Bank of Okolona

Headquarters

227 West Main Street
Okolona, MS 38860
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 0.95% →
1-Year CD 0.40% 1.01% →
2-Year CD 0.52% 0.95% →
5-Year CD 0.80% 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 Okolona is an FDIC insured institution located in Okolona, MS. It was founded in 1931 and has approximately $0.21 billion in assets. Customers can open an account at one of its 4 branches.

FDIC Insured Yes
FDIC Certificate # 5902
Date Established 1931
Assets $ 210.24 million
Loans $ 125.55 million
Deposits $ 184.10 million
Capital $ 21.73 million
 

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

Deposit Rates - October 21, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.10% $2,500 $4,999 Learn More
Money Market
0.11% $2,500 $2,999 Learn More
Money Market
0.13% $10,000 $14,999 Learn More
Money Market
0.13% $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
0.10% $100,000 $199,999 Learn More
6 Mo CD
0.25% $10,000 $14,999 Learn More
6 Mo CD
0.25% $100,000 $199,999 Learn More
12 Mo CD
0.40% $10,000 $14,999 Learn More
12 Mo CD
0.40% $100,000 $199,999 Learn More
18 Mo CD
0.45% $10,000 $14,999 Learn More
18 Mo CD
0.45% $100,000 $199,999 Learn More
24 Mo CD
0.52% $10,000 $14,999 Learn More
24 Mo CD
0.52% $100,000 $199,999 Learn More
30 Mo CD
0.50% $10,000 $14,999 Learn More
30 Mo CD
0.50% $100,000 $199,999 Learn More
36 Mo CD
0.60% $10,000 $14,999 Learn More
36 Mo CD
0.60% $100,000 $199,999 Learn More
48 Mo CD
0.70% $10,000 $14,999 Learn More
48 Mo CD
0.70% $100,000 $199,999 Learn More
60 Mo CD
0.80% $10,000 $14,999 Learn More
60 Mo CD
0.80% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.10% $2,500 $3,499 Learn MoreShow Less

Loan Rates - October 21, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Bank of Okolona

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
Rocket Mortgage
NMLS ID: 3030
3.620% 3.500% 1.00 $3,750 $1,123 Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
2.575% 2.500% 1.00 $2,468 $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
More Info

Note to Bank of Okolona
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Branches

Bank of Okolona 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 Okolona Locations


Financial Details

Bank of Okolona Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Bank of Okolona. 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 Okolona U.S. Bank Average
27.16% 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 Okolona had $5,115,000 in non-current loans and $1,276,000 in owned real estate. To cover these potential losses it had $21,731,000 in equity and $1,801,000 in loans loss reserves. That gives it a Texas Ratio of 27.16%.

Return on Equity
Bank of Okolona U.S. Bank Average
7.81% 7.80%

Bank of Okolona has a Return on Equity of 7.81% 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 Okolona U.S. Bank Average
10.34% 12.68%

Bank of Okolona has a Capitalization of 10.34% 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 Okolona Balance Sheet Analysis

As of March 31, 2020, Bank of Okolona had assets of $210,244,000, loans of $125,547,000, and deposits of $184,099,000. 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 $ 5.95 million
Interest-bearing balances $ 1.28 million
Total securities $ 31.21 million
Federal funds sold and reverse repurchase $ 34.78 million
Net loans and leases $ 125.55 million
Loan loss allowance $ 1.80 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.28 million
Goodwill and other intangibles N.A.
All other assets $ 7.45 million
     Total Assets $ 188.51 million
LIABILITIES
Total deposits $ 184.10 million
      Interest-bearing deposits $ 141.87 million
      Deposits held in domestic offices $ 184.10 million
      % insured (estimated) 82.15%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 3.52 million
Subordinated debt N.A.
All other liabilities $ 0.89 million
      Total Liabilities $ 188.51 million
      Shareholders’ Equity $ 21.73 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 2.45 million
Total Interest Expense $ 0.69 million
Net interest income $ 1.76 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.28 million
Total non interest expense $ 1.61 million
Pre-tax Net Operating Income $ 0.43 million

Bank Loan Profile?

The top three loan types in Bank of Okolona’s loan portfolio are Commercial and Industrial Loans, 1-4 Family Residential Loans, and Farm Loans.

Compared to other banks in Mississippi, Bank of Okolona has a significantly higher percent of Commercial and Industrial Loans, Farm 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 24.12
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 0.95
Commercial Real Estate 5.32
Commercial and Industrial Loans 31.50
Farm Loans 12.72

Frequently Asked Questions About Bank Of Okolona

Branches and Savings

Is Bank Of Okolona FDIC insured?

Yes. It is covered under FDIC Certificate #5902.

Why does Bank Of Okolona 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 Okolona CD rates not competitive?

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

Is Bank Of Okolona a commercial bank?

Yes

Where are Bank Of Okolona locations?

See branch locations nearby.

Is Bank Of Okolona open on Saturdays?

Is Bank Of Okolona open on Sundays?

What time does Bank Of Okolona open?

What time does Bank Of Okolona close?

Are Bank Of Okolona ATMs Open 24/7?

Do Bank Of Okolona ATMs accept cash deposits?

Can Bank Of Okolona customers use other ATMs?

Do Bank Of Okolona branches have notaries?

Will Bank Of Okolona notarize my document?

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

Will the Bank Of Okolona branch print checks?

Do Bank Of Okolona checks expire?

Does Bank Of Okolona require US citizenship to open account?

Can Bank Of Okolona close my account?

Does Bank Of Okolona Report to credit bureaus?

Does Bank Of Okolona Use Equifax?

What is Bank Of Okolona's ACH Routing Number?

What is Bank Of Okolona's SWIFT code?

Products

Does Bank Of Okolona offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Bank Of Okolona offer personal loans?

Compare personal loan rates here.

Does Bank Of Okolona offer student loans?

Will Bank Of Okolona cash a check?

Will Bank Of Okolona redeem a savings bond?

Does Bank Of Okolona cash savings bonds?

Will Bank Of Okolona cash money orders?

Can Bank Of Okolona issue a money order?

Does Bank Of Okolona do currency exchange?

Background on The Bank

Who owns Bank Of Okolona?

How long has Bank Of Okolona been around?

Can Bank Of Okolona transfer to other banks?

Does Bank Of Okolona have quick pay?

Does Bank Of Okolona accept rolled coins?

Will Bank Of Okolona accept loose change?

Where is Bank Of Okolona headquarters?

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