At the end of September, nine U.S. banks and thrifts posted an adjusted Texas ratio above 100%, down from 13 in the second quarter and 17 in the year-ago quarter.

Fort Walton Beach, Fla.-based First City Bank of Florida again posted the highest adjusted Texas ratio in the country, followed by Kansas-based Almena State Bank. The banks failed Oct. 16 and Oct. 23, respectively.

Cecil Bank had an adjusted Texas ratio of 185.2%, a quarter-over-quarter improvement of 8.4 percentage points. The Elkton, Md.-based bank's tangible equity increased 5% in the third quarter.

United Bank of Philadelphia fell below the 100% threshold after the Black-owned bank raised capital in the third quarter, according to a Nov. 20 article in USA Today.

Minnesota was the only state to have more than one bank above the 100% adjusted Texas ratio mark at the end of September.