Showing posts with label FDIC. Show all posts
Showing posts with label FDIC. Show all posts

Friday, June 24, 2011

Bank Failure #48 in 2011: Mountain Heritage Bank, Clayton, Georgia

by Calculated Risk on 6/24/2011 05:38:00 PM

From the FDIC: First American Bank and Trust Company, Athens, Georgia, Assumes All of the Deposits of Mountain Heritage Bank, Clayton, Georgia

As of March 31, 2011, Mountain Heritage Bank had approximately $103.7 million in total assets and $89.6 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $41.1 million. ... Mountain Heritage Bank is the 48th FDIC-insured institution to fail in the nation this year, and the fourteenth in Georgia.
What a surprise ... a bank in Georgia fails. That is a pretty big percentage loss.

Friday, June 03, 2011

Bank Failure #45 in 2011: Atlantic Bank and Trust, Charleston, South Carolina

by Calculated Risk on 6/03/2011 07:15:00 PM

Atlantic Bank crash
Slamming into a debt wall
Oceanic fail.

by Soylent Green is People

From the FDIC: First Citizens Bank and Trust Company, Inc., Columbia, South Carolina, Assumes All of the Deposits of Atlantic Bank and Trust, Charleston, South Carolina
As of March 31, 2011, Atlantic Bank and Trust had approximately $208.2 million in total assets and $191.6 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $36.4 million. ... Atlantic Bank and Trust is the 45th FDIC-insured institution to fail in the nation this year, and the second in South Carolina.

Earlier employment posts (with graphs):
May Employment Report: 54,000 Jobs, 9.1% Unemployment Rate
Employment Summary, Part Time Workers, and Unemployed over 26 Weeks
Birth/Death Model and Unemployment by Duration and Education
Employment graph gallery

Saturday, May 28, 2011

Unofficial Problem Bank list increases to 997 Institutions

by Calculated Risk on 5/28/2011 02:54:00 PM

Earlier ...
Summary for Week Ending May 27th

Note: this is an unofficial list of Problem Banks compiled only from public sources.

Here is the unofficial problem bank list for May 27, 2011.

Changes and comments from surferdude808:

Activities of the FDIC contributed to many changes to the Unofficial Problem Bank List this week as they closed a bank and released their enforcement actions through April 2011. In all, there were 12 additions and three removals, which leaves the list at 997 institutions with assets of $415.4 billion compared with 988 institutions and assets of $423.9 billion last week.

Asset figures were updated from 2010q4 to 2011q1, which caused aggregate assets to drop by $9.8 billion. The net of additions and removals this week caused assets to rise $1.4 billion.

The removals include the failed First Heritage Bank, Snohomish, WA ($173 million) and action terminations against CB&S Bank, Inc., Russellville, AL ($1.3 billion); and Alliance Banking Company, Winchester, KY ($60 million).

Among the 12 additions are Four Oaks Bank & Trust Company, Four Oaks, NC ($961 million); Frontier State Bank, Oklahoma City, OK ($517 million); Security First Bank, Fresno, CA ($114 million Ticker: SFRK); and Central Florida State Bank, Belleview, FL ($85 million Ticker: CEFB).

Other changes include Prompt Corrective Actions order issued by the FDIC against Community South Bank, Parsons, TN ($658 million); First International Bank, Plano, TX ($321 million); and Community Bank of Central Wisconsin, Colby, WI ($104 million).
CR Note: The FDIC Q1 Quarterly Bank Profile showed 888 problem institutions on the official problem bank list. The FDIC's official problem bank list is comprised of banks with a CAMELS rating of 4 or 5, and the list is not made public (just the number of banks and assets every quarter). Note: Bank CAMELS ratings are also not made public.

CAMELS is the FDIC rating system, and stands for Capital adequacy, Asset quality, Management, Earnings, Liquidity and Sensitivity to market risk. The scale is from 1 to 5, with 1 being the strongest.

As a substitute for the CAMELS ratings, surferdude808 is using publicly announced formal enforcement actions, and also media reports and company announcements that suggest to us an enforcement action is likely, to compile a list of possible problem banks in the public interest. In general the unofficial list has tracked the official list, although currently there more institutions on the unofficial list.

