Failed Bank Information

[Jumptrout51]

BBG FOR PRESIDENT

[FUTCHCAIRO]

HEY TROUT 51, THAT IS NOT A BAD IDEA, I WOULD BE GLAD TO BE HIS FINANCIAL ASSISTANT AND HANDLE ALL OF THE MONEY WE COULD RAISE.
PA THE OLD MAN OF THE SEA SEMPER FI

[Harmsway]

I wonder how Capital City Bank is doing?

[big bend gyrene]

JT, I don't look to win, but here's my first commercial... shows who the actual "fine" folks were who protested earlier today, demanding that we "unite" with them. And as a reminder to all, Obama vocally criticized the Restoring Honor rally while going on record supporting this one.

http://www.youtube.com/watch?v=Wkw7n9Qagu8[/video]

[Quixote]

How many illegal aliens /welfare recipients have you run into with condos on the beach? waterfront lots on St. George Isl? Comercial property on Monroe St? Developing a 1200acre gated subdivision between DeFuniak Springs and Ponce De Leon or Bonifay? Land/Commercial loans are different. There is no secondary market for land and commercial loans. Those are all held in house. Failling land and commercial loans made to unsound business plans, "field of dreams" subdivisions, and the borrowed money high rollers beach house, is what kills a local bank.

[big bend gyrene]

Quixote, you seriously need to do more homework if you believe that there haven't been tons of loans that defaulted that were given to folks who didn't have the means to cover them, including illegal aliens... you must not remember the Bank of America scandal where they were running commercials that TARGETED illegals.

Your effort to paint the issue as one that is a problem of wealthy investors is not the least bit accurate on a national basis, nor does it acknowledge the impact on the average Florida Joe and his mortgage after losing his job under Obama's record unemployment rate (though Obama promised if we gave him trillions he would keep them low, now, didn't he?). Before the dems pushed the loan bar so low, folks actually had to PROVE that they had the means of covering loans... that's the way things used to work, and like it or not, the first to default are those with the least means.

Sorry for the inconvenient truths.

And Quixote, any comments on the lovely gathering in DC today? Can't help but wonder if any board members truly feel such a gathering reflects their values?

[Quixote]

Quixote, you seriously need to do more homework if you believe that there haven't been tons of loans that defaulted that were given to folks who didn't have the means to cover them, including illegal aliens... you must not remember the Bank of America scandal where they were running commercials that TARGETED illegals.

Your effort to paint the issue as one that is a problem of wealthy investors is not the least bit accurate on a national basis, nor does it acknowledge the impact on the average Florida Joe and his mortgage after losing his job under Obama's record unemployment rate (though Obama promised if we gave him trillions he would keep them low, now, didn't he?). Before the dems pushed the loan bar so low, folks actually had to PROVE that they had the means of covering loans... that's the way things used to work, and like it or not, the first to default are those with the least means.

Sorry for the inconvenient truths.

And Quixote, any comments on the lovely gathering in DC today? Can't help but wonder if any board members truly feel such a gathering reflects their values?

Home work isn't required...I was there. Never said there were not tons of defaulted loans given to unbankable folks.....don't put words in my mouth, but you're right, but about a different subject than the bank that went under. As far as anything I say being accurate on a national level. Never said that either...I only commented on local cases. And "wealthy investor" is your term, not mine but it is at the root of the problem. Middle class folks that had dreams of being weathy are the ones that saw the boom in real estate as their ticket and got burnt when the note was called in. Rich folks need banks for money, weathy ones don't. ""Sorry for the inconvenient truths wth does that even mean? inconvenient for who? me? and what gathering are you talking about? I gathered with my family to help wish a happy 81st birthday to my wifes uncle.
The main topic was started about a local bank going under. If you think defaulting residential loans to illegal aliens or welfare folks caused that bank to go under... you are delusional.
And please answer my question about numbers of aliens and welfare folks that bought condos etc...
And before you try and explain how I'm all wrong and uninformed, or claim I'm some sort of Obama love'n Lib. ( laughable) far from it , you might want to do some homework yourself and get you own information that doesn't come from a media outlet. Try looking at the bank you do business with. Spend some time talking to the special assets department of your bank. All but the most sound have them. Look at the two big banks in Tally and what they are having to take back in.

