The FDIC classified 305 banks with $220 billion in assets as “problem” lenders as of March 31, rising from 252 with $159 billion in assets in the fourth quarter, the agency said today without naming any institutions. The FDIC said its insurance fund slumped 25 percent in the period.
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Regulators have taken over 36 lenders this year, including BankUnited Financial Corp. in Florida on May 21 and Silverton Bank of Atlanta on May 1, which combined cost the FDIC’s deposit insurance fund $6.2 billion. Twenty-one banks collapsed in the first quarter compared with 25 that failed in 2008, as the pace of failures accelerated amid the worst financial crisis since the Great Depression.
U.S. ‘Problem’ Banks Rise to 305, Highest Since 1994, FDIC Says - Bloomberg.com
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