Eighty-one American banks failed between October 2000 and April 2009 – four in 2001 and 29 in the first 4 months of 2009. The Federal Deposit Insurance Corporation (FDIC) maintains a list of “problem” thrifts but does not make that list public. According to the FDIC Quarterly Banking Profile, at the end of 2008 there were 252 insured institutions with combined assets of $159 billion.

To find out if your bank might be in trouble, you can read online the financial reports of all the institutions that the FDIC insures. This Web site is provided by the Federal Financial Institutions Examination Council (FFIEC) at cdr.ffiec.gov/public/ManageFacsimiles.aspx. However, it can be difficult for a non-accountant to determine any bank’s condition based on these public reports.

Instead, there are independent Web sites that provide assessments of bank financial condition that are much easier to use. One of them is www.bankrate.com/rates/safe-sound/bank-ratings-search.aspx?t=cb.

In the final analysis, it does not matter what condition your bank is in if your deposits are FDIC insured, as long as your assets do not exceed the limits mandated by U.S. law. Current FDIC limits can be found at: www.fdic.gov. It is vital to verify that your money is protected, because not all financial products sold by FDIC-insured institutions are covered by FDIC insurance.