This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

State Regulator Says Louisiana Banks Mostly Sound

By ALAN SAYRE

NEW ORLEANS (AP) ¿ Louisiana banks are being spared the problems bedeviling the country's largest institutions and, in many cases, are performing better than their peers in other states, the state's top banking regulator says.

"The best word would be sound," Commissioner of Financial Institutions John Ducrest said in an interview. "Compared to some other parts of the country, our banks are in good shape."

Only 6 percent of Louisiana banks posted an annual loss in 2008, compared to about 24 percent nationwide, Ducrest said.

Ducrest would not say if he believed all of the state's 160 banks and thrifts would survive the current recession. But he said public fears are heightened unnecessarily by the high-profile cases of such banks as Citigroup and Bank of America and the collapse last year of Washington Mutual.

"There's about 8,500 banks across the country," Ducrest said. "When you look at the FDIC problem bank list, they had 252 at the end of the year. The problem is the largest of the large banks are having significant problems and those banks are dominating the press."

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
SYM TRADE IT LAST %CHG
BAC $16.29 -0.37%
IBKC $64.07 0.72%
MSL $13.31 1.29%
TBBK $9.81 2.19%
AAPL $125.01 -0.63%

Markets

DOW 17,841.98 -86.22 -0.48%
S&P 500 2,080.15 -9.31 -0.45%
NASDAQ 4,919.6440 -19.6830 -0.40%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs