Federal Reservations

Note: this is an unofficial list of Problem Banks compiled only from public sources.

Here is the unofficial problem bank list for September 3, 2010.

Changes and comments from surferdude808:

It was a comparatively quiet week for the Unofficial Problem Bank List as there were only four additions and no removals with the FDIC taking the long holiday weekend off from closures.

The additions include First National Bank of Chester County, Chester, PA ($1.2 billion Ticker: FCEC); Lafayette Savings Bank, FSB, Lafayette, IN ($379 million Ticker: LSBI); Oregon Community Bank & Trust, Oregon, WI ($195 million); and Hull Federal Savings Bank, Baltimore, MD ($27 million). Other changes include Prompt Corrective Action Orders issued by the Federal Reserve against First Community Bank ($2.6 billion Ticker: FSNM) and Sunrise Bank ($134 million) and OTS against AnchorBank, fsb ($4.0 billion Ticker: ABCW).

The Unofficial Problem Bank List includes 844 institutions with aggregate assets of $412 billion. This week the FDIC released its official count of problem institutions at 829 with assets of $403 billion as of June 30th.

Click on graph for larger image in new window.

This graph shows the number of banks on the unofficial list. The number of institutions has more than doubled since we started the list in early August 2009 – even with all the bank failures (failures are removed from the list). The number of assets is up 50 percent over the last year.

On August 7, 2009, we listed 389 institutions with $276 billion in assets, and now the list has 844 institutions and $412 billion in assets.

The red dots are the number of banks on the official problem bank list as announced in the FDIC quarterly banking profile for Q2 2009 through Q2 2010. The dots are lagged one month because of the delay in announcing formal actions.

The unofficial count is close to the official count (the difference is mostly timing issues), and the FDIC will probably have close to 1,000 banks on the list by the end of the year.

Originally from Calculated Risk

Over the past several years, the Federal Reserve and the U.S. government have tried everything that they can think of to stimulate this dead horse of an economy but nothing has worked.  The Fed has slashed the federal funds rate to record low levels, mortgage rates have been pushed to all-time lows and the U.S. government has spent hundreds of billions of dollars in an effort to get the economy going.  But despite all these of these extraordinary efforts, the U.S. economy continues to … [visit site to read more]

Originally from Daily Markets

WASHINGTON (Reuters) – U.S. employment fell for a third straight month in August, but the drop was far less than expected and private hiring surprised on the upside, easing pressure on the Federal Reserve to prop up economic growth.

Originally from Reuters: Business News

I am standing on the corner of the street, doing my duty to “give back” to society, in this case by yelling at morons passing by in the cars, “We’re freaking doomed, you moron! Your own stupid government has destroyed you by letting the foul, fetid, festering Federal Reserve create too much money that they stupidly, stupidly, stupidly did as part of the stupid neo-Keynesian econometric theoretical lunacy that has mesmerized them, so that a shiny computer in front of a neo-Keynesian econometric economist is like a shiny toy in front of a monkey, and which has mesmerized the Fed and the government for similar reasons, and with similar results, in that the toy is now broken, the monkey cut its hand on the broken toy, the cut is infected, and there is a good chance that the monkey will die a horrible, painful death! Hahaha! How do you like them apples? Horrible, painful death! We’re freaking doomed, including you and your hotshot car with the radio turned up real loud, trying to drown me out! And stop honking at me! I have rights, you moron!”

Originally from The Market Oracle

WASHINGTON (Reuters) – U.S. employment fell for a third straight month in August, but the drop was far less than expected and private hiring surprised on the upside, easing pressure on the Federal Reserve to prop up economic growth.

Originally from Reuters: Business News

WASHINGTON (Reuters) – U.S. employment fell for a third straight month in August, but the drop was far less than expected and private hiring surprised on the upside, easing pressure on the Federal Reserve to prop up economic growth.

Originally from Reuters: Business News

WASHINGTON (Reuters) – U.S. employment fell for a third straight month in August, but the drop was far less than expected and private hiring surprised on the upside, easing pressure on the Federal Reserve to prop up economic growth.

Originally from Reuters: Business News

WASHINGTON (MarketWatch) — There has been too much alarmist discussion of recent economic indicators and the outlook is not as pessimistic as some have suggested, said Dennis Lockhart, the president of the Atlanta Federal Reserve Bank on Friday. Lockhart said he thinks the U.S. economy is experiencing a “temporary downshift” and the economy will look and feel better at the end of the year than it does today. In a speech in East Tennessee State University, Lockhart said the Fed’s decision last month to buy Treasurys to maintain a stable balance sheet had been “over-interpreted.” He said it did not herald the start of new quantitative easing. Lockhart said the August nonfarm payroll report did not change the picture in the labor market of continued high unemployment. Consumers are holding back from spending because of labor market conditions, he said.

Originally from MarketWatch

WASHINGTON (Reuters) – U.S. employment fell for a third straight month in August, but the drop was far less than expected and private payrolls growth surprised on the upside, easing pressure on the Federal Reserve to prop up growth.

Originally from Reuters: Business News

WASHINGTON (Reuters) – U.S. employment likely fell for a third straight month in August as more temporary census jobs ended and cautious businesses scaled back hiring, an outcome that could pressure the Federal Reserve to prop up growth.

Originally from Reuters: Business News