by Calculated Risk on 7/07/2012 06:32:00 PM

Note: The FDIC's official problem bank list is comprised of banks with a CAMELS rating of 4 or 5, and the list is not made public. (CAMELS is the FDIC rating system, and stands for Capital adequacy, Asset quality, Management, Earnings, Liquidity and Sensitivity to market risk. The scale is from 1 to 5, with 1 being the strongest.)

As a substitute for the CAMELS ratings, surferdude808 is using publicly announced formal enforcement actions, and also media reports and company announcements that suggest to us an enforcement action is likely, to compile a list of possible problem banks in the public interest.

So this is an unofficial list of Problem Banks compiled only from public sources. (And only US banks).

Here is the unofficial problem bank list for July 6, 2012. (table is sortable by assets, state, etc.)

Changes and comments from surferdude808:

Changes to the Unofficial Problem Bank List this week were limited to four removals. Afterward, the list holds 913 institutions with assets of $353.4 billion. A year ago, the list hit its high at 1,004 institutions with assets of $418.8 billion.

There were three action terminations -- First Community Bank, National Association, Lexington, SC ($602 million Ticker: FCCO); Profinium Financial, Inc., Truman, MN ($307 million); and Solera National Bank, Lakewood, CO ($146 million Ticker: SLRK).

The other removal was the failed Montgomery Bank & Trust, Ailey, GA ($174 million), which is the 80th bank to fail in Georgia since August 2008. This failure was costly as FDIC estimated the loss at 75.2 million or 43.3 percent of MB&T's assets. There is some intrigue with the failure as a director apparently has gone missing with $17 million of the bank's monies according to the Wall Street Journal

On Tuesday, the U.S. attorney's office in New York announced that missing director Aubrey Lee Price has been charged with wire fraud involving the embezzlement of $17 million from the bank. After telling upper management that he was investing in U.S. Treasury securities, Mr. Price wired bank funds to accounts he controlled and prepared falsified statements to cover his tracks, the federal complaint said. The banker has been missing since at least June 16. He vanished after writing friends to tell them he had lost large amounts of client funds on trades and wanted to kill himself, authorities said. Investigators say Mr. Price, 46 years old, was last seen boarding a ferry in Key West, Fla., bound for Fort Myers, Fla. He had "previously stated that he owns real estate in Venezuela" and "may own a boat that would be large enough to travel to Venezuela from Florida," the complaint says.

There are 67 banks in Georgia still on the Unofficial Problem Bank List, so there is a good chance the state could experience 100 failures during this banking crisis. Next week, we anticipate the OCC will release its enforcement actions through mid-June 2012.

Earlier:
• Summary for Week Ending July 6th
• Schedule for Week of July 8th