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Saturday, August 23, 2014

Unofficial Problem Bank list declines to 445 Institutions

by Calculated Risk on 8/23/2014 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 22, 2014.

Changes and comments from surferdude808:

Quiet week as expected that is front of the FDIC providing an update on its enforcement action activity. This week there were two removals that lower the Unofficial Problem Bank List count to 445 with assets of $141.0 billion. We updated assets figures for q2 financials, so $833 million of the $1.0 billion decline in assets comes from the latest figures. A year ago, the list held 714 institutions with assets of $253.1 billion.

Two banks found their way off the list through merger with a healthier institution. First Bank of Miami, Coral Gables, FL ($193 million) merged with the Apollo Bank, Miami, FL. Flint River National Bank, Camilla, GA ($19 million) merged with Five Star Credit Union, Dothan, AL, with this being an infrequent type of merger with a credit union as the survivor.

Next week, we expect the FDIC to provide an update on its enforcement action activity on Friday and release q2 industry results including the official problem bank list numbers maybe earlier in the week.
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 445.