Elmira Savings Bank

Headquarters

333 East Water Street
Elmira, NY 14901
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.03% 1.40% →
1-Year CD 0.15% 1.15% →
2-Year CD 0.35% 1.26% →
5-Year CD 0.60% 1.60% →
30-Year Mortgage 3.96% 3.09% →
15-Year Mortgage 3.52% 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Elmira Savings Bank is an FDIC insured institution located in Elmira, NY. It was founded in 1869 and has approximately $0.61 billion in assets. Customers can open an account at one of its 13 branches.

FDIC Insured Yes
FDIC Certificate # 16001
Date Established 1869
Assets $ 607.05 million
Loans $ 515.87 million
Deposits $ 512.59 million
Capital $ 58.61 million
 

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

Deposit Rates - July 3, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.03% $200 - Learn More
Money Market
0.03% $1 $9,999 Learn More
Money Market
0.03% $500 $49,999 Learn More
Money Market
0.03% $25,000 $49,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.08% $100,000 - Learn More
6 Mo CD
0.08% $10,000 - Learn More
6 Mo CD
0.08% $100,000 - Learn More
Special: 9 Mo CD
0.70% $10,000 - Learn More
12 Mo CD
0.10% $10,000 $99,999 Learn More
12 Mo CD
0.15% $10,000 - Learn More
12 Mo CD
0.15% $100,000 - Learn More
Special: 15 Mo CD
0.90% $10,000 - Learn More
18 Mo CD
0.15% $10,000 - Learn More
18 Mo CD
0.10% $10,000 - Learn More
24 Mo CD
0.35% $10,000 - Learn More
24 Mo CD
0.25% $10,000 - Learn More
30 Mo CD
0.40% $10,000 - Learn More
30 Mo CD
0.25% $10,000 - Learn More
36 Mo CD
0.50% $10,000 - Learn More
36 Mo CD
0.30% $10,000 - Learn More
48 Mo CD
0.50% $10,000 - Learn More
48 Mo CD
0.40% $10,000 - Learn More
60 Mo CD
0.60% $10,000 - Learn More

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.10% $1 $9,999 Learn MoreShow Less
Special: 18 Mo FIRA
1.00% $500 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.10% $50 - Learn MoreShow Less

Loan Rates - July 3, 2020

Your Current Location: Virginia, VA 20146

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

Elmira Savings 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:
Ashburn,Virginia


Elmira Savings Bank Locations


Financial Details

Elmira Savings Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Elmira Savings 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
Elmira Savings Bank U.S. Bank Average
7.36% 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, Elmira Savings Bank had $4,217,000 in non-current loans and $431,000 in owned real estate. To cover these potential losses it had $58,611,000 in equity and $4,576,000 in loans loss reserves. That gives it a Texas Ratio of 7.36%.

Return on Equity
Elmira Savings Bank U.S. Bank Average
5.98% 9.41%

Elmira Savings Bank has a Return on Equity of 5.98% 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
Elmira Savings Bank U.S. Bank Average
9.66% 12.82%

Elmira Savings Bank has a Capitalization of 9.66% 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.

Elmira Savings Bank Balance Sheet Analysis

As of December 31, 2019, Elmira Savings Bank had assets of $607,045,000, loans of $515,866,000, and deposits of $512,586,000. 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 $ 11.95 million
Interest-bearing balances $ 5.27 million
Total securities $ 18.82 million
Federal funds sold and reverse repurchase $ 0.09 million
Net loans and leases $ 515.87 million
Loan loss allowance $ 4.58 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.43 million
Goodwill and other intangibles $ 13.33 million
All other assets $ 28.49 million
     Total Assets $ 548.43 million
LIABILITIES
Total deposits $ 512.59 million
      Interest-bearing deposits $ 429.93 million
      Deposits held in domestic offices $ 512.59 million
      % insured (estimated) 86.37%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 30.94 million
Subordinated debt N.A.
All other liabilities $ 4.91 million
      Total Liabilities $ 548.43 million
      Shareholders’ Equity $ 58.61 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 23.26 million
Total Interest Expense $ 6.83 million
Net interest income $ 16.43 million
Provision for loan and lease losses $ 0.74 million
Total non interest income $ 4.71 million
Total non interest expense $ 16.30 million
Pre-tax Net Operating Income $ 4.09 million

Bank Loan Profile?

The top three loan types in Elmira Savings Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Multifamily Mortgages.

Compared to other banks in New York, Elmira Savings Bank has a significantly higher percent of 1-4 Family Residential 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 63.92
Multifamily
Mortgages
8.42
Credit Card Loans 0.00
Consumer Auto Loans 4.08
Small Business Loans 6.00
Construction and Development Loans 3.25
Commercial Real Estate 12.02
Commercial and Industrial Loans 5.49
Farm Loans 0.00

Frequently Asked Questions About Elmira Savings Bank

Branches and Savings

Is Elmira Savings Bank FDIC insured?

Yes. It is covered under FDIC Certificate #16001.

Why does Elmira Savings Bank pay such low interest on savings accounts?

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

Why are Elmira Savings Bank CD rates not competitive?

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

Is Elmira Savings Bank a commercial bank?

Yes

Where are Elmira Savings Bank locations?

See branch locations nearby.

Is Elmira Savings Bank open on Saturdays?

Is Elmira Savings Bank open on Sundays?

What time does Elmira Savings Bank open?

What time does Elmira Savings Bank close?

Are Elmira Savings Bank ATMs Open 24/7?

Do Elmira Savings Bank ATMs accept cash deposits?

Can Elmira Savings Bank customers use other ATMs?

Do Elmira Savings Bank branches have notaries?

Will Elmira Savings Bank notarize my document?

What address for Elmira Savings Bank should I put for incoming ACH transfers?

Will the Elmira Savings Bank branch print checks?

Do Elmira Savings Bank checks expire?

Does Elmira Savings Bank require US citizenship to open account?

Can Elmira Savings Bank close my account?

Does Elmira Savings Bank Report to credit bureaus?

Does Elmira Savings Bank Use Equifax?

What is Elmira Savings Bank's ACH Routing Number?

What is Elmira Savings Bank's SWIFT code?

Products

Does Elmira Savings Bank offer mortgages?

Compare mortgage rates here.

Does Elmira Savings Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Elmira Savings Bank offer personal loans?

Compare personal loan rates here.

Does Elmira Savings Bank offer student loans?

Will Elmira Savings Bank cash a check?

Will Elmira Savings Bank redeem a savings bond?

Does Elmira Savings Bank cash savings bonds?

Will Elmira Savings Bank cash money orders?

Can Elmira Savings Bank issue a money order?

Does Elmira Savings Bank do currency exchange?

Background on The Bank

Who owns Elmira Savings Bank?

How long has Elmira Savings Bank been around?

Can Elmira Savings Bank transfer to other banks?

Does Elmira Savings Bank have quick pay?

Does Elmira Savings Bank accept rolled coins?

Will Elmira Savings Bank accept loose change?

Where is Elmira Savings Bank headquarters?

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