Altabank

Our records indicate that this bank has been acquired by Glacier Bank.

Headquarters

33 East Main Street
American Fork, UT 84003
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 5.50% →
1-Year CD N.A. 4.80% →
2-Year CD N.A. 4.25% →
5-Year CD N.A. 4.00% →
30-Year Mortgage N.A. 4.91% →
15-Year Mortgage N.A. 4.39% →
HELOC N.A. 0.99% →

2024 Overview

General Bank Information

Altabank is an FDIC insured institution located in American Fork, UT. It was founded in 1913 and has approximately $3.65 billion in assets. Customers can open an account at one of its 31 branches.

FDIC Insured Yes
FDIC Certificate # 12773
Date Established 1913
Assets $ 3.54 billion
Loans $ 1,878.41 million
Deposits $ 3.28 billion
Capital $ 355.56 million
 

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

Deposit Rates - November 8, 2024

Your Current Location: Virginia, VA 20146


Loan Rates - November 8, 2024

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Altabank

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




Featured - Virginia 30 Year Fixed Mortgage Rates 2024

Lender APR Rate (%) Monthly
Payment
Learn More
Mutual of Omaha Mortgage, Inc.
NMLS ID: 1025894
6.867% 6.750%
1.00 points
$3,852 fees
$2,076 Learn More
Rocket Mortgage
NMLS ID: 3030
7.200% 7.125%
0.75 points
$2,400 fees
$2,156 Learn More
Neighbors Bank
NMLS ID: 491986

points
fees
Learn More
CrossCountry Mortgage
NMLS ID: 3029

points
fees
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Featured - Virginia Home Equity Line Of Credit Rates 2024

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
Intro APR 7.490 %
After Intro: 7.490 %
$0 Learn More
More Info

Note to Altabank
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Branches

Altabank 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:
Ashburn,Virginia



Climate Policy and Initiatives

Altabank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.


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Financial Details

Altabank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Altabank. 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
Altabank U.S. Bank Average
1.44% 4.48%

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 June 30, 2024, Altabank had $5,605,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $355,563,000 in equity and $34,794,000 in loans loss reserves. That gives it a Texas Ratio of 1.44%.

Return on Equity
Altabank U.S. Bank Average
13.08% 10.46%

Altabank has a Return on Equity of 13.08% versus the BestCashCow average of 10.46%. 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
Altabank U.S. Bank Average
10.04% 10.84%

Altabank has a Capitalization of 10.04% versus the BestCashCow average of 10.84. 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.

Altabank Balance Sheet Analysis

As of September 30, 2021, Altabank had assets of $3,648,859,000, loans of $1,878,412,000, and deposits of $3,279,164,000. 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

June 30, 2024
ASSETS
Cash & Balances due from depository institutions $ 1,623.82 million
Interest-bearing balances $ 1,587.77 million
Total securities $ 6.86 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 1,878.41 million
Loan loss allowance $ 34.79 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 28.76 million
All other assets $ 76.69 million
     Total Assets $ 3.29 billion
LIABILITIES
Total deposits $ 3.28 billion
      Interest-bearing deposits $ 2.07 billion
      Deposits held in domestic offices $ 3.28 billion
      % insured (estimated) 55.07%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 14.13 million
      Total Liabilities $ 3.29 billion
      Shareholders’ Equity $ 247.87 million

Summary Income Statement

June 30, 2024
INCOME AND EXPENSES
Total Interest Income $ 80.53 million
Total Interest Expense $ 4.48 million
Net interest income $ 76.06 million
Provision for loan and lease losses N.A.
Total non interest income $ 17.64 million
Total non interest expense $ 66.47 million
Pre-tax Net Operating Income $ 32.23 million

Bank Loan Profile?

The top three loan types in Altabank’s loan portfolio are Commercial Real Estate, Construction and Development Loans, and 1-4 Family Residential Loans.

Compared to other banks in Utah, Altabank has a significantly higher percent of 1-4 Family Residential Loans, Multifamily Mortgages, Construction and Development Loans, Commercial Real Estate 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 15.80
Multifamily
Mortgages
8.46
Credit Card Loans 0.10
Consumer Auto Loans 0.26
Small Business Loans 0.00
Construction and Development Loans 16.76
Commercial Real Estate 47.73
Commercial and Industrial Loans 10.16
Farm Loans 0.12

Customer Reviews for Altabank


  • July 12, 2020

    Savings Rates

    124301025


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