JUPITER, Florida (January 16, 2013)—In a sign that the U.S. banking industry continues to improve, Weiss Ratings upgraded the financial strength ratings of 1,814 banks, while downgrading only 350 based on its analysis of third quarter 2012 results. Weiss, the nation’s leading independent provider of bank, credit union and insurance company ratings, analyzed over 7,200 financial institutions.
Weiss Ratings Scale: A=Excellent, B=Good, C=Fair, D=Weak, E=Very Weak Plus sign = top of grade range; minus sign = bottom of grade range
Weiss Ratings recommends that consumers do business with banks rated B+ or higher, regardless of government guarantees. This provides consumers with two layers of protection: the financial strength of the institution on its own merits plus FDIC insurance. Currently, 1,064 banks, or 14.7 percent, are rated B+ or higher, meriting inclusion on the Weiss Recommended List. Meanwhile, the number of weak banks declined, with 21.7 percent of all financial institutions receiving a rating of D+ or lower compared to 26.4 percent of banks the prior quarter. For a complete list of Weiss Ratings’ strongest and weakest banks, visit www.weissratings.com/banklists
About Weiss Ratings, LLC
Weiss Ratings is the nation’s leading independent provider of financial strength ratings on U.S. banks, credit unions and insurance companies as well as sovereign debt ratings. Weiss accepts no payment or other compensation for its ratings from rated institutions. WeissRatings.com
is a destination site to help consumers and professionals make informed financial decisions. It also distributes independent investment ratings on publicly traded companies, mutual funds, and ETFs.