Fortune Bank

Headquarters

1201 Third Avenue, Suite 700
Seattle, WA 98101
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.05% →
1-Year CD N.A. 0.95% →
2-Year CD N.A. 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

Fortune Bank is an FDIC insured institution located in Seattle, WA. It was founded in 2006 and has approximately $0.14 billion in assets.

FDIC Insured Yes
FDIC Certificate # 58437
Date Established 2006
Assets $ 143.65 million
Loans $ 105.07 million
Deposits $ 123.92 million
Capital $ 19.32 million
 

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

Deposit Rates - September 26, 2020

Your Current Location: Connecticut, CT 06828


Loan Rates - September 26, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Fortune 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 $2,102 $1,021 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
People's United Bank, N.A.
People's United Bank, N.A.
See Table
4.000 %
$0 Learn More
More Info
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.990 %
$0 Learn More
More Info

Note to Fortune Bank
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Branches

Fortune 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


Fortune Bank Locations


Financial Details

Fortune Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Fortune 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
Fortune Bank U.S. Bank Average
28.05% 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, Fortune Bank had $2,778,000 in non-current loans and $3,029,000 in owned real estate. To cover these potential losses it had $19,316,000 in equity and $1,388,000 in loans loss reserves. That gives it a Texas Ratio of 28.05%.

Return on Equity
Fortune Bank U.S. Bank Average
19.39% 7.80%

Fortune Bank has a Return on Equity of 19.39% 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
Fortune Bank U.S. Bank Average
13.45% 12.68%

Fortune Bank has a Capitalization of 13.45% 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.

Fortune Bank Balance Sheet Analysis

As of September 30, 2013, Fortune Bank had assets of $143,649,000, loans of $105,065,000, and deposits of $123,921,000. 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 N.A.
Interest-bearing balances N.A.
Total securities N.A.
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 105.07 million
Loan loss allowance $ 1.39 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 3.03 million
Goodwill and other intangibles N.A.
All other assets N.A.
     Total Assets N.A.
LIABILITIES
Total deposits $ 123.92 million
      Interest-bearing deposits N.A.
      Deposits held in domestic offices N.A.
      % insured (estimated) 0.00%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities N.A.
      Total Liabilities N.A.
      Shareholders’ Equity $ 143.65 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income N.A.
Total Interest Expense N.A.
Net interest income N.A.
Provision for loan and lease losses N.A.
Total non interest income N.A.
Total non interest expense N.A.
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in Fortune Bank’s loan portfolio are Commercial Real Estate, Commercial and Industrial Loans, and Small Business Loans.

Compared to other banks in Washington, Fortune Bank has a significantly higher percent of Small Business Loans, Commercial and Industrial 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 12.59
Multifamily
Mortgages
4.14
Credit Card Loans 0.15
Consumer Auto Loans 0.00
Small Business Loans 18.32
Construction and Development Loans 0.98
Commercial Real Estate 53.06
Commercial and Industrial Loans 29.04
Farm Loans 0.00

Frequently Asked Questions About Fortune Bank

Branches and Savings

Is Fortune Bank FDIC insured?

Yes. It is covered under FDIC Certificate #58437.

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

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

Why are Fortune Bank CD rates not competitive?

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

Is Fortune Bank a commercial bank?

Yes

Where are Fortune Bank locations?

See branch locations nearby.

Is Fortune Bank open on Saturdays?

Is Fortune Bank open on Sundays?

What time does Fortune Bank open?

What time does Fortune Bank close?

Are Fortune Bank ATMs Open 24/7?

Do Fortune Bank ATMs accept cash deposits?

Can Fortune Bank customers use other ATMs?

Do Fortune Bank branches have notaries?

Will Fortune Bank notarize my document?

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

Will the Fortune Bank branch print checks?

Do Fortune Bank checks expire?

Does Fortune Bank require US citizenship to open account?

Can Fortune Bank close my account?

Does Fortune Bank Report to credit bureaus?

Does Fortune Bank Use Equifax?

What is Fortune Bank's ACH Routing Number?

What is Fortune Bank's SWIFT code?

Products

Does Fortune Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Fortune Bank offer personal loans?

Compare personal loan rates here.

Does Fortune Bank offer student loans?

Will Fortune Bank cash a check?

Will Fortune Bank redeem a savings bond?

Does Fortune Bank cash savings bonds?

Will Fortune Bank cash money orders?

Can Fortune Bank issue a money order?

Does Fortune Bank do currency exchange?

Background on The Bank

Who owns Fortune Bank?

How long has Fortune Bank been around?

Can Fortune Bank transfer to other banks?

Does Fortune Bank have quick pay?

Does Fortune Bank accept rolled coins?

Will Fortune Bank accept loose change?

Where is Fortune Bank headquarters?

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