by Bill McBride on 11/08/2014 04:52:00 PM
Saturday, November 08, 2014
This is an unofficial list of Problem Banks compiled only from public sources.
Here is the unofficial problem bank list for Nov 7, 2014.
Changes and comments from surferdude808:
Surprising these days to have a bank failure in three out of the past four weeks, but that is just what happened. Along with the failure there were two other removals this week that push the Unofficial Problem Bank List count down to 419 institutions with assets of $131.9 billion. A year ago, the list held 661 institutions with assets of $228.8 billion.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 down to 419.
Frontier Bank, FSB, Palm Desert, CA ($88 million) became the 17th failure this year and 40th institution headquartered in California to fail since the on-set of the Great Recession. Other removals include an action termination at Carver Federal Savings Bank, New York, NY ($648 million) and a change in control and recapitalization of Michigan Commerce Bank, Ann Arbor, MI ($922 million).
Next week should be quiet as the OCC likely will not provide an update on its latest enforcement action activity until November 21st.
Posted by Bill McBride on 11/08/2014 04:52:00 PM