Saturday, January 26, 2013

Unofficial Problem Bank list declines to 825 Institutions

by Bill McBride on 1/26/2013 07:18:00 PM

Here is the unofficial problem bank list for Jan 25, 2012.

Changes and comments from surferdude808:

As anticipated, the FDIC released its enforcement actions through December 2012, which led to several changes to the Unofficial Problem Bank List. For the week, there were six removals and five additions leaving the list at 825 institutions with assets of $308.9 billion. A year ago, the list held 958 institutions with assets of $389.0 billion. For the month, the list was down by 13 and $4.1 billion in assets after two failures, four unassisted mergers, 15 action terminations, one voluntary liquidation, and nine additions.

First National Bank, Hays, KS ($79 million) found a merger partner to get off the list. The FDIC terminated actions against Farmers & Merchants Bank, Lakeland, GA ($597 million); Border State Bank, Greenbush, MN ($338 million); Stoneham Savings Bank, Stoneham, MA ($326 million); Paragon Bank, Wells, MN ($30 million); and Peoples State Bank of Madison Lake, Madison Lake, MN ($24 million).

The FDIC issued actions against Bank of Washington, Washington, MO ($853 million); Community First Bank, Inc., Walhalla, SC ($463 million Ticker: CFOK); Central Bank, Savannah, TN ($160 million); Mountain Valley Bank, Dunlap, TN ($99 million); and US Metro Bank, Garden Grove, CA ($88 million Ticker: USMT). Also, the FDIC issued a Prompt Corrective Action order against First South Bank, Spartanburg, SC ($336 million Ticker: FSBS).

Next week should be a quiet one for the changes to the list.
Earlier:
Summary for Week Ending Jan 25th
Schedule for Week of Jan 27th

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