wpr
  • wpr
  • Preferred Member Topic Starter
16 years ago
I was stunned to learn that Rock River Bank in Oregon, IL was closed by the FDIC yesterday afternoon. The bank was a strong bank that was well managed.
It can happen to anyone anywhere. I am sure glad this isn't 1930.

Rock River Bank fails 
UserPostedImage
4PackGirl
16 years ago
holy crap, wpr! that's amazing to me. my aunt lives in mt. morris - i'm not sure if that's where she banks or not. i would have thought it would be a strong local bank as well. that's shocking.
wpr
  • wpr
  • Preferred Member Topic Starter
16 years ago
Here some more info:


Fridays announcement was an unsurprising ending to the banks stunning decline. A year ago, Rock River Bank, which was established in 1935, had $95.4 million in assets, had turned a profit of $282,000, and less than 2 percent of its loans were noncurrent, or more than 90 days past due. At the end of March 2009, though, its assets had dwindled to $77 million, and the bank lost nearly $4.8 million in the first quarter. Its noncurrent loans had grown to nearly 9.8 percent.

The banks capital reserves had fallen from 10.3 percent, considered well-capitalized, to 1.7 percent.



Bank story link 
UserPostedImage
Cheesey
16 years ago
Gee......makes you wonder who filled their pockets, hey?
UserPostedImage
wpr
  • wpr
  • Preferred Member Topic Starter
16 years ago

Gee......makes you wonder who filled their pockets, hey?

"Cheesey" wrote:



Some of it was mismanagement. Some of it was failed loans. A $2 mil condo was being built and never completed. A $5 mil renovation project on a hotel in WI went bad. And so on. It all adds up.
UserPostedImage
IronMan
16 years ago

Some of it was failed loans.

"wpr" wrote:


Imagine that. People trying to buy stuff they can't afford. That NEVER happens in this country!

This is good advice:

http://www.hulu.com/watch/1389/saturday-night-live-dont-buy-stuff 
wpr
  • wpr
  • Preferred Member Topic Starter
16 years ago
That reminds me of George Carlin's bit on all your stuff.

