Citizens Bank of West Virginia, Inc.

Headquarters

211-213 Third Street
Elkins, WV 26241
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 0.91% →
1-Year CD 0.10% 0.85% →
2-Year CD 0.15% 0.95% →
5-Year CD 0.50% 1.30% →
30-Year Mortgage 3.61% 2.61% →
15-Year Mortgage 3.68% 2.31% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Citizens Bank of West Virginia, Inc. is an FDIC insured institution located in Elkins, WV. It was founded in 1924 and has approximately $0.3 billion in assets. Customers can open an account at one of its 6 branches.

FDIC Insured Yes
FDIC Certificate # 6760
Date Established 1924
Assets $ 295.20 million
Loans $ 225.43 million
Deposits $ 247.40 million
Capital $ 29.44 million
 

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

Deposit Rates - November 23, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.05% $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
0.05% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.05% $10,000 $14,999 Learn More
3 Mo CD
0.05% $100,000 $199,999 Learn More
6 Mo CD
0.05% $10,000 $14,999 Learn More
6 Mo CD
0.05% $100,000 $199,999 Learn More
12 Mo CD
0.10% $10,000 $14,999 Learn More
12 Mo CD
0.10% $100,000 $199,999 Learn More
18 Mo CD
0.10% $10,000 $14,999 Learn More
18 Mo CD
0.10% $100,000 $199,999 Learn More
24 Mo CD
0.15% $10,000 $14,999 Learn More
24 Mo CD
0.15% $100,000 $199,999 Learn More
30 Mo CD
0.25% $10,000 $14,999 Learn More
30 Mo CD
0.25% $100,000 $199,999 Learn More
36 Mo CD
0.25% $10,000 $14,999 Learn More
36 Mo CD
0.25% $100,000 $199,999 Learn More
48 Mo CD
0.50% $10,000 $14,999 Learn More
48 Mo CD
0.50% $100,000 $199,999 Learn More
60 Mo CD
0.50% $10,000 $14,999 Learn More
60 Mo CD
0.50% $100,000 $199,999 Learn More

Variable IRA Rates APY MIN MAX
Var IRA
0.05% $1 $499 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $2,500 $3,499 Learn MoreShow Less

Loan Rates - November 23, 2020

Your Current Location: Connecticut, CT 06828

Auto Loan Rates APR Rate Monthly Payment
4 Year 5.05% 4.75% $572.91
5 Year 5.23% 5.00% $471.78
Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

Citizens Bank of West Virginia, Inc. 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


Citizens Bank of West Virginia, Inc. Locations


Financial Details

Citizens Bank of West Virginia, Inc. Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Citizens Bank of West Virginia, Inc.. 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
Citizens Bank of West Virginia, Inc. U.S. Bank Average
15.05% 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, Citizens Bank of West Virginia, Inc. had $3,801,000 in non-current loans and $1,022,000 in owned real estate. To cover these potential losses it had $29,436,000 in equity and $2,621,000 in loans loss reserves. That gives it a Texas Ratio of 15.05%.

Return on Equity
Citizens Bank of West Virginia, Inc. U.S. Bank Average
10.99% 7.80%

Citizens Bank of West Virginia, Inc. has a Return on Equity of 10.99% 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
Citizens Bank of West Virginia, Inc. U.S. Bank Average
9.97% 12.68%

Citizens Bank of West Virginia, Inc. has a Capitalization of 9.97% 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.

Citizens Bank of West Virginia, Inc. Balance Sheet Analysis

As of March 31, 2020, Citizens Bank of West Virginia, Inc. had assets of $295,203,000, loans of $225,429,000, and deposits of $247,404,000. 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 $ 35.57 million
Interest-bearing balances $ 31.64 million
Total securities $ 14.93 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 225.43 million
Loan loss allowance $ 2.62 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.02 million
Goodwill and other intangibles $ 0.55 million
All other assets $ 11.61 million
     Total Assets $ 265.77 million
LIABILITIES
Total deposits $ 247.40 million
      Interest-bearing deposits $ 182.47 million
      Deposits held in domestic offices $ 247.40 million
      % insured (estimated) 72.14%
Federal funds purchased and repurchase agreements $ 7.20 million
Trading liabilities N.A.
Other borrowed funds $ 6.44 million
Subordinated debt N.A.
All other liabilities $ 4.72 million
      Total Liabilities $ 265.77 million
      Shareholders’ Equity $ 29.44 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 3.35 million
Total Interest Expense $ 0.52 million
Net interest income $ 2.83 million
Provision for loan and lease losses $ 0.21 million
Total non interest income $ 0.72 million
Total non interest expense $ 2.35 million
Pre-tax Net Operating Income $ 0.99 million

Bank Loan Profile?

