Friday, July 23, 2010

Unofficial Problem Bank List at 792 Institutions

by Bill McBride on 7/23/2010 11:46:00 PM

Note: this is an unofficial list of Problem Banks compiled only from public sources.

Here is the unofficial problem bank list for July 23, 2010.

Changes and comments from surferdude808:

Failed banks led to a reduction in the Unofficial Problem Bank List this week. The list stands at 792 institutions with aggregate assets of $409.3 billion.

There were seven removals because of failure including Crescent Bank and Trust Company ($1.0 billion), Sterling Bank ($408 million), Home Valley Bank ($258 million Ticker: HVYB), SouthwestUSA Bank ($214 million), Williamsburg First National Bank ($139 million), Community Security Bank ($109 million), and Thunder Bank ($33 million).

There were three additions this week including Metro United Bank, San Diego, CA ($463 million Ticker: MCBI); Bank VI, Salinas, KS ($98 million); and American Loan and Savings Association, Hannibal, MO ($6 million). The other change is a Prompt Corrective Action Order issued by the Federal Reserve against Pacific State Bank ($323 million Ticker: PSBC).

While the FDIC was busy closing some problem institutions, they did not release their enforcement actions for June as we had anticipated they would. Look for it next week.