’t make it on the problem bank list.  It is getting competitive to be bankrupt in the peach tree state.

Assets are $227MM with equity of $13MM

Hold on, the have $36MM in bad loans, with $33MM on non accrual.

So, $36MM in problem loans with $13MM in equity,that  can’t even get you a place on the problem bank list in Georgia these days.

They have $13MM in non accrual construction loans, which will wipe out all the equity and can’t even get on the problem bank list.

They lost $15MM in the last 2 years.  Check this out, they lost $3MM in Q1 2011.

This place is bankrupt

Why aren’t they shut down?

Then again, why aren’t they on they on the problem bank list.

The First Commercial Bank Chicago Illinois

June 17, 2011

The First Commercial Bank Chicago Illinois was founded in 1946.  They are member of the problem bank list.  They were cited for having weakness in management, asset quality, capital and earnings.  It sounds as if they made some unwise commercial real estate loans.  The Texas ratio is only 143%.  If they were Florida or Georgia, that Texas ratio wouldn’t have even qualified them for the list.

Assets are $268MM with equity of $25MM.

The problem loan portfolio is impressive.  They have $46MM in problem loans with $34MM on non accrual.

With $46MM in problem loans and $25MM in equity, it won’t take them long to wipe out the rest of the equity.

This place is bankrupt.

It won’t be long until this thing is floating in Lake Michigan.

They lost $15MM in Q1 2011.

If this place is the First Commercial Bank, I would hate to see the last.

Do you have money here, you might want to jump in the lake.

First Federal Bank Harrison Arkansas

June 17, 2011

Here is the new site

capital2risk.com

Here is Larry Brandt on the left this criminal took $16,000,000 in tax payer money which he won’t pay back

Larry gets paid $430,00 to take your money

Larry won’t even pay interest on the money he stole

Larry also wiped out the stockholders

Larry lost $1,800,000 in Q4 2011 alone how is this clown going to pay back the tax payer $16,000,000

 Larry won’t even pay interest on the money he stole


Larry is sitting on $75,000,000 in bad loans, with $70,000,000 in equity

Larry you are F$$king bankrupt

First Federal Bank Harrison Arkansas was founded in 1934.  This is one zombie bank.  They took $16MM in tax payer funded bailout money, they have paid back $6MM.  However, they have not paid interest on these funds since 10/09, they have only made 3 interest payments on these funds.  That is a pretty good deal, when a bank doesn’t have to pay interest on money they took from the tax payer.  The stock is delisted.

They are also on the problem bank list. It looks like they made some bad real estate loans, imagine that.

Here is Tommy Richardson he makes $264,000 to steal tax payer money

Tommy got this place on the problem bank list

Tommy also wiped out the stockholders

Assets are $573MM with equity of $35MM.

The actual equity is only $19MM, as the $10MM in so called preferred stock is actually debt not equity.

The problem loan portfolio incredible.  They have $94MM in bad loans.

If the bank has $94MM in bad loans with $19MM in equity, I would say they are bankrupt.

Why isn’t this place shut down?

At least the executives get paid well, even though the tax payer doesn’t even get paid interest on their loan.

Larry Brandt                 made $430k

Tommy Richardson  made $264k

Sherri Billings              made $245k

So, these 3 pay themselves $1MM, but don’t pay interest on the money they stole from the tax payer.

Larry Brandt makes $430k to bankrupt the company, wipe out the stockholders and steal tax payer money.   How about using some of the $430k to pay interest to the tax payer.

He also destroyed 94% of the equity in the company in 3 years.

Larry, you destroyed a 77 year old financial institution, good effort.

Larry, where is the $16MM you took from the tax payer, in your pocket.

When the first thing you see on the website is real estate they have for sale that is a problem.

They have 100 properties for sale, are you looking for vacant loan or abandoned properties.

Do you have money here? They are using your tax money to pay themselves large salaries.

The Suffolk County National Bank of Riverhead Riverhead New York

June 17, 2011

Check out the new site

capital2risk.com

The efficiency ratio is 74%, this place loses money just opening up the doors

This is one of the worst banks in New York

This bank is sitting on $80,000,000 in junk loans

Here they are burying you money in the ground, why are they on the problem bank list?

This is J Gordon Huszagh, he makes $533,000

J Gordon got his bank on the problem bank list

J Gordon got the stock de listed

J Gordon wiped out a 121 year old bank

This guy is sitting on $94,000,000 in bad loans

This bank survived the Great Depression, will it survive J. Gordon Huszagh?

That clown on the left is Robert Dick, Chief lending officer

This Dick made $92,000,000 in SH$$t loans

Better yet, this Dick got paid $373,000 a year to bankrupt this place

Check out Stacy Moran the CFO, she bankrupted a 120 year old bank

Stacy wiped out the shareholders, the stock is de listed

Stacy gets paid $202,000 a year to bankrupt this place


The Suffolk County National Bank  of Riverhead, Riverhead New York was founded in 1890.  The bank is a member of the problem bank club.  The stock is delisted.

They have assets of $1.6B with equity of $133MM.

The problem loan portfolio in relation to the equity position is immense.  They have $93MM in problem loans with $73MM on non accrual.

That should be enough to wipe the rest of equity in the near term.

In May, when the bank first announced it would not meet its filing deadline for the first quarter of 2011, Suffolk Bancorp issued a press release stating that management, in the course of preparing its quarterly report, “identified possible deficiencies and/or weaknesses in the company’s internal controls with respect to credit administration and credit risk management.” The bank hired independent consultants to to review its loan files, it said in a press release at the time. It warned it might have to restate its financial statements for one or more prior periods.

This place is going to have serious balance sheet pressure as the equity base gets squeezed.

They lost $23MM in Q2 2011 but had a tax loss carry forward of $10.7MM, resulting in a loss of $12.7MM.

Don’t worry the executives are doing fine.

J Gordon Huszagh       made $533k

Stacy Moran                  made $202k

Robert Dick                   made $372k

Frank Filipo                  made $265k

Wow, that is good pay for destroying a 121 financial institution.

J Gordan, you make good money for making this many bad loans and wiping out the stockholders.

J. Gordon is one savvy banker.

This bank survived the great depression, but they couldn’t survive the ignorance of J. Gordan.

Do you have money in this disaster? It is tough to get on the problem bank list this days, this team is good.

They should hire Anthony Weiner as CEO.

That would be a stellar management team Anthony Weiner and Robert Dick.

Replace Stacy Moran with Anthony Weiner, he can send her pictures of his shaved chest, as her golden parachute.

Photos

Riverhead-based Suffolk County National Bank filed an appeal on Tuesday with Nasdaq to avoid being delisted from the public exchange, according to a story in the Riverhead News-Review.

The bank received notice from Nasdaq last week that they would be delisted because the 30-branch bank has not yet filed first- or second-quarter reports documenting their profits and losses this year, according to a press release.

In a statement in May, the company faulted its internal controls, particularly its credit administration and risk management divisions, for the delay, saying it has retained independent consultants to review its loan files and potentially correct errors.

The bank filed an appeal on Tuesday to have a hearing before a delisting action takes place, which now pushes the impending delisting back to Nov. 30, according to the story.

Art Loomis, an Albany bank analyst and consultant who works with a number of East End and Long Island banks, told the News-Review that the delisting threat is NASDAQ, saying the bank has taken long enough to sort through its problems.

“They’re saying, ‘You told us you’re working on it, but we can’t hold the door open forever,’ ” Loomis said in an interview on Tuesday.

To learn more about the impending delisting and how that has affected bank stock, read th

Cornerstone National Bank Easley South Carolina

June 16, 2011

Cornerstone National Easley South Carolina was founded in 1999. The company is on the problem bank list.  A bank in South Carolina on the problem bank, shocking! The Texas ratio is 100%. The stock is delisted.

Their motto is “founded on value”, then why have wiped out their stockholders equity?

They have assets of $174MM with equity of $18MM

The problem loan portfolio is $12MM.  OREO is $10MM

This place is bankrupt

At least the executives make good money for wiping out the stockholders.

J Roger Anthony              made $222k

Jennifer Champaigne     make $150k

Susan Holly                       made $150k

That is good pay for wiping out the stock holders.

J Roger Anthony has done a great job of destroying this place. I guess if you are a banker or lawyer in the south you get to stick a letter in front of your name?

Do you think Jennifer is drinking champagne at $150K a year as she bankrupts this place.

Their motto is “founded on value”. I tell what does have not value, your stock and your equity.

Is this your bank? They are not exactly the cornerstone of  financial stability.

Putnam State Bank Palatka Florida

June 16, 2011

Putnam State Bank Palatka Florida was founded in 1988. This thing is history.  They are on the problem bank list for weakness in management, asset quality, capital and earnings, that should cover it.  Take a look at the Texas ratio it’s 293%, ouch.

They are also on the list of under capitalized banks, they might as well be on the insolvent bank list also.

Assets are 178% with $6MM in equity.

Check out the problem loan portfolio, they have $16MM in problem loans with $17MM in OREO.

With $33MM in problem loans and $6MM in equity, this thing is on it’s deathbed.

Why hasn’t this been shut down?

They have lost $14MM over the last 2 years.

This place is run by L Wayne McClain and D Clay Harris.  I guess if you are a banker or a lawyer in the south, you get to stick an in initial in front of your name.

These two were able to wipe out 183% of the equity in 2 years!

Is this your bank?

Ridgestone Bank Brookfield Wisconsin

June 15, 2011

Ridgestone Bank Brookfield Wisconsin was founded in 1999.  The bank took $11MM in tax payer funded bailout money, which has neglected to pay back.  They have also chosen not t pay dividends since 8/09.  So this place pays it’s executives but won’t pay interest on the money, they took from the tax payer.

They are also on the problem bank list.  They were cited for having weaknesses in management, capital, liquidity and asset quality.  Maybe, that is why the Texas ratio is 92%.

Assets are $456MM with equity of $42MM.

The actual equity is $31MM, as the $11MM in tax payer funding is debt not preferred stock as they are calling it.

The problem loan portfolio is $54MM with $44MM on non accrual.

With $54MM in problem loans and $31MM in equity, this place is technically insolvent.

Why isn’t this place closed down.

How come they aren’t paying back the tax payer, let alone paying interest on the debt.

This place is a zombie bank, do  you money in this thing?

First City Bank Fort Walton Beach Florida

June 14, 2011

First City Bank Fort Walton Beach Florida was founded in 1945.  They have a well deserved place on the problem bank list.  The bank engaged in unsafe and unsound banking practices and committed violations of the law.  Also, management practices were detrimental to bank and jeopardized deposits.  The company also performed hazardous lending and were operating in violation of law.  Maybe this management team should be incarcerated?  The Texas ratio is 285% and climbing.

They have assets of $282MM and equity of $8MM.

The problem loan portfolio in relation to what is left of the equity base, is staggering.  They have $29MM in bad loans.

This bank is bankrupt.

They should be shut down.

Net income was ($7MM) in FY10, ($6MM) in FY09 and ($4MM) in FY08

The company forgot to post financial statements or tell you who the management team  is on the website.

I guess when you wipe out 188% of the equity, you may want to lay low.

The one thing they do have is 24 vacant lots for sale.

Do you have money in Last City Bank?

Tennessee State Bank Pigeon Forge Tennessee

June 13, 2011

Check out the new site

capital2risk.com

This is Todd Proffit, he is the clown in the middle

Todd got this disaster on the problem bank list

Todd has $67,000,000 in bad loans with only $57,000,000 in equity

Todd your bank is F$$ing bankrupt

Todd Prof$$tt that is a FU$$Kiing oxymoron

Todd is sitting on $73,000,000 in junk loans, that ain’t pigeon shit

The fat bald slob on the left is Scott Henry, even Dolly wouldn’t touch this guy

R Scott Henry, can you get a bigger fatter head than this

This Wayne Ayers he is on the board of this bankrupt disaster

It looks like a pigeon took s shit on his head

This bank is bankrupt and is on the problem bank list

 


Tennessee State Bank Pigeon Forge Tennessee was founded in 1972.  The place is sitting on the problem bank list.  These clowns really loaded up on the real estate.  The Texas ratio is 103%

Assets are $765MM with equity of $57MM.

$73,000,000 in Shit loans “banking at it’s best”

The problem loan portfolio is immense.  They have $73MM in bad loans with $61MM on non accrual.

Having $73MM in bad loans supported by $57MM in equity is a problem.

This place is insolvent and should be closed.

Take a look at the vacant land they have for sale, are you sitting down, they have about 100 vacant lots for sale. Who in their mind finances vacant land for spec. houses? Apparently, these dopes do.

This thing is a disaster, what is this place going to cost the tax payer?

Their motto is “banking at it’s best”, they want to change that to “banking at it’s worst”

You can’t make this up, the CEO is named Todd Proffitt, the only one making a profit is Todd. He did a prophetic at job running this place into the ground.

What is a Pigeon Forge?

This town is home to the Titanic Museum, Tennessee State Bank sunk faster than the Titanic did.

You are not going to believe this, it is also home to Dollywood.

She would get along well with the bimbo’s running this bank.

Her two assets are worth more than those 100 vacant lots combined.

Union National Bank and Trust of Elgin Elgin Illinois

June 13, 2011

Union National Bank and Trust of Elgin Elgin Illinois was founded in 1909.  The Texas ratio is through the roof at 138%.

They lost $16MM in Q2, wiping out 87% of the equity, the equity position is $25MM

The bank lost $21MM in Q3 2011 wiping out 110% of the equity

The assets are $468MM with $25MM in equity.

The problem loan portfolio in relation to the asset base is admirable.  They have $67MM of problem loans.

With $67MM in problem loans and $25MM in equity, this thing is seized up.

I am kind of wondering why they are not on the problem loan list.

They forgot to tell you who the management team is and don’t reveal the financial statements.

I guess when you bankrupt a 107 year old financial institution, you probably want to keep a low profile.

Are you a customer, you probably don’t want to bank with or trust this place.

Michigan Commerce Bank Ann Arbor Michigan

June 13, 2011

Michigan Commerce Bank Ann Arbor Michigan was founded in 1990. This place is a piece of work, you can’t even make this up.  They are on the problem bank list for unsafe and unsound commercial real estate lending.  The Texas ratio is 202%, this could be the worst bank in the state.

They are also on the list of under capitalized banks which is an even bigger achievement.   They are definitely a contender for the insolvent bank list. The tier 1 risk based capital ratio is 3.88%, slightly less the 8% target.

Assets are $844MM with equity of $19MM.

The problem loan situation is comical.  They have $149MM in problem loans with $131MM on non accrual.  They have $10MM in construction loans on non accrual, that alone could wipe out the remaining equity.

With $19MM in equity and $149MM in problems, this disaster is beyond insolvent.

Why hasn’t this place been shut down?

Check out the net income, income is the operative word.  Net income was ($73MM) in FY10 and ($50MM) in FY09.

For some reason the forgot the post the financial statements or tell you who the management team is on the website.

The one thing this place does have is a boat load of real estate for, they are better off converting from a bank to a real estate broker.

They might want to drop the word Commerce from their name, that isn’t their strong point.

If I were a customer, I won’t doing much commerce with this zombie.

MBank Gresham Oregon

June 13, 2011

Take a look at the new site

capital2risk.com

This is Rex Brittle, he runs the worst bank in the state

Rex lost over $2,000,000 in Q4 2011 alone wiping out 30% of the remaining equity

Rex is sitting on $13,000,000 in bad loans

This bank is rated as a 1 which is the worst rating

Is Rex looking after your money?

Rex means king in Latin, Rex is the king of making bad loans 

Rex Brittle runs the worst bank in Oregon, they are on the problem bank list

They like to engage in unsafe and unsound lending

MBank Gresham Oregon was founded in 1995.  They are probably the worst bank in Oregon.  They have earned a spot on the problem bank list, having been citied with a cease and desist order for unsafe and unsound lending practices.  The Texas ratio is 189%.

They also have the distinction of being on the under capitalized bank list. If there were an insolvent bank list, they would be on that also.

The assets are $206MM with $7MM in equity.

The problem loan portfolio in relation to the equity position is incredible.  They have $30MM in problem loans, with $28MM on non accrual.

Do you think $7MM in equity is enough to support $30MM in bad loans.

You probably can’t get more insolvent than this place.

Net income was ($3MM) in FY10, ($12MM) in FY09 and ($1MM) in FY08.   They lost another $832k in Q1 2011.  The bank lost another $2MM in Q2.

This management team wiped out 190% of the equity in 3 years and the equity erosion continues.

They may want to take a look at the operating leverage.  With $6MM in net income and $7.6MM in overhead, this cost structure is not working.

This thing is on the verge of extinction, why hasn’t it been closed down.  Maybe the regulators are letting the management team run this place into the ground on their own.

Jasper Banking Company Jasper Georgia

June 13, 2011

Take a look at the new site

capital2risk.com

This is Paul Neely, wiped out this bank

This is Paul Neely he wiped out 82% of the equity in only 3 years

Paul is about to bankrupt a 66 year old bank

Paul is sitting on $47,000,000 in bad loans

Is this dope watching your money?

This is Marvin Chance, the CFO, he was instrumental in destroying this bank.

Would you take a chance with risking your money, with Marvin?

Here is the board of directors, these clowns approved all this ignorance

Jasper Banking Company Jasper Georgia was founded in 1945. For some reason, this abortion is not on the problem bank list.  One would think with a Texas ratio of 303%, they should be well qualified.

Fortunately, they were able to qualify for the under capitalized bank list. Not hard to do when you have no equity.  They would definitely be approved for the insolvent  bank list.

The assets are $255MM with equity of $11MM.

The problem loan portfolio is $47MM, with $30MM on non accrual.

Do you think this thing is bankrupt?

They lost another $1.4MM in Q2.

The CEO Paul Neely, was instrumental in wiping out 82% of the shareholders equity in the  last 3 years, let alone bankrupting a 66 year old financial institution.

You might want to take your money out of this impending implosion.

United American Bank San Mateo California

June 12, 2011

Check out the new site

capital2risk.com

 

These are the Schrups, these clowns run the third worst bank in California

The Savvy Schrup banksters are on the problem bank list

These A$$holes wiped out the stock holders, the stock is delisted

The Schrups have $30,000,000 in bad loans with only $9MM in equity

These dopes lost $5,000,000 in Q3 2011,

The Schrups wiped out 56% of the remaining equity on only 90%

These guys are dumber than they look, they should be bankrupt by year end


These are the Schrups they run one of the worst banks in California

They are on the problem bank list for making a lot of bad commercial real estate loans

The Schrups wiped out the stock holders and the stock is de listed

The Schrups bankrupted this place in record time, these are 2 savvy bankers

United American Bank San Mateo California was founded in 2003.  They are on the problem bank list, for essentially making a ton of bad commercial real estate loans.  That might explain the Texas ratio of 163%, this is one of the worst banks in California.  The stock is delisted.

They have assets of $319MM and equity of $9MM

The problem loan portfolio in relation to the equity base is staggering.  They have $38MM in bad loans.

With $38MM in bad loans and $9MM in equity, this place is bankrupt.

Why isn’t this thing closed down?

John Schrup didn’t need much time to bankrupt this place.

Who is the credit officer, Charlie Sheen.

Net income was ($13MM) in FY10, ($3MM) in FY09 and ($1MM) in FY08, at this rate they be bankrupt by year end.

They lost another $2.6MM in Q2 2011.

They stated that we were looking to raise $25MM in capital by the end of March.

It didn’t take this management team long to wipe out the shareholders, who would give them more money to lose.

It looks like that didn’t happen, who would put money into this disaster, Bernie Madoff?

They said they were looking for a suitor, who would want to buy a bankrupt entity.

Planters First Bank Cordele Georgia

June 10, 2011

The Texas ratio is 130%

This place is on the under capitalized bank list

These Planters have $30,000,000 in bad loans and only $14,000,000 in equity

This place survived the Great Depression, can it survive this savvy management team?


Planters First Bank Cordele Georgia was founded in 1896.  They made a good effort but they were unable to make the problem bank list. It looks like a Texas ratio of 191% in Georgia, won’t do in this cut throat environment.

Have no fear, the made it on the under capitalized bank list and are they under capitalized.  This is a far more exclusive group.

They have assets of $315MM and equity of $10MM.

The problem loan portfolio is $32MM with $29MM on non accrual.

Having $32MM in bad loans and $10MM in equity isn’t good enough to make the problem bank list? These regulators are tough.

The place looks insolvent to me.

They don’t post the financial statements, tell you the CEO is or whom  the management team are.

Do you have money in this place?

Planters First Bankers Last!

I guess there is not enough room on site, after posting all those foreclosed properties.

I don’t know who the management is, but the one thing I do know, they wiped 230% of the equity.

This place likes to finance vacant land!

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Cordele, Georgia South 5th Street
Cordele, Georgia
1.40 Acres LL 231, 10th LD
North 1/2 of block 702
$15,000.00 Angie Ellis
PlantersFIRST, Cordele, Ga.
229-276-2475
aellis@plantersfirst.com
Financing Available
with approved Credit
Warner Robins, Georgia 406 and 408 Rosewater Dr
Warner Robins, Ga.
Lots 14 and 15
Rosehill Subdivision
Block H, Section 4
$35,000.00 ea
$70,000.00 for both
Angie Ellis
PlantersFIRST, Cordele, Ga.
229-276-2475
aellis@plantersfirst.com
Financing Available
with approved Credit
Hawkinsville, Georgia 60 and 70 Technology Pkwy
Hawkinsville, Ga.
6 Acres with
6650 Square foot
Metal Building
$160,000.00 Angie Ellis
PlantersFIRST, Cordele, Ga.
229-276-2475
aellis@plantersfirst.com
Financing Available
with approved Credit
Cordele, Georgia 1011 E 18th Ave
Cordele, Ga.
1550 sq feet
Ranch style home
2 Bed 2 Bath
$60,000.00 Angie Ellis
PlantersFIRST, Cordele, Ga.
229-276-2475
aellis@plantersfirst.com
Financing Available
with approved Credit
Hawkinsville, Georgia 103 Commerce Street
Hawkinsville, Ga.
4001 sq feet
Commercial Building
Lot size 60 X 74.9
$55,900.00 Mary Spivey
Key Realty
Hawkinsville, Ga.
478-892-8414
Hephzibah, Georgia 2436 Patiller Road
Hephzibah, Ga.
2000 sq feet
1999 MFG Home
4 Bedrooms 2 Bath
$49,900.00 Angie Ellis
PlantersFIRST, Cordele, Ga.
229-276-2475
aellis@plantersfirst.com
Financing Available
with approved Credit
Newnan, Georgia 3054 Hwy. 154,
Newnan, Ga.
18,375 sq ft. building, formerly an
Ace Hardware. Approx. 2.66 acres
 $1,110,000.00 Angie Ellis
PlantersFIRST, Cordele, Ga.
229-276-2475
aellis@plantersfirst.com
Financing Available
with approved Credit
Carrollton, Georgia 106 Foster St.
Carrollton, Ga.
Commercial lot
Click here for plat
Click here for details
 $9,000.00 Angie Ellis
PlantersFIRST, Cordele, Ga.
229-276-2475
aellis@plantersfirst.com
Financing Available
with approved Credit
Hawkinsville, Georgia Jenny Lane
Hawkinsville, Ga.
25.89 acres, Pulaski Co. subdivision would comprise 5 undeveloped lots.
(selling as one parcel)
$57,500.00 Mary Spivey
Key Realty
Hawkinsville Ga.
478-892-8414
Abbeville, Alabama Holiday Shores Subdivision
Holiday Drive
Abbeville, Alabama
49.98 Acres, plus 8 additional Lots $90,000.00 John Lolley
Coldwell Banker
Eufaula AL, 36027
334-687-2431
jlolley.realtor@yja-inc.com
Hawkinsville, Georgia 384 Eastman Hwy
Hawkinsville, Ga.
.39 Acres
1100 SF Mfg Home
$46,000.00 Angie Ellis
PlantersFIRST, Cordele, Ga.
229-276-2475
aellis@plantersfirst.com
Financing Available
with approved Credit
Porterdale
Georgia
200 Roseberry Road
Porterdale, Georgia
52.02 Acres
104 Residential lots
95 % complete
Call Contact Angie Ellis
PlanterFIRST
229-276-2475
aellis@plantersfirst.com
Financing Available
with approved Credit
St George Island
Flordia
356 Cook Street
St George Island, Flordia
.31 ac Bayview Lot
Unit 5 Block 77 Lot 2
Franklin County
$59,000.00 Travis Stanley
Fickling and Company
tstanley@fickling.com
Cordele, Georgia Ray Road
Cordele, Ga.
69.01 acres
Crisp County
Parcel number:
008 003 A
Call Contact Angie Ellis
PlantersFirst
229-276-2475
aellis@plantersfirst.com
Financing Available
with approved Credit
Cordele, Georgia Ray Road
Cordele, Ga.
181 acres
Crisp County
Parcel number:
008 008
Call Contact Angie Ellis
PlantersFirst
229-276-2475
aellis@plantersfirst.com
Financing Available
with approved Credit
Warner Robins, Georgia Park Avenue
Warner Robins, Ga.
21.52 acres, zoned R4-residential
Houston County Parcel number:
0W0870 099000
Click here for plat
$300,000.00 Angie Ellis
PlantersFIRST, Cordele, Ga.
229-276-2475
aellis@plantersfirst.com
Financing Available
with approved Credit
Perry, Georgia Corner of Houston
Lake Rd and Perry Pkwy
Perry, Ga.
4.07 Acres
Commercial Lot
Parcel #0P41A0
$1,500,000.00 Angie Ellis
PlantersFIRST, Cordele, Ga.
229-276-2475
aellis@plantersfirst.com
Financing Available
with approved Credit
Ocilla, Georgia 115 Kirk Lane
Ocilla, Ga.
1563 Sq ft Brick House
Lot 38 Lakewood Subdivision
$65,000.00 Angie Ellis
PlantersFIRST, Cordele, Ga.
229-276-2475
aellis@plantersfirst.com
Financing Available
with approved Credit

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Peoples Bank & Trust Buford Georgia

June 10, 2011

Peoples Bank & Trust Buford Georgia was founded in 1984.  For some reason they aren’t on the problem bank list.  It is so competitive getting on the list in Georgia that even a Texas ratio of 294%, doesn’t cut it anymore.

Fortunately, the made the list for under capitalized banks, which is probably more of an honor.

They have assets of $341MM and equity of $12M.

The problem loan portfolio is $22MM.

With $22MM in bad loans and $12MM in equity, they should at least let them be on the problem loan list.

This thing is insolvent.

They don’t post financial statements or tell you who the CEO is or whom the management team are.

I might not know who the management team is, but I do know they wiped out 200% of the equity in the last 3 years.

When real estate  for sale is the first thing you on the website, that is a problem.

Let me tell you they have plenty of real estate for sale.  Anyone looking for tracts of land for undeveloped sub divisions?

Judging from the website, you can’t tell  if this place is a bank or Caldwell Banker.

