This week marks the 13th week of The Bank Blog. Hopefully, new predictions will be coming sometime during the next week representing the next quarter.
Our final closer was number 55 on the list, Palos Bank and Trust Company of Palos Heights, IL. Palos continues the trend of recent bank failures in small banks, specifically those with assets under $1 billion. As of the end of June, Palos Bank and Trust had total assets of approximately $493.4 million and $467.8 million in total deposits. First Midwest Bank of Itasca, IL (4538th) has agreed to assume all deposits.
So how did we do?
38 banks were seized during the quarter.
31 banks were included in our sample (the other 7 were OTS regulated and not covered). This was .44% of the 7,101 banks in the sample
4 of the Top 5 banks failed.
5 of the Top 10.
13 of the Top 25.
28 of the Top 100.
The worst 1.5% of banks by rankings included over 90% of failures.
The lowest ranked bank to fail was #262 Home Valley Bank.
Friday, August 13, 2010
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