Friday, May 14, 2010

Unofficial Problem Bank List May 14, 2010

by Bill McBride on 5/14/2010 11:34:00 PM

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

Here is the unofficial problem bank list for May 14, 2010.

Changes and comments from surferdude808:

It was a quiet week for the Unofficial Problem Bank List as there were only three removals because of failure and one addition.

The list includes 725 institutions with aggregate assets of $363 billion. The failures include Midwest Bank and Trust Company ($3.4 billion Ticker: MBHI), New Liberty Bank ($114 million), and Satilla Community Bank ($146 million). The sole addition is Monarch Community Bank, Coldwater, MI ($290 million Ticker: MCBF).

There was one name and location change with Ohio Legacy Bank, N.A., Wooster, OH now known as Premier Bank & Trust, N.A., North Canton, OH. We had anticipated for the OCC to release its actions for April 2010 but it looks like that will happen by next Friday.
CR Note: Midwest was a TARP recipient of $89.4 million - and usually when a bank is seized, the Treasury (aka taxpayers) lose the entire investment.

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