Bank Ratings

As many of you know federal regulators seized IndyMac Bank last month in what regulators called “The second largest bank failure in US history1.” Thank goodness the FDIC exists to help protect deposits. With all of the turmoil in the financial sector some of you have asked about the financial strength of your bank. According to the FDIC website:

“The FDIC never releases its ratings on the safety and soundness of banks and thrift institutions to the public. As a service to consumers, the staff of the FDIC Library has compiled a listing of several financial institution rating services. Disclaimer: This list should not be construed as an endorsement or confirmation by the FDIC of information provided by these companies.”

I clicked on several of the different rating agency’s listed by the FDIC. The one I found easiest to navigate was offered by Bauer Financial. They offer a free rating report for banks and credit unions. Click here to check out your bank or credit union. And to keep the legal begals happy I will restate the following disclaimer. Parker Financial llc does not endorse or confirm the information provided by Bauer Financial.

When a bank fails you often hear stories about people who had money deposited that was not covered by FDIC insurance because they were over the limits. Click here to review FDIC frequently asked questions which should help clarify what is and is not not covered by FDIC.

I have a complimentary workshop coming up on August 25th and 27th. As always my clients and their friends and family are welcome to attend. One of the issues we will be discussing are ways to reduce volatility and maximize yield in these uncertain times. Click here for more information.


Hope all is well,

Jason Parker

1 http://www.swiftpage2.com/SpeClicks.aspx?Acc=Jason.SRP&SPCED=IC080814092614&LNK=5&UId=0
http://www.swiftpage2.com/SpeClicks.aspx?Acc=Jason.SRP&SPCED=IC080814092614&LNK=6&UId=0


Jason Parker is the President of Parker Financial LLC a fee based registered investment advisory firm specializing in wealth management. His office is located at 9057 Washington Ave NW #104 in old town Silverdale, WA 98383. He holds the series 65 securities license as well as being licensed to offer life and health insurance in Washington State. For more information please contact Jason at 360-337-2701 or online at http://www.swiftpage2.com/SpeClicks.aspx?Acc=Jason.SRP&SPCED=IC080814092614&LNK=7&UId=0. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. The opinions and information presented do not constitute a solicitation for the purchase or sale of any securities. Parker Financial llc is not endorsing or confirming the information provided by Bauer Financial.