CARSON CITY, Nev. (TheStreet) -- Nevada has had four bank failures this year and last, the fifth-highest for any state, as the real estate bubble infected financial firms.

While four failures may seem inconsequential, it's relatively high, given that there were only 39 Nevada banks and thrifts that reported data as of March 31. Still, an analysis of Nevada's banks, and savings and loans by TheStreet.com Ratings highlights four institutions that were in strong shape as of March 31. In other states, Georgia suffered the most number of failures, with 21; California and Illinois each had 13; and Florida had five.

The most recent Nevada bank failure was Great Basin Bank of Nevada on April 17, which had its branches and deposits sold to

Nevada State Bank

of Las Vegas, a subsidiary of

Zions Bancorp

(ZION) - Get Report

. Nevada State Bank had previously acquired the deposits and branches of the failed

Silver State Bank

of Henderson on Sept. 5.

TheStreet.com's interactive

Bank Failure Map

contains a summary of all failed banks and thrifts for 2008 and 2009.

Strongest Nevada Banks

Based on March 31 financial reports, four Nevada institutions were rated B-plus (good) or higher, the same as the previous quarter. All four are rated A-minus (excellent).

The ratings encompass a large number of data, placing the greatest weight on capital strength, credit quality and earnings stability. To be considered

well-capitalized

, most banks and S&Ls need to maintain a total risk-based capital ratio of at least 10%.

Largest Nevada Institutions

The following includes capital, earnings and asset-quality indicators for the 10 largest Florida banks and thrifts.

While

Citigroup

(C) - Get Report

is based in New York, the holding company's largest subsidiary is

Citibank NA

, whose headquarters is in Las Vegas. Citigroup's financial-strength rating of D was assigned in March, based on the December 2008 financial report.

The second-biggest institution headquartered in the state is

Wachovia Mortgage FSB

, now a subsidiary of

Wells Fargo

(WFC) - Get Report

TST Recommends

. Wachovia Mortgage's financial-strength rating of D mainly reflects its $4.8 billion in mortgage loans past due 90 days or more, as of March 31.

Other large Nevada subsidiaries of holding companies headquartered outside the state include

Charles Schwab Bank

of Reno, held by

Charles Schwab Corp.

(SCHW) - Get Report

;

M&I Bank FSB

, a subsidiary of

Marshall & Ilsley

(MI)

; and

HSBC Bank Nevada NA

, owned by

HSBC Holdings PLC

(HBC)

.

Among the 10 biggest Nevada institutions,

Beal Bank Nevada

stands out, with a nonperforming-asset ratio of 12.6% as of March 31. However, the institution, along with its affiliate

Bank Bank

of Plano, Texas, built up a very large capital war chest toward the end of the real-estate boom, and now has started acquiring troubled commercial and residential real-estate loans from other banks at heavy discounts.

Weakest Nevada Banks

There were no Nevada institutions included in TheStreet.com's recent list of

Undercapitalized Banks and Thrifts

as of March 31.

There were four Nevada banks with nonperforming-asset ratios of more than 10% as of March 31.

Free Bank and S&L Ratings

TheStreet.com Ratings issues independent and very conservative financial-strength ratings on the nation's 8,300 banks and savings and loans. These are available at no charge on the

Bank & Thrift Ratings Screener

.

Philip W. van Doorn joined TheStreet.com Ratings., Inc., in February 2007. He is the senior analyst responsible for assigning financial strength ratings to banks and savings and loan institutions. He also comments on industry and regulatory trends. Mr. van Doorn has fifteen years experience, having served as a loan operations officer at Riverside National Bank in Fort Pierce, Florida, and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a Bachelor of Science in business administration from Long Island University.