Friday, August 14, 2009

Problem Bank List (Unofficial) Aug 14, 2009

by Bill McBride on 8/14/2009 03:00:00 PM

This is an unofficial list of Problem Banks. (Note: Reports are Colonial will be seized this afternoon)

The list is compiled from regulator press releases or from public news sources (see Enforcement Action Type link for source). The FDIC data is released monthly with a delay. The Fed and OTC data is more timely, and the OCC a little lagged. Credit: surferdude808.

Changes from last week (from surferdude808): The institution count is higher by three this week, with five additions and two deletions. Assets are $6.3b higher. About 60% of the increase in assets is due to the addition of Riverside National Bank of Florida, Fort Pierce, FL, which actually was placed under formal action during 2008q4 but it was not included in last week's list.

The other four additions included 2 institutions headquartered in Georgia, and one each in Florida and Kansas. The Georgia banks are based in metro Atlanta, where commercial real estate or construction & developement lending continue to weigh heavilly on the sector. Since August 2008, 21 banks in Georgia have failed.

There are 32 georgia-based institutions on this week's problem bank list, which represents the largest share (8.2%) of this week's total. The next highest shares include california at 7.7% and florida at 7.1%. The two removals from the problem bank list this week were the failures -- Community First Bank, Prineville, OR and Community National Bank of Sarasota, Venice, FL -- that closed on friday, August 7th.

DISCLAIMER: This is an unofficial list, the information is from public sources and while deemed to be reliable is not guaranteed. No warranty or representation, expressed or implied, is made as to the accuracy of the information contained herein and same is subject to errors and omissions. This is not intended as investment advice. Please contact CR with any errors.

See description below table for Class and Cert (and a link to FDIC ID system).

The table is wide - use scroll bars to see all information!

NOTE: Columns are sortable - click on column header (Assets, State, Bank Name, Date, etc.)





Class: from FDIC

The FDIC assigns classification codes indicating an institution's charter type (commercial bank, savings bank, or savings association), its chartering agent (state or federal government), its Federal Reserve membership status (member or nonmember), and its primary federal regulator (state-chartered institutions are subject to both federal and state supervision). These codes are:
  • N National chartered commercial bank supervised by the Office of the Comptroller of the Currency
  • SM State charter Fed member commercial bank supervised by the Federal Reserve
  • NM State charter Fed nonmember commercial bank supervised by the FDIC
  • SA State or federal charter savings association supervised by the Office of Thrift Supervision
  • SB State charter savings bank supervised by the FDIC
  • Cert: This is the certificate number assigned by the FDIC used to identify institutions and for the issuance of insurance certificates. You can enter the certificate number in the Institution Directory (ID) system "which will provide the last demographic and financial data filed by the selected institution".