Checking a small local bank for stability

[Peter Comb]

I am looking to take out some conventional loans with a small local bank. Any ideas how to do some due diligence on them?

thanks

[Linda Weygant]

If they are publicly held, you can look at their financial statements either through their investor liasion or through the EDGAR system:

https://www.sec.gov/edgar/searchedgar/companysearc...

If they are not publicly held, you can ask about their financial statements, but they are unlikely to give them to you.  

If it's a US Bank, any funds held are FDIC insured up to 100,000 per depositor. If the bank goes under while it's holding your mortgage, rest assured that somebody else will pick up the servicing and holding of that note, so it's really no skin off your nose if they do go belly up.