by Calculated Risk on 6/09/2012 07:36:00 PM

This is an unofficial list of Problem Banks compiled only from public sources. (Only US banks).

Here is the unofficial problem bank list for June 8, 2012. (table is sortable by assets, state, etc.)

Changes and comments from surferdude808:

Four failures meant four removals from the Unofficial Problem Bank List. The list stands at 923 institutions with assets of $355.7 billion. A year ago, the list held 1,002 institutions with assets of $417.4 billion. After three weeks off, the FDIC got back to closings leading to the following removal s -- Waccamaw Bank, Whiteville, NC ($533 million Ticker: WBNK); Carolina Federal Savings Bank, Charleston, SC ($54 million); First Capital Bank, Kingfisher, OK ($46 million); and Farmers' and Traders' State Bank, Shabbona, IL ($43 million).

F & M Bank, Edmond, Oklahoma paid a 7.65 percent deposit premium to acquire First Capital Bank. This appears to be the highest deposit premium paid to complete an assisted acquisition during this crisis. Although the FDIC likes to receive a deposit premium when selling a failed bank, buyers have only been willing to pay one in about one-third of the 443 failures since 2008 and in four transactions buyers have bid a discount.. When paid, the average deposit premium is 1.09 percent. Thus, the premium paid by F&M Bank is very high at 4.7 standard deviations above the average. In a few months, the FDIC will release bidding information for First Capital Bank, which should allow some insight if the premium paid F&M Bank was necessary to close the deal. There have been some transactions where bidders have been too aggressive. For instance, in January 2010, United Valley Bank, Cavalier, ND, paid a 7.35 percent deposit premium to acquire the failed Marshall Bank, National Association, Hallock, MN with the next highest bid was a 1.32 percent premium.

Next week, we anticipate the OCC will release its actions through mid-June 2012.

Earlier:
• Summary for Week Ending June 8th
• Schedule for Week of June 10th

And on Spain:
• Eurogroup statement on Spain
• WSJ: Spain Asks EU for Aid For Its Banks
• NY Times: Spain to Accept Rescue From Europe for Its Ailing Banks
• Financial Times: Spain seeks eurozone bail out