First Option Bank

Headquarters

601 Main Street
Osawatomie, KS 66064
See all branch locations →

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

First Option Bank is an FDIC insured institution located in Osawatomie, KS. It was founded in 1923 and has approximately $0.42 billion in assets. Customers can open an account at one of its 5 branches.

FDIC Insured Yes
FDIC Certificate # 4746
Date Established 1923
Assets $ 417.31 million
Loans $ 205.27 million
Deposits $ 378.98 million
Capital $ 36.33 million
 

For a more detailed analysis of First Option 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


Loan Rates - October 22, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for First Option 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

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3.620% 3.500% 1.00 $3,750 $1,123 Learn More
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License#: 13256
2.569% 2.500% 0.88 $2,258 $988 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

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People's United Bank, N.A.
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4.000 %
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Note to First Option Bank
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Branches

First Option 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 Option Bank Locations


Financial Details

First Option Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First Option 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 Option Bank U.S. Bank Average
1.47% 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 Option Bank had $536,000 in non-current loans and $37,000 in owned real estate. To cover these potential losses it had $36,333,000 in equity and $2,628,000 in loans loss reserves. That gives it a Texas Ratio of 1.47%.

Return on Equity
First Option Bank U.S. Bank Average
11.7% 7.80%

First Option Bank has a Return on Equity of 11.7% 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 Option Bank U.S. Bank Average
8.71% 12.68%

First Option Bank has a Capitalization of 8.71% 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 Option Bank Balance Sheet Analysis

As of March 31, 2020, First Option Bank had assets of $417,311,000, loans of $205,273,000, and deposits of $378,976,000. 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 $ 12.56 million
Interest-bearing balances $ 8.75 million
Total securities $ 171.53 million
Federal funds sold and reverse repurchase $ 9.67 million
Net loans and leases $ 205.27 million
Loan loss allowance $ 2.63 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.04 million
Goodwill and other intangibles $ 1.02 million
All other assets $ 10.02 million
     Total Assets $ 380.98 million
LIABILITIES
Total deposits $ 378.98 million
      Interest-bearing deposits $ 280.30 million
      Deposits held in domestic offices $ 378.98 million
      % insured (estimated) 69.14%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 2.00 million
      Total Liabilities $ 380.98 million
      Shareholders’ Equity $ 36.33 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 3.76 million
Total Interest Expense $ 0.61 million
Net interest income $ 3.15 million
Provision for loan and lease losses $ 0.14 million
Total non interest income $ 1.57 million
Total non interest expense $ 3.44 million
Pre-tax Net Operating Income $ 1.14 million

Bank Loan Profile?

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

Compared to other banks in Kansas, First Option Bank has a significantly higher percent of 1-4 Family Residential 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 48.18
Multifamily
Mortgages
1.05
Credit Card Loans 0.47
Consumer Auto Loans 2.34
Small Business Loans 0.00
Construction and Development Loans 3.67
Commercial Real Estate 20.54
Commercial and Industrial Loans 7.12
Farm Loans 1.94

Frequently Asked Questions About First Option Bank

Branches and Savings

Is First Option Bank FDIC insured?

Yes. It is covered under FDIC Certificate #4746.

Why does First Option 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 Option Bank CD rates not competitive?

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

Is First Option Bank a commercial bank?

Yes

Where are First Option Bank locations?

See branch locations nearby.

Is First Option Bank open on Saturdays?

Is First Option Bank open on Sundays?

What time does First Option Bank open?

What time does First Option Bank close?

Are First Option Bank ATMs Open 24/7?

Do First Option Bank ATMs accept cash deposits?

Can First Option Bank customers use other ATMs?

Do First Option Bank branches have notaries?

Will First Option Bank notarize my document?

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

Will the First Option Bank branch print checks?

Do First Option Bank checks expire?

Does First Option Bank require US citizenship to open account?

Can First Option Bank close my account?

Does First Option Bank Report to credit bureaus?

Does First Option Bank Use Equifax?

What is First Option Bank's ACH Routing Number?

What is First Option Bank's SWIFT code?

Products

Does First Option Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does First Option Bank offer personal loans?

Compare personal loan rates here.

Does First Option Bank offer student loans?

Will First Option Bank cash a check?

Will First Option Bank redeem a savings bond?

Does First Option Bank cash savings bonds?

Will First Option Bank cash money orders?

Can First Option Bank issue a money order?

Does First Option Bank do currency exchange?

Background on The Bank

Who owns First Option Bank?

How long has First Option Bank been around?

Can First Option Bank transfer to other banks?

Does First Option Bank have quick pay?

Does First Option Bank accept rolled coins?

Will First Option Bank accept loose change?

Where is First Option Bank headquarters?

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