I recently came across a site where you could search your bank’s financial strength rating. There are several sites that provide this service, each having it’s own rating criteria. The Weiss Ratings site that I am referring to states, “Every quarter, we monitor the financial strength of 9,000 commercial banks, savings banks, and savings and loans across the nation. We then issue Financial Strength Ratings based on our analysts’ review of publicly available regulatory filings provided by SNL Financial LC.” The rating provided is in the form of a simple letter grade similar to what you would receive in grade school. I researched their exact grading criteria and could not come up with anything specific.
I would suggest doing a preliminary rating search on your financial institution and if negative results are returned do your own research as to why. Remember, always question the process by which results are given.
Search for your financial institutions ratings here: Weiss Ratings