by Bill McBride on 1/31/2015 08:05:00 AM
Saturday, January 31, 2015
UPDATE: The Federal Reserve announced the termination of the enforcement action for Pacific Mercantile Bancorp, Costa Mesa, California; Pacific Mercantile Bank, Costa Mesa, California on Nov 20, 2014. The bank has been removed from the "unofficial list".
This is an unofficial list of Problem Banks compiled only from public sources.
Here is the unofficial problem bank list for Jan 30, 2015.
Changes and comments from surferdude808:
As expected, the FDIC released an update on its enforcement action activities through December 2014 that contributed to all of the changes to the Unofficial Problem Bank List this week. In all, there were five removals and three additions that leave the list at 388 institutions with assets of $122.5 billion. A year ago, the list held 590 institutions with assets of $195.4 billion. When the weekly was list was first published back on August 7, 2009 it had 389 institutions, so this is the first time a subsequent list held fewer institutions than its inception. There are still 53 institutions from the original list that still remain on it.CR Note: As Surfer Dude noted, the list has come full circle (back to number when we started)!
FDIC terminated actions against Signature Bank of Arkansas, Fayetteville, AR ($492 million); Village Bank, Saint Francis, MN ($176 million); Golden Eagle Community Bank, Woodstock, IL ($136 million); The Wilmington Savings Bank, Wilmington, OH ($127 million); and VistaBank, Aiken, SC ($107 million).
FDIC issued new actions against Seaway Bank and Trust Company, Chicago, IL ($522 million); International Bank, Raton, NM ($292 million); and Sage Bank, Lowell, MA ($208 million).
Next week will likely see fewer changes to the list.