What is FDIC BankFind?
FDIC BankFind (https://banks.data.fdic.gov/bankfind-suite/bankfind) is a free database offered by the Federal Deposit Insurance Corporation (FDIC). The FDIC BankFind provides general information about FDIC-insured financial institutions. Both consumers and bank staff can utilize this tool for decision-making purposes.
Information Supplied by FDIC BankFind
FDIC BankFind offers a concise snapshot of a financial institution, including:
- Status (active or inactive)
- Website address
- Headquarter location
- Number of locations
- States in which branches are located
- Year established
- Name changes
- FDIC certificate number
Note: For financials, check out the FDIC’s Institution Directory (ID): https://www7.fdic.gov/idasp/advSearchLanding.asp.
Consumers: FDIC BankFind simplifies the process for consumers who are performing due diligence on a financial institution. Consumers want to know they are depositing their money with sound financial institutions, and the FDIC BankFind provides helpful information to make an informed decision.
Financial Institutions: Banking professionals also use FDIC BankFind, particularly when it comes to:
- Loan participations – Bankers may consult FDIC BankFind to research another bank before entering into a potential loan participation agreement. For example, State Bank may offer to sell ABC Bank part of a loan. Decision-makers at ABC Bank could quickly access FDIC BankFind to determine if State Bank is well-run and whether they feel comfortable accepting the deal. Likewise, a financial institution seeking to sell a participation could explore BankFind to identify banks to approach.
- Peer comparison – Bankers may also turn to FDIC BankFind to measure their own financial institution against competitors in terms of:
- Return on investment
- Return on assets
- Return on equity
- Total deposits
- Total loan amounts
- Market share
For more information about best practices in financial institutions, be sure to check out our extensive resource library with free spreadsheets, whitepapers, and ebooks.
Browse our banking definitions page for more terminology.
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