Good Banks in the US?

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Mr. Fri's picture
Mr. Fri
Status: Silver Member (Offline)
Joined: Feb 21 2009
Posts: 220
Good Banks in the US?

Does anyone have suggestions of how I can find a bank that is not in trouble of closing or being taken over by the government? I've been at BofA for a long time but it looks like they may end up government owned.  I'm not sure I want to have my safe deposit box in BofA.  I was thinking of using a small local bank but I want to make sure it's not in trouble with bad securities or other issues.

lundsta's picture
lundsta
Status: Bronze Member (Offline)
Joined: Oct 13 2008
Posts: 89
Re: Good Banks in the US?

Are you wanting to find another bank just for a safe deposit box? Be careful here, banks are able to look in them with "reasonable cause". If it is to safeguard funds in a checking/savings account during the short term (1 year or less) you should be ok in a smaller institution. 

****Remember to never have a checking or savings account with the institution that carries your mortgage or other personal loans. They can offset those accounts if you are past due.*****  There are exceptions to this rule, but for the most part I see people who have given up on their homes and then are left without savings anyway.

There are many aspects to consider in this decision. How much faith you have in the FDIC? Are you looking for long term or short term?  

LindaBobzien's picture
LindaBobzien
Status: Bronze Member (Offline)
Joined: Dec 12 2008
Posts: 34
Re: Good Banks in the US?

From an earlier posting;

LindaBobzien wrote:

Some time ago I was looking for a safer bank also.  I found a good
state by state report on Elliot Wave.  I am not a big EW fan especially
but the report was good.  I chose a privately held local bank and have
been very happy.

Here's the link to the EW report.  You must join to get the report
but joining is free.  They do tend to send allot of spam but unsubing
from the newsletter is easy enough.

http://www.elliottwave.com/club/Find_A_Safe_Bank_Free_Report.aspx/default.aspx?code=26750 

Mr. Fri's picture
Mr. Fri
Status: Silver Member (Offline)
Joined: Feb 21 2009
Posts: 220
Re: Good Banks in the US?

Thanks Linda for the link.  However, I'm not sure I want to get spammed and only get 2 banks in my state.  I'm looking for a list which would have many more banks on it so I can compare.  Hopefully someone here can point me to a (reliable) list of that sort.

alexl2's picture
alexl2
Status: Member (Offline)
Joined: Mar 7 2009
Posts: 1
Re: Good Banks in the US?

Would this be of help to you?
http://www.bankrate.com/brm_c/safesound/ss_home.asp

Mr. Fri's picture
Mr. Fri
Status: Silver Member (Offline)
Joined: Feb 21 2009
Posts: 220
Re: Good Banks in the US?

Thanks Alex.  That's what I was looking for.

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