Grove Bank & Trust

2701 South Bayshore Drive
Miami, FL 33133

 

2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 8018
Date Established 1926
Assets $0.65 billion
Loans $0.28 billion
Deposits $0.53 billion
Capital $0.11 billion

Grove Bank & Trust is an FDIC insured institution located in Miami, FL. It was founded in 1926 and has approximately $0.65 billion in assets. Customers can open an account at one of its 5 branches.

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

Deposit Rates - September 16, 2019

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Money Market
0.15% $2,500 $99,999 Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
0.15% $2,500 - Learn MoreShow Less
6 Mo CD
0.30% $2,500 - Learn MoreShow Less
12 Mo CD
0.45% $2,500 - Learn MoreShow Less
18 Mo CD
0.65% $2,500 - Learn MoreShow Less
24 Mo CD
0.80% $2,500 - Learn MoreShow Less
30 Mo CD
0.65% $2,500 - Learn MoreShow Less
36 Mo CD
1.21% $2,500 - Learn MoreShow Less
60 Mo CD
1.10% $2,500 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.45% $100 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.02% $1,000 - Learn MoreShow Less

Loan Rates - September 16, 2019

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Grove Bank & Trust

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 2019

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
3.751% 3.750% 0.00 $25 $1,158 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2019

Lender APR (%)? Monthly Payment? Learn More
Figure Home Equity Line
Figure Home Equity Line
0.000 %
$0 Learn More
More Info

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

Branches

Grove Bank & Trust 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


Grove Bank & Trust Locations


Financial Details

Grove Bank & Trust Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Grove Bank & Trust. 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
Grove Bank & Trust U.S. Bank Average
1.67% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s 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, 2019, Grove Bank & Trust had $265,000 in non-current loans and $1,760,000 in owned real estate. To cover these potential losses it had $113,412,000 in equity and $7,725,000 in loans loss reserves. That gives it a Texas Ratio of 1.67%.

Return on Equity
Grove Bank & Trust U.S. Bank Average
1.07% 9.47%

Grove Bank & Trust has a Return on Equity of 1.07% versus the BestCashCow average of 9.47%. 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
Grove Bank & Trust U.S. Bank Average
17.41% 12.49%

Grove Bank & Trust has a Capitalization of 17.41% versus the BestCashCow average of 12.49. 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.

Grove Bank & Trust Balance Sheet Analysis

As of March 31, 2019, Grove Bank & Trust had assets of $651,535,000, loans of $281,909,000, and deposits of $532,776,000. 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, 2019
ASSETS
Cash & Balances due from depository institutions $0.05 billion
Interest-bearing balances $0.02 billion
Total securities $0.26 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.28 billion
Loan loss allowance $0.01 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.00 billion
All other assets $0.04 billion
     Total Assets $0.54 billion
LIABILITIES
Total deposits $0.53 billion
      Interest-bearing deposits $0.35 billion
      Deposits held in domestic offices $0.53 billion
      % insured (estimated) 60.60%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.00 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.54 billion
      Shareholders’ Equity $0.11 billion

Summary Income Statement

March 31, 2019
INCOME AND EXPENSES
Total Interest Income $0.00 billion
Total Interest Expense $0.00 billion
Net interest income $0.00 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.01 billion
Pre-tax Net Operating Income $0.00 billion

Bank Loan Profile?

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

Compared to other banks in Florida, Grove Bank & Trust has a significantly higher percent of Multifamily Mortgages, 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 20.93
Multifamily
Mortgages
8.16
Credit Card Loans 0.00
Consumer Auto Loans 0.01
Small Business Loans 6.62
Construction and Development Loans 0.97
Commercial Real Estate 60.61
Commercial and Industrial Loans 10.88
Farm Loans 0.00

Frequently Asked Questions About Grove Bank & Trust

Branches and Savings

Is Grove Bank & Trust FDIC insured?

Yes. It is covered under FDIC Certificate #8018.

Why does Grove Bank & Trust pay such low interest on savings accounts?

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

Why are Grove Bank & Trust CD rates not competitive?

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

Is Grove Bank & Trust a commercial bank?

Yes

Where are Grove Bank & Trust locations?

See branch locations nearby.

Is Grove Bank & Trust open on Saturdays?

Is Grove Bank & Trust open on Sundays?

What time does Grove Bank & Trust open?

What time does Grove Bank & Trust close?

Are Grove Bank & Trust ATMs Open 24/7?

Do Grove Bank & Trust ATMs accept cash deposits?

Can Grove Bank & Trust customers use other ATMs?

Do Grove Bank & Trust branches have notaries?

Will Grove Bank & Trust notarize my document?

What address for Grove Bank & Trust should I put for incoming ACH transfers?

Will the Grove Bank & Trust branch print checks?

Do Grove Bank & Trust checks expire?

Does Grove Bank & Trust require US citizenship to open account?

Can Grove Bank & Trust close my account?

Does Grove Bank & Trust Report to credit bureaus?

Does Grove Bank & Trust Use Equifax?

What is Grove Bank & Trust's ACH Routing Number?

What is Grove Bank & Trust's SWIFT code?

Products

Does Grove Bank & Trust offer mortgages?

Compare mortgage rates here.

Does Grove Bank & Trust offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Grove Bank & Trust offer personal loans?

Compare personal loan rates here.

Does Grove Bank & Trust offer student loans?

Will Grove Bank & Trust cash a check?

Will Grove Bank & Trust redeem a savings bond?

Does Grove Bank & Trust cash savings bonds?

Will Grove Bank & Trust cash money orders?

Can Grove Bank & Trust issue a money order?

Does Grove Bank & Trust do currency exchange?

Background on The Bank

Who owns Grove Bank & Trust?

How long has Grove Bank & Trust been around?

Can Grove Bank & Trust transfer to other banks?

Does Grove Bank & Trust have quick pay?

Does Grove Bank & Trust accept rolled coins?

Will Grove Bank & Trust accept loose change?

Where is Grove Bank & Trust headquarters?

Customer Reviews for Grove Bank & Trust

There are currently no comments for Grove Bank & Trust. Be the first to share your experience. Please provide comments that will help others.

Add Your Review

Rate it here →