A recent Wall Street Journal report indicated that there have been unprecedented closures of bank branches in the 12 months ending June 2017. Some 1,700 branches were closed that period, the largest one-year decline ever recorded. And, the pace of additional branch closures continued in the second half of 2017.

Obviously, the motivating forces for such branch closures were savings and efficiencies sought by America’s banks and, even more, the fact that fewer and fewer people make use of branches for their every day banking, preferring to do all transactions on line. In fact, banking like most every other routine activity has moved almost entirely to the internet for the vast majority of people.

So it is not surprising that on-line banking has made it possible and profitable for banks to effect considerable savings on personnel and plant. Reducing the number of branches is just good business sense. And, it is certain that numbers will continue to decline at a fairly rapid pace in the years ahead.

But there is a real social cost that attends this reality. And, that is the role banks, especially local branches, have served for a Century or more for the elderly population. For those in retirement, local bank branches have long been a favorite place to go to get out of the house, to meet share stories with friendly tellers, and to meet others. Bank visits and checking on daily mail deliveries are top on the list for many if not most middle class, especially urban, men and women in their late sixties and beyond. That is as true today as it was years ago. Bank branches provided, very simply, vital sources of human contact.

The elderly are not on the internet regularly, and surely not to manage whatever dollars they have. The loss of a key destination, an excuse to get out, and an opportunity to meet and greet others makes a whole lot of sense at the corporate level, but there are social costs for millions of older Americans.

Over time, some banks will recognize that continuing to fill a social and a community function can in fact continue to be a profitable endeavor. Perhaps they will even find ways to make it a richer experience for an aging society.

Find bank branches near you here.

Find credit unions near you here.

The stock market is coming off of its most recent highs quite dramatically, and CNBC is full of pundits trying to explain its fall and guess about its future.

People who loose money in the market today will no doubt have opportunities to recover their losses over time, depending on their time horizon. The stock market may have moved to an extreme valuation, but it isn’t a fraud or a bubble.

What is clearly a bubble, however, is all of the coins and cryptocurrencies that have popped up. I have been startled to see them advertised on Facebook (Facebook has since taken these ads down) and to see some of my LinkedIn contacts pushing all sorts of obscure worthless digital tokens.

It is also quite startling that the mainstream media has been celebrating bitcoin rather than pointing out where the fraud occurs.

The New York Times had a great article about fraud in the crypt space yesterday, painting a clear picture of the exchanges and the coins as an out-and-out con.

But, let’s not forget that the rest of the mainstream financial media has been celebrating bitcoin.

Bloomberg interviewed a child in his pajamas.

The CNBC Fast Money crowd recently allowed their platform to become an open discussion of bitcoin to etherium.

What is clear from the NY Times’ article is that bitcoin and all of these crypt currencies are going to be publicly exposed as frauds by the SEC and the Commodities Futures Trading Commission. Many their hucksters may even wind up in jail.

There are going to be a lot of people who are going to be hurt and hurt badly in this in this arena. With the mainstream media allowing a fraud to be perpetuated, the only protection for most investors is for bitcoin to go to zero before they are tempted by any of this.

Contact us at contact@bestcashcow.com for more information.The editors of BestCashCow today release the site's list of the five safest banks in each of the 50 States in the country. We’ve compiled the list based on the financial information as of 9/30/2017, the most current information available.

(Please note that Hawaii, Idaho, Nevada, New Hampshire, Oregon, Rhode Island and Vermont each have fewer than 20 registered banks, we have limited our recognition in those States to the two strongest. There are so few registered banks in the District of Columbia that we have not included it in this study).

The list is for informational purposes only. It is not intended to be an endorsement of any bank on the list, or to recommend a deposit or a lending product of one of the banks or any one of the credit union listed. Likewise, no negative inference should be made regarding any bank's omission from the list.

You can see the full list of banks in your State at the bottom of this page.

You can see the full list of credit unions in your State here.

Our Methodology

All credit analysts have their own ways to determine and measure the health of a financial institution. For purposes of this exercise, BestCashCow has chosen to rely on two distinct measures designed to zero in on the safety aspect, as opposed to profitability.

Our first measure is the Texas Ratio. The Texas Ratio compares the outstanding volume of non-performing assets and loans at risk with the amount a bank has on hand to cover any losses (tangible capital equity plus loss reserves). A bank with a ratio that approaches 1-to-1 or 100% is considered to be at risk. Fortunately, the average Texas ratio among US banks stood at 8.32% as of September 30, 2017. We’re looked for banks that are still safer than the average. Therefore, in determining the safest banks in each State in the US, half of our determination is based on how much lower the bank’s Texas ratio is from the average.

