Friday, March 30, 2012

Unofficial Problem Bank list declines to 948 Institutions

by Bill McBride on 3/30/2012 10:30:00 PM

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

Here is the unofficial problem bank list for March 30, 2012. (table is sortable by assets, state, etc.)

Changes and comments from surferdude808:

As expected, the FDIC released its enforcement action activity for February 2012. For the week, there were six removals and five additions, which leave the Unofficial Problem Bank List with 948 institutions and assets of $377.6 billion. A year ago, there were 985 institutions with assets of $431.1 billion. For the month of March 2012, there were 21 removals and nine additions or a net decline of 12 institutions and assets of $12.1 billion. This month there were 14 removals from action termination, which is the first month since the list has been published that action terminations greatly outpaced new additions.

The action terminations this week include Homestreet Bank, Seattle, WA ($2.2 billion); Security State Bank, Scott City, KS ($132 million); United Pacific Bank, City Of Industry, CA ($126 million); America California Bank, San Francisco, CA ($123 million); and Peoples Bank of the South, Bude, MS ($78 million). The failed Fidelity Bank, Dearborn, MI ($843 million Ticker: DEAR), which had been operating under a Prompt Corrective Action order since September 2011, was also removed this week.

The five additions include Community Bank of Florida, Inc., Homestead, FL ($525 million); Frontier Bank, LaGrange, GA ($298 million); Bank of Eastman, Eastman, GA ($221 million); First Enterprise Bank, Oklahoma City, OK ($167 million); and Surety Bank, DeLand, FL ($112 million).
The unofficial problem bank list peaked at 1,004 institutions in July 2011, and has slowly declined since then.

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