Unofficial Problem Bank list declines to 499 Institutions

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

Here is the unofficial problem bank list for May 23, 2014.

Changes and comments from surferdude808:

Three removals this week lower the Unofficial Problem Bank List to 499 institutions with assets of $154.9 billion. A year ago the list held 767 institutions with assets of $283.7 billion.

Actions were terminated against First Bank, Creve Coeur, MO ($5.8 billion) and Parke Bank, Sewell, NJ ($794 million Ticker: PKBK). Somewhat surprisingly in front of the Memorial Day holiday, the FDIC closed Columbia Savings Bank, Cincinnati, OH ($38 million), which had been operating under a formal enforcement action since 2007. The failure is the eight this year compared to 13 failures at the 20th week last year.

Next week the FDIC is expected to release its enforcement action activity through April and release industry results and an updated Official Problem Bank List as of the first quarter.

CR Note: The first unofficial problem bank list was published in August 2009 with 389 institutions. The list peaked at 1,002 institutions on June 10, 2011, and is now down to 499 (just under half the peak).