by Calculated Risk on 4/16/2010 10:45:00 PM

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

Here is the unofficial problem bank list for April 16, 2010.

Changes and comments from surferdude808:

The closures this week and publication of actions issued by the OCC during March contributed to a large number of changes in the Unofficial Problem Bank List this week.

There were 25 institutions with assets of $8.7 billion added this week while 9 institutions with assets of $6.4 billion were removed. The net of this activity results in an Unofficial Problem Bank List that has 698 institutions with combined assets of $366.5 billion, up from 682 institutions with assets of $364.1 billion last week.

The Unofficial Problem Bank List has mostly closed the gap with the latest FDIC Official Problem Bank List that included 702 institutions. Notable among the 25additions are Far East National Bank, Los Angeles, CA ($2 billion); BNC National Bank, Phoenix, AZ ($867 million Ticker: BNCC.PK); First Community Bank, National Association, Lexington, SC ($605 million Ticker: FCCO); Citizens National Bank of Paintsville, Paintsville, IL ($582 million Ticker: CZNL.OB); and Golden Bank, National Association, Houston, TX ($507 million).

The removals include an action termination by the Federal Reserve against KCB Bank ($143 million), and the 8 failures -- Riverside National Bank of Florida ($3.4 billion), City Bank ($1.1 billion), Tamalpais Bank ($629 million), First Federal Bank of North Florida ($393 million), Innovative Bank ($269 million), Butler Bank ($268 million), AmericanFirst Bank ($90 million), and Lakeside Community Bank ($53 million).

by Calculated Risk on 4/16/2010 09:28:00 PM

City Bank failure.
Not that one, nor that one...yet.
Not that one either.
by Soylent Green is People
From the FDIC: Whidbey Island Bank, Coupeville, Washington, Assumes All Of The Deposits Of City Bank, Lynnwood, Washington

As of December 31, 2009, City Bank had approximately $1.13 billion in total assets and $1.02 billion in total deposits.
...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $323.4 million.... City Bank is the 50th FDIC-insured institution to fail in the nation this year, and the fifth in Washington. The last FDIC-insured institution closed in the state was Rainier Pacific Bank, Tacoma, February 26, 2010.

by Calculated Risk on 4/16/2010 08:50:00 PM

A dog eat dog world
Now banks eat banks nationwide.
Ms. Bair = Ms. PacMan?
by Soylent Green is People
From the FDIC: Union Bank, National Association, San Francisco, California, Assumes All Of The Deposits Of Tamalpais Bank, San Rafael, California

As of December 31, 2009, Tamalpais Bank had approximately $628.9 million in total assets and $487.6 million in total deposits.
...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $81.1 million. ... Tamalpais Bank is the 49th FDIC-insured institution to fail in the nation this year, and the third in California. The last FDIC-insured institution closed in the state was Innovative Bank, Oakland, earlier today.

This bank made some really bad CRE loans, see from David Johnson: When smart money said "no more," not-so-smart Marin bank loaned the Lembis $41 million.

by Calculated Risk on 4/16/2010 08:12:00 PM

Innovative Bank
Nothing's new under the sun
Same mistakes, same end.
by Soylent Green is People
From the FDIC: Center Bank, Los Angeles, California, Assumes All Of The Deposits Of Innovative Bank, Oakland, California

As of December 31, 2009, Innovative Bank had approximately $268.9 million in total assets and $225.2 million in total deposits.
...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $37.8 million. ... Innovative Bank is the 48th FDIC-insured institution to fail in the nation this year, and the 3rd in California. The last FDIC-insured institution closed in the state was La Jolla Bank, FSB, La Jolla, February 19, 2010.

by Calculated Risk on 4/16/2010 06:07:00 PM

Banks new built Rockies.
Soaring peaks of verdant green
All debt, I.O.U's.
by Soylent Green is People
From the FDIC: TD Bank, National Association, Wilmington, Delaware, Acquires All the Deposits of Three Florida Institutions

TD Bank, National Association (N.A.), Wilmington, Delaware, acquired the banking operations, including all the deposits, of three Florida-based institutions. ... AmericanFirst Bank, Clermont; First Federal Bank of North Florida, Palatka; and Riverside National Bank of Florida, Fort Pierce
...
As of December 31, 2009, AmericanFirst Bank had total assets of $90.5 million and total deposits of $81.9 million; First Federal Bank of North Florida had total assets of $393.3 million and total deposits of $324.2 million; and Riverside National Bank of Florida had total assets of $3.42 billion and total deposits of $2.76 billion.
...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for AmericanFirst Bank will be $10.5 million; for First Federal Bank of North Florida, $6.0 million; and for Riverside National Bank of Florida, 491.8 million.
...
These were the 44th, 45th, and 46th banks to fail in the nation this year, and the seventh, eighth, and ninth banks to close in Florida. Prior to these failures, the last bank closed in the state was Key West Bank, Key West, on March 26, 2010.

From the FDIC: People's United Bank, Bridgeport, Connecticut, Assumes All of the Deposits of Butler Bank, Lowell, Massachusetts

As of December 31, 2009, Butler Bank had approximately $268.0 million in total assets and $233.2 million in total deposits.
...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $22.9 million. .... Butler Bank is the 47th FDIC-insured institution to fail in the nation this year, and the first in Massachusetts. The last FDIC-insured institution closed in the state was Ludlow Savings Bank, Ludlow, October 21, 1994.

That makes 5 today.