The good people of Buford shouldn’t bank or trust this place.

Capital City Bank & Trust Atlanta Georgia

June 10, 2011

This George Andrews the CEO

He got this place on the problem bank list and the under capitalized bank list

He wiped out 83% of the equity

George was cited for weakness in management, shocking

George also wiped out the shareholders

George has $45,000,000 in junk loans with $12,000,00 in equity

George you are bankrupt, you destroyed this bank

Take your money out of this disaster

Capital City Bank & Trust Atlanta Georgia was founded in 1994.  The company was placed on the problem bank list for weakness in management, asset quality, capital and earnings.  Maybe that is why the Texas ratio is 206%.  The stock is delisted.

Get this, they are also on the under capitalized bank list.  This team is good, what else can they qualify for, how about the insolvent bank list.

They have assets of $295MM and equity of $12MM.

The problem loan portfolio is phenomenal with $47MM in bad loans and $35MM on non accrual.

With $12MM in equity and $47MM in bad loans, this place is insolvent.

The management team wiped out 83% of the equity.

They might want to change the name, capital is the one thing they don’t have.

It shouldn’t take them long to blow through the rest.

AmericanWest Bank Spokane Washington

June 10, 2011

AmericanWest Bank Spokane Washington was founded in 1977.  The bank is on the problem bank list as it entered into a cease and desist agreement.  They were cited for using unsafe and unsound banking practices.  The bank has weakness in management, capital, assets quality and earnings.  The order stated that management was detrimental to the bank.  The stock was delisted.

They have assets of $1.6B and equity of $191MM.

This management team is great at losing money. Check this out, net income was ($28MM) in FY10, ($62MM) in FY09 and ($155MM) in FY08.

Wow, that is $245MM in 3 years, these guys are good.

They might want to figure out the cost structure.  In FY10, they have $53MM in income with $83MM of overhead, that might explain the losses.

The efficiency ratio is 120%.

Take a look at the real estate they have for sale, this place likes to finance vacant land.

Community Bank of Broward Dania Beach Florida

June 10, 2011

Community Bank of Broward Dania Beach Florida was founded in 2002.  For some reason, they are not on the problem bank because they should be.  I guess because the Texas ratio is only 100%, which isn’t bad for Florida.

They have $484MM in assets and $39MM in equity.

The problem loan portfolio is incredible in relation to the equity position.  They have $56MM in problem loans with $53MM on non accrual.

With $39MM in equity and $56MM in problem loans, this thing is insolvent.

Why aren’t they on the problem bank list, I think they have some problems.

The CEO Bruce Kier did a good job in wiping this thing out in record time.

It won’t be long until this shipwreck slides into the Atlantic.

Do you trust these pirates with your money?

Nantahala Bank & Trust Franklin North Carolina

June 9, 2011

Take a look at the new site

capital2risk.com

This is James VanderWoude, the CEO

What the F$$$ck is a VanderWoude

James bankrupted this disaster in record time

Check at all vacant land this idiot is sitting on

James you idiot, you don’t finance vacant land

Do you have your money with this clown, take it out this place is bankupt

James got this place on the problem bank list

James likes to engage in unsafe and unsound banking, sounds kinky

James was cited for weakness in management, shocking!

He lost $2,828,000 in Q4 2011 wiping another 25% of the remaining equity!

This is Clara Reffit, this dope is the President of this insolvent bank?

Clara is sitting on $27,000,000 in bad loans with only $10,000,000 in equity

Clara you are Fu$$$cking bankrupt

Clara wiped 16% of the remaining equity in Q3 2011 alone


A couple of fine CEO’s, can’t be worse than the current group of clowns

Nantahala Bank & Trust Franklin North Carolina was founded in 2004.  That was a brilliant time to start a bank.  They bankrupted this place in record time.  They are on the problem bank list for weaknesses in management, asset quality, capital and earnings.  The Texas ratio is 203% making it one of the worst banks in the state.

They have assets of $181MM and equity of $7MM.

The problem loan portfolio is amazing.  There are $29MM in problem loans all on non accrual.

For some reason I don’t think $7MM in equity is going to support $29MM in bad loans.

This place is bankrupt.

They are beyond insolvent

How about BANKRUPT!

Why aren’t they shut down?

If they went mark to market on the real estate they would be bankrupt today.

They eradicated 45% of the equity in the last 3 years.

They haven’t posted a financial statement on the website since Q3 2010.

Take a look at the news section, there is none.  Here is some news, you wasted no time bankrupting this place.

Take a look at the real estate for sale, it’s all vacant land and broken down buildings.  These clowns will finance anything.

Look at the management team, James VonderWade and Clara Refit bankrupted this thing in record fashion, savvy bankers.

You are better off hiding your money, in this fat slobs trunk than this bank

Do you have money in this zombie? I wouldn’t bank with them or trust them.


01 – Residential Lot
Lot 63, 1.26 Acres, Highland Creek
Murphy, NC
Asking Price
$29,900
02 – Residential Lot
12 Lots, Laurel Crest Subdivision
Murphy, NC
Asking Price
Call for individual pricing; $200,000 for all
03 – Residential Lot
Lot 104, 0.88 Acres, Highland Creek
Murphy, NC
Asking Price
$31,500
04 – Residential Lot
Lot 7, 1.03 Acres, McClure Point Rd
Hayesville, NC
Asking Price
$69,900
05 – Commercial Building
Convenience Store, 1.2 Acres
Martins Creek Road Murphy, NC
Asking Price
$85,000
06 – Residential Lot
13 Lots, Pinhook Ridge Subdivision
Murphy, NC
Asking Price
Call for individual lot pricing; $264,000 for all
07 – Residential Lot
11 Acres, Johnsonville Road
Murphy, NC
Asking Price
$6,348 per acre; $69,900 for all
08 – Residential Lot
2 Lake View Lots 2.43 Acres
Lake Appalachia
Murphy, NC
Asking Price
$85,000
09 – Land Tract
3.48 Acres, Junalaska Road
Andrews, NC
Asking Price
$39,000
10 – Residential Lot
Lot 47, Glen Hay Estates
Topton, NC
Asking Price
$60,000
11 – Residential Lot
3.98 Acres Five Forks Road
Murphy, NC
Asking Price
$39,900
12 – Residential Lot
23.19 Acres, Robinson Road
Andrews, NC
Asking Price
$229,000
13 – Residential Lot
2 Lots, 1.8 Acres, Martins Creek Road
Murphy, NC
Asking Price
$34,900
14 – Residential Lot
22 Acres, Cross Creek Cove
Andrews, NC
Asking Price
$115,000
15 – Home and Land Tract
Home and 22 Acres
Beech Tree Road
Whittier, NC
Asking Price
$875,000
16 – Residential Lot
8.8 Acres, Majestic Mountain Subdivision
Murphy, NC
Asking Price
$45,000
18 – Home
Home and 8.11 Acres, Bates Creek Road
Murphy, NC
Asking Price
$170,000
20 – Home
Home in Upscale Community, 56 Biscuit Rock Road
Highlands, NC
Asking Price
$775,000
22 – 4 Residential Lots
Five Forks Subdivision outside of Murphy, NC
Murphy, NC
Asking Price
$36,000 single lot; $143,000 all four
23 – Land Tract
11 Acres, Joe Brown Highway
Murphy, NC
Asking Price
$49,900
24 – Land Tract
34.44 Acres, Rogers Lane
Murphy, NC
Asking Price
Make Offer
25 – Land Tract
49.35 Acres, Lizzie Elliot Road
Murphy, NC
Asking Price
Make Offer
26 – Residential Lot
Lot 74, 1.12 Acres, Highland Creek
Murphy, NC
Asking Price
$19,900
27 – Land Tract
13.7 Acres, Brasstown Creek
Murphy, NC
Asking Price
$250,000
29 – Unfinished Home
Lot 30 Grand Vista
Murphy, NC
Asking Price
$230,000
30 – Residential Lot
Lot 7 Tanahee Ridge
Murphy, NC
Asking Price
$7,500
32 – Commercial Building
786 Main Street
Andrews, NC
Asking Price
$145,000
33 – Home
Lot 12 of The Havens Subdivision
Murphy, NC
Asking Price
$93,000
34 – Land Tract
13.4 Acres, Eagles Nest Trail
Murphy, NC
Asking Price
$140,000
36 – Residential Lot
Lot M107
Gilmer County, GA
Asking Price
$11,500
37 – Residential Lot
Lot 13 Country Mountain Ridge
Murphy, NC
Asking Price
$32,000
38 – Commercial Building
1378 Hwy 76 East
Hiawassee, GA
Asking Price
$675,000
40 – Home
Lot 9 Rocky Springs Subdivision
Murphy, NC
Asking Price
$95,000
42 – Land Tract
16.08 acres, Sunrise Mountain Estates
Murphy, NC
Asking Price
$78,000
43 – Acreage in Residential Neighborhood
6.55 Acres, Fairhaven Drive
Andrews, NC
Asking Price
$62,000
44 – Residential Lots
Lots 33 and 45, Cherokee Heights Subdivision
Murphy, NC
Asking Price
$30,000
45 – Acreage in Residential Community
6.31 Acres, Sherwood Forest Subdivision
Andrews, NC
Asking Price
$54,000
46 – Lot 31C
Smokey Hollow
Murphy, NC
Asking Price
$18,000
47 – Large Land Tract
135 Acres
Murphy, NC
Asking Price
$675,000
48 – Tract/Subdivision
23+/- Acres, Partial River Frontage, Bamboo Trail
Marble, NC
Asking Price
$282,000
49 – Residential Lot
Lot 4 Forest Edge
Murphy, NC
Asking Price
$20,000
50 – Residential Lot
Lot 75, The Sanctuary
Murphy, NC
Asking Price
$87,000
51 – Homes
4 Cabins, Bustle Lane
Cashiers, NC
Asking Price
$523,000
52 – Residential Lot
Lot 32A, Timber Ridge
Cashiers, NC
Asking Price
$112,442
53 – Residential Lots
4 Lots, Blair Street
Murphy, NC
Asking Price
$70,000
54 – Land Tract
23 Acres, Pleasant Hill Road
Murphy, NC
Asking Price
$195,500
55 – Commercial Building
5718 US West
Murphy, NC
Asking Price
$850,000
56 – Commercial Building
590 Tusquittee Road
Hayesville, NC
Asking Price
$270,000
57 – Land Tract
126 Acres, Hwy 64 West
Murphy, NC
Asking Price
$1,355,000
58 – Land Tract
15 Acres, Duncan Road
Murphy, NC
Asking Price
$84,500
59 – Residential Lots
10 Lots Ivy Bend Subdivision
Murphy, NC
Asking Price
$192,000
60 – Residential Lot
Lot 9 Glen Oaks
Hayesville, NC
Asking Price
$27,000
62 – Home
1457 Joe Brown Hwy
Murphy, NC
Asking Price
$99,900
64 – Land Tract
29 Acres, Hiawassee Dam Area
Murphy, NC
Asking Price
$149,900
65 – Residential Lot
2.25 Acres, Vineyard Road
Hayesville, NC
Asking Price
$35,000
66 – Residential Lot
Lot 91, Highland Creek Subdivision
Murphy, NC
Asking Price
$19,900
67 – Commercial Building
5893 Murphy Highway
Blairesville, GA
Asking Price
$270,000
68 – Residential Lots
Lots 82-85, Waterdance Subdivision
Glenville, NC
Asking Price
Call for Pricing
69 – Land Tract
18 Acres, Joe Moody Road
Warne, NC
Asking Price
$155,000
70 – Residential Lot
Lot 28, Smokerise
Whittier, NC
Asking Price
$40,600
71 – Residential Lots
Lots 4 and 5, 134 Mill Hollow Road
Murphy, NC
Asking Price
$42,400
72 – Land Tract
Lot 10, Wattia Circle
Murphy, NC
Asking Price
$73,000
73 – Residential Lot
Lot 39, Timber Ridge
Cashiers, NC
Asking Price
$92,000
74 – Residential Lot
Lot 28, The Ridges Of Mill Creek
Murphy, NC
Asking Price
$20,000
77 – Residential Lots
7 Lots, 18.3 Acres, Wild Horse Canyon Subdivision
Blairesville, GA
Asking Price
$200,000; call for individual lot pricing
78 – Development
48 Acres on Trimont Lake Rd
Franklin, NC
Asking Price
$280,000; call for individual lot pricing
81 – Residential Lots
Lots 64, 66, & 68 of Fire’s Creek Subdivision
Hayesville, NC
Asking Price
$180,000 for all 3 or $60,000 each
82 – Residential Lot
2.67 acres off Old Jones Road
Brasstown, NC
Asking Price
$24,000
83 – Residential Lot
Lot 104 of Shiloh Stables
Hayesville, NC
Asking Price
$65,000
84 – Home
160 Hwy 64 East
Hayesville, NC
Asking Price
$194,900
86 – Commercial Lot
3.3 Acres on N. Main Street
Clayton, GA
Asking Price
$225,000
88 – Residential Lot
Lot 3 Tanahee Ridge
Murphy, NC
Asking Price
$7,500
89 – Residential Lots
36 Lots, Hidden Mountain Subdivision
Murphy, NC
Asking Price
$722,000 ; Call for individual pricing
90 – Residential Lots
11 acres off Hwy 515
Blairesville, GA
Asking Price
$511,000
92 – Residential Lot
4.08 Acres, Lot 3 Eagle Point
Franklin, NC
Asking Price
$31,500
93 – Residential Lots
Lot 39 and 40, Laurel Crest
Murphy, NC
Asking Price
$20,000
94 – Residential Lot
Lot 57J Mountain Harbor
Hayesville, NC
Asking Price
$45,000
95 – Home
1331 Tamatla Rd
Marble, NC
Asking Price
$99,900
98 – Residential Lot
Lot 37 Brasstown Trails
Brasstown, NC
Asking Price
$50,000
99 – Home
1331 Tamatla Rd
Marble, NC
Asking Price
$99,900
Ask about our Special Financing Availability!
Nantahala Bank & Trust Company, MEMBER FDIC, EQUAL HOUSING LENDER
Copyright 2010. All Rights Reserved

Southport Bank Kenosha Wisconsin

June 9, 2011

Here is the new site

capital2risk.com

Check out Mike this clown doesn’t have a hair on his head but he has pubic hair rapped around his face?

Mike kicks it down with hazardous lending, and violating bank law

This kinky bankster likes to engage in practices that are detrimental to the bank

Not sure who gets bend over Mike or the customer?

Mike is smiling for some reason

Mike when you have $35,000,000 in bad loans, things aren’t good

This clown is on the problem bank list and he is smiling?

Mike the efficiency ratio is 89%, you lose money just opening up the doors

Check out the ROE (47%), he is one savvy bankster

Mike Falbo is the head of this train wreck

Why is Mike smiling?  Because he gets off on hazardous lending, violating bank rules and engaging in management practices that were detrimental to the bank!

When your this bald, you probably don’t want to be sporting pubic hair on your face, cease and desist.

Southport Bank Kenosha Wisconsin was founded in 1999.  Get a load of this disaster.  They are on the problem bank list. They were given a cease and desist order for engaging in unsafe and unsound banking practices.  The management practices were detrimental to the bank, that’s not good. The board failed to supervise.  They engaged in hazardous lending and were violating banking rules and regulations.  These guys were good, the Texas ratio is 100%.

The assets are $322MM with equity of $20MM.

Hire this cat as CEO, can’t be worse the bald slob Mike, he actually has hair!

The problem loan portfolio is impressive, with $35MM in bad loans and $34MM on non accrual, that’s a good effort.

With $35MM in bad loans and $20MM in equity, I am thinking the equity is wiped out.

If they actually wrote the bad loans down to what they are worth, the remaining equity would probably be history.

Take a look at the website, the forgot to post the financial statements or tell you who the management team is.

I am not sure I would trust this disaster.

This isn’t Iowa but it’s close, her husband looks gay

The one thing they do have on the website is the list of real estate for sale, there is no shortage.

The list is incredible, they have some scary looking real estate for sale, loads of vacant, broken down properties and a plethora of vacant land.

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

The name is appropriate, this thing is heading south.

Do you have money in this thing?

It is an unmitigated disaster.

Community South Bank Parsons Tennessee

June 8, 2011

Take a look at the new site

capital2risk.com

Community South Bank Parsons Tennessee was founded in 1968.  The Texas ratio is an astounding 137% but for some reason they are not on the problem bank list.  It will soon become clear that this thing has problems.

The company has assets of $657MM and $33MM in equity.

The problem loan situation is incredible.  They have $119MM in bad loans with, get this $87MM in non accruals.

This bank has $87MM in bad loans with $33MM in equity, this might be a problem, I guess the regulators don’t seem to think so.

Why isn’t this thing shut down?

Why aren’t they on the problem bank list?

They forgot to post the financial statements on the website.

Probably not a bad idea, don’t want to scare the community.

This place is going south and taking the community with it.

The Viking Bank Seattle Washington

June 7, 2011

This Patrick Raymond he is the CEO who bankrupted this place

This clown is sitting on $35,000,000 in bad loans and only $20,000,000 in equity

BANKRUPT!

Why is this joker smiling, he wiped out 30% of the equity in Q3 alone


The Viking Bank Seattle Washington was founded in 1992.  For some reason they are not on the problem bank list, believe me, this place has problems.  The Texas ratio is a staggering 130%.

They have assets of $434MM and $25MM in equity.

The problem loan portfolio is impressive.  They have $49MM in problem loans, with $47MM on non accrual. Wow 96% of the portfolio is on non accrual, that’s not good. It gets better, they have $18MM in construction loans that are on non accrual.  That will bankrupt this place.

Hold on, they have $49MM in problem loans, with $25MM in equity, this bank is beyond bankrupt. This thing is on the verge of sliding into the Pacific.

Why aren’t they at least on the problem bank list, those regulators are a savvy group.

They lost $3.8MM in Q2, the equity position is down to $22.7MM.

The bank lost another $6MM in Q3, or 30% of the remaining equity.

They have $40MM in problem loans and $20MM in equity

Patrick Raymond is the CEO who ran this place into the ground, a true Viking.

These Vikings did a great job of raiding the equity position, they wiped out 38% of the equity in one year!  That’s how you loot the stockholders and rape the portfolio.

This is a great name for this place, they raid, loot and rape the customers and investors and they did it without spears and swords

Maybe these Vikings don’t know how to lend but they do know one thing, the best way to rob a bank is to own one!

Macon Bank Franklin North Carolina

June 6, 2011

Take a look at the new site

capital2risk.com

That is Roger Plemens on the right, he wiped out 22% of the equity in only 3 months

Roger is trying to wipe out an 89 year bank

Look at all the real estate they have for sale

There is $82,000,000 in problem loans and only $64,000,000 in equity

This place is bankrupt

Roger lost $19,000,000 in Q3 alone, wiping out 27% of the equity in only 90 days

Macon Bank Franklin North Carolina was founded in 1922.  The company is not on the problem bank list but it should be.  The Texas ratio is 90%

They have assets of $932MM and equity of $64MM.

The problem loan portfolio is immense.  They have $82MM in problem loans!  There are $24MM in construction projects on non accrual.

With $82MM of problem loans and only $64MM in equity, this place is technically insolvent.

They recently initiated a stock offering, who in their right mind would invest in this thing?

They lost $15MM in Q2 alone, Roger Plemens the CEO wiped out 22% of the equity in only 3 months? This guy is good.

This bank lost another $19MM in Q3 2011 or 27% of equity.

Rogers Plemens destroyed another 27% of the equity in 90 days in Q3 2011, this guy should be questioned.

Take a look at the FY10 annual report, they somehow forgot to provide the income statement.

This place might have survived the Great Depression but it won’t survive  Roger Plemens.

Take a look at all the bank owned properties on the website.  These clowns will even finance for you, the bad loans they already financed. Can’t beat that.

Do you have money in this bankrupt disaster?

This bank is history at this rate.

You better head for the Macon County line.

Take you money out of this place.

State Bank of Countryside Illinois

June 6, 2011

State Bank of Countryside Illinois was founded in 1975.  For some reason they are not on the problem bank list, though the competitive landscape for these slots is challenging in Illinois.  The Texas ratio is 122%.

The assets are $806MM with $72MM in equity.

The problem loan portfolio, in relation to the equity base in incredible.  They have $112MM in bad loans with $96MM on non accrual.

This place is insolvent and should be shut down.

They had losses of $15MM in FY09 and FY10.

They haven’t posted a financial statement on the website since FY09 and then they forgot to include an income statement.  I guess when you lose $15MM, that is not a bad idea.

The balance sheet alone should be enough to scare off the customer base.

They might be trying to hide the financial condition, but it is not to hard to figure out, looking at the website

They have loads of vacant land for sale, that could be part of the problem, do you think?

These savvy bankers decided to load up on vacant lots and some abandoned properties.

Do you have your money in this place?

This is an abortion.

U S Century Bank Miami Florida

June 3, 2011

Octavio did an admirable job of racking up serious levels of bad loans

Octavio $300MM in bad loans and $123MM in equity, scary, this place is looking bankrupt.

U S Century Bank Miami Florida was founded in 2002.  For some reason they are not on the problem bank list.  Take a look, they have serious problems.  The Texas ratio is 127%.

The company has assets of $1.7B and equity of $123MM.

The problem situation is phenomenal. They have $289MM in problem loans, with get this, $216MM are on non accrual.  This management team made a valiant effort  making so many bad loans in such a short time.

They have $289MM in bad loans with $123MM in equity.

This place is beyond bankrupt.

Why is this bank still open?

Why aren’t they on the problem bank list?

These guys are adept a losing money. Net income was ($43MM) in FY10 and ($44MM) in FY09.  They lost another ($16MM) in Q1 2011.

They lost another $40MM in Q2, they wiped out 40% of the equity in only 3 months, stellar performance.

Octavio Hernandez, the CEO, is bankrupting this place in record time.  Even better he is getting paid well to do it.

Is this your bank?

This thing is a disaster.

U S Century?  They might want to change the name, this thing won’t even survive a decade.

Seaway Bank and Trust Chicago Illinois

June 3, 2011

On the left is Rueben Hopkins the CEO

He likes to finance vacant land

This disaster has $159MM in problem loans

Seaway Bank and Trust Chicago Illinois was founded 1965.  For some reason, the company is not on the problem bank list. Let me tell you, this place has problems.  The Texas ratio is 163%.

The bank has assets of $696MM and equity of $37MM.

The problem loan portfolio is astonishing.  They have $159MM in problem loans with an incredible $103MM on non accrual.

With $159MM in problem loans and $37MM in equity.

This bank is beyond bankrupt.

They need to close down this disaster.

This is beyond a zombie bank.

Take a look at the problem loans on the website, they have some fine vacant land for sale.

Is this your bank?

This place is going the way of sliding into the sea.

They might have to settle for drowning in Lake Michigan.

Do you have money in this place? It is going out to sea.

Pacific Mercantile Bank Costa Mesa California

June 2, 2011


This is Raymond Dellerba, this clown get paid $868,000 a year to lose $43MM in 3 years

The bank is on the problem bank list, everybody loves Raymond?

This bald bankster is sitting on $45,000,000 in junk loans

Raymond, you Ahole, you wiped out your shareholders

The efficiency ratio is 84%, this idiot loses money just opening up the doors

The Texas ratio is 48%, this is one of the worst banks in CAL

Raymond, you get paid good to bankrupt this place

Take your money out of this bankrupt disaster

How is the capital augmentation effort going Raymond?

Do you think this fat slob bankster has ever missed a meal?

Pacific Mercantile Bank Costa Mesa California was founded in 1999.  The company is on the problem bank list.

The women in cal are all over this guy

The only thing being augmentated with this guy are his 3 chins

The problem loan portfolio is huge.  They have $44MM in problem loans, $38MM of which are on non accrual.

They have $1B in assets and $63MM in equity.

So, they have $44MM in problem loans with $63MM in equity, that is not a good situation.

They are insolvent.

Why isn’t this thing closed down?

Net income was ($15MM) in FY10, ($17MM) in FY09 and ($11MM) in FY08.

They initiated a capital augmentation efforts on 2/1/11. It doesn’t look like it is going well, shocking!

At least the executives are well paid for bankrupting this place.

Raymond Dellerba             made $868k

Robert Barlett                      made $263k

Nancy Greg                           made $220k

That is good pay for running this bank into the ground and wiping out the shareholders.

Raymond makes $868k, to lose $43MM in three years and destroying 43% of the equity position.

Why isn’t anyone investing in the capital augmentation effort.

The only thing this management team augments is their salary and the bad loan portfolio. It  is not net income or shareholder value.

This thing is about to fall into the Pacific.

Norstates Bank Waukegan Ilinois

June 2, 2011

Norstates Bank Waukegan Illinois was founded in 1962.  The company is on the problem bank list for disastrous commercial real estate lending.  The Texas ratio is 88%.

The company has assets of $531MM and equity of $44MM.

The problem loan situation is phenomenal.  They have $49MM in problem loans, with $40MM on non accrual.

The bank has $49MM in bad loans with $44MM in equity.  The non accruals will wipe out the remaining equity.

This bank is insolvent.

Why are they still open?

The management team wiped out 45% of the equity in 3 years.

Net income was ($5MM) in FY10, ($28MM) in FY09 and ($2MM) in FY08

The executives are hanging in their pretty well.

Scott Yelvington       made $200k

Kerry Bigay                 made $137k

Thomas Newton       made $125k

Brett Houston           made  $133k

That is not bad for bankrupting this company.

Norstates? nor do they have any equity.

Heritage Bank Jonesboro Georgia

May 29, 2011

Heritage Bank Jonesboro Georgia was founded in 1955.  They are on the problem bank list after signing a consent order for essentially pathetic commercial real estate lending.  The stock is delisted.  The Texas ratio is 191%, ouch.

They are also on the list of under capitalized banks with tier1 risk based capital of 7.75%.

They have assets of $394MM and equity of $18MM.

The bank has $43MM in problem loans.

With $18MM in equity and $43MM in problem loans, this place is insolvent.  The non accrual of $24MM alone will wipe them out.

Why isn’t this thing shut down.

The management team destroyed 89% of the equity in 3 years.

Check out the real estate for sale on the website.  This place likes to finance vacant land.

They have forgotten to post the financial statements since 2007.

They have not posted news since 2009.

Here is a news flash, they are bankrupt!

Do you have money in this place?

They have a heritage of making bad loans.

They are Jonesing for cash in this boro.

Need that cash to feed that jones.

Legacy Bank Boca Raton Florida

May 28, 2011

Legacy Bank Boca Raton, Florida was founded in 2006.  That was a smart time to open up a bank.  For some reason, they are not on the problem bank.  The problem loan list is very competitive in Florida.  It is probably because the Texas ratio is only 56%.  Believe me, this place has problems.

They have $333MM in assets with $24MM in equity.

Check out the problem loan portfolio.  They have $50MM in problem loans, with $25MM on non accrual.

