Saturday, July 23, 2011

Unofficial Problem Bank list declines to 993 Institutions

by Bill McBride on 7/23/2011 08:15:00 AM

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

Here is the unofficial problem bank list for July 22, 2011.

Changes and comments from surferdude808:

This week there were four removals and two additions to the Unofficial Problem Bank List. These changes result in the list having 993 institutions with $415.7 billion in assets, down from 995 institutions with assets of $$416.2 last week.

Failure remains the most likely way to exit the list. Leaving via failure this week were Bank of Choice, Greeley, CO ($1.1 billion); LandMark Bank of Florida, Sarasota, FL ($275 million); and SouthShore Community Bank, Apollo Beach, FL ($46 million Ticker: SSHC). The other removal was an action termination against Alterra Bank (f/k/a 1st Financial Bank), Overland Park, KS ($133 million).

The two additions were Liberty Bank, F.S.B., West Des Moines, IA ($1.0 billion) and Columbia Savings and Loan Association, Milwaukee, WI ($23 million).

Next week, we anticipate the FDIC will release its actions for June 2011.