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Saturday, April 06, 2013

Unofficial Problem Bank list declines to 790 Institutions, Q1 Transition Matrix

by Calculated Risk on 4/06/2013 06:56:00 PM

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

Here is the unofficial problem bank list for Apr 5, 2013.

Changes and comments from surferdude808:

The failure last night is the only change to the Unofficial Problem Bank List this week. The removal leaves the list at 790 institutions with assets of $290.0 billion. A year ago the list held 946 institutions with assets of $376.5 billion. Gold Canyon Bank, Gold Canyon, AZ ($45 million Ticker: GCYO) is the fifth failure this year and the 13th bank to fail in Arizona since the on-set of the financial crisis.

With the first quarter of 2013 ending this past week, it is time for an update of the transition matrix. As seen in the table, there have been a total of 1,624 institutions with assets of $811.2 billion that have appeared on the list. For the first time since publication of the list, more than half of the institutions that have appeared on the list have been removed. Specifically, 833 institutions or 51.3 percent of the total are no longer on the list. Failure is still the primary removal reason as 351 institutions with assets of $290.8 billion have failed since appearing on the list. However, action terminations are rapidly approaching the number of failures. A total of 343 institutions with assets of $153.2 billion have improved enough for their enforcement action to be terminated. Other forms of exit include 129 institutions with assets of $55.9 billion finding a merger partner and 10 institutions with assets of $6.7 billion voluntarily surrendering their banking charters. The slowdown in action terminations noted last quarter reversed as 51 terminations occurred during the first quarter of 2013 compared to 40 in the fourth quarter of 2012. Next quarter, terminations will finally exceed failures.
Unofficial Problem Bank List
Change Summary
 Number of InstitutionsAssets ($Thousands)
Start (8/7/2009) 389276,313,429
 Action Terminated104(31,414,531)
 Unassisted Merger26(4,191,282)
 Voluntary Liquidation3(4,896,324)
 Asset Change (14,534,468)
Still on List at 12/28/2012 10839,047,877
Additions 683250,947,679
End (12/28/2012) 791289,995,556
Intraperiod Deletions1   
 Action Terminated239121,805,500
 Unassisted Merger10351,745,000
 Voluntary Liquidation71,760,816
1Institution not on 8/7/2009 or 3/31/2013 list but appeared on a weekly list.

Summary for Week Ending April 5th
Schedule for Week of April 7th