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VERIBANC BLOGS Has Your Bank Failed You?Last month, the Colorado State Banking Department closed Premier Bank, Denver (CO). The Federal Deposit Insurance Corporation negotiated with United Fidelity Bank, FSB, Evansville(IN) to assume all of the deposits of Premier Bank – a small bank with assets just under $32 Million. That's the good news - For the moment. Unfortunately, VERIBANC has observed that with many 'out of state' bank mergers, the acquiring bank's underwriting standards and/or product offerings can directly affect the failed institution's customers. If you have recently experienced your bank's closure (SEE TABLE BELOW), we invite you to share your experience - in the 'Comments' area at the bottom of this page.
(**) second lowest rating Very few people anticipate their bank failing, but it can (and does) happen. We'd like to help you avoid these potential repercussions: • CHANGE OF INTEREST RATE • ACCESS TO YOUR SAFE DEPOSIT BOX • COVENANT CHANGES AND REDUCTIONS TO YOUR LINES OF CREDIT • CD RATE CHANGE • CLAIMS ISSUES If you'd like a free consultation to determine the safest banks in your area, or to actively monitor your existing bank or credit union, give us a call at (800)837-4226 to speak with a VERIBANC representative. You can also order your bank's risk rating report today byCLICKING HERE |
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