First Palmetto Bank

Headquarters

407 Dekalb Street
Camden, SC 29020
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.02% 1.05% →
1-Year CD 0.40% 0.95% →
2-Year CD 0.25% 1.05% →
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 Palmetto Bank is an FDIC insured institution located in Camden, SC. It was founded in 1904 and has approximately $0.72 billion in assets. Customers can open an account at one of its 23 branches.

FDIC Insured Yes
FDIC Certificate # 28396
Date Established 1904
Assets $ 718.27 million
Loans $ 482.43 million
Deposits $ 635.08 million
Capital $ 80.93 million
 

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

Deposit Rates - September 20, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.02% $2,500 $4,999 Learn More
Money Market
0.05% $2,500 $2,999 Learn More
Money Market
0.10% $10,000 $14,999 Learn More
Money Market
0.15% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.25% $10,000 $14,999 Learn More
3 Mo CD
0.25% $100,000 $199,999 Learn More
6 Mo CD
0.30% $10,000 $14,999 Learn More
6 Mo CD
0.30% $100,000 $199,999 Learn More
12 Mo CD
0.40% $10,000 $14,999 Learn More
12 Mo CD
0.40% $100,000 $199,999 Learn More
18 Mo CD
0.25% $10,000 $14,999 Learn More
18 Mo CD
0.25% $100,000 $199,999 Learn More
24 Mo CD
0.25% $10,000 $14,999 Learn More
24 Mo CD
0.25% $100,000 $199,999 Learn More
30 Mo CD
0.20% $10,000 $14,999 Learn More
30 Mo CD
0.20% $100,000 $199,999 Learn More
36 Mo CD
0.20% $10,000 $14,999 Learn More
36 Mo CD
0.20% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.01% $2,500 $3,499 Learn MoreShow Less

Loan Rates - September 20, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for First Palmetto 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 Palmetto Bank
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Branches

First Palmetto 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 Palmetto Bank Locations


Financial Details

First Palmetto Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First Palmetto 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 Palmetto Bank U.S. Bank Average
3.22% 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 Palmetto Bank had $2,366,000 in non-current loans and $450,000 in owned real estate. To cover these potential losses it had $80,926,000 in equity and $6,554,000 in loans loss reserves. That gives it a Texas Ratio of 3.22%.

Return on Equity
First Palmetto Bank U.S. Bank Average
10.65% 7.80%

First Palmetto Bank has a Return on Equity of 10.65% 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 Palmetto Bank U.S. Bank Average
11.27% 12.68%

First Palmetto Bank has a Capitalization of 11.27% 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 Palmetto Bank Balance Sheet Analysis

As of March 31, 2020, First Palmetto Bank had assets of $718,274,000, loans of $482,425,000, and deposits of $635,081,000. 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 $ 87.00 million
Interest-bearing balances $ 77.73 million
Total securities $ 122.51 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 482.43 million
Loan loss allowance $ 6.55 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.45 million
Goodwill and other intangibles $ 1.69 million
All other assets $ 5.14 million
     Total Assets $ 637.35 million
LIABILITIES
Total deposits $ 635.08 million
      Interest-bearing deposits $ 519.30 million
      Deposits held in domestic offices $ 635.08 million
      % insured (estimated) 85.17%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 2.27 million
      Total Liabilities $ 637.35 million
      Shareholders’ Equity $ 80.93 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 7.10 million
Total Interest Expense $ 1.39 million
Net interest income $ 5.72 million
Provision for loan and lease losses N.A.
Total non interest income $ 1.12 million
Total non interest expense $ 4.04 million
Pre-tax Net Operating Income $ 2.80 million

Bank Loan Profile?

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

Compared to other banks in South Carolina, First Palmetto Bank has a significantly higher percent of Commercial Real Estate 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 26.69
Multifamily
Mortgages
1.29
Credit Card Loans 0.00
Consumer Auto Loans 0.25
Small Business Loans 0.00
Construction and Development Loans 10.11
Commercial Real Estate 57.84
Commercial and Industrial Loans 4.01
Farm Loans 0.00

Frequently Asked Questions About First Palmetto Bank

Branches and Savings

Is First Palmetto Bank FDIC insured?

Yes. It is covered under FDIC Certificate #28396.

Why does First Palmetto 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 Palmetto Bank CD rates not competitive?

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

Is First Palmetto Bank a commercial bank?

Yes

Where are First Palmetto Bank locations?

See branch locations nearby.

Is First Palmetto Bank open on Saturdays?

Is First Palmetto Bank open on Sundays?

What time does First Palmetto Bank open?

What time does First Palmetto Bank close?

Are First Palmetto Bank ATMs Open 24/7?

Do First Palmetto Bank ATMs accept cash deposits?

Can First Palmetto Bank customers use other ATMs?

Do First Palmetto Bank branches have notaries?

Will First Palmetto Bank notarize my document?

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

Will the First Palmetto Bank branch print checks?

Do First Palmetto Bank checks expire?

Does First Palmetto Bank require US citizenship to open account?

Can First Palmetto Bank close my account?

Does First Palmetto Bank Report to credit bureaus?

Does First Palmetto Bank Use Equifax?

What is First Palmetto Bank's ACH Routing Number?

What is First Palmetto Bank's SWIFT code?

Products

Does First Palmetto Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does First Palmetto Bank offer personal loans?

Compare personal loan rates here.

Does First Palmetto Bank offer student loans?

Will First Palmetto Bank cash a check?

Will First Palmetto Bank redeem a savings bond?

Does First Palmetto Bank cash savings bonds?

Will First Palmetto Bank cash money orders?

Can First Palmetto Bank issue a money order?

Does First Palmetto Bank do currency exchange?

Background on The Bank

Who owns First Palmetto Bank?

How long has First Palmetto Bank been around?

Can First Palmetto Bank transfer to other banks?

Does First Palmetto Bank have quick pay?

Does First Palmetto Bank accept rolled coins?

Will First Palmetto Bank accept loose change?

Where is First Palmetto Bank headquarters?

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