350 safest banks in America

by Gary and Lisa Schoeffler on August 1, 2012

in Latest News

The relationship Americans have with their banks used to be based on trust.

We trust banks to protect our hard-earned money. We expect that every dollar we put into our bank will be held safe until we come back for it.

But what if the bank doesn’t deserve our trust?

In America, we have let our guard down in our banking relationships. We assume that everything will be fine if our bank fails. After all, the Federal Deposit Insurance Corp. insures our deposits up to $250,000. Why worry?

I hate to be the one to break this to you, but the FDIC’s Deposit Insurance Fund — aka the money used to cover bank failures — has been all but drained.

In 2007, the DIF had a healthy $52.4 billion. But since 2008, more than 413 banks have failed, and that has taken a devastating toll on the once-solid reserve fund.

According to the FDIC, the balance in the DIF is now just $11.8 billion — a drop of almost 78% from where it was before the financial crisis began. And though the fund will replenish slowly over time, the FDIC expects future bank failures from 2012 to 2016 to cost the fund $12 billion more.

California’s Best Banks

California

  • 1st Enterprise Bank, Los Angeles
  • Armed Forces Bank of California, San Diego
  • Bank of New York Mellon Trust, Los Angeles
  • California Republic Bank, Newport Beach
  • Capital Bank and Trust Company, Irvine
  • County Commerce Bank, Ventura
  • Eastern International Bank, Los Angeles
  • Evergreen International Bank, Long Beach
  • First American Trust, Santa Ana
  • Focus Business Bank, San Jose
  • Malaga Bank, Palos Verdes Peninsula
  • Merchants National Bank of Sacramento, Sacramento
  • Premier Business Bank, Los Angeles
  • Valley Republic Bank, Bakersfield
  • Vibra Bank, Chula Vista
  • Wells Fargo Bank, Los Angeles

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Gary and Lisa Schoeffler are Ventura Real Estate Professionals specializing in residential real estate. Their expertise in helping both buyers and sellers is widely recognized in Ventura County. How can they assist you today? Wondering what the market is like? Call them, they will be happy to talk with you about it. 805-320-4472

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