BankStar Financial

Headquarters

124 Elk Street
Elkton, SD 57026
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.25% 0.95% →
1-Year CD 0.65% 1.01% →
2-Year CD 0.70% 0.95% →
5-Year CD 0.90% 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

BankStar Financial is an FDIC insured institution located in Elkton, SD. It was founded in 1926 and has approximately $0.2 billion in assets. Customers can open an account at one of its 4 branches.

FDIC Insured Yes
FDIC Certificate # 496
Date Established 1926
Assets $ 202.36 million
Loans $ 156.43 million
Deposits $ 160.93 million
Capital $ 19.82 million
 

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

Deposit Rates - October 20, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.25% $2,500 $4,999 Learn More
Money Market
0.05% $2,500 $2,999 Learn More
Money Market
0.05% $10,000 $14,999 Learn More
Money Market
0.10% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.40% $10,000 $14,999 Learn More
6 Mo CD
0.50% $100,000 $199,999 Learn More
12 Mo CD
0.55% $10,000 $14,999 Learn More
12 Mo CD
0.65% $100,000 $199,999 Learn More
24 Mo CD
0.60% $10,000 $14,999 Learn More
24 Mo CD
0.70% $100,000 $199,999 Learn More
36 Mo CD
0.70% $10,000 $14,999 Learn More
36 Mo CD
0.80% $100,000 $199,999 Learn More
60 Mo CD
0.80% $10,000 $14,999 Learn More
60 Mo CD
0.90% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.05% $1 $99 Learn MoreShow Less
Int Ckg
0.10% $2,500 $3,499 Learn MoreShow Less

Loan Rates - October 20, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for BankStar Financial

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
AimLoan.com
NMLS ID: 2890
License#: 13256
2.575% 2.500% 1.00 $2,468 $988 Learn More
Rocket Mortgage
NMLS ID: 3030
3.620% 3.500% 1.00 $3,750 $1,123 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 BankStar Financial
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Branches

BankStar Financial 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


BankStar Financial Locations


Financial Details

BankStar Financial Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of BankStar Financial. 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
BankStar Financial U.S. Bank Average
3.35% 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, BankStar Financial had $707,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $19,815,000 in equity and $1,281,000 in loans loss reserves. That gives it a Texas Ratio of 3.35%.

Return on Equity
BankStar Financial U.S. Bank Average
11.78% 7.80%

BankStar Financial has a Return on Equity of 11.78% 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
BankStar Financial U.S. Bank Average
9.79% 12.68%

BankStar Financial has a Capitalization of 9.79% 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.

BankStar Financial Balance Sheet Analysis

As of March 31, 2020, BankStar Financial had assets of $202,358,000, loans of $156,428,000, and deposits of $160,927,000. 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 $ 5.48 million
Interest-bearing balances $ 0.01 million
Total securities $ 29.50 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 156.43 million
Loan loss allowance $ 1.28 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 2.34 million
All other assets $ 5.52 million
     Total Assets $ 182.54 million
LIABILITIES
Total deposits $ 160.93 million
      Interest-bearing deposits $ 132.92 million
      Deposits held in domestic offices $ 160.93 million
      % insured (estimated) 76.15%
Federal funds purchased and repurchase agreements $ 2.00 million
Trading liabilities N.A.
Other borrowed funds $ 19.00 million
Subordinated debt N.A.
All other liabilities $ 0.62 million
      Total Liabilities $ 182.54 million
      Shareholders’ Equity $ 19.82 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 2.24 million
Total Interest Expense $ 0.53 million
Net interest income $ 1.71 million
Provision for loan and lease losses $ 0.05 million
Total non interest income $ 0.13 million
Total non interest expense $ 1.19 million
Pre-tax Net Operating Income $ 0.60 million

Bank Loan Profile?

The top three loan types in BankStar Financial’s loan portfolio are 1-4 Family Residential Loans, Farm Loans, and Commercial Real Estate.

Compared to other banks in South Dakota, BankStar Financial has a significantly higher percent of 1-4 Family Residential Loans, Multifamily Mortgages 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 25.46
Multifamily
Mortgages
13.82
Credit Card Loans 0.17
Consumer Auto Loans 1.33
Small Business Loans 0.00
Construction and Development Loans 4.47
Commercial Real Estate 15.22
Commercial and Industrial Loans 10.57
Farm Loans 17.09

Frequently Asked Questions About Bankstar Financial

Branches and Savings

Is Bankstar Financial FDIC insured?

Yes. It is covered under FDIC Certificate #496.

Why does Bankstar Financial pay such low interest on savings accounts?

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

Why are Bankstar Financial CD rates not competitive?

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

Is Bankstar Financial a commercial bank?

Yes

Where are Bankstar Financial locations?

See branch locations nearby.

Is Bankstar Financial open on Saturdays?

Is Bankstar Financial open on Sundays?

What time does Bankstar Financial open?

What time does Bankstar Financial close?

Are Bankstar Financial ATMs Open 24/7?

Do Bankstar Financial ATMs accept cash deposits?

Can Bankstar Financial customers use other ATMs?

Do Bankstar Financial branches have notaries?

Will Bankstar Financial notarize my document?

What address for Bankstar Financial should I put for incoming ACH transfers?

Will the Bankstar Financial branch print checks?

Do Bankstar Financial checks expire?

Does Bankstar Financial require US citizenship to open account?

Can Bankstar Financial close my account?

Does Bankstar Financial Report to credit bureaus?

Does Bankstar Financial Use Equifax?

What is Bankstar Financial's ACH Routing Number?

What is Bankstar Financial's SWIFT code?

Products

Does Bankstar Financial offer mortgages?

Compare mortgage rates here.

Does Bankstar Financial offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Bankstar Financial offer personal loans?

Compare personal loan rates here.

Does Bankstar Financial offer student loans?

Will Bankstar Financial cash a check?

Will Bankstar Financial redeem a savings bond?

Does Bankstar Financial cash savings bonds?

Will Bankstar Financial cash money orders?

Can Bankstar Financial issue a money order?

Does Bankstar Financial do currency exchange?

Background on The Bank

Who owns Bankstar Financial?

How long has Bankstar Financial been around?

Can Bankstar Financial transfer to other banks?

Does Bankstar Financial have quick pay?

Does Bankstar Financial accept rolled coins?

Will Bankstar Financial accept loose change?

Where is Bankstar Financial headquarters?

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