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Sunday, May 22, 2011

Unofficial Problem Bank list increases to 988 Institutions

by Calculated Risk on 5/22/2011 08:11:00 AM

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

Here is the unofficial problem bank list for May 20, 2011.

Changes and comments from surferdude808:

There were many changes to Unofficial Problem Bank List because of failure and the OCC releasing its actions through mid-April 2011. In all, there were 12 additions and seven removals, which leaves the list at 988 institutions with assets of $423.9 billion. Last week, the list had 983 institutions with assets of $425.4 billion.

The removals include the three failures this week -- Atlantic Southern Bank, Macon, GA ($781 million Ticker: ASFNE); First Georgia Banking Company, Franklin, GA ($780 million); and Summit Bank, Burlington, WA ($147 million). Actions were terminated against Central Pacific Bank, Honolulu, HI ($3.9 billion Ticker: CPF); CenTrust Bank, National Association, Northbrook, IL ($103 million); and The First National Bank of Farragut, Shenandoah, IA ($35 million). The other removal is Union National Community Bank, Lancaster, PA ($446 million), which merged on an unassisted basis with Union Community Bank FSB, Lancaster, PA.

Among the 12 additions are Old Second National Bank, Aurora, IL ($2.1 billion Ticker: OSBC); Great Lakes Bank, National Association, Blue Island, IL ($642 million Ticker: GLFL); and SCB Bank, Shelbyville, IN ($256 million Ticker: BRBI). Also, the OCC issues a Consent Order against Southwestern National Bank, Houston, TX ($319 million), which was removed prematurely two weeks ago when the OCC terminated the Formal Agreement against the bank.

Next week, the FDIC should release its actions through April 2011. Given that the list stands at 988 institutions, there is an outside chance the could go over 1,000 institutions next week.
Yesterday ...
Summary for Week Ending May 20th
Schedule for Week of May 22nd