Financial Security Bank

Headquarters

1011 Atlantic Ave
Kerkhoven, MN 56252
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 0.95% →
1-Year CD 0.70% 1.01% →
2-Year CD 0.85% 0.95% →
5-Year CD N.A. 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

Financial Security Bank is an FDIC insured institution located in Kerkhoven, MN. It was founded in 1906 and has approximately $0.11 billion in assets. Customers can open an account at one of its 2 branches.

FDIC Insured Yes
FDIC Certificate # 10176
Date Established 1906
Assets $ 107.71 million
Loans $ 84.38 million
Deposits $ 86.20 million
Capital $ 9.36 million
 

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

Deposit Rates - October 22, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.10% $2,500 $4,999 Learn More
Money Market
0.10% $2,500 $2,999 Learn More
Money Market
0.15% $10,000 $14,999 Learn More
Money Market
0.20% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.20% $10,000 $14,999 Learn More
3 Mo CD
0.25% $10,000 $14,999 Learn More
3 Mo CD
0.25% $100,000 $199,999 Learn More
3 Mo CD
0.30% $100,000 $199,999 Learn More
6 Mo CD
0.30% $10,000 $14,999 Learn More
6 Mo CD
0.35% $10,000 $14,999 Learn More
6 Mo CD
0.35% $100,000 $199,999 Learn More
6 Mo CD
0.40% $100,000 $199,999 Learn More
12 Mo CD
0.60% $10,000 $14,999 Learn More
12 Mo CD
0.65% $10,000 $14,999 Learn More
12 Mo CD
0.70% $100,000 $199,999 Learn More
12 Mo CD
0.65% $100,000 $199,999 Learn More
24 Mo CD
0.80% $10,000 $14,999 Learn More
24 Mo CD
0.85% $100,000 $199,999 Learn More
36 Mo CD
1.00% $10,000 $14,999 Learn More
36 Mo CD
1.05% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.10% $2,500 $3,499 Learn MoreShow Less

Loan Rates - October 22, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Financial Security 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
AimLoan.com
NMLS ID: 2890
License#: 13256
2.570% 2.500% 0.88 $2,312 $988 Learn More
Rocket Mortgage
NMLS ID: 3030
3.620% 3.500% 1.00 $3,750 $1,123 Learn More
First Internet Bank
NMLS ID: 424182
2.566% 2.500% 0.88 $2,172 $988 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
2.240 %
$0 Learn More
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People's United Bank, N.A.
People's United Bank, N.A.
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4.000 %
$0 Learn More
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Note to Financial Security Bank
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Branches

Financial Security 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


Financial Security Bank Locations


Financial Details

Financial Security Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Financial Security 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
Financial Security Bank U.S. Bank Average
12.16% 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, Financial Security Bank had $344,000 in non-current loans and $879,000 in owned real estate. To cover these potential losses it had $9,362,000 in equity and $696,000 in loans loss reserves. That gives it a Texas Ratio of 12.16%.

Return on Equity
Financial Security Bank U.S. Bank Average
7.19% 7.80%

Financial Security Bank has a Return on Equity of 7.19% 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
Financial Security Bank U.S. Bank Average
8.69% 12.68%

Financial Security Bank has a Capitalization of 8.69% 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.

Financial Security Bank Balance Sheet Analysis

As of March 31, 2020, Financial Security Bank had assets of $107,710,000, loans of $84,384,000, and deposits of $86,204,000. 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 $ 2.58 million
Interest-bearing balances $ 1.42 million
Total securities $ 5.03 million
Federal funds sold and reverse repurchase $ 10.10 million
Net loans and leases $ 84.38 million
Loan loss allowance $ 0.70 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.88 million
Goodwill and other intangibles N.A.
All other assets $ 1.24 million
     Total Assets $ 98.35 million
LIABILITIES
Total deposits $ 86.20 million
      Interest-bearing deposits $ 64.64 million
      Deposits held in domestic offices $ 86.20 million
      % insured (estimated) 81.81%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 12.00 million
Subordinated debt N.A.
All other liabilities $ 0.14 million
      Total Liabilities $ 98.35 million
      Shareholders’ Equity $ 9.36 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 1.19 million
Total Interest Expense $ 0.28 million
Net interest income $ 0.91 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.09 million
Total non interest expense $ 0.84 million
Pre-tax Net Operating Income $ 0.17 million

Bank Loan Profile?

The top three loan types in Financial Security Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Commercial and Industrial Loans.

Compared to other banks in Minnesota, Financial Security Bank has a significantly higher percent of Commercial Real Estate 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 16.56
Multifamily
Mortgages
1.60
Credit Card Loans 0.00
Consumer Auto Loans 0.39
Small Business Loans 0.00
Construction and Development Loans 3.32
Commercial Real Estate 42.41
Commercial and Industrial Loans 12.07
Farm Loans 9.88

Frequently Asked Questions About Financial Security Bank

Branches and Savings

Is Financial Security Bank FDIC insured?

Yes. It is covered under FDIC Certificate #10176.

Why does Financial Security Bank pay such low interest on savings accounts?

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

Why are Financial Security Bank CD rates not competitive?

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

Is Financial Security Bank a commercial bank?

Yes

Where are Financial Security Bank locations?

See branch locations nearby.

Is Financial Security Bank open on Saturdays?

Is Financial Security Bank open on Sundays?

What time does Financial Security Bank open?

What time does Financial Security Bank close?

Are Financial Security Bank ATMs Open 24/7?

Do Financial Security Bank ATMs accept cash deposits?

Can Financial Security Bank customers use other ATMs?

Do Financial Security Bank branches have notaries?

Will Financial Security Bank notarize my document?

What address for Financial Security Bank should I put for incoming ACH transfers?

Will the Financial Security Bank branch print checks?

Do Financial Security Bank checks expire?

Does Financial Security Bank require US citizenship to open account?

Can Financial Security Bank close my account?

Does Financial Security Bank Report to credit bureaus?

Does Financial Security Bank Use Equifax?

What is Financial Security Bank's ACH Routing Number?

What is Financial Security Bank's SWIFT code?

Products

Does Financial Security Bank offer mortgages?

Compare mortgage rates here.

Does Financial Security Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Financial Security Bank offer personal loans?

Compare personal loan rates here.

Does Financial Security Bank offer student loans?

Will Financial Security Bank cash a check?

Will Financial Security Bank redeem a savings bond?

Does Financial Security Bank cash savings bonds?

Will Financial Security Bank cash money orders?

Can Financial Security Bank issue a money order?

Does Financial Security Bank do currency exchange?

Background on The Bank

Who owns Financial Security Bank?

How long has Financial Security Bank been around?

Can Financial Security Bank transfer to other banks?

Does Financial Security Bank have quick pay?

Does Financial Security Bank accept rolled coins?

Will Financial Security Bank accept loose change?

Where is Financial Security Bank headquarters?

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