Abbeville First Bank, SSB

Headquarters

205 South Main St
Abbeville, SC 29620
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.40% →
1-Year CD N.A. 1.15% →
2-Year CD N.A. 1.26% →
5-Year CD N.A. 1.60% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Abbeville First Bank, SSB is an FDIC insured institution located in Abbeville, SC. It was founded in 1907 and has approximately $0.08 billion in assets. Customers can open an account at one of its 2 branches.

FDIC Insured Yes
FDIC Certificate # 30619
Date Established 1907
Assets $ 78.45 million
Loans $ 47.99 million
Deposits $ 59.02 million
Capital $ 8.33 million
 

For a more detailed analysis of Abbeville First Bank, SSB's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - July 2, 2020

Your Current Location: Connecticut, CT 06828


Loan Rates - July 2, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Abbeville First Bank, SSB

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Connecticut 30 Year Fixed Mortgage Rates 2020

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Payment
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AimLoan.com
NMLS ID: 2890
License#: 13256
3.039% 3.000% 0.50 $1,250 $1,055 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

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4.000 %
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Note to Abbeville First Bank, SSB
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Branches

Abbeville First Bank, SSB branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Fairfield,Connecticut


Abbeville First Bank, SSB Locations


Financial Details

Abbeville First Bank, SSB Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Abbeville First Bank, SSB. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Abbeville First Bank, SSB U.S. Bank Average
2.72% 6.51%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of December 31, 2019, Abbeville First Bank, SSB had $243,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $8,331,000 in equity and $599,000 in loans loss reserves. That gives it a Texas Ratio of 2.72%.

Return on Equity
Abbeville First Bank, SSB U.S. Bank Average
-8.38% 9.41%

Abbeville First Bank, SSB has a Return on Equity of -8.38% versus the BestCashCow average of 9.41%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Abbeville First Bank, SSB U.S. Bank Average
10.62% 12.82%

Abbeville First Bank, SSB has a Capitalization of 10.62% versus the BestCashCow average of 12.82. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Abbeville First Bank, SSB Balance Sheet Analysis

As of December 31, 2019, Abbeville First Bank, SSB had assets of $78,451,000, loans of $47,987,000, and deposits of $59,023,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2019
ASSETS
Cash & Balances due from depository institutions $ 4.35 million
Interest-bearing balances $ 3.42 million
Total securities $ 20.84 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 47.99 million
Loan loss allowance $ 0.60 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 4.82 million
     Total Assets $ 70.12 million
LIABILITIES
Total deposits $ 59.02 million
      Interest-bearing deposits $ 51.71 million
      Deposits held in domestic offices $ 59.02 million
      % insured (estimated) 96.68%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 10.50 million
Subordinated debt N.A.
All other liabilities $ 0.60 million
      Total Liabilities $ 70.12 million
      Shareholders’ Equity $ 8.33 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 3.15 million
Total Interest Expense $ 0.71 million
Net interest income $ 2.44 million
Provision for loan and lease losses $ 0.02 million
Total non interest income $ 0.37 million
Total non interest expense $ 3.84 million
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in Abbeville First Bank, SSB’s loan portfolio are 1-4 Family Residential Loans, Small Business Loans, and Commercial Real Estate.

Compared to other banks in South Carolina, Abbeville First Bank, SSB has a significantly higher percent of 1-4 Family Residential Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 74.33
Multifamily
Mortgages
2.86
Credit Card Loans 0.00
Consumer Auto Loans 0.90
Small Business Loans 13.88
Construction and Development Loans 3.02
Commercial Real Estate 13.88
Commercial and Industrial Loans 5.60
Farm Loans 0.00

Frequently Asked Questions About Abbeville First Bank, Ssb

Branches and Savings

Is Abbeville First Bank, Ssb FDIC insured?

Yes. It is covered under FDIC Certificate #30619.

Why does Abbeville First Bank, Ssb pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Abbeville First Bank, Ssb CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Abbeville First Bank, Ssb a commercial bank?

Yes

Where are Abbeville First Bank, Ssb locations?

See branch locations nearby.

Is Abbeville First Bank, Ssb open on Saturdays?

Is Abbeville First Bank, Ssb open on Sundays?

What time does Abbeville First Bank, Ssb open?

What time does Abbeville First Bank, Ssb close?

Are Abbeville First Bank, Ssb ATMs Open 24/7?

Do Abbeville First Bank, Ssb ATMs accept cash deposits?

Can Abbeville First Bank, Ssb customers use other ATMs?

Do Abbeville First Bank, Ssb branches have notaries?

Will Abbeville First Bank, Ssb notarize my document?

What address for Abbeville First Bank, Ssb should I put for incoming ACH transfers?

Will the Abbeville First Bank, Ssb branch print checks?

Do Abbeville First Bank, Ssb checks expire?

Does Abbeville First Bank, Ssb require US citizenship to open account?

Can Abbeville First Bank, Ssb close my account?

Does Abbeville First Bank, Ssb Report to credit bureaus?

Does Abbeville First Bank, Ssb Use Equifax?

What is Abbeville First Bank, Ssb's ACH Routing Number?

What is Abbeville First Bank, Ssb's SWIFT code?

Products

Does Abbeville First Bank, Ssb offer mortgages?

Compare mortgage rates here.

Does Abbeville First Bank, Ssb offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Abbeville First Bank, Ssb offer personal loans?

Compare personal loan rates here.

Does Abbeville First Bank, Ssb offer student loans?

Will Abbeville First Bank, Ssb cash a check?

Will Abbeville First Bank, Ssb redeem a savings bond?

Does Abbeville First Bank, Ssb cash savings bonds?

Will Abbeville First Bank, Ssb cash money orders?

Can Abbeville First Bank, Ssb issue a money order?

Does Abbeville First Bank, Ssb do currency exchange?

Background on The Bank

Who owns Abbeville First Bank, Ssb?

How long has Abbeville First Bank, Ssb been around?

Can Abbeville First Bank, Ssb transfer to other banks?

Does Abbeville First Bank, Ssb have quick pay?

Does Abbeville First Bank, Ssb accept rolled coins?

Will Abbeville First Bank, Ssb accept loose change?

Where is Abbeville First Bank, Ssb headquarters?

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