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Saturday, April 27, 2013

Unofficial Problem Bank list declines to 775 Institutions

by Calculated Risk on 4/27/2013 09:31:00 AM

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

Here is the unofficial problem bank list for Apr 26, 2013.

Changes and comments from surferdude808:

The FDIC, as anticipated, released its enforcement actions through March 2013 and closed a couple banks this week. This led to many changes to the Unofficial Problem Bank List, which had 12 removals and six additions. After changes, the list holds 775 institutions with assets of $285.3 billion. A year ago, the list held 930 institutions with assets of $361.7 billion.   
With it being the last Friday of the month, the list had a net decline of 16 institutions and $4.7 billion of assets this April. Notable this month were six removals because of failure as one has to go back to July 2012 to find six or more failures in a month. Also, as noted in the April 5th posting, the cumulative number of removals since the list was first published from action termination now total 356, which is only one shy of the 357 removals because of failure.

The removals from failure were Douglas County Bank, Douglasville, GA ($317 million) and Parkway Bank, Lenoir, NC ($109 million). Douglas County Bank is the 86th bank to fail in Georgia since 2008. The 86 failures in Georgia have cost the FDIC an estimated $11.5 billion.

Action terminations include Reliance Bank, Des Peres, MO ($914 million Ticker: RLBS); Mile High Banks, Longmont, CO ($822 million); Jefferson Bank and Trust Company, Eureka, MO ($504 million); International Bank, Raton, NM ($303 million); Huntington State Bank, Huntington, TX ($236 million); Century Bank of Kentucky, Inc., Lawrenceburg, KY ($108 million); First Bank of the Palm Beaches, West Palm Beach, FL ($90 million); First Bank, Wadley, AL ($73 million); and Mitchell Bank, Milwaukee, WI ($57 million). The FDIC also terminated a Prompt Corrective Action order against Mile High Banks.

The FDIC issued actions against State Bank of India (California), Los Angeles, CA ($787 million); Columbia Bank, Lake City, FL ($196 million); Hartford Savings Bank, Hartford, WI ($187 million); Peoples Bank, Clifton, TN ($131 million); and Mid America Bank, Janesville, WI ($114 million). The Federal Reserve issued a Written Agreement against Freedom Bank of Oklahoma, Tulsa, OK ($40 million). It has been some time since October 2012 when the Federal Reserve last issued a new Written Agreement against a state member bank.
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.