Seventeen banks that operate in the Sacramento region are more vulnerable to a significant economic shock, compared to other much stronger banks. Weiss Ratings said almost 2,300 banks nationwide — which represent almost 44 percent of the nation’s total assets — could fail with another industry meltdown, like what happened in fall 2008.
The region’s list includes banking giants Bank of America and Citibank, but also much-smaller and locally based institutions, including American River Bank, Bank of Sacramento, Community Business Bank, Granite Community Bank, River City Bank and Sierra Vista Bank. Weiss warns consumers that the “vulnerable” banks are not in immediate trouble, but could face major problems with a bad economy and more toxic assets. Less than 1,000 banks were listed as strong nationwide.
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Business Journal: 17 Sacramento-area Banks Get Poor Rating
A bank-ratings company has given low scores to more than a dozen banks in the Sacramento region.
By
Ron Trujillo
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Wednesday, May 26, 2010