Unofficial Problem Bank list declines to 743 Institutions

This is an unofficial list of Problem Banks compiled only from public sources.

Here is the unofficial problem bank list for July 5, 2013.

Changes and comments from surferdude808:

Not many fireworks to report with the Unofficial Problem Bank List this week. The only changes are removals through unassisted mergers. After removal, the list stands at 743 institutions with assets of $271.5 billion. A year ago, the list held 913 institutions with assets of $353.4 billion.

The FDIC and the State Banking Department allowed the Metropolitan Bank Group, Inc., Chicago IL to merge its problem banks into its lead bank -- North Community Bank, Chicago, IL ($789 million), which has been operating under an enforcement action since 2011 that was recently modified in May 2013. The subsidiaries merged were Metrobank, Berwyn, IL ($622 million); Archer Bank, Chicago, IL ($469 million); Plaza Bank, Norridge, IL ($327 million); and Oswego Community Bank, Oswego, IL ($194 million). Other banks finding merger partners were The Bank of Southern Connecticut, New Haven, CT ($121 million) and Nevada National Bank, Las Vegas, NV ($52 million).

Next week will likely be quiet unless the FDIC gets back in the closing business after taking the past four weeks off.

Yesterday on the employment report:
• June Employment Report: 195,000 Jobs, 7.6% Unemployment Rate
• Employment Report: More Hiring, Wages Up, Still Weak Labor Market