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Unofficial Problem Bank List at 792 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 23, 2010.

Changes and comments from surferdude808:

Failed banks led to a reduction in the Unofficial Problem Bank List this week. The list stands at 792 institutions with aggregate assets of $409.3 billion.

There were seven removals because of failure including Crescent Bank and Trust Company ($1.0 billion), Sterling Bank ($408 million), Home Valley Bank ($258 million Ticker: HVYB), SouthwestUSA Bank ($214 million), Williamsburg First National Bank ($139 million), Community Security Bank ($109 million), and Thunder Bank ($33 million).

There were three additions this week including Metro United Bank, San Diego, CA ($463 million Ticker: MCBI); Bank VI, Salinas, KS ($98 million); and American Loan and Savings Association, Hannibal, MO ($6 million). The other change is a Prompt Corrective Action Order issued by the Federal Reserve against Pacific State Bank ($323 million Ticker: PSBC).

While the FDIC was busy closing some problem institutions, they did not release their enforcement actions for June as we had anticipated they would. Look for it next week.

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