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Unofficial Problem Bank List At 919 Institutions [CR]

Monday, December 27, 2010 - 7:49 AM
There were 3 removals and 2 additions on the Calculated Risk Blog's unofficial problem bank list. The two banks added to the list include:
  • Provident Community Bank, National Association, Rock Hill, SC
  • Security Federal Savings Bank, Logansport, IN
There weren't any bank failures last Friday, and since this Friday is New Year's Eve, the FDIC is probably done for the year. The last bank failures were on December 17th. The total number of bank failures for the year is 157.
Ken TuminKen Tumin5,473 posts since
Nov 29, 2009
Rep Points: 125,800
1. Monday, December 27, 2010 - 12:49 PM
Does anyone know how a bank gets OFF the list (other than from failing)? For example, Aurora Bank, FSB, which has 4 stars on this site, 3 stars with Bauer and 4 stars with Bankrate, is still on Calculated Risk's unofficial problem bank list, originally due to a C&D order in January, 2009 (to then Lehman Brothers Bank). If the current ratings indicate better stability, how much weight should we give to the bank's inclusion on the list?
JeanneJeanne7 posts since
Jul 8, 2010
Rep Points: 53
2. Monday, December 27, 2010 - 5:08 PM
The regulators do sometimes terminate the enforcement action. That was the case with one of the three recent removals.

Aurora Bank could be successfully addressing the issues of the order. However, it's hard to know how much progress is being made.
Ken TuminKen Tumin5,473 posts since
Nov 29, 2009
Rep Points: 125,800