Friday, February 24, 2017

February 2017: Unofficial Problem Bank list declines to 155 Institutions

by Bill McBride on 2/24/2017 09:49:00 PM

This is an unofficial list of Problem Banks compiled only from public sources.

Here is the unofficial problem bank list for February 2017.

Changes and comments from surferdude808:

Update on the Unofficial Problem Bank List for February 2017.  During the month, the list dropped from 163 to 155 institutions after nine removals and one addition.  Aggregate assets fell by $1.25 billion to $41.8 billion.  A year ago, the list held 229 institutions with assets of $66.0 billion.

Actions were terminated against Bank of Bartlett, Bartlett, TN ($359 million); Farmers & Merchants Bank, Eatonton, GA ($170 million); Solera National Bank, Lakewood, CO ($149 million  Ticker: SLRK); Liberty Bell Bank, Marlton, NJ ($145 million  Ticker: LBBB); Gulf Coast Community Bank, Pensacola, FL ($135 million); Colonial Co-operative Bank, Gardner, MA ($73 million); and American Patriot Bank, Greeneville, TN ($58 million).

Several banks merged to find their way off the problem bank list including Polonia Bank, Huntingdon Valley, PA ($276 million  Ticker: PBCP) and MBank, Gresham, OR ($158 million  Ticker: MBNC).

The addition this month was Ashton State Bank, Ashton, NE ($23 million).

We anticipate for the FDIC on Tuesday to release industry results for the fourth quarter and updated figures for the official problem bank list.