FirstOak Bank

Headquarters

113 North Penn Avenue
Independence, KS 67301
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.03% 0.91% →
1-Year CD 0.30% 1.01% →
2-Year CD 0.40% 0.95% →
5-Year CD 0.75% 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

FirstOak Bank is an FDIC insured institution located in Independence, KS. It was founded in 1881 and has approximately $0.19 billion in assets. Customers can open an account at one of its 4 branches.

FDIC Insured Yes
FDIC Certificate # 4660
Date Established 1881
Assets $ 186.75 million
Loans $ 132.18 million
Deposits $ 164.99 million
Capital $ 20.22 million
 

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

Deposit Rates - October 30, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.03% $2,500 $4,999 Learn More
Money Market
0.03% $2,500 $2,999 Learn More
Money Market
0.03% $10,000 $14,999 Learn More
Money Market
0.05% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.15% $10,000 $14,999 Learn More
3 Mo CD
0.15% $100,000 $199,999 Learn More
6 Mo CD
0.20% $10,000 $14,999 Learn More
6 Mo CD
0.20% $100,000 $199,999 Learn More
12 Mo CD
0.30% $10,000 $14,999 Learn More
12 Mo CD
0.30% $100,000 $199,999 Learn More
18 Mo CD
0.35% $10,000 $14,999 Learn More
18 Mo CD
0.35% $100,000 $199,999 Learn More
24 Mo CD
0.40% $10,000 $14,999 Learn More
24 Mo CD
0.40% $100,000 $199,999 Learn More
30 Mo CD
0.45% $10,000 $14,999 Learn More
30 Mo CD
0.45% $100,000 $199,999 Learn More
36 Mo CD
0.50% $10,000 $14,999 Learn More
36 Mo CD
0.50% $100,000 $199,999 Learn More
48 Mo CD
0.60% $10,000 $14,999 Learn More
48 Mo CD
0.60% $100,000 $199,999 Learn More
60 Mo CD
0.75% $10,000 $14,999 Learn More
60 Mo CD
0.75% $100,000 $199,999 Learn More


Loan Rates - October 30, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for FirstOak Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Virginia 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
Rocket Mortgage
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.558% 2.500% 0.75 $1,908 $988 Learn More

Featured - Virginia 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
2.240 %
$0 Learn More
More Info

Note to FirstOak Bank
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

FirstOak 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:
Ashburn,Virginia


FirstOak Bank Locations


Financial Details

FirstOak Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of FirstOak 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
FirstOak Bank U.S. Bank Average
4.16% 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, FirstOak Bank had $0 in non-current loans and $910,000 in owned real estate. To cover these potential losses it had $20,224,000 in equity and $1,625,000 in loans loss reserves. That gives it a Texas Ratio of 4.16%.

Return on Equity
FirstOak Bank U.S. Bank Average
17.61% 7.80%

FirstOak Bank has a Return on Equity of 17.61% 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
FirstOak Bank U.S. Bank Average
10.83% 12.68%

FirstOak Bank has a Capitalization of 10.83% 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.

FirstOak Bank Balance Sheet Analysis

As of March 31, 2020, FirstOak Bank had assets of $186,747,000, loans of $132,178,000, and deposits of $164,987,000. 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 $ 21.33 million
Interest-bearing balances $ 20.33 million
Total securities $ 13.88 million
Federal funds sold and reverse repurchase $ 6.31 million
Net loans and leases $ 132.18 million
Loan loss allowance $ 1.63 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.91 million
Goodwill and other intangibles $ 1.87 million
All other assets $ 6.57 million
     Total Assets $ 166.52 million
LIABILITIES
Total deposits $ 164.99 million
      Interest-bearing deposits $ 122.62 million
      Deposits held in domestic offices $ 164.99 million
      % insured (estimated) 70.91%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 1.54 million
      Total Liabilities $ 166.52 million
      Shareholders’ Equity $ 20.22 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 2.41 million
Total Interest Expense $ 0.20 million
Net interest income $ 2.20 million
Provision for loan and lease losses $ 0.06 million
Total non interest income $ 0.23 million
Total non interest expense $ 1.45 million
Pre-tax Net Operating Income $ 0.92 million

Bank Loan Profile?

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

Compared to other banks in Kansas, FirstOak 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 22.20
Multifamily
Mortgages
0.52
Credit Card Loans 0.00
Consumer Auto Loans 0.73
Small Business Loans 0.00
Construction and Development Loans 11.05
Commercial Real Estate 25.45
Commercial and Industrial Loans 14.38
Farm Loans 7.04

Frequently Asked Questions About Firstoak Bank

Branches and Savings

Is Firstoak Bank FDIC insured?

Yes. It is covered under FDIC Certificate #4660.

Why does Firstoak Bank pay such low interest on savings accounts?

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

Why are Firstoak Bank CD rates not competitive?

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

Is Firstoak Bank a commercial bank?

Yes

Where are Firstoak Bank locations?

See branch locations nearby.

Is Firstoak Bank open on Saturdays?

Is Firstoak Bank open on Sundays?

What time does Firstoak Bank open?

What time does Firstoak Bank close?

Are Firstoak Bank ATMs Open 24/7?

Do Firstoak Bank ATMs accept cash deposits?

Can Firstoak Bank customers use other ATMs?

Do Firstoak Bank branches have notaries?

Will Firstoak Bank notarize my document?

What address for Firstoak Bank should I put for incoming ACH transfers?

Will the Firstoak Bank branch print checks?

Do Firstoak Bank checks expire?

Does Firstoak Bank require US citizenship to open account?

Can Firstoak Bank close my account?

Does Firstoak Bank Report to credit bureaus?

Does Firstoak Bank Use Equifax?

What is Firstoak Bank's ACH Routing Number?

What is Firstoak Bank's SWIFT code?

Products

Does Firstoak Bank offer mortgages?

Compare mortgage rates here.

Does Firstoak Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Firstoak Bank offer personal loans?

Compare personal loan rates here.

Does Firstoak Bank offer student loans?

Will Firstoak Bank cash a check?

Will Firstoak Bank redeem a savings bond?

Does Firstoak Bank cash savings bonds?

Will Firstoak Bank cash money orders?

Can Firstoak Bank issue a money order?

Does Firstoak Bank do currency exchange?

Background on The Bank

Who owns Firstoak Bank?

How long has Firstoak Bank been around?

Can Firstoak Bank transfer to other banks?

Does Firstoak Bank have quick pay?

Does Firstoak Bank accept rolled coins?

Will Firstoak Bank accept loose change?

Where is Firstoak Bank headquarters?

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