by Bill McBride on 7/28/2012 08:57:00 PM
Saturday, July 28, 2012
This is an unofficial list of Problem Banks compiled only from public sources.
Here is the unofficial problem bank list for July 27, 2012. (table is sortable by assets, state, etc.)
Changes and comments from surferdude808:
As anticipated, the FDIC released its enforcement actions through June 2012, which led to many change to the Unofficial Problem Bank List. For the week, there were seven removals and two additions leaving the list at 900 institutions with assets of $349.5 billion. A year ago, the list held 995 institutions with $415.4 billion in assets. For the month of July 2012, there were 12 additions and 29 removals, with 20 from action termination, six from failure, two from unassisted mergers, and one from voluntary liquidation.Earlier:
The seven removals this week came from action termination including Community Commerce Bank, Claremont, CA ($299 million); Traverse City State Bank, Traverse City, MI ($188 million); Security Bank, S.B., Springfield, IL ($160 million); Professional Bank, Coral Gables, FL ($152 million); Progrowth Bank, Nicollet, MN ($133 million); Capital Community Bank, Provo, UT ($122 million); and Colonial American Bank, Horsham, PA ($60 million). Professional Bank is only the 5th bank from Florida to be removed from the list because of action termination. Oregon and Georgia have only seen one bank and two banks, respectively, removed from the list. For the second week in a row, there was a failure in Georgia -- Jasper Banking Company, Jasper, GA -- that failed without being under an formal enforcement action.
The two additions were South Valley Bank & Trust, Klamath Falls, OR ($854 million) and First Security Bank of Helena, Helena, MT ($42 million).
The FDIC [issued] Prompt Corrective Action orders against Sevier County Bank, Sevierville, TN ($323 million) and Westside Community Bank, University Place, WA ($113 million).
• Summary for Week Ending July 27th
• Schedule for Week of July 29th
Posted by Bill McBride on 7/28/2012 08:57:00 PM