RSS Feed by Calculated Risk on 12/18/2009 09:30:00 PM
Friday, December 18, 2009
Unofficial Problem Bank List increases to 551
This is an unofficial list of Problem Banks compiled only from public sources.
NOTE: This was compiled prior to the bank failures today.
Changes and comments from surferdude808:
The OCC released its actions for November, which contributed to an increase in the number of institutions and aggregate assets on the Unofficial Problem Bank List. The list includes 551 institutions with aggregate assets of $305 billion, up from 539 institutions with assets of $298 billion last week.The list is compiled from regulator press releases or from public news sources (see Enforcement Action Type link for source). The FDIC data is released monthly with a delay, and the Fed and OTC data is more timely. The OCC data is a little lagged. Credit: surferdude808.
Removals this week include the three failures Friday – SolutionsBank ($511 million), Republic Federal Bank National Association ($433 million), and Valley Capital Bank, National Association ($40 million).
This week, 15 institutions with total assets of $8.1 billion were added to Unofficial Problem Bank List. Large additions include Riverside National Bank of Florida, Fort Pierce, FL ($3.5 billion); First Community Bank, National Association, Sugar Land, TX ($855 million); Beach First National Bank, Myrtle Beach, SC ($646 million); and First Bank Richmond, National Association, Richmond, IN ($637 million).
Two weeks ago, we removed Riverside National Bank, First National Bank of the Rockies, and First National Bank of Griffin and, last week, we removed Beach First National Bank, when the OCC terminated their Formal Agreements. As mentioned then, the OCC may replace the terminated Formal Agreement with another action; hence, this week these four banks come back on the list as they are now under a Consent Agreement.
Note: The FDIC announced there were 552 bank on the official Problem Bank list at the end of Q3. The difference is a mostly a matter of timing - some enforcement actions haven't been announced yet, and others may be pending.
See description below table for Class and Cert (and a link to FDIC ID system).
For a full screen version of the table click here.
The table is wide - use scroll bars to see all information!
NOTE: Columns are sortable - click on column header (Assets, State, Bank Name, Date, etc.)
Class: from FDIC
The FDIC assigns classification codes indicating an institution's charter type (commercial bank, savings bank, or savings association), its chartering agent (state or federal government), its Federal Reserve membership status (member or nonmember), and its primary federal regulator (state-chartered institutions are subject to both federal and state supervision). These codes are:Cert: This is the certificate number assigned by the FDIC used to identify institutions and for the issuance of insurance certificates. Click on the number and the Institution Directory (ID) system "will provide the last demographic and financial data filed by the selected institution".N National chartered commercial bank supervised by the Office of the Comptroller of the Currency SM State charter Fed member commercial bank supervised by the Federal Reserve NM State charter Fed nonmember commercial bank supervised by the FDIC SA State or federal charter savings association supervised by the Office of Thrift Supervision SB State charter savings bank supervised by the FDIC
Bank Failure #140: First Federal Bank of California, Santa Monica, California
by Calculated Risk on 12/18/2009 08:04:00 PM
Sun sets on First Federal
Death by Option ARMs
by Soylent Green is People
From the FDIC: OneWest Bank, FSB, Pasadena, California, Assumes All of the Deposits of First Federal Bank of California, Santa Monica, California
First Federal Bank of California, a Federal Savings Bank, Santa Monica, California, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver....That makes seven today ...
As of September 30, 2009, First Federal Bank of California had approximately $6.1 billion in total assets and $4.5 billion in total deposits. ...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $146.3 million. ... First Federal Bank of California is the 140th FDIC-insured institution to fail in the nation this year, and the seventeenth in California. The last FDIC-insured institution to be closed in the state was Imperial Capital Bank, La Jolla, earlier today.
Bank Failure #139: Imperial Capital Bank, La Jolla, California
by Calculated Risk on 12/18/2009 07:46:00 PM
Imperial imperiled
Taxpayers rescue
by Soylent Green is People
From the FDIC: City National Bank, Los Angeles, California, Assumes All of the Deposits of Imperial Capital Bank, La Jolla, California
Imperial Capital Bank, La Jolla, California, was closed today by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ...
As of September 30, 2009, Imperial Capital Bank had approximately $4.0 billion in total assets and $2.8 billion in total deposits. ...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $619.2 million. .... Imperial Capital Bank is the 139th FDIC-insured institution to fail in the nation this year, and the sixteenth in California. The last FDIC-insured institution closed in the state was Pacific Coast National Bank, San Clemente, on November 13, 2009.
