Saturday, August 06, 2011

Unofficial Problem Bank list declines to 988 Institutions

by Calculated Risk on 8/06/2011 08:14:00 AM

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

Here is the unofficial problem bank list for Aug 5, 2011.

Changes and comments from surferdude808:

Busy week for removals with the two failures this Friday night and after the FDIC updated its structure database to reflect some recent unassisted mergers. The removals plus one addition leave the Unofficial Problem Bank List at 988 institutions with assets of $411.6 billion, down from 995 institutions with assets of $415.4 billion last week.

The removals from failure include Bank of Whitman, Colfax, WA ($608 million) and Bank of Shorewood, Shorewood, IL ($120 million). Consistent with an American Banker article published in the past month that said regulators are pushing troubled banks to find merger partners, there were six removals because of unassisted mergers including Wilmington Trust FSB, Baltimore, MD ($2.3 billion); Sunrise Bank, San Diego, CA ($232 million); Jefferson Bank, Dallas, TX ($205 million); Bank of the Northwest, Bellevue, WA ($146 million); Cornerstone Bank & Trust, National Association, Carrollton, IL ($144 million); and Heritage Bank, National Association, Holstein, IA ($137 million).

The flow of new additions will become lumpier with the shuttering of the OTS as the OCC and FDIC only release actions on a monthly basis instead of when they are issued like the Federal Reserve and OTS.
Employment posts yesterday (with graphs):
July Employment Report: 117,000 Jobs, 9.1% Unemployment Rate
Employment Summary, Part Time Workers, and Unemployed over 26 Weeks
More Employment (Duration, Education, Diffusion Index)
Employment graph gallery