March 15, 2017: BAUERFINANCIAL, Inc., Coral Gables, FL, the nation’s leading independent bank rating firm, has newly released bank and credit union star ratings available by visiting bauerfinancial.com. Star-ratings on the nation’s 11,000-plus banks and credit unions are free; reports with historical ratings, financial highlights and now featuring peer group comparison graphs start at just $15.
While the vast majority of U.S. banks (and credit unions) are well rated, Bauer’s Troubled and Problematic Bank Report (banks rated 2-stars or below) currently contains 146 banks with assets of $32.9 billion and 734 branches across the country.
Only three states still have double-digit percentages at this low end: Arizona (11.8% are rated 2-stars or less); Georgia (the highest at 12.1%); and New Jersey (10.5%). South Carolina was in that group a year ago but has just 7.1% of its banks rated 2-stars or below at this time. Recommended banks in South Carolina rose from 58.3% a year ago to 75% now. While that’s a huge improvement, it is still well below the national average of 87.6%.
It is important to remember, though, the numbers above are only representative of where the banks are headquartered. All branches of any given bank have the same rating.