97 Wisconsin banks included on national list of “vulnerable” institutions
Some of the best-known names in banking have been ranked as vulnerable to financial difficulty or even failure by Weiss Ratings, including 97 Wisconsin-based banks.
Nationally, banks such as Bank of America, Citibank and Wachovia Bank received grades of D or D- by Weiss. The firm says that banks were graded based on a “statistical analysis of each bank’s capital, asset quality, earnings and other factors”.
"Major U.S. banks continue to be plagued by toxic assets and an inability to raise capital," said Martin Weiss, chairman of Weiss Ratings. "Despite the federal government’s help, we’ve witnessed 73 bank failures so far in 2010, more than double last year’s pace – a pattern that is bound to continue as further loan deterioration and regulatory reform take their toll on already-shaky banks. Although most vulnerable banks will not ultimately fail, the failure rate could rise sharply if the U.S. experiences any further economic or financial adversity."
The list includes Wisconsin banks such as:
- AnchorBank (Madison)
- Associated Bank (Green Bay)
- Banks of Wisconsin (Kenosha)
- Baylake Bank (Sturgeon Bay)
- Community Bank & Trust (Sheboygan)
- The Equitable Bank (Wauwatosa)
- First Business Bank, Milwaukee (Brookfield)
- Foundations Bank (Pewaukee)
- Guaranty Bank (Milwaukee)
- InvestorsBank (Waukesha)
- Johnson Bank (Racine)
- Legacy Bank (Milwaukee)
- M&I Bank (Milwaukee)
- Maritime Savings Bank (West Allis)
- Park Bank (Milwaukee)
- RidgeStone Bank (Brookfield)
- Securant Bank & Trust (Menomonee Falls)
- Southport Bank (Kenosha)
- Town Bank (Hartland)
- WaterStone Bank (Wauwatosa)
To see the complete list of banks, click here.
Weiss also published a list of banks rated as “strong.” That list includes 30 Wisconsin banks, including Northwestern Mutual Wealth Management Company, Milwaukee, and Waukesha State Bank, Waukesha. To view the complete list of banks listed as strong, click here.