Whether Willie Sutton said it or not, banks are where the money is
By Dian Vujovich
Most of us have a bank account. At least one. So it makes sense to know which banks are the best around. Right? That must be what Forbes’ editors thought when they came up with a list of the best and the worst.
But before getting into the details, not everyone loves banks. It’s estimated that about 17 million of us don’t have bank accounts for various reasons. That’s according to 2009 data from the Federal Deposit Insurance Corp.
For the rest of us, these institutions do play a serious role in our personal lives and the economy. Even so, they do indeed have a shady side.
According the Forbes.com piece, over 150 banks have failed so far this year. In 2009, 140 bellied up. Compare that with the fact that only 98 banks failed in the 15 yeas previous and one’s got to wonder about a number of things. Primarily, what’s going on here?
No simple answer to that question. But as far as the best banks go, names in the Top 10 include the Bank of Hawaii, East West Bancorp in Pasadena and Commerce Banschares and UMB Financial in Kansas City.
Whitney Holding in New Orleans and Wilmington Trust in Wilmington are among the worst.
Read more and see the entire list of the best and worst banks at: www. http://tinyurl.com/2cpt5wu .
To read more articles, please visit the column archive.