The Strength of the Iowa Banking Industry
Iowa banks are highly capitalized and prepared for economic fluctuations. Iowa’s Superintendent of Banking reports that Iowa banks’ capital-to-asset ratio is 9.5% which is substantially higher than the national average. Ninety-five percent of Iowa banks are rated in the top two categories on a 1-5 scale and there are no five rated banks.
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Customers’ deposits in Iowa banks are protected. All deposits are insured by the FDIC. The Emergency Economic Stabilization Act of 2008 signed into law by President Bush on October 3, 2008, temporarily increases the basic FDIC insurance coverage amount per depositor from $100,000 to $250,000 until December 31, 2009. For more information, refer to the FDIC website
(www.fdic.gov).