You can see the Texas ratio of any bank by going that bank’s bank page and clicking on the “Financial Details” tab.

Our second measure is capitalization. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered. The average capitalization ratio among US banks as of September 30, 2017 was 12.21%. Half of our determination is based on how each bank measures in comparison to that average.

You can also see any bank’s capitalization on the Financial Details tab on their BestCashCow bank page.

For purposes of determining how safe a bank is, we have purposefully refrained from using any determination of size or profitability of any bank. This list does not have a minimum or a maximum size. We have not looked at return on equity or at any sort of balance sheet analysis. A shareholder or an investor would be more concerned with these indicators and should not draw any conclusions from a bank’s inclusion – or exclusion - herein.

The Complete List

Alabama - First Progressive Bank, The Citizens Bank of Winfield, BankSouth, The Farmers and Merchants Bank, Valley State Bank

Alaska - Mt. McKinley Bank, First National Bank of Alaska, First Bank, Denali State Bank, Northrim Bank

Arizona - Republic Bank of Arizona, West Valley National Bank, Pinnacle Bank, Western Alliance Bank, BCN National Bank

Arkansas - The First National Bank of Izard County, De Witt Bank and Trust Company, Logan County Bank, First Security Bank, First Arkansas Bank and Trust

California - Rancho Santa Fe Thrift and Loan Association, California Pacific Bank, First Credit Bank, Community Commerce Bank, EverTrust Bank

Colorado - 5Star Bank, First Colorado National Bank, The Farmers State Bank of Brush, Firzt Pioneer National Bank, City Banks

Connecticut - Stafford Savings Bank, The Torrington Savings Bank, Liberty Bank, Darier Rowayton Bank, Essex Savings Bank

Delaware - BNY Mellon Trust of Delaware, Chase Bank, Wilmington Trust, Santander Bank, Applied Bank

Florida - Grove Bank & Trust, TotalBank, Peoples Bank of Graceville, Fidelity Bank of Florida, Florida Business Bank

Georgia - West Central Georgia Bank, Elberton Federal Savings and Loans, Newton Federal Bank, American Pride Bank, The First National Bank of Waynesboro

Hawaii - First Hawaiian Bank, Ohana Pacific Bank

Idaho - Idaho Trust Bank, Farmers Bank

Illinois - Collinsville Building and Loan Association, The Poplar Grove State Bank, Reynolds State Bank, Streator Home Savings Bank, Liberty Bank for Savings

Indiana - Peoples Savings and Loan Association of Monticello Indiana, The Morris Plan Company of Terre Haute, Farmers and Mechanics Federal Savings Bank, Peoples Trust and Savings Bank, First State Bank of Porter

Iowa - Pocahontas State Bank, Citizens State Bank, First State Bank of Colfax, American Savings Bank, Farmers Trust & Savings Bank

Kansas - Farmers and Drovers Bank, FNB Washington, CBW Bank, The First National Bank of Dighton, Home Savings Bank

Kentucky - Jackson County Bank, First Federal Savings and Loan Association, Blue Grass Savings and Loan Association, Kentucky Farmers Bank Corporation, Dixon Bank

Louisiana - Union Savings and Loan Association, Rayne Building and Loan Association, First National Bank on Benton, Bank of Gueydan, Fifth District Savings Bank

Maine - Franklin Savings Bank, Norway Savings Bank, Kennebec Savings Bank, Bath Savings Institution, Sanford Institution for Savings

Maryland - Homewood Federal Savings Bank, Calvin B. Taylor Banking Company of Berlin, Maryland, EagleBank, The Columbia Bank, Rosedale Federal Savings and Loan Association

Massachusetts - Cape Ann Savings Bank, Walpole Co-operative Bank, Canton Co-operative Bank, North Cambridge, MutualOne Bank

Michigan - Dearborn Federal Savings Bank, First State Bank of Decatur, Eaton Federal Savings Bank, The Port Austin State Bank, Freeland State Bank

Minnesota - The First National Bank of Fairfax, The First National Bank of McIntosh, State Bank of Wheaton, Marshall County State Bank, The Wanda State Bank

Mississippi - First Federal Savings and Loan Association. The Jefferson Bank, Resonant Bank, First National Bank of Clarksdale. First State Bank

