Illinois Banks and S&Ls with Nonperforming Assets Exceeding 15% (in Millions of Dollars)
Source: SNL Financial
Free Bank and S&L Ratings
Last year, the FDIC curtailed the likelihood of bank failures by temporarily increasing the agency's basic limit on individual deposit insurance coverage to $250,000 from $100,000. The increase has been extended through 2013. The FDIC also temporarily waived all deposit-insurance limits for business-transaction accounts (checking accounts). That waiver is set to expire on June 30, 2010, after which business-checking accounts will revert to the $100,000 limit. That means it will be more important than ever for business and municipal entities such as school districts to carefully monitor the health of their banks. It's easy to have more than $100,000 of somebody else's money flowing through a business account. TheStreet.com Ratings issues independent and very conservative financial-strength ratings on the nation's 8,500 banks and savings and loans. They are available at no charge on the Banks & Thrifts Screener. -- Reported by Philip van Doorn in Jupiter Fla.