First National Bank of Scotia

Headquarters

201 Mohawk Avenue
Scotia, NY 12302
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 1.05% →
1-Year CD 0.35% 1.05% →
2-Year CD 0.55% 1.11% →
5-Year CD 1.01% 1.56% →
30-Year Mortgage 3.50% 3.09% →
15-Year Mortgage 3.18% 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

First National Bank of Scotia is an FDIC insured institution located in Scotia, NY. It was founded in 1923 and has approximately $0.49 billion in assets. Customers can open an account at one of its 10 branches.

FDIC Insured Yes
FDIC Certificate # 11501
Date Established 1923
Assets $ 492.18 million
Loans $ 400.40 million
Deposits $ 444.36 million
Capital $ 39.77 million
 

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

Deposit Rates - August 10, 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
0.10% $10,000 $14,999 Learn More
Money Market
0.21% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.10% $10,000 $14,999 Learn More
6 Mo CD
0.20% $10,000 $14,999 Learn More
12 Mo CD
0.35% $10,000 $14,999 Learn More
Special: 15 Mo CD
0.77% $2,500 - Learn More
24 Mo CD
0.55% $10,000 $14,999 Learn More
36 Mo CD
0.67% $10,000 $14,999 Learn More
48 Mo CD
0.81% $10,000 $14,999 Learn More
48 Mo CD
0.97% $100,000 $199,999 Learn More
60 Mo CD
0.90% $10,000 $14,999 Learn More
60 Mo CD
1.01% $100,000 $199,999 Learn More

Fixed IRA Rates APY MIN MAX
Special: 15 Mo FIRA
0.77% $2,500 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $2,500 $3,499 Learn MoreShow Less
Checking Rates APY MIN FEE
NOW Checking 0.02% $500 $3.00 Learn MoreShow Less
Free Checking 0.00% $0 $5.00 Learn MoreShow Less

Loan Rates - August 10, 2020

Your Current Location: Connecticut, CT 06828

Auto Loan Rates APR Rate Monthly Payment
3 Year 3.59% 3.59% $733.55
4 Year 3.59% 3.59% $559.90
5 Year 3.59% 3.59% $455.80
Home Equity Rates APR Rate Monthly Payment
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

First National Bank of Scotia 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 National Bank of Scotia Locations


Financial Details

First National Bank of Scotia Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First National Bank of Scotia. 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 National Bank of Scotia U.S. Bank Average
3% 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 National Bank of Scotia had $1,333,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $39,769,000 in equity and $4,695,000 in loans loss reserves. That gives it a Texas Ratio of 3%.

Return on Equity
First National Bank of Scotia U.S. Bank Average
8.02% 7.80%

First National Bank of Scotia has a Return on Equity of 8.02% 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 National Bank of Scotia U.S. Bank Average
8.08% 12.68%

First National Bank of Scotia has a Capitalization of 8.08% 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 National Bank of Scotia Balance Sheet Analysis

As of March 31, 2020, First National Bank of Scotia had assets of $492,184,000, loans of $400,397,000, and deposits of $444,361,000. 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 $ 37.31 million
Interest-bearing balances $ 24.58 million
Total securities $ 33.13 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 400.40 million
Loan loss allowance $ 4.70 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 0.60 million
All other assets $ 14.12 million
     Total Assets $ 452.42 million
LIABILITIES
Total deposits $ 444.36 million
      Interest-bearing deposits $ 316.11 million
      Deposits held in domestic offices $ 444.36 million
      % insured (estimated) 85.76%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 8.05 million
      Total Liabilities $ 452.42 million
      Shareholders’ Equity $ 39.77 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 4.81 million
Total Interest Expense $ 0.27 million
Net interest income $ 4.54 million
Provision for loan and lease losses $ 0.17 million
Total non interest income $ 0.71 million
Total non interest expense $ 4.05 million
Pre-tax Net Operating Income $ 1.04 million

Bank Loan Profile?

The top three loan types in First National Bank of Scotia’s loan portfolio are Consumer Auto Loans, 1-4 Family Residential Loans, and Commercial Real Estate.

Compared to other banks in New York, First National Bank of Scotia has a significantly higher percent of Credit Card Loans, Consumer Auto 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 29.54
Multifamily
Mortgages
3.52
Credit Card Loans 0.75
Consumer Auto Loans 29.69
Small Business Loans 6.63
Construction and Development Loans 4.06
Commercial Real Estate 19.21
Commercial and Industrial Loans 13.15
Farm Loans 0.04

Frequently Asked Questions About First National Bank Of Scotia

Branches and Savings

Is First National Bank Of Scotia FDIC insured?

Yes. It is covered under FDIC Certificate #11501.

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

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

Why are First National Bank Of Scotia CD rates not competitive?

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

Is First National Bank Of Scotia a commercial bank?

Yes

Where are First National Bank Of Scotia locations?

See branch locations nearby.

Is First National Bank Of Scotia open on Saturdays?

Is First National Bank Of Scotia open on Sundays?

What time does First National Bank Of Scotia open?

What time does First National Bank Of Scotia close?

Are First National Bank Of Scotia ATMs Open 24/7?

Do First National Bank Of Scotia ATMs accept cash deposits?

Can First National Bank Of Scotia customers use other ATMs?

Do First National Bank Of Scotia branches have notaries?

Will First National Bank Of Scotia notarize my document?

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

Will the First National Bank Of Scotia branch print checks?

Do First National Bank Of Scotia checks expire?

Does First National Bank Of Scotia require US citizenship to open account?

Can First National Bank Of Scotia close my account?

Does First National Bank Of Scotia Report to credit bureaus?

Does First National Bank Of Scotia Use Equifax?

What is First National Bank Of Scotia's ACH Routing Number?

What is First National Bank Of Scotia's SWIFT code?

Products

Does First National Bank Of Scotia offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does First National Bank Of Scotia offer personal loans?

Compare personal loan rates here.

Does First National Bank Of Scotia offer student loans?

Will First National Bank Of Scotia cash a check?

Will First National Bank Of Scotia redeem a savings bond?

Does First National Bank Of Scotia cash savings bonds?

Will First National Bank Of Scotia cash money orders?

Can First National Bank Of Scotia issue a money order?

Does First National Bank Of Scotia do currency exchange?

Background on The Bank

Who owns First National Bank Of Scotia?

How long has First National Bank Of Scotia been around?

Can First National Bank Of Scotia transfer to other banks?

Does First National Bank Of Scotia have quick pay?

Does First National Bank Of Scotia accept rolled coins?

Will First National Bank Of Scotia accept loose change?

Where is First National Bank Of Scotia headquarters?

Customer Reviews for First National Bank of Scotia


  • October 01, 2017

    Will play games with your account. changing posting dates and times. Will hold direct deposit so you overdraft your account.

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