Elgin State Bank

Headquarters

241 Center
Elgin, IA 52141
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.16% 0.91% →
1-Year CD 0.50% 0.85% →
2-Year CD 0.70% 0.95% →
5-Year CD 1.15% 1.30% →
30-Year Mortgage N.A. 2.61% →
15-Year Mortgage N.A. 2.31% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Elgin State Bank is an FDIC insured institution located in Elgin, IA. It was founded in 1930 and has approximately $0.02 billion in assets. Customers can open an account at one of its 2 branches.

FDIC Insured Yes
FDIC Certificate # 10489
Date Established 1930
Assets $ 24.88 million
Loans $ 11.85 million
Deposits $ 23.03 million
Capital $ 1.83 million
 

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

Deposit Rates - November 29, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.16% $50 - Learn More
Money Market
0.30% $2,500 - Learn More
CD Rates APY MIN MAX
6 Mo CD
0.40% $2,000 - Learn More
12 Mo CD
0.50% $2,000 - Learn More
18 Mo CD
0.60% $1,000 - Learn More
24 Mo CD
0.70% $1,000 - Learn More
30 Mo CD
0.70% $1,000 - Learn More
36 Mo CD
0.80% $1,000 - Learn More
48 Mo CD
1.00% $1,000 - Learn More
60 Mo CD
1.15% $1,000 - Learn More

Variable IRA Rates APY MIN MAX
Var IRA
1.55% $1 - Learn MoreShow Less
 

Loan Rates - November 29, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Elgin State 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
AmeriSave Mortgage Corporation
NMLS ID: 1168
2.687% 2.625% 0.63 $2,015 $1,005 Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
2.557% 2.500% 0.75 $1,880 $988 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
People's United Bank, N.A.
People's United Bank, N.A.
See Table
4.000 %
$0 Learn More
More Info
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.240 %
$0 Learn More
More Info

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

Branches

Elgin State 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


Elgin State Bank Locations


Financial Details

Elgin State Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Elgin State 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
Elgin State Bank U.S. Bank Average
0.15% 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, Elgin State Bank had $3,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $1,829,000 in equity and $116,000 in loans loss reserves. That gives it a Texas Ratio of 0.15%.

Return on Equity
Elgin State Bank U.S. Bank Average
-2.63% 7.80%

Elgin State Bank has a Return on Equity of -2.63% 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
Elgin State Bank U.S. Bank Average
7.35% 12.68%

Elgin State Bank has a Capitalization of 7.35% 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.

Elgin State Bank Balance Sheet Analysis

As of March 31, 2020, Elgin State Bank had assets of $24,883,000, loans of $11,853,000, and deposits of $23,029,000. 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 $ 4.43 million
Interest-bearing balances $ 3.78 million
Total securities $ 6.36 million
Federal funds sold and reverse repurchase $ 1.92 million
Net loans and leases $ 11.85 million
Loan loss allowance $ 0.12 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 $ 0.18 million
     Total Assets $ 23.05 million
LIABILITIES
Total deposits $ 23.03 million
      Interest-bearing deposits $ 15.39 million
      Deposits held in domestic offices $ 23.03 million
      % insured (estimated) 95.61%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 0.03 million
      Total Liabilities $ 23.05 million
      Shareholders’ Equity $ 1.83 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 0.22 million
Total Interest Expense $ 0.03 million
Net interest income $ 0.19 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.02 million
Total non interest expense $ 0.22 million
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in Elgin State Bank’s loan portfolio are 1-4 Family Residential Loans, Farm Loans, and Commercial and Industrial Loans.

Compared to other banks, Elgin State Bank’s loan portfolio does not show any specific loan specialty.

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 32.28
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 2.92
Small Business Loans 0.00
Construction and Development Loans 0.00
Commercial Real Estate 5.17
Commercial and Industrial Loans 7.73
Farm Loans 20.41

Frequently Asked Questions About Elgin State Bank

Branches and Savings

Is Elgin State Bank FDIC insured?

Yes. It is covered under FDIC Certificate #10489.

Why does Elgin State Bank pay such low interest on savings accounts?

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

Why are Elgin State Bank CD rates not competitive?

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

Is Elgin State Bank a commercial bank?

Yes

Where are Elgin State Bank locations?

See branch locations nearby.

Is Elgin State Bank open on Saturdays?

Is Elgin State Bank open on Sundays?

What time does Elgin State Bank open?

What time does Elgin State Bank close?

Are Elgin State Bank ATMs Open 24/7?

kevin jstark | Jun 02, 2019

your atm has been broken 4 -2 weeks please fix this problem

Do Elgin State Bank ATMs accept cash deposits?

Can Elgin State Bank customers use other ATMs?

Do Elgin State Bank branches have notaries?

Will Elgin State Bank notarize my document?

What address for Elgin State Bank should I put for incoming ACH transfers?

Will the Elgin State Bank branch print checks?

Do Elgin State Bank checks expire?

Does Elgin State Bank require US citizenship to open account?

Can Elgin State Bank close my account?

Does Elgin State Bank Report to credit bureaus?

Does Elgin State Bank Use Equifax?

What is Elgin State Bank's ACH Routing Number?

What is Elgin State Bank's SWIFT code?

Products

Does Elgin State Bank offer mortgages?

Compare mortgage rates here.

Does Elgin State Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Elgin State Bank offer personal loans?

Compare personal loan rates here.

Does Elgin State Bank offer student loans?

Will Elgin State Bank cash a check?

Will Elgin State Bank redeem a savings bond?

Does Elgin State Bank cash savings bonds?

Will Elgin State Bank cash money orders?

Can Elgin State Bank issue a money order?

Does Elgin State Bank do currency exchange?

Background on The Bank

Who owns Elgin State Bank?

How long has Elgin State Bank been around?

Can Elgin State Bank transfer to other banks?

Does Elgin State Bank have quick pay?

Does Elgin State Bank accept rolled coins?

Will Elgin State Bank accept loose change?

Where is Elgin State Bank headquarters?

Customer Reviews for Elgin State Bank

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

Add Your Review

Rate it here →