Federal Reservations

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

Here is the unofficial problem bank list for Jan 28, 2011.

Changes and comments from surferdude808:

Not the safest week in banking as the FDIC released its formal enforcement actions for December 2010 and closed four institutions including the largest bank headquartered in New Mexico. This week there were 15 additions and three removals. The changes leave the Unofficial Problem Bank list at 949 institutions with assets of $410.9 billion, up from 937 institutions with assets of $409.4 billion.

The removals include three of the four failures -- First Community Bank, Taos, NM ($2.3 billion Ticker: FSNM); Firstier Bank, Louisville, CO ($782 million); and Evergreen State Bank, Stoughton, WI ($246 million). The other failure this week -- The First State Bank, Camargo, OK was only placed under enforcement action in December 2010 (35 days before it failed) by the FDIC so it never made an appearance on the Unofficial Problem Bank List.

Among the 13 additions are First Federal Savings Bank of Elizabethtown, Elizabethtown, KY ($1.2 billion Ticker: FFKY); The Heritage Bank, Hinesville, GA ($952 million); First American International Bank, Brooklyn, NY ($604 million); Park Federal Savings Bank, Chicago, IL ($216 million Ticker: PFED); and Premier Service Bank, Riverside, CA ($157 million Ticker: PSBK).

Other changes include the issuance of Prompt Corrective Action orders by the FDIC against The Bank of Commerce, Wood Dale, Il ($174 million) and the Federal Reserve against Virginia Business Bank, Richmond, VA ($129 million). Positively, the FDIC terminated the PCA order against AmericanWest Bank, Spokane, WA ($1.5 billion Ticker: AWBCQ).

After the monthly release of actions by the FDIC, it would not be unusual for the Unofficial Problem Bank List to trend down until the middle of next month as closings tend to outpace new order issuance during this part of the month. Overall, if trends persist, the list could hit CR's anticipated [1000] mark by the end of May 2011.

Originally from Calculated Risk

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

Here is the unofficial problem bank list for Dec 31, 2010.

Changes and comments from surferdude808:

The FDIC finally released its enforcement actions for November 2010. After 18 additions and two removals, the Unofficial Problem Bank List finishes 2010 at 935 institutions and assets of $412.4 billion. The two removals were McClave State Bank, McClave, CO ($21 million) and First Resource Bank, Savage, MN ($17 million).

Among the 18 additions are Baylake Bank, Sturgeon, WI ($1.1 billion Ticker: BYLK); Signature Bank of Arkansas, Fayetteville, AR ($617 million); Regent Bank, Davie, FL ($471 million Ticker: RGTB); Grand Bank & Trust of Florida, West Palm Beach, FL ($463 million); United American Bank, San Mateo, CA ($344 million Ticker: UABK); Santa Lucia Bank, Atascadero, CA ($265 million Ticker: SLBA); and New Millennium Bank, New Brunswick, NJ ($246 million Ticker: NMNB).

Other changes include the Federal Reserve issuing a Prompt Corrective Action (PCA) order against BankEast, Knoxville, TN ($287 million). The FDIC terminated a PCA order against Bank 1st, Albuquerque, NM ($78 million).
Transition Matrix
With the passage of another quarter, it is time to update the transition matrix. The Unofficial Problem Bank List debuted on August 7, 2009 with 389 institutions with assets of $276.3 billion (see table below). Over the past 16 months, 163 institutions have been removed from the original list with 114 due to failure, 35 due to action termination, and 14 due to unassisted merger. Almost 30 percent of the 389 institutions on the original list have failed, which is substantially higher than the 12 percent figure usually cited by the media as the failure rate for institutions on the FDIC Problem Bank List. Failed bank assets have totaled $161 billion or nearly 59 percent of the $276.3 billion on the original list.

Since the publication of the original list, another 844 institutions have been added. However, only 709 of those 844 additions remain on the current list as 135 institutions have been removed in the interim. Of the 135 interim removals, 102 were due to failure, 23 were due to unassisted merger, 8 from action termination, and two from voluntary liquidation. In total, 1,296 institutions have made an appearance on the Unofficial Problem Bank List and 216 or 16.7 percent have failed. Of the 298 removals, failure is the primary form of exit (216 or 72 percent) while only 43 or 14.4 percent have been rehabilitated. The average asset size of removals because of failure is $1.1 billion. Currently, the average asset size of institutions on the current list is $441 million versus $710 million on the original list.

