Texas Banks Skid?
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Texas Banks On A SkidBy: Detective Krum
In keeping with an old saying an informed person is wiser than a fool, I have taken the time to research specific banks to inform depositors of potential problems in their personal finances. Please look at the article defining banks failing by looking at this previous post by clicking previous postprevious post
Now I am looking at banks in Texas. What banks in Texas have a D, E, or F rating which puts them at great risk of failing? If you want to avoid potential long lines like IndyMac bank had in California, you may want to make a move with your deposits to a safer bank before the fall of your current bank. Texas banks may skid.
The following banks have an E rating which means red flags should be going up and their is a high risk this bank will fail. Remember, I am not giving financial advice and you do with this information what you will at your own risk. I am just providing information to help people make informed decisions.
Bank Rating Bank Name
E- First Bank, Snook, Texas
E+ Benchmark Bank Plano, Texas
E+ Old American City Mutual Fire Ins. Co, Texas
E+ Texas Republic Bank Frisco, Texas
E Texas National Bank Mercedes, Texas
D+ Cattleman’s National Round Mountain, Texas
D Citizens State Bank Woodville, Texas
D- Community State Bank Austin, Texas
D- Equity Bank Dallas, Texas
D- First Bank & Trust Dawson, Texas
D- Franklin Bank Houston, Texas
D- Independent Bank Irving, Texas
D- Millennium Bank Dallas, Texas
This is not an exhaustive list of possible bank failures coming to Texas. Texas appears to also have many insurance companies that have an E or D rating indicating a strong possibility to fail. Again, FDIC insurance will cover up to $ 100,000 of deposits however, no indication of how long you’ll have to wait to get your money and you could loose your house or car before you see your check from FDIC.
Recently reported through Bloomberg was the laying of of about 1,100 employees at HSBC (bank) in America. Yet we have discovered the following: The UK has a bank named B&B which is going to fail. There are three potential buyers for B&B bank in the UK and one of those buyers is HSBC. How can HSBC lay off 1,100 American workers and turn around and buy the assets of B&B bank in the UK? That might be a question for HSBC. HSBC has three banks in Delaware one in Maryland and one in Nevada. Only the Nevada bank has a (B-) rating the other three have Ds and one (an insurance unit) has a C rating.
To end this on a positive note, per victory1project, Texas has about 91 ( A ) rated banks. If you need more information about a bank in Texas, comment here or send an email.