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Unofficial Problem Bank List April 23, 2010

By Anonymous

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

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

Changes and comments from surferdude808:

Bank closings dictated many changes to the Unofficial Problem Bank List this week. The failures in Illinois -- Amcore Bank, National Association ($3.8 billion), Broadway Bank ($1.2 billion), New
Century Bank ($510 million), Wheatland Bank ($437 million), Lincoln Park Savings Bank ($205 million), Peotone Bank and Trust Company ($136 million), and Citizens Bank and Trust Company of Chicago ($77 million) -- removed seven banks and $6.3 billion of assets.

Another removal this week was Paragon Bank & Trust ($107 million), a subsidiary of Capitol Bancorp (Ticker: CBC), which merged with its affiliate Michigan Commerce Bank that is also subject to a formal action. There were four additions this week including Sun National Bank, Vineland, NJ ($3.6 billion Ticker: SNBC); Great Florida Bank, Coral Gables, FL ($1.8 billion Ticker: GFLB); Central Virginia Bank, Powhatan, VA ($472 million Ticker: CVBK); and The Bank of Currituck, Moyock, NC ($197 million).

The net of these changes result in the Unofficial Problem Bank List having 694 institutions with aggregate assets of $366.1 billion. Other changes include the termination of the Prompt Corrective Action against Heritage Bank, Topeka, KS, and a name change for AmericasBank to CFG Community Bank. Next week, we look for the FDIC to release its new actions for March 2010.

Full post as published by Calculated Risk on April 24, 2010 (boomark / email).