The top three loan types in Citizens Bank of West Virginia, Inc.’s loan portfolio are 1-4 Family Residential Loans, Consumer Auto Loans, and Commercial Real Estate.

Compared to other banks in West Virginia, Citizens Bank of West Virginia, Inc. has a significantly higher percent of Consumer Auto 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 48.23
Multifamily
Mortgages
0.68
Credit Card Loans 0.00
Consumer Auto Loans 15.99
Small Business Loans 0.00
Construction and Development Loans 1.23
Commercial Real Estate 14.47
Commercial and Industrial Loans 6.12
Farm Loans 0.00

Frequently Asked Questions About Citizens Bank Of West Virginia, Inc.

Branches and Savings

Is Citizens Bank Of West Virginia, Inc. FDIC insured?

Yes. It is covered under FDIC Certificate #6760.

Why does Citizens Bank Of West Virginia, Inc. pay such low interest on savings accounts?

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

Why are Citizens Bank Of West Virginia, Inc. CD rates not competitive?

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

Is Citizens Bank Of West Virginia, Inc. a commercial bank?

Yes

Where are Citizens Bank Of West Virginia, Inc. locations?

See branch locations nearby.

Is Citizens Bank Of West Virginia, Inc. open on Saturdays?

Is Citizens Bank Of West Virginia, Inc. open on Sundays?

What time does Citizens Bank Of West Virginia, Inc. open?

What time does Citizens Bank Of West Virginia, Inc. close?

Are Citizens Bank Of West Virginia, Inc. ATMs Open 24/7?

Do Citizens Bank Of West Virginia, Inc. ATMs accept cash deposits?

Can Citizens Bank Of West Virginia, Inc. customers use other ATMs?

Do Citizens Bank Of West Virginia, Inc. branches have notaries?

Will Citizens Bank Of West Virginia, Inc. notarize my document?

What address for Citizens Bank Of West Virginia, Inc. should I put for incoming ACH transfers?

Will the Citizens Bank Of West Virginia, Inc. branch print checks?

Do Citizens Bank Of West Virginia, Inc. checks expire?

Does Citizens Bank Of West Virginia, Inc. require US citizenship to open account?

Can Citizens Bank Of West Virginia, Inc. close my account?

Does Citizens Bank Of West Virginia, Inc. Report to credit bureaus?

Does Citizens Bank Of West Virginia, Inc. Use Equifax?

What is Citizens Bank Of West Virginia, Inc.'s ACH Routing Number?

What is Citizens Bank Of West Virginia, Inc.'s SWIFT code?

Products

Does Citizens Bank Of West Virginia, Inc. offer mortgages?

Compare mortgage rates here.

Does Citizens Bank Of West Virginia, Inc. offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Citizens Bank Of West Virginia, Inc. offer personal loans?

Compare personal loan rates here.

Does Citizens Bank Of West Virginia, Inc. offer student loans?

Will Citizens Bank Of West Virginia, Inc. cash a check?

Will Citizens Bank Of West Virginia, Inc. redeem a savings bond?

Does Citizens Bank Of West Virginia, Inc. cash savings bonds?

Will Citizens Bank Of West Virginia, Inc. cash money orders?

Can Citizens Bank Of West Virginia, Inc. issue a money order?

Does Citizens Bank Of West Virginia, Inc. do currency exchange?

Background on The Bank

Who owns Citizens Bank Of West Virginia, Inc.?

How long has Citizens Bank Of West Virginia, Inc. been around?

Can Citizens Bank Of West Virginia, Inc. transfer to other banks?

Does Citizens Bank Of West Virginia, Inc. have quick pay?

Does Citizens Bank Of West Virginia, Inc. accept rolled coins?

Will Citizens Bank Of West Virginia, Inc. accept loose change?

Where is Citizens Bank Of West Virginia, Inc. headquarters?

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