by Bill McBride on 2/27/2016 02:56:00 PM
Saturday, February 27, 2016
This is an unofficial list of Problem Banks compiled only from public sources.
Here is the unofficial problem bank list for February 2016.
Changes and comments from surferdude808:
Update on the Unofficial Problem Bank List for February 2016. During the month, the list fell from 238 institutions to 228 after 11 removals and two additions. Assets dropped by $3.5 billion to an aggregate $66.0 billion. The asset total was updated to reflect fourth quarter figures, which resulted in a small increase of $728 million. A year ago, the list held 357 institutions with assets of $109.2 billion. This past week, the FDIC released fourth quarter industry results and an update on the Official Problem Bank List. FDIC said the official list held 183 problem banks, a decline of 20 during the quarter. Over the same horizon, the unofficial list declined by 27 banks.
Actions have been terminated against Centrue Bank, Streator, IL ($942 million Ticker: TRUE); Four Oaks Bank & Trust Company, Four Oaks, NC ($690 million); OneUnited Bank, Boston, MA ($649 million); New Peoples Bank, Inc., Honaker, VA ($634 million; Highlands Union Bank, Abingdon, VA ($618 million Ticker: HBKA); Arthur State Bank, Union, SC ($459 million); The First National Bank of Russell Springs, Russell Springs, KY ($206 million); The First National Bank of Absecon, Absecon, NJ ($147 million Ticker: ASCN); Asian Bank, Philadelphia, PA ($130 million); F&M Bank and Trust Company, Hannibal, MO ($114 million); and Ruby Valley National Bank, Twin Bridges, MT ($91 million).
Gateway Bank, FSB, Oakland, CA ($142 million) found a merger partner in order to get off the list. [UPDATE: This was an error, Gateway did not merge.]
Additions this month were Dieterich Bank, N.A., Dieterich, IL ($574 million) and Louisa Community Bank, Louisa, KY ($32 million).
Posted by Bill McBride on 2/27/2016 02:56:00 PM