Saturday, January 08, 2011

Unofficial Problem Bank list at 932 Institutions

by Calculated Risk on 1/08/2011 07:48:00 AM

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

Here is the unofficial problem bank list for Jan 7, 2011.

Changes and comments from surferdude808:

The FDIC got back to work closing some banks and updating their structure database, which contributed to most of the seven removals this week. Also, there were four additions this week. The net changes leave the Unofficial Problem Bank List standing at 932 institutions with aggregate assets of $410 billion.

The removals include two failures -- First Commercial Bank of Florida, Orlando, FL ($598 million); and Legacy Bank, Scottsdale, AZ ($151 million); four unassisted mergers -- Bank of Smithtown, Smithtown, NY ($2.3 billion Ticker: PBCT); The Bank of Currituck, Moyock, NC ($173 million); Century Bank, Parma, OH ($128 million); and Texas Country Bank, Lakeway, TX ($54 million); and one action termination -- Savings Bank of Maine, Gardiner, ME ($861 million).

The additions were MetaBank, Storm Lake, IA ($1.0 billion Ticker: CASH); Tidelands Bank, Mount Pleasant, SC ($566 million Ticker: TDBK); Community First Bank, Boscobel, WI ($244 million); and Americantrust Federal Savings Bank, Peru, IN ($105 million).

The OCC may release its actions through mid-December 2010 next week, but since the 15th falls on Saturday it would not surprise if they did not release it until the 21st of January.