Friday, February 17, 2012

Unofficial Problem Bank list declines to 956 Institutions

by Bill McBride on 2/17/2012 09:07:00 PM

This is an unofficial list of Problem Banks compiled only from public sources.

Here is the unofficial problem bank list for Feb 17, 2012. (table is sortable by assets, state, etc.)

Changes and comments from surferdude808:

As expected, the OCC released its enforcement action activity through mid-January 2012 this week, which contributed to several changes to the Unofficial Problem Bank List this week. Given that the FDIC played nice with community banks by hosting an outreach conference in D.C. this week, it is not surprising they kept the closing teams grounded. In all, there were seven removals and five additions that leave the list with 956 institutions. However, assets were virtually unchanged at $389.56 billion. A year ago, there were 951 institutions with assets of $418.6 billion.

All of the removals were cures and include Plumas Bank, Quincy, CA ($472 million Ticker: PLBC); The Farmers National Bank of Prophetstown, Prophetstown, IL ($450 million); Resource Bank, National Association, Dekalb, IL ($342 million); The First National Bank of Eagle River, Eagle River, WI ($146 million); The First National Bank of Plainview, Plainview, MN ($140 million); Western National Bank, Cass Lake, MN ($32 million); and The First National Bank of Frederick, Frederick, SD ($18 million).

The additions include Riverview Community Bank, Vancouver, WA ($861 million); Mariners Bank, Edgewater, NJ ($294 million); American National Bank, Oakland Park, FL ($214 million); Commerce National Bank & Trust, Winter Park, FL ($100 million); and First National Bank of Wauchula, Wauchula, FL ($84 million).

Next Friday there is a good chance the FDIC will release its enforcement action activity for January 2012.
After peaking at 1,004 institutions last July, the number of institutions on the unofficial list has slowly declined. But this is still very high.