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Saturday, March 24, 2012

Unofficial Problem Bank list declines to 949 Institutions

by Calculated Risk on 3/24/2012 04:11:00 PM

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

Here is the unofficial problem bank list for March 23, 2012. (table is sortable by assets, state, etc.)

Changes and comments from surferdude808:

The FDIC got back to shuttering banks this week which contributed to the changes to the Unofficial Problem Bank List this week. In total, there were four removals and one addition, which leaves the list with 949 institutions with assets of $379.8 billion. A year ago, there were 985 institutions with assets of $431.1 billion on the list.

The removals from failure were Premier Bank, Wilmette, IL ($269 million) and Covenant Bank & Trust, Rock Spring, GA ($96 million), which is the 78th bank failure in Georgia since the inception of the crisis. The removals include two action terminations - by the Federal Reserve - against The Citizens Bank of Edmond, Edmond, OK ($262 million) and Mid America Bank & Trust Company, Dixon, MO ($129 million). Look for the Federal Reserve to ramp-up its termination of orders against community banks as it recently issued guidance to its examiners to upgrade ratings if progress has been made "when there is a demonstrated improvement in the organization's financial condition and risk management practices, and where improvement is likely to continue."

The addition this week is Orrstown Bank, Shippensburg, PA ($1.4 billion Ticker: ORRF). Next week, we anticipate for the FDIC to release its enforcement action activity during February 2012.
Summary for Week ending March 23rd