One in 10 banks or credit unions headquartered in Colorado are troubled or problematic, according to a report from the firm Bauer Financial.  Though it’s slowly improving, Colorado is still near the top nationally for banks with insufficient financial resources or controls.

The good news is that the number of financially strapped banks in Colorado fell slightly in the last quarter of 2014 compared to the same period last year. But the state is still ranked in the top 10 for banks with bad balance sheets.

Two banks received Bauers’ lowest ranking, Advantage Bank in Loveland and Premier Bank in Denver.  Neither answered questions from CPR. The Colorado Bankers Association, in a statement to CPR, argues these bank ratings are suspect and not thorough.

“It would be like a doctor determining your health based on your height and weight only,” the association said.