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Is There A Website Where One Can Easily Check On Bank Solvency?.......

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global1 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-19-08 04:13 PM
Original message
Is There A Website Where One Can Easily Check On Bank Solvency?.......
I would like to check on my current bank and see where it stands during this crisis and I would also like to have options if I need to move money.

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lame54 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-19-08 04:15 PM
Response to Original message
1. Deepshit(dot)com
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Contrary1 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-19-08 04:17 PM
Response to Original message
2. Maybe this site will help:
Edited on Fri Sep-19-08 04:22 PM by Contrary1
http://www.bankrate.com/brm/safesound/ss_home.asp

*edit to add

Google: fitch ratings (your bank name)
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Better Believe It Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-19-08 04:21 PM
Response to Reply #2
3. That's A Good Site I've Used It
Edited on Fri Sep-19-08 04:24 PM by Better Believe It
I think I'll make a lead post on this.
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Ilsa Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-19-08 04:23 PM
Response to Original message
4. Your bank will be periodically examined by regulators, like the FDIC
Edited on Fri Sep-19-08 04:36 PM by Ilsa
and Comptroller of the Currency. They usually use one another's examinations if a bank appears to be doing pretty well.

Do you know how to read their financial statements? The financial statements are publically available. There may be a balance sheet available in the bank lobby. Here is a site for the FDIC: http://www2.fdic.gov/idasp/

One ratio you can look at is the Loan to Deposit ratio, and also the Investments account for whatever detail they can make public. Also look for the Allowance for Bad Debt for an amount that is excessive compared to the total loan portfolio. Also look at how much Other Real Estate they own. This is the real estate they foreclosed on.

This information won't tell you much about their Investment portfolios, though.

Here's the OCC site: http://www.occ.treas.gov/

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yy4me Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-19-08 04:35 PM
Response to Original message
5. Check this out,bpretty good info.
http://www.bankrate.com/

Found the banks my area with the best ratings. Took a while for me to navigate the site to find what I needed but the info was there, just took me a while. You computer savvy folks will find it right away.
Good Luck
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