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Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.

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New Bank Health Ratings Section at

New Bank Health Ratings Section at

We've added a new section at for Bank Health Ratings. This is intended to make it easy for you to learn about the financial health of your bank or credit union. The "Bank Health Ratings" link is now in the sub-menu under the "Bank Reviews" menu.

At the Bank Health Ratings page, just type in the name of you institution in the search box, click the search button, and it will take you directly to the financial health page for your institution. If the name you provide is not precise enough to narrow down the search to one institution, it will provide a list of possible institutions that you can select.

In addition to the search box, the Bank Health Ratings page includes summaries of my latest banking news and links to important FDIC and NCUA topics. At the bottom of the page, we list our ratings and Texas Ratios for some of the most popular internet banks. Note, for institutions like SmartyPig, the ratings are based on the bank that holds the deposits. For the case of SmartyPig, it's BBVA Compass.

Already Updated with the Latest FDIC Data

Both the FDIC and NCUA have just recently released financial data for each institution they insure for June 2010. My technical partner has already finished pulling in this data for all the banks and credit unions. Our health ratings are based on the latest data publicly available. It often takes Bankrate around two months to update its ratings.

Our health rating system measures an institution's health from a scale of 0 to 5 in which 5 is the most sound. The Texas Ratio and its trend are major components of this score, and you can review these numbers along with the other components of the score. Miranda's article on how to Evaluate the Health of Your Bank describes the Texas Ratio and the other components that we use in deriving the health score.

In addition to the health scores, we list many of the institution's financial numbers including assets, loans and deposits. Plus, we provide links to the institution's FDIC or NCUA page and a link to Bankrate's report.

Why You Should Care about Your Bank's Financial Condition?

It's true that if your deposits remain under the FDIC and NCUA coverage limits, you don't have to worry about losing your money. However, there are other reasons to be concerned about the financial health of your institution. For one, it may affect the future rates of your CD and reward checking accounts. I described many of these reasons and provided other bank rating resources in my post on the Best bank ratings services and why you should care.

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Comment #1 by Anonymous posted on
Thanks, Ken and "technical partner"!!  Just another nice perk to this site that keeps you guys at my Number One Stop on my daily rounds, looking at sites.

Comment #2 by Anonymous posted on
Is there something supperior about what you're doing over other, reliable, well-established sites, like Bauer Financial and

Comment #4 by Anonymous posted on
This is a great help and especially so when it is up-to-date information.  Thanks a million for this list.  I did look for the Patriot Bank in Houston, Tx, and see it is not listed.  Would there be a valid reason for this?

Comment #5 by Anonymous posted on
Based on the resounding silence on #2's question, I'm going to venture that the answer is no.  And chances are, it's not nearly as closely vetted information as on the websites mentioned.

Seems to me that there's a lot of effort here to reinvent the wheel.

Comment #6 by KenBDG posted on
@Anonymous #5, One significant advantage that we provide over Bankrate is that we're much quicker to update our ratings. The FDIC released its 6/30/10 data last Tuesday, and we updated our ratings based on this data by Wednesday. Based on history, Bankrate won't be updating its ratings until late October.

BauerFinancial typically takes around 2 weeks to update their ratings, but they only list the ratings. They charge for their financial summaries.

Our ratings are heavily based on the Texas Ratio which is a well-known financial measure of bank health. We also include the Texas Ratios in our financial summaries.

Comment #7 by Jo (anonymous) posted on
I personally feel it's a good idea to post the health of banks and CUs here, with the rest of the latest information regarding financial institutions. For me it's the one-stop shop to get current on whatever happens to grab at my curiousity, rather than jump from site to site.

Cheers to Ken!

Comment #8 by Anonymous posted on
Ken, faster does not mean better.  And one data point does not make a meaningful statistic.

Comment #9 by Anonymous posted on
Lies, **** lies, and statistics!

Comment #10 by the lof (anonymous) posted on
the lof
Your new section on bank health, great idea, very easy to use.  Thank you!