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News Link • Economy - Economics USA

Unofficial Problem Bank List increases to 872 institutions: One in Nine Banks

The Unofficial Problem Bank List underwent significant changes this week from failures and the FDIC releasing its enforcement actions for August 2010. The list finished the week at 872 institutions with assets of $422.4 billion, up from 854 institutions with assets of $416 billion last week. Changes this week include three removals and 21 additions. The removals are the two failures -- Haven Trust Bank Florida ($149 million) and North County Bank ($289 million) and one from an unassisted merger -- Sunrise Bank of Atlanta ($50 million). Most notable among the additions are Lydian Private Bank, Palm Beach, FL ($1.96 billion); Universal Bank, West Covina, CA ($537 million); TruPoint Bank, Grundy, VA ($484 million); First Guaranty Bank and Trust Company of Jacksonville, Jacksonville, FL ($460 million); and First South Bank, Spartanburg, SC ($456 million Ticker: FSBS). Other changes include Prompt Corrective Action Orders issued against Peoples State Bank ($445 million), LandMark Bank of Florida ($320 million), First Arizona Savings, a FSB ($272 million), American Patriot Bank ($108 million), and Idaho First Bank ($82 million). The list just keeps growing.

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