Would you take a job at a "troubled" community bank?

Question: Is this the kind of job I should take only if I can extort a fairly high salary given the risk?

Scenario: So I'm relocating in a week and a half to the Kansas City area. I have a potential opportunity with a bank that's considered "troubled" and is under the close eye of the regulators. Apparently, this community bank doesn't really issue single family loans. Pretty much all of their business has been commercial real estate loans. Their KC portfolio is just fine, but in the mid-2000s they got into issuing CRE loans in Arizona, which has just demolished their portfolio. They've currently employed a California investment bank to look for an equity investor (needing about $75 million) in order to sure up their capital base.

The position is permanent (as part of their new focus on credit) with the CRE group working with the destroyed loan portfolio--conducting workouts, adminstering the portfolio, some acquisitions, site inspections, etc. Basically, I do much of this stuff currently but for an international bank that isn't troubled. The opportunity itself appears to be extremely hands on, very challenging, and would develop a lot of skills. Requires 3+ years in commercial real estate with a degree in finance.

Curious what the thoughts are on joining up with a financially troubled community bank that's been looking for an investor for the better part of a year. I have a few other opportunities potentially on the table (one with a local CRE developer in a development role and another with a national bank's multifamily Asset Management group).

Edit: I should probably list my goals here:

Primary: public official (politics) Secondary: either real estate development (developer) or community bank VP/President.