This week 28th ranked Habersham Bank of Clarkesville, GA became the first Top 40 to fail. It had approximately $387.6 million in total assets and $339.9 million in total deposits was closed. SCBT National Association (2763rd) of Orangeburg, SC has agreed to assume all deposits. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $90.3 million.
50th ranked (formerly 37th) Citizens Bank of Effingham of Springfield, GA also failed this week. It had approximately $214.3 million in total assets and $206.5 million in total deposits. Heritage Bank of the South (3800th) of Albany, GA has agreed to assume all deposits. The FDIC estimates the cost to the DIF at $59.4 million.
111th ranked Charter Oak Bank of Napa, CA also shut down this week. Charter Oak was a member of the Aug. 2010 list. Although its overall risk appeared to be falling it was not enough to avoid eventual seizure. The bank had approximately $120.8 million in total assets and $105.3 million in total deposits when closed. Bank of Marin (4126th) of Novato, CA has agreed to assume all deposits. The total cost to the DIF is estimated at $21.8 million.
The final closure of the week was OTS regulated (so un-ranked) San Luis Trust Bank, FSB of San Luis Obispo, CA. It had approximately $332.6 million in total assets and $272.2 million in total deposits. First California Bank (5008th) of Westlake Village, CA assumed the deposits. The expected cost is estimated to be $96.1 million.
Friday, February 18, 2011
Thursday, February 17, 2011
Recap - How did the last quarter predictions fare?
Fewer banks failed, 26, over the last quarter in part due to a number of holidays. Of these:
6 banks in the Top 10
6 banks 11th-40th
5 banks 51st-100th
5 banks 100th-117th
2 All out surprises - First Southern Bank, a fraud victim, and First State Bank
2 Unlisted, OTS regulated banks for which there isn't data.
In all, 12 banks left the list due to failures this period. 4 others left while the other 24 remain on the list.
6 banks in the Top 10
6 banks 11th-40th
5 banks 51st-100th
5 banks 100th-117th
2 All out surprises - First Southern Bank, a fraud victim, and First State Bank
2 Unlisted, OTS regulated banks for which there isn't data.
In all, 12 banks left the list due to failures this period. 4 others left while the other 24 remain on the list.
Feb. 2011 Top 40
It is time for a new Top 40 listing. The Bank Blog has refined a few of it's measures which should improve model predictability. Expected failure rates are down slightly for the average for banks on the list. Returning banks make up 60% of the list and are in bold. Closed banks are in italics.
1. FIRST CHOICE COMMUNITY BANK of DALLAS, GA
2. LEGACY BANK of MILWAUKEE, WI
3. THE BANK OF COMMERCE of WOOD DALE, IL
4. BANK OF LAS VEGAS, of LAS VEGAS, NV
5. MID CITY BANK, INC. of OMAHA, NE
6. FIRST NATIONAL BANK OF CENTRAL FLORIDA of WINTER PARK, FL
7. FIRST GUARANTY BANK AND TRUST COMPANY of JACKSONVILLE, FL
8. THE FIRST NATIONAL BANK OF OLATHE of OLATHE, KS
9. MICHIGAN COMMERCE BANK of ANN ARBOR, MI
10. OPTIMUMBANK of PLANTATION, FL
11. MCINTOSH STATE BANK of JACKSON, GA
12. COMMUNITYONE BANK, N.A. of ASHEBORO, NC
13. VALLEY COMMUNITY BANK of SAINT CHARLES, IL
14. THE FIRST NATIONAL BANK OF FLORIDA of MILTON, FL
15. SUNRISE BANK OF ARIZONA of PHOENIX, AZ
16. CORTEZ COMMUNITY BANK of BROOKSVILLE, FL
17. WESTERN SPRINGS NATIONAL BANK AND TRUST of WESTERN SPRINGS, IL
18. PISGAH COMMUNITY BANK of ASHEVILLE, NC
19. HIGH TRUST BANK of STOCKBRIDGE, GA
20. THE ROYAL PALM BANK OF FLORIDA of NAPLES, FL
21. CREEKSIDE BANK of WOODSTOCK, GA
22. FRIENDS BANK of NEW SMYRNA BEACH, FL
23. ALL AMERICAN BANK of DES PLAINES, IL
24. THE FIRST STATE BANK of STOCKBRIDGE, GA
25. CENTRUST BANK, N.A. of NORTHBROOK, IL
26. BARTOW COUNTY BANK of CARTERSVILLE, GA
27. THE PARK AVENUE BANK of VALDOSTA, GA
28. HABERSHAM BANK of CLARKESVILLE, GA
29. FIRST INTERNATIONAL BANK of PLANO, TX
30. PATRIOT BANK OF GEORGIA of CUMMING, GA
31. BUILDERS BANK of CHICAGO, IL
32. SOUTHERN COMMERCE BANK, NA of TAMPA, FL
33. ATLANTIC SOUTHERN BANK of MACON, GA
34. 1ST COMMERCE BANK of NORTH LAS VEGAS, NV
35. SUNRISE BANK of VALDOSTA, GA
36. FIRST COMMERCIAL BANK of TAMPA, FL
37. LANDMARK BANK OF FLORIDA of SARASOTA, FL
38. DOUGLAS COUNTY BANK of DOUGLASVILLE, GA
39. PIEDMONT COMMUNITY BANK of GRAY, GA
40. COLORADO CAPITAL BANK of CASTLE ROCK, CO
Disclaimer:
The content of this web site is for general information purposes only and does not constitute advice. The author tries to provide content that is true and accurate as of the date of writing; however, we give no assurance or warranty regarding the accuracy, timeliness, or applicability of any of the contents. Visitors should not act upon content or information without first seeking appropriate professional advice.
