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Saturday, August 17, 2013

Unofficial Problem Bank list declines to 717 Institutions

by Calculated Risk on 8/17/2013 01:41:00 PM

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

Here is the unofficial problem bank list for August 16, 2013.

Changes and comments from surferdude808:

The OCC was busy this past month mostly terminating a number of enforcement actions. They were responsible for five of the seven terminations this week and the sole addition. After these changes, the Unofficial Problem Bank List holds 717 institutions with assets of $253.9 billion. A year ago, the list held 899 institutions with assets of $347.5 billion.

Actions were terminated against Citizens Union Bank of Shelbyville, Shelbyville, KY ($547 million); First Federal Savings and Loan Association of McMinnville, McMinnville, OR ($352 million); First National Bank of the Rockies, Grand Junction, CO ($318 million); Bank of Virginia, Midlothian, VA ($230 million Ticker: BOVA); Franklin Community Bank, National Association, Rocky Mount, VA ($179 million); The First National Bank of Polk County, Cedartown, GA ($156 million Ticker: SCSG); and Ripley Federal Savings Bank, Ripley, OH ($67 million).

The addition this week was Ponce de Leon Federal Bank, Bronx, NY ($760 million).

There is no news to pass along on Capitol Bancorp, Ltd. and the remaining banks they control. Next week the FDIC may release industry quarterly performance for the second quarter and the Official Problem Bank figures. At the first quarter release, the difference between the official and unofficial count was 149 but it has been narrowing after peaking at 185 a year ago. This quarter, it is estimated the difference has narrowed further to around 135. With there being two more Fridays in the month, it is likely the FDIC will wait until the second Friday to release their enforcement action activity through July 2013.
CR Note: The first unofficial problem bank list was published in August 2009 with 389 institutions. The list peaked at 1,002 institutions on June 10, 2011, and is now back down to 717.