Community Shores Bank

Headquarters

1030 West Norton Avenue
Muskegon, MI 49441
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.50% 1.00% →
1-Year CD 0.35% 0.95% →
2-Year CD 0.55% 1.05% →
5-Year CD 0.65% 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

Community Shores Bank is an FDIC insured institution located in Muskegon, MI. It was founded in 1999 and has approximately $0.22 billion in assets. Customers can open an account at one of its 4 branches.

FDIC Insured Yes
FDIC Certificate # 34944
Date Established 1999
Assets $ 215.81 million
Loans $ 146.54 million
Deposits $ 195.42 million
Capital $ 19.96 million
 

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

Deposit Rates - September 29, 2020

Your Current Location: Washington, WA 98109

Savings and Money Market Rates APY MIN MAX
Savings
0.03% $2,500 $4,999 Learn More
Special: 12 Mo SAV
0.50% $1 - Learn More
Money Market
0.10% $2,500 $2,999 Learn More
Money Market
0.10% $10,000 $14,999 Learn More
Money Market
0.15% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.07% $10,000 $14,999 Learn More
3 Mo CD
0.15% $100,000 $199,999 Learn More
6 Mo CD
0.10% $10,000 $14,999 Learn More
6 Mo CD
0.25% $100,000 $199,999 Learn More
12 Mo CD
0.20% $10,000 $14,999 Learn More
12 Mo CD
0.35% $100,000 $199,999 Learn More
18 Mo CD
0.30% $10,000 $14,999 Learn More
18 Mo CD
0.35% $100,000 $199,999 Learn More
24 Mo CD
0.40% $10,000 $14,999 Learn More
24 Mo CD
0.55% $100,000 $199,999 Learn More
30 Mo CD
0.40% $10,000 $14,999 Learn More
30 Mo CD
0.55% $100,000 $199,999 Learn More
36 Mo CD
0.50% $10,000 $14,999 Learn More
36 Mo CD
0.65% $100,000 $199,999 Learn More
48 Mo CD
0.60% $10,000 $14,999 Learn More
48 Mo CD
0.65% $100,000 $199,999 Learn More
60 Mo CD
0.60% $10,000 $14,999 Learn More
60 Mo CD
0.65% $100,000 $199,999 Learn More

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

Loan Rates - September 29, 2020

Your Current Location: Washington, WA 98109

Auto Loan Rates APR Rate Monthly Payment
5 Year 4.61% 4.61% $467.30

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

Community Shores 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:
Seattle,Washington


Community Shores Bank Locations


Financial Details

Community Shores Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Community Shores 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
Community Shores Bank U.S. Bank Average
10.12% 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, Community Shores Bank had $1,776,000 in non-current loans and $394,000 in owned real estate. To cover these potential losses it had $19,963,000 in equity and $1,484,000 in loans loss reserves. That gives it a Texas Ratio of 10.12%.

Return on Equity
Community Shores Bank U.S. Bank Average
5.65% 7.80%

Community Shores Bank has a Return on Equity of 5.65% 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
Community Shores Bank U.S. Bank Average
9.25% 12.68%

Community Shores Bank has a Capitalization of 9.25% 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.

Community Shores Bank Balance Sheet Analysis

As of March 31, 2020, Community Shores Bank had assets of $215,812,000, loans of $146,539,000, and deposits of $195,417,000. 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 $ 40.43 million
Interest-bearing balances $ 37.76 million
Total securities $ 17.66 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 146.54 million
Loan loss allowance $ 1.48 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.39 million
Goodwill and other intangibles N.A.
All other assets $ 2.91 million
     Total Assets $ 195.85 million
LIABILITIES
Total deposits $ 195.42 million
      Interest-bearing deposits $ 156.91 million
      Deposits held in domestic offices $ 195.42 million
      % insured (estimated) 70.66%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 0.43 million
      Total Liabilities $ 195.85 million
      Shareholders’ Equity $ 19.96 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 2.10 million
Total Interest Expense $ 0.46 million
Net interest income $ 1.64 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.31 million
Total non interest expense $ 1.63 million
Pre-tax Net Operating Income $ 0.32 million

Bank Loan Profile?

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

Compared to other banks in Michigan, Community Shores Bank has a significantly higher percent of Small Business Loans, 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 15.63
Multifamily
Mortgages
0.57
Credit Card Loans 0.00
Consumer Auto Loans 0.17
Small Business Loans 23.54
Construction and Development Loans 2.50
Commercial Real Estate 47.60
Commercial and Industrial Loans 33.47
Farm Loans 0.00

Frequently Asked Questions About Community Shores Bank

Branches and Savings

Is Community Shores Bank FDIC insured?

Yes. It is covered under FDIC Certificate #34944.

Why does Community Shores Bank pay such low interest on savings accounts?

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

Why are Community Shores Bank CD rates not competitive?

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

Is Community Shores Bank a commercial bank?

Yes

Where are Community Shores Bank locations?

See branch locations nearby.

Is Community Shores Bank open on Saturdays?

Is Community Shores Bank open on Sundays?

What time does Community Shores Bank open?

What time does Community Shores Bank close?

Are Community Shores Bank ATMs Open 24/7?

Do Community Shores Bank ATMs accept cash deposits?

Can Community Shores Bank customers use other ATMs?

Do Community Shores Bank branches have notaries?

Will Community Shores Bank notarize my document?

What address for Community Shores Bank should I put for incoming ACH transfers?

Will the Community Shores Bank branch print checks?

Do Community Shores Bank checks expire?

Does Community Shores Bank require US citizenship to open account?

Can Community Shores Bank close my account?

Does Community Shores Bank Report to credit bureaus?

Does Community Shores Bank Use Equifax?

What is Community Shores Bank's ACH Routing Number?

What is Community Shores Bank's SWIFT code?

Products

Does Community Shores Bank offer mortgages?

Compare mortgage rates here.

Does Community Shores Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Community Shores Bank offer personal loans?

Compare personal loan rates here.

Does Community Shores Bank offer student loans?

Will Community Shores Bank cash a check?

Will Community Shores Bank redeem a savings bond?

Does Community Shores Bank cash savings bonds?

Will Community Shores Bank cash money orders?

Can Community Shores Bank issue a money order?

Does Community Shores Bank do currency exchange?

Background on The Bank

Who owns Community Shores Bank?

How long has Community Shores Bank been around?

Can Community Shores Bank transfer to other banks?

Does Community Shores Bank have quick pay?

Does Community Shores Bank accept rolled coins?

Will Community Shores Bank accept loose change?

Where is Community Shores Bank headquarters?

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