Unofficial Problem Bank List Increases Significantly

[girl gone mad]

Unofficial Problem Bank List Increases Significantly
http://www.calculatedriskblog.com/2009/11/unofficial-problem-bank-list-increases_27.html">Calculated Risk

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

http://cr4re.com/PBLNov2709.html

Changes and comments from surferdude808:

The FDIC finally released its enforcement actions for October today, which led to a large increase in the number of institutions on the Unofficial Problem Bank List.

This week the list changed by a net 30 institutions to 543 from 513 while aggregate assets increased by $10 billion to $312 billion.

For the 33 institutions added, their average asset size is $321 million. The largest include Hillcrest Bank, Overland Park, Kansas ($1.9 billion); Charter Bank, Santa Fe, New Mexico ($1.3 billion), and Severn Savings Bank, Annapolis, Maryland ($990 million). Geographic highlights include the addition of five Illinois-based institutions and four each in Georgia and Texas.

The FDIC issued a Prompt Corrective Action Order against Rockbridge Commercial Bank, Atlanta, Georgia ($294 million), and LibertyPointe Bank, New York, New York ($212 million); LibertyPointe has been operating under a Cease & Desist Order since July 2009.

The deletions this week include Commerce Bank of Southwest Florida, which failed last Friday, and First Independent Bank, where the FDIC terminated the enforcement action during October 2009.

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.