Altabank

Headquarters

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

Notable Rates APY Vs.Others
Savings 0.05% 1.05% →
1-Year CD 0.45% 0.95% →
2-Year CD 0.70% 1.05% →
5-Year CD 0.95% 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Altabank is an FDIC insured institution located in American Fork, UT. It was founded in 1913 and has approximately $2.48 billion in assets. Customers can open an account at one of its 31 branches.

FDIC Insured Yes
FDIC Certificate # 12773
Date Established 1913
Assets $ 2.48 billion
Loans $ 1,622.84 million
Deposits $ 2.13 billion
Capital $ 336.13 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 - September 25, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.05% $2,500 $4,999 Learn More
Money Market
0.10% $2,500 $2,999 Learn More
Money Market
0.10% $10,000 $14,999 Learn More
Money Market
0.20% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.10% $10,000 $14,999 Learn More
3 Mo CD
0.20% $100,000 $199,999 Learn More
6 Mo CD
0.20% $10,000 $14,999 Learn More
6 Mo CD
0.35% $100,000 $199,999 Learn More
12 Mo CD
0.25% $10,000 $14,999 Learn More
12 Mo CD
0.45% $100,000 $199,999 Learn More
18 Mo CD
0.30% $10,000 $14,999 Learn More
18 Mo CD
0.55% $100,000 $199,999 Learn More
24 Mo CD
0.45% $10,000 $14,999 Learn More
24 Mo CD
0.70% $100,000 $199,999 Learn More
36 Mo CD
0.55% $10,000 $14,999 Learn More
36 Mo CD
0.80% $100,000 $199,999 Learn More
48 Mo CD
0.60% $10,000 $14,999 Learn More
48 Mo CD
0.85% $100,000 $199,999 Learn More
60 Mo CD
0.65% $10,000 $14,999 Learn More
60 Mo CD
0.95% $100,000 $199,999 Learn More


Loan Rates - September 25, 2020

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 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.815% 2.750% 0.88 $2,102 $1,021 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.990 %
$0 Learn More
More Info

Note to Altabank
To upload and update your bank's rates please register. It is free to register and add rates.

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


Altabank Locations


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
1.75% 6.94%

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 March 31, 2020, Altabank had $6,590,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $336,125,000 in equity and $41,253,000 in loans loss reserves. That gives it a Texas Ratio of 1.75%.

Return on Equity
Altabank U.S. Bank Average
13.29% 7.80%

Altabank has a Return on Equity of 13.29% versus the BestCashCow average of 7.80%. 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
13.57% 12.68%

Altabank has a Capitalization of 13.57% versus the BestCashCow average of 12.68. 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 March 31, 2020, Altabank had assets of $2,476,950,000, loans of $1,622,835,000, and deposits of $2,125,642,000. 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

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 156.38 million
Interest-bearing balances $ 120.18 million
Total securities $ 577.00 million
Federal funds sold and reverse repurchase $ 1.25 million
Net loans and leases $ 1,622.84 million
Loan loss allowance $ 41.25 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 29.11 million
All other assets $ 51.65 million
     Total Assets $ 2.14 billion
LIABILITIES
Total deposits $ 2.13 billion
      Interest-bearing deposits $ 1,388.64 million
      Deposits held in domestic offices $ 2.13 billion
      % insured (estimated) 62.06%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 15.18 million
      Total Liabilities $ 2.14 billion
      Shareholders’ Equity $ 336.13 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 29.38 million
Total Interest Expense $ 2.17 million
Net interest income $ 27.22 million
Provision for loan and lease losses $ 0.65 million
Total non interest income $ 3.99 million
Total non interest expense $ 16.09 million
Pre-tax Net Operating Income $ 14.47 million

Bank Loan Profile?

The top three loan types in Altabank’s loan portfolio are Commercial Real Estate, Construction and Development Loans, and Commercial and Industrial Loans.

Compared to other banks in Utah, Altabank has a significantly higher percent of 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 10.83
Multifamily
Mortgages
4.81
Credit Card Loans 0.24
Consumer Auto Loans 0.36
Small Business Loans 0.00
Construction and Development Loans 16.53
Commercial Real Estate 49.62
Commercial and Industrial Loans 14.54
Farm Loans 0.32

Frequently Asked Questions About Altabank

Branches and Savings

Is Altabank FDIC insured?

Yes. It is covered under FDIC Certificate #12773.

Why does Altabank pay such low interest on savings accounts?

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

Why are Altabank CD rates not competitive?

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

Is Altabank a commercial bank?

Yes

Where are Altabank locations?

See branch locations nearby.

Is Altabank open on Saturdays?

Is Altabank open on Sundays?

What time does Altabank open?

What time does Altabank close?

Are Altabank ATMs Open 24/7?

Do Altabank ATMs accept cash deposits?

Can Altabank customers use other ATMs?

Do Altabank branches have notaries?

Will Altabank notarize my document?

What address for Altabank should I put for incoming ACH transfers?

Will the Altabank branch print checks?

Do Altabank checks expire?

Does Altabank require US citizenship to open account?

Can Altabank close my account?

Does Altabank Report to credit bureaus?

Does Altabank Use Equifax?

What is Altabank's ACH Routing Number?

What is Altabank's SWIFT code?

Products

Does Altabank offer mortgages?

Compare mortgage rates here.

Does Altabank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Altabank offer personal loans?

Compare personal loan rates here.

Does Altabank offer student loans?

Will Altabank cash a check?

Will Altabank redeem a savings bond?

Does Altabank cash savings bonds?

Will Altabank cash money orders?

Can Altabank issue a money order?

Does Altabank do currency exchange?

Background on The Bank

Who owns Altabank?

How long has Altabank been around?

Can Altabank transfer to other banks?

Does Altabank have quick pay?

Does Altabank accept rolled coins?

Will Altabank accept loose change?

Where is Altabank headquarters?

Customer Reviews for Altabank


  • July 12, 2020

    Savings Rates

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