[Quixote]

oh, and if you think them Dems. have a monopoly on F'in up the economy then you really need to back away from hannity, limbaugh etc..... They are all a bunch of self serving crooks that only have there own interest at heart and that of there donors. Notice I did not say constituents.

[Quixote]

A quik look at the bank in questions property it has taken back show that in Wakulla co. There are 53 properties. Only 3 have ever had a homestead exemption. I feel fairly confident that many local banks have a spread of properties that are about the same.

[Quixote]

19 in franklin Co. a few commercial properties and the rest are vacant lots or speculatively bought or built homes. Not one homestead exemption in the bunch.

[Jumptrout51]

[Chalk]

This site is predictable like a multi-answer test except D is not None of the Above it is Obama - coming from a lifelong republican before anyone climbs that rope.

Banks going under in Florida have little to nothing to do with the politics - they stem from bad economic times and poor business decisions. Every bank that closed or was bought out in Bay county was from over extending it's credit - also known as poor and unsound business practices. The bank told me I could afford a $350k house five years ago - I told them they were "nucking futs".

Yeah government does make rules and provide tax laws...but loaning millions of dollars on unsound business is the real reason. In a resort community that saw less than half the tourist they normally see....there will be some more businesses and banks that fold before next spring and that is from the oil spill. Even good business plans cannot plan for no tourist and oil on the beach. So, take bad economic times and a manmade disaster and business will be folding left and right.

Come on BBG, Quixote stated his opinion and you have to lay the wood to him like a stray dog - let off the gas a little bit.

[Jumptrout51]

See there BBG.
When you run for office everybody starts picking on you.

[big bend gyrene]

Chalk, you're going 'bout 3/4 down the same path I paved, and so is Quixote if he would follow the logic of what he's saying.

To your exact points I said that loans were made too easy to get. Been one of my key points. I just did the next sensible thing to do... ask and then answer the question "why"? And that answer, that both you and Quixote are dancing around is that starting at Jimmy Carter the dems took strong steps BY LAW to push banks to make loans to unqualified individuals. Should some bank owners have been smarter? Well, some were, but understand they did so at a price. They passed up on government praise/money, and risked the threat of constant lawsuits. Maybe you were fishing too much back then and you missed how strong Big Brother got, but he's grown to the point he's cherry picking winners of late, bailing out who he wants and letting others fail... kind of makes going against his laws and threats a tough proposition to stomach. I know because I'm under the ever growing regulatory side on his medical push... can I choose not to do insane things he's telling us to do, sure and face fine after fine too.

The point on Obama is he's the straw that's largely breaking the camel's back. He's spent trillions more than any president ever, and wise businessmen know that the bill is coming so they're holding their purse strings tight, and in the process it's caused record unemployment and slowed business lending & PAYMENTS to a crawl. Maybe you don't see that as a factor in this mess, but I don't see how you can't. This whole economic bubble largely burst at once, and each section of the economy is having impacts on other areas. Think I'm wrong, have at it... but I'll be throwing up lots of charts/graphs to prove my point.

Funny how under Bush, hurricanes and levee's bursting were his fault, but Obama's horrendous fiscal policies should get a pass. Well, not from me. So much wasteful spending has been done it's going to be extremely painful to put the horse back in the barn and get businesses to spend again in light of the dark, dark tax clouds on the horizon. Sad, sad truth, Chalk.

[bman]

I wonder how Capital City Bank is doing?

They are in good shape- Years of investments and assets kept the bust from hurting them too much. Even though they were hurt.
All but the new banks that started up after the shake out lost money. Some were in a better position to take the hit than others.
Any that were very builder/developer friendly took bigger hits than those that had more balanced portfolios.

I've seen some statistics that show assets vs liabilities and info on non-performing loans on our local banks.
95% of our local banks are in good shape. The other 5% have a cold and should be back to good health soon.
Wakulla Bank was in the worst position of any of the ones in Leon, Jefferson, Wakulla or Gadsden county.

Remember we lost Peoples Bank earlier this year- they were in a very similar situation.
All the branches were taken over by Hancock and life went on.

I agree that the big picture is messy and disturbing.
But, on a practical level all the Wakulla Bank customers are just Century Bank Customers now.


Enough levelheadedness and logic
BBG and Quixote may return to our regularly scheduled Program