The bank has  $50MM in bad loans with $25MM in equity?

This place is bankrupt.

Why aren’t they shut down?

Why aren’t they on the problem bank list.

At least they are on the list of under capitalized banks.

Is this your bank?

Their legacy  is wiping this bank out in record time.

Gwinnett Community Bank Duluth Georgia

May 28, 2011

Check out the new site!

capital2risk.com

is is Thomas Martin, he runs one of the worst banks in the country, he we was cited for hazardous lending?

This fat cat lost $3,746,000 in Q4 2011 alone

Thomas Martin wiped out 18% of the equity in the last 90 days

This fat slob is sitting  $100,000,000 in junk loans, with only $17,000,00 in equity

Is this a ponzi scheme?

Gwinnett Community Bank Duluth Georgia was founded in 1999.

This is Tom Martin

The company is on the problem bank list, as it entered into a cease & desist order with the FDIC.  The were cited for engaging in unsafe and unsound lending practices and violations of the law!  The bank has inadequate management, capital and earnings as well as practicing hazardous lending. Maybe that is why the Texas ratio is 277%.

This bankster is not going hungrey

Do you think the Martin’s should be replaced?  It didn’t take long for the Martin’s to run this place into the ground.  Maybe the Martin’s should be in jail for hazardous lending practices and violations of the law!

This cat should be CEO, can’t dumber than the Martin’s


The bank has $507MM in assets and $20MM in equity.

The problem loan portfolio is staggering in relation to the equity position.  They have $67MM in bad loans with $52MM on non accrual.

With $99MM in problem loans and $17MM in equity, this place is bankrupt.

Why hasn’t this bank been shut down?

They are also under capitalized, with tier 1 risk based capitalization of 7.17%

For some reason they don’t want to post the financial statements on the website, I guess with numbers this bad, I wouldn’t either.

Are you letting the Martin’s have your money? They bankrupted this place

This is one of the worst banks in the country.

FEDERAL DEPOSIT INSURANCE CORPORATION
WASHINGTON, D.C.
_____________________________________
)
In the Matter of
GWINNETT COMMUNITY BANK
DULUTH, GEORGIA
(Insured State Nonmember Bank)
)
)
ORDER TO CEASE AND DESIST
FDIC-09-223b
)
)
)
)
_____________________________________ )
GWINNETT COMMUNITY BANK, DULUTH, GEORGIA (“Bank”), having been advised of its right to a NOTICE OF CHARGES AND OF HEARING detailing the unsafe or unsound banking practices and violations of law and/or regulations alleged to have been committed by the Bank and of its right to a hearing on the alleged charges under section 8(b)(1) of the Federal Deposit Insurance Act (“Act”), 12 U.S.C. § 1818(b)(1), and having waived those rights, entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER TO CEASE AND DESIST (“CONSENT AGREEMENT”) with a representative of the Legal Division of the Federal Deposit Insurance Corporation (“FDIC”) and the Commissioner (the “Commissioner”) for the State of Georgia, Department of Banking and Finance (the “Department”), dated August 28, 2009, whereby solely for the purpose of this proceeding and without admitting or denying the alleged charges of unsafe or unsound banking practices and violations of law and/or regulations, the Bank consented to the issuance of an ORDER TO CEASE AND DESIST (“ORDER”) by the FDIC and the Commissioner. The Commissioner may issue an order to cease and desist pursuant to Official Code of Georgia Annotated § 7-1-91 (1985).
The FDIC and the Commissioner considered the matter and determined that they have reason to believe that the Bank has engaged in unsafe or unsound banking practices and has
committed violations of law and/or regulations. The FDIC and the Commissioner, therefore, accepted the CONSENT AGREEMENT and issued the following:
ORDER TO CEASE AND DESIST
IT IS HEREBY ORDERED, that the Bank, its institution-affiliated parties, as such term is defined in section 3(u) of the Act, 12 U.S.C. § 1813(u), and its successors and assigns cease and desist from the following unsafe or unsound banking practices and violations of law and/or regulations:
(a) Operating with a board of directors (“Board”) that has failed to provide adequate supervision and direction to the management of the Bank;
(b) Operating with inadequate management whose polices and practices are detrimental to the Bank and jeopardize the safety of its deposits;
(c) Operating with inadequate equity capital in relation to the volume and quality of assets held by the Bank;
(d) Violating regulations described on pages 9 and 10 of the FDIC Report of Examination dated February 23, 2009 (“Report”);
(e) Operating with an excessive volume of adversely classified and special mention assets;
(f) Operating with an inadequate allowance for loan and lease losses (“ALLL”);
(g) Operating with an ineffective loan review and grading program;
(h) Operating with inadequate loan policies and following hazardous lending practices;
(i) Operating with inadequate liquidity and funds management in light of the Bank’s asset and liability mix;
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(j) Operating with a business strategy that has resulted in unprofitable operations and poor asset quality; and
(k) Operating with inadequate policies and procedures to monitor and control risks associated with concentrations of credit in the Bank’s loan portfolio.
IT IS FURTHER ORDERED, that the Bank, its institution-affiliated parties, and its successors and assigns take affirmative action as follows:
DIRECTORS
1. (a) Immediately upon the effective date of this ORDER, the Board shall increase its participation in the affairs of the Bank, assuming 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 meetings to be held no less frequently than monthly at which, at a minimum, the following areas shall be reviewed and approved: capital adequacy; liquidity; classified and criticized assets; reports of income and expenses; new, overdue, renewal, insider, charged-off, and recovered loans; investment activity; operating policies; and individual committee actions. Board minutes shall document these reviews and approvals, including the names of any dissenting directors.
(b) Within 30 days from the effective date of the 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. A majority of the members of the Directors’ Committee shall not be officers of the Bank. The Directors’ Committee shall receive from Bank management monthly reports regarding the Bank’s actions with respect to compliance with this ORDER. The Directors’ Committee shall present a report regarding the Bank’s adherence to the ORDER to the Board at each regularly scheduled Board meeting. Such report shall be recorded 3
in 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.
MANAGEMENT
2. Within 60 days from the effective date of this ORDER, the Bank shall have and retain qualified management.
(a) Each member of management shall have the qualifications and experience commensurate with his or her 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:
(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 sound banking practices;
(ii) A chief financial officer with demonstrated ability in all financial areas including but not limited to, accounting, regulatory reporting, budgeting and planning, management of the investment function, liquidity management and interest rate risk management; and
(iii) A senior lending officer with a significant amount of appropriate lending, collection, loan supervision and loan work-out experience for the type and quality of the Bank’s loans, and experience in upgrading a low quality loan portfolio.
(b) The qualifications of management shall be assessed on its ability to:
(i) Comply with the requirements of this ORDER;
(ii) Operate the Bank in a safe and sound manner;
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(iii) Comply with applicable laws and regulations; and
(iv) Restore all aspects of the Bank to a safe and sound condition, including, but not limited to, asset quality, capital adequacy, earnings, liquidity, management effectiveness, risk management, and sensitivity to market risk.
(c) During the life of this ORDER, the Bank shall provide written notice to the Regional Director (“Regional Director”) of the FDIC and the Commissioner (collectively, “Supervisory Authorities”) when it proposes to add any individual to the Bank’s Board or employ any individual as a senior executive officer as that term is defined in Part 303 of the FDIC’s Rules and Regulations, 12 C.F.R. § 303.101. The notification to the Supervisory Authorities shall comply with the requirements set forth in 12 C.F.R. Part 303, Subpart F. The notification should include a description of the background and experience of the individual or individuals to be added or employed and must be received at least 60 days before such addition or employment is intended to become effective. If the Regional Director issues a notice of disapproval pursuant to section 32 of the Act, 12 U.S.C. § 1831i, with respect to any proposed individual, then such individual may not be added or employed by the Bank.
CAPITAL
3. (a) Within 60 days from the effective date of this ORDER, the Bank shall develop and adopt a capital plan that requires the maintenance of Tier 1 capital in such an amount as to equal or exceed 8 percent of the Bank’s total assets and total risk-based capital in such an amount as to equal or exceed 10 percent of the Bank’s total risk-weighted assets. Thereafter, the Bank shall maintain Tier 1 capital and total risk based capital ratios equal to or exceeding 8 percent and 10 percent, respectively, during the life of this ORDER.
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(b) Within 30 days from the effective date of this ORDER, the Bank shall develop and adopt a plan to meet the minimum risk-based capital requirements for a well-capitalized bank, as described in the FDIC Statement of Policy on Risk-Based Capital contained in Appendix A to Part 325 of the FDIC’s Rules and Regulations, 12 C.F.R. Part 325, Appendix A. The Plan shall be in a form and manner acceptable to the Supervisory Authorities as determined at subsequent examinations and/or visitations.
(c) The level of Tier 1 capital and total risk-based capital to be maintained during the life of this ORDER pursuant to this paragraph shall be in addition to a fully funded ALLL, the adequacy of which shall be satisfactory to the Supervisory Authorities as determined at subsequent examinations and/or visitations.
(d) Any increase in Tier 1 capital and total risk based capital necessary to meet the requirements of this paragraph of the ORDER may not be accomplished through a deduction from the Bank’s ALLL. For purposes of this ORDER, the terms “Tier 1 capital”, “total risk based capital”, and “total assets” shall have the meaning ascribed to them in Part 325 of the FDIC’s Rules and Regulations, 12 C.F.R. Part 325.
DIVIDENDS
4. While this ORDER is in effect, the Bank shall not declare or pay any cash dividends without the prior written approval of the Supervisory Authorities.
REDUCTION OF CONCENTRATIONS OF CREDIT
5. 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 of the Report and any other concentration deemed important by the Bank. Concentrations should be identified by product type, geographic distribution, underlying collateral, or other asset
6
groups which are considered economically related and in the aggregate represent a large portion of the Bank’s Tier 1 Capital. A copy of this analysis shall be provided to the Supervisory Authorities. The Board shall develop a plan to reduce any segment of the portfolio which the Supervisory Authorities deem to be an undue concentration of credit in relation to the Bank’s Tier 1 Capital. The plan and its implementation shall be in a form and manner acceptable to the Supervisory Authorities.
CHARGE-OFF
6. (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” and 50 percent of all assets or portions of assets classified “Doubtful” in the Report that have not been previously collected or charged-off unless otherwise approved in writing by the Supervisory Authorities. If an asset classified “Doubtful” is a loan or lease, the Bank may, in the alternative, increase its ALLL by an amount equal to 50 percent of the loan or lease classified “Doubtful”. Elimination of any of these through proceeds of other loans made by the Bank is not considered collection by 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 entries, the remaining balance of any asset classified “Loss” and 50 percent of those classified “Doubtful” unless otherwise approved in writing by the Supervisory Authorities.
ALLOWANCE FOR LOAN AND LEASE LOSSES
7. Within 60 days from the effective date of this ORDER, the Board shall review the adequacy of the ALLL and ensure the Bank’s written policy for determining the adequacy of the ALLL is comprehensive. For the purpose of this determination, the adequacy of the ALLL shall
7
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 within 21 days of the end of each calendar quarter in order that the findings of the Board with respect to the ALLL may be properly reported in the quarterly 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. A deficiency in the ALLL shall be remedied in the calendar quarter it is discovered, prior to submitting the Reports of Condition and Income by a charge to the current operating earnings. The minutes of the Board 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.
REDUCTION OF ADVERSELY CLASSIFIED ASSETS
8. (a) Within 60 days from the effective date of this ORDER, the Bank shall formulate a written plan to reduce the Bank’s risk exposure in each asset, or relationship in excess of $750,000 classified “Substandard” or “Doubtful” in the Report. For purposes of this provision, “reduce” means to collect, charge off, or improve the quality of an asset so as to warrant its removal from adverse classification by the Supervisory Authorities. In developing the plan mandated by this paragraph, the Bank shall, at a minimum, and with respect to each adversely classified loan or lease, review, analyze, and document the financial position of the borrower, including source of repayment, repayment ability, and alternative repayment sources, as well as the value and accessibility of any pledged or assigned collateral, and any possible actions to improve the Bank’s collateral position.
8
(b) In addition, the plan mandated by this provision shall also include, but not be limited to, the following:
(i) A quarterly schedule for reducing the outstanding dollar amount of adversely classified assets including timeframes for achieving the reduced dollar amounts (at a minimum, the schedule for each adversely classified asset must show its expected dollar balance on a quarterly basis);
(ii) A schedule showing, on a quarterly basis, the expected consolidated balance of all adversely classified assets, and the ratio of the consolidated balance to the Bank’s projected Tier 1 capital plus the ALLL;
(iii) A provision for the Bank’s submission of monthly written progress reports to its Board; and
(iv) A provision mandating Board review of the progress reports, with a notation of the review recorded in the minutes of the meeting of the Board.
(c) The plan mandated by this provision shall further require a reduction in the aggregate balance of assets classified “Substandard” and “Doubtful” in the Report in accordance with the following schedule:
(i) Within 180 days, a reduction of twenty-five percent (25%) in the balance of assets classified “Substandard” or “Doubtful.”
(ii) Within 360 days, a reduction of forty-five percent (45) in the balance of assets classified “Substandard” or “Doubtful.”
(i) Within 540 days, a reduction of sixty-five percent (65%) in the balance of assets classified “Substandard” or “Doubtful.”
(ii) Within 720 days, a reduction of seventy-five percent (75%) in the balance of assets classified “Substandard” or “Doubtful.”
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(d) The requirements of this paragraph do not represent standards for future operations of the Bank. Following compliance with the above reduction schedule, the Bank shall continue to reduce the total volume of adversely classified assets. The plan may include a provision for increasing Tier 1 capital when necessary to achieve the prescribed ratio.
(e) Within 60 days of the effective date of this ORDER, the Bank shall submit the plan to the Supervisory Authorities for review and comment. Within 30 days from receipt of any comment from the Supervisory Authorities, and after due consideration of any recommended changes, the Bank shall approve the plan, which approval shall be recorded in the minutes of the Board meeting. Thereafter, the Bank shall implement and fully comply with the plan. Such plan shall be monitored and progress reports thereon shall be submitted to the Supervisory Authorities at 90-day intervals concurrently with the other reporting requirements set forth in this ORDER.
SPECIAL MENTION ASSETS
9. Within 60 days from the effective date of this ORDER, the Bank shall develop a plan to correct all deficiencies in the assets listed as “Special Mention”. The Bank shall immediately submit the plan to the Supervisory Authorities for review and comment. Within 30 days from receipt of any comment from the Supervisory Authorities, and after due consideration of any recommended changes, the Bank shall approve the plan, which approval shall be recorded in the minutes of the Board meeting. Thereafter, the Bank shall implement and fully comply with the plan.
RESTRICTIONS ON ADVANCES TO ADVERSELY CLASSIFIED BORROWERS
10. (a) While this ORDER is in effect, 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 or obligation with the Bank that has been, in whole or in part, charged off or classified “Loss” or “Doubtful” and is uncollected. The requirements of this paragraph shall not prohibit
10
the Bank from renewing, after collecting in cash all interest and fees due from a borrower, any credit already extended to the borrower.
(b) While this ORDER is in effect, the Bank shall not extend, directly or indirectly, any additional credit to, or for the benefit of, any borrower whose loans are adversely classified by the Supervisory Authorities as “Substandard” or “Special Mention” and is uncollected.
(c) Subparagraph 10(b) 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 extending additional credit pursuant to this subparagraph 10, whether in the form of a renewal, extension, or further advance of funds, such additional credit shall be approved by the Bank’s Board, or a designated committee thereof, who shall certify, in writing:
(i) Why failure of the Bank to extend such credit would be detrimental to the best interests of the Bank;
(ii) Why the extension of such credit would improve the Bank’s position, including an explanatory statement of how the Bank’s position would improve;
(iii) That an appropriate workout plan has been developed and will be implemented in conjunction with the additional credit to be extended; and
(iv) The signed certification shall be made a part of the minutes of the Board meeting, or designated committee, with a copy retained in the borrower’s credit file.
OTHER REAL ESTATE
11. (a) Within 60 days from the effective date of this ORDER, the Board shall develop a written policy for managing the Other Real Estate (“ORE”) of the Bank. At a minimum, the policy shall provide for:
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(i) review of the ORE portfolio, at least quarterly, by a committee appointed by the Board ;
(ii) documentation that taxes and insurance premiums are paid in a timely manner;
(iii) resolution of documentation exceptions;
(iv) realistic and comprehensive budget for each parcel with a book value in excess of $100,000 including projections of the Bank’s carrying costs (e.g., upkeep, repairs, and insurance costs) and projections of the marketing costs;
(v) independent appraisal of each parcel at the time of foreclosure and periodically thereafter (but no more than 12 months from the date of the prior appraisal report);
(vi) determination by the ORE committee that each parcel of ORE is listed with a real estate broker or otherwise made widely available for sale within an appropriate timeframe and at a realistic selling price;
(vii) periodic progress reports from each real estate broker marketing Bank ORE, including projected sales timeframes;
(viii) detailed report from the ORE committee to the Board at least quarterly, with a copy of the report, including documentation of the action taken to facilitate the timely sale of ORE, made part of the board minutes; and
(ix) requirements for accounting, documentation, resale terms and action plans for the orderly liquidation of ORE from the Bank’s books.
(b) The Bank shall submit the policy to the Supervisory Authorities for review and
12
comment. Within 30 days from receipt of any comment from the Supervisory Authorities and after due consideration of any recommended changes, the Bank shall approve the policy, which approval shall be recorded in the minutes of the board meeting. Thereafter, the Bank shall implement and fully comply with the policy.
VIOLATIONS OF REGULATION
12. Within 60 days from the effective date of this ORDER, the Bank shall eliminate and/or correct all violations of regulation, which are more fully set out on pages 9 and 10 of the Report. In addition, the Bank shall take all necessary steps to ensure future compliance with all applicable laws, regulations, statements of policy, and regulatory guidance.
LENDING AND COLLECTION POLICIES
13. (a) Within 60 days from the effective date of this ORDER, the Bank shall review, revise and implement its written lending and collection policy to provide effective guidance and control over the Bank’s lending function, including strengthening the underwriting, appraisal review, and loan-to-value reporting processes to conform with FDIC guidance and regulation. Such revised policies and their implementation shall address the criticisms enumerated on pages 7 and 8 of the Report and be in a form and manner acceptable to the Supervisory Authorities.
(b) The Board shall adopt procedures whereby officer compliance with the revised loan policy is monitored and responsibility for exceptions thereto assigned. 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.
LOAN REVIEW
14. Within 30 days from the effective date of the ORDER, the Board shall enhance its independent loan review program to provide for a periodic review of the Bank’s loan portfolio
13
and the identification and categorization of problem credits. At a minimum, the program shall provide for:
(a) Prompt identification of loans with credit weaknesses that warrant the special attention of management, including the name of the borrower, amount of the loan, reason why the loan warrants special attention, and assessment of the degree of risk that the loan will not be fully repaid according to its terms;
(b) Action plans to reduce the Bank’s risk exposure from each identified relationship;
(c) Prompt identification of all outstanding balances and commitments attributable to each obligor identified under the requirements of subparagraph 14(a), including outstanding balances and commitments attributable to related interests of such obligors, including the obligor of record, relationship to the primary obligor identified under subparagraph 14(a), and an assessment of the risk exposure from the aggregate relationship;
(d) Identification of trends affecting the quality of the loan portfolio, potential problem areas, and action plans to reduce the Bank’s risk exposure;
(e) Assessment of the overall quality of the loan portfolio;
(f) Identification of credit and collateral documentation exceptions including loan covenant exceptions, and action plans to address the identified deficiencies;
(g) Identification and status of violations of laws and/or regulations with respect to the lending function and an action plan to address the identified violations;
(h) Identification of loans that are not in conformance with the Bank’s lending policy and action plans to address the deficiencies; and
(i) A mechanism for reporting periodically, but in no event less than quarterly, the information developed in subparagraphs 14(a) through 14(h) above to the Board.
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The report should also describe the actions taken by management with respect to problem credits.
LIQUIDITY AND FUNDS MANAGEMENT
15. (a) Within 60 days from the effective date of this ORDER, management shall review and revise the Bank’s plan addressing liquidity, contingent funding, and asset liability management. A copy of the revised plan shall be submitted to the Supervisory Authorities upon its completion for their review and comment. Within 30 days from the receipt of any comments from the Supervisory Authorities, the Bank shall incorporate any recommended changes. Thereafter, the Bank shall implement and follow the plan. Annually during the life of this ORDER, the Bank shall review this plan for adequacy and, based upon such review, shall make appropriate revisions to the plan that are necessary to strengthen funds management procedures and maintain adequate provisions to meet the Bank’s liquidity needs.
(b) The initial plan shall include, at a minimum:
(i) A limitation on the ratio of the Bank’s total loans to assets;
(ii) A limitation of the ratio of the Bank’s total loans to funding liabilities;
(iii) Identification of a desirable range and measurement of dependence on non-core funding including brokered funds;
(iv) Establishment of lines of credit that would allow the Bank to borrow funds to meet depositor demands if the Bank’s other provisions for liquidity proved inadequate;
(v) A requirement for retention of sufficient investments that can be promptly liquidated to ensure the maintenance of the Bank’s liquidity posture at a level consistent with short-term and long-term objectives;
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(vi) Establishment of contingency plans to restore liquidity to that amount called for in the Bank’s liquidity policy; and
(vii) Establishment of limits for borrowing federal funds and other funds, including limits on dollar amounts, maturities, and specified sources/lenders.
PLAN FOR EXPENSES AND PROFITABILITY
16. (a) Within 60 days from the effective date of this ORDER, the Bank shall review and revised its written plan and a comprehensive budget for all categories of income and expense. The plan and budget required by this paragraph shall include formal goals and strategies, consistent with sound banking practices and taking into account the Bank’s other written policies, 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 projected balance sheet and 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 of each subsequent year. The plan and budget required by paragraph 16(a) of this ORDER shall be acceptable to the Supervisory Authorities as determined at subsequent examinations and/or visitations.
(b) Following the end of each calendar quarter, the Board shall evaluate the Bank’s actual performance in relation to the plan and budget required by paragraph 167(a) of 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.
LENDING PRACTICES
17. (a) Within 60 days from the effective date of this ORDER, the Bank shall submit to the Supervisory Authorities specific plans and proposals to effect the correction of all loan
16
underwriting, loan administration, and loan portfolio management weaknesses detailed in the Report. At a minimum, these plans and proposals shall incorporate procedures:
(i) to address all loan underwriting weaknesses detailed on pages 7 and 8 of the Report;
(ii) to address construction loan inspection and disbursement procedures;
(iii) to address the appropriate use of interest reserves;
(iv) to ensure proper financial analysis of potential and existing credit relationships, including the documentation of cash flow for the primary and secondary sources of repayment;
(v) to evaluate the Bank’s loan review and grading system and implement changes which shall:
a. ensure that loans are appropriately graded;
b. ensure that problem loans are accurately identified on a timely basis;
c. ensure that collateral and credit documentation deficiencies and policy exceptions are identified; and
d. ensure that the results of the loan review are communicated in writing to the Board and the Loan Committee;
(vi) to ensure that the bank’s assessment of the adequacy of capital and the ALLL appropriately considers the loan review and grading system;
(vii) to revise the loan policy to include risk limits for industry and individual concentrations and procedures for monitoring and reporting such;
(viii) to require strict guidelines for out-of-territory loans, which, at a minimum, include an aggregate limitation of such loans, require complete credit
17
documentation, and require approval by a majority of the Board prior to disbursement of funds, including a written explanation of why such loans are in the best interest of the Bank; and
(ix) to monitor officer compliance with the written loan policy and to assign responsibility for exceptions to the policy.
(b) Within 60 days from the effective date of this ORDER, the Bank shall review and revise its written loan policy to provide effective guidance, monitoring, and control over the Bank’s acquisition, development, and construction (“ADC”) lending function. The revised policy shall address the weaknesses related to the Bank’s ADC lending activities, as detailed in the Report. Also, the revised policy shall provide for a planned material reduction in the volume of funded and unfunded ADC loans as a percentage of Tier 1 capital. Such revised policy shall be provided to the Supervisory Authorities for review and approval prior to implementation, and its implementation shall be in a form and manner acceptable to the Supervisory Authorities as determined at subsequent examinations and/or visitations.
BROKERED DEPOSITS
18. (a) During the life of this ORDER, the Bank shall not accept, renew, or rollover brokered deposits without obtaining a brokered deposit waiver approved by the FDIC pursuant to section 29 of the Act, 12 U.S.C. § 1831f. Within 30 days of the effective date of this ORDER, the Bank shall submit to the Supervisory Authorities a written plan for eliminating its reliance on brokered deposits. The plan should contain details as the current composition of brokered deposits by maturity and explain the means by which such deposits will be paid or rolled over. The Supervisory Authorities shall have the right to reject the bank’s plan. On the twenty-fifth day of each month, the Bank shall provide a written progress report to the Supervisory Authorities detailing the level, source, and use of brokered deposits with specific reference to
18
progress under the Bank’s plan. For purposes of this ORDER, brokered deposits are defined as described in Section 337.6(a)(2) of the FDIC’s Rules and Regulations, 12 C.F.R. § 337.6(a)(2) to include any deposits funded by third party agents or nominees for depositors, including depositors managed by a trustee or custodian when each individual beneficial interest is entitled to a right to federal deposit insurance.
(b) The Bank shall comply with the restrictions on the effective yields on deposits described in 12 C.F.R. § 337.6(b)(4).
PROGRESS REPORTS
19. Within 30 days of the end of the first calendar quarter following the effective date of this ORDER, and within 30 days of the end of each calendar 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 Report of Condition and the Bank’s Report 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.
DISCLOSURE TO SHAREHOLDERS
20. Following the issuance of this ORDER, the Bank shall provide to its shareholders or otherwise furnish a description of this ORDER (i) in conjunction with the Bank’s next shareholder communication or (ii) in conjunction with its notice or proxy statement preceding the Bank’s next shareholder meeting. The description shall fully describe the 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 F-6066, Washington, D.C. 20429 and to the Commissioner, Georgia Department of Banking and Finance, 2990 Brandywine Road,
19
Suite 200, Atlanta, Georgia 30341-5565, to review at least twenty (20) days prior to dissemination to shareholders. Any changes requested to be made by the FDIC and the Department shall be made prior to dissemination of the description, communication, notice, or statement.
This ORDER shall become effective immediately upon the date of its issuance. The provisions of this ORDER shall remain effective and enforceable except to the extent that, and
until such time as, any provisions of this ORDER shall have been modified, terminated, suspended, or set aside in writing by the Supervisory Authorities.
Pursuant to delegated authority.
Dated this 31st day of August, 2009.
/s/
Doreen Eberley
Acting Regional Director
Division of Supervision and Consumer Protection
Atlanta Region
Federal Deposit Insurance Corporation
20
The Georgia Department of Banking and Finance (“Department”), 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 of August, 2009.
________________/s/_________________
Robert M. Braswell
Commissioner
Department of Banking and Finance
State of Georgia
21

First Chatham Bank Savannah Georgia

May 27, 2011

This slob is Steve Green, “the face  of trust”?

