by Bill McBride on 8/11/2012 06:09:00 PM
Saturday, August 11, 2012
This is an unofficial list of Problem Banks compiled only from public sources.
Here is the unofficial problem bank list for Aug 10, 2012. (table is sortable by assets, state, etc.)
Changes and comments from surferdude808:
Activity by the Federal Reserve was responsible for most of the changes to the Unofficial Problem Bank List this week. The list pushed back up to 900 institutions but assets dropped by $780 million to $348.6 billion after three additions and two removals. A year ago, the list held 988 institutions with assets of $411.3 billion.Earlier:
The Federal Reserve terminated actions against LegacyTexas Bank, Plano, TX ($1.6 billion) and Coastal Community Bank, Everett, WA ($311 million). The additions were Beacon Federal, East Syracuse, NY ($1.0 billion Ticker: BFED); Asian Bank, Philadelphia, PA ($71 million); and The State Bank of Blue Mound, Blue Mound, IL ($37 million). The Federal Reserve issued a Prompt Corrective Action order against Gold Canyon Bank, Gold Canyon, AZ ($60 million).
Other news to report is the bankruptcy filing by Capitol Bancorp LTD (See Form 8-K) on August 9th. Back in the middle part of last decade, Capitol Bancorp owned/controlled more than 50 banks. After divestitures in an effort to prevent the collapse of the company, Capitol Bancorp is down to owning/controlling 15 banks, with 11 on the Unofficial Problem Bank List. The FDIC has issued cross-guaranty waivers in conjunction with several of the divestitures. This will bear watching to see if the bankruptcy filing results in any closings of the banks that Capitol Bancorp owns/controls.
• Summary for Week Ending Aug 10th
• Schedule for Week of Aug 12th
Posted by Bill McBride on 8/11/2012 06:09:00 PM