Bank Failures #135 to 138: Four More
by Calculated Risk on 12/18/2009 06:29:00 PM
New South Federal Savings
One Forty Is Near
An Oxymoron
Independent Bankers Bank
Not since Five today.
by Soylent Green is People
From the FDIC: Hancock Bank, Gulfport, Mississippi, Assumes All of the Deposits of Peoples First Community Bank, Panama City, Florida
Peoples First Community Bank, Panama City, Florida, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver....From the FDIC: FDIC Creates a Deposit Insurance National Bank to Facilitate the Resolution of Citizens State Bank, New Baltimore, Michigan
As of September 30, 2009, Peoples First Community Bank had approximately $1.8 billion in total assets and $1.7 billion in total deposits. ...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $556.7 million. ... Peoples First Community Bank is the 135th FDIC-insured institution to fail in the nation this year, and the fourteenth in Florida. The last FDIC-insured institution closed in the state was Republic Federal Bank, N.A., Miami, on December 11, 2009.
Citizens State Bank, New Baltimore, Michigan, was closed today by the Michigan Office of Financial and Insurance Regulation, which then appointed Federal Deposit Insurance Corporation (FDIC) as receiver. ...From the FDIC: Beal Bank, Plano, Texas, Assumes All of the Deposits of New South Federal Savings Bank, Irondale, Alabama
As of September 30, 2009, Citizens State Bank had $168.6 million in total assets and $157.1 million in total deposits. ...
The cost to the FDIC's Deposit Insurance Fund is estimated to be $76.6 million. Citizens State Bank is the 136th bank to fail this year and the fourth in Michigan. The last FDIC-insured institution closed in the state was Home Federal Savings Bank, Detroit, on November 6, 2009
New South Federal Savings Bank, Irondale, Alabama, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ...From the FDIC: FDIC Creates Bridge Bank to Take Over Operations of Independent Bankers' Bank, Springfield, Illinois
As of September 30, 2009, New South Federal Savings Bank had approximately $1.5 billion in total assets and $1.2 billion in total deposits. ...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $212.3 million. ... New South Federal Savings Bank is the 137th FDIC-insured institution to fail in the nation this year, and the third in Alabama. The last FDIC-insured institution closed in the state was CapitalSouth Bank, Birmingham, on August 21, 2009.
The Federal Deposit Insurance Corporation (FDIC) created a bridge bank to take over the operations of Independent Bankers' Bank, Springfield, Illinois, after the bank was closed today by the Illinois Department of Financial and Professional Regulation—Division of Banking, which appointed the FDIC as receiver. ...Three banks today with no buyer!
As of September 30, 2009, Independent Bankers' Bank had approximately $585.5 million in assets and $511.5 in deposits. At the time of closing, the bank had an estimated $269,000 in uninsured funds. ...
The FDIC estimates that the cost to the Deposit Insurance Fund will be $68.4 million. Independent Bankers' Bank is the 138th bank to fail in the nation this year and the twenty-first in Illinois. The last FDIC-insured institution to fail in the state was Benchmark Bank, Aurora, on December 4, 2009.
Bank Failure #134: Rockbridge Commercial Bank, Atlanta, Georgia
by Calculated Risk on 12/18/2009 05:12:00 PM
Georgian banks fuel the collapse
A Rockbridge too far
by Soylent Green is People
From the FDIC: FDIC Approves the Payout of the Insured Deposits of Rockbridge Commercial Bank, Atlanta, Georgia
The Federal Deposit Insurance Corporation (FDIC) approved the payout of the insured deposits of RockBridge Commercial Bank, Atlanta, Georgia. ...No buyers - a bad sign. And $2.1 million uninsured?
The FDIC was unable to find another financial institution to take over the banking operations of RockBridge Commercial Bank. ...
As of September 30, 2009, RockBridge Commercial Bank had approximately $294.0 million in total assets and $291.7 million in total deposits. At the time of closing, the bank had an estimated $2.1 million in uninsured funds. ...
RockBridge Commercial Bank is the 134th FDIC-insured institution to fail this year and the twenty-fifth in Georgia since The Buckhead Community Bank, Atlanta, was closed on December 4, 2009. The FDIC estimates the cost of the failure to its Deposit Insurance Fund to be approximately $124.2 million.
