How’s Your Bank Doing? The FDIC’s Friday Closures

This will be old news to insiders, but someone was just telling me about Bauer Financial’s bank star ratings; they give a instant look at the health of local and regional banks. Take a look at Georgia (lots of bad banks) versus New York (relatively few bad banks). (no permalinks to those pages, so use the link above)

Why is this important? It might give you a bit of a sneak peak into banks that could soon be on the FDIC’s Friday closures list. So as not to cause bank runs, the FDIC announces bank takeovers around 5:30 on Friday. (“No advance notice is given to the public on bank closures.” -FDIC) Take a look at the full list – a handful every year from 2000-2007, and now 2-4 per week. Massive.

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