Sunday, October 29, 2017

October 2017: Unofficial Problem Bank list declines to 111 Institutions

by Bill McBride on 10/29/2017 08:14:00 AM

Note: Surferdude808 compiles an unofficial list of Problem Banks compiled only from public sources.

Here is the unofficial problem bank list for October 2017.

Here are the monthly changes and a few comments from surferdude808:

Update on the Unofficial Problem Bank List for October 2017.  The list declined by eight to 111 banks.  Aggregate assets dropped by $1.1 billion to $26.6 billion.  A year ago, the list held 173 institutions with assets of $54.9 billion.

Actions were terminated against First National Bank of Griffin, Griffin, GA ($260 million); Citizens Commerce National Bank, Versailles, KY ($223 million); First National Bank of Brookfield, Brookfield, IL ($175 million); Delanco Federal Savings Bank, Delanco, NJ ($126 million); Americana Community Bank, Sleepy Eye, MN ($110 million); Gunnison Valley Bank, Gunnison, UT ($81 million); and Citizens First State Bank of Walnut, Walnut, IL ($45 million).

The Farmers and Merchants State Bank of Argonia, Argonia, KS ($34 million) failed on October 13, 2017.  This is the seventh bank to fail this year and the 528th bank to fail in the wake of the Great Recession.  Of the 528 failures, ten have been in Kansas.