How secure is your bank - KSLA News 12 Shreveport, Louisiana News Weather & Sports

How secure is your bank

By Liz Elan - bio | email

SHREVEPORT, LA (KSLA) - If you bank in the state of Louisiana, a new memo says your money is just about as safe as it can be.
Across the country there's a credit crunch, foreclosed homes, banks closing up and fears of a recession.

The president of 1st Louisiana Bank in Shreveport Ron Boudreaux says "it certainly couldn't be further from the truth as far as what is going on in Louisiana and particularly in Northwest Louisiana."

Boudreaux says unlike the rest of the country, the economy is good and capital is strong thanks in part by the Haynesville Shale.

"Our deposits are up 40 million is the past 90 days," Boudreaux said.

A new memo released by the Financial Commissioner of Louisiana says the state's 162 banks are extremely sound.

"All but 5 are the strongest rating you can possibly have," he said.

Boudreaux says he's received some calls in the past weeks, people worried about their money, their future and the banking industry in general.

"People concerned about money, savings, retirement, IRA's and all types of things, Boudreaux says.

Whatever you plan to do with your green, where you are keeping it in the meantime should be one less thing you have to worry about.

For more information on your bank's rating you can call your banker or log on to fdic.com.

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