Friday, January 13, 2012
No New Failures
As of 6:25 pm est there have been no new failures. The Bank Blog will be updated should new information come in.
Friday, January 6, 2012
A Stable Period for Banks?
Another week has passed with no failures. While much of this may be attributed to the holiday season, there have been only two regulatory shutdowns since Thanksgiving. That compares to 10 and 17 during the comparable period in 2010 and 2009 respectively. Whether this means an end to the high pace of shutdowns remains to be seen. In the most recent Quarterly Banking Profile, 844 banks remained on the undisclosed list of "problem institutions." This is off only slightly from the 860 banks listed at the same time last year. Are the problems more minor? Are they getting more attention and repairs or are the regulators more willing to wait it out? We will let our readers decide that for themselves.
Friday, December 30, 2011
No Failures Expected Today
Despite the hundreds of bank failures each year since 2008, there have never been any banks closed in the last two weeks of the year. As a result, the Bank Blog does not expect there to be any regulatory actions taken against banks today.
Friday, December 23, 2011
No New Failures
Leading into the federal holidays, there have been no bank closures as of 6:05 pm EST.
Friday, December 16, 2011
First Failures in Four Weeks
After an unprecedented calm in the storm of failed banks, regulators have shut down two banks this week. The first bank to fail in December was the 18th ranked Premier Community
Bank of the Emerald Coast headquartered in Crestview, Florida. Summit Bank, National Association (5994th) of Panama City, Florida has agreed to assume
all of the deposits of Premier Community Bank of the Emerald Coast. Premier Community Bank had approximately $126.0 million in total assets and $112.1
million in total deposits. The FDIC and Summit Bank, National Association entered into a
loss-share transaction on $98.0 million of Premier Community Bank of the
Emerald Coast's assets. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF)
will be $31.2 million.
The second bank to fail this week was 12th ranked Western National Bank of Phoenix, Arizona. Western National Bank was acquired by Washington Federal of Seattle, Washington. As of September 30, 2011, Western National Bank had approximately $162.9 million in total assets and $144.5 million in total deposits. In addition to assuming all of the deposits of the failed bank, Washington Federal agreed to purchase essentially all of the assets. The estimated cost to the DIF will be $37.6 million.
The second bank to fail this week was 12th ranked Western National Bank of Phoenix, Arizona. Western National Bank was acquired by Washington Federal of Seattle, Washington. As of September 30, 2011, Western National Bank had approximately $162.9 million in total assets and $144.5 million in total deposits. In addition to assuming all of the deposits of the failed bank, Washington Federal agreed to purchase essentially all of the assets. The estimated cost to the DIF will be $37.6 million.
Tuesday, November 29, 2011
December 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, 11 failed. Of the surviving 29 banks, 24 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. Four of those five banks continue to rank among the weakest 110 banks. The final bank, First Security Bank of Nevada has received a capital infusion of $14 million and now ranks among the most sound banks. In all, banks that are or have been ranked on prior lists that have not failed still remain in the top 1.5% in terms of risk.
Returning banks are listed in bold and newly failed banks are listed in italics.
1. GREYSTONE BANK of RALEIGH, NC
2. PISGAH COMMUNITY BANK of ASHEVILLE, NC
3. FIRST GUARANTY BANK AND TRUST COMPANY of JACKSONVILLE, FL
4. BANK OF LAS VEGAS of LAS VEGAS, NV
5. FIRST CAPITAL BANK of GUTHRIE, OK
6. CENTRAL FLORIDA STATE BANK OF BELLEVIEW, FL
7. COMMUNITYONE BANK, N.A. of ASHEBORO, NC
8. CENTRUST BANK, NATIONAL ASSOCIATION of NORTHBROOK, IL
9. SECURITY BANK, N.A. of NORTH LAUDERDALE, FL
10. 1ST COMMERCE BANK of NORTH LAS VEGAS, NV
11. OPTIMUMBANK of PLANTATION, FL
12. WESTERN NATIONAL BANK of PHOENIX, AZ
13. THE FIRST STATE BANK of STOCKBRIDGE, GA
14. TENNESSEE COMMERCE BANK of FRANKLIN, TN
15. SUNRISE BANK of VALDOSTA, GA
16. MICHIGAN COMMERCE BANK of ANN ARBOR, MI
17 PALM DESERT NATIONAL BANK of PALM DESERT, CA
18 PREMIER COMMUNITY BANK of THE EMERALD CO of CRESTVIEW, FL
19. THE ROYAL PALM BANK OF FLORIDA of NAPLES, FL
20. PREMIER BANK of WILMETTE IL
21. NEW CITY BANK of CHICAGO IL
22. AMERICAN METRO BANK of CHICAGO IL
23. U.S. CENTURY BANK of MIAMI FL
24. BANK OF NAPLES of NAPLES, FL
25. HARVEST BANK OF MARYLAND of ROCKVILLE, MD
26. MONTGOMERY BANK & TRUST of AILEY, GA
27. DOUGLAS COUNTY BANK of DOUGLASVILLE, GA
28. ROCKY MOUNTAIN BANK of WILSON, WY
29. GEORGIA TRUST BANK of BUFORD, GA
30. DUPAGE NATIONAL BANK of WEST CHICAGO
31. FIDELITY BANK of FLORIDA, N.A. of MERRITT ISLAND, FL
32. THE LEADERS BANK of OAK BROOK, IL
33. TRUMAN BANK of SAINT LOUIS MO
34. COVENANT BANK & TRUST of ROCK SPRING GA
35. HOMETOWN NATIONAL BANK of LONGVIEW WA
36. SOUTHERN COMMERCE BANK, N.A. of TAMPA, FL
37. AMERICAN ENTERPRISE BANK of BUFFALO GROVE IL
38. PATRIOT BANK MINNESOTA of FOREST LAKE MN
39. SUNRISE BANK OF ARIZONA of PHOENIX AZ
40. IDAHO BANKING COMPANY of BOISE ID
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.
