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Unofficial Problem Bank List at 796 Institutions

By Anonymous

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

Here is the unofficial problem bank list for July 16, 2010.

Changes and comments from surferdude808:

The Unofficial Problem Bank List underwent several changes this week as the FDIC resumed shuttering banks and the OCC release their actions through the middle of June. There were nine additions and nine deletions, which leaves the total number of institutions on the Unofficial Problem Bank List unchanged at 796.

Deletions include the six failed institutions -- First National Bank of the South ($682 million Ticker: FNSC), Metro Bank of Dade County ($442 million), Woodlands Bank ($379 million), Turnberry Bank ($263 million), Olde Cypress Community Bank ($169 million), and Mainstreet Savings Bank, FSB ($97 million Ticker: MSFN). Other removals for action termination include West Coast Bank ($2.7 billion Ticker: WCBO), First National Community Bank ($155 million), and The First National Bank of Logan ($25 million).

Additions include Monroe Bank & Trust, Monroe, MI ($1.4 billion Ticker: MBTF); Bank of Whitman, Colfax, WA ($786 million); American Bank of Texas, National Association, Marble Falls, TX ($756 million); Landmark Bank, National Association, Fort Lauderdale, FL ($351 million); The Central National Bank of Alva, Alva, OK ($246 million); Pilot Bank, Tampa, FL ($238 million); Trans-Pacific National Bank, San Francisco, CA ($176 million); The First National Bank of Grant Park, Grant Park, IL ($123 million); and Community National Bank at Bartow, Bartow, FL ($75 million).

Other changes include the OTS issuing a Prompt Corrective Action order against Bayside Savings Bank ($66 million) and the OCC converting a Formal Agreement to a Consent Order against Merchants Bank of California, National Association ($91 million). Next week, we anticipate the FDIC will release its actions for June, so the list will likely undergo many changes.

Full post as published by Calculated Risk on July 17, 2010 (boomark / email).