Missouri - Central Federal Savings and Loan Association of Rolla, Mississippi County Savings and Loan Association, The Mercantile Bank of Louisiana, Missouri, West Plains Savings and Loan Association, Central Bank of Kansas City

Montana - The First State Bank of Shelby, The Yellowstone Bank, Pioneer Federal Savings and Loan Association, 1^st Bank, Three Rivers Bank of Montana

Nebraska - Chambers State Bank, Bank of Lewellen, The First National Bank of Johnson, Adams State Bank, Minden Exchange Bank & Trust Company

Nevada - Charles Schwab Signature Bank, Toyota Financial Savings Bank

New Hampshire - Piscataqua Savings Bank, Salem Co-operative Bank

New Jersey - Somerset Savings Bank, Sun National Bank, KEB Hana Bank USA, Roselle Savings Bank, Kearny Bank

New Mexico - Western Heritage Bank, First New Mexico Bank, Las Cruces, The Citizens Bank of Clovis, Lea County State Bank, Valley Bank of Commerce

New York - First Federal Savings of Middletown, Fulton Savings Bank, Maspeth Federal Savings and Loan Association, Mizuho Bank (USA), Bank of Utica

North Carolina - Piedmont Federal Savings Bank, Roanoke Valley Savings Bank, First Savings and Loan Association, Belmont Federal Savings and Loan Association, Morganton Savings Bank

North Dakota – Ramsey National Bank, Farmers and Merchants State Bank, Horizon Financial Bank, Unison Bank, Security State Bank, Wishek, North Dakota

Ohio - First bank of Ohio, Spring Valley Bank, FDS Bank, The Home Savings and Loan Company of Kenton, Ohio, Valley Central Bank

Oklahoma - Walters Bank and Trust Company, The First Farmers National Bank of Waurika, First State Bank in Temple, Payne County Bank, Washita Valley Bank

Oregon - Umpqua Bank, First Federal Savings and Loan Association of McMinnville

Pennsylvania - Westmoreland Federal Savings and Loan Association, Milton Savings Bank, Liverpool Community Bank, United Savings Bank, BNY Mellon

Rhode Island - Centreville Bank, Citizens Bank

South Carolina - Mutual Savings Bank, Woodruff Federal Savings and Loan Association, First Piedmont Federal Savings and Loan Association of Gaffney, Spratt Savings and Loan Association, Citizens Building and Loan

South Dakota - Richland State Bank, First National Bank, Community Bank, 1st First PREMIER Bank, Financial Bank USA

Tennessee - Elizabethton Federal Savings Bank, Bank of Gleason, Highland Federal Savings and Loan Association, Pinnacle Bank, Citizens Bank

Texas - Oakwood Bank, Brazos National Bank, Citizens 1st Bank, The First National Bank of Aspermont, Citizens National Bank of Crosbyton

Virginia - E*TRADE Savings Bank, United Bank, Old Dominion National Bank, Powell Valley National Bank, Citizens National Bank

Vermont - Northfield Savings Bank, Wells River Savings Bank

Washington State - Yakima Federal Savings and Loan Association, Olympia Federal Savings and Loan Association, SAVIBANK, UniBank, Commencement Bank

Wisconsin - Bank of Alma, The First National Bank of Bangor, Time Federal Savings Bank, WaterStone Bank, Bonduel State Bank

West Virginia - First Peoples Bank, Citizens Bank of Morgantown, Hancock County Savings Bank, The Bank of Monroe, Huntington Federal Savings Bank

Wyoming - Bank of Commerce, First State Bank of Newcastle, Wyoming Bank and Trust, Security State Bank, RSNB Bank

Does It Matter?

2018 marks the 10^th anniversary of the beginning of the most significant financial crisis that the US has experienced in the last 85 years. BestCashCow therefore feels that banks should strive to be not just financially stable, but to be the safest in their state in order to avoid a crisis of anything like the magnitude of the one that we experienced a decade ago.

This list however should be inconsequential for depositors who follow BestCashCow’s advice to remain below FDIC limits for bank deposits (and NCUA insurance for credit union deposits). Learn more about FDIC insurance here.

If you have assets on hand exceeding applicable FDIC limits, you should open multiple accounts in order to stay below limits in any one account. Those who are extremely high net worth should consider a service such as CDARS.

Recognized Banks

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Contact us at contact@bestcashcow.com for more information.