Is Your Bank Sick?

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TheStreet.com Ratings continues to monitor the health of the nation’s banks and savings and loan associations by issuing special reports each quarter on banks in key states, banks with capital shortages, and financial strength ratings. 

There have been 123 bank and thrift failures during the crisis of 2008 and 2009, as detailed in TheStreet.com’s interactive bank failure map.

One of the biggest steps taken by regulators to limit the number of bank failures was the temporary increase of the Federal Deposit Insurance Corporation’s basic limit on individual deposit insurance coverage to $250,000.  This increase has been extended through 2013.

The FDIC has also temporarily waived all deposit insurance limits for business transaction accounts (checking accounts), but this waiver is set to expire on June 30, 2010, after which business checking accounts will go back to the $100,000 deposit insurance limit.

This means it will be more important than ever for business and municipal entities such as school districts to carefully monitor the health of their banks.  It’s very easy to have more than $100,000 of somebody else’s money flowing through a business account.

TheStreet.com Ratings issues independent and very conservative financial strength ratings on the nation's 8,500 banks and savings and loans. They are available at no charge on the Banks & Thrifts Screener.

TheStreet.com also publishes a quarterly list of undercapitalized banks, based on quarterly filings and regulatory capital guidelines.

Most recently, TheStreet.com Ratings spotlighted California’s strongest and weakest banks.

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