Unofficial Problem Bank List
Change Summary
		Number of Institutions	Assets ($Thousands)
Start (8/7/2009)		389	276,313,429
&nbsp
Subtractions
	Action Terminated	35	(5,158,906)
	Unassisted Merger	14	(2,176,310)
	Failures	114	(161,735,942)
	Asset Change		(14,407,340)
&nbsp
Still on List at 7/02/2010		226	92,834,931
&nbsp
Additions		709	319,519,339
&nbsp
End (12/31/2010)		935	412,354,270
&nbsp
Interperiod Deletions1
	Action Terminated	8	14,115,832
	Unassisted Merger	23	22,357,619
	Voluntary Liquidation	2	833,567
	Failures	102	75,345,146
	Total	135	112,652,164
1Institution not on 8/7/2009 or 12/31/2010 list but appeared on a list between these dates.

Originally from Calculated Risk

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

Here is the unofficial problem bank list for Dec 17, 2010.

Changes and comments from surferdude808:

The Unofficial Problem Bank List finished the week at 920 institutions with assets of $411.4 billion, up from 919 institutions last week. Assets were essentially unchanged. This week there were six failures, but only four were on the list -- The Bank of Miami, National Association, Coral Gables, FL ($448 million); Chestatee State Bank, Dawsonville, GA ($244 million); United Americas Bank, National Association, Atlanta, GA ($242 million); and Appalachian Community Bank, F.S.B., McCaysville, GA ($68 million Ticker: APAB).

As anticipated, the OCC released its actions through mid-November, which contributed to the five additions the weeks. Newly joining the list are Omnibank, National Association, Houston, TX ($384 million); Empire National Bank, Islandia, NY ($319 million Ticker: EMPK); The First National Bank of Mercersburg, Mercersburg, PA ($188 million Ticker: MCBG); The Headland National Bank, Headland, AL ($114 million); and The First National Bank of Fleming, Fleming, CO ($18 million).

The OCC strengthened actions against First Citizens Bank of Polson, National Association, Polson, MT ($26 million) and Metropolitan National Bank, New York, NY ($600 million) by replacing Formal Agreements with Consent Orders. The other change was a Prompt Corrective Action order being issued by the Federal Reserve against The Park Avenue Bank, Valdosta, GA ($1.0 billion).

We anticipate the FDIC will release its actions for November 2010 next week, and it is likely they will take the rest of the year off executing closures.

So 157 failures is probably it for 2010.

Originally from Calculated Risk

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

Here is the unofficial problem bank list for Nov 19, 2010.

Changes and comments from surferdude808:

As anticipated, the Unofficial Problem Bank List rose above 900 as the OCC released its actions through the middle of October 2010 today. Net additions were 5 institutions, which pushed the list total to 903. Assets increased this week by $1.13 billion pushing the aggregate total to $419.6 billion.

There were four removals this week including the three failures -- First Banking Center, Burlington, WI ($822 million Ticker: FCBI); Gulf State Community Bank, Carrabelle, FL ($117 million); and Allegiance Bank of North America, Bala Cynwyd, PA ($116 million). First Banking Center opened in 1920, survived the Great Depression, but did not make it through the Great Recession.

The other removal was the termination of a Supervisory Agreement against The First National Bank of Trenton, Trenton, TX ($147 million) by the OCC. We would not be surprised if the termination is because the Supervisory Agreement is being replaced by a Consent Order.

The nine additions this week include Mid-Wisconsin Bank, Medford, WI ($498 million Ticker: MWFS); First National Bank South, Alma, GA ($335 million); Farmers State Bank, Victor, MT ($323 million); Madison National Bank, Merrick, NY ($305 million); United Americas Bank, National Association, Atlanta, GA ($263 million); San Antonio National Bank, Refugio, TX ($249 million); First Federal Bank, A FSB, Tuscaloosa, AL ($180 million); Santa Clara Valley Bank, National Association, Santa Paula, CA ($140 million); and Sonoran Bank, N.A., Phoenix, AZ ($36 million).

