First Bank of Boaz

Headquarters

124 South Main Street
Boaz, AL 35957
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 0.95% →
1-Year CD 0.50% 1.01% →
2-Year CD 0.75% 0.95% →
5-Year CD 0.75% 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

First Bank of Boaz is an FDIC insured institution located in Boaz, AL. It was founded in 1906 and has approximately $0.23 billion in assets.

FDIC Insured Yes
FDIC Certificate # 2784
Date Established 1906
Assets $ 226.28 million
Loans $ 58.87 million
Deposits $ 168.20 million
Capital $ 42.73 million
 

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

Deposit Rates - October 28, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.10% $2,500 $4,999 Learn More
Money Market
0.25% $10,000 $14,999 Learn More
Money Market
0.25% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.15% $10,000 $14,999 Learn More
3 Mo CD
0.15% $100,000 $199,999 Learn More
6 Mo CD
0.35% $10,000 $14,999 Learn More
6 Mo CD
0.35% $100,000 $199,999 Learn More
12 Mo CD
0.50% $10,000 $14,999 Learn More
12 Mo CD
0.50% $100,000 $199,999 Learn More
18 Mo CD
0.50% $10,000 $14,999 Learn More
18 Mo CD
0.50% $100,000 $199,999 Learn More
24 Mo CD
0.75% $10,000 $14,999 Learn More
24 Mo CD
0.75% $100,000 $199,999 Learn More
30 Mo CD
0.75% $10,000 $14,999 Learn More
30 Mo CD
0.75% $100,000 $199,999 Learn More
60 Mo CD
0.75% $10,000 $14,999 Learn More
60 Mo CD
0.75% $100,000 $199,999 Learn More


Loan Rates - October 28, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for First Bank of Boaz

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Virginia 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.674% 2.625% 0.63 $1,595 $1,005 Learn More
Rocket Mortgage
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More

Featured - Virginia 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
More Info

Note to First Bank of Boaz
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Branches

First Bank of Boaz 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


First Bank of Boaz Locations


Financial Details

First Bank of Boaz Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First Bank of Boaz. 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
First Bank of Boaz U.S. Bank Average
0.29% 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, First Bank of Boaz had $75,000 in non-current loans and $52,000 in owned real estate. To cover these potential losses it had $42,725,000 in equity and $857,000 in loans loss reserves. That gives it a Texas Ratio of 0.29%.

Return on Equity
First Bank of Boaz U.S. Bank Average
9.42% 7.80%

First Bank of Boaz has a Return on Equity of 9.42% 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
First Bank of Boaz U.S. Bank Average
18.88% 12.68%

First Bank of Boaz has a Capitalization of 18.88% 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.

First Bank of Boaz Balance Sheet Analysis

As of March 31, 2020, First Bank of Boaz had assets of $226,279,000, loans of $58,871,000, and deposits of $168,204,000. 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 $ 3.95 million
Interest-bearing balances $ 2.27 million
Total securities $ 156.27 million
Federal funds sold and reverse repurchase $ 3.25 million
Net loans and leases $ 58.87 million
Loan loss allowance $ 0.86 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.05 million
Goodwill and other intangibles N.A.
All other assets $ 3.38 million
     Total Assets $ 183.55 million
LIABILITIES
Total deposits $ 168.20 million
      Interest-bearing deposits $ 134.74 million
      Deposits held in domestic offices $ 168.20 million
      % insured (estimated) 73.05%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 15.00 million
Subordinated debt N.A.
All other liabilities $ 0.35 million
      Total Liabilities $ 183.55 million
      Shareholders’ Equity $ 42.73 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 2.27 million
Total Interest Expense $ 0.45 million
Net interest income $ 1.82 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.12 million
Total non interest expense $ 0.84 million
Pre-tax Net Operating Income $ 1.09 million

Bank Loan Profile?

The top three loan types in First Bank of Boaz’s loan portfolio are Commercial Real Estate, Small Business Loans, and 1-4 Family Residential Loans.

Compared to other banks in Alabama, First Bank of Boaz has a significantly higher percent of Small Business 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 25.18
Multifamily
Mortgages
0.63
Credit Card Loans 0.00
Consumer Auto Loans 4.04
Small Business Loans 25.54
Construction and Development Loans 12.14
Commercial Real Estate 29.76
Commercial and Industrial Loans 20.77
Farm Loans 1.94

Frequently Asked Questions About First Bank Of Boaz

Branches and Savings

Is First Bank Of Boaz FDIC insured?

Yes. It is covered under FDIC Certificate #2784.

Why does First Bank Of Boaz pay such low interest on savings accounts?

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

Why are First Bank Of Boaz CD rates not competitive?

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

Is First Bank Of Boaz a commercial bank?

Yes

Where are First Bank Of Boaz locations?

See branch locations nearby.

Is First Bank Of Boaz open on Saturdays?

Is First Bank Of Boaz open on Sundays?

What time does First Bank Of Boaz open?

What time does First Bank Of Boaz close?

Are First Bank Of Boaz ATMs Open 24/7?

Do First Bank Of Boaz ATMs accept cash deposits?

Can First Bank Of Boaz customers use other ATMs?

Do First Bank Of Boaz branches have notaries?

Will First Bank Of Boaz notarize my document?

What address for First Bank Of Boaz should I put for incoming ACH transfers?

Will the First Bank Of Boaz branch print checks?

Do First Bank Of Boaz checks expire?

Does First Bank Of Boaz require US citizenship to open account?

Can First Bank Of Boaz close my account?

Does First Bank Of Boaz Report to credit bureaus?

Does First Bank Of Boaz Use Equifax?

What is First Bank Of Boaz's ACH Routing Number?

What is First Bank Of Boaz's SWIFT code?

Products

Does First Bank Of Boaz offer mortgages?

Compare mortgage rates here.

Does First Bank Of Boaz offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does First Bank Of Boaz offer personal loans?

Compare personal loan rates here.

Does First Bank Of Boaz offer student loans?

Will First Bank Of Boaz cash a check?

Will First Bank Of Boaz redeem a savings bond?

Does First Bank Of Boaz cash savings bonds?

Will First Bank Of Boaz cash money orders?

Can First Bank Of Boaz issue a money order?

Does First Bank Of Boaz do currency exchange?

Background on The Bank

Who owns First Bank Of Boaz?

How long has First Bank Of Boaz been around?

Can First Bank Of Boaz transfer to other banks?

Does First Bank Of Boaz have quick pay?

Does First Bank Of Boaz accept rolled coins?

Will First Bank Of Boaz accept loose change?

Where is First Bank Of Boaz headquarters?

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