Following important information courtesy of Donna Berger
Executive Director of the Community Advocacy Network (CAN

In today's economic climate, more and more people are asking that
question. Bauer Financial, Inc. has been analyzing the performance of U.S.
banks and credit unions since 1983. Their ratings are based on an analysis
of the 30-page report that each bank must file with government regulators
each quarter. These ratings are updated four times per year: March, June,
September and December.

In the State of Florida Bauer has ranked 314 banks on a scale ranging from
zero to five stars as follows:
5 Stars is Superior
4 Stars is Excellent
3.5 Stars is Good
3 Stars is Adequate
2 Stars is Problematic
1 Star is Troubled
0 Stars is Deeply Distressed

Banks listed by Bauer as Startup are too new to rate and those listed as
Resolved are failed banks.
Florida had 11 zero star banks in the third quarter up significantly from
the previous quarter. Those zero star or deeply distressed banks are:
Bank of Bonifay, Bonifay, FL;
BankUnited FSB, Coral Gables;
Century Bank FSB, Sarasota;
Federal Trust Bank, Sanford;
Integrity Bank, Jupiter;
Ocala National Bank, Ocala;
Ocean Bank, Miami;
Premier American Bank, Miami;
Republic Federal Bank, Miami;
Riverside of the Gulf Coast, Cape Coral; and
Vision Bank, Panama City

In the third quarter, the number of one star or troubled banks in Florida
are:
Centerbank of Jacksonville;
Commerce Bank of Southwest Florida, Fort Myers;
Community National Bank of Sarasota County, Venice;
Flagship National Bank, Bradenton;
Florida Community Bank, Immokalee; and
Peoples First Community Bank, Panama City

35 banks were declared two star or problematic banks:

Bank of Miami, Coral Gables;
Bayside Savings Bank, Port St. Joe;
Beach Community Bank, Fort Walton Beach;
Coastal Community Bank, Panama City Beach;
Community Bank of Cape Coral;
Community Bank of Manatee, Bradenton;
Espirito Santo Bank, Miami;
First Commercial Bank of Tampa Bay, Tampa;
First Guaranty Bank & Trust of Jacksonville;
First National Bank of Florida, Milton;
First Peoples Bank, Port St. Lucie;
Florida Capital Bank, Jacksonville;
Great Florida Bank, Miami;
Gulf State Community Bank, Carrabelle;
Haven Trust Bank of Florida, Ponte Vedra Beach;
Hillcrest Bank Florida, Naples;
Horizon Bank, Bradenton;
Key West Bank, Key West;
Liberty Bank, Naples;
Marco Community Bank, Naples;
Oceanside Bank, Jacksonville Beach;
Oculina Bank, Fort Pierce;
Old Harbor Bank, Clearwater;
Olde Cypress Community Bank, Clewiston;
Orion Bank, Naples;
Partners Bank, Naples;
Peninsula Bank, Englewood;
Prosperity Bank St. Augustine;
Riverside Bank of Central Florida, Fort Pierce;
Royal Palm Bank of Florida, Naples;
Security Bank, North Lauderdale;
Sun American Bank, Boca Raton;
Synovus Bank of Tampa Bay, St. Petersburg; and
Vanguard Bank and Trust, Valparaiso

To find out your bank's rank, go to www.bauerfinancial.com.

Considering the number of Florida banks listed in distressed,troubled and
problematic condition, now might be a good time to revisit the topic of
federal deposit insurance and whether or not it can provide you with some
peace of mind.

Congress created the Federal Deposit Insurance Corporation (FDIC) in 1933
to restore public confidence in the nation's banking system. The FDIC
insures deposits at 8,384 banks and savings associations throughout the
United States. The FDIC receives no federal tax dollars but is instead
funded by insured financial institutions.

On October 3, 2008, the FDIC temporarily increased deposit insurance from
$100,000 to $250,000 per depositor through December 31, 2009. The
insurance limit is scheduled to return to $100,000 starting in 2010 but
will not affect certain retirement accounts which will continue to be
protected up to $250,000. Moreover, a depositor may qualify for more than
the basic insurance coverage at one insured bank if the funds are held in
different "ownership categories" such as single accounts, joint accounts,
certain retirement accounts and trust accounts.

In a recent press release, the FDIC announced the results of its "Wealth
in America" survey which gauged the confidence level of depositors. The
survey found that 32% of depositors said they were totally confident that
their money is safe, 33% said they were mostly confident, 20% were only
somewhat confident, 11% were not confident that their money is safe and 4%
said they weren't sure.

For more information about FDIC coverage, please call toll-free at
1-877-ASK-FDIC (1-877-275-3342) or go to the FDIC website at
www.myFDICinsurance.gov. A Spanish version is available at
www.fdicseguro.gov.

Knowledge is power so stay informed!

Donna D. Berger, Esq.
Executive Director of the Community Advocacy Network (CAN)

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To read my Sunday, Dec. 21 article that appeared in the Sun-Sentinel CLICK HERE.

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