Friday, October 26, 2018

October 2018: Unofficial Problem Bank list declines to 75 Institutions

by Bill McBride on 10/26/2018 04:57:00 PM

Note: Surferdude808 compiles an unofficial list of Problem Banks compiled only from public sources.

Here is the unofficial problem bank list for October 2018.

Here are the monthly changes and a few comments from surferdude808:

Update on the Unofficial Problem Bank List for October 2018. The list had a net decline of four insured institutions to 75 banks after six removals and two additions. Aggregate assets declined during the month by $772 million to $56.2 billion. A year ago, the list held 111 institutions with assets of $26.6 billion.

Actions were terminated against First Chatham Bank, Savannah, GA ($369 million); Bank of Eastman, Eastman, GA ($170 million); Pinnacle Bank, Orange City, FL ($89 million); and American Investors Bank and Mortgage, Eden Prairie, MN ($69 million). Removals through other ways include Sage Bank, Lowell, MA ($143 million) finding a merger partner and Merchants Bank of California, National Association, Carson, CA ($3 million) exiting through a voluntary liquidation.

Additions this month were AllNations Bank, Calumet, OK ($51 million) and Sainte Marie State Bank, Sainte Marie, IL ($20 million).

Lastly, we updated the name of Illinois-Service Federal Savings and Loan Association, Chicago, IL ($133 million) to GN Bank.