Recap - How did the last quarter predictions fare?

A total of 19 banks in the Top 40 were closed in the last two months, or 47.5% of the entire sample. This comes as little surprise to The Bank Blog given the predicted likelihood of failure for each. What is more interesting is why have the other banks not been closed? As we see from the earlier post about Wilmington Trust Bank, which was classified as a bank with "Issues" based on it's 2-10% chance of failure, there are other forms of resolution for banks with difficulties. So what, if anything, has happened with the survivors?

1. SUNRISE BANK OF ATLANTA of Atlanta, GA
2. PISGAH COMMUNITY BANK of Asheville, NC
3. SUNRISE BANK OF ARIZONA of Phoenix, AZ
9. MICHIGAN COMMERCE BANK of Ann Arbor, MI
15. BANK OF LAS VEGAS of Las Vegas, NV

All owned by Capital Bancorp Limited. Capital Bancorp has consolidated, divested or otherwise re-capitalized a significant number of it's banks in various states. In general, it appears those banks that were healthy enough not to appear on this list were the most desirable acquisition targets. Nonetheless, their activities have held off closure of these other charters. It will be interesting to see how the rank on the next listing.

7. SOUTHERN COMMERCE BANK, NA of Tampa, FL
12. SUNBANK, NATIONAL ASSOCIATION of Phoenix, AZ
39. BANK MIDWEST, NATIONAL ASSOCIATION of Kansas City, MO

These 3 banks were all held by the same holding company Dickinson Financial Corporation. The majority of the branches of Dickinson were sold to NBH Holdings Corp.

8. FIRST SOUND BANK of Seattle, WA - $3.2 million raise in a private placement.
13. ALL AMERICAN BANK of Des Plaines, IL
17. TREATY OAK BANK of Austin, TX - Getting acquired by Carlile Bancshares
19. CENTRAL PACIFIC BANK of Honolulu, HI - Announced plans to raise $325 million.
22. PLANTERSFIRST of Cordele, GA
24. FIRST COMMUNITY BANK of Taos, NM - In discussions with investors
29. CHARTER OAK BANK of Napa, CA - Merged with Bay Commercial Bank
32. FIRST CHOICE COMMUNITY BANK of Dallas, GA
34. AMERICANA COMMUNITY BANK of Sleepy Eye, MN
36. HANMI BANK of Los Angeles, CA - Raised $120 million in new equity.
37. STATE CENTRAL BANK of Keokuk, IA
38. EVERGREEN STATE BANK of Stoughton, WI
40. THE BANK OF ASHEVILLE of Asheville, NC