Sunday, April 30, 2017

April 2017: Unofficial Problem Bank list declines to 151 Institutions

by Bill McBride on 4/30/2017 10:26:00 AM

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

Changes and comments from surferdude808:

Update on the Unofficial Problem Bank List for April 2017.  During the month, the list dropped from 151 to 148 institutions after four removals and one addition.  Aggregate assets fell by $5.2 billion to $36.1 billion.  A year ago, the list held 223 institutions with assets of $64.6 billion.

Actions were terminated against The Heritage Bank, Hinesville, GA ($542 million); The Bank of Commerce, Sarasota, FL ($183 million); and Peoples National Bank, Niceville, FL ($103 million).

This Friday, the FDIC closed a bank for the fourth time this year shuttering First NBC Bank, New Orleans, LA ($4.7 billion).  This is the largest failure since the $5.9 billion Doral Bank, San Juan, PR on February 27, 2015.  Since the on-set of the Great Recession in 2007, 525 insured institutions with assets of $749 billion have failed with resolution costs of $96.3 billion.

The addition this month was Admirals Bank, Boston, MA ($323 million).  Also, the FDIC issued a deposit insurance termination action against Builders Bank, Chicago, IL ($41 million).