McCain's son resigns from Silver State Bank board

ReviewJournal is reporting McCain's son resigns from boards of Henderson bank.

Silver State Bancorp, the Henderson-based holding company for the similarly named bank, reported that Andrew McCain, son of Republican presidential candidate John McCain, resigned today from the boards of directors of the bank and bank holding company.

The company cited “personal reasons” for McCain’s resignation, and a Silver State spokesman declined further comment.

Gettin' While The Gettin' Is Good?

I was not even going to report on this until I looked up Silver State Bank on bankrate.com.

Silver State Bank Financial Summary



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Silver State Safe & Sound?



In a word, No.

Notes on Safe & Sound® star ratings, CAEL rating

The most desirable Safe & Sound® CAEL rating is one, the least desirable is five, in accordance with industry standards. Bankrate.com has reversed this order in its graphic rankings for easy visual recognition. The top star rating is five, the lowest star rating is one. Performing institutions will generally receive a rating of 3 or better stars with the majority of banks falling into the 3-4 star range. By contrast, the performing Safe & Sound CAEL range would be 1, 2 and 3 with the majority of institutions falling into the 2 range.

The Street.Com has a bank rating service that they bought from Weiss. However, Silver State Bank was not listed. Furthermore, I could not get that page to work in Firefox. Your results may vary.

Strongest Banks As Of 2008-06-20



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Weakest Banks As Of 2008-06-20



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The above charts of Strongest and Weakest Banks and Thrifts are courtesy of the Street.Com.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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