Bank Deals Blog: Bank Health

Last week, the FDIC and NCUA released their reports of the second quarter health of the institutions they insure. They also released the 2021 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, 2021 reports.

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

DepositAccounts.com has released its list of the 2021 Top 200 Healthiest Banks and Credit Unions in America.

DepositAccounts.com evaluates the financial health of federally-insured banks and credit unions in the United States once per quarter and has been tracking healthy institutions since 2010. To determine bank ranking and recognition, DepositAccounts.com grades each institution on a number of factors, including capitalization, deposit growth, and loan-to-reserve ratios.

For a complete listing of the 2021 Top 200 Healthiest Banks and Credit Unions in America, visit https://www.depositaccounts.com/banks/health.aspx.

In the last month, the FDIC and NCUA released their reports of the first quarter health of the institutions they insure. They also released the 2021 First 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 Mach 31, 2021 reports.

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

In the last month, the FDIC and NCUA released their reports of the fourth quarter health of the institutions they insure. They also released the 2020 Fourth 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 December 31, 2020 reports.

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

The financial technology company (fintech) known as Beam that offered a high-yield bank account via its mobile app is banned from offering banking services. The Federal Trade Commission (FTC) just announced the settlement it reached with Beam Financial. According to the FTC press release:

Concerns started to build at Beam last September when DA readers posted problems that they had in withdrawing their money from Beam. In October, news of these issues were published by CNBC. In my October blog post, I reviewed these issues and my concerns about how Beam...

The FDIC and NCUA recently released their reports of the third quarter health of the institutions they insure. They also released the 2020 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, 2020 reports.

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

The financial technology company (fintech) known as Beam has made news due to many of its banking customers reporting that they have been unable to withdraw their money for months. Beam attracted attention in the last year due to its high yield bank account that’s accessed through the Beam mobile app. Like many fintechs, Beam claimed to be working with banks that actually hold the customer deposits. Through these banks, it was claimed that the accounts offered FDIC coverage. The problem that Beam customers have been experiencing is shedding light...

Kansas state regulators closed Almena State Bank late Friday, October 23. This is the fourth bank to fail in 2020, and it’s the third bank to fail since the COVID-19 pandemic began in March. Like the first and second bank that failed during the pandemic, Almena State Bank had major problems long before this year. According to the FDIC press release:

Even though the pandemic may not be to blame for this bank’s failure, it should be noted that this failure occurred only one week after the previous bank failure (the...

Last Friday Ally Financial released its third quarter earnings report, and Q3 profits were strong and far exceeded analysts’ estimates. A few details from Ally’s earnings report may interest Ally Bank deposit customers. First, if you have a lot of your savings at Ally Bank, the Q3 earnings report indicates a financially healthy bank. According to this American Banker article on Ally:

Auto loans contributed to large gains in both revenue and profit. Compared to Q3 2019, adjusted total net revenue was up 4%, and adjusted earnings per share was up...

Florida state regulators closed First City Bank of Florida late Friday, October 16. This is the third bank to fail in 2020, and it’s the second bank to fail since the COVID-19 pandemic began in March. Like the first bank that failed during the pandemic, First City Bank of Florida had major problems long before this year. According to the FDIC press release:

The pandemic will likely result in a large increase in loan defaults and other conditions that will stress banks. Help from the Federal Reserve, the Treasury, the FDIC...