Strongest and Weakest Banks and Thrifts

The Weiss Ratings for the Strongest and Weakest Banks and Thrifts in the US. (Hat tip to LewRockwell.com)

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A weak bank or thrift represents a potential for financial loss to its depositors, as well as a number of headaches and hassles for both its depositors and borrowers. And if a failed institution is taken over by another bank, customers can be forced to accept lower interest rates on their CDs or even lose an existing line of credit.

That’s why it is important to check the financial security offered by a financial institution prior to opening an account and then periodically monitor the company’s condition going forward. Low-rated banks and thrifts should be avoided in favor of highly rated companies.

The following U.S. banks and thrifts received the highest ratings from Weiss Ratings.

Strongest Banks and Thrifts Data as of 06/20/2008 Company Name State Weiss Safety Rating WASHINGTON FS&LA WA A+ FARMERS & MERCHANTS BK CA A+ CITY NB OF FLORIDA FL A+ CUSTODIAL TRUST CO NJ A+ BANK OF COMMERCE ID A+ FIRST NB&TC OF NEWTOWN PA A+ ROSEDALE FS&LA MD A+ CITIZENS BK TN A+ CALVIN B TAYLOR BKG CO MD A+ ELIZABETHTON FSB TN A+ FIRST PIEDMONT FS&LA GAFFNEY SC A+ FIRST NB MO A+ PIONEER TR BK NA OR A+ NATIONAL CAPITAL BK OF WA DC A+ PREMIER BANK WI A+ FIRST FIDELITY BK SD A+ BANK OF YORK SC A+ FARMERS & MERCHANTS BK MS A+ CHINATOWN FSB NY A+ ST HENRY BK OH A+

The following U.S. banks and thrifts received the lowest ratings from Weiss Ratings.

Weakest Banks and Thrifts Data as of 06/20/2008 Company Name State Weiss Safety Rating INDYMAC BK FSB CA E- INTEGRITY BK GA E- FEDERAL TRUST BANK FL E- MAGNET BANK UT E- SOUTHERN COMMUNITY BK GA E- FREEDOM BK FL E- AMERICAN STERLING BK MO E- FIRST PRIORITY BK FL E- FIRST SUBURBAN NB IL E- FIRST PERSONAL BK IL E- ISN BK NJ E- EBANK GA E- MAIN ST BK MI E- PENNSYLVANIA BUSINESS BK PA E- STOCKMANS BANK OK E- RIVERGREEN BK ME E- AMERIBANK INC WV E- HORIZON BANK IA E- PLATINUM COMMUNITY BK IL E- FIRST TUSKEGEE BK AL E-

Just because a particular institution does not appear on this list of lowest rated banks and thrifts, it does not necessarily mean that the company is safe or highly rated.  To check the rating of a specific institution, Weiss Ratings offers several online options and publications covering all commercial banks, savings banks, and savings and loans.

		A = Excellent B = Good C = Fair D = Weak E = Very Weak

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