Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts

Interesting Oddity To CR's Unofficial Problem Bank List

Saturday, October 16, 2010 - 1:39 PM
Calculated Risk Blog updated its unofficial problem bank list. Two of the banks that failed yesterday were removed from the list. The interesting thing to note is that only 2 of the 3 banks that failed yesterday were on the list. One of the failed banks, Premier Bank in Missouri, wasn't on the list. This bank did not have any published enforcement action against it. It's not like this bank's problems were recent. As I mentioned in my bank failure post, the St. Louis Business Journal article asserted that the bank had "startlingly bad financials for many quarters, and its failure was long expected by local bankers". So if a bank isn't on CR's unofficial problem bank list, it doesn't mean it's safe from failure.

There were many other changes to the list due to mergers and actions by the OCC. Here's an excerpt of the additions to the list due to OCC actions:
As anticipated last week, the OCC released its enforcement actions for late August/early September. Six national banks were added this week include First Texoma National Bank, Durant, TX ($215 million); The First National Bank of Eagle River, Eagle Rover, WI ($158 million); North Georgia National Bank, Calhoun, GA ($142 million); The Camden National Bank, Camden, AL ($119 million); First National Bank, Groesbeck, TX ($50 million); and Nevada National Bank, Las Vegas, NV ($39 million).

5
Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,077
Reply