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June 2019: Unofficial Problem Bank list increased to 76 Institutions, Q2 2019 Transition Matrix
DISCLAIMER: This is an unofficial list, the information is from public sources and while deemed to be reliable is not guaranteed. No warranty or representation, expressed or implied, is made as to the accuracy of the information contained herein and same is subject to errors and omissions. This is not intended as investment advice.
the compiler of this report has always been very reliable with these, disclaimer is his @ this(calculated risk) site.
Here is the unofficial problem bank list for June 2019.
https://cr4re.com/PBLJune2019.html
Some color from pepe
In the lead up to, and after, the 2008 event it became rather comical watching the system try and spin the issues surrounding the banking system that most, who paid attention, knew about and had seen several years prior. The FRB would put out a list of banks that "failed" however they were never failed in the traditional way. What they did was 'marry' up two institutions together and take the good assets and place those in the remains of the two banks they performed the shotgun wedding on. This was done so that the FRB never had to pay out on FDIC insurance. The bad assets were sucked up by the FRB or in some cases just left in both places. This list or actions were a weekly habbening. It became known in the trading circles as "BFF" or bank failure friday's. But, as mentioned, they were never actual failures as defined by the FRB.
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Update on the Unofficial Problem Bank List for June 2019. During the month, the list increased by three to 76 institutions after a removal and three additions. Assets changed by a nominal $322 million to $55 billion. A year ago, the list held 92 institutions with assets of $60 billion.
This month, the action against First Southern Bank (f/k/a The Patterson Bank), Patterson, GA ($123 million) was terminated. Additions this month included The Farmers Bank, Carnegie, OK ($121 million); Home Bank of Arkansas, Portland, AR ($76 million); and State Bank, Green River, WY ($29 million). Also, thanks to a reader that identified an institution not included within the list – CornerstoneBank, Atlanta, GA ($219 million), that has been operating under a Consent Order since 2012.
With the conclusion of the second quarter, we bring an updated transition matrix to detail how banks are transitioning off the Unofficial Problem Bank List. (See Cap#2) Since the Unofficial Problem Bank List was first published on August 7, 2009 with 389 institutions, 1,747 institutions have appeared on a weekly or monthly list since the start of publication. Only 4.2 percent of the banks that have appeared on a list remain today as 1,671 institutions have transitioned through the list. Departure methods include 984 action terminations, 406 failures, 262 mergers, and 19 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 23.3 percent of the 1,747 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.
https://www.calculatedriskblog.com/2019/06/june-2019-unofficial-problem-bank-list.html?
thank you for keeping our POTUS/family/team safe
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