Heritage Bank


150 Granby Street
Norfolk, VA 23510
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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

Heritage Bank is an FDIC insured institution located in Norfolk, VA. It was founded in 1977 and has approximately $0.31 billion in assets. Customers can open an account at one of its 2 branches.

FDIC Insured Yes
FDIC Certificate # 22411
Date Established 1977
Assets $ 324.75 million
Loans $ 231.40 million
Deposits $ 275.97 million
Capital $ 35.21 million

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

Deposit Rates - September 23, 2020

Your Current Location: Connecticut, CT 06828

Loan Rates - September 23, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Heritage 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
Learn More
NMLS ID: 2890
License#: 13256
2.815% 2.750% 0.88 $2,128 $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 Heritage Bank
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Financial Details

Heritage Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Heritage 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
Heritage Bank U.S. Bank Average
2% 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, Heritage Bank had $0 in non-current loans and $743,000 in owned real estate. To cover these potential losses it had $35,205,000 in equity and $1,946,000 in loans loss reserves. That gives it a Texas Ratio of 2%.

Return on Equity
Heritage Bank U.S. Bank Average
6.17% 7.80%

Heritage Bank has a Return on Equity of 6.17% 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.

Heritage Bank U.S. Bank Average
10.84% 12.68%

Heritage Bank has a Capitalization of 10.84% 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.

Heritage Bank Balance Sheet Analysis

As of March 31, 2015, Heritage Bank had assets of $313,027,000, loans of $231,403,000, and deposits of $275,966,000. 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
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 $ 231.40 million
Loan loss allowance $ 1.95 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.74 million
Goodwill and other intangibles N.A.
All other assets N.A.
     Total Assets N.A.
Total deposits $ 275.97 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 $ 324.75 million

Summary Income Statement

March 31, 2020
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 Heritage Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Commercial and Industrial Loans.

Compared to other banks in Virginia, Heritage 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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 16.67
Credit Card Loans 0.00
Consumer Auto Loans 0.02
Small Business Loans 9.29
Construction and Development Loans 5.14
Commercial Real Estate 53.02
Commercial and Industrial Loans 13.58
Farm Loans 0.00

Frequently Asked Questions About Heritage Bank

Branches and Savings

Is Heritage Bank FDIC insured?

Yes. It is covered under FDIC Certificate #22411.

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

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

Why are Heritage Bank CD rates not competitive?

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

Is Heritage Bank a commercial bank?


Where are Heritage Bank locations?

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Is Heritage Bank open on Saturdays?

Is Heritage Bank open on Sundays?

What time does Heritage Bank open?

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Are Heritage Bank ATMs Open 24/7?

Do Heritage Bank ATMs accept cash deposits?

Can Heritage Bank customers use other ATMs?

Do Heritage Bank branches have notaries?

Will Heritage Bank notarize my document?

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

Will the Heritage Bank branch print checks?

Do Heritage Bank checks expire?

Does Heritage Bank require US citizenship to open account?

Can Heritage Bank close my account?

Does Heritage Bank Report to credit bureaus?

Does Heritage Bank Use Equifax?

What is Heritage Bank's ACH Routing Number?

What is Heritage Bank's SWIFT code?


Does Heritage Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Heritage Bank offer personal loans?

Compare personal loan rates here.

Does Heritage Bank offer student loans?

Will Heritage Bank cash a check?

Will Heritage Bank redeem a savings bond?

Does Heritage Bank cash savings bonds?

Will Heritage Bank cash money orders?

Can Heritage Bank issue a money order?

Does Heritage Bank do currency exchange?

Background on The Bank

Who owns Heritage Bank?

How long has Heritage Bank been around?

Can Heritage Bank transfer to other banks?

Does Heritage Bank have quick pay?

Does Heritage Bank accept rolled coins?

Will Heritage Bank accept loose change?

Where is Heritage Bank headquarters?

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