2010-06-03chicagobusiness.com

On paper, Chicago-based Builders Bank appears to have just four months to raise at least $14 million in fresh capital under a new consent order with state and federal banking regulators. But CEO Mitchell Saywitz, sole owner of the 13-year-old commercial real estate lender, said he doesn’t think he will have to raise a dime despite the fact that his bank’s $135 million in combined bad loans, foreclosed property and restructured loans was nearly four times its total capital of $35 million at the end of the first quarter.


Lijit Search

Comments: Be the first to add a comment

add a comment | go to forum thread