by Bill McBride on 1/22/2011 08:42:00 AM
Note on McAfee: For some users, McAfee incorrectly flagged CR. I've spoken to McAfee, and hopefully this is resolved. You can check Google's site evaluation here.
Saturday, January 22, 2011
Note: this is an unofficial list of Problem Banks compiled only from public sources.
Here is the unofficial problem bank list for Jan 21, 2011.
Changes and comments from surferdude808:
The OCC finally released its actions through the middle of December 2010 as we have been waiting for the past two weeks. By and large, the OCC actions were the conversion of Formal Agreements to Consent Orders for six national banks with only one new entrant. The major changes this week result from the publication of nine actions issued by the Illinois Department of Financial & Professional Regulation. We applaud the transparency of the Illinois Department as they are the only state banking authority that publishes its safety & soundness enforcement actions against banks.
This week there are 11 additions and seven removals. The changes result in the Unofficial Problem Bank List having 937 institutions with assets of $409.4 billion, compared with 933 institutions and assets of $410.4 billion last week.
The seven removals include the four failures this week -- United Western Bank, Denver, CO ($2.1 billion Ticker: UWBK); CommunitySouth Bank and Trust, Easley, SC ($441 million Ticker: CBSO); The Bank of Asheville, Asheville, NC ($195 million Ticker: WFSC); and Enterprise Banking Company, McDonough, GA ($101 million). The other removals are Pacific Valley Bank, Salinas, CA ($172 million Ticker: PVBK), which announced in a press release that the FDIC had terminated its Consent Order and two problem banks that were acquired in unassisted transactions in December 2010 -- First National Bank of Chester County, West Chester, PA ($1.1 billion); and ShoreBank, Pacific, Ilwaco, WA ($180 million).
The new additions from the OCC and OTS are Amfirst Bank, National Association, McCook, NE ($254 million); and The Oculina Bank, Fort Pierce, FL ($133 million), respectively. The Illinois Department issued actions against Edens Bank, Wilmette, IL ($259 million); and eight banking subsidiaries of Metropolitan Bank Group, Inc. -- Archer Bank, Chicago, IL ($608 million); North Community Bank, Chicago, IL ($502 million); Plaza Bank, Norridge, IL ($374 million); Metropolitan Bank and Trust Company, Chicago, IL ($323 million); Chicago Community Bank, Chicago, Il ($297 million); The First Commercial Bank, Chicago, IL ($278 million); Citizens Community Bank of Illinois, Berwyn, IL ($218 million); and Community Bank of DuPage, Downers, IL ($61 million).
Next week, we anticipate for the FDIC to release its actions for December 2010, until then try to practice safe banking.
Posted by Bill McBride on 1/22/2011 08:42:00 AM