by Calculated Risk on 4/26/2014 07:53:00 AM

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

Here is the unofficial problem bank list for April 25, 2014.

Changes and comments from surferdude808:

Today, the FDIC released an update on its enforcement action activities through March 2013 that contributed to many changes to the Unofficial Problem Bank List. For the week, there were nine removals and one addition that leave the list at 513 institutions with assets of $167.3 billion. A year ago, the list held 775 institutions with assets of $285.3 billion. During the month, the list declined from 538 to 513 institutions after 21 action terminations, five mergers, one failure, and two additions. Assets fell by $7.0 billion this month.

Actions were terminated against Finance Factors, Ltd., Honolulu, HI ($482 million); Oxford Bank & Trust, Oak Brook, IL ($446 million); Mohave State Bank Lake, Havasu City, AZ ($288 million Ticker: SBAZ); Mariners Bank, Edgewater, NJ ($249 million); Coast National Bank, San Luis Obispo, CA ($120 million Ticker: CTBP); State Central Bank, Bonaparte, IA ($71 million); The Home Building and Loan Company, Greenfield, OH ($38 million); and The First State Bank, Ryan, OK ($29 million).

Allendale County Bank, Fairfax, SC ($55 million) left the list by being the sixth failure of the year. With an initial loss estimate of 31.4 percent of assets, this is the most costly failure this year when measured as a share of assets. Since the on-set of the Great Recession, there have been 10 failures in South Carolina, which ranks 13th highest across all states. Moreover, failures in the FDIC Southeast's office based in Atlanta now total 187 across seven states with a loss estimate of $31.8 billion or nearly 29 percent of failed bank assets. Guess the high number of costly failures is what happens when warnings about the developing real estate bubble went unheeded. Many of us are waiting for the FDIC to publish a comprehensive post-mortem analysis on the regulatory failures of the last decade similar to what they published after the 1980s (see History of the 80s). Instead all they chose to publish is research on the state of community banking.

Added this week was New Jersey Community Bank, Freehold, NJ ($144 million). Also, the FDIC issued a Prompt Corrective Action order against Columbia Savings Bank, Cincinnati, OH ($38 million), which has been operating under a Cease & Desist order since February 2011.