December 21 2012

Ah yes the economy is just chugging alon! Signs of recovery everywhere! That's why the Unofficial Problem Bank List increased Friday to 507! But not to worry.....Bush bailed out Wall Street and the banks the first time. Obama has bailed everyone else out....maybe he;ll do another TARP for the second round of banks which are about to fail!

http://www.calculatedriskblog.com/2009/11/unofficial-problem-bank-list-increases.html

Unofficial Problem Bank List increases to 507by CalculatedRisk on 11/13/2009 09:30:00 PM
Note: This was before the three FDIC bank seizures today.
Friday, November 13, 2009

Seven institutions with assets of $1.6 billion were added to the list. The largest addition is First Federal Bank of North Florida, Palatka, FL ($444 million). The OCC did not release its actions for October today so we will look for those additions next week.

Assets on the list fell substantially from $330 billion to $304 billion as $13.2 billion of the decline came from the three failures last week -- United Commercial Bank ($12.8 billion), Prosperan Bank ($197 million), and Home Federal Savings Bank ($14 million) – and 2 banks that underwent unassisted mergers during July -- Discovery Bank ($151 million), and Southern Bank of Commerce ($30 million).

The list has been updated to include asset figures for the third quarter of 2009, which accounted for $14.5 billion of the decline in assets from last week. The largest decline in assets during the quarter occurred at AmTrust Bank (down $1.7 billion) and Woodlands Commercial Bank (down $1 billion). The average decline in assets during the quarter was $29 million but the median decline was only $4.5 million.

Positively, 368 institutions reduced their asset size during the quarter.

The only other changes to the list are the issuance of Prompt Corrective Action orders against three institutions that are already under a formal enforcement action. These PCA order were issued against Evergreen Bank, New South Federal Savings Bank, and Orion Bank (CR Note: Orion failed today!).