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Saturday, November 05, 2011

Unofficial Problem Bank list declines to 985 Institutions

by Calculated Risk on 11/05/2011 08:38:00 PM

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

Here is the unofficial problem bank list for Nov 4, 2011. (table is sortable by assets, state, etc.)

Changes and comments from surferdude808:

Very quiet week for changes to the Unofficial Problem Bank List as there were only two removals. After the removals, the list holds 985 institutions with assets of $406.3 billion. A year ago, the list had 894 institutions with assets of $418.5 billion. It appears that the FDIC and OCC will be releasing their new enforcement actions during the last week of the month; thus, most changes to the list during the interim weeks will be from failures or unassisted mergers.

The removals this week were the two failures -- SunFirst Bank, Saint George, UT ($213 million) and Mid City Bank, Inc., Omaha, NE ($125 million), which were the first failures in Utah and Nebraska this year. Many readers may remember that the Vice Chairman of SunFirst Bank was arrested by federal authorities this past spring because of his involvement in operating an online poker website. Because of potential litigation, the FDIC is retaining about $15 million of SunFirst Bank's deposits.
Schedule for Week of Nov 6th
Summary for Week Ending Nov 4th