by Calculated Risk on 11/06/2010 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 Nov 5, 2010.

Changes and comments from surferdude808:

The number of institutions on the Unofficial Problem Bank List remained unchanged this week at 894 as there were four additions and four removals. However, aggregate assets increased to $416.5 billion from $410.7 billion.

Removals this week are the failures that include K Bank, Randallstown, MD ($592 million); Pierce Commercial Bank, Tacoma, WA ($242 million); Western Commercial Bank, Woodland, CA ($111 million); and First Vietnamese American Bank, Westminster, CA ($52 million).

Additions this week are Superior Bank, Tampa, FL ($3.4 billion Ticker: SUPR); The Suffolk County National Bank of Riverhead, Riverhead, NY ($1.7 billion Ticker: SUBK); Essex Bank, Tappahannock, VA ($1.2 billion Ticker: BTC); and Community Central Bank, Mount Clemens, MI ($543 million Ticker: CCBD).

As always, thanks to surferdude808 for compiling this list!

by Calculated Risk on 11/05/2010 09:22:00 PM

There were 140 failures in 2009. This makes 143 and counting in 2010 ...

Bair's valkyries ride
someday this war's gonna end
today is that day
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From the FDIC: Grandpoint Bank, Los Angeles, California, Assumes All of the Deposits of First Vietnamese American Bank, Westminster, California

As of September 30, 2010, First Vietnamese American Bank had approximately $48.0 million in total assets and $47.0 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $9.6 million. ... First Vietnamese American Bank is the 143rd FDIC-insured institution to fail in the nation this year, and the twelfth in California.

by Calculated Risk on 11/05/2010 08:22:00 PM

There were 140 failures in 2009. This makes 142 and counting in 2010 ...

Ben's bucket 'o bucks
Cataclysmic cash cloudburst
Poor panacea
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From the FDIC: Heritage Bank, Olympia, Washington, Assumes All of the Deposits of Pierce Commercial Bank, Tacoma, Washington

As of September 30, 2010, Pierce Commercial Bank had approximately $221.1 million in total assets and $193.5 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $21.3 million. ... Pierce Commercial Bank is the 142nd FDIC-insured institution to fail in the nation this year, and the eleventh in Washington..

by Calculated Risk on 11/05/2010 07:09:00 PM

There were 140 failures in 2009. This makes 141 in 2010 ...

Early Cali down.
Western Commercial Bank Fail
Why the rush, Sheila?
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From the FDIC: First California Bank, Westlake Village, California, Assumes All of the Deposits of Western Commercial Bank, Woodland Hills, California

As of September 30, 2010, Western Commercial Bank had approximately $98.6 million in total assets and $101.1 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $25.2 million. ... Western Commercial Bank is the 141st FDIC-insured institution to fail in the nation this year, and the eleventh in California.

by Calculated Risk on 11/05/2010 06:47:00 PM

K Street Lobbyists
Plenipotentiaries
Could not save K Bank
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From the FDIC: Manufacturers and Traders Trust Company (M&T Bank), Buffalo, New York, Assumes All of the Deposits of K Bank, Randallstown, Maryland

As of September 30, 2010, K Bank had approximately $538.3 million in total assets and $500.1 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $198.4 million. ... K Bank is the 140th FDIC-insured institution to fail in the nation this year, and the fourth in Maryland.

One down today ...