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Started By
Message
re: First NBC Bank Fraud Trial Wrapping Up - Predictions? RYAN GUILTY ON ALL, BEEBE NOT GUILTY
Posted on 2/9/23 at 4:59 pm to teke184
Posted on 2/9/23 at 4:59 pm to teke184
All I know about this fiasco is from a lady friend who worked there during the time a lot of this was happening.
She damn near had a nervous breakdown due to the crap Ryan was pushing them to do
She damn near had a nervous breakdown due to the crap Ryan was pushing them to do
0
Posted on 2/9/23 at 5:05 pm to SlidellCajun
quote:I knew otherwise for the past decade.
Ryan was a cornerstone of the business community and generally regarded well
But your point is generally correct.
Posted on 2/9/23 at 5:21 pm to JudgeHolden
quote:
But I think he looks like a guy who is nice enough to be duped.
Uh... no.
He knew what he was doing.
Posted on 2/9/23 at 5:27 pm to teke184
I knew he was guilty the minute he started that "I'm a good Catholic, I wouldn't do this..." bullshite. Anytime someone starts claiming that their religion makes them innocent, they are guilty as sin.
Posted on 2/9/23 at 5:27 pm to LSUFanHouston
Ran on the traps on acquiring some of their loans during the fdic work out. The amount of self dealing and lending to board members and their relatives was enough of a red flag to walk away. One of my better decisions.
Was this criminal I have no idea. But the lack of institutional control and basic standards was appalling.
Was this criminal I have no idea. But the lack of institutional control and basic standards was appalling.
Posted on 2/9/23 at 6:51 pm to SlidellCajun
quote:
I didn’t follow the story so I’m not entirely clear on why he would be giving out fraudulent loans to people ? What did he gain from that?
Loan growth for the sake of selling the bank as a large shareholder. From a well managed credit portfolio standpoint, you could've hidden the shite loans. Problem is when you grow aggressively, you become the lender of last resort.
Couple all this with more deferred tax assets than they could earn through in 20 years. This led to the auditor quitting after restating previous earnings. Then the analyst letter increased shareholder pressure, so they tried to bring in Carl Chaney as CEO, but it was too late.
The adoption of Basel III meant that DTAs didn't have the same regulatory capital value they previous did. Low capital is unsafe and unsound. Then the FDIC owns you.
Posted on 2/9/23 at 7:30 pm to jbgleason
quote:
I knew he was guilty the minute he started that "I'm a good Catholic, I wouldn't do this..." bullshite. Anytime someone starts claiming that their religion makes them innocent, they are guilty as sin.
Hey, he needs to call in a favor from the Archdiocese. Member when you can get a loan from First NBC easy to send your bad arse kids to private school? Easy money was flowing into those schools.
Yeah, I 'member.
This post was edited on 2/9/23 at 7:31 pm
Posted on 2/9/23 at 10:13 pm to Pechon
quote:
I'm a good Catholic
Typical arrogant Jesuit boy.....
Pillar of the community and think they're all that....
Until they're not....
Posted on 2/9/23 at 10:14 pm to Pechon
(no message)
This post was edited on 2/9/23 at 10:15 pm
Posted on 2/10/23 at 5:52 am to Socrates Johnson
quote:
Loan growth for the sake of selling the bank as a large shareholder.
The amounts that have been mentioned are small though right?
Posted on 2/10/23 at 6:23 am to LSUFanHouston
LINK
Damn
quote:
Jeffrey Dunlap, a contractor who Ryan knew had previously committed a fraud even before he lent him millions of dollars, also testified against the former bank chief. Dunlap worked with Warren Treme, a self-confessed gambling addict who appeared to live for years only from proceeds of loans Ryan arranged, to siphon off loan proceeds to pay for work Dunlap did on projects owned by both Ryan and Treme.
In all, just seven borrowers owed more than $250 million by the time regulators seized the bank in 2017. Federal regulators eventually determined that the bank had $1 billion in bad debt, which was sold off for pennies on the dollar.
Ryan had maintained that his work to help borrowers was purely altruistic and that the bank's failure was driven instead by "shark" speculators betting on its demise after it had run into trouble with auditors.
Damn
Posted on 2/10/23 at 6:42 am to SlidellCajun
quote:
What did he gain from that?
He took personal pride in rebuilding the community after the storm. Ashton is a decent man who did a dumb thing.
Posted on 2/10/23 at 6:57 am to SlidellCajun
They're small to Chase. 250mm means a lot to a small bank.
Posted on 2/10/23 at 8:20 am to touchdownjeebus
quote:
He took personal pride in rebuilding the community after the storm. Ashton is a decent man who did a dumb thing
All would’ve been fine if the FDIC didn’t have to bail out the customers. That’s what got the fed’s attention.
Posted on 2/10/23 at 8:29 am to Joehat
That’s why I don’t even understand why there was a trial. Nobody got hurt. Everyone had insurance.
Posted on 2/10/23 at 8:49 am to Meauxjeaux
quote:
That’s why I don’t even understand why there was a trial. Nobody got hurt. Everyone had insurance
Ryan upset too many people.
He upset Wall Street by showing income related to tax credits / deferred tax assets that FNBC would never have been able to utilize, and then having to take a huge loss because of that.
He upset the banking regulators by using those same credits/assets on the balance sheet, to the point where the feds changed the laws regarding how those impact liquidity.
He upset the FDIC by having the bank blow up at a time when the economy was in prety good shape. In fact, the loans were so terrible that the FDIC could not sell a lot of them, or took a massive loss when they did sell them.
He upset the feds by, when they tried to pressure him into resigning before the bank blew up, by basically telling the feds to go F themselves.
If this blows up in 08/09, nothing happens, but this happened at a time when the feds were bored.
Ryan made bad loans to bad people, who ultimately sold him out. Unfortunately, he also was friends with / in business with those bad people.
The hell of it is... First NBC was basically a model child for the Community Reinvestment Act. He made risky loans to risky people, and it burned down.
Posted on 2/10/23 at 9:28 am to touchdownjeebus
quote:
Ashton is a decent man
From what I've been reading I beg to differ. Would you trust him with your life savings?
quote:
who did a dumb thing
He knew what he was doing.
This post was edited on 2/10/23 at 9:32 am
Posted on 2/10/23 at 9:46 am to Meauxjeaux
quote:
Nobody got hurt. Everyone had insurance.
Who's paying for that insurance? Where is the money coming from to pay people? Also, FDIC insures up to a limit.
Edit: fdic.gov - "The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category." Yeah, some people have more than that tied up in a bank.
This post was edited on 2/10/23 at 9:57 am
Posted on 2/10/23 at 9:53 am to Joehat
quote:
All would’ve been fine if the FDIC didn’t have to bail out the customers. That’s what got the fed’s attention.
I’m sorry. What the actual eff?
Posted on 2/10/23 at 9:54 am to Socrates Johnson
quote:
I’m sorry. What the actual eff?
I know, right? I'm amazed at some of these comments.
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