The Oldest and Most Trusted Real Estate News Magazine

Unofficial Problem Bank list declines to 770 Institutions

By

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

Here is the unofficial problem bank list for May 17, 2013.

Changes and comments from surferdude808:

As anticipated, the OCC released its enforcement action activity through mid-April 2013 this Friday. What we did not anticipate was an early week failed-bank closure of another Capitol Bancorp’s banking subsidiaries after two were closed last Friday. Along with the failure, there were two other removals and two additions to the Unofficial Problem List this week. After changes, the list has 770 institutions with assets of 4.1 billion. A year ago, the list held 928 institutions with assets of 1.9 billion.

The OCC terminated actions against Liberty Savings Bank, F.S.B., Wilmington, OH (2 million) and First Federal Community Bank, Paris, TX (4 million); and issued actions against Mid-Southern Savings Bank, FSB, Salem, IN (8 million) and Midwest Federal Savings and Loan Association of St Joseph, Saint Joseph, MO ( million Ticker: SJBA).

In a rare Tuesday closing, the Arizona Department of Financial Institutions shuttered Central Arizona Bank, Scottsdale, AZ ( million Ticker: CBCRQ). The state banking department was prevented from closing the bank last Friday because of a legal challenge by Capitol Bancorp. By Tuesday, the state banking department was able to prevail, in part, because the bank’s Tier 1 leverage ratio had apparently fallen much lower than the 2.13 percent reported in the bank’s March 2013 Call Report. Meanwhile in Nevada, the Nevada Department of Business and Industry’s Financial Institutions Division was prevented from closing 1st Commerce Bank, North Las Vegas ( million) through another legal action by Capitol Bancorp. Reportedly, a preliminary hearing on the injunction stopping the closing will be held next Thursday. SNL Securities is reporting that Capitol Bancorp, in a bankruptcy filing, sold its remaining interest in Capitol National Bank, Lansing, MI (5 million) in April 2013 with the proceeds being held in escrow until the FDIC issues a cross-guaranty liability waiver.


Calculated Risk

Tags: , , , , ,

Sitemap Madbadcat Graphics