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Last year more than 702 banks across the nation were in trouble. The FDIC keeps the list and does not reveal the name of the banks experiencing problems. As many bank customers have seen the fallout from other banks that have folded, many continue to worry they will soon be in the same position.

Experts now are saying that while it is true there has been trouble in the banking industry, consumers typically have not much to worry about. They say the banks on the troubled list were small and only held about 3% of the total banking assets. It is also notable that the trouble list held by the FDIC has been longer in the past than in recent times. For instance, 1987 saw more than 2,000 financial institutions having problems and the current list should not be of great concern. Of the 8,000 insured banks in the nation, more than 95% of them are doing well and meeting regulatory standards. In 2010, 20 banks have failed and the FDIC does predict more will fail throughout the rest of the year.

While the list has been established for sometime, history shows that the majority do not fail. However, as the economy recovers in general, it may take the banking industry longer to deal with problems. Banks that deal with commercial real estate may be more susceptible to problems because of the state of the housing market.

If you are worried your bank may be having problems, you should be aware of the facts surrounding what constitutes a safe bank. One thing is to ensure the exact amount of money you have in the bank as the FDIC only insures deposits up to $250,000 per depositor. At the end of 2013, that insurance figure is expected to come down to $100,000. Consumers should also steer clear of banks that work largely in commercial real estate and development loans for the time being.

On the whole, consumers can do research online about the safety of banking institutions rather easily and can also review the annual statements of your bank. On the off chance your bank does fail, customers will still be able to access their cash and no one needs to go in panic mode.

If you are not happy with your current bank due to rising costs and fees, it may be the time to shop for something new. Like many financial obligations, consumers tend to get stuck in a rut and forget that there may be better deals out there if only they step outside and explore what’s new. If you have had the same account for a long time, you may be missing an opportunity to save more and get more by not shopping around at what other banks have to offer.