This guy lost $8,743,000 in Q4 2011

He wiped out 41% of the remaining equity in only 90 f$$cking days

This idiot is sitting on $65,000,000 in junk loans with only

He ran this place into the ground and got them on the problem bank list

Incompetant commercial real estate  lending, weakness in management

Steven Green is also on the under capitalized bank list

He has $52MM in bad loans and $24MM in capital, shocking!

First Chatham  Bank Savannah Georgia was founded in 2002.  The company is on the problem bank list, due incompetent commercial real estate lending.  They were cited for engaging in unsafe and unsound lending practices.  Also, they have weakness in management, asset quality, earnings.  Maybe that is why the Texas ratio is 107%.

When the first page on the website is real estate they have for sale, that could be a problem.

When the CEO Stephen Green owns Stephen Green Properties, there could be a conflict of interest here.

The bank is under capitalized with a tier 1 risk based capitalization of 7.15%

The company has $599MM in assets with $24MM in equity.

The problem loan portfolio in relation to the equity position is phenomenal.  They have $52MM in problem loans.

They have $52MM in problem loans with $24MM in equity.

Guess what, there is not equity.

This bank is insolvent.

Why isn’t this place shut down?

They lost $4MM in Q3 2011

Stephen is not showing the tax payer the Green.

Judging from the portfolio, he must have been dabbling in the green.

It didn’t take this management team long to wipe this thing out.

Do you have money in this bankrupt entity?

Landmark Bank Sarasota Florida

May 27, 2011

Not a bad looking banker

Landmark Bank Sarasota, Florida was founded in 2000.  They are on the problem bank list for negligent commercial real estate lending.  The Texas ratio is 269%, this place has problems.

The total Tier 1 risk based capital level is .63, that slightly below the 8% threshold.  Based on that capitalization level, this could be the worst bank in the country.

They have assets of $287MM with equity of $8MM.

The problem loan portfolio in relation to the equity position is phenomenal.  They have $41MM in non accrual loans.

They have $41MM in bad loans with $8MM in equity.

This place is insolvent.

Why hasn’t this bank been closed down?

Do you have money in this ticking time bomb?

It didn’t this management long to run this place into ground.

This place will be quite the landmark when they go bankrupt!

Citizens First National Bank Princeton Illinois

May 25, 2011

Take a look at the new site

capital2risk.com

Truly sad! I heard they are currently being sued. I read a previous lawsuit file of sexual misconduct going on within the bank….yikes! About ten years ago, a friend of mine said she saw a branch manager and teller having sex on a desk before the branch opened for the day. Maybe instead of “chasing tail” they should be covering their “assets.”

Here is Tony Sorcic he wiped out this bank and killed this town, he should be in jail 

Here he is as a kid, same haircut, Our Gang

Here is Tony burying the investors money in the ground

When is the FDIC going to stop by Tom?

It looks like there is a run on this bank, George Bailey would be proud

Tom Ogaard makes $319,000 a year, the average per capita in this town is $20,000

If you see Tom around town , ask him for the $25,000,000 and how about the interest”

Tom Ogaard has stolen your money long enough

Do you have money in this place?

The FDIC is bankrupt

Take a look at that joker on the left, that is Tom Ogaard he took $25,000,000 in tax payer money which he can’t pay back

Tom hasn’t even pay interest on your money since 11/10

Don’t worry Tom gets paid $319,000 a year 

Tom made $132,000,000 in bad loans

The stock is delisted, check out the 8-K

Do you have money in this disaster?

Hopefully your bank is not on the Capital2risk list

This is Tony Sorcic, this is the criminal who bankrupted this place

Who does his hair?

You will be looking like these guys, deer in the headlights.

Check out capital2risk, you will see the rest of the banks that stole your money

How about starting a run on this bank!

OCCUPY CITIZENS FIRST NATIONAL BANK PRINCETON ILLINOIS!

Go to the bank and ask Tom Ogaard where is  your $25,000,000  that he stole

How about if Tom starts paying interest on the money he took, lets start with $319,000 that he pays himself

He makes $319,000 he is the 1%.

The median per capita  income in Princeton is $20,000

Tom Ogaard pays himself $319,000 to bankrupt the local bank.

Most people on Wall Street don’t make $319,000

Tom Ogaard  gets paid $150 an hour to run the local bank into the ground

Tom bankrupted a 146 year old bank, this bank survived the great depression but it won’t survive Tom Ogaard!

He also got this place on the problem bank list

Why the hell are they giving this clown and award?

This is now the 2nd worst bank in the state the Texas ratio has increased to 122%

Tom lost another $18,000,000 in Q3 2011, he wiped 25% of the equity in 90 days

Q4 will interesting

Where is Tom’s left hand? Hopefully not where I think it is

This guy makes $319,000 a year and he gives this heifer a clock , at the BEEF and Ag

Citizens First National Bank Princeton Illinois was founded in 1865.  The company took $25MM in tax payer funded bailout money which it has decided to not repay.  Then again, they stopped paying interest on these funds on 11/10.  Not bad, when a bank doesn’t pay interest on money they borrowed.  Why can’t the tax payer do that? The company is on the problem bank list, shocking!  The Texas ratio is 92%, this place is history.

The bank has $1B in assets with $56MM in stated equity.

The actual equity is $31MM, as the so called preferred stock provided by the tax payer is debt not equity.

The problem loan situation is incredible.  They have $132MM in problem loans, $102MM of which are on non accrual.

They have $31MM in equity with $132MM bad loans.

Tom is giving out clocks, his time is running out

Take a look, Tom has bigger breasts than the guy he is giving the clock to

Hold on, Tom is giving another clock way, this guy steals $25,000,000 from the tax payer and he gives you a clock

It might be time to convict Tom

Have you seen this guy around town

This is Todd Fanning he makes $192,000 a year, wonder why he has no hair?

He might be bald but at least he has pubic hair on his face  

It would take the average person in this town 10 years to make what Todd makes in one year!

How many people in this town make $192,000 a year

If you see Todd around town, ask him for the $25,000,000 of your tax payer $$$ he took.

This thing is beyond bankrupt!

Why hasn’t this bank been shut down.

Net income was ($18MM) in FY10 and ($22MM) in FY09

So how are they going to pay back the $25MM, they took from the tax payer. That is not going to happen.

Luckily the executive compensation wasn’t effected, as they ran this place into ruin.

Thomas Ogaard      made $319k

James Miller            made $194

Todd Fanning         made  $192

That’s good pay for destroying a 146 year old bank

Funny, how they don’t publish the financial statements on the website? Probably busy making bad loans.

It’s public information, not hard to find.


Premier Bank Tallahassee Florida

May 19, 2011

Check out the new site

capital2risk.com

Here is Matt Brown, CEO

Matt took $10,000,000 of your money which he won’t pay back

Matt’s bank is on the problem bank list

This clown lost $10,343,000 in Q4 2011

Why does is Matt bald? Because he wipe out 90% of the equity in 90 days

How is that for Premier

This guy should be in jail

How is this dope going to pay back the $10,000,000 he stole from the tax payer?



This place took $10MM in tax payer money which it can’t pay back

This is Linda Plamer the CFO

Linda F$$cked the tax payer out of $10,000,000

They are on the problem bank list

Don’t worry, the $10MM is only monopoly money, they can’t pay it back

This is Al Basford Commercial Lender

This Idiot made $35,000,000 in junk loans

Hold on, they have $48MM in problem loans, $9MM in supposed equity and they owe the tax payer $10MM, go directly to park place

Premier Bank Tallahassee Florida was founded in 1995.  The company took $10MM in tax payer funding, which they have decided to not give back.  The company is on the problem bank list.  They were cited for weakness in management, capital, earnings and liquidity.  The Texas ratio is an incredible 119%.

Take a look at the real estate for sale on the website, this place likes to finance vacant land.  That could be due to the weakness in management cited by the Feds.

That is a Premier bank.

Commercial Lenders

They have $357MM in assets with $19MM in stated equity.

The actual equity is $9MM, as the $10MM in tax payer funds is debt not equity.

The bank has $48MM in problem loans, $42MM of which is on non accrual.

The company has $48MM in bad loans with only $9MM in equity.

That is not Premier.

This place is bankrupt

Why hasn’t it been shut down.

This place is a disaster.

Do you have money in this place?

1
FEDERAL DEPOSIT INSURANCE CORPORATION
WASHINGTON, D.C.
STATE OF FLORIDA OFFICE OF FINANCIAL REGULATION TALLAHASSEE, FLORIDA
In the Matter of
PREMIER BANK
TALLAHASSEE, FLORIDA
(Insured State Nonmember Bank)
))))))))))
CONSENT ORDER
FDIC-10-074b
OFR 0722 -FI-02/10
The Federal Deposit Insurance Corporation (“FDIC”) is the appropriate Federal
banking agency for Premier Bank, Tallahassee, Florida (“Bank”), under 12 U.S.C. §
1813(q).
The Bank, by and through its duly elected and acting Board of Directors
(“Board”), has executed a “Stipulation to the Issuance of a Consent Order”
(“STIPULATION”), dated May 4, 2010, that is accepted by the FDIC and the Florida
Office of Financial Regulation (“OFR”). The OFR may issue an order pursuant to
Chapter 120 and Section 655.033, Florida Statutes (2009).
With this Stipulation, the Bank has consented, without admitting or denying any
charges of unsafe or unsound banking practices or violations of law and/or regulation
relating to weaknesses in asset quality, earnings, management, capital, liquidity, and
2
sensitivity to market risk, to the issuance of this Consent Order (“ORDER”) by the FDIC
and the OFR.
Having determined that the requirements for issuance of an order under 12 U.S.C.
§ 1818(b) and under Chapter 120 and Section 655.033, Florida Statutes have been
satisfied, the FDIC and the OFR hereby order that:
BOARD OF DIRECTORS
1. Beginning with the effective date of this ORDER, the Board shall increase its
participation in the affairs of the Bank, assuming 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. The Board shall prepare in advance and follow a detailed written
agenda for each meeting, including consideration of the actions of any committees.
Nothing in the foregoing sentences shall preclude the Board from considering matters
other than those contained in the agenda. This participation shall include meetings to be
held no less frequently than monthly at which, at a minimum, the following areas shall be
reviewed and approved: reports of income and expenses; new, overdue, renewal, insider,
charged-off, and recovered loans; investment activity; operating policies; and individual
committee actions. Board minutes shall document these reviews and approvals,
including the names of any dissenting directors.
COMPLIANCE WITH ORDER
2. 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. Three of the members of the
3
Directors’ Committee shall not be officers of the Bank. The Directors’ Committee shall
receive from Bank management monthly reports detailing the Bank’s actions with respect
to compliance with the ORDER. The Directors’ Committee shall present a report
detailing the Bank’s adherence to the ORDER to the Board at each regularly scheduled
Board meeting. 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.
MANAGEMENT
3. (a) Within 60 days from the effective date of this ORDER, the Bank shall
develop and approve a written analysis and assessment of the Bank’s management and
staffing needs (“Management Plan”). The Management Plan shall include, at a
minimum: (i) identification of both the type and number of officer positions
needed to properly manage and supervise the affairs of the Bank;
(ii) identification and establishment of such Bank committees as are
needed to provide guidance and oversight to active management;
(iii) annual written evaluations of all Bank officers, and staff members
to determine whether these individuals possess the ability, experience and other qualifications required to perform present and anticipated duties,
including, but not limited to, adherence to the Bank’s established policies
and practices, and restoration and maintenance of the Bank in a safe and
sound condition;
4
(iv) a plan to recruit and hire any additional or replacement personnel
with the requisite ability, experience and other qualifications to fill those
officer or staff member positions consistent with the needs identified in
the Management Plan; and
(v) an organizational chart.
(b) Such Management Plan and its implementation shall be satisfactory to the Regional Director of the FDIC’s Atlanta Regional Office (“Regional Director”) and the
OFR (collectively, “Supervisory Authorities”).
(c) Within 90 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 Bank’s 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 sound banking practices;
(ii) a senior credit 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 financial officer with a demonstrated ability in all financial
areas, including but not limited to, accounting, regulatory reporting,
5
budgeting and planning, management of the investment function, liquidity
management and interest rate risk management.
(d) The qualifications of management shall be assessed 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
(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.
(e) During the life of this ORDER, the Bank shall notify the 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, or executive officer as that
term is defined in Subpart F of Part 303 of the FDIC Rules and Regulations, 12 C.F.R. §
303.101 and Section 655.005, Florida Statutes, the Bank shall comply with the
requirements of Section 32 of the Act, 12 U.S.C. § 1831i, and Subpart F of Part 303 of
the FDIC Rules and Regulations, 12 C.F.R. §§ 303.100-303.104; and Section 655.0385,
Florida Statutes, and Rule 69U-100.03852 Florida Administrative Code.
CAPITAL
4. (a) Within 90 days from the effective date of the ORDER, the Bank shall
achieve and maintain the following minimum capital levels as defined in Part 325 of the
6
FDIC Rules and Regulations, 12 C.F.R. Part 325, after establishing an adequate
allowance for loan and lease losses (“ALLL”):
(i) Tier 1 capital at least equal to eight (8.0%) percent of total assets;
and
(ii) Total risk-based capital at least equal to twelve (12.0%) percent of
total risk-weighted assets.
(b) Thereafter during the life of this ORDER, the Bank shall maintain Tier 1
capital in such an amount as to equal or exceed eight (8%) percent of the Bank’s total
assets; and a Total risk-based capital ratio of at least twelve (12%) percent as those risk
based capital ratios are described in the FDIC Statement of Policy on Risk-Based Capital
contained in Appendix A to Part 325 of the FDIC Rules and Regulations, 12 C.F.R. Part
325, Appendix A.
(c) Within 30 days of the last day of each calendar quarter, the Bank shall
determine, from its Reports of Condition and Income, its capital ratios for that calendar
quarter. If any capital measure falls below the established minimum, within 30 days of
such required determination of capital ratios, the Bank shall submit a written plan to the
Supervisory Authorities, describing the means and timing by which the Bank shall
increase such ratios up to or in excess of the established minimum.
(d) The level of Tier 1 Capital to be maintained during the life of this ORDER
pursuant to paragraph 4(b) shall be in addition to a fully funded ALLL, the adequacy of
which shall be satisfactory to the Supervisory Authorities as determined at subsequent
examinations and/or visitations.
7
(e) Any increase in Tier 1 Capital necessary to meet the requirements of
paragraphs 4(a) and 4(b) of this ORDER may be accomplished by the following:
(iii) sale of common stock; or
(iv) sale of noncumulative perpetual preferred stock; or
(v) direct contribution of cash by the Board, shareholders, and/or
parent holding company; or
(vi) any other means acceptable to the Supervisory Authorities; or
(vii) any combination of the above means.
Any increase in Tier 1 Capital necessary to meet the requirements of paragraphs 4(a) and
4(b) of this ORDER may not be accomplished through a deduction from the Bank’s
ALLL.
(f) If all or part of any necessary increase in Tier 1 Capital required by
paragraphs 4(a) and 4(b) of this ORDER is accomplished by the sale of new securities,
the Board shall forthwith take all necessary steps to adopt and implement a plan for the
sale of such additional securities, including the voting of any shares owned or proxies
held or controlled by them in favor of the plan. Should the implementation of the plan
involve a public distribution of the Bank’s securities (including a distribution limited only
to the Bank’s existing shareholders), the Bank shall prepare offering materials fully
describing the securities being offered, including an accurate description of the financial
condition of the Bank and the circumstances giving rise to the offering, and any other
material disclosures necessary to comply with the Federal securities laws. Prior to the
implementation of the plan and, in any event, not less than fifteen (15) days prior to the
dissemination of such materials, the plan and any materials used in the sale of the
8
securities shall be submitted to the FDIC, Division of Supervision and Consumer
Protection, Accounting and Securities Disclosure Section, 550 17th Street, N.W., Room
F-6066, Washington, D.C. 20429 and the Office of Financial Regulation, Division of
Financial Institutions, 200 East Gaines Street, Tallahassee, Florida 32399-0371, for
review. Any changes requested to be made in the plan or materials by the FDIC or the
OFR shall be made prior to their dissemination. If the increase in Tier 1 Capital is
provided by the sale of noncumulative perpetual preferred stock, then all terms and
conditions of the issue, including but not limited to those terms and conditions relative to
interest rate and convertibility factor, shall be presented to the Supervisory Authorities
for prior approval.
(g) In complying with the provisions of Paragraphs 4(a) and 4(b) of this
ORDER, the Bank shall provide to any subscriber and/or purchaser of the Bank’s
securities, a written notice of any planned or existing development or other changes
which are materially different from the information reflected in any offering materials
used in connection with the sale of Bank securities. The written notice required by this
paragraph shall be furnished within ten (10) days from the date such material
development or change was planned or occurred, whichever is earlier, and shall be
furnished to every subscriber and/or purchaser of the Bank’s securities who received or
was tendered the information contained in the Bank’s original offering materials.
(h) For the purposes of this ORDER, the terms “Tier 1 Capital” and “total
assets” shall have the meanings ascribed to them in Part 325 of the FDIC Rules and
Regulations, 12 C.F.R. Part 325.
9
CHARGE-OFF
5. (a) Within 30 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” and 50 percent of those assets classified “Doubtful” in the FDIC Report
of Examination dated October 13, 2009 (“Report”) that have not been previously
collected or charged-off. (If an asset classified “Doubtful” is a loan or lease, the Bank
may, in the alternative, increase its ALLL by an amount equal to 50 percent of the loan or
lease classified “Doubtful”.)
(b) Additionally, while this ORDER remains in effect, the Bank shall, within
30 days from the receipt of any official Report of Examination of the Bank from the
FDIC or the OFR, eliminate from its books, by collection, charge-off, or other proper
entries, the remaining balance of any asset classified “Loss” and 50 percent of the those
classified “Doubtful” unless otherwise approved in writing by the Supervisory
Authorities.
RESTRICTIONS ON CERTAIN PAYMENTS
6. (a) While this ORDER is in effect, the Bank shall not declare or pay
dividends or bonuses 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 (at least 5 days with respect to any request
filed within the first 30 days after 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.
10
(b) During the term of this ORDER, the Bank shall not make any distributions
of interest, principal or other sums on subordinated debentures, if any, without the prior
written approval of the Regional Director.
ALLOWANCE FOR LOAN AND LEASE LOSSES
7. (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, is underfunded
as set forth on page 2 of the Report.
(b) Within 30 days from the effective date of this ORDER, the Board shall
review the adequacy of the ALLL and establish 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 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 nonaccrual
loans, an estimate of potential loss exposure of significant credits, concentrations
of credit, and present and prospective economic conditions. A deficiency in the ALLL
shall be remedied in the calendar quarter it is discovered, prior to submitting the Reports
of Condition and Income, by a charge to current operating earnings. The minutes of the
Board 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.
11
BROKERED DEPOSITS
8. (a) Throughout the effective life of this ORDER, the Bank shall not accept,
renew, or rollover any brokered deposit, as defined by 12 C.F.R. § 337.6(a)(2), unless it
is in compliance with the requirements of 12 C.F.R. § 337.6(b), governing solicitation
and acceptance of brokered deposits by insured depository institutions.
(b) The Bank shall comply with the restrictions on the effective yields on
deposits as described in 12 CFR § 337.6.
FUNDS MANAGEMENT PLAN
9. (a) Annually during the life of this ORDER, the Bank shall review its written
plan addressing liquidity, contingent funding, and asset liability management for
adequacy and, based upon such review, shall make appropriate revisions, if any, to the
plan that are necessary to strengthen funds management procedures and maintain
adequate provisions to meet the Bank’s liquidity needs.
(b) The Bank’s plan shall include, at a minimum: (i) a limitation on the ratio of the Bank’s total loans to assets;
(ii) identification of a desirable range and measurement of dependence
on non-core funding;
(iii) establishment of lines of credit that would allow the Bank to
borrow funds to meet depositor demands if the Bank’s other provisions for
liquidity proved inadequate;
(iv) a requirement for retention of sufficient investments that can be
promptly liquidated to ensure the maintenance of the Bank’s liquidity
posture at a level consistent with short-term and long-term objectives;
12
(v) establishment of contingency plans to restore liquidity to that amount called for in the Bank’s liquidity policy; and
(vi) establishment of limits for borrowing federal funds and other
funds, including limits on dollar amounts, maturities, and specified
sources/lenders.
REDUCTION OF CLASSIFIED ITEMS
10 . (a) Within 60 days from the effective date of this ORDER, the Bank shall
formulate a written plan to reduce the Bank’s risk exposure in each asset in excess of
$500,000 classified as “Substandard” or “Doubtful” in the Report. In developing the plan
mandated by this paragraph, the Bank shall, at a minimum, with respect to each adversely
classified loan, review, analyze, and document the financial position of the borrower,
including source of repayment, repayment ability, and alternative repayment sources, as
well as the value and accessibility of any pledged or assigned collateral, and any possible
actions to improve the Bank’s collateral position.
(b) Within 60 days from the effective date of this ORDER, the Bank shall
formulate a written plan to reduce the aggregate balance of assets classified
“Substandard” and “Doubtful” in the Report in accordance with the following schedule:
(i) within 90 days from the effective date of this ORDER, the Bank
shall have reduced the items classified “Substandard” or “Doubtful” in the
Report by ten percent (10.0%);
(ii) within 180 days from the effective date of this ORDER, the Bank
shall have reduced the items classified “Substandard” or “Doubtful” in the
Report by twenty percent (20.0%);
13
(iii) within 270 days from the effective date of this ORDER, the Bank
shall have reduced the items classified “Substandard” or “Doubtful” in the
Report by thirty percent (30.0%); and
(iv) within 360 days from the effective date of this Order, the Bank
shall have reduced the items classified “Substandard” or “Doubtful” in the
Report by forty-five percent (45.0%).
(c) Within 60 days from the effective date of this ORDER, the Bank shall
submit the plans required in paragraphs 10(a) and 10(b) to the Supervisory Authorities
for review and comment. Within 30 days from the receipt of any comment from the
Supervisory Authorities, and after due consideration of any recommended changes, the
Bank shall approve the plans, which approval shall be recorded in the minutes of the
meeting of the Board. Thereafter, the Bank shall implement and fully comply with the
plans. Such plans shall be monitored and progress reports thereon shall be submitted to the Supervisory Authorities at 90-day intervals concurrently with the other reporting
requirements set forth in paragraph 23 of this ORDER.
(d) The requirements of this paragraph are not to be construed as standards for
future operations and following compliance with the above reduction schedule, the Bank
shall continue to reduce the total volume of adversely classified assets. As used in
subparagraphs 10(a) and 10(b) the word “reduce” means:
(i) to collect;
(ii) to charge-off; or
(iii) to sufficiently improve the quality of assets adversely classified to
warrant removing any adverse classification, as determined by the
14
Supervisory Authorities.
NO ADDITIONAL CREDIT TO CERTAIN BORROWERS
11. (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 (after collection
in cash of interest due from the borrower) any credit already extended to any 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”, or is listed for “Special Mention” and is uncollected.
(c) Paragraph 11(b) 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 extending of any additional credit pursuant to this paragraph, either in the
form of a renewal, 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 as follows:
(i) why the failure of the Bank to extend such credit would be
detrimental to the best interests of the Bank;
(ii) that the Bank’s position would be improved thereby; and
(iii) how the Bank’s position would be improved.
15
(d) The signed certification shall be made a part of the minutes of the Board
or its designated committee and a copy of the signed certification shall be retained in the
borrower’s credit file.
SPECIAL MENTION
12. Within 60 days from the effective date of this ORDER, the Bank shall develop
and submit to Supervisory Authorities for review and comment a plan to correct the cited
deficiencies in the loans listed for “Special Mention” in the Report. Within 30 days from receipt of any comment from the Supervisory Authorities, and after due consideration of
any recommended changes, the Bank shall approve the plan, which approval shall be
recorded in the minutes of the Board meeting. Thereafter, the Bank shall implement and
fully comply with the plan
CONCENTRATIONS OF CREDIT
13. Within 60 days from the effective date of this ORDER, the Bank shall perform a
risk segmentation analysis with respect to the commercial real estate concentrations of
credit listed on the Concentrations page of the Report. The Bank should refer to the
Financial Institution Letter 104-2006 dated December 12, 2006, entitled Concentrations
in Commercial Real Estate Lending, Sound Risk Management Practices, for information
regarding risk segmentation analysis. A copy of this analysis shall be provided to the
Supervisory Authorities. The Bank agrees to develop a plan to reduce any segment of the
portfolio which the Supervisory Authorities deem to be an undue concentration of credit
in relation to the Bank’s capital account. The plan and its implementation shall be in a
form and manner acceptable to the Supervisory Authorities as determined at subsequent
examinations and/or visitations.
16
LENDING AND COLLECTION POLICIES
14. (a) Within 60 days from the effective date of this ORDER, the Bank shall
develop, revise, adopt, and implement written lending and collection policies to provide
effective guidance and control over the Bank’s lending function. Such policies and their
implementation shall be in a form and manner acceptable to the Supervisory Authorities.
(b) The initial revisions to the Bank’s loan policy and practices, required by
this paragraph, at a minimum, shall include the following:
(i) revisions to address criticisms and recommendations enumerated
on pages 7-8 of the Report;
(ii) provisions, consistent with FDIC instructions for the preparation of
Reports of Condition and of Income, under which the accrual of interest
income is discontinued and previously accrued interest is reversed on
delinquent loans; and
(iii) provisions which require complete loan documentation, realistic
repayment terms, and current credit information adequate to support the
outstanding indebtedness of the borrower. Such documentation shall
include current financial information, profit and loss statements or copies
of tax returns and cash flow projections.
(c) The Board shall adopt procedures whereby officer compliance with the
revised loan policy is monitored and responsibility for exceptions thereto assigned. 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.
17
INTERNAL LOAN REVIEW
15. Within 60 days from the effective date of this ORDER, the Bank shall adopt an
effective internal loan review and grading system to provide for the periodic review of
the Bank’s loan portfolio in order to identify and categorize the Bank’s loans, and other
extensions of credit which are carried on the Bank’s books as loans, on the basis of credit
quality. Such system and its implementation shall be satisfactory to the Supervisory
Authorities as determined at their initial review and at subsequent examinations and/or
visitations. At a minimum, the grading system shall provide for the following:
(a) specification of standards and criteria for assessing the credit quality of the
Bank’s loans;
(b) application of loan grading standards and criteria to the Bank’s loan
portfolio;
(c) categorization of the Bank’s loans into groupings based on the varying
degrees of credit and other risks that may be presented under the applicable grading
standards and criteria, but in no case, will a loan be assigned a rating higher than that
assigned by examiners at the last examination of the Bank without prior written
notification to the Supervisory Authorities; (d) identification of any loan that is not in conformance with the Bank’s loan
policy; and
(e) requirement of a written report to be made to the Board and audit
committee, not less than quarterly after the effective date of this ORDER. The report
shall identify the status of those loans that exhibit credit and other risks under the
18
applicable grading standards/criteria and the prospects for full collection and/or
strengthening of the quality of any such loans.
STRATEGIC PLAN
16. (a) Within 90 days from the effective date of this ORDER, the Bank shall
prepare and submit to the Supervisory Authorities for review and comment an update to
the Bank’s existing 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. Such plan shall specifically provide for the
following:
(i) goals for the composition of the loan portfolio by loan type
including strategies to diversify the type and improve the quality of loans
held;
(ii) goals for the composition of the deposit base including strategies to
reduce reliance on volatile and costly deposits; and
(iii) plans for effective risk management and collection practices.
(b) Within 30 days from the receipt of any comments from the Supervisory
Authorities, and after due consideration of any recommended changes, the Board shall
approve the business/strategic plan, which approval shall be recorded in the minutes of a
Board meeting.
19
PROFIT PLAN
17. (a) Within 90 days from the effective date of this ORDER, the Bank shall
formulate and implement a written plan to improve and/or sustain Bank earnings. This
plan shall be forwarded to the Supervisory Authorities for review and comment and shall
address, at a minimum, the following:
(i) goals and strategies for improving and sustaining the earnings of
the Bank;
(ii) the major areas in, and means by which the Bank will seek to
improve the Bank’s operating performance;
(iii) realistic and comprehensive budgets;
(iv) a budget review process to monitor the income and expenses of the
Bank to compare actual figures with budgetary projections;
(v) the operating assumptions that form the basis for, and adequately
support, major projected income and expense components; and
(vi) coordination of the Bank’s loan, investment, and operating policies
and budget and profit planning with the funds management policy.
(b) Following the end of each calendar quarter, the Board shall evaluate the
Bank’s actual performance in relation to the plan required by this paragraph 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.
(c) Thereafter, the Bank shall formulate such a plan and budget by November
30 of each subsequent year. These plans and budgets shall be submitted to the
20
Supervisory Authorities for review and comment by December 15 of each subsequent
year.
INTEREST RATE RISK MANAGEMENT
18. Within 60 days from the effective date of this ORDER, the Bank shall develop
and implement a written policy for managing interest rate risk in a manner that is
appropriate to the size of the Bank and the complexity of its assets. The policy shall
comply with the Joint Agency Policy Statement on Interest Rate Risk and Financial
Institution Letter 02-2010 entitled Financial Institution Management of Interest Rate
Risk, 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 provision for periodic reporting to
management and the Board regarding interest rate risk with adequate information
provided to assess the level of risk. Such policy and its implementation shall be
satisfactory to the Supervisory Authorities.
VIOLATIONS OF LAWS AND REGULATIONS
19. Within 60 days from the effective date of this ORDER, the Bank shall eliminate
and/or correct all violations of law and regulation, which are more fully set out in the
Report. In addition, the Bank shall take all necessary steps to ensure future compliance
with all applicable laws and regulations.
CONFLICTS OF INTEREST
20. Within 30 days from the effective date of this ORDER, the Bank shall develop,
adopt, and implement written policies and procedures designed to bring to the attention of
each member of the Board conflicts of interest which may exist in approving loans or
21
other transactions in which officers, directors or principal shareholders of the Bank
(“Insiders”) are involved. Such policies and procedures shall, at a minimum, ensure that
each member of the Board has been apprised of any potential conflict prior to making a
decision, or acting specifically on any loan or other transaction in which Insiders and/or
their business associates are, directly or indirectly, involved. The results of any
deliberations by the Board regarding potential conflicts shall be reflected in the minutes
of its meetings.
NO MATERIAL GROWTH WITHOUT NOTICE
21. While this ORDER is in effect, the Bank shall notify the Supervisory Authorities
at least 60 days prior to undertaking asset growth to 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.
DISCLOSURE
22. Following the effective date of this ORDER, the Bank shall send to its shareholders
or otherwise furnish a description of this ORDER in conjunction with the Bank’s next
shareholder communication and also in conjunction with its notice or proxy statement
preceding the Bank’s next shareholder meeting. The description shall fully describe the
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
Compliance, Accounting and Securities Disclosure Section, 550 17th Street, N.W., Room
F-6066, Washington, D.C. 20429 and to the OFR, Division of Financial Institutions, 200
East Gaines Street, Tallahassee, FL 32399-0371, at least fifteen (15) days prior to
22
dissemination to shareholders. Any changes requested to be made by the FDIC and the
OFR shall be made prior to dissemination of the description, communication, notice, or
statement.
PROGRESS REPORTS
23. (a) Within 45 days from the end of the first quarter following the effective
date of this ORDER, and within 45 days of 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 Reports of Condition and
Income.
(b) 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.
(c) All progress reports and other written responses to this ORDER shall be
reviewed by the Board and made a part of the minutes of the appropriate Board meeting.
The provisions of this ORDER shall not bar, estop, or otherwise prevent the
FDIC, the OFR, 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 institutionaffiliated
parties, and any successors and assigns thereof.
23
The provisions of this ORDER shall remain effective and enforceable except to
the extent that, and until such time as, any provisions of this ORDER shall have been
modified, terminated, suspended, or set aside in writing.
Issued Pursuant to Delegated Authority.
Dated this 5th day of May, 2010.
/s/
By: ________________________
Thomas J. Dujenski
Regional Director
Division of Supervision and Consumer Protection
Atlanta Region
Federal Deposit Insurance Corporation
The Commissioner of the OFR 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 OFR to the same degree and to the same legal effect
that such ORDER would be binding if the OFR had issued a separate ORDER that
included and incorporated all of the provisions of the foregoing ORDER, pursuant to
Chapters 120, 655, and 658, Florida Statutes (2009), including specifically Sections
655.033 and 655.041, Florida Statutes.
Dated this 4th day of May, 2010.
/s/ _______________________________ Linda B. Charity
Director Division of Financial Institutions
Office of Financial Regulation
By Delegated Authority for the Commissioner, Office of Financial Regulation

