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Saturday, August 16, 2014

Unofficial Problem Bank list declines to 447 Institutions

by Calculated Risk on 8/16/2014 08:11:00 AM

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

Here is the unofficial problem bank list for Aug 15, 2014.

Changes and comments from surferdude808:

As expected, the OCC provided an update on its enforcement action activities today, which contributed to several changes to the Unofficial Problem Bank List. In all, there were four removals and two additions that leave the list at 447 institutions with assets of $142.1 billion. A year ago, the list held 717 institutions with assets of $253.9 billion.

Actions were terminated against NorStates Bank, Waukegan, IL ($392 million Ticker: NSFC); First National Bank, Ronceverte, WV ($237 million Ticker: FBSW); Bank of Atlanta, Atlanta, GA ($198 million); Pickens Savings and Loan Association, FA, Pickens, SC ($94 million).

Added this week were First Federal Savings and Loan Association of Greensburg, Greensburg, IN ($158 million) and Quontic Bank, Astoria, NY ($126 million). The other notable change was the OCC issuing a Prompt Corrective Action order against The National Republic Bank of Chicago, Chicago, IL ($1.0 billion), which has been laboring under a formal enforcement action since 2010.

Next week will likely be quiet as we do not anticipate the FDIC providing an update until two weeks from now.
CR Note: The first unofficial problem bank list was published in August 2009 with 389 institutions. The list peaked at 1,002 institutions on June 10, 2011, and is now down to 447.