Saturday, November 29, 2014

Unofficial Problem Bank list declines to 408 Institutions

by Bill McBride on 11/29/2014 08:15:00 AM

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

Here is the unofficial problem bank list for Nov 28, 2014.

Changes and comments from surferdude808:

This week, the FDIC provided an update on its latest enforcement action activity and updated aggregate figures for their official problem banks. After four additions and seven removals, the Unofficial Problem Bank List holds 408 institutions with assets of $124.7 billion. A year ago, the list held 645 institutions with assets of $221.2 billion. During November, the list count dropped by 14 institutions after four additions, 13 action terminations, four mergers, and one failure. It was the most institutions added in a month since five were added back in October 2013.

The FDIC terminated actions against CNLBank, Orlando, FL ($1.3 billion); Chambers Bank, Danville, AR ($773 million); Pine River Valley Bank, Bayfield, CO ($142 million); Hanover Community Bank, Garden City Park, NY ($142 million); Heritage Bank & Trust, Columbia, TN ($102 million); Thayer County Bank, Hebron, NE ($55 million); and Riverland Bank, Jordan, MN ($44 million).

The FDIC issued actions against Noah Bank, Elkins Park, PA ($317 million); Pacific Valley Bank, Salinas, CA ($231 million Ticker: PVBK); Lafayette State Bank, Mayo, FL ($93 million); and Bison State Bank, Bison, KS ($9 million).

The FDIC reported its number of problem banks had fallen for 14 consecutive quarters to 329 institutions with assets of $102 billion. So the difference between the FDIC numbers and the Unofficial number is 79 institutions and $22.7 billion in assets, which is down from a difference of 85 institutions and $30 billion in assets last quarter.
CR Note: The first unofficial problem bank list was published in August 2009 with 389 institutions. The list peaked at 1,002 institutions on June 10, 2011, and is now back down to 408.  Almost a round trip ...