Earlier this year I moved a sizeable amount of my cash (low five figures at the time) from Guaranty Bank to Broadway Bank. BankRate was looking slim for Guaranty at the time, and I didn’t want to be caught trying to collect FDIC insurance on my own. Looks like I made the right decision.

A couple of weeks ago Guaranty Bank failed. It wasn’t the only bank failure on that Friday (the 21st of August), but it was the largest. Guaranty’s demise was the second largest bank failure of the year, next to Colonial Bank in Alabama.

Read the rest of this entry »

Tags: , , , , , ,