Unofficial Problem Bank list declines to 805 Institutions

Here is the unofficial problem bank list for Mar 8, 2013.

Changes and comments from surferdude808:

The FDIC got back to closing a bank this week and terminated an action. In all, there were three removals this week that leave the Unofficial Problem Bank List at 805 institutions with assets of $296.4 billion. A year ago, the list held 956 institutions with assets of $383.4 billion.

FDIC terminated the action against Bank of the Cascades, Bend, OR ($1.3 billion Ticker: CACB). Mojave Desert Bank, National Association, Mojave, CA ($104 million) merged through an unassisted acquisition with Mission Bank, Bakersfield, CA. As hard as it may be to believe, Georgia lost another bank this week, which is the 85th failure in the state at a cost of $11.4 billion since the on-set of the financial crisis. Frontier Bank, LaGrange, GA ($259 million Ticker: FIEC) failed after being under a Consent Order issued on February 15, 2012.

Next week, we anticipate the OCC will release its actions through mid-February 2013.

Earlier:
Summary for Week Ending March 8th
Schedule for Week of March 10th

Posted in Executive Prospectus, Financial Prospectus

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