Armstrong Bank

Headquarters

1215 W Okmulgee St
Muskogee, OK 74401
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.15% 1.40% →
1-Year CD 0.75% 1.15% →
2-Year CD 0.90% 1.26% →
5-Year CD 1.11% 1.56% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Armstrong Bank is an FDIC insured institution located in Muskogee, OK. It was founded in 1910 and has approximately $1.67 billion in assets. Customers can open an account at one of its 22 branches.

FDIC Insured Yes
FDIC Certificate # 2315
Date Established 1910
Assets $ 1,673.15 million
Loans $ 1,106.13 million
Deposits $ 1,482.94 million
Capital $ 182.81 million
 

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

Deposit Rates - July 14, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.15% $50 - Learn More
Money Market
0.15% $2,500 $9,999 Learn More
Money Market
0.30% $10,000 $49,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.25% $10,000 $14,999 Learn More
3 Mo CD
0.35% $100,000 $199,999 Learn More
6 Mo CD
0.30% $10,000 $24,999 Learn More
6 Mo CD
0.65% $100,000 - Learn More
12 Mo CD
0.60% $10,000 $24,999 Learn More
12 Mo CD
0.75% $100,000 $249,999 Learn More
18 Mo CD
0.62% $10,000 $24,999 Learn More
18 Mo CD
0.85% $100,000 $249,999 Learn More
24 Mo CD
0.70% $10,000 $24,999 Learn More
24 Mo CD
0.90% $100,000 $249,999 Learn More
30 Mo CD
0.75% $10,000 $24,999 Learn More
30 Mo CD
0.92% $100,000 $249,999 Learn More
36 Mo CD
0.75% $10,000 $24,999 Learn More
36 Mo CD
1.00% $100,000 $249,999 Learn More
48 Mo CD
0.90% $10,000 $24,999 Learn More
48 Mo CD
1.06% $100,000 $249,999 Learn More
60 Mo CD
1.00% $10,000 $24,999 Learn More
60 Mo CD
1.11% $100,000 $249,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.10% $1,000 - Learn MoreShow Less

Loan Rates - July 14, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Armstrong 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
Quicken Loans NMLS #3030
NMLS ID: 3030
3.620% 3.500% 1.00 $3,750 $1,123 Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
2.951% 2.875% 1.00 $2,445 $1,038 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
People's United Bank, N.A.
People's United Bank, N.A.
4.000 %
$0 Learn More
More Info
Third Federal Savings and Loans
Third Federal Savings and Loans
2.990 %
$0 Learn More
More Info

Note to Armstrong Bank
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Branches

Armstrong 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


Armstrong Bank Locations


Financial Details

Armstrong Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Armstrong 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
Armstrong Bank U.S. Bank Average
15.48% 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, Armstrong Bank had $29,602,000 in non-current loans and $1,321,000 in owned real estate. To cover these potential losses it had $182,809,000 in equity and $16,969,000 in loans loss reserves. That gives it a Texas Ratio of 15.48%.

Return on Equity
Armstrong Bank U.S. Bank Average
10.97% 7.80%

Armstrong Bank has a Return on Equity of 10.97% 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
Armstrong Bank U.S. Bank Average
10.93% 12.68%

Armstrong Bank has a Capitalization of 10.93% 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.

Armstrong Bank Balance Sheet Analysis

As of March 31, 2020, Armstrong Bank had assets of $1,673,152,000, loans of $1,106,131,000, and deposits of $1,482,942,000. 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 $ 111.45 million
Interest-bearing balances $ 85.63 million
Total securities $ 372.05 million
Federal funds sold and reverse repurchase $ 0.85 million
Net loans and leases $ 1,106.13 million
Loan loss allowance $ 16.97 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.32 million
Goodwill and other intangibles $ 13.61 million
All other assets $ 17.43 million
     Total Assets $ 1,490.34 million
LIABILITIES
Total deposits $ 1,482.94 million
      Interest-bearing deposits $ 1,013.51 million
      Deposits held in domestic offices $ 1,482.94 million
      % insured (estimated) 82.32%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 7.40 million
      Total Liabilities $ 1,490.34 million
      Shareholders’ Equity $ 182.81 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 13.32 million
Total Interest Expense $ 2.29 million
Net interest income $ 11.03 million
Provision for loan and lease losses $ 0.73 million
Total non interest income $ 4.60 million
Total non interest expense $ 10.04 million
Pre-tax Net Operating Income $ 4.86 million

Bank Loan Profile?

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

Compared to other banks in Oklahoma, Armstrong Bank has a significantly higher percent of Credit Card Loans, Small Business 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 30.78
Multifamily
Mortgages
1.95
Credit Card Loans 0.38
Consumer Auto Loans 2.11
Small Business Loans 10.92
Construction and Development Loans 10.15
Commercial Real Estate 29.21
Commercial and Industrial Loans 9.04
Farm Loans 2.59

Frequently Asked Questions About Armstrong Bank

Branches and Savings

Is Armstrong Bank FDIC insured?

Yes. It is covered under FDIC Certificate #2315.

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

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

Why are Armstrong Bank CD rates not competitive?

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

Is Armstrong Bank a commercial bank?

Yes

Where are Armstrong Bank locations?

See branch locations nearby.

Is Armstrong Bank open on Saturdays?

Is Armstrong Bank open on Sundays?

What time does Armstrong Bank open?

What time does Armstrong Bank close?

Are Armstrong Bank ATMs Open 24/7?

Do Armstrong Bank ATMs accept cash deposits?

Can Armstrong Bank customers use other ATMs?

Do Armstrong Bank branches have notaries?

Will Armstrong Bank notarize my document?

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

Will the Armstrong Bank branch print checks?

Do Armstrong Bank checks expire?

Does Armstrong Bank require US citizenship to open account?

Can Armstrong Bank close my account?

Does Armstrong Bank Report to credit bureaus?

Does Armstrong Bank Use Equifax?

What is Armstrong Bank's ACH Routing Number?

What is Armstrong Bank's SWIFT code?

Products

Does Armstrong Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Armstrong Bank offer personal loans?

Compare personal loan rates here.

Does Armstrong Bank offer student loans?

Will Armstrong Bank cash a check?

Will Armstrong Bank redeem a savings bond?

Does Armstrong Bank cash savings bonds?

Will Armstrong Bank cash money orders?

Can Armstrong Bank issue a money order?

Does Armstrong Bank do currency exchange?

Background on The Bank

Who owns Armstrong Bank?

Jennifer King | Aug 01, 2019

Who is the owner now this day.

How long has Armstrong Bank been around?

Can Armstrong Bank transfer to other banks?

Does Armstrong Bank have quick pay?

Does Armstrong Bank accept rolled coins?

Will Armstrong Bank accept loose change?

Where is Armstrong Bank headquarters?

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