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, 11 failed. Of the surviving 29 banks, 24 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. Four of those five banks continue to rank among the weakest 110 banks. The final bank, First Security Bank of Nevada has received a capital infusion of $14 million and now ranks among the most sound banks. In all, banks that are or have been ranked on prior lists that have not failed still remain in the top 1.5% in terms of risk.
Returning banks are listed in bold and newly failed banks are listed in italics.
1. GREYSTONE BANK of RALEIGH, NC
2. PISGAH COMMUNITY BANK of ASHEVILLE, NC
3. FIRST GUARANTY BANK AND TRUST COMPANY of JACKSONVILLE, FL
4. BANK OF LAS VEGAS of LAS VEGAS, NV
5. FIRST CAPITAL BANK of GUTHRIE, OK
6. CENTRAL FLORIDA STATE BANK OF BELLEVIEW, FL
7. COMMUNITYONE BANK, N.A. of ASHEBORO, NC
8. CENTRUST BANK, NATIONAL ASSOCIATION of NORTHBROOK, IL
9. SECURITY BANK, N.A. of NORTH LAUDERDALE, FL
10. 1ST COMMERCE BANK of NORTH LAS VEGAS, NV
11. OPTIMUMBANK of PLANTATION, FL
12. WESTERN NATIONAL BANK of PHOENIX, AZ
13. THE FIRST STATE BANK of STOCKBRIDGE, GA
14. TENNESSEE COMMERCE BANK of FRANKLIN, TN
15. SUNRISE BANK of VALDOSTA, GA
16. MICHIGAN COMMERCE BANK of ANN ARBOR, MI
17 PALM DESERT NATIONAL BANK of PALM DESERT, CA
18 PREMIER COMMUNITY BANK of THE EMERALD CO of CRESTVIEW, FL
19. THE ROYAL PALM BANK OF FLORIDA of NAPLES, FL
20. PREMIER BANK of WILMETTE IL
21. NEW CITY BANK of CHICAGO IL
22. AMERICAN METRO BANK of CHICAGO IL
23. U.S. CENTURY BANK of MIAMI FL
24. BANK OF NAPLES of NAPLES, FL
25. HARVEST BANK OF MARYLAND of ROCKVILLE, MD
26. MONTGOMERY BANK & TRUST of AILEY, GA
27. DOUGLAS COUNTY BANK of DOUGLASVILLE, GA
28. ROCKY MOUNTAIN BANK of WILSON, WY
29. GEORGIA TRUST BANK of BUFORD, GA
30. DUPAGE NATIONAL BANK of WEST CHICAGO
31. FIDELITY BANK of FLORIDA, N.A. of MERRITT ISLAND, FL
32. THE LEADERS BANK of OAK BROOK, IL
33. TRUMAN BANK of SAINT LOUIS MO
34. COVENANT BANK & TRUST of ROCK SPRING GA
35. HOMETOWN NATIONAL BANK of LONGVIEW WA
36. SOUTHERN COMMERCE BANK, N.A. of TAMPA, FL
37. AMERICAN ENTERPRISE BANK of BUFFALO GROVE IL
38. PATRIOT BANK MINNESOTA of FOREST LAKE MN
39. SUNRISE BANK OF ARIZONA of PHOENIX AZ
40. IDAHO BANKING COMPANY of BOISE ID
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.
Friday, November 25, 2011
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