Emigrant bank (=Emigrant Direct) has lost $66,000,000 in 1st Q of 2009 and $225,000,000 in 2008

[markber]

From Bankrate:


EMIGRANT BANK

5 E. 42ND STREET
NEW YORK, New York 10017

STAR RATING: 1
Predictive Indicator neutral
As of December 31, 2008
Docket&nbsp137915

	2008 12 months	2007 Year	2006 Year
Total Assets	$11,986,045	$10,948,778	$13,805,886
Mortgage Loans, Net	4,280,273	5,360,576	5,489,136
Mortgage-Backed Securities	1,757,667	787,079	463,840
Investments	1,564,950	2,286,727	6,160,138
Deposits	8,253,268	9,466,063	9,140,154
Borrowings	2,990,271	590,000	3,664,301
Equity	641,451	801,258	893,383
Net Interest Income	273,239	224,179	207,182
Fee Income	69,786	58,322	27,342
Overhead	160,437	152,700	143,227
Net Operating Income	-297,130	118,992	111,203
Net Income	-225,785	112,053	161,452

source:

bankrate.com/rates/safe-sound/financial-statements.aspx?thriftid=137915