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More Banks Join Watch List

NEW YORK (TheStreet) -- Now that the full set of second-quarter regulatory data is available, six more banks and thrifts have joined TheStreet's Watch List of undercapitalized institutions.

The list is based on second-quarter regulatory data supplied by SNL Financial on September 7 for the nation's 7,800 banks and savings and loan associations. Removing any failed banks from the list, 158 were undercapitalized, according to the regulatory guidelines that apply to most institutions.

The institutions joining the list include:

  • First Chicago Bank & Trust of Chicago.

  • Inter Savings Bank, FSB of Maple Grove, Minn.

  • Security Savings Bank, FSB of Olathe, Kan.

  • Maritime Savings Bank of West Allis, Wis.

  • Liberty Federal Savings Bank of Enid, Okla.

  • Family Federal Savings Bank of Illinois, of Cicero, Ill.
  • Click the link below to see the full list:

    >>>Bank Watch List

    Most banks and thrifts need to maintain Tier 1 leverage, Tier 1 risk-based and total risk-based capital ratios of at least 5%, 6% and 10% to be considered well-capitalized under regulatory guidelines. Some trust banks carry lower capital requirements. The ratios need to be at least 4%, 4%, and 8% for most to be considered adequately capitalized.

    Ongoing Bank Failure Coverage

    All bank and thrift failures since the beginning of 2008 are detailed in TheStreet.com's revamped interactive bank failure map:

    The bank failure map is color-coded, with the states having the greatest number of failures highlighted in dark grey, and states with no failures in light green. By moving your mouse over a state you can see its combined 2008-2010 totals. Then click the state to open a detailed map pinpointing the locations and providing additional information for each bank failure.

    Since the previous list based on preliminary second-quarter data was published on August 11, nine banks and thrifts have failed, including eight that were included on the Watch List. The largest failure over the past month was ShoreBank of Chicago, which was shut down on Aug. 20 by state regulators on August 20.

    Several publicly traded bank holding companies have acquired failed institutions over the past month:

    CenterState Banks of Florida (CSFL) purchased Community National Bank at Bartow and Independent National Bank of Ocala, both of Florida, from the Federal Deposit Insurance Corporation on August 20.

    PacWest Bancorp (PACW) acquired Los Padres Bank of Solvang, Calif.

    Westamerica Bancorporation (WABC) picked up Sonoma Valley Bank of Sonoma, Calif.

    First Midwest Bancorp (FMBI) purchased Palos Bank and Trust of Palos Heights, Ill.

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    -- Written by Philip van Doorn in Jupiter, Fla.



    >To contact the writer of this article, click here: Philip van Doorn.

    >To follow the writer on Twitter, go to http://twitter.com/PhilipvanDoorn.

    >To submit a news tip, send an email to: tips@thestreet.com.

    -- Written by Philip van Doorn in Jupiter Fla.

    Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.

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