First Central Savings Bank

Headquarters

70 Glen Street
Glen Cove, NY 11542
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.05% →
1-Year CD 0.50% 0.95% →
2-Year CD 0.50% 1.05% →
5-Year CD 0.50% 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 Central Savings Bank is an FDIC insured institution located in Glen Cove, NY. It was founded in 1999 and has approximately $0.63 billion in assets. Customers can open an account at one of its 10 branches.

FDIC Insured Yes
FDIC Certificate # 34969
Date Established 1999
Assets $ 632.48 million
Loans $ 525.69 million
Deposits $ 531.41 million
Capital $ 59.61 million
 

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

Deposit Rates - September 18, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Money Market
0.90% $50,000 - Learn More
CD Rates APY MIN MAX
6 Mo CD
0.20% $500 - Learn More
12 Mo CD
0.50% $500 - Learn More
18 Mo CD
0.50% $500 - Learn More
24 Mo CD
0.50% $500 - Learn More
36 Mo CD
0.50% $500 - Learn More
48 Mo CD
0.50% $500 - Learn More
60 Mo CD
0.50% $500 - Learn More


Loan Rates - September 18, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for First Central Savings 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
2.815% 2.750% 0.88 $2,118 $1,021 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
2.990 %
$0 Learn More
More Info

Note to First Central Savings Bank
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Branches

First Central 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:
Fairfield,Connecticut


First Central Savings Bank Locations


Financial Details

First Central Savings Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First Central 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
First Central Savings Bank U.S. Bank Average
2.73% 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 Central Savings Bank had $1,759,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $59,610,000 in equity and $4,771,000 in loans loss reserves. That gives it a Texas Ratio of 2.73%.

Return on Equity
First Central Savings Bank U.S. Bank Average
4.83% 7.80%

First Central Savings Bank has a Return on Equity of 4.83% 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 Central Savings Bank U.S. Bank Average
9.42% 12.68%

First Central Savings Bank has a Capitalization of 9.42% 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 Central Savings Bank Balance Sheet Analysis

As of March 31, 2020, First Central Savings Bank had assets of $632,477,000, loans of $525,693,000, and deposits of $531,409,000. 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 $ 62.98 million
Interest-bearing balances $ 55.25 million
Total securities $ 14.63 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 525.69 million
Loan loss allowance $ 4.77 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 $ 27.48 million
     Total Assets $ 572.87 million
LIABILITIES
Total deposits $ 531.41 million
      Interest-bearing deposits $ 475.08 million
      Deposits held in domestic offices $ 531.41 million
      % insured (estimated) 77.45%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 40.00 million
Subordinated debt N.A.
All other liabilities $ 1.46 million
      Total Liabilities $ 572.87 million
      Shareholders’ Equity $ 59.61 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 7.20 million
Total Interest Expense $ 2.47 million
Net interest income $ 4.73 million
Provision for loan and lease losses $ 0.25 million
Total non interest income $ 0.45 million
Total non interest expense $ 4.11 million
Pre-tax Net Operating Income $ 0.82 million

Bank Loan Profile?

The top three loan types in First Central Savings Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Construction and Development Loans.

Compared to other banks in New York, First Central Savings Bank has a significantly higher percent of Construction and Development 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 22.86
Multifamily
Mortgages
3.76
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 5.32
Construction and Development Loans 17.25
Commercial Real Estate 41.67
Commercial and Industrial Loans 15.08
Farm Loans 0.00

Frequently Asked Questions About First Central Savings Bank

Branches and Savings

Is First Central Savings Bank FDIC insured?

Yes. It is covered under FDIC Certificate #34969.

Why does First Central 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 First Central Savings Bank CD rates not competitive?

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

Is First Central Savings Bank a commercial bank?

Yes

Where are First Central Savings Bank locations?

See branch locations nearby.

Is First Central Savings Bank open on Saturdays?

Is First Central Savings Bank open on Sundays?

What time does First Central Savings Bank open?

What time does First Central Savings Bank close?

Are First Central Savings Bank ATMs Open 24/7?

Do First Central Savings Bank ATMs accept cash deposits?

Can First Central Savings Bank customers use other ATMs?

Do First Central Savings Bank branches have notaries?

Will First Central Savings Bank notarize my document?

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

Will the First Central Savings Bank branch print checks?

Do First Central Savings Bank checks expire?

Does First Central Savings Bank require US citizenship to open account?

Can First Central Savings Bank close my account?

Does First Central Savings Bank Report to credit bureaus?

Does First Central Savings Bank Use Equifax?

What is First Central Savings Bank's ACH Routing Number?

What is First Central Savings Bank's SWIFT code?

Products

Does First Central Savings Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does First Central Savings Bank offer personal loans?

Compare personal loan rates here.

Does First Central Savings Bank offer student loans?

Will First Central Savings Bank cash a check?

Will First Central Savings Bank redeem a savings bond?

Does First Central Savings Bank cash savings bonds?

Will First Central Savings Bank cash money orders?

Can First Central Savings Bank issue a money order?

Does First Central Savings Bank do currency exchange?

Background on The Bank

Who owns First Central Savings Bank?

How long has First Central Savings Bank been around?

Can First Central Savings Bank transfer to other banks?

Does First Central Savings Bank have quick pay?

Does First Central Savings Bank accept rolled coins?

Will First Central Savings Bank accept loose change?

Where is First Central Savings Bank headquarters?

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