Benefit Bank

Headquarters

8300 Phoenix Avenue
Fort Smith, AR 72903
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.25% →
1-Year CD N.A. 1.01% →
2-Year CD N.A. 0.95% →
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

Benefit Bank is an FDIC insured institution located in Fort Smith, AR. It was founded in 1999 and has approximately $0.19 billion in assets.

FDIC Insured Yes
FDIC Certificate # 35281
Date Established 1999
Assets $ 194.68 million
Loans $ 172.45 million
Deposits $ 157.91 million
Capital $ 21.78 million
 

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

Deposit Rates - October 24, 2020

Your Current Location: Virginia, VA 20146


Loan Rates - October 24, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Benefit Bank

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 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.575% 2.500% 1.00 $2,470 $988 Learn More
Rocket Mortgage
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More

Featured - Virginia 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 Benefit Bank
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Branches

Benefit 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:
Ashburn,Virginia


Benefit Bank Locations


Financial Details

Benefit Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Benefit 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
Benefit Bank U.S. Bank Average
33.34% 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, Benefit Bank had $8,389,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $21,780,000 in equity and $3,384,000 in loans loss reserves. That gives it a Texas Ratio of 33.34%.

Return on Equity
Benefit Bank U.S. Bank Average
12.53% 7.80%

Benefit Bank has a Return on Equity of 12.53% 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
Benefit Bank U.S. Bank Average
11.19% 12.68%

Benefit Bank has a Capitalization of 11.19% 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.

Benefit Bank Balance Sheet Analysis

As of March 31, 2015, Benefit Bank had assets of $194,680,000, loans of $172,445,000, and deposits of $157,912,000. 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 $ 172.45 million
Loan loss allowance $ 3.38 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 $ 157.91 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 $ 194.68 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 Benefit Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Small Business Loans.

Compared to other banks in Arkansas, Benefit Bank has a significantly higher percent of 1-4 Family Residential 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 49.38
Multifamily
Mortgages
5.05
Credit Card Loans 0.01
Consumer Auto Loans 0.60
Small Business Loans 13.94
Construction and Development Loans 9.78
Commercial Real Estate 29.00
Commercial and Industrial Loans 6.14
Farm Loans 0.02

Frequently Asked Questions About Benefit Bank

Branches and Savings

Is Benefit Bank FDIC insured?

Yes. It is covered under FDIC Certificate #35281.

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

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

Why are Benefit Bank CD rates not competitive?

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

Is Benefit Bank a commercial bank?

Yes

Where are Benefit Bank locations?

See branch locations nearby.

Is Benefit Bank open on Saturdays?

Is Benefit Bank open on Sundays?

What time does Benefit Bank open?

What time does Benefit Bank close?

Are Benefit Bank ATMs Open 24/7?

Do Benefit Bank ATMs accept cash deposits?

Can Benefit Bank customers use other ATMs?

Do Benefit Bank branches have notaries?

Will Benefit Bank notarize my document?

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

Will the Benefit Bank branch print checks?

Do Benefit Bank checks expire?

Does Benefit Bank require US citizenship to open account?

Can Benefit Bank close my account?

Does Benefit Bank Report to credit bureaus?

Does Benefit Bank Use Equifax?

What is Benefit Bank's ACH Routing Number?

What is Benefit Bank's SWIFT code?

Products

Does Benefit Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Benefit Bank offer personal loans?

Compare personal loan rates here.

Does Benefit Bank offer student loans?

Will Benefit Bank cash a check?

Will Benefit Bank redeem a savings bond?

Does Benefit Bank cash savings bonds?

Will Benefit Bank cash money orders?

Can Benefit Bank issue a money order?

Does Benefit Bank do currency exchange?

Background on The Bank

Who owns Benefit Bank?

How long has Benefit Bank been around?

Can Benefit Bank transfer to other banks?

Does Benefit Bank have quick pay?

Does Benefit Bank accept rolled coins?

Will Benefit Bank accept loose change?

Where is Benefit Bank headquarters?

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