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Looking to Purchase a Home or Refinance in 2014? Learn What Banks Are the Best and Worst Here!

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When planning a large expense like purchasing a home, a vehicle, or refinancing an existing loan it’s important to pick the right bank to fulfill your needs. We found this article from Forbes that lists the best and worst banks for 2014. We hope it will help you make good decisions for your future banking needs!

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From the article:

This year the U.S. banking industry continued its slow recovery from its nadir in 2010, as banks cleaned up their balance sheets and reduced nonperforming loans and assets. There were only 24 bank failures in 2013, versus 51 last year. Failures peaked at 157 in 2010. The FDIC’s “Problem List” of banks shrank to 515 from 694 a year ago (it was 888 in March 2011).

Yet there is still a broad disparity between the best and worst banks. In order to gauge the financial health of the 100 largest U.S. banks and thrifts, Forbes turned to Charlottesville, Va.-based financial data provider SNL Financial for information on asset quality, capital adequacy and profitability. The data is based on regulatory filings through the third quarter of 2013. SNL provides the data, but the rankings are done by Forbes (click here for a more detailed methodology and a complete ranking of the 100 largest banks).

Leading the way is Prosperity Bancshares, which also ranked first in 2011. The $16 billion bank has 218 locations, with one-quarter of them in the Houston area, where it is headquartered. The bank has only six branches outside of Texas. The share of Prosperity’s loans that are nonperforming (0.1%) and assets that are nonperforming (0.1%) both rank among the three lowest in the banking industry. Its level of reserves/NPLs is an eye-popping 1,144%. Prosperity ranked in the top 10 in five of the nine metrics we evaluated the banks on.

The nation’s biggest bank, JPMorgan Chase JPM +0.94%, ranks No. 54 overall, same as last year. The $2.5 trillion bank fares poorly for its 2% net interest margin (93rd best) and level of NPLs (80th). JPMorgan scores well for its low level of nonperforming assets, and its leverage ratio of 6.9% is second best among the 100 largest banks. The bank settled with the Justice Department for $13 billion last month for its role in the credit and mortgage crisis, bringing total settlements by the six largest banks to $86 billion since 2010, according to SNL. The settlements are not done yet, with Reuters reporting that the Justice Department plans to file civil fraud charges against Citigroup and Bank of America BAC +0.58%’s Merrill Lynch unit for selling “flawed” mortgage securities.

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Looking to sell your home? Checkout this article with home selling tips that could be of interest to you.
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For all the information click here: http://www.forbes.com/sites/kurtbadenhausen/2013/12/19/americas-best-and-worst-banks-2014/

Looking to Purchase a Home or Refinance in 2014? Learn What Banks Are the Best and Worst Here!
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