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Simply Safe Dividends is an investment news letter that I have found very helpful. It focuses on dividend stock portfolios but also analyses hundreds of companies.
The editor just published a "regional bank spreadsheet" with data from dozens of regional banks including BHB ( @Crash )
I think you can access it without a membership. He breaks them down into low medium and high risk and also takes into account risk of increased regulation.
I have the spreadsheet but can't figure out how to copy and paste it here.
Simply Safe Dividends is an investment news letter that I have found very helpful. It focuses on dividend stock portfolios but also analyses hundreds of companies.
The editor just published a "regional bank spreadsheet" with data from dozens of regional banks including BHB ( @Crash )
I think you can access it without a membership. He breaks them down into low medium and high risk and also takes into account risk of increased regulation.
I have the spreadsheet but can't figure out how to copy and paste it here.
THANKS! Very grateful. Thanks for thinking of me. ******* We reviewed 59.....Assuming the Fed's actions (more on that below) minimize the probability of widespread bank runs, we do not anticipate changing many Dividend Safety Scores in response to these events outside of the downgrades we issued this week for First Republic, Zions, and UMB Financial....More downgrades are possible
...That said, these are the banks (in alphabetical order) that have a higher mix of uninsured deposits, larger unrealized investment losses, and/or more exposure to tougher regulations: BHB falls in the "Medium to Low" category. So, as far as they can tell, it's among the safer regional banks.
Bank of New York Mellon ____ 96.5% SVB Financial Group________. 93.9% State Street ________________ 91.2% Signature _________________- 89.7% Northern Trust _____________- 83.1% Citigroup __________________ 77.0% HSBC Holdings ____________ 72.5% First Republic Bank _____-___ 67.7% East West Bancorp ____..____ 65.9% Comerica ____________._____ 62.5%
I asked him why BHB had “NA”:under % uninsured deposits
here is his response which is a bit over my head
BHB's deposit disclosure wasn't as clear to us. I copied in a relevant excerpt from the latest 10-K below, which could imply less than 15% of total deposits are uninsured. But I'm unsure if this is an all-inclusive figure as it feels low.
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30cee1b006c7b7cfbf14560c00bd3d16.png
Estimated uninsured non-maturity deposits were $328.5 million as of December 31, 2022 and $352.9 million as of December 31, 2021. Estimated uninsured time deposits were $13.8 million and $24.6 million as of December 31, 2022 and 2021, respectively. The following table presents the scheduled maturities of time deposits greater than $250 thousand at December 31, 2022:
a46383b59db36ae3365c894ab2fd71ba.png
------ I am sorry the images dont copy but they are from 10-K
Brian is very responsive so he might reply if you ask him. Great newsletter and lots of data but price has gone up a bit.
It is clear to me. May be it didn't fit Editor's narrative of "high" uninsured deposits.
So, (328.5 + 13.8)/3,076.625 = 0.1113, or 11.13%
Some community banks just don't do much uninsured deposits - by choice or by reality. BHB also doesn't seem to use tools such as IntraFi for spreading large deposits around among other FDIC insured banks. Some banks that use IntraFi may state uninsured deposits as those NOT covered by FDIC directly OR through the IntraFi network. www.intrafi.com/solutions/depositors/
Comments
*******
We reviewed 59.....Assuming the Fed's actions (more on that below) minimize the probability of widespread bank runs, we do not anticipate changing many Dividend Safety Scores in response to these events outside of the downgrades we issued this week for First Republic, Zions, and UMB Financial....More downgrades are possible
...That said, these are the banks (in alphabetical order) that have a higher mix of uninsured deposits, larger unrealized investment losses, and/or more exposure to tougher regulations:
BHB falls in the "Medium to Low" category. So, as far as they can tell, it's among the safer regional banks.
Banks With Highest Uninsured Deposit Balances
Bank of New York Mellon ____ 96.5%
SVB Financial Group________. 93.9%
State Street ________________ 91.2%
Signature _________________- 89.7%
Northern Trust _____________- 83.1%
Citigroup __________________ 77.0%
HSBC Holdings ____________ 72.5%
First Republic Bank _____-___ 67.7%
East West Bancorp ____..____ 65.9%
Comerica ____________._____ 62.5%
Source
I asked him why BHB had “NA”:under % uninsured deposits
here is his response which is a bit over my head
BHB's deposit disclosure wasn't as clear to us. I copied in a relevant excerpt from the latest 10-K below, which could imply less than 15% of total deposits are uninsured. But I'm unsure if this is an all-inclusive figure as it feels low.
------
30cee1b006c7b7cfbf14560c00bd3d16.png
Estimated uninsured non-maturity deposits were $328.5 million as of December 31, 2022 and $352.9 million as of December 31, 2021. Estimated uninsured time deposits were $13.8 million and $24.6 million as of December 31, 2022 and 2021, respectively. The following table presents the scheduled maturities of time deposits greater than $250 thousand at December 31, 2022:
a46383b59db36ae3365c894ab2fd71ba.png
------
I am sorry the images dont copy but they are from 10-K
Brian is very responsive so he might reply if you ask him. Great newsletter and lots of data but price has gone up a bit.
It is clear to me. May be it didn't fit Editor's narrative of "high" uninsured deposits.
So, (328.5 + 13.8)/3,076.625 = 0.1113, or 11.13%
Some community banks just don't do much uninsured deposits - by choice or by reality. BHB also doesn't seem to use tools such as IntraFi for spreading large deposits around among other FDIC insured banks. Some banks that use IntraFi may state uninsured deposits as those NOT covered by FDIC directly OR through the IntraFi network.
www.intrafi.com/solutions/depositors/
You reference page 13. But I can see no page numbers anywhere. So, I'll take your word for it.
11.13% of deposits uninsured by FDIC. Sounds palatable, especially these days, in the current hot mess we are in, eh? I smell a BUY in the air....
https://finance.yahoo.com/news/never-put-money-bank-stock-110000539.html