 


Property Type: Select Property Type AcreageCommercialCommercial – LotResidential – LotResidential – Single Family

$450,000.00Contact:Brice Pelfrey
Tallahassee Land Company
850-385-6363
bpelfrey@tlhland.com
CommercialLocation:
1221, 1223, 1227, 1231 E Lafayette St
Tallahassee, FL 32301
Lafayette Retail Center; includes 1221, 1223, 1227 & 1231 East Lafayette St. Strip center located in very busy part of town, just off of Apalachee Pkwy and Magnolia. Strong tenant, over 40 years in location.

$575,000.00Contact:Ed Murray
Talcor
(850) 224-2300
murray@talcor.com
CommercialLocation:
201 S MONROE ST
Tallahassee, FL 32301
3,150 square foot penthouse office condo for sale in this historic property located one block from the State Capitol. Excellent frontage and street presence. Located on the east side of South Monroe Street, north of Calhoun Street and south of East College Avenue.

$70,000.00Contact:Brice Pelfrey
Tallahassee Land Company
850-385-6363
bpelfrey@tlhland.com
Commercial – LotLocation:
XXX Garrett Lane
Havana, FL 32333
Great commercial lot in Gadsden County just off of HWY 27 and only minutes off of I-10. Other regional contractors and businesses operate from this accessible location.

$115,000.00Contact:Premier Bank
(850) 386-4726
(850) 386-2225
realestate@premier-bank.com
Commercial – LotLocation:
Commonwealth Ln
Tallahassee, FL 32303-3196
COMMONWEALTH OFFICE PARK: Superb commercial lot in Tallahassee’s premier office park. Private and governmental offices, distribution, manufacturing, great infrastructure and immediate access to Interstate 10.

$499,000.00Contact:Ben Wilkinson
Tallahassee Land Company
(850) 385-6363
BenW@tlhland.com
Commercial – LotLocation:
1907 Miccosukee Rd
Tallahassee, FL 32303
1907 MICCOSSUKEE ROAD: Finished office site ready for construction! Parking, storm water, curb and gutter, sidewalks, are all complete.

$80,000.00Contact:Jason Naumann
Naumann Real Estate
(850) 325-1681
jason@naumangroup.com
Residential – Single FamilyLocation:
540 McNair Road
Havana, FL 32333
Investment or starter home in the country east of Havana. 3 bedroom, 2 bath home with garage on .81 large acre lot.

$87,000.00Contact:Brice Pelfrey
Tallahassee Land Company
850-385-6363
bpelfrey@tlhland.com
Residential – Single FamilyLocation:
4262 Ridgehaven Rd
Tallahassee, FL 32305
WILSON GREEN: Great first home or investment opportunity in Wilson Green! 1325 square foot home with 3 bedrooms, 2 baths, garage and eat in kitchen.

$18,000.00Contact:Mark Trafton
Armor Realty of Tallahassee
850.893.2525
Residential – LotLocation:
XX Lake McKissack Lane
Carrabelle, FL 32322
Lakefront Lot on Lake McKissack, Franklin County. On fresh water just a hop, skip and jump from the Gulf.

$18,000.00Contact:Mark Trafton
Armor Realty of Tallahassee
850.893.2525
Residential – LotLocation:
White Oak Dr
Monticello, FL 32344
Price Reduced on this great 1 acre corner lot in The Sanctuary. Beautiful oaks, new neighborhood in Jefferson County off of Hwy 59.

$25,000.00Contact:Mark Trafton
Armor Realty of Tallahassee
850.893.2525
Residential – LotLocation:
Coquina Crossing Dr
St Marks, FL 32355
VILLAGES OF ST MARKS: Wooded lot in neighborhood just outside St. Marks on the Wakulla River. Great private subdivision with amenities.

$22,500.00Contact:Premier Bank
(850) 386-4726
(850) 386-2225
realestate@premier-bank.com
Residential – LotLocation:
4586 RICE DR
Tallahassee, FL 32304
Lots 2, 3, 4, 5, & 11 for sale in new neighborhood. Secluded quiet cul-de-sac with nice homes tucked away off of Ross Road.

$35,000.00Contact:Mark Trafton
Armor Realty of Tallahassee
850.893.2525
Residential – LotLocation:
Mexico Ln
Tallahassee, FL 32301
Two wooded residential lots located off of Meridian St just north of Putnam. Located along unimproved City right of way.

$40,000.00Contact:Brice Pelfrey
Tallahassee Land Company
850-385-6363
bpelfrey@tlhland.com
Residential – LotLocation:
3068 Elmwood Drive
Tallahassee, FL 32317
2/3 acre Residential Lot on Elmwood Drive off of Walden Road, close to Mahan Drive.

$42,000.00Contact:Brice Pelfrey
Tallahassee Land Company
850-385-6363
bpelfrey@tlhland.com
Residential – LotLocation:
3049 BIDHURST CT
Tallahassee, FL 32317-7486
PRICE REDUCED! Lots 8, (10 sold), 13, 14 Adiron Woods. Beautiful neighborhood, quiet cul-de-sac, great location as soon as you get onto Walden Rd. off Mahan before I-10.

$220,000.00Contact:Mark Trafton
Armor Realty of Tallahassee
850.893.2525
Residential – LotLocation:
XXX Lonnie Road
Tallahassee, FL 32308
4.79 acres – Beautiful wooded property located on Lonnie Road off of Miccosukee Road. Two parcels; 1.91 acre and 2.88 acres. Great for private homestead or long term investment. Has been approved for residential subdivision with 26 lots. All close to shopping, schools, only minutes from town.

$327,000.00Contact:Ben Wilkinson
Tallahassee Land Company
(850) 385-6363
BenW@tlhland.com
AcreageLocation:
HIGHWAY 59
aka GAMBLE RD
Monticello, FL 32344
Acreage in Jefferson County on SR 59 (Gamble Rd). 112 acres in two contiguous tracts, 35 acres and 77 acres. Approximately 2 miles south of I-10, it takes less time to get to downtown Tallahassee than from Killearn Lakes Plantation.

$875,000.00Contact:Brice Pelfrey
Tallahassee Land Company
850-385-6363
bpelfrey@tlhland.com
AcreageLocation:
Silver Lake Rd
Tallahassee, FL 32310
436 acres level, partially wooded land southwest of Tallahassee. Level topography. Engineering plans, environmental studies and development plans are all available for review.

Regent Bank Davie Florida

May 19, 2011

Take a look at the new site

capital2risk.com

This is Sid Spiro he stole $10,000,000 in tax payer money

Sid haven’t even paid interest on the money you stole since 8/10

Sid is a criminal

Cyril where the hell is the $10,000,000 you stole?

Wonder why this clown is bald? He lost $5,363,000 in Q4 2011 alone

This idiot is sitting on $31,00,000 in bad loans

Sid got this place on the problem bank list

The efficiency ratio is 102%, this dope loses money just opening up the doors

The Texas ratio is 78%

Check out the ROE (20%)

Sid Spiro took $10MM in tax payer money, which he won’t repay

Then again Sid hasn’t even paid interest on these funds since 8/10

They are on the problem bank list for weakness in mangement

With $43MM in bad loans and $31MM in equity, it is no wonder Sid is bald

Regent Bank Davie Florida was founded in 1986.  The company took $10MM in tax payer funded bailout money, which it has decided to not repay.  Then again, they haven’t even made a interest payment on  these funds since 8/10.  So, the tax payer has to pay interest but the bank doesn’t have to?  They are on the prestigious problem bank list.  They were cited for having weakness in management, capital, earning and liquidity. What else is there.  It appears as if the made some bad commercial real estate loans.  Shocking a bank in Florida making bad real estate loans. “Regent” the one thing this place rules, is in making bad commercial real estate loans.

The company has $474MM in assets and $41MM in stated equity.

The actual equity is $31MM when you back out the $10MM tax payer loan.

The problem loan situation is phenomenal.  They have $43MM in bad loans.

Check this out, they have $43MM in bad loans and $31MM in equity.

This place is bankrupt.

Why aren’t they shut down?

Net income was ($2MM) in FY10 and ($1.6MM) in FY09.

It looks like the tax payer is not getting paid back.

This bank is a disaster.

Do you have money in this place?

Greer State Bank Greer South Carolina

May 19, 2011

Take a look at the new site

capital2risk.com

This is Ken Harper he took $10MM of your tax payer money, which he won’t pay back

This fat cat hasn’t even paid interest on the money he took, from you since 10/10

Ken Harper makes $266k a year to take your money and run this bank into the ground

This includes country club fees of $12,000 and cell expenses of $9,200

Hold on the tax payer is paying for this fat slob to play golf and he won’t even pay interest on the money he stole?

Does this guy look hungry? he has 3 chins

This fat slob steals your tax payer money to play golf, he is a criminal  

Greer State Bank Greer South Carolina was founded in 1989.  The company took $10MM in tax payer funded bailout money which it won’t return.  In fact, they haven’t even made an interest payment since 10/10.  It’s pretty good when the bank doesn’t have to pay interest on money they borrow!  However, they are not on the problem bank list believe me, this place has problems.

The bank has assets of $438MM with stated equity of $18MM.

The actual equity is $8MM, as the $10MM owed to the tax payer is debt not equity.

This where your tax payer money is going to pay for Greer to go to the Oktoberfest!

The problem loan situation is incredible.  They have $26MM in problem loans, with $18MM on non accrual.

Hold on, they have $10MM in equity and $26MM in bad loans.

This bank is bankrupt.

Why haven’t they been shut down?

Then again, why aren’t they on the problem bank list?

This place is also adept at losing money.

Net income was ($8MM) in FY10, ($1MM) in FY09 and ($5MM) in FY08.

They lost another $1.6MM in Q2 2011.

How are they going to pay the tax payer back $10MM?

At least the executives get paid well for running this place into the ground.

Kenneth Harper     made $266k

Victor Grout            made $161k

Richard Medlock   made $147k

So, Kenneth Harper makes $266k to lose $16MM and takes $10MM of tax payer money?

Kenneth Harper doesn’t even pay interest on the $10MM he took from the taxpayer.

How about  just paying interest on the debt.

Remember Kenneth, this is tax payer money you took.

That’s good pay for wiping out a company and losing millions of dollars!

How about putting this clown in jail?

Is this your bank?

Take your money out of this place

National Bank of California Los Angeles California

May 19, 2011

 

This is Barry Uzel the CEO, took $9MM of your money which he won’t pay back

Don’t worry, Barry also wiped out the stockholders as the stock is de listed

Barry got the bank on the problem bank list

Barry lost this bank $9MM in the last 2 years, how is going to pay back the $9MM?

Barry makes $618k including a country club membership and a car allowance

No only is he good at losing money, he racked up $28MM in bad loans

National Bank of California Los Angeles was founded in 1982.  The company took $10MM in tax payer funded bail out money which it has decided to not repay.  The company is on the problem bank list.  The company stock is also delisted.

They have $381MM in assets with $42MM in equity.

The actual equity is $32MM, as the $10MM in bailout money is debt, not preferred stock.

The company has $28MM in problem loans.

The bank has $28MM in problem loans with only $32MM in equity!

This place is bankrupt.

Why hasn’t it been shut down?

Net income was ($5MM) in FY10 and ($3MM) in FY09.

How are they going to pay the tax payer back $10MM, they can’t and they don’t seem to care.

The executives won’t pay the tax payer back, but they are paying themselves well to run this thing into the ground.

Barry Uzel          made  $618k

Richard Ritte     made $322k

Scott Peterson   made $270k

Don’t worry, the compensation includes club fees and car allowances.  That is a good use of tax payer money.

So Barry Uzel made $618k, to lose $5MM, wipe out this company and he gets $10MM in tax payer money, which he won’t pay back.

Barry Uzel bankrupted your bank .

Only in America!

Is this your bank? Don’t take your money out, Barry needs it for his country club fees.

Then again, he has $10MM in tax payer money to pay for club fees.

United Bank Atmore Alabama

May 18, 2011

This is Bob Jones the CEO

Bob stole $10,000,000 in tax payer funding which he won’t repay

This dope is sitting on $24,000,000 in junk loans with only $47,000,000 in equity

Bob you got problems

Here is Bob he doesn’t seem worried about paying the tax payer back the $10,000,000 he stole

It doesn’t look like Bob is missing a meal on the tax payer dime

The Texas ratio is 75%

This is one of the the worst banks in the state

Do you have money with Bob Jones? You are Jonesing?

Bob has an impressive selection of vacant land for sale

United Bank Atmore Alabama was founded in 1904.  The company took $10MM in tax payer funded bailout money which it hasn’t repaid.

They have $466MM in assets and $45MM in stated equity.

The actual equity is $35MM when the tax payer funded bailout money is treated as debt, of which it is.

They have $28MM in problem loans.

Having $35MM in equity with $28MM in problem loans is not good.  The non accrual of $25MM will wipe out the equity.

Net income was ($605k) in FY10 and ($3.7MM) in FY09.

So how are they going to pay back $10MM?

Check out the website, they have quite a collection of vacant land for sale.

Mission Valley Bank Sun Valley California

May 18, 2011

Hire this guy as CEO, he wouldn’t cheat the tax payer or on his wife

Mission Valley Bank Sun Valley California took $10MM in tax payer bailout funds, which they have neglected to repay.  The stock is delisted.

They have $254MM in assets with $33MM in equity.

The equity is actually $23MM, as the $10MM in tax payer funds is debt not equity.

They have $9MM in problem loans which is 39% of the capital base.

They should be on the problem bank list.

Net income was $1MM in FY10 and ($54k)  in FY09

At this rate how long will it take them to pay back the $10MM?

They are on a mission all right, to wipe out the rest of the company equity.

Citizens Bank of Northern California Nevada City California

May 18, 2011

 

This is Gary Gall in the middle, the CEO

This place is on the problem bank list

It is also one of the worst capitalized banks in the country

This disaster should be bankrupt in no time

Citizens Bank of Northern California Nevada City California was founded  in 1995.  The company took $10MM in tax payer supported bailout funds which they haven’t repaid.  The company is on the problem bank list for weakness in management, earnings, capital and liquidity.   The stock is delisted.  For some reason the cancelled the annual shareholder’s meeting.  It sounds like they had to extend the capital raising period.  Who in their right mind would put money into this place.  The Texas ratio is 134%.

The company is also on the list of under capitalized banks, the tier 1 risk based capitalization is 7.71%.

The company has assets of $328MM and equity of $11MM.

The actual equity is $1MM, as the $10MM in tax payer funding is debt not equity.

The problem loans this bank has is astounding.  They have $43MM in bad debt.

They have $10MM in equity and $55MM in problem loans?

This place is bankrupt.

Why haven’t they been shut down”

Net income was ($5MM) in FY10 and ($12MM) in FY09.

They lost another $4.7MM in Q2 2011.

This management team has wiped out virtually all the equity in this bank.

Do you have money in this bank?

The company doesn’t want to put there financial information on the website.

Gary you got Gall, the CEO , took tax payer money which he refuses to repay.

This guy should be wacked.

Gary Gall wiped out this place.

Citizens Trust Bank Atlanta Georgia

May 17, 2011

This is James Young, he took $12MM in bailout money which hasn’t been repaid

He makes $453k per year

The bank made only $315k in FY10, at this rate how long will it take them to pay back $ the $12MM, try 20 years

James makes more than the whole bank

Take a look at the website, James some attractive vacant land for sale

Citizens Trust Bank Atlanta Georgia was founded in 1921.  The company took $12MM in tax payer funded bailout money which they haven’t repaid.  At least they had enough funds to pay a dividend to the shareholders.

The company had $387MM in assets and $45MM in equity.

The actual equity position is $33MM, when you back out the tax payer funded preferred stock, which is debt that is not being repaid.

The company has $20MM in problem loans.

Having $20MM in problem loans and $33MM in equity is not a great situation, the non accrual of $15MM alone could strain the equity base.

How come this bank is not on the problem bank list?

Net income was $315k in FY10 and $715k in FY09.

At this rate, how long will it take to pay the $12MM back to the tax payer, try 20 years.

The executives actually get paid more than the company makes.

James Young made $453k

Cynthia Day     made $258k

Samuel Cox     made $181k

This team does well for generating no income for the bank.

Take a look at the website, they have a good selection of vacant land and abandoned property for sale.

Are you trusting these citizens?

First National Bank of Northern California San Francisco California

May 16, 2011

This is Tom McGraw the CEO, he took $12MM in bailout money, which he hasn’t paid back

Don’t worry, the shareholders got paid dividends

Tom made $271k last year

First National Bank of Northern California was founded in 1963.  The bank took $12MM in tax payer funded bailout money which they have chosen to not repay.  Fortunatley, they had money to pay dividends to the investors but couldn’t pay the tax payer back from the money they took?

First National Bank of Northern California

Board of Directors

First National Bank of Northern California; Board of Directors

Standing: Edward Watson; Ronald Barels; Thomas Atwood; Chief Operating Officer, Anthony Clifford; Merrie Turner Lightner; Mike Pacelli
Seated: Chief Executive Officer, Thomas McGraw; Chairwoman of the Board, Lisa Angelot; President, Jim Black

The company has assets of $714MM with equity of $80M.

The actual equity is $68MM, as the so called preferred stock is actually debt which they have decided to not repay.

The bank has $35MM in problem loans.

So they have $35MM in bad loans with $68MM in equity, the non accruals are $30MM which could wipe out the equity position.

This place is probably technically insolvent.

This is Tony Clifford, the COO he makes $303,000

Why aren’t they on the problem bank list?

Net income was $2.8MM in FY10, why didn’t they use these funds to repay the tax payer?

They are probably using the funds to pay the executives.

Thomas McGraw made $271k

Jim Black                made $349k

Anthony Clifford  made $303k

David Curtis            made $281k

Good pay for wiping out the equity position.

Regarding the $12MM, the tax payer is feeling like jumping off the Golden Gate bridge

Blue Ridge Bank and Trust Independence Missouri

May 16, 2011

Blue Ridge Bank and Trust Independence Missouri was founded in1958.  The bank took $12MM in tax payer funded bailout money, which it decided to not repay.

It has assets of $465MM and equity of $40MM.

The actual equity is $28MM when the tax payer funding is backed out.

The bank has problem loans of $18MM.

Having $18MM in bad debt with $28MM in equity is not a good situation, the non accrual of $14MM alone could shatter the equity base.

They had net income of $1MM in FY10 and ($13MM) in FY09.

So how are they going to pay back the $12MM?

For some reason they are not on the problem bank list, this place does have some problems.

Bank of the Carolinas Mocksville North Carolina

May 14, 2011

Bank of the Carolinas Mocksville North Carolina was founded in 1998.  The company took  $13MM in tax payer funded bailout funds which they have neglect to pay back.  The Texas ratio is 59%.

They have assets of $534MM and equity of $36MM.

The equity position is actually $23, when the tax payer funded debt is backed out.

The problem loan portfolio is staggering at $31MM.

They have $31MM in bad loans with $23MM in equity.

This place is insolvent.

Why aren’t they closed down.  Then again, why aren’t they on the problem bank list?

Net income was ($3MM) in FY10, ($3MM) in FY09 and ($3MM) in FY08.  At least they are consistent at losing money.

Take a look, they lost $12MM in Q2 2011!

At this rate, how are they going to pay back the $13MM?

Maybe this place is a non profit.

Thankfully, the executives are well paid for guiding this train wreck.

Robert Marziano made  $298k

Michael Larowe made  $260k

Harry Hill               made $198k

That’s good pay for running this thing into the ground, in a decade. Imagine what they would pay themselves if they made money.

Mocksville, that is a good location for this place.  I would hate to mock this company.

The average pay in this town is $27,000.

Robert Marziano makes in one year what the average person in this town make in 11 years, yet he causes this company to go bankrupt ,

Wow, this company pays this guy $300K a year to lose $3MM a year and stealing $13MM in tax payer money!

This guy is making a mockery of this company as well as the tax payer.

Do you have money in this mockery?

Village Bank Midlothian Virginia

May 14, 2011

 

Thomas Winfree took $15MM of your tax payer funded bailout money, which he won’t pay back

He gets paid $236K a year and got this disaster on the problem bank list

This clown racked up $33MM in bad loans

Winfree?   The tax payer is not winning and it is not free, this fat cat banker should be incarcerated

Thomas, the tax payer wants the $15MM back

 

Village Bank Midlothian Virginia was founded in 1999.  The company took $15MM in taxpayer funded bailout money, which it decided to not pay back. For some reason they are not on the problem bank list but rest assured, this place has problems.  The Texas ratio is 56%.

The company has assets of $591MM and stated equity of $48MM.

The actual equity position is $33MM after you back out the preferred stock, which is debt owed to tax payer not equity.

The problem loan portfolio consists of $16MM on loans 30-90 days past due with $17MM on non accrual.

Hold on, that equates to $33MM in problem loans with only $33MM in equity.

This place is technically insolvent, the non accruals alone could wipe them out.

The bank had net income of $549MM in FY10, ($13MM) in FY09 and $468k in FY08.

