Many people don’t worry about the capitalization of a bank. However, it is a good harbinger of distress and if not corrected early and quickly, many under capitalized banks fail. Under capitalized banks are able to use a rate listing service to attract certificate of deposits (CDs). As it appears that no one is policing [Read More…]

Our company was mentioned in a recent Article that MarketWatch wrote. Reading the comments on the article is almost as much fun as the article itself. :O) The article mostly focuses on Discover Bank which we also advertise for. They did also get the industry standard digs against brokered deposits, but overall a good read. [Read More…]

Last night, July 2, 2009, the FDIC closed seven banks. Last week they closed 5. The week before that was 3. Seems like they have run out of patience with underperforming banks (unless your assets are above $100 BB or so :O) ). The banks closed last night were: Founders Bank, Worth, IL — FDIC [Read More…]

President Obama signed the bill yesterday to extend the $250,000 FDIC coverage through 12/31/2013. Here is a link to the FDIC announcement. This will help, but it really should have been made permanent. This still makes you have to make sure your funds are maturing in the right time-frames. cd :O)

The US Congress and Senate passed legislation to extend the $250,000 FDIC insurance limit through 2013. We have been watching for this and saw it reported in the WSJ today. It won’t be law until President Obama signs the bill. His signature is expected in the next few days. This will help many banks who [Read More…]

One of our clients alerted us that First Star Credit Union may be advertising for deposits. This institution is not federally insured by the NCUA or privately by ASI. I found a newstory in the LA Times that reported they have been operating a Loan scam. I also found a Ripoff Report on the same [Read More…]

I first saw this last night (burning the midnight oil for you :O) ) on DepositAccounts.com. Many of our readers and visitors over the years have asked about Millennium Bank and I have always urged great caution. It is alleged that “only” $68 Million is in question. Although that pales in comparison to the Allen [Read More…]

It has been very busy around here. I’m sorry that I haven’t posted in a while. Big question. I wish I had big answers. Fed funds will most likely remain at the current level (0.00 to 0.25%) for the remainder of the year. CDs will probably continue to slide to levels around 1.5% to 2.00% [Read More…]

Just wanted to wish you all a Merry Christmas. May your Christmas be filled with the Spirit of Christmas, family, and fun. Thank you for spending time with us. Looking forward to 2009 and all the possibilities that it holds. Update 2/2/2009. It has been crazy busy around here, but I came across a site [Read More…]

Today it is being reported that the majority of the banks that took bailout dollars have no way to account for where it went. Didn’t anyone think that accountability might be a good idea?!? They are giving money to the auto companies. And from what I’ve read, they’ve removed most of the teeth that the [Read More…]