Friday, February 24, 2012

New Top 40 Bank Fails

New to the rankings at number 18, Central Bank of Georgia of Ellaville, Georgia is our first top 40 bank failure of the new quarter. Similar to most recent failures, Central Bank was a smaller bank with approximately $278.9 million in total assets and $266.6 million in total deposits. Frequent purchaser of failed banks in the area, Ameris Bank (703rd ranked) of Moultrie, Georgia agreed to acquire the assets and deposits of the former Central Bank. The deal with the FDIC included a loss-share transaction on $192.8 million of Central Bank of Georgia's assets. The FDIC estimates that the resulting cost to the Deposit Insurance Fund (DIF) will be $67.5 million.


Home Savings of America of Little Falls, Minnesota also closed today. The formerly OTS regulated bank was not ranked due to differences in the required reporting. "The FDIC was unable to find another financial institution to take over the banking operations of Home Savings of America." As a result the approximately $434.1 million in total assets of the bank will be liquidated by the FDIC and the insured deposits will be returned to customers. The FDIC estimates that the cost to the DIF will be $38.8 million.

Thursday, February 23, 2012

Feb. 2012 Top 40

Each quarter The Bank Blog releases a new Top 40 ranking based on the most recent data available from various sources. The current version of the list should be viewed as preliminary, however, as technical changes to the data and other refinements often require minor updates.

In a shortened quarter The Bank Blog's continue to highlight the least stable U.S. Banks was well demonstrated. Of the 40 banks listed, 7 failed. Number 1 ranked Greystone Bank also surrendered their license. Of the surviving 32 banks, 27 remain on the updated list. The Bank Blog would like to caution our readers not to infer that those banks leaving the list are now safe. All five of those banks continue to rank among the weakest 2% of banks. 

Returning banks are listed in bold and newly failed banks are listed in italics.

1. NEW CITY BANK of CHICAGO IL
2. PISGAH COMMUNITY BANK of ASHEVILLE, NC
3. SECURITY BANK, N.A. of NORTH LAUDERDALE, FL
4. CENTRUST BANK, NATIONAL ASSOCIATION of NORTHBROOK, IL
5. PREMIER BANK of WILMETTE IL
6. 1ST COMMERCE BANK of NORTH LAS VEGAS, NV
7. BANK OF LAS VEGAS of LAS VEGAS, NV
8. U.S. CENTURY BANK of MIAMI FL
9. TRUMAN BANK of SAINT LOUIS MO
10. SUNRISE BANK of VALDOSTA, GA
11. MICHIGAN COMMERCE BANK of ANN ARBOR, MI
12. MONTGOMERY BANK & TRUST of AILEY, GA
13. THE PATTERSON BANK of PATTERSON, GA 
14. PALM DESERT NATIONAL BANK of PALM DESERT, CA
15. THE ROYAL PALM BANK OF FLORIDA of NAPLES, FL
16. DUPAGE NATIONAL BANK of WEST CHICAGO
17. FIRSTSECURE BANK AND TRUST CO. of PALOS HILLS, IL
18. CENTRAL BANK OF GEORGIA of ELLAVILLE, GA
19. EUROBANK of CORAL GABLES, FL
20. FARMERS & TRADERS STATE BANK of SHABBONA, IL
21. GEORGIA TRUST BANK of BUFORD, GA
22. OPTIMUMBANK of PLANTATION, FL
23. SOUTHERN COMMERCE BANK, N.A. of TAMPA, FL
24. FIRST CAPITAL BANK of GUTHRIE, OK 
25. BEACH COMMUNITY BANK of FORT WALTON BEACH, FL
26. HARVEST BANK OF MARYLAND of ROCKVILLE, MD
27. ROCKY MOUNTAIN BANK of WILSON, WY
28. BANK OF NAPLES of NAPLES, FL
29. THE LEADERS BANK of OAK BROOK, IL
30. GULFSOUTH PRIVATE BANK of DESTIN, FL
31. FRONTIER BANK of LA GRANGE, GA
32. AMERICAN ENTERPRISE BANK of BUFFALO GROVE IL
33. COMMUNITY SOUTH BANK of PARSONS, TN
34. CENTRAL ARIZONA BANK of SCOTTSDALE, AZ
35. TRANSCAPITAL BANK of SUNRISE, FL
36. HOMETOWN NATIONAL BANK of LONGVIEW WA
37. PUTNAM STATE BANK of PALATKA, FL
38. FIDELITY BANK of FLORIDA, N.A. of MERRITT ISLAND, FL
39. IDAHO BANKING COMPANY of BOISE ID
40. INDEPENDENT BANKERS' BANK OF FLORIDA of LAKE MARY, FL

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Two Heartland Banks Fail (originally posted Feb. 10th)

108th-ranked Charter National Bank and Trust of Hoffman Estates, Illinois failed this week and was taken over by Barrington Bank & Trust Company, National Association (2073rd) of Barrington, Illinois. Barrington Bank assumed all of the approximately $89.5 million in total deposits and acquired $93.9 million in total assets and. They also entered into a loss-share transaction with the FDIC on $72.1 million of the former Charter National Bank and Trust's assets. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $17.4 million.

Formerly OTS regulated and un-ranked SCB Bank of Shelbyville, Indiana also closed today. The approximately $182.6 million in total assets and $171.6 million in total deposits were assumed by First Merchants Bank National Association of Muncie, Indiana.  First Merchant's, a stable 3981st on our rankings, has not previously acquired any failed banks. The FDIC estimates that the cost to the DIF  will be $33.9 million.