Saturday, November 30, 2013

Unofficial Problem Bank list declines to 645 Institutions

by Calculated Risk on 11/30/2013 09:20:00 AM

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

Here is the unofficial problem bank list for November 29, 2013.

Changes and comments from surferdude808:

The FDIC released details of its enforcement action activity through October 2013. For the week, there were nine removals that lower the Unofficial Problem Bank List to 645 with assets of $221.2 billion. At the end of November last year, the list held 856 institutions with assets of $326.4 billion. For the month, the list declined from 670 to 645 after one failure, six unassisted mergers, and 18 action terminations. It was the first month that an institution was not added to the list since its first publication in August 2009.

FDIC terminated actions against First State Financial, Inc., Pineville, KY ($363 million); EvaBank, Eva, AL ($321 million); First Bank, Clewiston, FL ($243 million); Commerce Bank, Geneva, MN ($155 million); Farmers Exchange Bank, Louisville, AL ($135 million); American Heartland Bank and Trust, Sugar Grove, IL ($110 million); Security First Bank, Fresno, CA ($98 million Ticker: SFRK); and Integrity First Bank, Wausau, WI ($78 million). The other removal was The Wilton Bank, Wilton, CT ($75 million Ticker: WIBW), which found a merger partner.

Earlier in the week, the FDIC released third quarter industry results including figures of 515 institutions with assets of $174 billion on the Official Problem Bank List. The difference between the official and unofficial lists narrowed to 130 institutions and $47.2 billion of assets from 148 institutions and $58.6 billion of assets last quarter. For five quarters during 2009 and 2010, the official list had a higher count and more assets but subsequently the official list has declined at a faster pace. We anticipated the institution count difference could narrow to around 120. Still, the narrowing by 18 was the second most since the first quarter of 2013.