Saturday, April 4, 2015

Which Bank In Ohio Failed The FDIC's CRA?

Of all the banks evaluated in the most recent CRA report only one, located in Bellaire, Oh, failed with a rating of "NI" which means "needs improvement". Three banks, however, located in MS, NE, and UT received a rating of "outstanding".

The Federal Deposit Insurance Corporation (FDIC), an institution created in 1933 to restore confidence in the banking system, issued a list of banks that were evaluated in January 2015 for compliance with the Community Reinvestment Act (CRA). The CRA is a 1977 law designed to monitor the financial health of banks. In other words, it's a test of financial health. The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) mandated the public disclosure of CRA evaluations and the most recent evaluation was published last week. Here's a quick summary of what you will find. 

In the Atlanta Region (AL, FL, GA, NC, SC, VA, WV) all 9 banks received a satisfactory grade.

In the Chicago Region (IL, IN, KY, MI, OH, WI) 14 out of the 15 banks received a satisfactory grade. Only Belmont Savings Bank in Bellaire, Ohio (see below) received a rating of "Needs To Improve".

28348Belmont Savings BankP.O. BOX 654BELLAIREOH43906-0000NI

Of the 13 banks in the Dallas Region (AR, CO, LA, MS NM, OK, TN, TX) that were evaluated all were given a satisfactory rating except for the Bank of Morton (see below) in Morton, MS which received a rating of "O" for outstanding.

8556 Bank of Morton P.O. BOX 229 MORTON MS 39117-0000 O

In the Kansas City Region (IA, KS, MO, ND, NE, SD) all but one bank received a satisfactory rating -- Heartland Bank in Geneva NE received an "outstanding".

18740 Heartland Bank P.O. BOX 313 GENEVA NE 68361-0000 O

All eight banks in the New York Region (CT, DE, DC, MA, MD, ME, NH, NJ, NY, PA, PR, RI, VI, VT) received a satisfactory rating, as did all but one of the four banks in the San Fransisco region (AK, AZ, CA, GU, HI, ID, MT, NV, O, UT, WA, WY). Transportation Alliance Bank, Inc. in Ogden, UT received an "outstanding".

34781Transportation Alliance Bank, Inc.4185 HARRISON BOULEVARD, SUITE 200OGDENUT84403-0000O

If you like what you're reading, please join my mailing list to receive blog posts and updates as they occur. If you're an investor with all of your assets tied up in the stock market and cash, you might want to consider a few diversification strategies. Gold is the oldest asset in the world and it's inflation proof. Bitcoin is the gold standard for the cryptocurrency world, which is the fastest growing asset class in the world. Diversifying your portfolio into one or both of these assets can help to insure your portfolio against a stock market crash or inflation. Most importantly, it can help to safeguard the gains you've made over the last 10 years.

Please note that there are other companies that sell gold and Bitcoin on the market, and you should always do your research when making decisions about your portfolio. Just like your personal health, if you're planning on having major surgery, you need to get a second, and sometimes a third, opinion. You want to make sure your surgeon is good and has performed the procedure many, many times.  In the same way, you need to trust your broker and you need to make sure they are reputable. This is the process I used when looking for a broker to recommend.

Full disclosure: RegalAssets compensates me for everyone I send their way, but I would receive compensation from any company I chose to recommend. The only broker I'm recommending is Regal, primarily due to its innovative product offering in my favorite commodities - gold, precious metals and cryptocurrency like Bitcoin. They also have a distinguished track record for success (see below).

Next Steps: Use Regal as one of your options and compare against them. Your other brokers should be able to offer the same level of service and the same low rates. The kit is free and it will provide you with a basis for comparison. Don't wait, get started today. Fill out the form below to get your free investment kit.

If you're interested in learning more about gold investments, click here to receive a free gold investment kit from Regal Assets.

If you're interested in learning more about Bitcoin investments, click here to receive a free Bitcoin investment kit from Regal Wallet.

Featured Post

Can Digital Currency (Bitcoin / M-Pesa) Wipe Out World-Wide Corruption & Poverty?

I often hear about all the alleged "criminal behavior" Bitcoin supports. I think it's important to discuss Bitcoin's p...

Popular Posts

Popular Older Posts