Friday, May 27, 2011

Bank Failure #44 in 2011: First Heritage Bank, Snohomish, Washington

by Calculated Risk on 5/27/2011 10:34:00 PM

From the FDIC: Columbia State Bank, Tacoma, Washington, Assumes All of the Deposits of First Heritage Bank, Snohomish, Washington

As of March 31, 2011, First Heritage Bank had approximately $173.5 million in total assets and $163.3 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $34.9 million. ... First Heritage Bank is the 44th FDIC-insured institution to fail in the nation this year, and the second in Washington.
Friday arrives late ...

Sunday, May 22, 2011

Unofficial Problem Bank list increases to 988 Institutions

by Calculated Risk on 5/22/2011 08:11:00 AM

Note: this is an unofficial list of Problem Banks compiled only from public sources.

Here is the unofficial problem bank list for May 20, 2011.

Changes and comments from surferdude808:

There were many changes to Unofficial Problem Bank List because of failure and the OCC releasing its actions through mid-April 2011. In all, there were 12 additions and seven removals, which leaves the list at 988 institutions with assets of $423.9 billion. Last week, the list had 983 institutions with assets of $425.4 billion.

The removals include the three failures this week -- Atlantic Southern Bank, Macon, GA ($781 million Ticker: ASFNE); First Georgia Banking Company, Franklin, GA ($780 million); and Summit Bank, Burlington, WA ($147 million). Actions were terminated against Central Pacific Bank, Honolulu, HI ($3.9 billion Ticker: CPF); CenTrust Bank, National Association, Northbrook, IL ($103 million); and The First National Bank of Farragut, Shenandoah, IA ($35 million). The other removal is Union National Community Bank, Lancaster, PA ($446 million), which merged on an unassisted basis with Union Community Bank FSB, Lancaster, PA.

Among the 12 additions are Old Second National Bank, Aurora, IL ($2.1 billion Ticker: OSBC); Great Lakes Bank, National Association, Blue Island, IL ($642 million Ticker: GLFL); and SCB Bank, Shelbyville, IN ($256 million Ticker: BRBI). Also, the OCC issues a Consent Order against Southwestern National Bank, Houston, TX ($319 million), which was removed prematurely two weeks ago when the OCC terminated the Formal Agreement against the bank.

Next week, the FDIC should release its actions through April 2011. Given that the list stands at 988 institutions, there is an outside chance the could go over 1,000 institutions next week.
Yesterday ...
Summary for Week Ending May 20th
Schedule for Week of May 22nd

Friday, May 20, 2011

Bank Failure #43: Summit Bank, Burlington, Washington

by Calculated Risk on 5/20/2011 09:11:00 PM

A graceless collapse
From apogee to abyss
Thy name is Summit

by Soylent Green is People

From the FDIC: Columbia State Bank, Tacoma, Washington, Assumes All of the Deposits of Summit Bank, Burlington, Washington
As of March 31, 2011, Summit Bank had approximately $142.7 million in total assets and $131.6 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $15.7 million. ... Summit Bank is the 43rd FDIC-insured institution to fail in the nation this year, and the first in Washington.
That makes 3 today ...

Bank Failures #41 & 42 in 2011: Two more in Georgia

by Calculated Risk on 5/20/2011 05:45:00 PM

Antebellum banks
Hives of scum and villainy
We must be cautious.

by Soylent Green is People

From the FDIC: CertusBank, National Association, Easley, South Carolina, Acquires All the Deposits of Two Georgia Institutions
As of March 31, 2011, Atlantic Southern Bank had total assets of $741.9 million and total deposits of $707.6 million; and First Georgia Banking Company had total assets of $731.0 million and total deposits of $702.2 million. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for Atlantic Southern Bank will be $273.5 million and for First Georgia Banking Company, $156.5 million. ... The closings are the 41st and 42nd FDIC-insured institutions to fail in the nation so far this year and the eleventh and twelfth in Georgia.
Georgia again?

