Okey-Vernon First National Bank

Headquarters

701 Davis Street
Corning, IA 50841
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.91% →
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

Okey-Vernon First National Bank is an FDIC insured institution located in Corning, IA. It was founded in 1900 and has approximately $0.08 billion in assets.

FDIC Insured Yes
FDIC Certificate # 4442
Date Established 1900
Assets $ 79.50 million
Loans $ 33.80 million
Deposits $ 68.30 million
Capital $ 10.94 million
 

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

Deposit Rates - October 31, 2020

Your Current Location: Virginia, VA 20146


Loan Rates - October 31, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Okey-Vernon First National 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
Rocket Mortgage
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.558% 2.500% 0.75 $1,908 $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

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Branches

Okey-Vernon First National 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


Okey-Vernon First National Bank Locations


Financial Details

Okey-Vernon First National Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Okey-Vernon First National 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
Okey-Vernon First National Bank U.S. Bank Average
0% 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, Okey-Vernon First National Bank had $0 in non-current loans and $0 in owned real estate. To cover these potential losses it had $10,939,000 in equity and $358,000 in loans loss reserves. That gives it a Texas Ratio of 0%.

Return on Equity
Okey-Vernon First National Bank U.S. Bank Average
5.21% 7.80%

Okey-Vernon First National Bank has a Return on Equity of 5.21% 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
Okey-Vernon First National Bank U.S. Bank Average
13.76% 12.68%

Okey-Vernon First National Bank has a Capitalization of 13.76% 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.

Okey-Vernon First National Bank Balance Sheet Analysis

As of June 30, 2016, Okey-Vernon First National Bank had assets of $79,500,000, loans of $33,800,000, and deposits of $68,299,000. 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 $ 33.80 million
Loan loss allowance $ 0.36 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 $ 68.30 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 $ 79.50 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 Okey-Vernon First National Bank’s loan portfolio are Farm Loans, 1-4 Family Residential Loans, and Commercial and Industrial Loans.

Compared to other banks in Iowa, Okey-Vernon First National Bank has a significantly higher percent of Farm 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 15.48
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 2.82
Small Business Loans 2.06
Construction and Development Loans 0.08
Commercial Real Estate 2.06
Commercial and Industrial Loans 8.52
Farm Loans 38.04

Frequently Asked Questions About Okey-vernon First National Bank

Branches and Savings

Is Okey-vernon First National Bank FDIC insured?

Yes. It is covered under FDIC Certificate #4442.

Why does Okey-vernon First National Bank pay such low interest on savings accounts?

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

Why are Okey-vernon First National Bank CD rates not competitive?

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

Is Okey-vernon First National Bank a commercial bank?

Yes

Where are Okey-vernon First National Bank locations?

See branch locations nearby.

Is Okey-vernon First National Bank open on Saturdays?

Is Okey-vernon First National Bank open on Sundays?

What time does Okey-vernon First National Bank open?

What time does Okey-vernon First National Bank close?

Are Okey-vernon First National Bank ATMs Open 24/7?

Do Okey-vernon First National Bank ATMs accept cash deposits?

Can Okey-vernon First National Bank customers use other ATMs?

Do Okey-vernon First National Bank branches have notaries?

Will Okey-vernon First National Bank notarize my document?

What address for Okey-vernon First National Bank should I put for incoming ACH transfers?

Will the Okey-vernon First National Bank branch print checks?

Do Okey-vernon First National Bank checks expire?

Does Okey-vernon First National Bank require US citizenship to open account?

Can Okey-vernon First National Bank close my account?

Does Okey-vernon First National Bank Report to credit bureaus?

Does Okey-vernon First National Bank Use Equifax?

What is Okey-vernon First National Bank's ACH Routing Number?

What is Okey-vernon First National Bank's SWIFT code?

Products

Does Okey-vernon First National Bank offer mortgages?

Compare mortgage rates here.

Does Okey-vernon First National Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Okey-vernon First National Bank offer personal loans?

Compare personal loan rates here.

Does Okey-vernon First National Bank offer student loans?

Will Okey-vernon First National Bank cash a check?

Will Okey-vernon First National Bank redeem a savings bond?

Does Okey-vernon First National Bank cash savings bonds?

Will Okey-vernon First National Bank cash money orders?

Can Okey-vernon First National Bank issue a money order?

Does Okey-vernon First National Bank do currency exchange?

Background on The Bank

Who owns Okey-vernon First National Bank?

How long has Okey-vernon First National Bank been around?

Can Okey-vernon First National Bank transfer to other banks?

Does Okey-vernon First National Bank have quick pay?

Does Okey-vernon First National Bank accept rolled coins?

Will Okey-vernon First National Bank accept loose change?

Where is Okey-vernon First National Bank headquarters?

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