by Calculated Risk on 6/27/2015 09:54:00 PM

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

Here is the unofficial problem bank list for June 2015.

Changes and comments from surferdude808:

Update on the Unofficial Problem Bank List for June 2015. During the month, the list fell from 324 institutions to 309 after 16 removals and one addition. Assets dropped by $1.4 billion to an aggregate $89.8 billion. A year ago, the list held 468 institutions with assets of $149.2 billion.

Actions have been terminated against North American Savings Bank, F.S.B., Grandview, MO ($1.3 billion); American Bank, Rockville, MD ($416 million); First Utah Bank, Salt Lake City, UT ($354 million); Regent Bank, Davie, FL ($349 million Ticker: PZBW); Grayson National Bank, Independence, VA ($332 million); Oregon Pacific Banking Company dba Oregon Pacific Bank, Florence, OR ($187 million); Cornerstone National Bank, Easley, SC ($144 million Ticker: CTOT); Independent Banker's Bank of Florida, Lake Mary, FL ($143 million); First National Bank of Crossett, Crossett, AR ($143 million Ticker: GSON); Boundary Waters Bank, Ely, MN ($112 million Ticker: NASB); The First National Bank of Le Center, Le Center, MN ($81 million); Plaza Bank, Seattle, WA ($75 million Ticker: ABKH); Heritage Bank, Topeka, KS ($49 million); First State Bank of Swanville, Swanville, MN ($28 million Ticker: ORBP); and Commonwealth Bank, FSB, Mount Sterling, KY ($19 million).

Prime Pacific Bank, National Association, Lynnwood, WA ($123 million) found its way off the list by merging with Town Square Bank, Ashland, KY.

The addition this month was Harvard Savings Bank, Harvard, IL ($161 million).

With it being the end of the second quarter, we bring an update on the transition matrix. Since the Unofficial Problem Bank List was first published on August 7, 2009 with 389 institutions, a total of 1,694 institutions have appeared on the list at some point. There have been 1,385 institutions have come and gone on the list. Departure methods include 760 action terminations, 392 failures, 219 mergers, and 14 voluntary liquidations. The second quarter of 2015 started with 349 institutions on the list, so the 36 action terminations during the quarter reduced the list by 10.3 percent. Although it is easier to achieve a high removal percentage given the smaller overall list count, the 10.3 percent quarterly removal rate is the third fastest since the list has been published. Of the 389 institutions on the first published list, 40 still remain nearly six years later. The 392 failures are 23.1 percent of the 1,694 institutions that have appeared on the list. This failure rate is well above the 10-12 percent rate frequently cited in media reports on the failure rate of banks on the FDIC's official list.

Unofficial Problem Bank List
Change Summary
		Number of Institutions	Assets ($Thousands)
Start (8/7/2009)		389	276,313,429
Subtractions
	Action Terminated	153	(58,436,369)
	Unassisted Merger	38	(9,059,178)
	Voluntary Liquidation	4	(10,584,114)
	Failures	154	(184,269,578)
	Asset Change		(3,635,297)
Still on List at 6/30/2015		40	10,328,893
Additions after 8/7/2009		269	77,127,497
End (6/30/2015)		309	87,456,390
Intraperiod Deletions1
	Action Terminated	607	256,624,516
	Unassisted Merger	181	76,391,195
	Voluntary Liquidation	10	2,324,142
	Failures	238	119,574,853
	Total	1,030	452,733,558
1Institution not on 8/7/2009 or 6/30/2015 list but appeared on a weekly list.