Bank Financial Information
as of the June 30, 2014 Call Report
Regulatory Enforcement Actions Updated Weekly
The iBank Monitor database has been updated with June 30, 2014 Call Report financial information as well as a re-fresh of all new regulatory enforcement actions and terminations. As a result, the iBank Monitor Watch List improved to 431 banks this week representing $160.1 billion in total assets. The FDIC's June 30, 2014 quarterly report mentioned the existence of 353 "problem" banks, the identity of which have not been publicly disclosed.
While the iBank Monitor Watch List contains 78 more banks than the FDIC's "problem" bank count, the difference is attributable to regulators' long standing delay in coordinating and terminating enforcement actions for banks and their holding companies. The existence of open/non-terminated enforcement actions against a bank or its holding company are automatic triggers for inclusion on the iBank Monitor Watch List.
The total count of iBank Monitor Critical List banks is now 43 with total assets of $18.3 billion, down from 57 banks based on the March 31, 2014 Call Report data. For tenured Critical List banks, the story remains the same - their assets are shrinking, management continues to write off or work out troubled assets, and capital has been depleted in anticipation of being rescued, sold or closed. During the height of the banking crisis the Critical List hovered around 120 banks at any given time, and today the norm has settled to a much lower level.
The change in the current number of Critical List banks is attributable to:
Doral Bank, an $8 billion institution based in San Juan, Puerto Rico is the largest bank to be added to the Critical List in several months. The bank's financial condition has been rocked by mounting problem assets and a significant drop in equity during the second quarter of 2014. Click here for financial summary. There are efforts underway to shed problem assets, however, there appear to be significant legal and political obstacles yet to overcome.
At the other end of the spectrum, the $101 million Lafayette State Bank in Mayo, Florida made a $5 million loan loss provision and $1.8 million in charge-offs in the second quarter which produced a sharp drop in Risk Based Capital to 6.92%. Click here for financial summary. This is the only bank on the Critical List without any regulatory enforcement actions.
For the following five Critical List banks, we have noted positive news that should result in their departure from the List by year end. Click here for Critical List summary.
For comprehensive Watch and Critical List bank reports and schedules, please visit refer to specific website pages.
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