Friday, December 25, 2009

Unofficial Problem Bank List: 545 Banks

by Bill McBride on 12/25/2009 10:06:00 PM

The FDIC is on holiday, but not surferdude808 (He says Merry Christmas!)

This is an unofficial list of Problem Banks compiled only from public sources.

Changes and comments from surferdude808:

Last week’s closures had a large impact on the Unofficial Problem Bank List. Seven institutions with $14.5 billion in assets were removed from last week’s list because of failure.

The failures included First Federal Bank of California ($6.1 billion), Imperial Capital Bank ($4.1 billion), Peoples First Community Bank ($1.8 billion), New South Federal Savings Bank ($1.5 billion), Independent Bankers' Bank ($584 million), and Rockbridge Commercial Bank ($294 million). Other removals include Manatee River Community Bank ($152 million), which merged with First America Bank, Osprey, FL; and Golden First Bank ($25 million), as the OTS terminated its formal action.

Regulators did deliver some not so good Christmas gifts this week as formal actions were issued to three institutions including Midwest Bank and Trust Company, Elmwood Park, IL ($3.5 billion); Centrue Bank, Streator, IL ($1.3 billion); and Bayside Savings Bank, Port Saint Joe, FL ($86 million).

With these changes, the Unofficial Problem Bank List includes 545 institutions with aggregate assets of $295.6 billion.
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".