What a Bank????

My broker dumped me into this national bank in Florida a couple years ago. It is small but I sell it tomorrow. This is from the FDIC.

https://cdr.ffiec.gov/Public/SearchFacsimiles.aspx

From September 30, 2007 FDIC filing.

Total Assets $280,727

Total Construction & Development Loans $135,434

Equity $22,584

PAST DUE CONSTRUCTION & DEVELOPMENT LOANS $11, 577

Loan Reserves $ 3,087

This bank is heavily insured by FDIC. Over half the deposits.

I Know, I know... just dump it! But this might be rather normal in high roller states like California and Florida. The December 31, 2007 numbers are not due yet but they must be a disaster.

This is an old local bank where the Oranges are turning into housing developments. These Republican Booster Club Mason types probably do not know what hit them.