Wednesday, September 10, 2008

Wachovia NOT on List of "Problem Banks"

Since I always seem to post bad news on Wachoiva, here's some good news from SeekingAlpha.com:


The FDIC won't say which banks are in its problem list. However, based on the
total assets of these institutions, we know which banks are NOT on the list. The
total assets is $78 billion with $32 billion coming from IndyMac Bank which
failed in July. That leaves $46 billion for the other problem banks. Below are
banks that can't be on the list since their assets are over $46 billion.
However, it should be noted that IndyMac failed and it was not on the problem
list at the end of the first quarter.


Wachovia: $671 billion (FDIC source)
WaMu: $307 billion (FDIC source)
National City: $151 billion (FDIC source)
KeyBank: $98 billion (FDIC source)

The following banks are under $46 billion in
assets, however, with a total of 117 banks on the problem list, there are
probably not too many banks with assets between $10 to $20 billion on the
list.


Zions: $20.2 billion (FDIC source)
Flagstar: $14.6 billion (FDIC source)
BankUnited: $14.2 billion (FDIC source)
Corus: $9.0 billion (FDIC source)

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