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Friday, September 18, 2009

Problem Bank List (Unofficial) Sept 18, 2009

by Calculated Risk on 9/18/2009 09:15:00 PM

This is an unofficial list of Problem Banks.

Note: Bank failures today, Irwin Union Bank, F.S.B., Louisville, KY, and Irwin Union Bank and Trust Company, Columbus, IN, were on this list.

Changes and comments from surferdude808:

There were large changes to Unofficial Problem Bank List as the OCC released some of its newly issued actions for late July and early August.

The list increased by a net of 12 institutions to 436 from 424 last week. Assets increased by $7.4 billion to $294 billion. There were five removals with assets of $8.5 including three failures -- Corus Bank, N.A. ($7 billion), Venture Bank ($991 million), and Brickwell Community Bank ($72.5 million); and two action terminations (First National Bank of Colorado City and Cumberland Valley National Bank).

Interestingly, last week Hometown National Bank, Longview, WA was removed as the OCC terminated a Formal Agreement only for them to be added back to this week’s list as the OCC subsequently placed Hometown under a Cease & Desist Order.

Of the 17 additions this week are several subsidiary banks of the privately controlled bank holding company FBOB Corporation based in Chicago, IL. These include the Park National Bank, Chicago, IL ($4.8 billion), San Diego National Bank, San Diego, CA ($3.4 billion), and Pacific National Bank, San Francisco, CA ($2.1 billion). The Federal Reserve issued a Written Agreement against FBOB Corporation on Sept 14, 2009. FBOB Corporation has assets of $18.3 billion and controls nine institutions supervised by either the OCC or FDIC with five subject to a formal enforcement action.

Other sizable additions to the list this week include the $1.2 billion asset Metrobank, National Association, Houston, TX, and the $1.1 billion asset Atlantic Southern Bank, Macon, GA.
The list is compiled from regulator press releases or from public news sources (see Enforcement Action Type link for source). The FDIC data is released monthly with a delay, and the Fed and OTC data is more timely. The OCC data is a little lagged. Credit: surferdude808.

See description below table for Class and Cert (and a link to FDIC ID system).

For a full screen version of the table click here.

The table is wide - use scroll bars to see all information!

NOTE: Columns are sortable - click on column header (Assets, State, Bank Name, Date, etc.)

Class: from FDIC
The FDIC assigns classification codes indicating an institution's charter type (commercial bank, savings bank, or savings association), its chartering agent (state or federal government), its Federal Reserve membership status (member or nonmember), and its primary federal regulator (state-chartered institutions are subject to both federal and state supervision). These codes are:
  • N National chartered commercial bank supervised by the Office of the Comptroller of the Currency
  • SM State charter Fed member commercial bank supervised by the Federal Reserve
  • NM State charter Fed nonmember commercial bank supervised by the FDIC
  • SA State or federal charter savings association supervised by the Office of Thrift Supervision
  • SB State charter savings bank supervised by the FDIC
  • Cert: This is the certificate number assigned by the FDIC used to identify institutions and for the issuance of insurance certificates. Click on the number and the Institution Directory (ID) system "will provide the last demographic and financial data filed by the selected institution".