Bank of Akron

46 Main Street
Akron, NY 14001

Notable Rates APY Vs.Others
Savings 0.10% 2.30% →
1-Year CD 1.75% 2.25% →
2-Year CD 1.85% 2.50% →
5-Year CD 1.85% 2.80% →
30-Year Mortgage N.A. 3.31% →
15-Year Mortgage N.A. 2.77% →
HELOC N.A. 4.00% →

2019 Overview

General Bank Information

Bank of Akron is an FDIC insured institution located in Akron, NY. It was founded in 1900 and has approximately $0.38 billion in assets. Customers can open an account at one of its 5 branches.

FDIC Insured Yes
FDIC Certificate # 13290
Date Established 1900
Assets $0.38 billion
Loans $0.30 billion
Deposits $0.33 billion
Capital $0.04 billion

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

Deposit Rates - November 22, 2019

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.10% $1 $9,999 Learn MoreShow Less
Money Market
0.15% $10,000 $24,999 Learn MoreShow Less
Money Market
0.20% $25,000 $99,999 Learn MoreShow Less
6 Mo CD
1.00% $500 - Learn MoreShow Less
12 Mo CD
1.75% $500 - Learn MoreShow Less
18 Mo CD
1.55% $500 - Learn MoreShow Less
24 Mo CD
1.60% $500 - Learn MoreShow Less
Special: 24 Mo CD
1.85% $1,000 - Learn MoreShow Less
36 Mo CD
1.60% $500 - Learn MoreShow Less
48 Mo CD
1.75% $500 - Learn MoreShow Less
60 Mo CD
1.80% $500 - Learn MoreShow Less
Special: 60 Mo CD
1.85% $10,000 - Learn MoreShow Less

Fixed IRA
1.60% $500 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $1,000 $2,499 Learn MoreShow Less
Int Ckg
0.05% $2,500 - Learn MoreShow Less

Loan Rates - November 22, 2019

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Bank of Akron

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 2019

Lender APR Rate (%) Points Fees Monthly
Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
4.990% 4.990% 0.00 $0 $1,341 Learn More
NMLS ID: 2890
License#: MC-3098
3.528% 3.500% 0.38 $868 $1,123 Learn More
Rocket Mortgage
NMLS ID: 3030
4.875% 4.875% 0.00 $0 $1,324 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2019

Lender APR (%)? Monthly Payment? Learn More
Figure Home Equity Line
Figure Home Equity Line
0.000 %
$0 Learn More
More Info
Atlantic Union Bank
Atlantic Union Bank
4.750 %
$15,000 Learn More
More Info
Third Federal Savings and Loans
Third Federal Savings and Loans
3.740 %
$0 Learn More
More Info

Note to Bank of Akron
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Financial Details

Bank of Akron Ratio Analysis

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

Texas Ratio
Bank of Akron U.S. Bank Average
8.36% 6.77%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s 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, 2019, Bank of Akron had $3,625,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $37,565,000 in equity and $5,778,000 in loans loss reserves. That gives it a Texas Ratio of 8.36%.

Return on Equity
Bank of Akron U.S. Bank Average
12.02% 9.50%

Bank of Akron has a Return on Equity of 12.02% versus the BestCashCow average of 9.50%. 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.

Bank of Akron U.S. Bank Average
9.96% 12.76%

Bank of Akron has a Capitalization of 9.96% versus the BestCashCow average of 12.76. 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.

Bank of Akron Balance Sheet Analysis

As of June 30, 2019, Bank of Akron had assets of $377,264,000, loans of $299,957,000, and deposits of $328,030,000. 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, 2019
Cash & Balances due from depository institutions $0.02 billion
Interest-bearing balances $0.02 billion
Total securities $0.04 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.30 billion
Loan loss allowance $0.01 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.00 billion
All other assets $0.01 billion
     Total Assets $0.34 billion
Total deposits $0.33 billion
      Interest-bearing deposits $0.24 billion
      Deposits held in domestic offices $0.33 billion
      % insured (estimated) 85.15%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.01 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.34 billion
      Shareholders’ Equity $0.04 billion

Summary Income Statement

June 30, 2019
Total Interest Income $0.01 billion
Total Interest Expense $0.00 billion
Net interest income $0.01 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.00 billion
Pre-tax Net Operating Income $0.00 billion

Bank Loan Profile?

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

Compared to other banks in New York, Bank of Akron 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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 39.88
Credit Card Loans 0.28
Consumer Auto Loans 0.04
Small Business Loans 25.02
Construction and Development Loans 5.80
Commercial Real Estate 40.32
Commercial and Industrial Loans 12.45
Farm Loans 0.00

Frequently Asked Questions About Bank Of Akron

Branches and Savings

Is Bank Of Akron FDIC insured?

Yes. It is covered under FDIC Certificate #13290.

Why does Bank Of Akron pay such low interest on savings accounts?

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

Why are Bank Of Akron CD rates not competitive?

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

Is Bank Of Akron a commercial bank?


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Does Bank Of Akron offer mortgages?

Compare mortgage rates here.

Does Bank Of Akron offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Bank Of Akron offer personal loans?

Compare personal loan rates here.

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Background on The Bank

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