by Calculated Risk on 2/08/2014 08:42:00 AM

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

Here is the unofficial problem bank list for February 7, 2014.

Changes and comments from surferdude808:

Only two removals to report from the Unofficial Problem Bank List this week. The list includes 588 institutions with assets of $195.1 billion, which is down from 820 institutions with assets of $305.0 billion a year ago. Both banks -- GCF Bank, Sewell, NJ ($301 million) and First Community Bank of Crawford County, Van Buren, AR ($67 million) -- found merger partners in order to exit the list. So we did not have a fourth consecutive week with a bank failure.

This week, the Wall Street Journal published an article (Small Banks Face TARP Hit) stating that 27 small banks will have their quarterly TARP dividend doubled next week with another 32 by May 15th. Back on September 27, 2013 we provided the last semi-annual update on banks with outstanding TARP monies on the Unofficial Problem Bank List. A near doubling of the dividend rate will put additional financial pressure on these weak banks. As a result, many will likely need to find a merger partner.