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Saturday, August 10, 2013

Unofficial Problem Bank list declines to 723 Institutions

by Calculated Risk on 8/10/2013 08:34:00 AM

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

Here is the unofficial problem bank list for August 9, 2013.

Changes and comments from surferdude808:

Not that many changes were made to the Unofficial Problem Bank List this week as anticipated. In all, there were three removals that lower the institution count to 723 with assets of $255.0 billion. Assets declined this week by $4.1 billion with $3.1 billion of the decline coming from updating assets through the second quarter. A year ago, the list held 900 institutions with assets of $348.6 billion.

Removals include the failed Bank of Wausau, Wausau, WI ($49 million). The Federal Reserve terminated the action against Belt Valley Bank, Belt, MT ($62 million) and The First National Bank of Shelby, Shelby, NC ($716 million) departed through an unassisted merger.

This week Capitol Bancorp, Ltd was in the news as they "lashed out at the FDIC" in an August 2nd filing with the bankruptcy court for not granting cross-guaranty waivers that supposedly prevented the sale of some units before they failed according to a report published by SNL Securities (A Capitol offense? BHC blasts FDIC for 'undermining' sale efforts, 'unnecessary' seizures). Perhaps the resolution of the remaining units is nearing an end.

Next week we anticipate the OCC will release its action through mid July 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.