by Bill McBride on 1/24/2015 08:11:00 AM
Saturday, January 24, 2015
This is an unofficial list of Problem Banks compiled only from public sources.
Here is the unofficial problem bank list for Jan 23, 2015.
Changes and comments from surferdude808:
For the second straight week, there is a bank failure that contributed to changes to the Unofficial Problem Bank List. In all, there were two removals that lowered the list count to 390 institutions with assets of $122.5 billion. A year ago, the list held 600 institutions with $197.9 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 390 - only one more than when we started.
Valley National Bank, Espanola, NM ($174 million), which has been on the list since its first publication in 2009, found a merger partner in order to escape the list. Highland Community Bank, Chicago, IL ($58 million) was closed today by the FDIC. It was the 62nd bank headquartered in Illinois to fail since the on-set of the Great Recession in 2008.
Next week, we anticipate for the FDIC to release an update on its latest enforcement action activities.
Posted by Bill McBride on 1/24/2015 08:11:00 AM