Prime Alliance Bank

Headquarters

1868 South 500 West
Woods Cross, UT 84087
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.60% 0.85% →
1-Year CD 0.45% 0.67% →
2-Year CD 0.60% 0.80% →
5-Year CD 0.75% 1.25% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

Prime Alliance Bank is an FDIC insured institution located in Woods Cross, UT. It was founded in 2004 and has approximately $0.5 billion in assets.

FDIC Insured Yes
FDIC Certificate # 57920
Date Established 2004
Assets $ 499.98 million
Loans $ 419.46 million
Deposits $ 432.29 million
Capital $ 60.38 million
 

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

Deposit Rates - November 29, 2021

Your Current Location: Washington, WA 98109

Savings and Money Market Rates APY MIN MAX
Personal Savings Account
0.60% $0 - Learn More
CD Rates APY MIN MAX
12 Month Online CD
0.45% $500 - Learn More
18 Month Online CD
0.55% $500 - Learn More
24 Month Online CD
0.60% $500 - Learn More
36 Month Online CD
0.65% $500 - Learn More
48 Month Online CD
0.70% $500 - Learn More
60 Month Online CD
0.75% $500 - Learn More

Bank Offers

Prime Alliance Bank Lowers Its Online Savings Rate to 0.50% APY
Jun 2, 2021

Prime Alliance Bank, a small Utah-based bank that has been competitive in the online savings (money market) space over the last year, has lowered its online savings rate from 0.60% to 0.50% APY.


Prime Alliance Bank Raises Its Online Savings / Money Market Rates to 0.60% APY
Aug 3, 2021

Prime Alliance has raised its online savings and money market rates by ten basis points from 0.50% to 0.60% APY.


 

Loan Rates - November 29, 2021

Your Current Location: Washington, WA 98109

There are currently no loan rates available for Prime Alliance Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Washington 30 Year Fixed Mortgage Rates 2021

Lender APR Rate (%) Monthly
Payment
Learn More
First Internet Bank
NMLS ID: 424182
2.822% 2.750%
0.88 points
$2,338 fees
$1,021 Learn More

Featured - Washington Home Equity Line Of Credit Rates 2021

Lender APR (%)? Monthly Payment? Learn More
Flagstar Bank-Heloc
Flagstar Bank-Heloc
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4.990 %
$0 Learn More
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Bethpage Federal Credit Union
Bethpage Federal Credit Union
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Intro APR 2.990 %
After Intro: 3.750 %
Intro Period: 12 months
$25,000 Learn More
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BMO Harris Bank
BMO Harris Bank
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Intro APR 1.790 %
After Intro: 4.840 %
Intro Period: 6 months
$0 Learn More
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Note to Prime Alliance Bank
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Branches

Prime Alliance 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


Prime Alliance Bank Locations



Climate Initiatives

Prime Alliance Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

Financial Details

Prime Alliance Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Prime Alliance 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
Prime Alliance Bank U.S. Bank Average
24.28% 4.78%

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 June 30, 2021, Prime Alliance Bank had $17,673,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $60,382,000 in equity and $12,396,000 in loans loss reserves. That gives it a Texas Ratio of 24.28%.

Return on Equity
Prime Alliance Bank U.S. Bank Average
20.26% 11.29%

Prime Alliance Bank has a Return on Equity of 20.26% versus the BestCashCow average of 11.29%. 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
Prime Alliance Bank U.S. Bank Average
12.08% 11.72%

Prime Alliance Bank has a Capitalization of 12.08% versus the BestCashCow average of 11.72. 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.

Prime Alliance Bank Balance Sheet Analysis

As of June 30, 2021, Prime Alliance Bank had assets of $499,980,000, loans of $419,458,000, and deposits of $432,292,000. 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

June 30, 2021
ASSETS
Cash & Balances due from depository institutions $ 5.56 million
Interest-bearing balances $ 2.75 million
Total securities $ 64.50 million
Federal funds sold and reverse repurchase $ 4.48 million
Net loans and leases $ 419.46 million
Loan loss allowance $ 12.40 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 $ 5.90 million
     Total Assets $ 439.60 million
LIABILITIES
Total deposits $ 432.29 million
      Interest-bearing deposits $ 410.34 million
      Deposits held in domestic offices $ 432.29 million
      % insured (estimated) 83.42%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 6.00 million
Subordinated debt N.A.
All other liabilities $ 1.31 million
      Total Liabilities $ 439.60 million
      Shareholders’ Equity $ 60.38 million

Summary Income Statement

June 30, 2021
INCOME AND EXPENSES
Total Interest Income $ 15.50 million
Total Interest Expense $ 3.96 million
Net interest income $ 11.54 million
Provision for loan and lease losses $ 2.64 million
Total non interest income $ 0.01 million
Total non interest expense $ 3.12 million
Pre-tax Net Operating Income $ 5.79 million

Bank Loan Profile?

The top three loan types in Prime Alliance Bank’s loan portfolio are Commercial and Industrial Loans, Commercial Real Estate, and Small Business Loans.

Compared to other banks, Prime Alliance Bank’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 0.12
Multifamily
Mortgages
0.49
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 3.28
Construction and Development Loans 0.98
Commercial Real Estate 11.99
Commercial and Industrial Loans 53.94
Farm Loans 0.00

Customer Reviews for Prime Alliance Bank


  • November 15, 2021 |

    Online Savings Rates

    Great rate and never a problem.

  • October 1, 2021 |

    Online Savings Rates

    I opened the account, having seen it listed on this site or on ratesandinfo.com after they raised their rate. I have not been disappointed but I have not needed to reach customer service. I did notice that interest is only credited quarterly and that means you will lose accrued interest in you close it on a day other than Jan 1, April 1, July 1 or October 1.

  • May 29, 2021 |

    Online Savings Rates

    Not a bad experience to open the account. I only learned that interest is credited quarterly and that is at least a nuisance. I wish I had known.

  • May 5, 2021 |

    Online Savings Rates

    Easy as pie and well worth my time to get 50% more than the major online banks are offering.

  • April 19, 2021 |

    Online Savings Rates

    If 0.60% is one of the best rates and it is, then I have nothing to complain about. It has been an easy enough experience.

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