The Unofficial Problem Bank List grew by more than five percent this week as the FDIC released its enforcement actions for July 2010. This week, there were 28 additions and 5 removals. Also, the list was updated to reflect assets as of the second quarter. For institutions on the list since the first quarter, aggregate assets declined by $13.9 billion. With these changes, the Unofficial Problem Bank List includes 840 institutions with aggregate assets of $410.3 billion.
Removals include First National Bank and Trust of Syracuse ($58 million), Town Center Bank ($40 million), and Peoples State Bank ($26 million), which were involved in unassisted mergers during July. Other removals from action termination include Independence Bank ($352 million) and Darien Rowayton Bank ($107 million).
Among the 28 additions are TIB Bank, Naples, FL ($1.7 billion); CB&S Bank, Inc., Russellville, AL ($1.3 billion); First Bank and Trust, New Orleans, LA ($944 million); Citizens Bank of Mukwonago, Mukwonago, WI ($627 million); and First Chatham Bank, Savannah, GA ($596 million). Geographically, the additions include 5 institutions from Illinois, 4 from Florida, and 3 from Minnesota.
Next week, the FDIC likely will release the Official Problem Bank List as of June 30th.
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