December 16, 2014: BAUERFINANCIAL, Inc., the nation’s bank rating firm, has just released its final star-rating updates of 2014 (based on September 30 financial data) and the findings show the banking industry to be in the best shape it has been in since the first quarter of 2007.
Topping the list are Alaska and New Hampshire which both have 100% of their respective banks appearing on Bauer’s Recommended Report (rated either 5-Stars or 4-Stars).
The percentage of recommended banks improved in the majority of states, although four states lost ground. They are: Hawaii, Rhode Island, West Virginia and Wyoming. Puerto Rico still lags behind with just 16.7% of its banks earning a spot on that list.
Nationwide, the Troubled and Problematic Report, which includes banks rated 2-Stars or below, contains 5.2% of the industry. While that number continues to improve, there are still 341 banks in that category. Make sure yours isn’t one of them.