Based on this financial performance, how long will it take them to the tax payer back $15MM?  About 30 years, it doesn’t look like they will be around that long.

It least the executives get paid well for destroying this place in record time.

Thomas Winfree        made  $236k

C. Harril Whitehurst  made $207k

Raymond Sanders      made  $202k

I guess down south if you are a lawyer or a banker you get to slap a letter in front of your name to make it official.

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

Thomas Winfree, he wins $236k for destroying this company and he gets $15MM in free tax payer money.  Now that is a Winfree!

Look on the bright side, they have some attractive vacant lots and residential land developments for sale.

Do you have money in this bank?

If you are a tax payer Thomas Winfree is stealing your money and has no intention of paying it back

This guy is illegal

Grand South Bank Greenville South Carolina

May 13, 2011

Grand South Bank Greenville South Carolina was founded in 1988.    The company took $15MM in tax payer funded bailout money that it has neglected to repay.  The stock was delisted.

They have $362MM in assets with $43MM in stated equity.

The actual equity position is $28MM when you back out the so called preferred stock, which is debt not equity.

The company has $10MM in problem loans.

Net income was (519K) in FY10 and $447K in FY09.

So how are they going to pay the tax payer the $15MM back?

Based on the FY09, they should have it paid back in 33 years!

That is a good use of tax payer money.

Community West Bank Goleta California

May 13, 2011


Check out the new site

capital2risk.com

That is Linda Nahra  the CEO on the right, she took $15MM in bailout funds

She makes $307k a year

The bank has $109MM in bad loans, with only $46MM in equity

Hold on, why is she giving a check for $50k away, while she owes the tax payer $15MM

Community West Bank Goleta California was founded in 1989.  The company took $15 in tax payer funded bailout money that they have decided to not return.  For some reason, they are not on the problem bank list.  Maybe not paying back the government is not a problem!

The company has assets of $667M and stated equity of $61MM.

The equity position is actually $46MM, as the tax payer funds are debt not preferred stock.

Check this out, the problem loan portfolio is immense.  They have $22MM of loans that are 30-90 days past due, there are an incredible $87MM on non accrual.

So, they have $109MM in bad loans with only $46MM in equity.

This place is bankrupt.

Why hasn’t the disaster been shut down.

Then again, why aren’t they on the problem bank list?

Good thing we have those regulators.

Net income was $1MM in FY10 and ($6MM) in FY09.

So how are they going to pay the tax payer back $15MM, it’s not happening.

At least the executives don’t have a problem paying themselves.

Linda Nahra                     made $307k

Charles Baltuskonis      made $240k

Richard Fauor                made $222k

Maybe they used the tax payer funds to pay their salaries.

So the company makes a $1MM and they pay themselves $769k , for running this place into the ground!

Do you have money in this bank, they are bankrupt.

Carolina Bank Greensboro North Carolina

May 12, 2011

 

This is the CEO Bob Braswell he took $16MM in TAARP money

He hasn’t paid interest since 11/10

He makes $437k, to rack up $38MM in bad loans

Carolina Bank Greensboro North Carolina was founded in 1996.  The company took $16MM in tax payer funded bailout money which it has neglected to return.  It has also chosen not to pay interest since 11/10.  What if the customer decided not to pay interest to them?

The company has $676MM in assets and $53MM in equity.

The  actual equity is $37MM,  as the $16MM in bailout funds is debt not preferred stock.

The problem loan portfolio has $6MM in loans 30-90 days past due and $32MM on non accrual.

So, the bank has $38MM in bad loans with only $37MM in equity.

This bank is bankrupt, why isn’t it closed down?

Then again, why isn’t it on the problem bank list?

The company had net income of ($2MM) in FY10.

The executive compensation has remained strong despite this dismal performance.

Robert Braswell     made  $437k

Gunner Fromen    made  $332k

Allen Liles                made $258k

Philip Carmac    “earned” $641k

This group pays themselves this kind of money but they don’t even pay interest on the tax payer funded bailout money, let alone paying it back.

Do you have money in this place, it appears bankrupt.

Community First Bank and Trust Columbia Tennesse

May 11, 2011

Here is the CEO Marc Lively, he took $17MM in TAARP funds

He made $298k last year

Mark made $151MM in problem loans with only only $39MM in equity

It didn’t take him long to bankrupt this place

They lost $10MM over the last 2 years

The balance sheet is not looking very lively

Good thing has time to play golf, at least he can’t make bad loans there

Community First Bank and Trust Columbia, Tennesse was founded in 1999.  They took $17MM in tax payer funded bailout money, which it won’t pay back.  I couldn’t find it on the problem bank list, but it ought to be.

The company has $678MM in assets with $56MM in supposed equity.

The equity position is actually $39MM, as the $17MM in bailout funds is not preferred stock but debt, which they won’t pay back.

The problem loan scenario is staggering.  They have $41MM in loans past due 30-90 days, get this, there are $110MM in loans on non accrual!

So, they have $151MM in bad loans and $39MM in equity.

This place is flat out bankrupt

Why hasn’t the government shut them down.  What, they think if they wait they will get the $17MM back?

Why aren’t they at least on the problem bank list, this place has problems.

This place is bankrupt.

How are they going to pay back the tax payer $17MM

Net income was ($4MM) in FY10 and ($6MM) in FY09.

So how are they going to pay the $17MM back?

At least the executives are suffering.  They get paid well for wiping this place out.

Mark Lively             made $298K

Diane Scroggins     made$125K

Michael Saporito   made $167K

Carl Cambell            made $177K

Mark Lively gets paid well to run this thing into the ground

That is good pay for causing this disaster.

East Carolina Bank Engelhard North Carolina Dwight Utz

May 11, 2011

This is Dwight Utz he took $17MM in bailout money

This is Thomas Crowder the CFO

Ask Thomas how he is going to pay you back the $17,000,000 he owes the tax payer

Thomas isn’t worried he makes $231,000 a year

The bank made $200k in FY10 and ($400M) in FY09, how the hell long will it take them to pay back $17MM

Dwight makes $311k, good pay for wiping out a 92 year old bank

This is the board the took $17,000,000 in tax payer money that they won’t pay back

East Carolina Bank Engelhard, North Carolina was founded in 1919.  The company took $17MM in tax payer funded bailout money, which it has decided not to repay.  It is not on the government problem bank list.  I guess not paying back the tax payer back, is not a problem.

The company has $919MM in assets with $80MM in equity.

The actual equity is $63MM as the $17MM in bailout money is debt not preferred stock, despite the fact that they won’t repay it.

There are $23MM in problem loans.  The non accrual alone could eradicate a large part of the equity position.

Net income was ($200K) in FY10 and $499K in FY09.

Based on this financial performance, how are they possibly going to pay back the tax payer’s $17MM?

Fortunately, the executives haven’t suffered or made any effort to pay back the tax payer.

Dwight Utz               made $311K

Thomas Crowder  made $231K

James Burson         made $204K

At least these boys are well taken care of.

They have made a good effort at wiping out a 92 year old institution.

Is this your bank?

Dwight Utz?

Dwight got paid all right, for running this place into the ground.

Dwight, when are you going to pay back the tax payer the $17MM you stole

Do you have money in this bank?

Next time you go into the branch, ask them when they are going to stop paying Dwight Utz for his incompetent management, and pay back your $17MM in tax payer money.

Florida Bank Tampa, Florida

May 11, 2011

Florida Bank Tampa, Florida was founded in1985.  The company took $20MM in tax payer funded bailout money, which it has neglected to pay back.  Then again, it hasn’t even made interest payments on these funds since 8/10.  For some reason, the company isn’t on the problem bank list. The Texas ratio is 86%.

The company has assets of $839MM with stated equity of $47MM.

Though the stated equity is $47MM, the $20MM is tax payer funded bailout money, which is actually debt not preferred stock.  The actual equity is $27MM.

The problem loan portfolio is immense.  They have $64MM in problem loans

So, they have $64MM in bad loans with $23MM in equity.

This bank is bankrupt.

Why haven’t they been closed down or at least put on the problem bank list?

This bank is also adept at losing money.  Net income was ($42MM) in FY10 and, ($15MM) in FY09.

They lost another in Q1 2011.

How are they  going to pay the tax payer the $20MM back? They can’t

At least the executives were taken care of.

Dale Reid             made   $280

Cindy Robbins made     $239K

That is good pay for destroying this company.

United Security Bancshares Fresno, California

May 10, 2011

That is Dennis Woods on the right, he is the CEO

His bank is on the problem bank list

He makes $662k, which includes a country membership

How many chins is he sporting?

United Security  Bancshares Fresno, California was founded in 1987.  The company is on the problem bank list as it entered into a written agreement with the regulators, for essentially horrible commercial real estate lending.  The Texas ratio is 70%

The company has assets of $682MM with $66MM in equity.

The problem loan portfolio is significant.  There were $13MM loans that are 30-90 days past due and $42MM on non accrual.

The gives them $57MM in problem loans with only $66MM in equity.  The non accrual alone could destroy the equity position.

This bank is probably technically insolvent.

At least they executives didn’t suffer as they ran this place into the ground.

Dennis Woods                 made $662K

Ken Donahue                    made  $252K

Rhodlee Braa                   made   $211K

William Scarborough made $192K

Richard Shope                made $284

Dennis Woods also had $13K in club fees paid for.  All members had $14K in health insurance paid for.

Not bad pay for wiping this place out.

They may want to drop security from their name.

TruPoint Bank Grundy Virginia

May 10, 2011

Check Barry he has one hand on his C$ck, the other is pointing to his $43,000,000 in bad loans

Barry is making a TruPoint he is F$$cked 

This is Barry he is on the problem bank list

Barry’s bank is f$$cked

This is the CEO Barry Elswick, his bank is on the problem bank list

Trupoint Bank Grundy, Virginia was founded in 1975.  The company is on the problem bank list.  The Texas ratio is 50%.

The company has assets of $493MM with equity of $43MM.

That fat slob on the right is Barry Elswick

 Did Barry tell this wench that his bank is on the problem bank list?

 Barry $$Elswick you have  $43,000,000 in problem loans

Barry that Vixon is lookng Grundy

The problem loan portfolio has $19MM in loans that are past due 30-90 days, while there are $24MM on non accrual.

That equates to $43MM in bad loans and $43MM in equity.

This place is bankrupt

They should be able to blow through this equity position pretty quickly.

This place is technically insolvent.

Would you put your money with this bald clown

  This guy looks Truely Grundy

Is this your bank?

Trupoint?  Try Trudisaster

Mohave State Bank Lake Havasu City, Arizona

May 10, 2011

This is RalphTapscott the CEO, the bank is on the problem bank list

Mohave State Bank Lake Havasu City, Arizona was founded in 1991.  The company is on the problem bank list as it entered into a consent agreement due to deficient commercial real estate lending.  The Texas ratio is phenomenal at 122%.  The stock has been delisted.

The company has assets of $302MM with equity of $25MM.

The problem loan list totals $28MM.

They have more problem loans than equity!

This bank is insolvent.

Vision Bank Panama City, Florida

May 10, 2011

Vision Bank Panama City, Florida was founded in 1926.  The company has a staggering Texas ratio of 101%.  For some reason the company is not on the problem bank list.

The company has assets of $809MM with equity of $126MM.

The problem loan situation is amazing.  They have $187MM in problem loans.

They had the vision to finance a lot (no pun intended) of vacant lots.

That equates to $187M bad loans with $126MM in equity.

This place is bankrupt.

The earnings are equally as impressive with net income of ($29MM) in FY10, ($30MM) in FY09 and ($81MM) in FY08.  They lost another $11MM pretax in Q1, stellar performance.

Take a look, they lost another $20MM in Q2 2011.

At least the executives were well paid.

Daniel DeLander   made  $1MM

David Trautman      made $689K

John Kozak               made $513K

It is a good thing they are not paid for performance!

So Daniel Deflander makes a $1MM to lose  $140MM , run up $224MM in bad loans and bankrupt an  85 year old company. This guy is legal.

David Tautman, fired

John Kozak

For some reason they don’t like to put the financial statements on the website, I guess when you are bankrupt, that is not a bad idea

Is this your bank?

They should be wiped out by year end.

This management team is incompetent

Vision Bank? The executives have the vision to take as much money as they can before they bankrupt this place.

CNL Bank Orlando, Florida

May 10, 2011

Check out the new site

capital2risk.com

This is C Michael Collins

C Michael’s bank is on the problem bank list for get this weakness in management


This idiot is sitting on $131,000,0000 in junk loans and he is smiling?

C Michael wiped this place out in record time

C Michael has a problem with loan quality and capital adequacy? SHOCKING

The C is short for criminal

C Michael lost $49,000,000 in only 2 years

Do you have money in this bankrupt place?

This is Timothy Little

Timothy is sitting on $131,000,000 in junk loans

This little man is looking a big f$$cking load of bad loans, not sure why this dope is smiling

CNL Bank Orlando, Florida was founded in 1997.  The company is on the problem bank list for among other things weak management, loan quality, capital and earnings.  The Texas ratio is 50%.

This is James Miller, this fat cat bankster doesn’t miss a meal

This is Weymon Snuggs can’t make that name up

CNL is short for Can Not Lend

The company has assets of $1.4B with equity of $123MM.

The problem loan portfolio is significant.  Loans of $22MM were 30-90 days past due, there were $11MM over 90 days past due and $47MM on non accrual.

The problem loan situation could effectively wipe out the equity position.

Here is Tom Lytton of CNL Bank he has time to make Sh$$t loans and play golf?

There are $131MM in junk loans with $115 in supposed equity.

This place is bankrupt

CNL, means can not lend.

The company has experienced significant losses with net income of ($26MM) in FY10 and ($23MM) in FY09.

C. Michael Collins bankrupted this place  in record time.

The regulators cited weakness in management, shocking C. Michael.

If you lost $49MM in 2 years, would you still a job?  C. Michael still does.

C. Michael did a stellar job at wiping out the investors, he should be incarcerated.

Take a look at the real estate for sale on the website, this crew likes to finance swampland in Florida.

This place is on life support.

Is this your bank?

Would you give your money to C. Michael ?

Northwest Georgia Bank Ringold, GA

May 10, 2011

This is Welsey Smith the CEO, in the middle, looking like a fat cat banker, that thing is all bought and paid for

His bank is on the problem bank list

Wesley did an admirable job running a 107 year old bank into the ground

Good thing he has time to sponsor a golf tournament, probably closing some more bad commercial real estate deals

Northwest Georgia Bank Ringold, GA was founded in 1904.  The company is on the problem loan list for problem commercial real estate issues.   The Texas ratio is 106%.

The company has assets of $556MM with equity of $32MM

The problem loan portfolio has $3MM in loans 30-90 days past due with $20MM on non accrual.

The non accrual loans alone could wipe out the equity position.

This place is probably technically insolvent.

First Trust Bank Charlotte, NC

May 10, 2011

First Trust Bank Charlotte, NC was founded in 1999.  The company has a Texas ratio of 82%.

The company has $445MM in assets and $13MM in equity.

The problem loan base is staggering in relation to equity.  They have $7MM in loans that are 30-90 days past due with $33MM on non accrual.

That is $40MM in bad loans with only $13MM in equity.

This bank is bankrupt.

Why aren’t they on the problem bank list?

First Trust how about Last Trust

Do you have money in this diaster?

Oxford Bank Oxford, MI

May 10, 2011

This is Jeff Davidson CEO

His bank is on the problem bank list

He probably shouldn’t be giving money away

Oxford Bank Oxford, MI was founded in 1889.  The company is on the problem bank list as it entered into a written agreement with the regulators.  They were cited for unsatisfactory lending and poor asset quality.  The Texas ratio is 135%.

The company assets of $285MM with equity of $8MM.

The bank has $5MM in loans that are 30-90 days past due with $9MM on non accrual.

The equates to $14MM in problem loans with only $8MM in equity.

This bank is insolvent.

Why has it not been closed?

Liberty Savings Bank Maple Grove, MN

May 9, 2011

Liberty Savings Bank Maple Grove, MN was founded in 1972.  The company has a phenomenal Texas ratio of 72%.

The company has assets of $1.1B with equity of $91MM.

The problem loan situation could be a huge problem for the limited equity base.  There are $4MM in loans 30-90 days past due with $59MM on non accrual and $14MM in foreclosure.

That  is$63MM in bad loans with just $91MM.

The bank is probably insolvent.

Why are they not closed.

Then again, why are they not on the problem bank list.

The management team was able to lose $45MM in FY10, as they wiped out 35% of the equity.

Inter Savings Bank Maple Grove, MN

May 9, 2011

Fred Stelter wiped this bank

This joker is sitting on $40,000,000 in junk loans with only $11,000,000 in equity

Fred should be in jail

Is FR$$D holding your money?

This is one of the worst banks in the state

Better Fred than DEAD

Inter Savings Bank Maple Grove, MN was founded in 1965.  They are on the problem bank and entered into a cease and desist order with the regulators.  With a Texas ratio of 174%, they more than a problem.

The company has $603MM in assets and only $13MM in equity.

The problem loan situation is interesting.  They have $13MM in loans 30-90 days past due, with $23MM on non accrual.

Hold on, that is $36MM in bad loans with only $13MM in equity.

Can you spell insolvent?

This place should be closed.

The management team wiped out 277% of the equity in the last 3 years!

They have gotten to post their financial statements of the website since 2009. Maybe if they don’t publish the financial information, the customers won’t know how bad this place is.

Park View Federal Savings Bank Solon, Ohio

May 9, 2011

Take a look at the new site

capital2risk.com

The efficiency ratio is 100% Robert King loses money just opening up the bank

Robert King made $730,000 in 2011

That is good pay for being on the problem bank list, for aiding and abetting unsafe banking practices

Unprotected commercial lending practices?

Park View Federal Savings Bank Solon, Ohio has become an honorable member of the problem bank list.  They entered into a cease and desist order with the regulators.  They were cited for aiding and abetting unsafe banking practices.  They were performing unprotected commercial real estate lending. That might be a reason the Texas ratio is 78%.

The company has assets of $890MM with equity of  $74MM.

Take a look at the problem loan situation.  They have $13MM in loans 30-90 days past due, $52MM in loans on non accrual coupled with $43MM in forecloses!

So they have $65MM in bad loans with only $74MM in equity.

This place is bankrupt

How come they haven’t been shut down?

Well, the executives got paid well to destroy this company.

Robert King    made $731K

Marty Adams made $119K

Jeffrey Male made  $164K

Robert is the King of making bad loans.

Anyone looking for foreclosed real estate in Ohio?

Robert is the King, how far does $731k go in Solon Ohio for bankrupting  a bank.

As Robert King says “why rob a bank when you can own one”

Do you have money in this disaster?

It looks like that gut is bought and paid for

Park View Federal Savings Bank
Order to Cease and Desist
Page 1 of 14
UNITED STATES OF AMERICA
Before the
OFFICE OF THRIFT SUPERVISION
)
In the Matter of ) Order No.: CN 09-34
)
)
PARK VIEW FEDERAL ) Effective Date: October 19, 2009
SAVINGS BANK )
)
Solon, Ohio )
OTS Docket No. 01195 ) )
ORDER TO CEASE AND DESIST
WHEREAS, Park View Federal Savings Bank, Solon, Ohio, OTS Docket No. 01195 (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 and its directors, officers, and employees shall cease and desist from any action (alone or with others) for or toward, causing, bringing about, participating in, counseling,
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o aiding and abetting all unsafe or unsound practices that resulted in the Association operating with an excessive level of adversely classified assets; an inadequate allowance for loan and lease losses (ALLL) for the volume, type, and quality of loans held; and an inadequate level of capital protection for the volume, type, and quality of assets held by the Association.
Capital.
2. (a) By December 31, 2009, the Association shall meet and maintain: (i) a Tier 1 (Core) Capital Ratio of at least eight percent (8%) and (ii) a Total Risk-Based Capital Ratio of at least twelve percent (12%) after the funding of an adequate ALLL.
(b) The requirement in Subparagraph (a) above to meet 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).
3. (a) By October 31, 2009, the Board shall adopt and submit to the Regional Director for review and comment a written plan to achieve and maintain the Association’s capital levels prescribed in Paragraph 2 of this Order (Capital Plan). The Capital Plan shall cover the period beginning with the quarter ending September 31, 2009 through the quarter ending December 31, 2011. At a minimum, the Capital Plan shall:
(i) address the requirements and restrictions imposed by this Order;
(ii) detail capital enhancement strategies with specific narrative goals, which shall result in new equity and a capital infusion;
(iii) consider and address the amount of additional capital that would be necessary to meet the capital requirements of Paragraph 2 of this Order
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under different forward-looking scenarios involving progressively stressed economic environments;
(iv) identify the specific sources of additional capital;
(v) detail timeframes by which the additional capital will be raised and provide specific target month-end capital levels; and
(vi) provide for alternative methods to strengthen capital, should the primary sources identified under Paragraph 3(a)(iv) of this Order not be available.
(b) Within thirty (30) days after receiving any written comments from the Regional Director, the Board shall revise and adopt the Capital Plan based on such comments. The Board shall ensure that the Association implements and adheres to the Capital Plan. A copy of the Capital Plan shall be provided to the Regional Director within five (5) days after the Board meeting.
(c) Once the Capital Plan is implemented, the Association shall operate within the parameters of its Capital Plan. Any proposed material deviations from or changes to the Capital Plan must be submitted for the prior, written non-objection of the Regional Director. Requests for any material deviations or changes must be submitted at least sixty (60) days before a proposed change is implemented.
(d) The Association shall notify the Regional Director regarding any material event affecting or that may affect the capital or capital projections of the Association within five (5) days after such event.
4. (a) On a monthly basis, beginning with the month ending December 31, 2009, the Board shall review by the last day of each month, a written report that compares projected operating results contained within the Capital Plan to actual results for the
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previous month (Capital Plan Variance Report). The Board’s review of the Capital Plan Variance Report and assessment of the Association’s compliance with the Capital Plan shall be fully documented in the appropriate Board meeting minutes.
(b) On a monthly basis, beginning with December 31, 2009, the Board shall provide to the Regional Director, by the 30th day of each succeeding month, a copy of the Capital Plan Variance Report.
5. Within fifteen (15) days after: (a) the Association fails to meet the capital requirements prescribed in Paragraph 2 beginning December 31, 2009; (b) the Association fails to comply with the Capital Plan prescribed in Paragraph 3; or (c) any written request from the Regional Director, the Board shall prepare and submit a written Contingency Plan that is acceptable to the Regional Director. 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 approvals or sixty (60) days after the implementation of the Contingency Plan: (i) merger with, or acquisition by another federally insured depository institution or holding company thereof; or (ii) voluntary liquidation by filing an appropriate application with OTS in conformity with federal laws and regulations.
6. Upon receipt of written notification from the Regional Director, the Association shall implement the Contingency Plan immediately. The Board shall provide the Regional Director with written status reports detailing the Association’s progress in implementing the Contingency Plan by no later than the 1st and 15th of each calendar month following implementation of the Contingency Plan (Contingency Status Reports).
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Liquidity.
7. (a) Within sixty (60) days, the Board shall adopt revisions to the Association’s Liquidity Policy, which, at a minimum, shall include:
(i) separate ratios and target limits for on-balance sheet liquid assets;
(ii) an increase in the Association’s minimum liquidity ratio;
(iii)
management of liquidity in accordance with OTS Thrift Bulletin 77 and OTS Examination Handbook § 530;
(iv)
periodic stress testing of the availability of all funding sources under specific scenarios and various market conditions;
(v) compliance with Paragraph 16 of this Order regarding the restrictions on brokered deposits, including, but not limited to the monitoring of interest rates paid on deposits for compliance with 12 C.F.R. § 337.6; and
(vi) Board oversight of the Association’s liquidity needs and available sources of liquidity, including a requirement that the Regional Director be notified immediately of any event that would limit the Association’s funding sources or available liquidity amounts.
(b) The Association shall provide a copy of the Liquidity Policy to the Regional Director within five (5) days of Board approval.
Asset Quality.
8. (a) Within forty-five (45) days, the Board shall adopt a schedule of quarterly reduction targets which: (i) reduces the level of adversely classified assets at the Association to no more than 50% of core capital plus ALLL by December 31, 2010; and (ii) reduces the level of adversely classified assets and assets designated as special
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mention at the Association (Criticized Assets) to no more than sixty-five percent (65 %) of core capital plus ALLL by December 31, 2010. The Board shall send a copy of the reduction targets implemented by the Board to the Regional Director within seven (7) days of Board approval.
(b) On a quarterly basis, beginning with the quarter ending December 31, 2009, the Board shall review a written report comparing the projected reduction targets to actual results (Problem Assets Variance Report). If the Board determines that a material deviation exists between a quarterly reduction target and actual results, it shall approve a Board resolution directing specific remediation steps to achieve compliance with the reduction targets by the following quarter. The Board’s review of the quarterly Problem Assets Variance Report shall be fully documented in the Board minutes.
(c) Within sixty (60) days of the close of each quarter, the Board shall provide the Regional Director with a copy of the Problem Assets Variance Report.
9. Within thirty (30) days, the Board shall revise the Association’s ALLL methodologies and policies taking into account the methodology revisions contained in the Matters Requiring Board Attention section of the OTS Report of Examination dated May 4, 2009.
Business Plan.
10. (a) Within sixty (60) days, the Board shall adopt and submit to the Regional Director for review and comment a comprehensive business plan for the period beginning with the quarter ending September 30, 2009 through the quarter ending December 31, 2011 (Business Plan). At a minimum, the Business Plan shall include the requirements contained within this Order and shall include:
(i) well supported and realistic strategies to achieve consistent profitability by
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September 30, 2010;
(ii) the maintenance of capital levels required by Paragraph 2 of this Order;
(iii) the Liquidity Policy revisions provided for in Paragraph 7 of this Order;
(iv) strategies to stress-test and adjust earnings forecasts based on continuing operating results, economic conditions and credit quality of the loan portfolio; and
(vi) quarterly pro forma balance sheets and income statements for the period beginning with the quarter ending September 30, 2009 through the quarter ending December 31, 2011.
(b) The Business Plan shall include all assumptions used in the pro formas, such as: (i) the assumed interest rate scenarios; (ii) assumptions used for noninterest income and noninterest expense; (iii) assumptions used to determine the ALLL; (iv) assumptions for loan origination rates, using recent experience and taking into consideration current national and regional economic conditions; and (v) assumptions supporting the cost of funds projections.
(c) Within thirty (30) days after receiving the Regional Director’s written comments, the Board shall revise and adopt the Business Plan based on such comments. Thereafter, the Association shall implement and comply with the Business Plan. Within five (5) days of Board approval of the Business Plan, the Association shall provide a copy of the adopted Business Plan to the Regional Director.
(d) Once the Business Plan is implemented, the Association shall operate within the parameters of its Business Plan. Any proposed material deviations from or changes to the Business Plan must be submitted for the prior, written non-objection of the Regional
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Director. Requests for any material deviations or changes must be submitted at least sixty (60) days before a proposed change is implemented.
(e) The Association shall notify the Regional Director regarding any material event affecting or that may affect the balance sheet, capital, or the cash flow of the Association within five (5) business days after such event.
11. (a) On a quarterly basis, beginning with the quarter ending December 31, 2009, the Association shall prepare and submit to the Board a report that compares projected operating results contained within the Business Plan to actual results (Business Plan Variance Report). The Board shall review each Business Plan Variance Report and address external and internal risks that may affect the Association’s ability to successfully implement the Business Plan. This review shall include, but not be limited to, adverse scenarios relating to asset or liability mixes, interest rates, staffing levels and expertise, operating expenses, marketing costs, and economic conditions in the markets in which the Association is operating. The Board shall discuss and approve corrective actions, if needed, to ensure the Association’s adherence to its Business Plan. The Board’s review of the Business Plan Variance Report and assessment of the Association’s compliance with the Business Plan shall be fully documented in the appropriate Board meeting minutes.
(b) Within sixty (60) days after the close of each quarter beginning with the quarter ending December 31, 2009, the Board shall provide the Regional Director with a copy of each Business Plan Variance Report.
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Compliance Committee and Progress Reports.
12. Within thirty (30) days, the Board shall appoint a committee of three (3) or more directors to monitor and coordinate the Association’s compliance with the Order (Compliance Committee). The Compliance Committee may be an existing Board Committee that meets the criteria of this provision. The Committee shall be comprised of independent1 directors.
13. Within forty-five (45) days of the end of each quarter, beginning with the quarter ending December 31, 2009, the Compliance Committee shall provide a written progress report to the Board, describing the actions taken by the Association to comply with each provision of this Order and the results of those actions. The Board’s consideration of the Compliance Committee’s progress report for the period, including comments and questions concerning the progress report and additional actions taken or directed by the Board, shall be reflected in the minutes of the Board’s meetings.
14. Within sixty (60) days of the end of each quarter beginning with the quarter ending December 31, 2009, a copy of the progress report for the period with any revisions or comments by the Board shall be provided to the Regional Director.
Growth.
15. Effective immediately, the Association is subject to and shall comply with the requirements and provisions of OTS Regulatory Bulletin 3b. Without the prior written approval of the Regional Director, the Association shall not increase its total assets during any quarter beginning with the quarter ending December 31, 2009 in excess of an amount equal to net
1 For this purpose the term “independent” means that the director is not: (1) a current or former officer or employee of the Association or of an affiliate or service provider of the Association; (2) a member of the immediate family (defined in 12 C.F.R. § 561.24) of a director, officer or employee of the Association or its affiliates; (3) a controlling person of the Association as defined in 12 C.F.R. § 561.14; (4) a borrower or obligor on any outstanding extension of credit from the Association except for loans secured by a lien on the borrower’s primary residence, and (5) and has not served as a consultant, advisor, underwriter, or legal counsel to the Association or its affiliates.
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interest credited on deposit liabilities during the quarter. The growth restrictions imposed by this Paragraph shall remain in effect until the Regional Director reviews and approves the Association’s Business Plan as required under Paragraph 10 of this Order. Any growth in assets, including any growth proposed in the Business Plan, should consider:
(a)
the source, volatility and use of the funds that support asset growth;
(b)
any increase in credit risk or interest rate risk as a result of growth; and
(c)
the effect of such growth on the Association’s capital.
Brokered Deposits and Interest Rate Restriction.
16. Effective immediately, the Association shall comply with the requirements of 12 C.F.R. § 337.6(b) and shall not, without obtaining the prior written waiver of the Federal Deposit Insurance Corporation (FDIC) pursuant to 12 C.F.R. § 337.6(c): (a) accept, renew or roll over any brokered deposit, as that term is defined at 12 C.F.R. § 337.6(a)(2); or (b) act as a deposit broker, as that term is defined at 12 C.F.R. § 337.6(a)(5).
Dividends.
17. Effective immediately, the Board 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. The Association’s written request for written approval should be submitted to the Regional Director at least sixty (60) days prior to the anticipated date of the proposed dividend or distribution of capital.
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Severance and Indemnification Payments.
18. Effective immediately, the Association shall not make any golden parachute payment2 or any prohibited indemnification payment3 unless, with respect to each such payment, the Association has complied with the requirements of 12 C.F.R. Part 359 and, as to indemnification payments, 12 C.F.R. § 545.121.
Directorate and Management Changes.
19. Effective immediately, the Association shall comply with the prior notification requirements for changes in directors and Senior Executive Officers4 set forth in 12 C.F.R. Part 563, Subpart H.
Employment Contracts and Compensation Arrangements.
20. (a) Effective immediately, the Association shall not enter into, renew, extend, or revise any contractual arrangement relating to compensation or benefits for any Senior Executive Officer or director of the Association, unless it first provides the Regional Director with not less than thirty (30) days prior written notice of the proposed 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 officer or director, 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.
2 The term “golden parachute payment” is defined at 12 CFR § 359.1(f).
3 The term “prohibited indemnification payment” is defined at 12 CFR § 359.1(l).
4 The term “Senior Executive Officer” is defined at 12 C.F.R. § 563.555.
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(b) Effective immediately, the Association shall not increase any salaries, bonuses, or director’s fees or make any other similar payments, directly or indirectly, to the Association’s directors or Senior Executive Officers without prior written non-objection from the Regional Director.
Third Party Contracts.
21. 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 Association5 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; (b) determined that the arrangement or contract complies with the standards and guidelines set forth in OTS Thrift Bulletin 82a; and (c) received written notice of non-objection from the Regional Director.
Transactions with Affiliates.
22. Effective immediately, the Association shall not engage in any 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 all transactions with an affiliate for which a notice is submitted pursuant to this Paragraph of the Order shall comply with the requirements of 12 C.F.R. § 563.41 and 12 C.F.R. Part 223.
Effective Date, Incorporation of Stipulation.
23. 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.
5 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.
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Duration.
24. 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.
25. 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.
26. The Regional Director 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.
27. All submissions, including any reports, to the OTS that are required by or contemplated by this Order shall be submitted within the specified timeframes.
28. 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, 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
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(b) To the Association:
Chairman of the Board
Park View Federal Savings Bank
30000 Aurora Road
Solon, Ohio 44139-2728
Facsimile: (440) 914-3916
No Violations Authorized.
29. 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
Date: See Effective Date on page 1
UNITED STATES OF AMERICA
Before the
OFFICE OF THRIFT SUPERVISION
)
In the Matter of ) Order No.: CN 09-34
)
)
PARK VIEW FEDERAL ) Effective Date: October 19, 2009
SAVINGS BANK )
)
Solon, Ohio )
OTS Docket No. 01195 ) )
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 Park View Federal Savings Bank, Solon, Ohio, OTS Docket No. 01195 (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 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:
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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 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 its May 4, 2009 examination of the Association, the OTS finds that the Association has engaged in unsafe or unsound banking practices that resulted in operating the Association with an excessive level of adversely classified assets; an inadequate allowance for loan and lease losses (ALLL) for the volume, type, and quality of loans held; and an inadequate level of capital protection for the volume, type, and quality of assets held by the Association.
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 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).
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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 if at any time the OTS deems it appropriate to do so to fulfill the responsibilities 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.
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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 in writing by the OTS, acting through its Regional Director.
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.
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WHEREFORE, the Association, by its directors, executes this Stipulation.
Accepted by:
PARK VIEW FEDERAL SAVINGS BANK OFFICE OF THRIFT SUPERVISION
Solon, Ohio
By: /s/ By:_ /s/
Mark D. Grossi, Chairman Daniel T. McKee
Regional Director, Central Region /s/ Date: See Effective Date on page 1
Marty E. Adams, Director /s/
Steven A. Calabrese, Director /s/
Umberto P. Fedeli, Director /s/
Robert K. Healey, Director /s/
Ronald D. Holman, II, Director /s/
Stanley T. Jaros, Director /s/
Robert J. King, Jr., Director
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/s/
John R. Male, Director /s/
Raymond J. Negrelli, Director /s/
Stuart D. Neidus, Director /s/
C. Keith Swaney, Director

