Bank Solvency and FDIC Worries

[nccoastalseller]

nccoastalseller

SDCCU is covered by NCUA insurance (100K per SSN).

SDCCU CAEL rated 2 (1-5, 1 is best 5 is worst).

http://www.bankrate.com/brm/safesound/cael_explain.asp

[bsrsharma]

NCCoastalSeller,

Thanks for that info. I am a little perplexed by these ratios. Do you understand what these are? The 3 columns are for Q12007, all of 2006 and all of 2005:

Asset Quality:

Nonperforming Assets / Assets 0.11 0.16 0.07

Nonperforming Assets / Equity & Loss Reserves 0.92 1.38 0.55

Loss Reserves / Loans 0.27 0.32 0.26

They look rather large for non-performing/loss reserve.

[bsrsharma]

NCCoastalSeller,

Thanks for that info. I am a little perplexed by these ratios. Do you understand what these are? The 3 columns are for Q12007, all of 2006 and all of 2005:

Asset Quality:

Nonperforming Assets / Assets 0.11 0.16 0.07

Nonperforming Assets / Equity & Loss Reserves 0.92 1.38 0.55

Loss Reserves / Loans 0.27 0.32 0.26

They look rather large for non-performing/loss reserve.

[bsrsharma]

NCCoastalSeller,

Thanks for that info. I am a little perplexed by these ratios. Do you understand what these are? The 3 columns are for Q12007, all of 2006 and all of 2005:

Asset Quality:

Nonperforming Assets / Assets 0.11 0.16 0.07

Nonperforming Assets / Equity & Loss Reserves 0.92 1.38 0.55

Loss Reserves / Loans 0.27 0.32 0.26

They look rather large for non-performing/loss reserve.

[nccoastalseller]

nccoastalseller

I can’t comment on the specifics of the financial statement.

I do wonder how often the ratings are updated.

Anyone in the banking world want to provide comments?

I plan on reading through this: (http://www.fdic.gov/regulations/resources/directors_college/sfcb/asset.pdf)

when time allows.

[nccoastalseller]

nccoastalseller

I can’t comment on the specifics of the financial statement.

I do wonder how often the ratings are updated.

Anyone in the banking world want to provide comments?

I plan on reading through this: (http://www.fdic.gov/regulations/resources/directors_college/sfcb/asset.pdf)

when time allows.

[nccoastalseller]

nccoastalseller

I can’t comment on the specifics of the financial statement.

I do wonder how often the ratings are updated.

Anyone in the banking world want to provide comments?

I plan on reading through this: (http://www.fdic.gov/regulations/resources/directors_college/sfcb/asset.pdf)

when time allows.

[cashman]

So, any thoughts about putting the cash with the big brokerage houses? They claim $25M in insurance from SIPC, but that’s for securities. What about the cash? There must be lots of people out there that have millions in cash laying around. How do they protect it? It’s too much of a pain the neck to split it out in 100K chunks to dozens of FDIC banks.

[cashman]

So, any thoughts about putting the cash with the big brokerage houses? They claim $25M in insurance from SIPC, but that’s for securities. What about the cash? There must be lots of people out there that have millions in cash laying around. How do they protect it? It’s too much of a pain the neck to split it out in 100K chunks to dozens of FDIC banks.

[cashman]

So, any thoughts about putting the cash with the big brokerage houses? They claim $25M in insurance from SIPC, but that’s for securities. What about the cash? There must be lots of people out there that have millions in cash laying around. How do they protect it? It’s too much of a pain the neck to split it out in 100K chunks to dozens of FDIC banks.

[gracie]

Does any one have any info on Mission Federal Credit Union?
How safe is that bank?

[gracie]

Does any one have any info on Mission Federal Credit Union?
How safe is that bank?

[gracie]

Does any one have any info on Mission Federal Credit Union?
How safe is that bank?

[Anonymous]

Gracie, according to the creditunionrate.com website, Mission Federal is number 34 on their top 50 list of credit unions in the nation.

[Anonymous]

Gracie, according to the creditunionrate.com website, Mission Federal is number 34 on their top 50 list of credit unions in the nation.

[Author]

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