BestCashCow has created a bank loan profile for every FDIC insured bank in the United States. The Bank Loan Profile provides a quick snapshot of the types of loans a bank has made in the past and kept on its balance sheet. It then compares this profile to other banks in the same state to get an idea of how a bank's lending compares to its peers.
% Loans divides the amount of loans a bank has on its balance sheet for each category divided by the total loans for the bank. Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types.
% Comparison to other banks compares the % Loans to the average percent for the bank’s state. A High rating means the bank has a significantly higher % Loans than other banks in its state and may specialize in that loan category.
Banks often sell certain types of loans - residential mortgage, auto loans, credit card loans - so these numbers are not an exact measure of a bank's lending, but serve as one indicator of a bank's loan past loan history.
How Can You Use This Information?
The Bank Loan Profile can be used to get an idea of the types of loans a bank has made in the past and may make in the future. If you were looking for a commercial loan, or a small business loan, or a residential mortgage, it makes sense to start with a bank that actually does that type of lending. While the Profile data is not exact, it is directional, and a good place to start in researching where to get a loan. By comparing a bank's profile to other banks in its state, it is possible to see which banks might specialize in an area of lending over and above other banks. For example, a bank whose loan portfolio consists of 90% residential mortgages might be more focused on home loans than a bank whose portfolio is only 10% residential mortgages.
BestCashCow FirstStep Loan Finder
BestCashCow has also developed a FirstStep Loan Finder which provides a sorted list by zip code and state for borrowers to find lenders who specialize in a certain type of lending, based on the FDIC data.
For additional questions or comments about these tools, please email us at contact (at) bestcashcow.com or leave a comment below.