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Friday, June 04, 2010

Unofficial Problem Bank List: Assets increase sharply

by Calculated Risk on 6/04/2010 11:03:00 PM

Earlier employment posts today:

  • May Employment Report: 20K Jobs ex-Census, 9.7% Unemployment Rate for graphs of unemployment rate and a comparison to previous recessions.
  • Employment-Population Ratio, Part Time Workers, Unemployed over 26 Weeks (including graph of job losses during recessions aligned at the bottom)

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

    Here is the unofficial problem bank list for June 4, 2010.

    Changes and comments from surferdude808:
    The Unofficial Problem Bank List finishes the week unchanged in terms of the number of institutions at 762, but there was a substantial increase in assets to $385.9 billion from $369.2 billion.

    There were four additions this week including Firstbank of Puerto Rico, Santurce, PR ($18.8 billion Ticker: FBP); Home Savings of America, Little Falls, MN ($472 million); Builders Bank, Chicago, IL ($464 million); and the Bank of Little Rock, Little Rock, AR ($185 million).

    Removals include the failed TierOne Bank ($2.8 billion Ticker: TONE) and Arcola Homestead Savings Bank ($17 million). Other removals are from the OCC terminating Formal Agreements against Valley National Bank, Espanola, NM ($337 million) and Standing Stone National Bank, Lancaster, OH ($74 million). However, it is likely these removals will be short-lived as the OCC has frequently replaced a terminated Formal Agreement with a Consent Order during this banking crisis.

    We are anticipating the OCC will release its enforcement actions for May by next Friday
    CR note: The FDIC reported there were 775 institutions with assets of $431 billion on the official problem bank list at the end of Q1. There are some timing issues, but the overall number of institutions on the unofficial list is very close to the official list. The addition of Firstbank of Puerto Rico has closed the asset gap, but there is the possibility that a large regional bank may be on the official problem bank list.