by Calculated Risk on 9/29/2019 08:19:00 AM

Note: Surferdude808 compiles an unofficial list of Problem Banks compiled only from public sources. DISCLAIMER: This is an unofficial list, the information is from public sources and while deemed to be reliable is not guaranteed. No warranty or representation, expressed or implied, is made as to the accuracy of the information contained herein and same is subject to errors and omissions. This is not intended as investment advice. Please contact CR with any errors.

Here is the unofficial problem bank list for September 2019.

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

Update on the Unofficial Problem Bank List for September 2019. During the month, the list decreased by two to 74 institutions after four removals and two additions. Assets increased by $1.1 billion to $55.7 billion. A year ago, the list held 79 institutions with assets of $56.9 billion.

This month, actions were terminated against Interamerican Bank, A FSB, Miami, FL ($200 million); First Covenant Bank, Commerce, GA ($136 million); Homestead Savings Bank, Albion, MI ($66 million); and The First National Bank of Lacon, Lacon, IL ($65 million). Added this month was Metropolitan Capital Bank & Trust, Chicago, IL ($230 million). We give thanks to a reader that identified that Carver Federal Savings Bank, New York, NY ($575 million) should be added to the list, which we did this month based on an action issued in May 2016.

With the conclusion of the third quarter, we bring an updated transition matrix to detail how banks are transitioning off the Unofficial Problem Bank List. Since the Unofficial Problem Bank List was first published on August 7, 2009 with 389 institutions, 1,753 institutions have appeared on a weekly or monthly list since the start of publication. Only 4.2 percent of the banks that have appeared on a list remain today as 1,679 institutions have transitioned through the list. Departure methods include 992 action terminations, 406 failures, 262 mergers, and 19 voluntary liquidations. Of the 389 institutions on the first published list, only 5 or 1.3 percent, are still designated as being in a troubled status more than ten years later. The 406 failures represent 23.2 percent of the 1,753 institutions that have made an appearance on the list. This failure rate is well above the 10-12 percent rate frequently cited in media reports on the failure rate of banks on the FDIC's official list.

Unofficial Problem Bank List
Change Summary
		Number of Institutions	Assets ($Thousands)
Start (8/7/2009)		389	276,313,429
Subtractions
	Action Terminated	180	(68,469,804)
	Unassisted Merger	41	(10,072,112)
	Voluntary Liquidation	5	(10,672,586)
	Failures	158	(186,397,337)
	Asset Change		511,796
Still on List at 9/30/2019		5	1,213,386
Additions after 8/7/2009		69	54,532,883
End (9/30/2019)		74	55,746,269
Intraperiod Removals1
	Action Terminated	812	326,376,223
	Unassisted Merger	221	82,691,403
	Voluntary Liquidation	14	2,558,186
	Failures	248	125,152,210
	Total	1,295	536,778,022
1Institution not on 8/7/2009 or 9/30/2019 list but appeared on a weekly list.