Four other banks had negative capital ratios according to preliminary regulatory reports for the second quarter. After Corus, which had $7 billion in total assets, the largest of these was Mainstreet Bank of Forest Lake, Minn., with $459 million.
Undercapitalized Banks and Thrifts
The list of undercapitalized banks is based on preliminary data that's subject to revision. Banks or S&Ls might have raised capital since June. The list also excludes banks and thrifts whose capital ratios meet government standards but are considered undercapitalized because regulators are requiring them to hold additional money.
The list is sorted by state in ascending order by tier 1 leverage ratio:
Source: SNL Financial Inc.
leads the U.S. with 21 banks and thrifts fail since the beginning of 2008. Behind it are
with 14 failures,
with six and Nevada with four.
Large bank holding companies such as
(STI - Get Report)
Fifth Third Bancorp
(FITB - Get Report)
have been buying failed institutions for the past 18 months.
(JPM - Get Report)
acquired Washington Mutual, the largest-ever bank or thrift to fail in the U.S.
Free Financial Strength Ratings for Banks, Thrifts
issues independent and very conservative financial strength ratings on each of the nation's 8,500 banks and savings and loans which are available at no charge on the
Banks & Thrifts Screener
In addition, the Financial Strength Ratings for 4,000 life, health, annuity, and property/casualty insurers are available on the
Insurers & HMOs Screener
The writer owns shares in Riverside Banking Co., the holding company for Riverside National Bank of Florida, of Fort Pierce, a former employer.
-- Reported by Philip van Doorn in Jupiter, Fla