Mid City Bank Losses

By: Associated Press Email
By: Associated Press Email

The bank reported its third-straight year of losses in documents filed with the Federal Deposit Insurance Corporation. After the 2010 loss, Mid City's capital fell to $5.6 million.

The amount of capital Mid City reported is less than the FDIC requires the bank to maintain under a 2009 consent order.

The bank's chief financial officer Bob Hearron told the Omaha World-Herald that Mid City's results were hurt by problems with some of its commercial loans and a vacant 15-story office building in Omaha it owns.

Mid City put $18.5 million into its reserves in 2010 to help cover possible loan losses.

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