The Oldest and Most Trusted Real Estate News Magazine

Unofficial Problem Bank list declines to 786 Institutions

By

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

Here is the unofficial problem bank list for Apr 12, 2013.

Changes and comments from surferdude808:

Mergers were the theme of the week as four problem banks exited the list by merging on an unassisted basis. After removal, the list holds 786 institutions with assets of 9.4 billion. A year ago, the list had 944 institutions with assets of 5.3 billion.

Acquired were Herald National Bank, New York, NY (0 million); Reliance Bank, FSB, Fort Myers, FL ( million); The Community Bank of Shell Knob, Shell Knob, MO ( million); and Monadnock Community Bank, Peterborough, NH (7 thousand). A few of these deals happened months ago but the FDIC has just updated their database to reflect the charters being eliminated. Herald National Bank was acquired by BankUnited Inc. (BKU) and is CEO John Kanas return vehicle to the New York City market after he sold North Fork Bancorp in 2006 to Capital One, which delayed his return through a lawsuit claiming breach of a non-compete agreement. Reliance Bank, FSB merged with its sister bank Reliance Bank, Des Peres, MO (4 million), which is also operating under a formal enforcement action. The other interesting merger is Monadnock, which was acquired by GFA Federal Credit Union in the first ever purchase of a savings bank by a credit union.

Next week, we anticipate the OCC will release its actions through mid-March 2013.

Earlier:
• Summary for Week Ending April 12th
• Schedule for Week of April 14th
Calculated Risk

Tags: , , , , ,

Sitemap Madbadcat Graphics