Which banks are most likely to fail?
Historically, small banks are more likely to fail than large banks because they concentrate on regional lending, have fewer revenue streams to diversify risk and possess less capital to absorb losses. However, robust regulatory oversight and FDIC insurance help mitigate the risk to depositors.
SHFS | SHF Holdings | $0.50 |
---|---|---|
WAL | Western Alliance | $27.32 |
ECBK | ECB Bancorp | $11.24 |
PACW | PacWest Bancorp | $5.97 |
FFWM | First Foundation | $4.35 |
Bank NameBank | CityCity | Closing DateClosing |
---|---|---|
Heartland Tri-State Bank | Elkhart | July 28, 2023 |
First Republic Bank | San Francisco | May 1, 2023 |
Signature Bank | New York | March 12, 2023 |
Silicon Valley Bank | Santa Clara | March 10, 2023 |
- First Republic Bank (FRC) . Above average liquidity risk and high capital risk.
- Huntington Bancshares (HBAN) . Above average capital risk.
- KeyCorp (KEY) . Above average capital risk.
- Comerica (CMA) . ...
- Truist Financial (TFC) . ...
- Cullen/Frost Bankers (CFR) . ...
- Zions Bancorporation (ZION) .
2024 in Brief
There are no bank failures in 2024. See detailed descriptions below.
- Wells Fargo. BBB customer review rating: 1.06/5. ...
- Credit One. BBB customer review rating: 1.11/5. ...
- Bank of America. BBB customer review rating: 1.06/5. ...
- Chase Bank. BBB customer review rating: 1.1 / 5. ...
- US Bank. BBB customer review rating: 1.1 / 5.
Three banks in the U.S. (Silicon Valley Bank, Signature Bank and Silvergate) have collapsed since early March. The collapses of Silicon Valley Bank and Signature Bank are the two biggest bank failures since 2008.
1. JPMorgan Chase. JPMorgan Chase, or Chase Bank, is the biggest bank in America with nearly $3.4 trillion in assets. It boasts a vast network of over 4,800 physical branches and more than 15,000 ATMs.
Your money is safe at Capital One
Capital One, N.A., is a member of the Federal Deposit Insurance Corporation (FDIC), an independent federal agency. The FDIC insures balances up to $250,000 held in various types of consumer and business deposit accounts.
Fitch Affirms Capital One at 'A-'/'F1'; Outlook Stable. Fitch Ratings - New York - 21 Feb 2024: Fitch Ratings has affirmed Capital One Financial Corporation's (COF) Long- and Short-Term Issuer Default Ratings (IDRs) at 'A-' and 'F1', respectively, and has affirmed the bank's Viability Rating (VR) at 'a-'.
Which bank has a bad reputation?
Wells Fargo is the worst bank overall, with a high percentage of unresolved complaints and loss of Better Business Bureau accreditation. Citibank has a string of high-profile cases involving operational chaos and regulatory fines.
JPMorgan Chase, the financial institution that owns Chase Bank, topped our experts' list because it's designated as the world's most systemically important bank on the 2023 G-SIB list. This designation means it has the highest loss absorbency requirements of any bank, providing more protection against financial crisis.
Silicon Valley Bank (SVB), the 16th largest bank in the country, collapsed in a matter of days, followed by Signature Bank (SBNY) and First Republic Bank (FRB), marking the largest bank failures after Washington Mutual Bank in 2008.
Overall, Bank of America appears to be in a relatively healthy financial position and is not currently in imminent danger of collapse.
Still, the FDIC itself doesn't have unlimited money. If enough banks flounder at once, it could deplete the fund that backstops deposits. However, experts say even in that event, bank patrons shouldn't worry about losing their FDIC-insured money.
A run on deposits (leaving the bank without the cash to pay customer withdrawals). Too many bad loans/assets that fall sharply in value (eroding the bank's capital reserves). A mismatch between what the bank can earn on its assets (primarily loans) and what it has to pay on its liabilities (primarily deposits).
J.P. Morgan Chase is the number one bank in America in terms of total assets held, according to the Federal Reserve.
Bank | The Ascent's Rating | FDIC Insured? |
---|---|---|
Western Alliance Bank | 4.25 | Yes |
SoFi | 4.00 | Yes |
Wells Fargo | 4.00 | Yes |
Axos Bank | 3.50 | Yes |
- Capital One 360 Checking: Best online checking account.
- Chase Total Checking®: Best for a large branch network.
- Axos Bank Rewards Checking: Best for online account options.
- Discover® Bank: Best for doing all of your banking at one place.
- Synchrony Bank: Best high-yield savings account.
Bank failures happen more often than you might think—there have been 568 in the U.S. since January 1, 2000. That's an average of almost 25 per year. But the back-to-back collapses of Silicon Valley Bank (SVB) and Signature Bank in early 2023, followed by First Republic Bank in May, were unique in more ways than one.
How many US banks are in trouble right now?
Recently, a report posted on the Social Science Research Network found that 186 banks in the United States are at risk of failure or collapse due to rising interest rates and a high proportion of uninsured deposits.
US eases restrictions on Wells Fargo after years of strict oversight following scandal. NEW YORK (AP) — The Biden administration eased some of the restrictions on banking giant Wells Fargo, saying the bank has sufficiently fixed its toxic culture after years of scandals.
1. JP Morgan Private Bank. “J.P. Morgan Private Bank is known for its investment services, which makes them a great option for those with millionaire status,” Kullberg said. “With J.P. Morgan, each client is given access to a panel of experts, including experienced strategists, economists and advisors.”
RANK | BANK NAME | PREVIOUS RANK |
---|---|---|
1 | JPMorgan Chase | 1 |
2 | Bank of America | 2 |
3 | Wells Fargo | 4 |
4 | Citigroup | 3 |
What bank operates in all 50 states? No bank currently operates a branch location in all 50 states, though several of the nation's largest institutions come close.
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