Milwaukee-based Marshall & Isley Corp. is among the 20 largest U.S. banks that are still vulnerable to financial difficulties or even possible failure, according to a new report by Weiss Ratings.
Twenty months following the $700 billion federal bailout designed to shore up the nation’s largest banks, Weiss Ratings finds that Bank of America, Citibank, Wachovia Bank, HSBC Bank USA, Suntrust Bank, Regions Bank, RBC Citizens, and thousands more are still vulnerable, based on its statistical analysis of each bank’s capital, asset quality, earnings and other factors.
Marshall & Ilsley, the parent company of M&I Bank, received a “D†(weak) grade in the report
Overall, 2,259 U.S. banks and S&Ls, controlling $5.8 trillion, or 43.8 percent of the industry’s total assets, are considered vulnerable, meriting a Weiss Financial Strength Rating of D+ (weak) or lower; while only 962 institutions, with $484 billion, or 3.7 percent of the industry’s assets, are viewed as strong enough to be recommended to consumers, receiving a rating of B+ (good) or higher.
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