First Electronic Bank

Headquarters

2150 South 1300 East Suite 400
Salt Lake City, UT 84106
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.70% →
1-Year CD N.A. 0.71% →
2-Year CD N.A. 0.81% →
5-Year CD N.A. 1.15% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

First Electronic Bank is an FDIC insured institution located in Salt Lake City, UT. It was founded in 2000 and has approximately $0.04 billion in assets.

FDIC Insured Yes
FDIC Certificate # 35533
Date Established 2000
Assets $ 37.51 million
Loans $ 12.14 million
Deposits $ 16.79 million
Capital $ 16.32 million
 

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

Deposit Rates - January 27, 2021

Your Current Location: Connecticut, CT 06828

 

Loan Rates - January 27, 2021

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for First Electronic 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 2021

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Payment
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Rocket Mortgage
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3.243% 3.125% 1.00 $3,750 $1,071 Learn More
First Internet Bank
NMLS ID: 424182
2.650% 2.625% 0.38 $815 $1,005 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2021

Lender APR (%)? Monthly Payment? Learn More
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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Third Federal Savings and Loans
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2.240 %
$0 Learn More
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Note to First Electronic Bank
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Branches

First Electronic 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 Electronic Bank Locations


Financial Details

First Electronic Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First Electronic 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 Electronic Bank U.S. Bank Average
0% 6.14%

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 September 30, 2020, First Electronic Bank had $0 in non-current loans and $0 in owned real estate. To cover these potential losses it had $16,321,000 in equity and $0 in loans loss reserves. That gives it a Texas Ratio of 0%.

Return on Equity
First Electronic Bank U.S. Bank Average
4.35% 9.23%

First Electronic Bank has a Return on Equity of 4.35% versus the BestCashCow average of 9.23%. 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 Electronic Bank U.S. Bank Average
43.52% 12.07%

First Electronic Bank has a Capitalization of 43.52% versus the BestCashCow average of 12.07. 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 Electronic Bank Balance Sheet Analysis

As of September 30, 2020, First Electronic Bank had assets of $37,505,000, loans of $12,138,000, and deposits of $16,788,000. 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

September 30, 2020
ASSETS
Cash & Balances due from depository institutions $ 22.78 million
Interest-bearing balances $ 19.78 million
Total securities $ 0.04 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 12.14 million
Loan loss allowance N.A.
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 0.01 million
All other assets $ 2.51 million
     Total Assets $ 21.18 million
LIABILITIES
Total deposits $ 16.79 million
      Interest-bearing deposits $ 15.08 million
      Deposits held in domestic offices $ 16.79 million
      % insured (estimated) 51.44%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 4.40 million
      Total Liabilities $ 21.18 million
      Shareholders’ Equity $ 16.32 million

Summary Income Statement

September 30, 2020
INCOME AND EXPENSES
Total Interest Income $ 2.83 million
Total Interest Expense $ 0.21 million
Net interest income $ 2.62 million
Provision for loan and lease losses N.A.
Total non interest income $ 7.33 million
Total non interest expense $ 9.16 million
Pre-tax Net Operating Income $ 0.79 million

Bank Loan Profile?

The top three loan types in First Electronic Bank’s loan portfolio are Commercial and Industrial Loans, Credit Card Loans, and Multifamily Mortgages.

Compared to other banks, First Electronic 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 0.00
Multifamily
Mortgages
0.44
Credit Card Loans 30.78
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 0.00
Commercial Real Estate 0.00
Commercial and Industrial Loans 33.94
Farm Loans 0.00

Frequently Asked Questions About First Electronic Bank

Branches and Savings

Is First Electronic Bank FDIC insured?

Yes. It is covered under FDIC Certificate #35533.

Why does First Electronic 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 Electronic Bank CD rates not competitive?

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

Is First Electronic Bank a commercial bank?

Yes

Where are First Electronic Bank locations?

See branch locations nearby.

Is First Electronic Bank open on Saturdays?

Is First Electronic Bank open on Sundays?

What time does First Electronic Bank open?

What time does First Electronic Bank close?

Are First Electronic Bank ATMs Open 24/7?

Do First Electronic Bank ATMs accept cash deposits?

Can First Electronic Bank customers use other ATMs?

Do First Electronic Bank branches have notaries?

Will First Electronic Bank notarize my document?

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

Will the First Electronic Bank branch print checks?

Do First Electronic Bank checks expire?

Does First Electronic Bank require US citizenship to open account?

Can First Electronic Bank close my account?

Does First Electronic Bank Report to credit bureaus?

Does First Electronic Bank Use Equifax?

What is First Electronic Bank's ACH Routing Number?

What is First Electronic Bank's SWIFT code?

Products

Does First Electronic Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does First Electronic Bank offer personal loans?

Compare personal loan rates here.

Does First Electronic Bank offer student loans?

Will First Electronic Bank cash a check?

Will First Electronic Bank redeem a savings bond?

Does First Electronic Bank cash savings bonds?

Will First Electronic Bank cash money orders?

Can First Electronic Bank issue a money order?

Does First Electronic Bank do currency exchange?

Background on The Bank

Who owns First Electronic Bank?

How long has First Electronic Bank been around?

Can First Electronic Bank transfer to other banks?

Does First Electronic Bank have quick pay?

Does First Electronic Bank accept rolled coins?

Will First Electronic Bank accept loose change?

Where is First Electronic Bank headquarters?

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