Kennebec Savings Bank

Headquarters

150 State Street
Augusta, ME 04330
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 0.91% →
1-Year CD 0.35% 0.85% →
2-Year CD 0.45% 0.95% →
5-Year CD 1.00% 1.30% →
30-Year Mortgage 4.50% 2.61% →
15-Year Mortgage 4.00% 2.31% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Kennebec Savings Bank is an FDIC insured institution located in Augusta, ME. It was founded in 1870 and has approximately $1.15 billion in assets. Customers can open an account at one of its 5 branches.

FDIC Insured Yes
FDIC Certificate # 17897
Date Established 1870
Assets $ 1,154.57 million
Loans $ 981.20 million
Deposits $ 816.74 million
Capital $ 147.19 million
 

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

Deposit Rates - November 25, 2020

Your Current Location: Washington, WA 98109

Savings and Money Market Rates APY MIN MAX
Savings
0.05% $2,500 $4,999 Learn More
Money Market
0.05% $2,500 $2,999 Learn More
Money Market
0.05% $10,000 $14,999 Learn More
Money Market
0.25% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.25% $10,000 $14,999 Learn More
6 Mo CD
0.25% $100,000 $199,999 Learn More
12 Mo CD
0.35% $10,000 $14,999 Learn More
12 Mo CD
0.35% $100,000 $199,999 Learn More
24 Mo CD
0.45% $10,000 $14,999 Learn More
24 Mo CD
0.45% $100,000 $199,999 Learn More
36 Mo CD
0.65% $10,000 $14,999 Learn More
36 Mo CD
0.65% $100,000 $199,999 Learn More
48 Mo CD
0.80% $10,000 $14,999 Learn More
48 Mo CD
0.80% $100,000 $199,999 Learn More
60 Mo CD
1.00% $10,000 $14,999 Learn More
60 Mo CD
1.00% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.05% $2,500 $3,499 Learn MoreShow Less
 

Loan Rates - November 25, 2020

Your Current Location: Washington, WA 98109

Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

Kennebec Savings 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:
Seattle,Washington


Kennebec Savings Bank Locations


Financial Details

Kennebec Savings Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Kennebec Savings 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
Kennebec Savings Bank U.S. Bank Average
3.39% 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, Kennebec Savings Bank had $5,125,000 in non-current loans and $73,000 in owned real estate. To cover these potential losses it had $147,194,000 in equity and $6,228,000 in loans loss reserves. That gives it a Texas Ratio of 3.39%.

Return on Equity
Kennebec Savings Bank U.S. Bank Average
-19.77% 7.80%

Kennebec Savings Bank has a Return on Equity of -19.77% 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
Kennebec Savings Bank U.S. Bank Average
12.75% 12.68%

Kennebec Savings Bank has a Capitalization of 12.75% 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.

Kennebec Savings Bank Balance Sheet Analysis

As of March 31, 2020, Kennebec Savings Bank had assets of $1,154,570,000, loans of $981,204,000, and deposits of $816,742,000. 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 $ 8.49 million
Interest-bearing balances $ 3.98 million
Total securities $ 127.07 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 981.20 million
Loan loss allowance $ 6.23 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.07 million
Goodwill and other intangibles N.A.
All other assets $ 19.63 million
     Total Assets $ 1,007.38 million
LIABILITIES
Total deposits $ 816.74 million
      Interest-bearing deposits $ 748.50 million
      Deposits held in domestic offices $ 816.74 million
      % insured (estimated) 80.38%
Federal funds purchased and repurchase agreements $ 2.44 million
Trading liabilities N.A.
Other borrowed funds $ 178.17 million
Subordinated debt N.A.
All other liabilities $ 10.03 million
      Total Liabilities $ 1,007.38 million
      Shareholders’ Equity $ 147.19 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 12.01 million
Total Interest Expense $ 2.84 million
Net interest income $ 9.17 million
Provision for loan and lease losses $ 0.43 million
Total non interest income $ 1.09 million
Total non interest expense $ 6.32 million
Pre-tax Net Operating Income $ 3.51 million

Bank Loan Profile?

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

Compared to other banks in Maine, Kennebec Savings Bank has a significantly higher percent of Credit Card 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 71.08
Multifamily
Mortgages
1.69
Credit Card Loans 0.10
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 2.99
Commercial Real Estate 19.53
Commercial and Industrial Loans 4.50
Farm Loans 0.00

Frequently Asked Questions About Kennebec Savings Bank

Branches and Savings

Is Kennebec Savings Bank FDIC insured?

Yes. It is covered under FDIC Certificate #17897.

Why does Kennebec Savings Bank pay such low interest on savings accounts?

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

Why are Kennebec Savings Bank CD rates not competitive?

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

Is Kennebec Savings Bank a commercial bank?

Yes

Where are Kennebec Savings Bank locations?

See branch locations nearby.

Is Kennebec Savings Bank open on Saturdays?

Is Kennebec Savings Bank open on Sundays?

What time does Kennebec Savings Bank open?

What time does Kennebec Savings Bank close?

Are Kennebec Savings Bank ATMs Open 24/7?

Do Kennebec Savings Bank ATMs accept cash deposits?

Can Kennebec Savings Bank customers use other ATMs?

Do Kennebec Savings Bank branches have notaries?

Will Kennebec Savings Bank notarize my document?

What address for Kennebec Savings Bank should I put for incoming ACH transfers?

Will the Kennebec Savings Bank branch print checks?

Do Kennebec Savings Bank checks expire?

Does Kennebec Savings Bank require US citizenship to open account?

Can Kennebec Savings Bank close my account?

Does Kennebec Savings Bank Report to credit bureaus?

Does Kennebec Savings Bank Use Equifax?

What is Kennebec Savings Bank's ACH Routing Number?

What is Kennebec Savings Bank's SWIFT code?

Products

Does Kennebec Savings Bank offer mortgages?

Compare mortgage rates here.

Does Kennebec Savings Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Kennebec Savings Bank offer personal loans?

Compare personal loan rates here.

Does Kennebec Savings Bank offer student loans?

Will Kennebec Savings Bank cash a check?

Will Kennebec Savings Bank redeem a savings bond?

Does Kennebec Savings Bank cash savings bonds?

Will Kennebec Savings Bank cash money orders?

Can Kennebec Savings Bank issue a money order?

Does Kennebec Savings Bank do currency exchange?

Background on The Bank

Who owns Kennebec Savings Bank?

How long has Kennebec Savings Bank been around?

Can Kennebec Savings Bank transfer to other banks?

Does Kennebec Savings Bank have quick pay?

Does Kennebec Savings Bank accept rolled coins?

Will Kennebec Savings Bank accept loose change?

Where is Kennebec Savings Bank headquarters?

Customer Reviews for Kennebec Savings Bank

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

Add Your Review

Rate it here →