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Problem Banks
Old 10-27-2012, 10:31 AM   #1
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Problem Banks

While I am sure that most members are aware of, and probably frequent this website, am posting the url for those who may wish to learn a little more about banks, and the level of risk involved with savings.

Problem Bank List | Tracking Problem Banks and Failed Banks

I found the site about 5 years ago, and subscribe to the emailings. In looking over the problem banks, and the changes that take place when a bank either closes or becomes a takeover, my own experience tells me to keep an eye out for possible problems. Going back about 20 years, I find that 7 out of 12 banks that we have used, have either gone belly up, or become takeovers. Most recently... of the last 7 banks, five have had major changes... ie: we're awaiting a changeover of accounts from MetLife Bank to GE.

Four of the 8 major banks in my immediate area are classified as Problem, and our last bank (last year) is now awaiting merger, or possible closing.

Since we have no individual accounts more than $250,000... (wish we did), we are not currently at risk of loss, but in those cases where we've had accounts, there have been nuisances, such as chageover of accounts, new checks, delayed transfers, and problems with some small merchants who seem worried when a defunct bank check is being cashed.

If you haven't been to the site, at the least, go to the problem bank list... many hundreds of banks... and see if your bank is on the list, and for what reason. Note that the listing is sortable by the columns... ie, state, city, capitalization, reason for being on the list, or alphabetical by name.

The most current "news" concerns a Pennsylvania bank, that is being closed... closed outright... since the FDIC was not able to find a bank to merge and take over. Theoretically, this will leave some depositors without recourse.

Enjoy... (I think)
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Old 10-27-2012, 11:11 AM   #2
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What's a bank? ...
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Old 10-27-2012, 02:35 PM   #3
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Originally Posted by imoldernu View Post
,,,,
The most current "news" concerns a Pennsylvania bank, that is being closed... closed outright... since the FDIC was not able to find a bank to merge and take over. Theoretically, this will leave some depositors without recourse.
(I think)
Only if they exceeded the FDIC limits--hopefully people with >$250K to park in a bank are savvy enough to figure this out.

Lots of ads on that site for banks. Smart site owners.
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Old 10-27-2012, 07:40 PM   #4
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What's a bank? ...
Yeah, exactly-- none of the financial institutions I use will be on that list either...
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Old 10-27-2012, 08:41 PM   #5
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Yeah, exactly-- none of the financial institutions I use will be on that list either...
Help me on this... Y'all can guess that I'm not an investor, but not to use a bank?

BTW... the link to the actual list was a little bit buried... here's the direct link to the current list.
http://cr4re.com/PBL10122012.html
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Old 10-27-2012, 09:08 PM   #6
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Help me on this... Y'all can guess that I'm not an investor, but not to use a bank?

BTW... the link to the actual list was a little bit buried... here's the direct link to the current list.
Unofficial Problem Bank List
many use credit unions instead of banks.
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Old 10-27-2012, 09:37 PM   #7
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This site has bank ratings, you can lookup banks in your specific location.

Bank and Credit Union Star Ratings
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Old 10-27-2012, 10:30 PM   #8
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I wish there was a list of problem credit unions.
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Old 10-27-2012, 10:58 PM   #9
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Only if they exceeded the FDIC limits--hopefully people with >$250K to park in a bank are savvy enough to figure this out.

Lots of ads on that site for banks. Smart site owners.
Note that that is 250k per way an account is styled, a couple can have 3 sets of coverage, his, hers and theirs, plus 2 more him for her on death and vice versa. Check the FDIC web site for details.
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Old 10-27-2012, 11:59 PM   #10
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Originally Posted by imoldernu View Post
Help me on this... Y'all can guess that I'm not an investor, but not to use a bank?
BTW... the link to the actual list was a little bit buried... here's the direct link to the current list.
Unofficial Problem Bank List
Navy Federal Credit Union and Pentagon Federal Credit Union.

I use USAA for insurance and credit cards, but not for savings or checking accounts. However I keep some of my father's CDs there.
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Old 10-29-2012, 11:19 AM   #11
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many use credit unions instead of banks.

Credit Unions go under also...
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Old 10-29-2012, 11:24 AM   #12
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Credit Unions go under also...
Not very often and there is NCUA protection (similar to FDIC).
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Old 10-29-2012, 12:15 PM   #13
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Not very often and there is NCUA protection (similar to FDIC).
I could not find the total number of credit unions.... but here is a list of failures for this year and last (if you click 2011)...

Weiss Ratings

I was trying to find out the failure ratio to see if they were higher than banks or not...


OK... looks like 7500 credit unions and 7300 banks from what is listed on the site provided.... so banks are worse...
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Old 10-29-2012, 12:17 PM   #14
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Credit Unions go under also...
Do you have a list like the one OP put up?
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Old 10-29-2012, 12:54 PM   #15
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From the original "Problem Bank" website...

This is an extended graphic which attempts to explain the Federal Reserve, and it's relationship to banking and the US Economy.
Secrets of The Federal Reserve Visually Explained | Problem Bank List

Scroll....
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Old 10-29-2012, 03:12 PM   #16
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Do you have a list like the one OP put up?

It looks like you can get ratings from the site I attached on an earlier post... but you have to sign up... I did not...

I was just trying to point out that CUs are not immune from failures which seemed to be inferred... and not all CUs are ran very well....
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Old 10-29-2012, 03:16 PM   #17
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It looks like you can get ratings from the site I attached on an earlier post... but you have to sign up... I did not...

I was just trying to point out that CUs are not immune from failures which seemed to be inferred... and not all CUs are ran very well....
I don't see where anyone inferred that CUs are immune from failure.
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