- The lists are based on preliminary data: S&Ls have filed their thrift financial reports with the OTS and banks have filed their call reports with the Federal Deposit Insurance Corp., which our data provider, Highline Financial, obtains from the agencies. The data was not yet finalized when we downloaded it on Feb. 17. This data is often updated before it is finalized.
- The data is for the S&Ls and banks themselves, not holding companies.
- An S&L or bank on the list may have raised capital since Dec. 31: Most institutions with capital concerns are trying very hard to raise capital any way they can. Some on the list may have raised significant capital privately since filing their Dec. 31 call reports. If your S&L or bank is on either of these lists, you should determine if you have any deposits that exceed the FDIC's insurance limits and consider discussing the situation with the institution.
Update: Undercapitalized BanksTheStreet.com's partial list of 40 undercapitalized banks has changed since we published our Feb. 6 report, based on preliminary call report data downloaded from Highline Financial. Two of the banks, County Bank of Merced, Calif. and FirstBank Financial Services of McDonough, Ga., failed later that same day. Another undercapitalized bank, Alliance Bank of Culver City, Calif., also failed on Feb. 6. Alliance was not on the undercapitalized list because its preliminary year-end call report data was not available on Dec. 5. Two more undercapitalized banks from the preliminary list failed on Feb. 13: Riverside Bank of the Gulf Coast of Cape Coral, Fla., and Corn Belt Bank & Trust of Pittsfield, Ill. Another institution on the original list, Warren Bank of Warren, Mich. no longer appears on the list of undercapitalized banks, since its call report numbers were revised. Warren Bank's revised tier-1 leverage and risk-based capital ratios as of Dec. 31 were 5.22% and 8.04%, putting it in the adequately capitalized category. Here's the updated list of undercapitalized banks as of Dec. 31. Once again, we're excluding one bank that only operates as a trust bank, with no deposits or loans, and a very small Texas bank that is just a "shell" at this point, with no deposits, no loans and hardly any assets, since the bank charter is being transferred.