Friday, April 29, 2011

Bank Failures #35 through #39 in 2011

by Calculated Risk on 4/29/2011 07:20:00 PM

Shotgun's signal sounds
Five finance fatalities
Bereaving bankers.

by Soylent Green is People

From the FDIC: Premier American Bank, National Association, Miami, Florida, Acquires All the Deposits of Two Florida Banks, First National Bank of Central Florida, Winter Park and Cortez Community Bank, Brooksville
As of December 31, 2010, First National Bank of Central Florida had total assets of $352.0 million and total deposits of $312.1 million; and Cortez Community Bank had total assets of $70.9 million and total deposits of $61.4 million. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for First National Bank of Central Florida will be $42.9 million; and for Cortez Community Bank, $18.6 million. ... The closings are the 35th and 36th FDIC-insured institutions to fail in the nation so far this year
From the FDIC: Bank of the Ozarks, Little Rock, Arkansas, Acquires All the Deposits of Two Georgia Banks, First Choice Community Bank, Dallas and The Park Avenue Bank, Valdosta
As of December 31, 2010, First Choice Community Bank had total assets of $308.5 million and total deposits of $310.0 million; and The Park Avenue Bank had total assets of $953.3 million and total deposits of $827.7 million. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for First Choice Community Bank will be $92.4 million; and for The Park Avenue Bank, $306.1 million. ... The closings are the 37th and 38th FDIC-insured institutions to fail in the nation so far this year
From the FDIC: Talmer Bank & Trust, Troy, Michigan, Assumes All of the Deposits of Community Central Bank, Mount Clemens, Michigan
As of December 31, 2010, Community Central Bank had approximately $476.3 million in total assets and $385.4 million in total deposits ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $183.2 million. ... Community Central Bank is the 39th FDIC-insured institution to fail in the nation this year

Saturday, April 16, 2011

Unofficial Problem Bank list at 978 Institutions

by Calculated Risk on 4/16/2011 08:29:00 AM

Note: this is an unofficial list of Problem Banks compiled only from public sources.

Here is the unofficial problem bank list for Apr 15, 2011.

Changes and comments from surferdude808:

The FDIC remembered how to close banks by shuttering six this Friday and the OCC released its enforcement actions through mid-March 2011, which contributed to many changes to the Unofficial Problem Bank List.

In all, there were 13 removals and nine additions that leave the Unofficial Problem Bank List with 978 institutions and assets of $429.4 billion this week, compared to 982 institutions and assets of $433.2 billion last week.

Only five of the six failures were on the list and it is interesting how three years into the current crisis institutions are failing wherein a formal enforcement action may not be found in the public domain. The removals because of failure include Superior Bank, Birmingham, AL ($3.0 billion Ticker: SUPR); Nexity Bank, Birmingham, AL ($794 million Ticker: NXTYQ); Bartow County Bank, Cartersville, GA ($330 million); Heritage Banking Group, Carthage, MS ($226 million); and Rosemount National Bank, Rosemount, MN ($38 million). The two failures in Georgia push total failures in that state to 59, which have an estimated resolution cost of $8.3 billion. Perhaps if the FDIC Atlanta Region was more diligent in its supervision of the out-sized construction lending exposures during the boom the number and cost of these failures in Georgia could have been lower.

The other eight removals resulted from action terminations or unassisted mergers. Actions were terminated against First National Bank of Platteville, Platteville, WI ($127 million); and Congaree State Bank, West Columbia, SC ($121 million). The following were removed because of unassisted mergers: Maryland Bank and Trust Company, National Association, Lexington Park, MD ($348 million); and First National Bankers Bank, Alabama, Homewood, AL ($224 million). Premier Financial Bancorp, Inc. merged two of its subsidiaries on the list, Adams National Bank, Washington, DC. ($284 million) and Consolidated Bank and Trust Company, Richmond, VA, (77 million) into the newly named Premier Bank, Inc. Also, the multi-bank holding company Metropolitan Bank Group, Inc., which has seven subsidiaries on the list, merged two subsidiaries -- The First Commercial Bank, Chicago, IL ($269 million) and Edens Bank, Wilmette, IL ($249 million) – into North Community Bank, Chicago, IL ($499 million).

