Platinum Bank

7667 10th Street North
Oakdale, MN 55128


2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 58511
Date Established 2007
Assets $0.25 billion
Loans $0.21 billion
Deposits $0.20 billion
Capital $0.02 billion

Platinum Bank is an FDIC insured institution located in Oakdale, MN. It was founded in 2007 and has approximately $0.25 billion in assets. Customers can open an account at one of its 2 branches.

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

Deposit Rates - September 15, 2019

Your Current Location: Connecticut, CT 06828

There are currently no rates available for Platinum Bank, but see these great savings and CD rates:

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Loan Rates - September 15, 2019

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Platinum Bank

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 2019

Lender APR Rate (%) Points Fees Monthly
Learn More
NMLS ID: 2890
License#: 13256
3.751% 3.750% 0.00 $25 $1,158 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2019

Lender APR (%)? Monthly Payment? Learn More
Figure Home Equity Line
Figure Home Equity Line
0.000 %
$0 Learn More
More Info
Bethpage Federal Credit Union
Bethpage Federal Credit Union
Intro APR
3.990 %
After Intro: 5.500 %
Intro Period: 12 months
$25,000 Learn More
More Info

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Financial Details

Platinum Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Platinum Bank. The data is provided by the FDIC. All banks listed on are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Platinum Bank U.S. Bank Average
10.79% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s 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, 2019, Platinum Bank had $2,783,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $22,724,000 in equity and $3,078,000 in loans loss reserves. That gives it a Texas Ratio of 10.79%.

Return on Equity
Platinum Bank U.S. Bank Average
19.05% 9.47%

Platinum Bank has a Return on Equity of 19.05% versus the BestCashCow average of 9.47%. 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.

Platinum Bank U.S. Bank Average
9.22% 12.49%

Platinum Bank has a Capitalization of 9.22% versus the BestCashCow average of 12.49. 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.

Platinum Bank Balance Sheet Analysis

As of March 31, 2019, Platinum Bank had assets of $246,525,000, loans of $210,626,000, and deposits of $199,305,000. 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, 2019
Cash & Balances due from depository institutions $0.02 billion
Interest-bearing balances $0.02 billion
Total securities $0.01 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.21 billion
Loan loss allowance $0.00 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.00 billion
All other assets $0.00 billion
     Total Assets $0.22 billion
Total deposits $0.20 billion
      Interest-bearing deposits $0.14 billion
      Deposits held in domestic offices $0.20 billion
      % insured (estimated) 51.51%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.02 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.22 billion
      Shareholders’ Equity $0.02 billion

Summary Income Statement

March 31, 2019
Total Interest Income $0.00 billion
Total Interest Expense $0.00 billion
Net interest income $0.00 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.00 billion
Pre-tax Net Operating Income $0.00 billion

Bank Loan Profile?

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

Compared to other banks in Minnesota, Platinum Bank has a significantly higher percent of Commercial Real Estate, Commercial and Industrial 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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 17.58
Credit Card Loans 0.00
Consumer Auto Loans 0.11
Small Business Loans 9.53
Construction and Development Loans 1.02
Commercial Real Estate 41.41
Commercial and Industrial Loans 37.84
Farm Loans 0.00

Frequently Asked Questions About Platinum Bank

Branches and Savings

Is Platinum Bank FDIC insured?

Yes. It is covered under FDIC Certificate #58511.

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

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

Why are Platinum Bank CD rates not competitive?

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

Is Platinum Bank a commercial bank?


Where are Platinum Bank locations?

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Is Platinum Bank open on Saturdays?

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Are Platinum Bank ATMs Open 24/7?

Do Platinum Bank ATMs accept cash deposits?

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Do Platinum Bank branches have notaries?

Will Platinum Bank notarize my document?

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Will the Platinum Bank branch print checks?

Do Platinum Bank checks expire?

Does Platinum Bank require US citizenship to open account?

Can Platinum Bank close my account?

Does Platinum Bank Report to credit bureaus?

Does Platinum Bank Use Equifax?

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Does Platinum Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Platinum Bank offer personal loans?

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Does Platinum Bank offer student loans?

Will Platinum Bank cash a check?

Will Platinum Bank redeem a savings bond?

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Background on The Bank

Who owns Platinum Bank?

How long has Platinum Bank been around?

Can Platinum Bank transfer to other banks?

Does Platinum Bank have quick pay?

Does Platinum Bank accept rolled coins?

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