New Peoples Bank Honaker VA

May 9, 2011

Check out the new site the breast are even bigger!

capital2risk.com

Which one of these fat cat banksters has the biggest breasts?

Don’t worry even if you are on the problem bank list, there is still time to play golf 


These are the clowns on the problem bank list, good thing they have time to play golf

Judging by their stomachs they are not going hungry, they also have breasts?

This is Jonathon Mullins

Why is the fat bankster smiling? He makes $192,000 a year

This joker is on the problem bank list with $70,000,000 in problem loans

This guys head is fatter than the problem loan portfolio

New Peoples Bank Honaker, VA was founded in 1998.  The company is on the problem bank list as it entered into a consent agreement with the regulators for deficient commercial real estate lending, as evidenced by the Texas ratio of 62%.

The company has $856MM in assets with $64MM in equity.

This is Frank Sexton,this guy ran this bank into the ground

Frank makes $198,000 a year to engage in deficient commercial lending

However, the problem loan portfolio is phenomenal in relation to the equity position.  They have $13MM in loans that are 30-90 days past due, there are $57MM of loans on non accrual.

The non accrual loans alone should eradicate the equity base.

There are $70MM in bad loans with $56MM in equity, this place is bankrupt!

This Karen Wimmer, she makes all the junk loans

Why is this place not closed down?

At least the executive compensation has not been impacted.

Jonathon Mullins    made  $192K

Kenneth Hart         made $359K

Frank Senton         made $198K

That is good pay for destroying a company.

Do you have your money in this bank?

New Peoples? this place should be put in a rest home

Good night Irene

How about whacking Kenneth Hart for wiping this place out?

This clown lost another $2.5MM in Q3 2011

Kenneth Hart makes $359k a year to lose $2.5MM a quarter.

“New Peoples”?

Check out the website, these “New People are selling this beautiful property for only $225,000?

This place should be shut down, how about on Friday.

They are selling this for only $395,000

Mission Statement

The mission of New Peoples Bankshares is to provide high quality, state of the art, golden rule banking services to our communities while giving a reasonable return to our stockholders and providing a challenging and rewarding work environment for our family of employees.

  • We believe we have to serve our customers and exceed their expectations.
  • We believe in being honest in all our dealings, both with customers, and with our employees.
  • We are committed to remain a locally owned and operated financial institution.

Ten Core Values

  • Trust is the foundation of all successful relationships. We will earn your trust.
  • When we help you succeed, we succeed together!
  • We will treat every person, regardless of gender, age, or race with respect & dignity.
  • Many of our people are owners in the bank; owners are highly motivated to provide unparalleled personal service.
  • We keep our commitments.
  • We will provide innovative products & competitive pricing
  • We are dedicated to constant communication with our customers.
  • Your business should be confidential…..period!
  • We believe in continuing education and training to be the best in serving your financial needs.
  • We will make our community a better place to live.

UNITED STATES OF AMERICA
BEFORE THE
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
WASHINGTON, D.C.
STATE CORPORATION COMMISSION
BUREAU OF FINANCIAL INSTITUTIONS
RICHMOND, VIRGINIA
Written Agreement by and among
NEW PEOPLES BANKSHARES, INC.
Honaker, Virginia
NEW PEOPLES BANK, INC.
Honaker, Virginia
FEDERAL RESERVE BANK
OF RICHMOND
Richmond, Virginia
and
STATE CORPORATION COMMISSION
BUREAU OF FINANCIAL INSTITUTIONS
Richmond, Virginia
Docket No. 10-148-WA/RB-BHC
10-148-WA/RB-SM
WHEREAS, in recognition of their common goal to maintain the financial soundness of
New Peoples Bankshares, Inc., Honaker, Virginia (“NPBI”), a registered bank holding
company, and its subsidiary bank, New Peoples Bank, Inc., Honaker, Virginia (the “Bank”), a
state-chartered bank that is a member of the Federal Reserve System, NPBI, the Bank, the
Federal Reserve Bank of Richmond (the “Reserve Bank”), and the State Corporation
Commission Bureau of Financial Institutions (the “Bureau”) have mutually agreed to enter into
this Written Agreement (the “Agreement”); and
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WHEREAS, on July 27, 2010, NPBI’s and the Bank’s boards of directors, at duly
constituted meetings, adopted resolutions authorizing and directing
Michael G. McGlothlin, to consent to this Agreement on behalf of NPBI and the Bank, and
consenting to compliance with each and every applicable provision of this Agreement by NPBI,
the Bank, and their institution-affiliated parties, as defined in sections 3(u) and 8(b)(3) of the
Federal Deposit Insurance Act, as amended (the “FDI Act”) (12 U.S.C. §§ 1813(u) and
1818(b)(3)).
NOW, THEREFORE, NPBI, the Bank, the Reserve Bank, and the Bureau agree as
follows:
Source of Strength
1. The board of directors of NPBI shall take appropriate steps to fully utilize NPBI’s
financial and managerial resources, pursuant to section 225.4(a) of Regulation Y of the Board of
Governors of the Federal Reserve System (the “Board of Governors”) (12 C.F.R. § 225.4(a)), to
serve as a source of strength to the Bank, including, but not limited to, taking steps to ensure that
the Bank complies with this Agreement and any other supervisory action taken by the Bank’s
federal or state regulators.
Board Oversight
2. Within 60 days of this Agreement, the Bank’s board of directors shall submit to
the Reserve Bank and the Bureau a written plan to strengthen board oversight of the management
and operations of the Bank. The plan shall, at a minimum, address, consider, and include:
(a) The actions that the board of directors will take to improve the Bank’s
condition and maintain effective control over, and supervision of, the Bank’s major operations
3
and activities, including but not limited to, credit risk management, processes to mitigate risks
associated with credit concentrations, capital, earnings, funds management, and audit;
(b) the responsibility of the board of directors to monitor management’s
adherence to approved policies and procedures, and applicable laws and regulations;
(c) a description of the information and reports that will be regularly reviewed
by the board of directors in its oversight of the operations and management of the Bank,
including information on the Bank’s adversely classified assets, watch list, concentrations of
credits, allowance for loan and lease losses (“ALLL”), capital, liquidity, earnings, and response
to audit and examination findings; and
(d) the maintenance of adequate and complete minutes of all board and
committee meetings, approval of such minutes, and their retention for supervisory review.
Corporate Governance and Management Review
3. (a) Within 30 days of this Agreement, the board of directors of the Bank shall
retain an independent consultant acceptable to the Reserve Bank and the Bureau to assess the
effectiveness of the Bank’s corporate governance, board and management structure (the
“Review”), to assess staffing needs, and to prepare a written report of findings and
recommendations (the “Report”). The Review shall, at a minimum, address, consider, and
include:
(i) the qualifications and performance of each of the Bank’s senior
executive officers to determine whether the individual possesses
the ability, experience, and other qualifications to competently
perform present and anticipated duties, including their ability to:
adhere to applicable laws and regulations and the Bank’s
4
established policies and procedures; restore and maintain the Bank
to a safe and sound condition; and comply with the requirements of
this Agreement;
(ii) the identification of present and future management and staffing
needs for each area of the Bank, particularly in the areas of credit
risk management, lending and credit administration, loan review,
and problem asset workout; and
(iii) an assessment of the current structure, qualifications, and
composition of the board of directors and their committees, and a
determination of the structure and composition needed to
adequately supervise the affairs of the Bank.
(b) Within 10 days of the Reserve Bank’s and the Bureau’s approval of the
Bank’s independent consultant selection, the Bank shall submit an engagement letter to the
Reserve Bank and the Bureau for approval. The engagement letter shall require the independent
consultant to submit the Report within 30 days of regulatory approval of the engagement letter
and to provide a copy of the Report to the Reserve Bank and the Bureau at the same time that it
is provided to the Bank’s board of directors.
4. Within 30 days of receipt of the Report the Bank’s board of directors shall submit
a written management plan to the Reserve Bank and the Bureau that fully addresses the findings
and recommendations in the independent consultant’s Report and describes the specific actions
that the board of directors proposes to take in order to strengthen the Bank’s management and
corporate governance, and to hire, as necessary, additional or replacement directors, officers or
staff to properly oversee, manage and operate the Bank.
5
Credit Risk Management
5. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and
the Bureau an acceptable written plan to strengthen credit risk management practices. The plan
shall, at a minimum, address, consider, and include:
(a) The responsibility of the board of directors to establish appropriate risk
tolerance guidelines and risk limits;
(b) periodic review and revision of risk exposure limits to address changes in
market conditions;
(c) timely and accurate identification and quantification of credit risk within
the loan portfolio;
(d) strategies to minimize credit losses and reduce the level of problem assets;
(e) enhanced stress testing of loan portfolio segments; and
(f) enhanced watch list reporting.
Concentrations of Credit
6. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and
the Bureau an acceptable written plan to strengthen the Bank’s management of commercial real
estate (“CRE”) concentrations, including steps to reduce the risk of concentrations. The plan
shall, at a minimum, include:
(a) Procedures to identify, limit, and manage concentrations of credit that are
consistent with the Interagency Guidance on Concentrations in Commercial Real Estate Lending,
Sound Risk Management Practices, dated December 12, 2006 (SR 07-1);
(b) a schedule for reducing and the means by which the Bank will reduce the
level of CRE concentrations, and timeframes for achieving the reduced levels; and
6
(c) enhanced monitoring and reporting of CRE concentrations to management
and the board of directors.
Lending and Credit Administration
7. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and
the Bureau an acceptable written lending and credit administration program that shall, at a
minimum, address, consider, and include:
(a) Documented analysis of the borrower’s and guarantor’s repayment
sources, credit worthiness, global cash flow, leverage, liquidity, and overall debt services ability;
(b) types of financial and collateral information that must be obtained and the
timing and frequency for receipt of such information;
(c) standards for renewing, extending, or modifying existing loans;
(d) ongoing assessment, inspection, and reporting of real estate development
project status;
(e) appropriate controls on loan draws, including, but not limited to, a
description of the documents necessary to support the draw;
(f) monitoring and reporting of exceptions to loan policies and procedures;
(g) policies and procedures to minimize financial and document exceptions;
(h) standards for the management of collateral including accurate and timely
valuation of collateral; and
(i) procedures for monitoring loan participations.
Loan Review
8. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and
the Bureau an acceptable written program for the ongoing review and grading of the Bank’s loan
7
portfolio by a qualified independent party or by qualified staff that is independent of the Bank’s
lending function. The program shall, at a minimum, address, consider, and include:
(a) The scope and frequency of the loan review;
(b) standards and criteria for assessing the credit quality of the loans;
(c) application of loan grading standards and criteria to the loan portfolio; and
(d) quarterly written reports to the board of directors that identify the status of
those loans that are adversely graded and the prospects for full collection or strengthening of the
quality of any such loans.
Asset Improvement
9. The Bank shall not, directly or indirectly, extend, renew, or restructure any credit
to or for the benefit of any borrower, including any related interest of the borrower, whose loans
or other extensions of credit are criticized in the report of examination of the Bank conducted by
the Reserve Bank that commenced on September 14, 2009 (the “Report of Examination”) or in
any subsequent report of examination, without the prior approval of a majority of the full board
of directors or a designated committee thereof. The board of directors or its committee shall
document in writing the reasons for the extension of credit, renewal, or restructuring,
specifically certifying that: (i) the Bank’s risk management policies and practices for loan
workout activity are acceptable; (ii) the extension of credit is necessary to improve and protect
the Bank’s interest in the ultimate collection of the credit already granted and maximize its
potential for collection; (iii) the extension of credit reflects prudent underwriting based on
reasonable repayment terms and is adequately secured; and all necessary loan documentation has
been properly and accurately prepared and filed; (iv) the Bank has performed a comprehensive
credit analysis indicating that the borrower has the willingness and ability to repay the debt as
8
supported by an adequate workout plan, as necessary; and (v) the board of directors or its
designated committee reasonably believes that the extension of credit will not impair the Bank’s
interest in obtaining repayment of the already outstanding credit and that the extension of credit
or renewal will be repaid according to its terms. The written certification shall be made a part of
the minutes of the meetings of the board of directors or its committee, as appropriate, and a copy
of the signed certification, together with the credit analysis and related information that was used
in the determination, shall be retained by the Bank in the borrower’s credit file for subsequent
supervisory review. For purposes of this Agreement, the term “related interest” is defined as set
forth in section 215.2(n) of Regulation O of the Board of Governors of the Federal Reserve
System (the “Board of Governors”) (12 C.F.R. § 215.2(n)).
10. (a) Within 60 days of this Agreement, the Bank shall submit to the Reserve
Bank and the Bureau an acceptable written plan designed to improve the Bank’s position through
repayment, amortization, liquidation, additional collateral, or other means on each loan or other
asset in excess of $1,000,000, including OREO, that: (i) is past due as to principal or interest
more than 90 days as of the date of this Agreement; (ii) is on the Bank’s problem loan list; or
(iii) was adversely classified in the Report of Examination. In developing the plan for each loan,
the Bank shall, at a minimum, review, analyze, and document the financial position of the
borrower, including source of repayment, repayment ability, and alternative repayment sources,
as well as the value and accessibility of any pledged or assigned collateral, and any possible
actions to improve the Bank’s collateral position.
(b) Within 30 days of the date that any additional loan or other asset in excess
of $1,000,000, including OREO: (i) becomes past due as to principal or interest for more than
90 days; (ii) is on the Bank’s problem loan list; or (iii) is adversely classified in any subsequent
9
report of examination of the Bank, the Bank shall submit to the Reserve Bank and the Bureau an
acceptable written plan to improve the Bank’s position on such loan or asset.
(c) Within 30 days after the end of each calendar quarter thereafter, the Bank
shall submit a written progress report to the Reserve Bank and the Bureau to update each asset
improvement plan, which shall include, at a minimum, the carrying value of the loan or other
asset and changes in the nature and value of supporting collateral, along with a copy of the
Bank’s current problem loan list, a list of all loan renewals and extensions without full collection
of interest in the last quarter, and past due/non-accrual report. The board of directors shall
review the progress reports before submission to the Reserve Bank and the Bureau and shall
document the review in the minutes of the board of directors’ meetings.
Allowance for Loan and Lease Losses
11. (a) Within 10 days of this Agreement, the Bank shall eliminate from its
books, by charge-off or collection, all assets or portions of assets classified “loss” in the Report
of Examination that have not been previously collected in full or charged off. Thereafter the
Bank shall, within 30 days from the receipt of any federal or state report of examination, charge
off all assets classified “loss” unless otherwise approved in writing by the Reserve Bank and the
Bureau.
(b) Within 60 days of this Agreement, the Bank shall review and revise its
ALLL methodology consistent with relevant supervisory guidance, including the Interagency
Policy Statements on the Allowance for Loan and Lease Losses, dated July 2, 2001 (SR 01-17
(Sup)) and December 13, 2006 (SR 06-17), and the findings and recommendations regarding the
ALLL set forth in the Report of Examination, and submit a description of the revised
methodology to the Reserve Bank and the Bureau. The revised ALLL methodology shall be
10
designed to maintain an adequate ALLL and shall address, consider, and include, at a minimum,
the reliability of the Bank’s loan grading system, the volume of criticized loans, concentrations
of credit, the current level of past due and nonperforming loans, past loan loss experience,
evaluation of probable losses in the Bank’s loan portfolio, including adversely classified loans,
and the impact of market conditions on loan and collateral valuations and collectibility.
(c) Within 60 days of this Agreement, the Bank shall submit to the Reserve
Bank and the Bureau an acceptable written program for the maintenance of an adequate ALLL.
The program shall include policies and procedures to ensure adherence to the revised ALLL
methodology and provide for periodic reviews and updates to the ALLL methodology, as
appropriate. The program shall also provide for a review of the ALLL by the board of directors
on at least a quarterly calendar basis. Any deficiency found in the ALLL shall be remedied in
the quarter it is discovered, prior to the filing of the Consolidated Reports of Condition and
Income, by additional provisions. The board of directors shall maintain written documentation
of its review, including the factors considered and conclusions reached by the Bank in
determining the adequacy of the ALLL. During the term of this Agreement, the Bank shall
submit to the Reserve Bank and the Bureau, within 30 days after the end of each calendar
quarter, a written report regarding the board of directors’ quarterly review of the ALLL and a
description of any changes to the methodology used in determining the amount of ALLL for that
quarter.
Capital Plan
12. Within 60 days of this Agreement, NPBI and the Bank shall submit to the Reserve
Bank and the Bureau an acceptable joint written plan to maintain sufficient capital at NPBI on a
11
consolidated basis, and the Bank as a separate legal entity on a stand-alone basis. The plan shall,
at a minimum, address, consider, and include:
(a) NPBI’s current and future capital requirements, including compliance with
the Capital Adequacy Guidelines for Bank Holding Companies: Risk-Based Measure and Tier 1
Leverage Measure, Appendices A and D of Regulation Y of the Board of Governors (12 C.F.R.
Part 225, App. A and D);
(b) the Bank’s current and future capital requirements, including compliance
with the Capital Adequacy Guidelines for State Member Banks: Risk-Based Measure and Tier 1
Leverage Measure, Appendices A and B of Regulation H of the Board of Governors (12 C.F.R.
Part 208, App. A and B);
(c) the adequacy of the Bank’s capital, taking into account the volume of
classified assets, concentrations of credit, the adequacy of the ALLL, current and projected asset
growth, projected retained earnings, and anticipated and contingency funding needs;
(d) the source and timing of additional funds to fulfill NPBI’s and the Bank’s
future capital requirements; and
(e) the requirements of section 225.4(a) of Regulation Y of the Board of
Governors (12 C.F.R. § 225.4(a)) that NPBI serve as a source of strength to the Bank.
13. NPBI and the Bank shall notify the Reserve Bank and the Bureau, in writing, no
more than 30 days after the end of any calendar quarter in which any of NPBI’s consolidated
capital ratios or the Bank’s capital ratios (total risk-based, Tier 1 risk-based, or leverage) fall
below the approved capital plan’s minimum ratios. Together with the notification, the NPBI and
the Bank shall submit an acceptable written plan that details the steps NPBI or the Bank, as
12
appropriate, will take to increase NPBI’s or the Bank’s capital ratios to or above the approved
capital plan’s minimums.
Strategic Plan and Budget
14. (a) Within 90 days of this Agreement, the Bank shall submit to the Reserve
Bank and the Bureau a strategic plan to improve the Bank’s earnings and a budget for 2010. The
written plan and budget shall include, but not be limited to:
(i) Identification of the major areas where, and means by which, the
board of directors will seek to improve the Bank’s operating performance;
(ii) a realistic and comprehensive budget for calendar year 2010,
including income statement and balance sheet projections; and
(iii) a description of the operating assumptions that form the basis for,
and adequately support, major projected income, expense, and balance sheet components.
(b) A strategic plan and budget for each calendar year subsequent to 2010
shall be submitted to the Reserve Bank and the Bureau at least 30 days prior to the beginning of
that calendar year.
Liquidity and Funds Management
15. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and
the Bureau an acceptable written plan designed to improve management of the Bank’s liquidity
position and funds management practices. The plan shall, at a minimum, address, consider, and
include:
(a) Measures to enhance the monitoring, measurement, and reporting of the
Bank’s liquidity to the board of directors; and
13
(b) specific liquidity targets and parameters and the maintenance of sufficient
liquidity to meet contractual obligations and unanticipated demands.
16. Within 60 days of this Agreement, the Bank shall submit to the Reserve Bank and
the Bureau an acceptable revised written contingency funding plan that, at a minimum, identifies
available sources of liquidity and includes adverse scenario planning.
Dividends and Distributions
17. (a) The Bank shall not declare or pay any dividends without the prior written
approval of the Reserve Bank, the Director of the Division of Banking Supervision and
Regulation of the Board of Governors (the “Director”), and the Bureau.
(b) NPBI shall not declare or pay any dividends without the prior written
approval of the Reserve Bank, the Director, and the Bureau.
(c) NPBI shall not take any other form of payment representing a reduction in
capital from the Bank without the prior written approval of the Reserve Bank and the Bureau.
(d) NPBI and its nonbank subsidiaries shall not make any distributions of
interest, principal, or other sums on subordinated debentures or trust preferred securities without
the prior written approval of the Reserve Bank, the Director, and the Bureau.
(e) All requests for prior approval shall be received at least 30 days prior to
the proposed dividend declaration date, proposed distribution on subordinated debentures, and
required notice of deferral on trust preferred securities. All requests shall contain, at a minimum,
current and projected information, as appropriate, on the parent’s capital, earnings, and cash
flow; the Bank’s capital, asset quality, earnings and ALLL needs; and identification of the
sources of funds for the proposed payment or distribution. For requests to declare or pay
dividends, NPBI and the Bank, as appropriate, must also demonstrate that the requested
14
declaration or payment of dividends is consistent with the Board of Governors’ Policy Statement
on the Payment of Cash Dividends by State Member Banks and Bank Holding Companies, dated
November 14, 1985 (Federal Reserve Regulatory Service, 4-877 at page 4-323), and
Section 6.1-56 of the Code of Virginia.
BSA/AML Compliance
18. Within 90 days of this Agreement, the Bank shall submit to the Reserve Bank and
the Bureau an acceptable written plan to enhance the Bank’s anti-money laundering (“AML”)
internal controls, training, and independent testing and to ensure the Bank’s compliance with all
applicable federal laws, rules, and regulations relating to AML, including the Bank Secrecy Act
(“BSA”) (31 U.S.C. § 5311 et seq.); the rules and regulations issued thereunder by the U.S.
Department of the Treasury (31 C.F.R. Part 103); and the AML requirements of Regulation H of
the Board of Governors (12 C.F.R. § 208.63).
Debt and Stock Redemption
19. (a) NPBI, and its nonbank subsidiaries, shall not, directly or indirectly, incur,
increase, or guarantee any debt without the prior written approval of the Reserve Bank and the
Bureau. All requests for prior written approval shall contain, but not be limited to, a statement
regarding the purpose of the debt, the terms of the debt, and the planned source(s) for debt
repayment, and an analysis of the cash flow resources available to meet such debt repayment.
(b) NPBI shall not, directly or indirectly, purchase or redeem any shares of its
stock without the prior written approval of the Reserve Bank and the Bureau.
Compliance with Laws and Regulations
20. (a) In appointing any new director or senior executive officer, or changing the
responsibilities of any senior executive officer so that the officer would assume a different senior
15
executive officer position, the Bank shall comply with the notice provisions of section 32 of the
FDI Act (12 U.S.C. § 1831i) and Subpart H of Regulation Y of the Board of Governors
(12 C.F.R. §§ 225.71 et seq.).
(b) The Bank shall comply with the restrictions on indemnification and
severance payments of section 18(k) of the FDI Act (12 U.S.C. § 1828(k)) and Part 359 of the
Federal Deposit Insurance Corporation’s regulations (12 C.F.R. Part 359).
Compliance with the Agreement
21. (a) Within 10 days of this Agreement, the boards of directors NPBI and the
Bank shall appoint a joint committee (the “Compliance Committee”) to monitor and coordinate
the compliance with the provisions of this Agreement. The Compliance Committee shall include
a majority of outside directors who are not executive officers of NPBI or the Bank or principal
shareholders of NPBI, as defined in sections 215.2(e)(1) and 215.2(m)(1) of Regulation O of the
Board of Governors (12 C.F.R. §§ 215.2(e)(1) and 215.2(m)(1)). At a minimum, the
Compliance Committee shall meet at least monthly, keep detailed minutes of each meeting, and
report its findings to the boards of directors of the NPBI and the Bank.
(b) Within 30 days after the end of each calendar quarter following the date of
this Agreement, NPBI and the Bank shall submit to the Reserve Bank and the Bureau written
progress reports detailing the form and manner of all actions taken to secure compliance with
this Agreement and the results thereof.
Approval and Implementation of Plans, Program, and Engagement Letter
22. (a) The written plans, program, and an engagement letter required by
paragraphs 3(b), 5, 6, 7, 8, 10(a), 10(b), 11(c), 12, 13, 15, 16, and 18 of this Agreement shall be
submitted to the Reserve Bank and the Bureau for review and approval. Acceptable plans,
program, and engagement letter shall be submitted within the time periods set forth in the
16
Agreement. An independent consultant acceptable to the Reserve Bank and the Bureau shall be
retained in the time period set forth in paragraph 3(a).
(b) Within 10 days of approval by the Reserve Bank and the Bureau, the Bank
shall adopt the approved plans, program, and engagement letter. Upon adoption, the Bank shall
promptly implement the approved plans, program, and engagement letter and thereafter fully
comply with them.
(c) During the term of this Agreement, the approved plans, program, and
engagement letter shall not be amended or rescinded without the prior written approval of the
Reserve Bank and the Bureau.
Communications
23. All communications regarding this Agreement shall be sent to:
(a) Eugene W. Johnson, Jr.
Vice President
Federal Reserve Bank of Richmond
P.O. Box 27622
Richmond, Virginia 23261-7622
(b) John M. Crockett
Deputy Commissioner
State Corporation Commission Bureau of Financial Institutions
P.O. Box 640
Richmond, Virginia 23218
(c) Michael G. McGlothlin
Chairman of the Board
New Peoples Bankshares, Inc.
New Peoples Bank, Inc.
67 Commerce Street
Honaker, Virginia 24260
17
(d) Jonathan D. Mullins
President and Chief Executive Officer
New Peoples Bankshares, Inc.
New Peoples Bank, Inc.
67 Commerce Street
Honaker, Virginia 24260
Miscellaneous
24. Notwithstanding any provision of this Agreement, the Reserve Bank and the
Bureau may, in their sole discretion, grant written extensions of time to NPBI and the Bank to
comply with any provision of this Agreement.
25. The provisions of this Agreement shall be binding upon NPBI and the Bank and
their institution-affiliated parties, in their capacities as such, and their successors and assigns.
26. Each provision of this Agreement shall remain effective and enforceable until
stayed, modified, terminated, or suspended in writing by the Reserve Bank and the Bureau.
27. The provisions of this Agreement shall not bar, estop, or otherwise prevent the
Board of Governors, the Reserve Bank, the Bureau, or any other federal or state agency from
taking any other action affecting NPBI and the Bank or any of their current or former institutionaffiliated
parties and their successors and assigns.
18
28. Pursuant to section 50 of the FDI Act (12 U.S.C. § 1831aa), this Agreement is
enforceable by the Board of Governors under section 8 of the FDI Act (12 U.S.C. § 1818).
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of
the 29th day of July, 2010.
NEW PEOPLES BANKSHARES, INC. FEDERAL RESERVE BANK OF
RICHMOND
By: /s/ Michael G. McGlothlin By: /s/ Eugene W. Johnson, Jr.
Michael G. McGlothlin Eugene W. Johnson, Jr.
Chairman of the Board Vice President
NEW PEOPLES BANK, INC. STATE CORPORATION COMMISSION
BUREAU OF FINANCIAL
INSTITUTIONS
By: /s/ Michael G. McGlothlin By: /s/ John M. Crockett
Michael G. McGlothlin John M. Crockett
Chairman of the Board Deputy Commissioner

