This is an unofficial list of Problem Banks compiled only from public sources.
Here is the unofficial problem bank list for September 13, 2013.
Changes and comments from surferdude808:
The FDIC shuttered two banks this Friday to keep things interesting. The failures and two action terminations caused the Unofficial Problem Bank List to drop to 700 institutions with assets of $246.0 billion. A year ago, the list held 866 institutions with assets of $330.5 billion.
Actions were terminated against Nextier Bank, National Association, Evans City, PA ($510 million) and Seattle Bank, Seattle, WA ($223 million). Failures this week were First National Bank, Edinburg, TX ($3.1 billion) and The Community’s Bank, Bridgeport, CT ($26 million). The failure in Connecticut is only the second in FDIC’s Boston Region since the onset of the financial crisis. In this region, proactive local supervision leadership contributed to the comparatively stellar failure performance as reflected by the low number of failed institutions and low volume of failed bank assets.
According to a report published by SNL Securities (Bankruptcy judge will not permit Capitol Bancorp’s FDIC ‘fishing expedition’) on September 12th, the presiding bankruptcy judge denied the holding company’s request to conduct discovery to determine if the FDIC has not acted in good faith by not approving cross-guarantee waivers. An FDIC attorney said the agency would reach a decision on the waivers “as quickly as it can.” So the saga of Capitol Bancorp continues.
Next week, we anticipate the OCC will release its actions through mid-August.
CR Note: The first unofficial problem bank list was published in August 2009 with 389 institutions. Less than two years later the list peaked at 1,002 institutions. Now, more than two years after the peak, the list is down to 700 (the list increased faster than it is decreasing – but it is steadily decreasing as regulators terminate actions and close a few more banks).