Industry Bancshares Inc. — the parent company of six troubled small-town banks in the triangle between Houston, San Antonio and Dallas — recently updated investors on its plan to raise new capital.
Taylor: Banks and bonds and what’s troubling a Texas financial institution The situation resulted from rapid interest rate increases in 2022 plus the banks’ large holdings of U.S. government bonds, which lost their market value as rates rose. It went largely unnoticed, though, because bank regulators allow banks to calculate and report their capital base as if such bonds had not lost market value, a convenient and allowable accounting fiction.
Taylor: Here’s how Industry Bancshares can dig itself out of a Silicon Valley Bank-like hole Industry Bancshares’ depositors, by contrast, are apparently the opposite.
3 subsidiary banks of Texas-based Industry Bancshares fighting allegations leveled by regulator The OCC’s December order cited “negative total equity capital as of September 30,” said “capital levels do not fully support the Bank’s high-risk profile” and its belief that “capital and retained earnings are expected to decline from substantial projected losses for year-end 2023” as reasons to enter a formal agreement of mandatory changes in bank risk practices.
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