How can I find out if my bank is in trouble? How do I find a stable bank?
Some depositors ask their CPAs to review the financial status of various banks. The information on banks is readily available from the FDIC. First, use the FDIC's Bank Find page to locate the bank and then click to review your bank's financial reports.
The most important thing in determining the bank you want is whether or not it is FDIC insured. U.S. banks, operating under a federal or state issued charter are. The next thing to do is to ensure that your deposits are insured. As a general rule, your deposits are insured up to $100,000 or $250,000 for some retirement accounts, but with multiple owners (husband, wife, son, daughter or any combination) it is easy to have more than $100,000 in regular deposits insured. The FDIC has a web page to assist with this as well.
One important thing to remember is that interest is not insured. If one person had $100,000 in a CD at the bank and that bank failed, the $100,000 would be insured, but the interest would not. That interest exceeds the limit in this example. There is more information on the FDIC site or call your bank with questions.
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Some depositors ask their CPAs to review the financial status of various banks. The information on banks is readily available from the FDIC. First, use the FDIC's 