We've been called a lot of things through the years but no one ever called us cockeyed optimists. However, our January prediction about the number of banks that might fail in 2009 looks downright Pollyanna-ish now.

We estimated that things might get bad enough in the banking sector to see 100 banks fail by the end of the year. Yet here we are with a little more than 2 ½ months to go and the FDIC has stepped in to close 98 banks already.

We'll probably hit our mark this coming Friday, since Fridays are the days on which the FDIC does its shutdowns.

Although the FDIC constantly reminds us that each individual account is covered up to $250,000 of insurance and other banks usually step in to take over for the failed bank, that doesn't mean there aren't risks when your bank fails.

For example, there is no guarantee that a high-paying CD yield will continue when the new owner steps in or that the new bank will continue to make loans.  Plus, there are simply some things the FDIC doesn't cover. 

Then there is that little matter of the FDIC being in the red itself! That's right, the guarantor of the insurance on those accounts is out of money.

That might be the next government bailout to come down the pike. But that's a crisis for another day.

Here's what we want you to do now:

1.  Check your bank's safety rating. It's easy to do-we'll walk you through it.

2.  Make sure your bank accounts are fully protected by the FDIC.

3.  Be on the lookout for the warning signs your bank might be in trouble.

We may have been a tad optimistic about the number of bank failures this year. But don't you be too optimistic about the strength of your bank.

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