Bank Ratings and Bank Failures January 27 2012
Posted by Howard Lothrop on Mon, Jan 30, 2012 @ 09:21 AM
On Friday January 27, the FDIC was named receiver for BankEast (TN), Patriot Bank Minnesota (MN), Tennessee Commerce Bank (TN) and First Guaranty Bank and Trust (FL).
A link to our bank ratings report is shown below.
BankEast
Patriot Bank Minnesota
Tennessee Commerce Bank
First Guaranty Bank and Trust
As is typical, an examination of the financial position of these banks indicate well below normal capital levels and generally well above normal noncurrent loans. In fact, BankEast had about less than 1% capital as of Sept 30, while the others had 2% capital or less at quarter end.
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Photo provided by Nina Matthews Photography
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