Among the nine new additions are Suburban Bank & Trust Company, Elmhurst, IL ($623 million); The Kishacoquillas Valley National Bank of Belleville, Belleville, PA ($554 million Ticker: KISB); The First National Bank of Polk County, Cedartown, GA ($163 million Ticker: SCSG); and Chino Commercial Bank, N.A., Chino, CA ($114 million Ticker: CCBC). The other notable change this week is a Prompt Corrective Action order issued by the Federal Reserve against First Chicago Bank & Trust, Chicago, IL ($1.0 billion).

Friday, April 15, 2011

Bank Failure #34: Heritage Banking Group, Carthage, Mississippi

by Calculated Risk on 4/15/2011 07:36:00 PM

Fresh Bayou bailout
Mississippi burning cash
Delta blues for bank.

by Soylent Green is People


Heritage Banking Group, Carthage, Mississippi
As of December 31, 2010, Heritage Banking Group had approximately $224.0 million in total assets and $196.2 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $49.1 million. ... Heritage Banking Group is the 34th FDIC-insured institution to fail in the nation this year, and the first in Mississippi.
That makes six today ...

Bank Failures #29 through #33 in 2011

by Calculated Risk on 4/15/2011 06:16:00 PM

Amazing Georgia
Hot money banks drop like flies
All pits and no peach.


Doom broom sweeps Eastward.
Two South and one North bank fails
West crest approaching?

by Soylent Green is People

Bartow County Bank, Cartersville, Georgia
As of December 31, 2010, Bartow County Bank had approximately $330.2 million in total assets and $304.1 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $69.5 million. ... Bartow County Bank is the 29th FDIC-insured institution to fail in the nation this year, and the seventh in Georgia.
New Horizons Bank, East Ellijay, Georgia
As of December 31, 2010, New Horizons Bank had approximately $110.7 million in total assets and $106.1 million in total deposits ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $30.9 million. ... New Horizons Bank is the 30th FDIC-insured institution to fail in the nation this year, and the eighth in Georgia.
Nexity Bank, Birmingham, Alabama
As of December 31, 2010, Nexity Bank had approximately $793.7 million in total assets and $637.8 million in total deposits ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $175.4 million. ... Nexity Bank is the 31st FDIC-insured institution to fail in the nation this year, and the first in Alabama.
Superior Bank, Birmingham, Alabama
As of December 31, 2010, Superior Bank had approximately $3.0 billion in total assets and $2.7 billion in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $259.6 million. ... Superior Bank is the 32nd FDIC-insured institution to fail in the nation this year, and the second in Alabama.
Rosemount National Bank, Rosemount, Minnesota
As of December 31, 2010, Rosemount National Bank had approximately $37.6 million in total assets and $36.6 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $3.6 million. ... Rosemount National Bank is the 33rd FDIC-insured institution to fail in the nation this year, and the first in Minnesota.
Superior was a pretty big bank ...

Saturday, April 09, 2011

Unofficial Problem Bank list at 982 Institutions

by Calculated Risk on 4/09/2011 08:32:00 AM

Note: this is an unofficial list of Problem Banks compiled only from public sources.

Here is the unofficial problem bank list for Apr 8, 2011.

Changes and comments from surferdude808:

After a quiet week last week, activity picked-up on the Unofficial Problem Bank List as there were five removals and two additions. The changes results in the list having 982 institutions with assets of $433.2 billion compared with last week's total of 985 institutions and assets of $431.1 billion.

The five removals include two failures -- Western Springs National Bank and Trust, Western Springs, IL ($187 million); and Nevada Commerce Bank, Las Vegas, NV ($145 million); two action terminations -- Tradition Bank - Bellaire, Houston, TX ($422 million); and Community Bank of Manatee, Lakewood, FL ($276 million); and one unassisted merger -- Athol-Clinton Co-operative Bank, Athol, MA ($85 million).

The additions were Parkway Bank and Trust Company, Harwood Heights, IL ($2.6 billion); and Mercantile Bank, Quincy, IL ($684 million Ticker: MBR). Mercantile Bank is part of Mercantile Bancorp, Inc., a multi-bank holding company that also has subsidiaries in Florida (The Royal Palm Bank of Florida) and Kansas (Heartland Bank), which are on the Unofficial Problem Bank List as well. We send out props to the Illinois State Banking Department for their transparency as they are the only state banking department that publishes its formal safety & soundness enforcement actions.

