by Calculated Risk on 6/21/2014 08:19:00 AM

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

Here is the unofficial problem bank list for June 20, 2014.

Changes and comments from surferdude808:

A couple bank failures and an update from the OCC on its enforcement action activities contributed to several changes to the Unofficial Problem Bank List. In all, there were six removals that push the list count down to 488 institutions with assets of $152.6 billion. In comparison, there were 751 institutions with assets of $273 billion on the list a year ago.

The OCC terminated actions against Eagle National Bank, Upper Darby, PA ($190 million); The First National Bank and Trust Company of Broken Arrow, Broken Arrow, OK ($189 million); Lee County Bank & Trust, National Association, Fort Madison, IA ($148 million); and First National Bank Northwest Florida, Panama City, FL ($108 million).

The failure plagued states of Florida and Illinois experienced a failure each this Friday. The River Valley Bancorp, Inc., Davenport, IA, saw its two banking subsidiaries that each operate under the name Valley Bank fail. The larger Valley Bank with assets of $456 million was located in Moline, Illinois, while its smaller sister with $82 million of assets was located in Fort Lauderdale, Florida. Since the on-set of the Great Recession, there have been 71 failures in Florida and 59 in Georgia. Both states only trail Georgia which has an astonishing 87 failures but none so far this year.

Next week we anticipate the FDIC will release an update on its enforcement action activities. With it being the last Friday of the quarter, we will provide an update on transition matrix.

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 494.