Friday, November 13, 2009

Unofficial Problem Bank List increases to 507

by Bill McBride on 11/13/2009 09:30:00 PM

Note: This was before the three FDIC bank seizures today.

This is an unofficial list of Problem Banks.

Changes and comments from surferdude808:

The Unofficial Problem Bank List changed by a net two institutions this week to 507.

Seven institutions with assets of $1.6 billion were added to the list. The largest addition is First Federal Bank of North Florida, Palatka, FL ($444 million). The OCC did not release its actions for October today so we will look for those additions next week.

Assets on the list fell substantially from $330 billion to $304 billion as $13.2 billion of the decline came from the three failures last week -- United Commercial Bank ($12.8 billion), Prosperan Bank ($197 million), and Home Federal Savings Bank ($14 million) – and 2 banks that underwent unassisted mergers during July -- Discovery Bank ($151 million), and Southern Bank of Commerce ($30 million).

The list has been updated to include asset figures for the third quarter of 2009, which accounted for $14.5 billion of the decline in assets from last week. The largest decline in assets during the quarter occurred at AmTrust Bank (down $1.7 billion) and Woodlands Commercial Bank (down $1 billion). The average decline in assets during the quarter was $29 million but the median decline was only $4.5 million.

Positively, 368 institutions reduced their asset size during the quarter.

The only other changes to the list are the issuance of Prompt Corrective Action orders against three institutions that are already under a formal enforcement action. These PCA order were issued against Evergreen Bank, New South Federal Savings Bank, and Orion Bank (CR Note: Orion failed today!).
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, and the Fed and OTC data is more timely. The OCC data is a little lagged. Credit: surferdude808.

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

For a full screen version of the table click here.

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. Click on the number and the Institution Directory (ID) system "will provide the last demographic and financial data filed by the selected institution".