by Bill McBride on 1/17/2015 08:11:00 AM
Saturday, January 17, 2015
This is an unofficial list of Problem Banks compiled only from public sources.
Here is the unofficial problem bank list for Jan 16, 2015.
Changes and comments from surferdude808:
A bank failure and the OCC releasing an anticipated update on its recent enforcement action activities led to several changes to the Unofficial Problem Bank List. This week there were eight removals and one addition that leave the list at 392 institutions with assets of $122.8 billion. A year ago, the list held 605 institutions with $199.8 billion in assets.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 392 - almost full circle!
First Federal Savings Bank of Elizabethtown, Elizabethtown, KY ($754 million) and Bank of Coral Gables, Coral Gables, FL ($103 million) found merger partners to make their way off the list. The OCC terminated actions against The Bank of Maine, Portland, ME ($790 million); The First National Bank of Talladega, Talladega, AL ($389 million); Universal Bank, West Covina, CA ($321 million); Atlantic National Bank, Brunswick, GA ($142 million); and Clay County Savings Bank, Liberty, MO ($87 million).
First National Bank of Crestview Crestview, FL ($80 million) was the first bank failure in 2015. It is the 72nd failure of a Florida-based institution since the on-set of the Great Recession in 2008. With 88, only Georgia has more failed institutions.
The OCC issued a new action against First National Bank, Waupaca, WI ($778 million).
Next week will likely see fewer changes to the list.
Posted by Bill McBride on 1/17/2015 08:11:00 AM