United Commercial is operating under a regulatory cease-and-desist order. A filing with the Securities and Exchange Commission said earlier financial reports were inaccurate because fourth-quarter loan losses hadn't been fully recognized.
California Banks With Weakest Loan Quality
Eleven California institutions were included in the list of
Undercapitalized Banks and Thrifts
as of June 30.
There were 14 California banks and thrifts with nonperforming asset ratios that were higher than 10%:
OneWest Bank FSB was formed in March when an investor group purchased the former IndyMac Bank from the FDIC. While OneWest Bank had a relatively high nonperforming-assets ratio of 10.2%, it was strongly capitalized with a risk-based capital ratio of 28.33%, reflecting the FDIC's agreement to share in losses on residential mortgages acquired from the former IndyMac.
Free Bank and S&L Ratings
issues independent and conservative financial-strength ratings on the nation's 8,300 banks, and savings and loans. These are available at no charge on the
Bank & Thrift Ratings Screener
--Reported by Philip van Doorn in Jupiter, Fla.
The writer owns shares in Riverside Banking Co., the holding company for Riverside National Bank of Florida, a former employer.