[youtube]MvgN5gCuLac[/youtube]
UserPostedImage
IronMan
16 years ago
Classic. RIP Mr. Carlin.
Users browsing this topic
    Fan Shout
    Zero2Cool (8h) : Both LB Quay Walker and Rookie DB Micah Robinson have passed their physicals
    Zero2Cool (8h) : Happy to see site feels more snappy snappy
    Zero2Cool (8h) : No sir. I did not.
    dfosterf (9h) : You didn't get free childcare when you were at work?
    wpr (9h) : These guys make hundreds of thousands of dollars a year. Pay for their own childcare.
    dfosterf (10h) : 2nd issue. Number 1 issue was no gameday childcare. 1 of 3 teams not providing it
    Zero2Cool (10h) : Suppose if locker room is main issue, we sitting pretty
    wpr (10h) : I thought so Mucky. In those useless player polls GB always rates high overall. Locker is a part of it.
    Mucky Tundra (11h) : Wasn't the locker room just updated like 6 or 7 years ago?
    Zero2Cool (12h) : I have forum updated on different site. We'll see how this one goes before going to that
    Zero2Cool (12h) : Elgton Jenkins has a back injury, is expect to end contract dispute
    wpr (15h) : It's funny the PA complained about the locker room. It wasn't that long ago it was top shelf. Things change in a hurry.
    wpr (15h) : The site is much more better.
    Zero2Cool (15h) : NFLPA report said Packers lockerroom needed upgrade. Whining bout where you change?
    Zero2Cool (15h) : I saw that and thought it was kind of lame.
    dfosterf (15h) : Packers new locker room is pretty awesome. Great for morale, imo
    Zero2Cool (15h) : Shuffled things on the web server. Hope it makes it faster.
    Zero2Cool (16h) : Other times, it's turtle ass
    Zero2Cool (16h) : Sometimes it's snappy, like now.
    beast (17h) : I feel like it's loading at the top of the next minute, or something like that.
    beast (17h) : Also the thanks/heart takes FOREVER to load, and posting in the shout box takes three times FOREVER!
    beast (17h) : Thanks for saying something, I thought it was slow, but assumed it was on my end
    beast (17h) : Thanks for saying something, I thought it was slow, but assumed it was on my end
    Zero2Cool (17h) : Yeah, I noticed that too. Is it slow for PackerPeople.com too?
    wpr (17h) : I don't know what you IT guys call it but the page loading is very slow for me today.
    Zero2Cool (18h) : SSL might be settled now.
    Zero2Cool (23-Jul) : Still working through SSL cert issues
    wpr (23-Jul) : Glad to be back
    Zero2Cool (23-Jul) : I think PH original finally working.
    dfosterf (22-Jul) : Can tell you are having a fun day Kev
    Zero2Cool (22-Jul) : Yep, I had to manually move them. It'll fix itself after more posts.
    Mucky Tundra (22-Jul) : Same deal with the songs/videos thread, says you replied last but when I go there it's what I posted earlier is last
    Zero2Cool (22-Jul) : I had to manually move three posts.
    Mucky Tundra (22-Jul) : But when I go it, Martha's is the last reply
    Mucky Tundra (22-Jul) : Still a little screwy; it shows on the main forum that you were the last person to reply to the Jenkins trade thread
    Zero2Cool (22-Jul) : Host issues, been crazy day
    Mucky Tundra (22-Jul) : Connect 4?
    Zero2Cool (22-Jul) : Connecting to new database
    Zero2Cool (22-Jul) : What the hell
    beast (22-Jul) : Packershome going to the Whiteout unis again
    Zero2Cool (21-Jul) : Oh wait, they got Cam Ward. 1st overall right? haha oops
    Zero2Cool (21-Jul) : They could send Packers a 1st for a QB they are familiar with
    Zero2Cool (21-Jul) : Titans QB Will Levis to have season-ending shoulder surgery
    Zero2Cool (19-Jul) : Their season did kind of start there, so 🤷
    dfosterf (19-Jul) : Eagles put an engraved Brazil flag on their super bowl rings
    Zero2Cool (18-Jul) : Benton unsigned no more
    Zero2Cool (17-Jul) : That's good analysis, yes you are getting old. It'd a blessing!
    dfosterf (14-Jul) : *analysis* gettin' old
    dfosterf (14-Jul) : One of the best analyisis I"ve ever watched at this time of an offseason
    dfosterf (14-Jul) : Andy Herman interviewed Warren Sharp on his Pack a day podcast
    Please sign in to use Fan Shout
    2025 Packers Schedule
    Sunday, Sep 7 @ 3:25 PM
    LIONS
    Thursday, Sep 11 @ 7:15 PM
    COMMANDERS
    Sunday, Sep 21 @ 12:00 PM
    Browns
    Sunday, Sep 28 @ 7:20 PM
    Cowboys
    Sunday, Oct 12 @ 3:25 PM
    BENGALS
    Sunday, Oct 19 @ 3:25 PM
    Cardinals
    Sunday, Oct 26 @ 7:20 PM
    Steelers
    Sunday, Nov 2 @ 12:00 PM
    PANTHERS
    Monday, Nov 10 @ 7:15 PM
    EAGLES
    Sunday, Nov 16 @ 12:00 PM
    Giants
    Sunday, Nov 23 @ 12:00 PM
    VIKINGS
    Thursday, Nov 27 @ 12:00 PM
    Lions
    Sunday, Dec 7 @ 12:00 PM
    BEARS
    Sunday, Dec 14 @ 3:25 PM
    Broncos
    Friday, Dec 19 @ 11:00 PM
    Bears
    Friday, Dec 26 @ 11:00 PM
    RAVENS
    Saturday, Jan 3 @ 11:00 PM
    Vikings
    Recent Topics
    1h / Green Bay Packers Talk / Mucky Tundra

    2h / Around The NFL / Mucky Tundra

    3h / Around The NFL / Mucky Tundra

    6h / Green Bay Packers Talk / bboystyle

    7h / Green Bay Packers Talk / beast

    7h / Green Bay Packers Talk / beast

    17h / Green Bay Packers Talk / wpr

    23-Jul / Green Bay Packers Talk / beast

    22-Jul / Random Babble / Zero2Cool

    22-Jul / Green Bay Packers Talk / Zero2Cool

    22-Jul / Green Bay Packers Talk / Zero2Cool

    20-Jul / Green Bay Packers Talk / Mucky Tundra

    20-Jul / Green Bay Packers Talk / Mucky Tundra

    18-Jul / Green Bay Packers Talk / Zero2Cool

    15-Jul / Green Bay Packers Talk / Mucky Tundra

    Headlines
    Copyright © 2006 - 2025 PackersHome.com™. All Rights Reserved.