Note: A shutdown of the federal government would not interrupt FDIC closing activities as the agency's funding is not appropriated through the budget process. Rather, the FDIC receives its funding from assessments charged to the banking industry. In short, the FDIC would only use taxpayer monies if it had to borrow on its line from the Treasury. Despite having a negative insurance fund, the FDIC has avoided using the borrowing line as they pre-charged the industry an assessment and they have used loss-sharing arrangements in most resolutions, which lessen the cash outlay at the time of failure. While the FDIC is not appropriated by Congress, its insurance fund is included in the federal budget totals. This was an accounting gimmick started in the Johnson Administration used to lower the deficit as the fund normally has a positive balance. Under the pay-go rules of the 1990s, the FDIC's budget came under scrutiny as a reduction in the insurance fund would have added to the federal deficit.

Friday, April 08, 2011

Bank Failure #28: Nevada Commerce Bank, Las Vegas, NV

by Calculated Risk on 4/08/2011 08:38:00 PM

An apéritif
Sloshes down the bankers maw
Eager to consume

by Soylent Green is People

From the FDIC: City National Bank, Los Angeles, California, Assumes All of the Deposits of Nevada Commerce Bank, Las Vegas, Nevada
As of December 31, 2010, Nevada Commerce Bank had approximately $144.9 million in total assets and $136.4 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $31.9 million. .... Nevada Commerce Bank is the 28th FDIC-insured institution to fail in the nation this year, and the first in Nevada.

Bank Failure #27 in 2011: Western Springs National Bank and Trust, Western Springs, Illinois

by Calculated Risk on 4/08/2011 07:46:00 PM

Government meltclose.
The Patricians gnash and wail
Plebeians rejoice.

by Soylent Green is People

From the FDIC: Heartland Bank and Trust Company, Bloomington, Illinois, Assumes All of the Deposits of Western Springs National Bank and Trust, Western Springs, Illinois
As of December 31, 2010, Western Springs National Bank and Trust had approximately $186.8 million in total assets and $181.9 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $31.0 million. ... Western Springs National Bank and Trust is the 27th FDIC-insured institution to fail in the nation this year, and the fourth in Illinois.
If the FDIC agents work on the weekend, will they get paid? Just wondering ...

Saturday, March 26, 2011

Unofficial Problem Bank list increases to 985 Institutions

by Calculated Risk on 3/26/2011 08:15:00 AM

Note: this is an unofficial list of Problem Banks compiled only from public sources.

Here is the unofficial problem bank list for Mar 25, 2011.

Changes and comments from surferdude808:

The Unofficial Problem Bank List continued to climb as the FDIC released its actions for February 2011. This week, there were eight additions and five removals, which leaves the list with 985 institutions with assets of $431.1 billion.

The removals include the failed The Bank of Commerce, Wood Dale, IL ($163 million); one action termination against First Bank, Williamstown, NJ ($212 million); and three sales to private investors by West Michigan Community Bank, Hudsonville, MI ($123 million); Treaty Oak Bank, Austin, TX ($110 million Ticker: TOAK); and Community State Bank, Austin, TX ($21 million).

Among the eight additions are Plumas Bank, Quincy, CA ($483 million Ticker: PLBC); Country Bank, Aledo, IL ($213 million); and First Financial Bank, Bessemer, AL ($205 million).

