MoreBank

Headquarters

470 West Cheltenham Avenue
Philadelphia, PA 19126
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.95% →
1-Year CD N.A. 1.01% →
2-Year CD N.A. 0.95% →
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

MoreBank is an FDIC insured institution located in Philadelphia, PA. It was founded in 2006 and has approximately $0.07 billion in assets.

FDIC Insured Yes
FDIC Certificate # 57871
Date Established 2006
Assets $ 69.75 million
Loans $ 49.21 million
Deposits $ 59.52 million
Capital $ 4.58 million
 

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

Deposit Rates - October 25, 2020

Your Current Location: Virginia, VA 20146


Loan Rates - October 25, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for MoreBank

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
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AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.575% 2.500% 1.00 $2,470 $988 Learn More
Rocket Mortgage
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More
1Rate, Inc
NMLS ID: 1948084
License#: MC-7051
2.567% 2.500% 0.88 $2,216 $988 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
See Table
2.240 %
$0 Learn More
More Info

Note to MoreBank
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Branches

MoreBank 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


MoreBank Locations


Financial Details

MoreBank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of MoreBank. 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
MoreBank U.S. Bank Average
17.75% 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, MoreBank had $940,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $4,576,000 in equity and $719,000 in loans loss reserves. That gives it a Texas Ratio of 17.75%.

Return on Equity
MoreBank U.S. Bank Average
-28.14% 7.80%

MoreBank has a Return on Equity of -28.14% 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
MoreBank U.S. Bank Average
6.56% 12.68%

MoreBank has a Capitalization of 6.56% 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.

MoreBank Balance Sheet Analysis

As of November 30, -0001, MoreBank had assets of $72,395,000, loans of $49,214,000, and deposits of $59,520,000. 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 $ 49.21 million
Loan loss allowance $ 0.72 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets N.A.
     Total Assets N.A.
LIABILITIES
Total deposits $ 59.52 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 $ 69.75 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 MoreBank’s loan portfolio are 1-4 Family Residential Loans, Multifamily Mortgages, and Credit Card Loans.

Compared to other banks, MoreBank’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 0.00
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 0.00
Commercial Real Estate 0.00
Commercial and Industrial Loans 0.00
Farm Loans 0.00

Frequently Asked Questions About Morebank

Branches and Savings

Is Morebank FDIC insured?

Yes. It is covered under FDIC Certificate #57871.

Why does Morebank pay such low interest on savings accounts?

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

Why are Morebank CD rates not competitive?

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

Is Morebank a commercial bank?

Yes

Where are Morebank locations?

See branch locations nearby.

Is Morebank open on Saturdays?

Is Morebank open on Sundays?

What time does Morebank open?

What time does Morebank close?

Are Morebank ATMs Open 24/7?

Do Morebank ATMs accept cash deposits?

Can Morebank customers use other ATMs?

Do Morebank branches have notaries?

Will Morebank notarize my document?

What address for Morebank should I put for incoming ACH transfers?

Will the Morebank branch print checks?

Do Morebank checks expire?

Does Morebank require US citizenship to open account?

Can Morebank close my account?

Does Morebank Report to credit bureaus?

Does Morebank Use Equifax?

What is Morebank's ACH Routing Number?

What is Morebank's SWIFT code?

Products

Does Morebank offer mortgages?

Compare mortgage rates here.

Does Morebank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Morebank offer personal loans?

Compare personal loan rates here.

Does Morebank offer student loans?

Will Morebank cash a check?

Will Morebank redeem a savings bond?

Does Morebank cash savings bonds?

Will Morebank cash money orders?

Can Morebank issue a money order?

Does Morebank do currency exchange?

Background on The Bank

Who owns Morebank?

How long has Morebank been around?

Can Morebank transfer to other banks?

Does Morebank have quick pay?

Does Morebank accept rolled coins?

Will Morebank accept loose change?

Where is Morebank headquarters?

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