Concerned about a bank?

[Dave Siciliano]

I’m hearing that a lot of folks have concerns about a bank and don’t know how to check the financial condition of an institution. So, if you have funds in a bank that is FDIC insured, I would like to point out that you can go on the FDIC's web site and look at what is called a 'call' report even if the institution is private.

This gives a great deal of financial information and there may be a narrative that accompanies it. So, you can at least access information for all institutions that report to FDIC. Normally, they provide a quarterly report. FDIC.GOV is the main site; however, the link to where one enters an institutions' name to search for the call report is at https://cdr.ffiec.gov/public/SearchFacsimiles.aspx

Hope this helps.

Best,

Dave

 

[ntbjounin]

haha, i thought this was going to be about slow speed steep turns!

 

[Larryo]

I’m hearing that a lot of folks have concerns about a bank and don’t know how to check the financial condition of an institution. So, if you have funds in a bank that is FDIC insured, I would like to point out that you can go on the FDIC's web site and look at what is called a 'call' report even if the institution is private......

Hope this helps.

Best,

Dave

Dave,

Good info, I'm switching banks..... again....

 

[rpadula]

You can find similar information about credit unions at the NCUA. Deposits there can be insured, too.

Start here to search by name and location. Select the one you are interested in from the list. You'll then be at a page where you can review a Financial Performance Report, which can then show a Financial Analysis and a Ratio Analysis.

Good luck.

 

[Bob Noel]

yep - my first thought was about banking an airplane.

 

[TangoWhiskey]

Great post, Dave. Thanks for the link!

 

[KennyFlys]

yep - my first thought was about banking an airplane.

Force vectors are becoming an issue in picking where to do business these days!

I switched to Chase Bank just to have a local office. I prefer smaller banks but at least it's one with the ability to buy another out, not be bought.