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Saturday, April 20, 2013

Unofficial Problem Bank list declines to 781 Institutions

by Calculated Risk on 4/20/2013 10:14:00 AM

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

Here is the unofficial problem bank list for Apr 19, 2013.

Changes and comments from surferdude808:

The FDIC got back to closing banks with a vengeance and, as anticipated, the OCC released its actions through mid-March 2013, which caused many changes to the Unofficial Problem Bank list. In all, there were seven removals and two additions that leave the list at 781 institutions with assets of $288.5 billion. A year ago, the list held 976 institutions with assets of $422.2 billion.

The OCC terminated actions against American National Bank, Wichita Falls, TX ($462 million); Legacy National Bank, Springdale, AR ($275 million); and The First National Bank of Kemp, Kemp, TX ($55 million). Farmers State Bank, Faith, SD ($48 million) left the list through an unassisted merger.

The FDIC closed three banks this week. It has been about six months since the FDIC last closed three or more banks on a Friday night. The departures through failure include Heritage Bank of North Florida, Orange Park, FL ($111 million); First Federal Bank, Lexington, KY ($100 million); and Chipola Community Bank, Marianna, FL ($39 million). The two failures in Florida bring that state's cumulative failure total to 68 since the on-set of the financial crisis, which only trails the 85 failures in Georgia. The 68 failures in Florida have cost the FDIC insurance fund an estimated $12.8 billion.

The two additions were Hometown Bank of The Hudson Valley, Walden, NY ($155 million Ticker: HTWC) and Advance Bank, Baltimore, MD ($61 million).

Next week, the FDIC should release its actions through March 2013.
CR Note: The first unofficial problem bank list was published in August 2009 with 389 institutions. The number of unofficial problem banks grew steadily and peaked at 1,002 institutions on June 10, 2011. The list has been declining since then.