by Calculated Risk on 12/25/2009 10:06:00 PM

The FDIC is on holiday, but not surferdude808 (He says Merry Christmas!)

This is an unofficial list of Problem Banks compiled only from public sources.

Changes and comments from surferdude808:

Last week’s closures had a large impact on the Unofficial Problem Bank List. Seven institutions with $14.5 billion in assets were removed from last week’s list because of failure.

The failures included First Federal Bank of California ($6.1 billion), Imperial Capital Bank ($4.1 billion), Peoples First Community Bank ($1.8 billion), New South Federal Savings Bank ($1.5 billion), Independent Bankers' Bank ($584 million), and Rockbridge Commercial Bank ($294 million). Other removals include Manatee River Community Bank ($152 million), which merged with First America Bank, Osprey, FL; and Golden First Bank ($25 million), as the OTS terminated its formal action.

Regulators did deliver some not so good Christmas gifts this week as formal actions were issued to three institutions including Midwest Bank and Trust Company, Elmwood Park, IL ($3.5 billion); Centrue Bank, Streator, IL ($1.3 billion); and Bayside Savings Bank, Port Saint Joe, FL ($86 million).

With these changes, the Unofficial Problem Bank List includes 545 institutions with aggregate assets of $295.6 billion.

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.

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:

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

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".

by Calculated Risk on 12/25/2009 05:00:00 PM

A holiday tradition - from Tanta's 2007 Post: A Very Nerdy Christmas (see her post for an explanation of the origins of the Mortgage Pig™)

With the new rules for Fannie and Fredde, maybe it should be "Is that a Pig? No, it's Fannie Mae!"

Click on Pig for larger image in new window.

Happy Holidays to all! CR

by Calculated Risk on 12/25/2009 11:59:00 AM

A few economic posts from this week:

Commentary and housing overview: Residential Investment: Moving Sideways

Treasury Uncaps Fannie and Freddie: TREASURY ISSUES UPDATE ON STATUS OF SUPPORT FOR HOUSING PROGRAMS

From Bloomberg: U.S. Commercial Real Estate Index Falls 1.5%

Existing Home Sales up Sharply in November

New Home Sales Decrease Sharply in November

November PCE and Saving Rate

From the Yosemite Association, a live web cam view of Half Dome in Yosemite. Happy Holidays to all!

by Calculated Risk on 12/25/2009 08:59:00 AM

Peter Cetera (formerly of the band "Chicago") and his daughter Claire perform Blue Christmas in 2008 with Sasha.

Sasha hasn't competed since the World Championships in March 2006, but she will be making a comeback at the U.S. Championships on Jan 21st (short) and Jan 23rd (long) in Spokane.

by Calculated Risk on 12/24/2009 10:10:00 PM

From HotelNewsNow.com: STR reports US performance for week ending 19 December

In year-over-year measurements, the industry’s occupancy declined 0.5 percent to end the week at 42.6 percent. Average daily rate dropped 5.2 percent to finish the week at US$87.98. Revenue per available room for the week decreased 5.6 percent to finish the period at US$37.47. The 0.5-percent occupancy decrease was the best full-week performance of the year for that metric. The 5.2-percent ADR drop was the third best full-week performance of the year behind two consecutive weeks in January. The 5.6-percent fall in RevPAR was the best full-week performance of the year.

A major snow storm on the East Coast and easier year-over-year comparisons helped buoy the numbers.

Click on graph for larger image in new window.

This graph shows the occupancy rate by week for each of the last four years (2006 through 2009 labeled by start of month).

Note: Some of the holidays don't line up - especially at the end of the year.

Data Source: Smith Travel Research, Courtesy of HotelNewsNow.com (Note: They have a free daily email too for hotel news)

As I've been mentioning, there is now growing evidence that the hotel industry has stabilized at this low occupancy rate, although room rates will still be under pressure because this is the lowest occupancy rate (annual) since the Great Depression.

The end of the year can be a little confusing because of the holidays, and the next key week will be mid-to-late January to see if business travel is picking up in 2010.