At the end of June, five U.S. banks and thrifts posted an adjusted Texas ratio above 100%, down from six in the first quarter and 13 in the year-ago quarter.
Meanwhile, the median adjusted Texas ratio for the U.S. banking industry fell to 3.9% as of June 30, down from 4.3% at March 31 and 5.4% in the year-ago quarter.
Grand Chain, Ill.-based Grand Rivers Community Bank again posted the highest adjusted Texas ratio in the country at 240.6% as of June 30, a 4.3-percentage-point increase quarter over quarter.
In April, Eldorado, Ill.-based Legence Bank, a unit of First Eldorado Bancshares Inc., agreed to acquire the Shawneetown branch of Grand Rivers Community Bank as well as Kotner Title & Abstract LLC from Main Street Bancshares Inc., the holding company of Grand Rivers Community Bank.
The FDIC recently issued a notice against the chairman of Grand Rivers Community Bank, Frank William Bonan II, that alleged he engaged in unsafe or unsound practices that may have caused the bank to suffer financial loss or other damage. Grand Rivers Community Bank did not respond to a request for comment.
Ashton State Bank had the second-highest adjusted Texas ratio at 129.1%, a quarter-over-quarter improvement of 6.4 percentage points. The Ashton, Neb.-based bank's tangible equity increased 7.6% in the second quarter.