Area Bank

Headquarters

225 Main Street
Rosiclare, IL 62982
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.91% →
1-Year CD N.A. 0.85% →
2-Year CD N.A. 0.95% →
5-Year CD N.A. 1.30% →
30-Year Mortgage N.A. 2.61% →
15-Year Mortgage N.A. 2.31% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Area Bank is an FDIC insured institution located in Rosiclare, IL. It was founded in 1920 and has approximately $0.1 billion in assets.

FDIC Insured Yes
FDIC Certificate # 9641
Date Established 1920
Assets $ 103.98 million
Loans $ 25.55 million
Deposits $ 95.07 million
Capital $ 8.46 million
 

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

Deposit Rates - November 23, 2020

Your Current Location: Connecticut, CT 06828


Loan Rates - November 23, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Area Bank

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

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
First Internet Bank
NMLS ID: 424182
2.560% 2.500% 0.75 $1,978 $988 Learn More
AmeriSave Mortgage Corporation
NMLS ID: 1168
2.588% 2.500% 1.00 $2,902 $988 Learn More

Featured - Connecticut 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
2.240 %
$0 Learn More
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People's United Bank, N.A.
People's United Bank, N.A.
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4.000 %
$0 Learn More
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Note to Area Bank
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Branches

Area Bank 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


Area Bank Locations


Financial Details

Area Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Area Bank. 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
Area Bank U.S. Bank Average
9.22% 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, Area Bank had $161,000 in non-current loans and $656,000 in owned real estate. To cover these potential losses it had $8,455,000 in equity and $405,000 in loans loss reserves. That gives it a Texas Ratio of 9.22%.

Return on Equity
Area Bank U.S. Bank Average
5.88% 7.80%

Area Bank has a Return on Equity of 5.88% 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
Area Bank U.S. Bank Average
8.13% 12.68%

Area Bank has a Capitalization of 8.13% 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.

Area Bank Balance Sheet Analysis

As of September 30, 2014, Area Bank had assets of $103,977,000, loans of $25,548,000, and deposits of $95,069,000. 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 N.A.
Interest-bearing balances N.A.
Total securities N.A.
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 25.55 million
Loan loss allowance $ 0.41 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.66 million
Goodwill and other intangibles N.A.
All other assets N.A.
     Total Assets N.A.
LIABILITIES
Total deposits $ 95.07 million
      Interest-bearing deposits N.A.
      Deposits held in domestic offices N.A.
      % insured (estimated) 0.00%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities N.A.
      Total Liabilities N.A.
      Shareholders’ Equity $ 103.98 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income N.A.
Total Interest Expense N.A.
Net interest income N.A.
Provision for loan and lease losses N.A.
Total non interest income N.A.
Total non interest expense N.A.
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in Area Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial and Industrial Loans, and Commercial Real Estate.

Compared to other banks in Illinois, Area Bank has a significantly higher percent of Small Business Loans, Commercial and Industrial 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 38.95
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 1.79
Small Business Loans 8.55
Construction and Development Loans 0.39
Commercial Real Estate 12.35
Commercial and Industrial Loans 28.05
Farm Loans 4.09

Frequently Asked Questions About Area Bank

Branches and Savings

Is Area Bank FDIC insured?

Yes. It is covered under FDIC Certificate #9641.

Why does Area Bank pay such low interest on savings accounts?

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

Why are Area Bank CD rates not competitive?

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

Is Area Bank a commercial bank?

Yes

Where are Area Bank locations?

See branch locations nearby.

Is Area Bank open on Saturdays?

Is Area Bank open on Sundays?

What time does Area Bank open?

What time does Area Bank close?

Are Area Bank ATMs Open 24/7?

Do Area Bank ATMs accept cash deposits?

Can Area Bank customers use other ATMs?

Do Area Bank branches have notaries?

Will Area Bank notarize my document?

What address for Area Bank should I put for incoming ACH transfers?

Will the Area Bank branch print checks?

Do Area Bank checks expire?

Does Area Bank require US citizenship to open account?

Can Area Bank close my account?

Does Area Bank Report to credit bureaus?

Does Area Bank Use Equifax?

What is Area Bank's ACH Routing Number?

What is Area Bank's SWIFT code?

Products

Does Area Bank offer mortgages?

Compare mortgage rates here.

Does Area Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Area Bank offer personal loans?

Compare personal loan rates here.

Does Area Bank offer student loans?

Will Area Bank cash a check?

Will Area Bank redeem a savings bond?

Does Area Bank cash savings bonds?

Will Area Bank cash money orders?

Can Area Bank issue a money order?

Does Area Bank do currency exchange?

Background on The Bank

Who owns Area Bank?

How long has Area Bank been around?

Can Area Bank transfer to other banks?

Does Area Bank have quick pay?

Does Area Bank accept rolled coins?

Will Area Bank accept loose change?

Where is Area Bank headquarters?

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