In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Sunday, April 29, 2012

Unofficial Problem Bank list declines to 930 Institutions

by Calculated Risk on 4/29/2012 02:01:00 PM

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

Here is the unofficial problem bank list for April 27, 2012. (table is sortable by assets, state, etc.)

Changes and comments from surferdude808:

Very busy week for the Unofficial Problem Bank List because of failures and the FDIC releasing its enforcement actions through March. In all, there were 17 removals and eight additions that leave the list with 930 institutions with assets of $361.7 billion. A year ago, the list held 984 institutions with assets of $422.1 billion. At 930 institutions, it is the lowest weekly count since December 24, 2010 when 919 institutions were on the list. During April 2012, there were 16 additions and 34 removals including 25 action terminations, six failures, and three unassisted mergers. For the month, the institution count fell by 18 to 930 and assets dropped by $15.8 billion to $361.7 billion.

Five banks were closed this Friday, which is the most in one night since five were closed nearly a year ago on April 29, 2011. This week is the 17th of the year and, for the past five years, it has been the third most active for closings at 4.2 institutions after the 44th week (mid-November) at 4.75 closings and 30th week (late July) at 4.5 closings. Removals from failure this week include Plantation Federal Bank, Pawleys Island, SC ($486 million); Inter Savings Bank, fsb D/B/A Interbank, fsb, Maple Grove, MN ($482 million); Bank of the Eastern Shore, Cambridge, MD ($167 million); HarVest Bank of Maryland, Gaithersburg, MD ($164 million); Palm Desert National Bank, Palm Desert, CA ($126 million).

There was one unassisted merger -- Brazos Valley Bank, National Association, College Station, TX ($112 million), which merged with American Momentum Bank, Tampa, FL. Action terminations include Opus Bank, Irvine, CA ($2.4 billion); Heritage Oaks Bank, Paso Robles, CA ($983 million); North Valley Bank, Redding, CA ($901 million); Citizens Bank of Mukwonago, Mukwonago, WI ($651 million); Northeast Bank, Minneapolis, MN ($352 million); Union State Bank, Pell City, AL ($275 million); The Peoples State Bank, Ellettsville, IN ($177 million); Quoin Financial Bank, Miller, SD ($131 million), Clarke County State Bank, Osceola, IA ($110 million); Americas United Bank, Glendale, CA ($100 million); and First State Bank of Kiester, Kiester, MN.

This week there were eight additions including Hudson Valley Bank, National Association, Stamford, CT ($2.8 billion Ticker: HVB); Macon Bank, Inc., Franklin, NC ($874 million); State Bank of Countryside, Countryside, IL ($728 million); Omaha State Bank, Omaha, NE ($292 million); Friends Bank, New Smyrna Beach, FL ($123 million Ticker: FRIE); Peoples State Bank, Lake City, FL ($74 million); Waterman State Bank, Waterman, IL ($48 million); and Colorado Valley Bank, SSB, La Grange, TX ($30 million).

Other changes include Prompt Corrective Action Orders being issued against Truman Bank, St. Louis, MO ($315 million) and Syringa Bank, Boise, ID ($197 million).
Summary for Week ending April 27th
Schedule for Week of April 29th
The upward slope of Real House Prices