by Calculated Risk on 9/21/2013 09:33:00 AM

This is an unofficial list of Problem Banks compiled only from public sources.

Here is the unofficial problem bank list for September 20, 2013.

Changes and comments from surferdude808:

As anticipated, the OCC released its actions through mid-August this week, which led to many changes to the Unofficial Problem Bank List. In all, there were nine removals and one addition that leave the list with 692 institutions and assets of $242.9 billion. It is the first time the list has under 700 institutions since April 2010. A year ago, the list held 878 institutions with assets of $327.4 billion.

Bank of St. Augustine, Saint Augustine, FL ($164 million), found its way off the list by finding a merger partner. Actions were terminated against Far East National Bank, Los Angeles, CA ($1.2 billion); First Community Bank, Santa Rosa, CA ($678 million); CBC National Bank, Fernandina Beach, FL ($399 million); MidSouth Bank, N. A., Dothan, AL ($372 million); First National Bank South, Alma, GA ($309 million); The Camden National Bank, Camden, AL ($110 million); Peoples Community National Bank, Bremen , GA ($73 million); and The National Bank of Harvey, Harvey, ND ($46 million). The banking regulators have picked-up the pace on action terminations this quarter, which are now above any prior quarter in total or removal rate since publication of the first list in 2009. More info will be included in an updated transition matrix next week.

The First National Bank of Russell Springs, Russell Springs, KY ($192 million) was added to the list this week.

Next week, we anticipate the FDIC will release its enforcement action activity through August 2013. There is nothing new to report on the status of banks controlled by Capitol Bancorp, Ltd.

CR Note: The first unofficial problem bank list was published in August 2009 with 389 institutions. Less than two years later the list peaked at 1,002 institutions. Now, more than two years after the peak, the list is down to 692 (the list increased faster than it is decreasing - but it is steadily decreasing as regulators terminate actions and close a few banks).