Palmetto Heritage Bank & Trust

Headquarters

10919 Ocean Boulevard
Pawleys Island, SC 29585
See all branch locations →

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

Palmetto Heritage Bank & Trust is an FDIC insured institution located in Pawleys Island, SC. It was founded in 2005 and has approximately $0.16 billion in assets. Customers can open an account at one of its 3 branches.

FDIC Insured Yes
FDIC Certificate # 57880
Date Established 2005
Assets $ 167.78 million
Loans $ 135.20 million
Deposits $ 123.49 million
Capital $ 16.98 million
 

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

Deposit Rates - September 24, 2020

Your Current Location: Connecticut, CT 06828


Loan Rates - September 24, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Palmetto Heritage Bank & Trust

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

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License#: 13256
2.815% 2.750% 0.88 $2,128 $1,021 Learn More
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4.114% 3.990% 1.00 $3,750 $1,193 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

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Third Federal Savings and Loans
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2.990 %
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People's United Bank, N.A.
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4.000 %
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Note to Palmetto Heritage Bank & Trust
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Branches

Palmetto Heritage Bank & Trust 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:
Fairfield,Connecticut


Palmetto Heritage Bank & Trust Locations


Financial Details

Palmetto Heritage Bank & Trust Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Palmetto Heritage Bank & Trust. 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
Palmetto Heritage Bank & Trust U.S. Bank Average
17.61% 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, Palmetto Heritage Bank & Trust had $0 in non-current loans and $3,195,000 in owned real estate. To cover these potential losses it had $16,977,000 in equity and $1,170,000 in loans loss reserves. That gives it a Texas Ratio of 17.61%.

Return on Equity
Palmetto Heritage Bank & Trust U.S. Bank Average
12.12% 7.80%

Palmetto Heritage Bank & Trust has a Return on Equity of 12.12% 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
Palmetto Heritage Bank & Trust U.S. Bank Average
10.12% 12.68%

Palmetto Heritage Bank & Trust has a Capitalization of 10.12% 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.

Palmetto Heritage Bank & Trust Balance Sheet Analysis

As of September 30, 2018, Palmetto Heritage Bank & Trust had assets of $164,783,000, loans of $135,199,000, and deposits of $123,488,000. 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 $ 7.48 million
Interest-bearing balances $ 7.19 million
Total securities $ 4.58 million
Federal funds sold and reverse repurchase $ 0.95 million
Net loans and leases $ 135.20 million
Loan loss allowance $ 1.17 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 3.20 million
Goodwill and other intangibles N.A.
All other assets $ 4.76 million
     Total Assets $ 147.81 million
LIABILITIES
Total deposits $ 123.49 million
      Interest-bearing deposits $ 113.87 million
      Deposits held in domestic offices $ 123.49 million
      % insured (estimated) 84.50%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 24.00 million
Subordinated debt N.A.
All other liabilities $ 0.32 million
      Total Liabilities $ 147.81 million
      Shareholders’ Equity $ 19.98 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 6.10 million
Total Interest Expense $ 1.32 million
Net interest income $ 4.79 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.38 million
Total non interest expense $ 3.27 million
Pre-tax Net Operating Income $ 1.94 million

Bank Loan Profile?

The top three loan types in Palmetto Heritage Bank & Trust’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Construction and Development Loans.

Compared to other banks in South Carolina, Palmetto Heritage Bank & Trust has a significantly higher percent of Small Business Loans, Construction and Development 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 48.86
Multifamily
Mortgages
0.57
Credit Card Loans 0.00
Consumer Auto Loans 0.33
Small Business Loans 12.79
Construction and Development Loans 19.12
Commercial Real Estate 22.32
Commercial and Industrial Loans 6.68
Farm Loans 0.00

Frequently Asked Questions About Palmetto Heritage Bank & Trust

Branches and Savings

Is Palmetto Heritage Bank & Trust FDIC insured?

Yes. It is covered under FDIC Certificate #57880.

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

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

Why are Palmetto Heritage Bank & Trust CD rates not competitive?

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

Is Palmetto Heritage Bank & Trust a commercial bank?

Yes

Where are Palmetto Heritage Bank & Trust locations?

See branch locations nearby.

Is Palmetto Heritage Bank & Trust open on Saturdays?

Is Palmetto Heritage Bank & Trust open on Sundays?

What time does Palmetto Heritage Bank & Trust open?

What time does Palmetto Heritage Bank & Trust close?

Are Palmetto Heritage Bank & Trust ATMs Open 24/7?

Do Palmetto Heritage Bank & Trust ATMs accept cash deposits?

Can Palmetto Heritage Bank & Trust customers use other ATMs?

Do Palmetto Heritage Bank & Trust branches have notaries?

Will Palmetto Heritage Bank & Trust notarize my document?

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

Will the Palmetto Heritage Bank & Trust branch print checks?

Do Palmetto Heritage Bank & Trust checks expire?

Does Palmetto Heritage Bank & Trust require US citizenship to open account?

Can Palmetto Heritage Bank & Trust close my account?

Does Palmetto Heritage Bank & Trust Report to credit bureaus?

Does Palmetto Heritage Bank & Trust Use Equifax?

What is Palmetto Heritage Bank & Trust's ACH Routing Number?

What is Palmetto Heritage Bank & Trust's SWIFT code?

Products

Does Palmetto Heritage Bank & Trust offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Palmetto Heritage Bank & Trust offer personal loans?

Compare personal loan rates here.

Does Palmetto Heritage Bank & Trust offer student loans?

Will Palmetto Heritage Bank & Trust cash a check?

Will Palmetto Heritage Bank & Trust redeem a savings bond?

Does Palmetto Heritage Bank & Trust cash savings bonds?

Will Palmetto Heritage Bank & Trust cash money orders?

Can Palmetto Heritage Bank & Trust issue a money order?

Does Palmetto Heritage Bank & Trust do currency exchange?

Background on The Bank

Who owns Palmetto Heritage Bank & Trust?

How long has Palmetto Heritage Bank & Trust been around?

Can Palmetto Heritage Bank & Trust transfer to other banks?

Does Palmetto Heritage Bank & Trust have quick pay?

Does Palmetto Heritage Bank & Trust accept rolled coins?

Will Palmetto Heritage Bank & Trust accept loose change?

Where is Palmetto Heritage Bank & Trust headquarters?

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