Citizens National Bank of Cheboygan

Headquarters

303 North Main Street
Cheboygan, MI 49721
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 1.05% →
1-Year CD 0.25% 0.95% →
2-Year CD 0.35% 1.05% →
5-Year CD 1.00% 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

Citizens National Bank of Cheboygan is an FDIC insured institution located in Cheboygan, MI. It was founded in 1931 and has approximately $0.32 billion in assets. Customers can open an account at one of its 10 branches.

FDIC Insured Yes
FDIC Certificate # 5018
Date Established 1931
Assets $ 318.49 million
Loans $ 158.95 million
Deposits $ 285.20 million
Capital $ 28.15 million
 

For a more detailed analysis of Citizens National Bank of Cheboygan'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

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
0.10% $10,000 $14,999 Learn More
3 Mo CD
0.10% $100,000 $199,999 Learn More
6 Mo CD
0.15% $10,000 $14,999 Learn More
6 Mo CD
0.15% $100,000 $199,999 Learn More
12 Mo CD
0.20% $10,000 $14,999 Learn More
12 Mo CD
0.25% $100,000 $199,999 Learn More
24 Mo CD
0.30% $10,000 $14,999 Learn More
24 Mo CD
0.35% $100,000 $199,999 Learn More
36 Mo CD
0.50% $10,000 $14,999 Learn More
36 Mo CD
0.60% $100,000 $199,999 Learn More
48 Mo CD
0.65% $10,000 $14,999 Learn More
48 Mo CD
0.75% $100,000 $199,999 Learn More
60 Mo CD
0.85% $10,000 $14,999 Learn More
60 Mo CD
1.00% $100,000 $199,999 Learn More


Loan Rates - September 18, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Citizens National Bank of Cheboygan

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
2.815% 2.750% 0.88 $2,118 $1,021 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
2.990 %
$0 Learn More
More Info

Note to Citizens National Bank of Cheboygan
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Branches

Citizens National Bank of Cheboygan 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 National Bank of Cheboygan Locations


Financial Details

Citizens National Bank of Cheboygan Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Citizens National Bank of Cheboygan. 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 National Bank of Cheboygan U.S. Bank Average
1.15% 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 National Bank of Cheboygan had $342,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $28,151,000 in equity and $1,681,000 in loans loss reserves. That gives it a Texas Ratio of 1.15%.

Return on Equity
Citizens National Bank of Cheboygan U.S. Bank Average
8.02% 7.80%

Citizens National Bank of Cheboygan has a Return on Equity of 8.02% 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 National Bank of Cheboygan U.S. Bank Average
8.84% 12.68%

Citizens National Bank of Cheboygan has a Capitalization of 8.84% 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 National Bank of Cheboygan Balance Sheet Analysis

As of March 31, 2020, Citizens National Bank of Cheboygan had assets of $318,492,000, loans of $158,953,000, and deposits of $285,204,000. 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 $ 32.98 million
Interest-bearing balances $ 20.98 million
Total securities $ 110.22 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 158.95 million
Loan loss allowance $ 1.68 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 0.89 million
All other assets $ 9.71 million
     Total Assets $ 290.34 million
LIABILITIES
Total deposits $ 285.20 million
      Interest-bearing deposits $ 203.92 million
      Deposits held in domestic offices $ 285.20 million
      % insured (estimated) 75.67%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 5.14 million
      Total Liabilities $ 290.34 million
      Shareholders’ Equity $ 28.15 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 2.74 million
Total Interest Expense $ 0.11 million
Net interest income $ 2.64 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.73 million
Total non interest expense $ 2.70 million
Pre-tax Net Operating Income $ 0.66 million

Bank Loan Profile?

The top three loan types in Citizens National Bank of Cheboygan’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Construction and Development Loans.

Compared to other banks in Michigan, Citizens National Bank of Cheboygan has a significantly higher percent of Credit Card Loans, Construction and Development 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 40.49
Multifamily
Mortgages
1.77
Credit Card Loans 0.11
Consumer Auto Loans 1.22
Small Business Loans 0.00
Construction and Development Loans 11.68
Commercial Real Estate 35.06
Commercial and Industrial Loans 7.18
Farm Loans 0.02

Frequently Asked Questions About Citizens National Bank Of Cheboygan

Branches and Savings

Is Citizens National Bank Of Cheboygan FDIC insured?

Yes. It is covered under FDIC Certificate #5018.

Why does Citizens National Bank Of Cheboygan pay such low interest on savings accounts?

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

Why are Citizens National Bank Of Cheboygan CD rates not competitive?

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

Is Citizens National Bank Of Cheboygan a commercial bank?

Yes

Where are Citizens National Bank Of Cheboygan locations?

See branch locations nearby.

Is Citizens National Bank Of Cheboygan open on Saturdays?

Is Citizens National Bank Of Cheboygan open on Sundays?

What time does Citizens National Bank Of Cheboygan open?

What time does Citizens National Bank Of Cheboygan close?

Are Citizens National Bank Of Cheboygan ATMs Open 24/7?

Do Citizens National Bank Of Cheboygan ATMs accept cash deposits?

Can Citizens National Bank Of Cheboygan customers use other ATMs?

Do Citizens National Bank Of Cheboygan branches have notaries?

Will Citizens National Bank Of Cheboygan notarize my document?

What address for Citizens National Bank Of Cheboygan should I put for incoming ACH transfers?

Will the Citizens National Bank Of Cheboygan branch print checks?

Do Citizens National Bank Of Cheboygan checks expire?

Does Citizens National Bank Of Cheboygan require US citizenship to open account?

Can Citizens National Bank Of Cheboygan close my account?

Does Citizens National Bank Of Cheboygan Report to credit bureaus?

Does Citizens National Bank Of Cheboygan Use Equifax?

What is Citizens National Bank Of Cheboygan's ACH Routing Number?

What is Citizens National Bank Of Cheboygan's SWIFT code?

Products

Does Citizens National Bank Of Cheboygan offer mortgages?

Compare mortgage rates here.

Does Citizens National Bank Of Cheboygan offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Citizens National Bank Of Cheboygan offer personal loans?

Compare personal loan rates here.

Does Citizens National Bank Of Cheboygan offer student loans?

Will Citizens National Bank Of Cheboygan cash a check?

Will Citizens National Bank Of Cheboygan redeem a savings bond?

Does Citizens National Bank Of Cheboygan cash savings bonds?

Will Citizens National Bank Of Cheboygan cash money orders?

Can Citizens National Bank Of Cheboygan issue a money order?

Does Citizens National Bank Of Cheboygan do currency exchange?

Background on The Bank

Who owns Citizens National Bank Of Cheboygan?

How long has Citizens National Bank Of Cheboygan been around?

Can Citizens National Bank Of Cheboygan transfer to other banks?

Does Citizens National Bank Of Cheboygan have quick pay?

Does Citizens National Bank Of Cheboygan accept rolled coins?

Will Citizens National Bank Of Cheboygan accept loose change?

Where is Citizens National Bank Of Cheboygan headquarters?

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