The author accepts no responsibility for and excludes all liability in connection with browsing this Web site, use of information or downloading any materials from it, including but not limited to any liability for errors, inaccuracies, omissions, or misleading or defamatory statements. The information at this Web site might include opinions or views which, unless expressly stated otherwise, are not necessarily those of the author.
All content and information might be changed or updated without notice.
1. FIRST CHOICE COMMUNITY BANK of DALLAS, GA
2. LEGACY BANK of MILWAUKEE, WI
3. THE BANK OF COMMERCE of WOOD DALE, IL
4. BANK OF LAS VEGAS, of LAS VEGAS, NV
5. MID CITY BANK, INC. of OMAHA, NE
6. FIRST NATIONAL BANK OF CENTRAL FLORIDA of WINTER PARK, FL
7. FIRST GUARANTY BANK AND TRUST COMPANY of JACKSONVILLE, FL
8. THE FIRST NATIONAL BANK OF OLATHE of OLATHE, KS
9. MICHIGAN COMMERCE BANK of ANN ARBOR, MI
10. OPTIMUMBANK of PLANTATION, FL
11. MCINTOSH STATE BANK of JACKSON, GA
12. COMMUNITYONE BANK, N.A. of ASHEBORO, NC
13. VALLEY COMMUNITY BANK of SAINT CHARLES, IL
14. THE FIRST NATIONAL BANK OF FLORIDA of MILTON, FL
15. SUNRISE BANK OF ARIZONA of PHOENIX, AZ
16. CORTEZ COMMUNITY BANK of BROOKSVILLE, FL
17. WESTERN SPRINGS NATIONAL BANK AND TRUST of WESTERN SPRINGS, IL
18. PISGAH COMMUNITY BANK of ASHEVILLE, NC
19. HIGH TRUST BANK of STOCKBRIDGE, GA
20. THE ROYAL PALM BANK OF FLORIDA of NAPLES, FL
21. CREEKSIDE BANK of WOODSTOCK, GA
22. FRIENDS BANK of NEW SMYRNA BEACH, FL
23. ALL AMERICAN BANK of DES PLAINES, IL
24. THE FIRST STATE BANK of STOCKBRIDGE, GA
25. CENTRUST BANK, N.A. of NORTHBROOK, IL
26. BARTOW COUNTY BANK of CARTERSVILLE, GA
27. THE PARK AVENUE BANK of VALDOSTA, GA
28. HABERSHAM BANK of CLARKESVILLE, GA
29. FIRST INTERNATIONAL BANK of PLANO, TX
30. PATRIOT BANK OF GEORGIA of CUMMING, GA
31. BUILDERS BANK of CHICAGO, IL
32. SOUTHERN COMMERCE BANK, NA of TAMPA, FL
33. ATLANTIC SOUTHERN BANK of MACON, GA
34. 1ST COMMERCE BANK of NORTH LAS VEGAS, NV
35. SUNRISE BANK of VALDOSTA, GA
36. FIRST COMMERCIAL BANK of TAMPA, FL
37. LANDMARK BANK OF FLORIDA of SARASOTA, FL
38. DOUGLAS COUNTY BANK of DOUGLASVILLE, GA
39. PIEDMONT COMMUNITY BANK of GRAY, GA
40. COLORADO CAPITAL BANK of CASTLE ROCK, CO
Disclaimer:
The content of this web site is for general information purposes only and does not constitute advice. The author tries to provide content that is true and accurate as of the date of writing; however, we give no assurance or warranty regarding the accuracy, timeliness, or applicability of any of the contents. Visitors should not act upon content or information without first seeking appropriate professional advice.
The author accepts no responsibility for and excludes all liability in connection with browsing this Web site, use of information or downloading any materials from it, including but not limited to any liability for errors, inaccuracies, omissions, or misleading or defamatory statements. The information at this Web site might include opinions or views which, unless expressly stated otherwise, are not necessarily those of the author.
All content and information might be changed or updated without notice.
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