Community Banks are floundering as the number of undercapitalized institutions remains high despite institutions falling off the list as a result a continuing wave of bank failures.
There are now 149 undercapitalized institutions on the TheStreet's Bank Watch List, with preliminary second-quarter data now available for roughly 91% of the nation's banks and thrifts. The number is expected to grow as the remaining regulatory data comes in. Banks are required to file their call reports by August 15.
Based on second-quarter regulatory data supplied by SNL Financial for the nation's banks and savings and loan associations -- and factoring-in 22 bank and thrift failures since TheStreet's previous Watch List was published on May 5 -- 149 institutions were undercapitalized according to the regulatory guidelines that apply to most institutions.