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Financial Regulation News | Mortgage Regulations
Bank and mortgage regulators, regulations and regulatory actions. Coverage of regulatory legislation and testimony.
Ailing Bank List

First-quarter regulatory analysis

May 18, 2009

By staff

Regulatory Reports
Q1 2009 Q4 2008 Q3 2008

complete listing of Q1 orders by company

Regulatory actions against U.S. financial institutions increased during the latest quarter. Many of the banks that faced actions also face possible failure.

During the first quarter, 180 regulatory actions taken against financial institutions and mortgage lenders were tracked by The number of actions was up from a revised 164 during the fourth-quarter 2008.

Regulatory Actions by Quarter
Q1 2009 Q4 2008
Q3 2008
180 164 115

First-quarter cease-and-desist orders numbered 65, up from the prior period's 58. Institutions that are seized by bank regulators often face cease-and-desist orders prior to their closing.

Formal agreements were reached with 46 institutions, climbing from the fourth quarter's 34, while 33 civil money penalties were issued in the first quarter, falling from 38. Regulators issued 19 removal-and-prohibition orders, lower than 25 in the second quarter.

Type of Order Q1 2009 Q4 2008 Q3 2008
Approval of Application to Modify Order 1 0 0
Cease-and-Desist 65 58 27
Civil Money Penalty 33 38 41
Consent Order 0 0 1
Final 2 1 1
Formal Agreement 46 34 18
Modification of Order 0 0 1
Order of Assessment 2 1 0
Prohibition 5 3 1
Prompt Corrective Action 3 0 2
Removal-and-Prohibition 19 25 21
Restraining 1 0 0
Stipulation-and-Consent Order 0 1 0
Stock Listing 2 1 0
Subpoena 0 2 0
Termination of Insurance 1 0 2
TOTAL 180 164 115

Institutions that faced first-quarter regulatory actions and subsequently failed include Alliance Bank, America West Bank, Cape Fear Bank, Corn Belt Bank and Trust Co., First Bank of Beverly Hills, Firstcity Bancorp Inc., New Frontier Bank, Security Savings Bank, Sherman County Bank and Silverton Bank, N.A.

The majority of reported actions, 102, were taken by the Federal Deposit Insurance Corporation. Activity rose from 101 action in the prior period.

First-quarter regulatory actions taken by the Office of the Comptroller of the Currency edged up to 38 up from the fourth-quarter's 36.

Over at the Federal Reserve, 32 orders were reported, climbing from 23.

Regulator Q1 2009 Q4 2008 Q3 2008
Department of Justice 0 2 0
Federal Deposit Insurance Corporation 102 101 67
Federal Reserve Board 32 23 8
Federal Trade Commission 1 0 0
Nasdaq Stock Market 1 1 0
National Credit Union Administration 5 0 0
NYSE Alternext US LLC 1 0 0
Office of the Comptroller of the Currency 38 36 35
Office of Thrift Supervision 0 0 1
Oregon Division of Corporate Securities 0 0 3
Securities and Exchange Commission 0 1 0
Washington Department of Financial Institutions 0 0 1
TOTAL 180 164 115

complete listing of Q1 orders by company

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