Cogent Bank

Headquarters

1113 Saxon Boulevard
Orange City, FL 32763
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 1.40% →
1-Year CD 0.65% 1.15% →
2-Year CD 0.65% 1.26% →
5-Year CD 0.65% 1.60% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Cogent Bank is an FDIC insured institution located in Orange City, FL. It was founded in 1999 and has approximately $0.29 billion in assets. Customers can open an account at one of its 2 branches.

FDIC Insured Yes
FDIC Certificate # 34908
Date Established 1999
Assets $ 287.32 million
Loans $ 214.14 million
Deposits $ 230.46 million
Capital $ 40.11 million
 

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

Deposit Rates - July 4, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.05% $1 - Learn More
Money Market
0.03% $1 $24,999 Learn More
Money Market
0.05% $25,000 $49,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.25% $1 - Learn More
6 Mo CD
0.35% $1 - Learn More
12 Mo CD
0.65% $1 - Learn More
18 Mo CD
0.65% $1 - Learn More
24 Mo CD
0.65% $1 - Learn More
30 Mo CD
0.65% $1 - Learn More
36 Mo CD
0.65% $1 - Learn More
48 Mo CD
0.65% $1 - Learn More
60 Mo CD
0.65% $1 - Learn More

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.65% $1 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
0.05% $1,000 $249,999 Learn MoreShow Less

Loan Rates - July 4, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Cogent Bank

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
Quicken Loans NMLS #3030
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
3.039% 3.000% 0.50 $1,250 $1,055 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
PenFed Credit Union
PenFed Credit Union
3.750 %
$0 Learn More
More Info
People's United Bank, N.A.
People's United Bank, N.A.
4.000 %
$0 Learn More
More Info

Note to Cogent Bank
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Cogent 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:
Fairfield,Connecticut


Cogent Bank Locations


Financial Details

Cogent Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Cogent 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
Cogent Bank U.S. Bank Average
2.25% 6.51%

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 December 31, 2019, Cogent Bank had $965,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $40,106,000 in equity and $2,801,000 in loans loss reserves. That gives it a Texas Ratio of 2.25%.

Return on Equity
Cogent Bank U.S. Bank Average
3.25% 9.41%

Cogent Bank has a Return on Equity of 3.25% versus the BestCashCow average of 9.41%. 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
Cogent Bank U.S. Bank Average
13.96% 12.82%

Cogent Bank has a Capitalization of 13.96% versus the BestCashCow average of 12.82. 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.

Cogent Bank Balance Sheet Analysis

As of December 31, 2019, Cogent Bank had assets of $287,319,000, loans of $214,141,000, and deposits of $230,455,000. 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

December 31, 2019
ASSETS
Cash & Balances due from depository institutions $ 7.66 million
Interest-bearing balances $ 6.80 million
Total securities $ 59.64 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 214.14 million
Loan loss allowance $ 2.80 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 $ 4.79 million
     Total Assets $ 247.21 million
LIABILITIES
Total deposits $ 230.46 million
      Interest-bearing deposits $ 163.73 million
      Deposits held in domestic offices $ 230.46 million
      % insured (estimated) 53.72%
Federal funds purchased and repurchase agreements $ 1.80 million
Trading liabilities N.A.
Other borrowed funds $ 14.50 million
Subordinated debt N.A.
All other liabilities $ 0.46 million
      Total Liabilities $ 247.21 million
      Shareholders’ Equity $ 40.11 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 9.65 million
Total Interest Expense $ 2.28 million
Net interest income $ 7.37 million
Provision for loan and lease losses N.A.
Total non interest income $ 1.90 million
Total non interest expense $ 10.71 million
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in Cogent Bank’s loan portfolio are Commercial Real Estate, Commercial and Industrial Loans, and Small Business Loans.

Compared to other banks in Florida, Cogent Bank has a significantly higher percent of Commercial and Industrial 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 14.61
Multifamily
Mortgages
2.65
Credit Card Loans 0.00
Consumer Auto Loans 0.05
Small Business Loans 19.95
Construction and Development Loans 6.91
Commercial Real Estate 41.81
Commercial and Industrial Loans 34.60
Farm Loans 0.00

Frequently Asked Questions About Cogent Bank

Branches and Savings

Is Cogent Bank FDIC insured?

Yes. It is covered under FDIC Certificate #34908.

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

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

Why are Cogent Bank CD rates not competitive?

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

Is Cogent Bank a commercial bank?

Yes

Where are Cogent Bank locations?

See branch locations nearby.

Is Cogent Bank open on Saturdays?

Is Cogent Bank open on Sundays?

What time does Cogent Bank open?

What time does Cogent Bank close?

Are Cogent Bank ATMs Open 24/7?

Do Cogent Bank ATMs accept cash deposits?

Can Cogent Bank customers use other ATMs?

Do Cogent Bank branches have notaries?

Will Cogent Bank notarize my document?

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

Will the Cogent Bank branch print checks?

Do Cogent Bank checks expire?

Does Cogent Bank require US citizenship to open account?

Can Cogent Bank close my account?

Does Cogent Bank Report to credit bureaus?

Does Cogent Bank Use Equifax?

What is Cogent Bank's ACH Routing Number?

What is Cogent Bank's SWIFT code?

Products

Does Cogent Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Cogent Bank offer personal loans?

Compare personal loan rates here.

Does Cogent Bank offer student loans?

Will Cogent Bank cash a check?

Will Cogent Bank redeem a savings bond?

Does Cogent Bank cash savings bonds?

Will Cogent Bank cash money orders?

Can Cogent Bank issue a money order?

Does Cogent Bank do currency exchange?

Background on The Bank

Who owns Cogent Bank?

How long has Cogent Bank been around?

Can Cogent Bank transfer to other banks?

Does Cogent Bank have quick pay?

Does Cogent Bank accept rolled coins?

Will Cogent Bank accept loose change?

Where is Cogent Bank headquarters?

Customer Reviews for Cogent Bank

There are currently no comments for Cogent Bank. Be the first to share your experience. Please provide comments that will help others.

Add Your Review

Rate it here →