by Bill McBride on 10/29/2016 02:45:00 PM
Saturday, October 29, 2016
This is an unofficial list of Problem Banks compiled only from public sources.
Here is the unofficial problem bank list for October 2016.
Changes and comments from surferdude808:
Update on the Unofficial Problem Bank List for October 2016. During the month, the list fell from 177 institutions to 173 after five removals and one addition. Assets dropped by $562 million to an aggregate $54.9 billion. A year ago, the list held 264 institutions with assets of $79.2 billion.
Actions have been terminated against Horry County State Bank, Loris, SC ($383 million Ticker: HCFB) and Heritage Community Bank, Greeneville, TN ($89 million). Finding merger partners were Landmark Community Bank, National Association, Isanti, MN ($80 million); Citizens State Bank, Kingsland, GA ($56 million); and Home Savings Bank, Jefferson City, MO ($24 million). Added this month was The First National Bank of Lacon, Lacon, IL ($70 million).
In a change, the OCC released an update on its enforcement action activity today, the last Friday of the month. Historically, the OCC has issued its update on the first Friday following the 15th of the month. While the FDIC provides a release on the last Friday of the month as well; however, it only includes action changes for the preceding month, so their information has a longer lag time. Conversely, the Federal Reserve releases individual action changes as they occur instead of waiting to accumulate them in a monthly release.
Posted by Bill McBride on 10/29/2016 02:45:00 PM