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  • Writer's pictureAmi Kassar

AmiSight 5/2: The Health of Your Bank

2024's first FDIC-insured bank to be shut down is Philadelphia-based Republic First Bank, acquired by Lancaster's Fulton Bank. As you may know, there is no advance notice given to the public when a financial institution fails.

 

Choosing a bank that’s the right fit for you is an undeniably significant decision to make as an entrepreneur. Accessibility, lines of credit, available loans, customer service, and associated fees are all considered at the genesis of this decision, but how do you proceed with confidence as time goes on? Much like all healthy relationships, occasional checkups to make sure everything is in good standing can place you in the best position possible as a business owner.

 

Bauer Financial analyzes banks and credit unions for your peace of mind, ranking banks according to a 1–5 star rating system. A variety of reports are available for purchase, such as Due Diligence Performance Reports, LLAMAS, Historical Reports, etc.

 

And anyone impacted by the Republic First shutdown can now find solace in knowing that Fulton is rated at an honorable 5 stars, falling into Bauer's superior category of banks.


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