Other changes include the issuance of seven and termination of one Prompt Corrective Order. The FDIC terminated the PCA order against Seattle Bank, Seattle, WA and issued orders against The Village Bank, Saint George, UT ($209 million); First Heritage Bank, Snohomish, WA ($179 million); Summit Bank, Prescott, AZ ($81 million); and four subsidiaries of Capitol Bancorp (Ticker: CBCR): Michigan Commerce Bank, Ann Arbor, MI ($934 million); Bank of Las Vegas, Las Vegas, NV ($375 million); Sunrise Bank of Arizona, Phoenix, AZ ($353 million); and Central Arizona Bank, Casa Grande, AZ ($76 million). (Edited by CR: see here for correction on Capitol Bancorp)

With the passage of another quarter, it is time to update the transition matrix. The Unofficial Problem Bank List debuted on August 7, 2009 with 389 institutions with assets of $276.3 billion (see table). Over the past 19 months, 176 institutions have been removed from the original list with 120 due to failure, 40 due to action termination, and 16 due to unassisted merger. Almost 31 percent of the 389 institutions on the original list have failed, which is substantially higher than the 12 percent figure usually cited by the media as the failure rate for institutions on the FDIC Problem Bank List. Failed bank assets have totaled $166.6 billion or 60 percent of the $276.3 billion on the original list.

Since the publication of the original list, another 940 institutions have been added. However, only 772 of those 940 additions remain on the current list as 168 institutions have been removed in the interim. Of the 168 interim removals, 119 were due to failure, 32 were due to unassisted merger, 15 from action termination, and two from voluntary liquidation. In total, 1,329 institutions have made an appearance on the Unofficial Problem Bank List and 239 or 18.0 percent have failed. Of the 344 total removals, failure is the primary form of exit (239 or 69.5 percent) while only 55 or 16.0 percent have been rehabilitated. The average asset size of removals because of failure is $1.04 billion. Currently, the average asset size of institutions on the current list is $438 million versus $710 million on the original list.
Unofficial Problem Bank List
Change Summary
 Number of InstitutionsAssets ($Thousands)
Start (8/7/2009)389 276,313,429
 
Subtractions 
 Action Terminated40(5,853,210)
Unassisted Merger16(2,478,895)
Voluntary Liquidation0-
Failures120(166,633,042)
Asset Change (16,154,143)
 
Still on List at 3/25/201121385,194,139
 
Additions772345,874,340
 
End (3/25/2011)985431,068,479
 
Interperiod Deletions1  
 Action Terminated1515,245,458
Unassisted Merger3226,763,786
Voluntary Liquidation2833,567
Failures11981,716,210
Total168124,559,021
1Institution not on 8/7/2009 or 3/25/2011 list but appeared on a list between these dates.

Friday, March 25, 2011

Bank Failure #26 in 2011: The Bank of Commerce, Wood Dale, Illinois

by Calculated Risk on 3/25/2011 07:07:00 PM

Irresponsible:
Behavior resulting in
No consequences.

by Soylent Green is People

From the FDIC: Advantage National Bank Group, Elk Grove Village, Illinois, Assumes All of the Deposits of The Bank of Commerce, Wood Dale, Illinois
As of December 31, 2010, The Bank of Commerce had approximately $163.1 million in total assets and $161.4 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $41.9 million. ... The Bank of Commerce is the 26th FDIC-insured institution to fail in the nation this year, and the third in Illinois
Friday is here.

Saturday, March 19, 2011

Unofficial Problem Bank list increases to 982 Institutions

by Calculated Risk on 3/19/2011 08:15:00 AM

Note: this is an unofficial list of Problem Banks compiled only from public sources.

Here is the unofficial problem bank list for Mar 18, 2011.

Changes and comments from surferdude808:

The Unofficial Problem Bank List surged to its highest ever institution count and asset level this week. Contributing factors were the release of actions through mid-February 2011 by the OCC and a deeper dive into the databases of the regulatory agencies. The scrubbing of databases found 12 institutions not previously identified. In all, there were 21 additions and three removals this week, which leaves the Unofficial Problem Bank List at 982 institutions with assets of $430.4 billion, up from 964 institutions with assets of $420.7 billion last week. The previous asset high was $422.4 billion at September 24, 2010.

The three removals were action terminations against Community National Bank, Waterloo, IA ($207 million); Lakewood Bank, National Association, Baxter, MN ($142 million); and Delanco Federal Savings Bank, Delanco, NJ ($136 million Ticker: DLNO).

