Bank of Gassaway

Headquarters

700 Elk Street
Gassaway, WV 26624
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.05% →
1-Year CD N.A. 0.95% →
2-Year CD N.A. 1.05% →
5-Year CD N.A. 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

Bank of Gassaway is an FDIC insured institution located in Gassaway, WV. It was founded in 1905 and has approximately $0.18 billion in assets.

FDIC Insured Yes
FDIC Certificate # 15397
Date Established 1905
Assets $ 178.43 million
Loans $ 95.06 million
Deposits $ 160.11 million
Capital $ 17.62 million
 

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

Deposit Rates - September 18, 2020

Your Current Location: Connecticut, CT 06828


Loan Rates - September 18, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Bank of Gassaway

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

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Featured - Connecticut Home Equity Line Of Credit Rates 2020

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Note to Bank of Gassaway
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Branches

Bank of Gassaway 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


Bank of Gassaway Locations


Financial Details

Bank of Gassaway Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Bank of Gassaway. 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
Bank of Gassaway U.S. Bank Average
8.53% 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, Bank of Gassaway had $1,617,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $17,616,000 in equity and $1,348,000 in loans loss reserves. That gives it a Texas Ratio of 8.53%.

Return on Equity
Bank of Gassaway U.S. Bank Average
5.37% 7.80%

Bank of Gassaway has a Return on Equity of 5.37% 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
Bank of Gassaway U.S. Bank Average
9.87% 12.68%

Bank of Gassaway has a Capitalization of 9.87% 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.

Bank of Gassaway Balance Sheet Analysis

As of March 31, 2014, Bank of Gassaway had assets of $178,425,000, loans of $95,063,000, and deposits of $160,106,000. 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 $ 95.06 million
Loan loss allowance $ 1.35 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets N.A.
     Total Assets N.A.
LIABILITIES
Total deposits $ 160.11 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 $ 178.43 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 Bank of Gassaway’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Small Business Loans.

Compared to other banks in West Virginia, Bank of Gassaway has a significantly higher percent of Credit Card Loans, Consumer Auto 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 66.52
Multifamily
Mortgages
0.00
Credit Card Loans 0.35
Consumer Auto Loans 7.30
Small Business Loans 9.15
Construction and Development Loans 2.30
Commercial Real Estate 15.95
Commercial and Industrial Loans 3.98
Farm Loans 0.00

Frequently Asked Questions About Bank Of Gassaway

Branches and Savings

Is Bank Of Gassaway FDIC insured?

Yes. It is covered under FDIC Certificate #15397.

Why does Bank Of Gassaway 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 Gassaway CD rates not competitive?

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

Is Bank Of Gassaway a commercial bank?

Yes

Where are Bank Of Gassaway locations?

See branch locations nearby.

Is Bank Of Gassaway open on Saturdays?

Is Bank Of Gassaway open on Sundays?

What time does Bank Of Gassaway open?

What time does Bank Of Gassaway close?

Are Bank Of Gassaway ATMs Open 24/7?

Do Bank Of Gassaway ATMs accept cash deposits?

Can Bank Of Gassaway customers use other ATMs?

Do Bank Of Gassaway branches have notaries?

Will Bank Of Gassaway notarize my document?

What address for Bank Of Gassaway should I put for incoming ACH transfers?

Will the Bank Of Gassaway branch print checks?

Do Bank Of Gassaway checks expire?

Does Bank Of Gassaway require US citizenship to open account?

Can Bank Of Gassaway close my account?

Does Bank Of Gassaway Report to credit bureaus?

Does Bank Of Gassaway Use Equifax?

What is Bank Of Gassaway's ACH Routing Number?

What is Bank Of Gassaway's SWIFT code?

Products

Does Bank Of Gassaway offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Bank Of Gassaway offer personal loans?

Compare personal loan rates here.

Does Bank Of Gassaway offer student loans?

Will Bank Of Gassaway cash a check?

Will Bank Of Gassaway redeem a savings bond?

Does Bank Of Gassaway cash savings bonds?

Will Bank Of Gassaway cash money orders?

Can Bank Of Gassaway issue a money order?

Does Bank Of Gassaway do currency exchange?

Background on The Bank

Who owns Bank Of Gassaway?

How long has Bank Of Gassaway been around?

Can Bank Of Gassaway transfer to other banks?

Does Bank Of Gassaway have quick pay?

Does Bank Of Gassaway accept rolled coins?

Will Bank Of Gassaway accept loose change?

Where is Bank Of Gassaway headquarters?

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