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n. Illinois | This is a 62 million dollar bank as of 9-30-23. They went from having a positive net worth of 2.3 million as of 12-31-22 to a negative 2.9 million net worth as of 9-30-23. They wrote of 4.8 million worth of loans in the 3rd qty out of a loan portfolio of about 35 million. This is a classic case of the bank not wanting to acknowledge how bad some loans were and they had a loan audit from some regulator that forced them to recognize reality. It appears that the biggest growth in reserves was in the commercial industrial loans, They had a very small ag loan portfolio. | |
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You NW Iowa farmers borrowing too much money for land and