Bankers Bank of the West Denver CO

May 9, 2011

Bankers Bank of the West Denver, CO was founded in 1980.  The company took $12MM in tax payer funded bailout money, which it has neglected to repay.  Then again, they haven’t even made a dividend payment on these funds since 11/10. Not a bad deal.  This allowed them to become a member of the problem bank list.  They entered into a written agreement with regulators for general incompetence.  The Texas ratio is an incredible 75%.

They owe the tax payer $527k in unpaid interest.

The net income for Q1 was $622k, why don’t they use this to pay back interest to tax payer?

The company has assets of $387MM with $31MM in equity.

The loan portfolio has $34MM in non accrual.

So they have $34MM in bad loans with only $31MM in equity?

This place is bankrupt.

Why hasn’t it been shut down?

This management team was able to wipe out 35% of the equity position.

How are they going to pay the tax payer back the $12MM?

They can’t, this thing is insolvent

This is the Bankers Bank?

What does a non Bankers Bank look like?

William Mitchell is the CEO.  This guy is one savvy banker.

William, the tax payer wants the $12MM back, how about at least paying interest on the money you stole.

Check out their motto “imagination is the highest kite in the sky”

Can you imagine a balance sheet this bad?

Do you have money in this place?

You should head for the great divide.

First Central Savings Bank Glen Cove, NY

May 8, 2011

This is on of the worst banks in New York

The Texas ratio is 100%

Do you have money in this bankrupt disaster?

They lost over $7,000,000 in Q4 2011 alone

This place is history

Take a look at the website, they won’t even tell you who the CEO is, do you money in this disaster?

First Central Savings Bank Glen Cove, NY was founded in 1999.  They have the distinction of being on the problem bank list, as they have entered into a consent agreement with the FDIC.  They were cited for inadequate management, asset quality and earnings.  Maybe that is why the Texas ratio is 93%, making it the 3rd worst bank in NY.

The company has assets of $636MM with equity of $40MM.

The problem loan situation is phenomenal.  They have $21MM in loans 30-90 days past due, with $42MM that are 90+ days past and $44MM in non accrual.

That is $107MM in bad loans with only $40MM in equity.

This place is insolvent!

Why haven’t they been shut down?

Macatawa Bank Holland, MI

May 8, 2011

This Ronald Haan CEO

His bank is on the problem bank list

He makes $286k

Macatawa Bank Holland, MI was founded in 1977.  They became a member of the problem bank list when it entered into a consent agreement with the FDIC.  It was cited for incompetent commercial real estate lending.

The company has $1.5B in assets and $107MM in equity.

The problem loan portfolio is profound.  The company has $5MM in loans 30-90 days past due, an incredible $66MM of non accruals.

Get this, there are $69MM in problem loans with only $107MM in equity.

The equity position declined by 120% in the last 3 years!

This bank is technically insolvent.

Why isn’t this place closed down.

Net income was ($17MM) in FY10 and ($66MM) in FY09, not bad.

Have no fear, the executives were still well compensated.

Ronald Haan made $286K

Jon Swets     made $200K

Jill Wilson     made $155K

Not bad pay for wiping out this institution!

Ronald Haan makes $286k to lose $83MM.

This guy has got it made, image what he would pay himself if they actually made money.

He would be worth a $1MM a year not to lose $83MM.

First M&F Bank Kosiusko, Mississippi

May 8, 2011

First M&F Bank Kosiusko, Mississippi was founded in 1890.  The company took $30MM in tax payer funded bailout money, which it has neglected to pay back. For some reason they are not on the problem bank list, despite having a Texas ratio of 40%.

The company has assets of $1.4B and stated equity of $102MM.

The actual equity is probably closer to $72MM, as the preferred stock is really debt.

The problem loan portfolio is impressive.  They have $11MM in loans 30-90 days past, due with $45MM on non accrual.

The non accrual alone could wipe out the equity base.

Check out the properties for sale on their website, they have a nice array of vacant land for sale.

This place is probably technically insolvent.

How are they going to pay the tax payer back?

Don’t worry the executive compensation remains strong.

Hugh Potts made $368MM

John Copeland   made $197K

Jeffrey Lacey     made $203K

Good  pay for creating this level of problem assets.

First Busey Bank Champaign Illinois

April 28, 2011

This is Van Duekman, he took $100,000,000 in bailout money which he won’t pay back

He made $718k last year

They might as hire this guy to run the place he can’t be any worse than Van

First Busey Bank Champaign, Ill was founded in 1946.  The bank took $100MM in tax payer funded bailout money and has made no effort to repay the tax payer.  The Texas ratio was 16%.

The company has $3.5B in assets with $2.2B in loans and $378MM in equity.

Problem loans consisted of $26MM in loans 30-90 days past due, there are $83MM in non accrual and $90MM in OREO.

Net income was $23MM in FY10 and ($317MM) in FY09.

The equity position is actually $278MM when you back out the $100M in the tax payer loan, this is debt not equity.  The high level of problem loans could effectively wipe out the equity base.

It is unclear how this bank will ever pay back the $100MM to the tax payer.

Don’t worry at least the executive compensation has not been impacted in FY10.

Van Duekman    was paid $718K

Barbara Harrinton made $280K

Robert Plecki            earned $329K

David White              made $308K.

At $718k a year and a $100MM in tax payer money, Van Duekman is drinking some champagne.

The  market capitalization was $486MM.  This seems high based on the high levels of problem loans.

The question is when are they going to start paying back the tax payer funding, maybe they could use the $23MM in earnings from FY10 to start repaying this debt. How about if the executives take a pay cut!

Do you have money in this  bank?

Bank of Hampton Roads Norfolk, VA

April 27, 2011

This Jack Gibson, he ran this place into the ground

Bank of Hampton Roads Norfolk, VA received $77MM in government bailout funding, none of which has been repaid!  The company entered into a written agreement with the FED on 6/17/10 and is on the problem bank list.  The Texas ratio is 90%. The Texas ratio actually would skyrocket if the government bailout is backed out of the equity base.

The company has assets of $2.5B, with loans of $1.6B and equity of $183MM.

Problem loans consist of $22MM that are 30-90 days past due, $130MM are on non accrual with $57MM in OREO.

The operating performance is not exactly stellar.  NI was ($95MM) in FY09 and ($208MM) in FY10.

The equity position appears tenuous with $183MM of equity, however $77MM is taxpayer funding which is actually debt not equity!  Equity is probably $103MM but there is $209MM in problem loans.  The company is probably technically insolvent.

It is difficult to see how they are going to pay back the $77MM in government funding based on the financial performance.

Don’t worry the executives haven’t been impacted.

John Davie made $436K

Neil Petrovich made $304K

Lorelle Fritsch made $208K

David Twiddy made $740K

Douglas Glenn made $530K

Kevin Pack made $373K

Jack Gibson “earned” $1.5MM

It should be noted that the compensation included funding for personal automobiles and country club memberships.

That is pretty good pay for destroying a company! Pretty cool if the tax payer pays for your country club membership. Fore play.

This team paid themselves $4MM to generate $303MM in loses.  Jack Gibson is living large on $1.5MM in Norfolk.

Jack Gibson gets to play golf while he refuses to pay back $77MM he stole from the tax payer.

Do you have money in this bankrupt bank?

Atlantic Southern Bank Macon, GA

April 26, 2011

Atlantic Southern Bank Macon, GA was founded in 2001.  They have entered into a cease and desist agreement with the FDIC on 9/11/09.  They were cited for failure of the board to supervise, management policies that were harmful to the bank, inadequate capital,  poor quality loans and operating to produce losses.  The Texas ratio is 500%!  The stock is delisted.

They have $781MM in assets, $561MM in loans and $20MM in equity.

Problem loans are $17MM 30-90 days past due, $9MM over 90 days , with $106MM on non accrual and $73MM in OREO.

The levels of problem loans in relation to equity is staggering.

NI was ($37MM) in FY08, ($18MM) in FY10.

The equity position has been significantly eroded, declining from $98MM in FY08 to $20MM in FY10.  That is a decline of 390%.

Based on the level of problem loans and the levels of equity, they are probably technically insolvent.

They have not posted the FY10 annual report

The River Bank Wyoming Minnesota

April 20, 2011

The River Bank Wyoming, Minnesota was founded in 1908.  On 3/11/09 they entered into a consent order with the FDIC.  They were cited for inadequate capitalization, inadequate capital and hazardous lending.   The Texas ratio is 245% .

In Q2, they lost $8MM whereby, wiping out 113% of the equity.  The equity position is down to $7MM.  This place is going down the river fast.

Go to the website and check out the real estate for sale.  This place likes to finance raw land.  Is this a bank or a real estate company?

The bank has $432MM in assets with $315MM in loans.

Loans that were 30-90 days past due are $5MM, non accrual assets were $59MM and OREO is $42MM.

NI of ($19MM) in FY09 and ($7MM) in FY10.

The equity position eroded from $44MM in FY08 down to $21MM in FY10, a 110% decline.

Given the fact that FDIC is bankrupt, would you keep your money in this place?

They have $21MM in capitalization to support the $106MM in problem loans.

This place is bankrupt, the management team has done a good job at wiping out a 114 year old institution.

Hazardous lending?

The CEO Craig Danielson did an admirable job bankrupting this place.  The bank survived the great depression but it won’t survive Greg Danielson.

Given the fact that the FDIC is bankrupt, would you keep your money in this place?

Eastern Savings Bank Hunt Valley Maryland

April 18, 2011

Check out the website we are linked to the FDIC

CAPITAL2RISK.COM

occupywallstreet.com

Beth Goldsmith runs this disaster, she is running a train wreck 

This is one of the worst banks in the state

Good thing these dopes have time to golf

These clowns are sitting on $272,000,000 in bad loans and are playing golf?

Eastern Savings Bank Hunt Valley, MD, was established in 1905.  They entered into to cease and desist agreement with the OTS on 2/20/09.  The Texas ratio is 506%.

Check out Michael Barret on the left he is a VP at on of the worst banks in America but he has time to play golf

His bank is on the problem bank list

These fat slobs aren’t going hungry

Why isn’t this disaster shut down

This bank is a joke

This could be the worst bank in the state

The bank has assets of $754MM, loans of $492MM.

Past due loans at 30-90 days are $40MM, non accrual loans are $233MM, there are $56MM in troubled restructured debt and $109MM loans in foreclosure.  That’s $438MM of problem loans out of $492MM in total loans, that’s 89% of the portfolio.

They have $438MM in problem assets with $60MM in equity.

Net income was ($65MM) in FY09 and ($30MM) in FY01.

This bank is insolvent.

Why hasn’t the regulators shut this disaster down?

Do you have money in this place?

Beth Goldsmith bankrupted this place

This thing is bankrupt, then again so is the FDIC.

Colorado Capital Bank Castle Rock, CO

April 18, 2011

Colorado Capital Bank, capital is the operative word here, was founded in 1998.  The company has $919MM in assets.  With $34MM in equity.  The Texas ratio  is 415%, this makes it the worst bank in Colorado.  They have $34MM in capital  with $617MM in bad debt, capital is not their strong point.

On 9/9/2010 they entered into a consent order with the FDIC.  They were cited for having violations consisting of low levels of capital, high levels of problem loans, concentrations of credit and negative earnings. You should read it, it is comical!

This bank could be the worst in Colorado based on capitalization.  The Tier 1 capital levels are 2.7%, well under the 4% requirement.  The total capital ratio is 4.77% well below the 8% requirement.  This place is severely  under capitalized.  Colorado under Capitalized Bank.

This is one of the worst capitalized banks in the country.

They lost another $5MM in Q1 2011, the equity is down to $15MM, this place is going under soon.

This thing is bankrupt.

The net income for 2010 was ($66MM), compared with ($54MM) in 2009, this allowed them to erode their capital base from $85MM in FY09 to $34MM in 2010.  That’s 162%.

The company states that they work with non profits, that is a good business model  because they are a non profit!.

So if they have $422MM in bad debt supported by $34MM in so called equity, don’t you think this place  is bankrupt!

How come the FDIC hasn’t closed this bank down? Well because the FDIC is also bankrupt.

Imagine having your savings here, the bank is bankrupt and the FDIC is bankrupt.

They have $312MM in 30-90 past due loans, with $110MM on non accrual.  With $617MM in total loans, that makes 68% of the portfolio past due.

This  company has, 60 advisory board members.  Good thing they were keeping an eye on things.

Is this your bank?

The runoff from the Rockies is going leave this place sitting in the Mississippi.

Their only salvation is if the world ends on 5/21, I guess it didn’t.

They say your deposits are guaranteed by the FDIC

The FDIC is bankrupt

Do you have money in this thing.

Look on the bright side, when this place goes bankrupt, you can use the branches for medical marijuana dispensaries.

Under capitalized, they are beyond bankrupt.

With $15MM in equity and $176MM in non accrual, this disaster won’t survive through Q2.

How is the capital restoration plan going?

Capital restoration, how about capital destruction.

Change the name to, Colorado unacceptable capital restoration plan bank.

Lisa McKean should be in jail for managing this abortion.

Maybe she could get a decent haircut with amount of money she steals.

Lisa show us the money.

When is this abortion going to end?

North Middlesex Federal Savings Bank Ayer, MA

April 15, 2011

This could be Karen Thorne


North Middlesex Federal Savings Bank was founded in 1885.  It is rated as 1 on a scale of 1-5, giving it the lowest rating on the banking scale.  It was rated as having negative earnings and negative levels of capital.

The company has $336M in assets.  Earnings were very weak in FY10, net operating income was ($6.8MM), it lost another $1.6MM in FY08.  The efficiency ratio for the firm was terrible at 85%, this might have something to do with a company this small having 23 officer’s and 7 seven branches.  Cost containment might be a wise decision for this ineffectual management team.

The Texas ratio was 31%, which is one of the worst in Massachusetts.

The bank has $26MM in equity, not much for being in business 126 years.  They have $9MM in problem loans which, potentially could wipe out significantly levels of the already weak capital base.

They forgot to include the income statement in their annual report, this might have something to do with negative net operating income of 6.8MM, shocking!

Do you have money in this bank because the FDIC is bankrupt.

Holbrook Cooperative Bank Holbrooke, MA

April 15, 2011

Holbrook Cooperative Bank entered into a consent order with the FDIC on 10/6/2010.  It was sighted for unsafe and unsound banking practices including but not limited to poor credit , ineffective underwriting standards, excessive volume of criticised assets, deficient earnings deficient capital.  Sounds like a great operation.

Here is Paul Falvey, he runs this abortion 

This looks like Meg McIssac

Meg likes to engage in unsafe and unsound lending practices

However, Meg is not limited to poor credit, ineffective underwriting standards, excessive volume of criticised assets

The emperor has no clothes

this is the guy he ran this place into the ground

The company has assets of $74MM.  For FY2010, net income was ($1,666M) which allowed them to effectively wipe out 20% of their equity last year.  The Texas ratio was 27% making them one of the worst banks in the state.  The efficiency ratio was a horrible 86%.

The company has $8MM in equity however, there is about $3MM in delinquent loans which could effectively wipe out another 40% of the remaining equity.  This would leave them effectively insolvent.

The company was cited for having below average asset quality and capital.

The company was founded in 1888, it took 123 years to grow to $74MM in assets, that’s $600K a year in asset growth.  What does this company book one loan a year?  This management team has succeeded in destroying a 123 company in two years.

The question is why hasn’t the FDIC closed inept organization.

Hopefully you don’t have money in this place, they are bankrupt and so is the FDIC.

Stoneham Savings Bank Stoneham MA

April 14, 2011

Stoneham Savings Bank, Stoneham, MA entered to a consent order with the FDIC 1/26/2010 which allowed them to get on the problem bank list.  The reasons cited were incompetent management and inadequate capital among other things.   They have the distinction of being the 3rd worst bank in Massachusetts with a Texas ratio of 69%.   The bank has been in business since 1855 and the current management team is doing a good job of running it into the ground.

This is the worst capitalized bank in the state with a total tier 1 risk based capitalization of 7.74%, which is below the 8% requirement.

At FYE 12/31/10 NOI was ($15,750M), down from ($9,219M) in 2009.  The efficiency ratio was a pathetic 131%.  They might want to consider closings down some of those 10 branches.

The equity position is down 52% since 2008.  However, this helped improve the return on equity to (19%) in 2010 down from (29%) in 2009.

The company has $10MM in OREO and $7MM in non accrual.  The allowance for losses is $2MM.  These problem loans could effectively wipe out the remaining equity.

The company was cited for having negative earning, asset quality and capital.  What else is there?

They are probably technically insolvent, the question is why hasn’t the FDIC shut this thing down?

Do you have money is this disaster because the FDIC is also insolvent.

Check out the website, it is under construction?

While the bank is under destruction.

The website is coming soon, so is Armageddon.

They have a pretty savvy  website for your on line banking.

Middlesex Federal Savings Bank Somerville MA

April 14, 2011

Take a look at the new site capital2risk.com!

Cease and desist, this place is legal where is Mark Collins and Joe Smarlz?

Middlesex Federal Savings Bank located in Somerville, MA has entered into a Supervisory agreement with the OTS on 11/10/2010.  This was based on unsafe lending practices, particularly high risk construction loans.  The bank also had a cease and desist order in 2004.

Where is Mark Collins?

Where is Joe Smarlzs?

The current agreement stipulates that the company cannot refinance or extend existing loans.  In addition, it requires a management succession plan as well as changes in Directors and Senior Executives.

Middle sex has the fourth highest Texas ratio in Massachusetts at 66%.  At 12/31/10, they had equity of $39MM.  However, they have $17MM in non-current loans and $11MM in OREO.  This delinquent loans will effectively negate 72% of the equity in the company.  The loan loss reserve is significantly inadequate at 19%.

The company has $241MM in loans.  At  FYE 2010, the company had losses of $4,440M, with combined 3 year losses of $13,917M.  The efficiency ratio is abysmal at 92%.

In 2010, the VP of lending Mark Collins was banned by the OTS from working in the financial services industry for engaging in unsafe practices, personal dishonesty and miss using authority.  He is facing up to 5 years in prison and fines up to $1MM.

This company is effectively a Zombie bank and should be liquidated.  Management has not demonstrated an ability to  correct this situation.  If the company had the right loan loss reserves, the equity position would be wiped out.  If the OTS were doing its job, it would close this institution.

Do you have money in this bank? They are insolvent and so is the FDIC.

Has anyone seen Mark Collins around?

How come they don’t post the financial statements on the website?

This place can’t lend anymore, shocking.

How is that management succession plan coming?

What is the plan for the change in directors and ” senior executives”?

So, Joe Smalarz single-handedly destroyed a 121 year financial institution?

Do you have money in this place?

Check out the website, impressive. Designed by Mark Collins

Whitey Bulger is back, he can take over for Mark Collins.