Saturday, September 24, 2011

Unofficial Problem Bank list at 986 Institutions

by Calculated Risk on 9/24/2011 07:23:00 PM

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

Here is the unofficial problem bank list for Sept 23, 2011.

Changes and comments from surferdude808:

Finally, the OCC released some information on its recent enforcement action activity. Interestingly, the information only included actions against national banks as the OCC has yet to release any activity with thrifts since the merger with the OTS this summer. This week, there were five removals and seven additions and the changes leave the Unofficial Problem Bank List with 986 institutions and assets of $400.4 billion. Comparatively, there were 872 institutions with assets of $422.4 billion on the list a year ago.

The removals include an action termination against Border Capital Bank, National Association, McAllen, TX ($171 million); and two unassisted mergers -- GreenBank, Greenville, TN ($2.3 billion Ticker: GRNB) and The Merchants & Farmers Bank, Melville, LA ($8 million). Other removals include the two failures -- Bank of the Commonwealth, Norfolk, VA ($985 million Ticker: CWBS) and Citizens Bank of Northern California, Nevada City, CA ($289 million Ticker: CZNB).

Among the additions are Citizens National Bank of Texas, Waxahachie, TX ($526 million); Grayson National Bank, Independence, VA ($358 million Ticker: GSON); Fidelity National Bank, West Memphis, AR ($327 million); and Intercredit Bank, National Association, Miami, FL ($256 million). Long-time readers may remember that Intercredit Bank, N.A. was removed in July when the OCC terminated a Formal Agreement only to return this week under a Consent Order. The OCC is asymmetrical in the publication of its actions with terminations happening more real-time while new actions are issued with a lag. Perhaps the removal of Border Capital Bank, N.A. may prove premature if its Formal Agreement is actually replaced by a Consent Order like Intercredit Bank, N.A.

Next week, we expect the FDIC to release its actions through August 2011.
Schedule for Week of Sept 25th
Summary for Week Ending Sept 23rd