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n. Illinois | It was a small Commercial bank
Total assets of roughly 260 million. Did Commercial and Commercial real estate loans (zero Ag exposure)
Wrote off roughly 21 million in loan losses since the end of 2023 (all of 2024 and the first 9 months of 2025) Had equity of roughly 16 million before they wrote off the 21 million. Classic example of letting the sales guys make credit underwriting decisions. They finally got caught and could no longer hide the crap loans they had made.
FDIC is going to lose 19.7 million so there is another 20 million or so of crap still on their books as good loans and this is out of a portfolio of 142 million. They had a 165 million loan portfolio at the end of 2023 so they lost 25% of it 21 million already wrote off and the FDIC is going to write off another 19 million for a total of 40 million out of 165 million. My guess is that the FDIC will find even more crap and write off more than the 19 million.
Edited by Reality speaks 1/31/2026 20:13
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Bank Failure
