by Calculated Risk on 11/23/2013 10:00:00 AM
Saturday, November 23, 2013
This is an unofficial list of Problem Banks compiled only from public sources.
Here is the unofficial problem bank list for November 22, 2013.
Changes and comments from surferdude808:
Another quiet week for the Unofficial Problem Bank List as there was only removal. The OCC terminated the action against Lafayette Savings Bank, FSB, Lafayette, IN ($355 million Ticker: LSBI). After removal, the list holds 654 institutions with assets of $222.8 billion. A year ago, the list held 857 institutions with assets of $329.2 billion. We thought the FDIC would release industry results and the Official Problem Bank List totals for the third quarter, but perhaps that will happen next week along with the FDIC's enforcement action activity through October.
According to SNL Securities, Capitol Bancorp was able to sell its controlling interest in Bank of Maumee, Maumee, OH ($28 million) to Princeton Capital LLC (Princeton Capital completes buy of majority stake in Bank of Maumee). The FDIC issued a cross-guaranty waiver/tolling agreement in 2011 to facilitate the transaction that was set to expire this past Tuesday, November 19, 2013. There are reports of potential buyers other than previously identified Talmer Bancorp, Inc. surfacing that are interested in acquiring some of the remaining banks controlled by Capitol Bancorp.
Posted by Calculated Risk on 11/23/2013 10:00:00 AM