The Charleston Real Estate Search.com

Protecting your Money – Bankwatch

Last week I wrote a post about the current volatility of the financial sector.  So many of you wrote to me and asked me for more information that I decided to post this follow up. As a Realtor, I consider myself a trusted advisor and make myself available to help my clients understand the Real Estate market conditions and the trends that swing the proverbial pendulum.

 As an investor, I rely on other trusted advisors to help me navigate through the world of savings and investing. In both situations, I also do a great deal of research to keep myself updated so that I can ask the right questions.  You should too.  I suggest that you take the information below and formulate your own questions.  Then take those questions to your personal financial advisors. If it’s a Real Estate matter, my team is at your service.  For investment advice, don’t just take my word, ask your advisor. 

That said, I wanted to share a recent report from the experts at Weiss Research, Inc. who put out the MoneyandMarkets.com newsletter available at www.TheStreet.com. Their experts used the FDIC’s Call Reports and the OTS’ Thrift Financial Reports to rank all U.S. Banks.

Their recommendations for the current financial climate:

• Avoid bank stocks in the current market
• Keep your deposits under $100,000 per institution
• Avoid weak banks regardless of their size. If you have money in banks with a rating of D or E, consider moving your money.

A weak bank is considered to be rated lower than B-.  Just like elementary school, you want to aim for the honor roll.  To see their list of strongest and weakest banks click here: The X-List Report