Update: New, Expanded List of Banks Where Your Money is Not Safe

We last posted an unofficial list of troubled banks in October of 2009. Since then, the list has grown to 576 financial institutions with aggregate assets of over $300 billion. Banks have been both added and removed so it’s definitely worth checking out the updated list.

As we wrote in October:

“There are simply too many banking options out there to keep your hard-earned money in a bank that’s already having problems. Several recently failed banks were highlighted before going under, and the depositors could have likely avoided the hassles associated with a bank failure had they taken action sooner.”

Once again, we remind you that the list is put together based on publicly available information pulled from regulator press releases and other news sources.

More details are available in Calculated Risk’s coverage of the problem bank list, as well as in the actual unofficial list.

The Daily Reckoning