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

Sunday, May 27, 2012

Unofficial Problem Bank list increases to 931 Institutions

by Calculated Risk on 5/27/2012 05:52:00 PM

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

Here is the unofficial problem bank list for May 25, 2012. (table is sortable by assets, state, etc.)

Changes and comments from surferdude808:

As expected, this week the FDIC released the Official Problem Bank List through March 2012 and it enforcement actions through April 2012. For the week, there were nine removals and 12 additions, which leaves the Unofficial Problem Bank List with 931 institutions and assets of $358.1 billion. A year ago, the list held 997 institutions with assets of $415.4 billion. From last week, the count on the UPBL increased by three while assets dropped by $3.9 billion. However, the decline in assets was solely due to shrinkage as updated assets figures through q1 declined by $5.1 billion. Moreover, the count increased in back-to-back weeks, which has not happened since a three consecutive weekly increase from June 24, 2011 through July 8, 2011. For the month, the UPBL increased from 930 to 931, but assets declined by $3.7 billion with the shrinkage also due to the updated assets figures. The FDIC reported the Official Problem Bank List at 772 institutions with assets of $292 billion.

The nine removals all were action terminations -- The Stillwater National Bank and Trust Company, Stillwater, OK ($2.0 billion Ticker: OKSB); Guaranty Bank and Trust Company, Denver, CO ($1.7 billion Ticker: GBNK); Transportation Alliance Bank, Inc., Ogden, UT ($852 million); First State Bank, New London, WI ($284 million); Front Range Bank, Lakewood, CO ($152 million); Bank of Alpena, Alpena, MI ($70 million); Security State Bank of Kenyon, Kenyon, MN ($53 million); VisionBank, Saint Louis Park, MN ($31 million); and Quality Bank, Fingal, ND ($25 million).

The 12 additions this weekly are the most since 16 institutions were added for the UPBL published on October 28, 2011. The additions this week were SpiritBank, Tulsa, OK ($1.3 billion); Crown Bank, Elizabeth, NJ ($575 million); Community Bank of Broward, Dania Beach, FL ($464 million); The Foster Bank, Chicago, IL ($441 million); Anderson Brothers Bank, Mullins, SC ($438 million); The Bank of Delmarva, Seaford, DE ($437 million Ticker: DBCP); Affinity Bank, Atlanta, GA ($285 million); Highlands Independent Bank, Sebring, FL ($270 million); The First National Bank of Ottawa, Ottawa, IL ($270 million Ticker: FOTB); First Trust and Savings Bank, Oneida, TN ($149 million); Hometown Community Bank, Braselton, GA ($137 million); and Legacy State Bank, Loganville, GA ($74 million).

Other changes include the FDIC issuing a Prompt Corrective Action Order against The Farmers Bank of Lynchburg, Lynchburg, TN ($164 million). Strangely, the PCA order was issued on November 21, 2011, but the FDIC waited until May 2012 to disclose.

It is anticipated next week's activity will be largely removals so the consecutive weekly increase should end. Until then, wishing all our readers a safe and happy Memorial Day weekend and we send out many thanks for all the past and current and their families for their service and sacrifice securing our freedom.
Summary for Week Ending May 25th
Schedule for Week of May 27th