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Saturday, September 11, 2010

Unofficial Problem Bank List increases to 849 institutions

by Calculated Risk on 9/11/2010 08:43:00 AM

Note: this is an unofficial list of Problem Banks compiled only from public sources.

Here is the unofficial problem bank list for September 10, 2010.

Changes and comments from surferdude808:

After six additions and one removal, the Unofficial Problem Bank List includes 849 institutions with aggregate assets of $415.3 billion, up from 844 institutions with assets of $412 billion last week.

The additions include First National Community Bank, Dunmore, PA ($1.3 billion Ticker: FNCB); Pacific Mercantile Bank, Costa Mesa, CA ($1.1 billion Ticker: PMBC); Community Shores Bank, Muskegon, MI ($262 million Ticker: CSHB); First American State Bank, Greenwood, CO ($244 million); Service1st Bank of Nevada, Las Vegas, NV ($232 million Ticker: WLBC); and Bank of the Eastern Shore, Cambridge, MD ($223 million).

The removal is the failed Horizon Bank ($188 million). Next week, we anticipate for the OCC to release its actions for August.
The FDIC has only closed one bank over the last three weeks - but the additions keep coming!