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Saturday, January 18, 2014

Unofficial Problem Bank list declines to 605 Institutions

by Calculated Risk on 1/18/2014 01:16:00 PM

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

Here is the unofficial problem bank list for January 17, 2014.

Changes and comments from surferdude808:

The Unofficial Problem Bank List had many changes as the OCC released details of its latest enforcement action activity and the closing of a national bank. In all, there were eight removals leaving the list at 605 institutions with assets of $199.8 billion. Aggregate assets fell under $200 billion for the first time since May 2009. A year ago, there were 826 institutions with assets of $308.7 billion on the list.

During the week, every manner of exit possible was used as there were four action terminations, two voluntary liquidations, one merger, and one failure, which has not happened since almost a year ago during the week ending January 18, 2013. Actions were terminated against Community State Bank, National Association, Ankeny, IA ($560 million); Community Bank-Wheaton/Glen Ellyn, Glen Ellyn, IL ($351 million); The First National Bank of Winnsboro, Winnsboro, TX ($134 million); and The Headland National Bank, Headland, AL ($102 million). Prosperity Bank, Saint Augustine, FL ($748 million) found a merger partner in order to get itself off the list.

The two voluntary liquidations were Liberty Bank, F.S.B., West Des Moines, IA ($267 million) and Capmark Bank, Midvale, UT ($120 million). It has been more than six months since the last voluntary liquidation of a bank on the list. The OCC got the FDIC liquidation crew cranked up for the first time in 2014 by closing DuPage National Bank, West Chicago, IL ($62 million). This is the 57th institution headquartered in Illinois that has failed as a result of the Great Recession. With a count of 57, Illinois only trails Georgia and Florida with 87 and 70 failures, respectively.

We do not anticipate for the FDIC to release its enforcement action activity through December 2013 next week, rather they will likely release on Friday, January 31st. After the FDIC release, the institution count on the list should drop below 600.