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Saturday, August 20, 2011

Unofficial Problem Bank list declines to 984 Institutions

by Calculated Risk on 8/20/2011 07:06:00 PM

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

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

Changes and comments from surferdude808:

The Unofficial Problem Bank List dropped by four institutions this week to 984 while aggregate assets increased by $1.2 billion to $412.5 billion. In all, there were seven removals and three additions.

The removals include two cures, four failures, and an unassisted merger. The OCC terminated actions against Minnstar Bank National Association, Lake Crystal, MN ($101 million) and United Bank, National Association, Absarokee, MT ($71 million). The failures were Lydian Private Bank, Palm Beach, FL ($1.7 billion); First Southern National Bank, Statesboro, GA ($175 million); First Choice Bank, Geneva, IL ($150 million); and Public Savings Bank, Huntingdon Valley, PA ($49 million), which was closed unusually on a Thursday as the bank observed Shommer Shabat. The sole unassisted merger was First National Bank of The North, Sandstone, MN ($72 million) into Northview Bank, Finlayson, MN.

The additions include GreenBank, Greeneville, TN ($2.4 billion Ticker: GRNB); The First National Bank of Shelby, Shelby, NC ($971 million Ticker: FNSE); and Heartland Bank, Leawood, KS ($131 million), which was inadvertently removed as the FDIC modified its enforcement action instead of terminating it.

As expected, the OCC did release its enforcement actions through mid-July, the first since the merger with the OTS was completed, but there were no actions taken against any thrifts. Next week, we anticipate the FDIC will release its actions through July 2011.
CR Note: The FDIC will release the Q2 Quarterly Banking Profile soon - and also the official number of problems banks.

Summary for Week ending August 19th (with plenty of graphs)
Schedule for Week of Aug 21st