Herring Bank

Headquarters

2201 Civic Circle
Amarillo, TX 79101
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.20% 1.40% →
1-Year CD 0.40% 1.15% →
2-Year CD 0.55% 1.26% →
5-Year CD 0.85% 2.25% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Herring Bank is an FDIC insured institution located in Amarillo, TX. It was founded in 1899 and has approximately $0.45 billion in assets. Customers can open an account at one of its 15 branches.

FDIC Insured Yes
FDIC Certificate # 5568
Date Established 1899
Assets $ 445.39 million
Loans $ 313.93 million
Deposits $ 400.90 million
Capital $ 39.21 million
 

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

Deposit Rates - July 5, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.20% $2,500 $4,999 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
0.50% $10,000 $14,999 Learn More
18 Mo CD
0.50% $100,000 $199,999 Learn More
24 Mo CD
0.55% $10,000 $14,999 Learn More
24 Mo CD
0.55% $100,000 $199,999 Learn More
36 Mo CD
0.85% $10,000 $14,999 Learn More
36 Mo CD
0.85% $100,000 $199,999 Learn More
60 Mo CD
0.85% $10,000 $14,999 Learn More
60 Mo CD
0.85% $100,000 $199,999 Learn More

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.40% $1,000 $9,999 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.10% $2,500 $3,499 Learn MoreShow Less

Loan Rates - July 5, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Herring 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
AimLoan.com
NMLS ID: 2890
License#: MC-3098
3.039% 3.000% 0.50 $1,250 $1,055 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
2.990 %
$0 Learn More
More Info

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

Branches

Herring 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


Herring Bank Locations


Financial Details

Herring Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Herring 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
Herring Bank U.S. Bank Average
4.98% 6.51%

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 December 31, 2019, Herring Bank had $863,000 in non-current loans and $1,249,000 in owned real estate. To cover these potential losses it had $39,208,000 in equity and $3,193,000 in loans loss reserves. That gives it a Texas Ratio of 4.98%.

Return on Equity
Herring Bank U.S. Bank Average
6.19% 9.41%

Herring Bank has a Return on Equity of 6.19% versus the BestCashCow average of 9.41%. 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
Herring Bank U.S. Bank Average
8.8% 12.82%

Herring Bank has a Capitalization of 8.8% versus the BestCashCow average of 12.82. 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.

Herring Bank Balance Sheet Analysis

As of December 31, 2019, Herring Bank had assets of $445,391,000, loans of $313,934,000, and deposits of $400,903,000. 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

December 31, 2019
ASSETS
Cash & Balances due from depository institutions $ 65.68 million
Interest-bearing balances $ 33.99 million
Total securities $ 47.12 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 313.93 million
Loan loss allowance $ 3.19 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.25 million
Goodwill and other intangibles $ 0.07 million
All other assets $ 9.21 million
     Total Assets $ 406.18 million
LIABILITIES
Total deposits $ 400.90 million
      Interest-bearing deposits $ 282.82 million
      Deposits held in domestic offices $ 400.90 million
      % insured (estimated) 77.69%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 5.28 million
      Total Liabilities $ 406.18 million
      Shareholders’ Equity $ 39.21 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 20.24 million
Total Interest Expense $ 3.41 million
Net interest income $ 16.83 million
Provision for loan and lease losses $ 0.26 million
Total non interest income $ 7.47 million
Total non interest expense $ 21.57 million
Pre-tax Net Operating Income $ 2.48 million

Bank Loan Profile?

The top three loan types in Herring Bank’s loan portfolio are Commercial Real Estate, Commercial and Industrial Loans, and Construction and Development Loans.

Compared to other banks, Herring Bank’s loan portfolio does not show any specific loan specialty.

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 11.77
Multifamily
Mortgages
2.45
Credit Card Loans 0.18
Consumer Auto Loans 1.13
Small Business Loans 7.48
Construction and Development Loans 13.21
Commercial Real Estate 42.25
Commercial and Industrial Loans 14.17
Farm Loans 3.90

Frequently Asked Questions About Herring Bank

Branches and Savings

Is Herring Bank FDIC insured?

Yes. It is covered under FDIC Certificate #5568.

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

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

Why are Herring Bank CD rates not competitive?

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

Is Herring Bank a commercial bank?

Yes

Where are Herring Bank locations?

See branch locations nearby.

Is Herring Bank open on Saturdays?

Is Herring Bank open on Sundays?

What time does Herring Bank open?

What time does Herring Bank close?

Are Herring Bank ATMs Open 24/7?

Do Herring Bank ATMs accept cash deposits?

Can Herring Bank customers use other ATMs?

Do Herring Bank branches have notaries?

Will Herring Bank notarize my document?

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

Will the Herring Bank branch print checks?

Do Herring Bank checks expire?

Does Herring Bank require US citizenship to open account?

Can Herring Bank close my account?

Does Herring Bank Report to credit bureaus?

Does Herring Bank Use Equifax?

What is Herring Bank's ACH Routing Number?

What is Herring Bank's SWIFT code?

Products

Does Herring Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Herring Bank offer personal loans?

Compare personal loan rates here.

Does Herring Bank offer student loans?

Will Herring Bank cash a check?

Will Herring Bank redeem a savings bond?

Does Herring Bank cash savings bonds?

Will Herring Bank cash money orders?

Can Herring Bank issue a money order?

Does Herring Bank do currency exchange?

Background on The Bank

Who owns Herring Bank?

How long has Herring Bank been around?

Can Herring Bank transfer to other banks?

Does Herring Bank have quick pay?

Does Herring Bank accept rolled coins?

Will Herring Bank accept loose change?

Where is Herring Bank headquarters?

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