The 21 new additions brought $10.1 billion of assets to the list. Notable additions include First National Bank, Edinburg, TX ($3.8 billion); Reliance Bank, Des Peres, MO ($1.2 billion Ticker: RLBS); The National Bank, Moline, IL ($1.2 billion); Community South Bank, Parsons, TN ($675 million); Home State Bank, National Association, Crystal Lake, Il ($666 million); South County Bank, National Association, Rancho Santa Margarita, CA ($179 million Ticker: CALW); SouthFirst Bank, Sylacauga, AL ($131 million Ticker: SZBI); and First Carolina State Bank, Rocky Mount, NC ($103 million Ticker: CBCR).

Next week, we anticipate the FDIC will release its actions for February 2011. Given the low cure rate and the slowdown in closing institutions by the FDIC, there is an outside chance for the Unofficial Problem Bank List to reach the 1,000 threshold next week. If not by next week, then the list should be at the 1,000 level by the end of April 2011.
The list keeps growing and growing ...

Saturday, March 12, 2011

Unofficial Problem Bank list increases to 964 Institutions

by Calculated Risk on 3/12/2011 08:36:00 AM

Note: this is an unofficial list of Problem Banks compiled only from public sources.

Here is the unofficial problem bank list for Mar 11, 2011.

Changes and comments from surferdude808:

The week included failures and new additions to the Unofficial Problem Bank List. In all, there were two removals and four additions.

The List has 964 institutions with assets of $420.7 billion, which represents the second highest asset level since the List has been published. So far, the peak in assets occurred on September 24, 2010 at $422.4 billion.

The removals only include one of the failures this week -- Legacy Bank, Milwaukee, WI ($190 million); and an action termination -- Eastern Federal Bank, Norwich, CT ($166 million).

The additions were First American Bank, Fort Dodge, IA ($1.5 billion); Florida Bank, Tampa, FL ($840 million); Greer State Bank, Greer, SC ($456 million Ticker: GRBS); and Frontier Bank, FSB, Palm Desert, CA ($313 million). Next week, we anticipate the OCC will release its actions through mid-February 2011, so the List will likely continue its climb to 1,000 institutions.

Friday, March 11, 2011

Bank Failure #24 in 2011: The First National Bank of Davis, Davis, Oklahoma

by Calculated Risk on 3/11/2011 06:59:00 PM

From the FDIC: The Pauls Valley National Bank, Pauls Valley, Oklahoma, Assumes All of the Deposits of The First National Bank of Davis, Davis, Oklahoma

As of December 31, 2010, The First National Bank of Davis had approximately $90.2 million in total assets and $68.3 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $26.5 million. ... The First National Bank of Davis is the 24th FDIC-insured institution to fail in the nation this year, and the second in Oklahoma.
The FDIC is back at work.

Update: And #25 ...

From the FDIC: Seaway Bank and Trust Company, Chicago, Illinois Assumes All of the Deposits of Legacy Bank, Milwaukee, Wisconsin
As of December 31, 2010, Legacy Bank had approximately $190.4 million in total assets and $183.3 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $43.5 million. ... Legacy Bank is the 25th FDIC-insured institution to fail in the nation this year, and the third in Wisconsin.

Saturday, March 05, 2011

Unofficial Problem Bank list increases to 962 Institutions

by Calculated Risk on 3/05/2011 09:08:00 AM

Note: this is an unofficial list of Problem Banks compiled only from public sources.

Here is the unofficial problem bank list for Mar 4, 2011.

Changes and comments from surferdude808:

It almost was a safe & sound banking week as the FDIC did not close a single institution; however, the OTS did not stop issuing enforcement actions.

This week there were one removal and three additions to the Unofficial Problem Bank List. The List now stands at 962 institutions with assets of $417.9 billion, up from 960 institutions and assets of $413.8 billion last week.

The one removal was a terminated action against The Felton Bank, Felton, DE ($81 million Ticker: SHBI), which merged without assistance into CNB, Centerville, MD.

The three additions were First Place Bank, Warren, OH ($3.2 billion Ticker: FPFC); Continental Bank, Plymouth Meeting, PA ($515 million); and First Community Bank of America, Pinellas Park, FL ($471 million Ticker: FCFL). Perhaps during the coming week there will not be a failure nor a new addition.