Other changes this week include the Federal Reserve issuing a Prompt Corrective Action Order against Legacy Bank, Milwaukee, WI ($216 million); and the OCC converting a Formal Agreement to a Consent Order against Fidelity Bank of Florida, National Association, Merritt Island, FL ($419 million). We anticipate the FDIC will release its actions for October next week.

The Q3 FDIC Quarterly banking profile will be released soon and will probably show around 900 problem banks at the end of September.

Originally from Calculated Risk

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

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

Here is the unofficial problem bank list for August 20, 2010.

Changes and comments from surferdude808:

Failures and the OCC disclosure of its recent actions contributed to many changes in the Unofficial Problem Bank List this week. After 12 additions and 8 removals this week the Unofficial Problem Bank List stands at 817 institutions with aggregate assets of $415.9 billion.

The eight failures this week – ShoreBank ($2.3 billion), Los Padres Bank ($902 million Ticker: HWFG), Butte Community Bank ($523 million Ticker: CVLL), Sonoma Valley Bank ($363 million Ticker: SBNK), Pacific State Bank ($323 million Ticker: PSBC), Independent National Bank ($163 million Ticker: IBFL), Community National Bank at Bartow ($75 million), and Imperial Savings and Loan Association ($10 million) were removed.

There were 12 additions this week including Southern First Bank, National Association, Greenville, SC ($742 million Ticker: SFST); First National Bank South Dakota, Yankton, SD ($405 million Ticker: FINN); The Peoples National Bank, Easley, SC ($341 million Ticker: PBCE); and United Fidelity Bank, fsb, Evansville, IN ($214 million Ticker: FDLB).

Other changes include Prompt Corrective Action Orders issued by the Federal Reserve against First Banking Center ($869 million Ticker: FBCI) and by the OTS against Security Savings Bank, F.S.B. ($536 million).

Note: The FDIC Q2 2010 Quarterly Banking Profile will be released this coming week.

Originally from Calculated Risk

The Federal Reserve Bank of New York put another step in place for the process with which it will eventually work to unwind the Fed's massive quantitative easing. The New York Fed announced Wednesday the expansion of its list of counterparties for conducting reverse repurchase agreement transactions ["reverse repos"].

Originally from MarketWatch

SAN FRANCISCO (MarketWatch) -- Goldman Sachs changed its list of top stocks on Thursday as concerns shift from Europe's sovereign debt crisis to the possibility of a U.S. economic slowdown. Goldman economists recently cut their growth forecasts and they now expect more quantitative easing from the Federal Reserve, the firm noted. Lower interest rates should help private-equity firms like Blackstone Group and real estate investment trusts including Simon Property Group , Goldman said in a note to investors. The firm put Blackstone and Simon Property shares on its Conviction Buy List, along with Brookdale Senior Living , which runs homes for old people. Derivatives exchange operator CME Group and commercial real estate brokerage firm CB Richard Ellis were taken off Goldman's list.

Originally from MarketWatch

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

Here is the unofficial problem bank list for July 23, 2010.

Changes and comments from surferdude808:

Failed banks led to a reduction in the Unofficial Problem Bank List this week. The list stands at 792 institutions with aggregate assets of $409.3 billion.

There were seven removals because of failure including Crescent Bank and Trust Company ($1.0 billion), Sterling Bank ($408 million), Home Valley Bank ($258 million Ticker: HVYB), SouthwestUSA Bank ($214 million), Williamsburg First National Bank ($139 million), Community Security Bank ($109 million), and Thunder Bank ($33 million).

There were three additions this week including Metro United Bank, San Diego, CA ($463 million Ticker: MCBI); Bank VI, Salinas, KS ($98 million); and American Loan and Savings Association, Hannibal, MO ($6 million). The other change is a Prompt Corrective Action Order issued by the Federal Reserve against Pacific State Bank ($323 million Ticker: PSBC).

While the FDIC was busy closing some problem institutions, they did not release their enforcement actions for June as we had anticipated they would. Look for it next week.

Originally from Calculated Risk

WASHINGTON (Reuters) - The Federal Reserve's list of worries may be getting longer.

Originally from Reuters: Business News