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Saturday, October 01, 2011

Unofficial Problem Bank list at 986 Institutions

by Calculated Risk on 10/01/2011 07:43:00 PM

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

Here is the unofficial problem bank list for Sept 30, 2011.

Changes and comments from surferdude808:

The Unofficial Problem Bank List finished the month unchanged at 986 institutions with assets of $405.4 billion after six additions and six removals this week. A year-ago, there were 872 institutions with assets of $422.4 billion on the unofficial list.

For the month, there were 15 additions, five failures, four unassisted mergers, and eight action terminations resulting in a net decline of two institutions. The number of institutions on the list fell for the third consecutive month. After declines the previous two months, however, assets rose during the month by $2.1 billion.

Removals include the failed First International Bank, Plano, TX ($240 million). Actions were terminated against Peoples Independent Bank, Boaz, AL ($169 million); Home Savings Bank, Salt Lake City, UT ($118 million); Rock Canyon Bank, Orem, UT ($114 million); and Grand Rivers Community Bank, Grand Chain, IL ($18 million). Ventura County Business Bank, Oxnard, CA ($78 million Ticker: VCBB) was removed as it merged into Royal Business Bank, Los Angeles, CA.

The six additions this week are Amalgamated Bank, New York, NY ($4.4 billion); Community First Bank & Trust, Columbia, TN ($640 million); State Central Bank, Keokuk, IA ($220 million); RiverBank, Spokane, WA ($149 million); The Bank of Kaukauna, Kaukauna, WI ($93 million); and Hometown Community Bank, Cyrus, MN ($24 million).

Other changes include the FDIC issuing a Prompt Corrective Action order against Community Shores Bank, Muskegon, MI ($224 million).

There were a few banks on the Unofficial Problem Bank List that have changed their name during the year including Pacific Capital Bank, National Association, Santa Barbara, CA n/k/a Santa Barbara Bank & Trust, National Association; The First National Bank of Chatsworth, Chatsworth, GA n/k/a First National Community Bank; and Generations Bank, Overland Park, KS n/k/a The Federal Savings Bank.

With the quarter-end, next week we will update the transition matrix as the week should be relatively quiet with the FDIC and OCC only releasing information on a monthly basis.
Summary for Week Ending Sept 30th
Schedule for Week of Oct 2nd