Number Three Worst Bank is Number One Failure

3rd ranked, The Bank of Commerce of Wood Dale, IL finally succumbed to regulators this week. The roughly $163.1 million bank by total assets had nearly identical deposits of $161.4 million, a clear sign of trouble. Advantage National Bank Group (3941st) of Elk Grove Village, IL has agreed to assume all deposits. They also entered into a loss-share transaction with the FDIC on $145.7 million of The Bank of Commerce's assets. Advantage National Bank Group will share in the losses on the asset pools covered under the loss-share agreement. The expected costs of the closure are $41.9 million.

Today, the FDIC also issued it's new list of Prompt Corrective Actions from February. This list indicates some of the most at risk banks. Included on that list are ranked banks:

4. Bank of Las Vegas
9. Michigan Commerce Bank
15. Sunrise Bank of Arizona