Bank Failure Friday

[Pepe]

This is another thread I will return to each Friday or Saturday to report Bank Failures as reported by the FDIC most usually late Friday or early Saturday.

Plus I will report the "Unofficial Problem Bank List" at approximately the same time.

Unofficial Problem Bank list declines to 586 Institutions

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

Here is the unofficial problem bank list for February 14, 2014.

Changes and comments from surferdude808:

Some minor changes were made to the Unofficial Problem Bank List this week. Three removals and one addition leave the list at 586 institutions with assets of $194.9 billion. A year ago, the list held 812 institutions with assets of $303.0 billion.

Removed this week were Trans-Pacific National Bank, San Francisco, CA ($126 million); Conway Bank, National Association, Conway Springs, KS ($66 million); and First Security Bank of Malta, Malta, MT ($31 million). Conway Bank, N.A. had been under a formal action the longest of any banking as the OCC placed under a Formal Agreement in January 2005 that was subsequently replaced by a Consent Order in March 2011. There are five banks on the list that first became subject to a formal action in 2007.

The addition this week is Allied First Bank, SB, Oswego, IL ($121 million). Other changes to list were the termination of a Prompt Corrective Action order against Community Shores Bank, Muskegon, MI ($183 million).

Next Friday, the OCC should release its enforcement action activity through mid-January 2014. We may be able to update assets through year-end 2013. The FDIC will likely release industry results and update to the official list during the last full week of the month at the earliest.

CR

 

[william the wie]

It keeps on shrinking.

 

[expat_panama]

It keeps on shrinking.

That was my thought--

--it doesn't seem to be an issue. Even during the '09-'10 mess is was small potatoes compared to the S&L era.

 

[SteadyMercury]

This is another thread I will return to each Friday or Saturday to report Bank Failures as reported by the FDIC most usually late Friday or early Saturday.

You need a hobby man.

 

[william the wie]

Why, data miners are useful.

 

[Pepe]

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

Here is the unofficial problem bank list for February 21, 2014.

Changes and comments from surferdude808:

Late Friday, the OCC released an update on its recent enforcement action activity that contributed to many removals from the Unofficial Problem Bank List. During the week, there were eight removals that lowered the list institution count to 578 with assets of $193.0 billion. A year ago, the list held 809 institutions with $302.8 billion of assets.

The OCC terminated actions against Home Federal Savings Bank, Rochester, MN ($562 million Ticker: HMNF); The Farmers National Bank of Buhl, Buhl, ID ($391 million); 1st National Bank of South Florida, Homestead, FL ($307 million); American National Bank, Oakland Park, FL ($235 million); Liberty Bank, National Association, Twinsburg, OH ($203 million); Cherokee Bank, National Association, Canton, GA ($168 million Ticker: CHKJ); First Capital Bank, Bennettsville, SC ($58 million Ticker: FCPB); and The First National Bank of Fleming, Fleming, CO ($23 million).

Next week, the FDIC should release an update on its latest enforcement action activities and a report on industry results for the fourth quarter and full year of 2013. Included should be updated figures on the Official Problem Bank List. At the last quarterly release in November 2013, the count on the unofficial list exceeded the official by 130. Since then, the unofficial list has declined by 67 institutions. We are anticipating for the difference to narrow with this release.

CR

 

[william the wie]

With write downs, liquidations and more capital the US banking system sounds like it is in good shape but the wildcard is the number of anchor baby and investment properties being bought by those fleeing the real estate bubbles in the rest of the world. The shadow inventories still exist and they could be abandoned for back taxes. Sorry about the late post.