Saturday, February 15, 2014

Unofficial Problem Bank list declines to 586 Institutions

by Calculated Risk on 2/15/2014 01:11:00 PM

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

Here is the unofficial problem bank list for February 14, 2014.

Changes and comments from surferdude808:

Some minor changes were made to the Unofficial Problem Bank List this week. Three removals and one addition leave the list at 586 institutions with assets of $194.9 billion. A year ago, the list held 812 institutions with assets of $303.0 billion.

Removed this week were Trans-Pacific National Bank, San Francisco, CA ($126 million); Conway Bank, National Association, Conway Springs, KS ($66 million); and First Security Bank of Malta, Malta, MT ($31 million). Conway Bank, N.A. had been under a formal action the longest of any banking as the OCC placed under a Formal Agreement in January 2005 that was subsequently replaced by a Consent Order in March 2011. There are five banks on the list that first became subject to a formal action in 2007.

The addition this week is Allied First Bank, SB, Oswego, IL ($121 million). Other changes to list were the termination of a Prompt Corrective Action order against Community Shores Bank, Muskegon, MI ($183 million).

Next Friday, the OCC should release its enforcement action activity through mid-January 2014. We may be able to update assets through year-end 2013. The FDIC will likely release industry results and update to the official list during the last full week of the month at the earliest.