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Independent Bank Corporation Message Board

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  • republicanabe republicanabe Nov 2, 2009 7:29 PM Flag

    CIT was well capitalized last quarter

    You are 100% correct. Even though a bank has adequate capital does not mean they are bullet proof. That's what raises concerns about IB. They keep posting substantial losses and eat into their equity. They cannot continue the burn rate. The Mepco loss was unexpected and they have $400 million of this stuff. I don't think anyone would be suprised is the FDIC would step into the picture.

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