Vineyard National Bancorp specialized in financing homes in southern California, and business was good in 2005. But the bank made some bad loans to home builders between 2005 and 2007 and consequently, it lost over $80 million during the first half of 2008. The previous year, it had a profit of $11.5 million. Bad financial results combined with the uncertainty in the real estate market caused customers to start yanking their money. In July 2009, the FDIC took over the bank.
Our annual list of high achievers is a guide to the most vibrant part of corporate America and beyond.
.
