Advertising Disclosure

About Ken Tumin

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.


Popular Posts

Bank Deals Blog: Bank Health

Coronavirus Stimulus Package Includes Limited FDIC Coverage Expansion
Coronavirus Stimulus Package Includes Limited FDIC Coverage Expansion

The Coronavirus Aid, Relief, and Economic Security (CARES) Act that unanimously passed the Senate has a few little-known provisions that will likely be of interest to savers. The well-known provisions have been discussed at length by the media. These include the $1,200 tax rebates to most individuals, expanded unemployment benefits, billions of dollars for state and local governments and hospitals, and billions of dollars in loans for small and large businesses. The total cost of this package is close to $2 trillion. The bill is expected to pass the House...

Continue Reading
Safety of Your Deposits in the COVID-19 Pandemic
Safety of Your Deposits in the COVID-19 Pandemic

It was apparent last Sunday when the Fed held an emergency FOMC meeting and announced drastic policy actions, the COVID-19 (coronavirus) pandemic has the potential of seriously impacting the financial system. Also, as we learned from the 2008 financial crisis, when the financial system is under stress, bank failures rise dramatically. Thus, it’s reasonable that savers would be concerned about the safety of their deposits. To help ease those concerns, the FDIC published this March 18th press release for bank customers, and the NCUA published a similar March 19th press...

Continue Reading
First Bank Failure of 2020: Ericson State Bank in Nebraska
First Bank Failure of 2020: Ericson State Bank in Nebraska

Nebraska state regulators closed Ericson State Bank on Friday, February 14th. This is the first bank to fail in 2020. Four banks failed in 2019, and no banks failed in 2018. Bank failures have been rare in the last few years. The number of bank failures spiked during and soon after the last financial crisis, rising from 25 in 2008 to 140 in 2009, and peaking at 157 in 2010.

According to this FDIC press release, “Ericson State Bank had approximately $100.9 million in total assets and $95.2 million in...

Continue Reading
Bank & Credit Union Health Grades Updated from Latest Data (2019 Q3)
Bank & Credit Union Health Grades Updated from Latest Data (2019 Q3)

The FDIC and NCUA recently released their reports of the third quarter health of the institutions they insure. They also released the 2019 Third Quarter Call Reports of all insured institutions. We use these reports to derive our financial health grades for each institution. We have finished importing this data, and all of the health grades for banks and credit unions have been updated to reflect the September 30, 2019 reports.

You can view the latest health ratings of your bank or credit union in our Bank Health...

Continue Reading
Fourth Bank Failure of 2019: City National Bank of New Jersey
Fourth Bank Failure of 2019: City National Bank of New Jersey

The Office of the Comptroller of the Currency (OCC) closed City National Bank of New Jersey on Friday, November 1st. This is just the fourth bank to fail in 2019. It came as a surprise to me since two banks had failed just the week before. Bank failures have become rare since 2017. There were no bank failures in all of 2018. Only eight banks failed in 2017. According to the FDIC press release on this bank failure:

It’s interesting to note that the FDIC slightly change this statistic from the...

Continue Reading
Two Banks Closed by Regulators in Kentucky and Ohio
Two Banks Closed by Regulators in Kentucky and Ohio

Regulators closed two small banks on Friday, October 25th. These are the second and third banks to fail in 2019. Bank failures have become rare since 2017. There were no bank failures in all of 2018. Only eight banks failed in 2017. According to the FDIC:

Those three years were 2018, 2006 and 2005. The yearly number of bank failures increased dramatically in the last financial crisis, rising from 25 in 2008 to 140 in 2009. The number reached a peak of 157 in 2010.

The Friday’s two bank failures were typical....

Continue Reading
Bank & Credit Union Health Grades Updated from Latest Data (2019 Q2)
Bank & Credit Union Health Grades Updated from Latest Data (2019 Q2)

The FDIC and NCUA recently released their reports of the second quarter health of the institutions they insure. They also released the 2019 Second Quarter Call Reports of all insured institutions. We use these reports to derive our financial health grades for each institution. We have finished importing this data, and all of the health grades for banks and credit unions have been updated to reflect the June 30, 2019 reports.

You can view the latest health ratings of your bank or credit union in our Bank Health...

Continue Reading
Bank & Credit Union Health Grades Updated from Latest Data (2019 Q1)
Bank & Credit Union Health Grades Updated from Latest Data (2019 Q1)

The FDIC and NCUA recently released their reports of the first quarter health of the institutions they insure. They also released the 2019 First Quarter Call Reports of all the insured institutions. We use these reports to derive our financial health grades for each institution. We have finished importing this data, and all of the health grades for banks and credit unions have been updated to reflect the March 31, 2019 reports.

You can view the latest health ratings of your bank or credit union in our Bank...

Continue Reading
First Bank Failure Since 2017 - Customers May Lose Uninsured Deposits
First Bank Failure Since 2017 - Customers May Lose Uninsured Deposits

The Texas Department of Banking closed The Enloe State Bank on Friday according to an FDIC press release. The FDIC then arranged for Legend Bank, N.A. to assume the insured deposits. This is the first bank to fail since December 2017. The Enloe State Bank was small with only one branch, $36.7 million in assets and $31.3 million in deposits.

Between 2009 and 2017, it has been typical for the FDIC to arrange for another bank to acquire the failed bank and to assume all deposits, even those above the...

Continue Reading
Bank & Credit Union Health Grades Updated from Latest Data (2018 Q4)
Bank & Credit Union Health Grades Updated from Latest Data (2018 Q4)

The FDIC and NCUA recently released their reports of the fourth quarter health of the institutions they insure. They also released the 2018 Fourth Quarter Call Reports of all the insured institutions. We use these reports to derive our financial health grades for each institution. We have finished importing this data, and all of the health grades for banks and credit unions have been updated to reflect the December 31, 2018 reports.

You can view the latest health ratings of your bank or credit union in our Bank...

Continue Reading
Load More...