by Calculated Risk on 12/30/2018 08:21:00 AM

Note: Surferdude808 compiles an unofficial list of Problem Banks compiled only from public sources.

Here is the unofficial problem bank list for December 2018.

Here are the monthly changes and a few comments from surferdude808:

Update on the Unofficial Problem Bank List for December 2018. During the month, the list fell by one to 77 institutions after three removals and two additions. Assets increased by $915 million to $54.8 billion. A year ago, the list held 103 institutions with assets of $20.9 billion.

This month, actions have been terminated against Persons Banking Company, Forsyth, GA ($312 million); The Citizens State Bank, Okemah, OK ($86 million); and Bison State Bank, Bison, KS ($10 million). Additions this month include Patriot Bank, National Association, Stamford, CT ($915 million Ticker: PNBK); and Quontic Bank, Astoria, NY ($407 million).

With it being the end of the fourth quarter, we bring an updated transition matrix to detail how banks are moving off the Unofficial Problem Bank List. Since the Unofficial Problem Bank List was first published on August 7, 2009 with 389 institutions, a total of 1,738 institutions have appeared on a weekly or monthly list since the start of publication. Only 4.4 percent of the banks that have appeared on a list remain today as 1,661 institutions have transitioned through the list. Departure methods include 976 action terminations, 406 failures, 261 mergers, and 18 voluntary liquidations. Of the 389 institutions on the first published list, only 6 or 1.5 percent, are still designated as being in a troubled status more than nine years later. The 406 failures represent 23.4 percent of the 1,738 institutions that have made an appearance on the list. This failure rate is well above the 10-12 percent rate frequently cited in media reports on the failure rate of banks on the FDIC's official list.

Unofficial Problem Bank List
Change Summary
		Number of Institutions	Assets ($Thousands)
Start (8/7/2009)		389	276,313,429
Subtractions
	Action Terminated	179	(68,279,301)
	Unassisted Merger	41	(10,072,112)
	Voluntary Liquidation	5	(10,672,586)
	Failures	158	(186,397,337)
	Asset Change		204,571
Still on List at 12/31/2018		6	1,096,664
Additions after 8/7/2009		71	53,724,357
End (6/30/2018)		77	54,821,021
Intraperiod Removals1
	Action Terminated	797	323,352,219
	Unassisted Merger	220	82,620,807
	Voluntary Liquidation	13	2,515,855
	Failures	248	125,152,210
	Total	1,278	533,641,091
1Institution not on 8/7/2009 or 12/31/2018 list but appeared on a weekly list.