Primebank

37 First Avenue, N.W.
Le Mars, IA 51031

 

2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 8101
Date Established 1901
Assets $0.46 billion
Loans $0.40 billion
Deposits $0.41 billion
Capital $0.05 billion

Primebank is an FDIC insured institution located in Le Mars, IA. It was founded in 1901 and has approximately $0.46 billion in assets. Customers can open an account at one of its 3 branches.

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

Deposit Rates - October 15, 2019

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Money Market
0.50% $2,500 $9,999 Learn MoreShow Less
Money Market
0.60% $10,000 $24,999 Learn MoreShow Less
Money Market
0.70% $25,000 $49,999 Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
1.20% $10,000 - Learn MoreShow Less
6 Mo CD
1.70% $10,000 - Learn MoreShow Less
Special: 11 Mo CD
2.10% $5,000 - Learn MoreShow Less
1.80% $10,000 $9,999,999 Learn MoreShow Less
12 Mo CD
1.80% $10,000 - Learn MoreShow Less
1.85% $10,000 $9,999,999 Learn MoreShow Less
18 Mo CD
1.85% $10,000 - Learn MoreShow Less
1.90% $10,000 $9,999,999 Learn MoreShow Less
24 Mo CD
1.90% $10,000 - Learn MoreShow Less
1.95% $10,000 $9,999,999 Learn MoreShow Less
30 Mo CD
1.95% $10,000 - Learn MoreShow Less
2.00% $10,000 $9,999,999 Learn MoreShow Less
36 Mo CD
2.00% $10,000 - Learn MoreShow Less
2.10% $10,000 $9,999,999 Learn MoreShow Less
48 Mo CD
2.10% $10,000 - Learn MoreShow Less
60 Mo CD
2.20% $10,000 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
1.55% $1,000 $9,999 Learn MoreShow Less
Variable IRA Rates APY MIN MAX
1.75% $1 $9,999 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $500 $4,999 Learn MoreShow Less

Loan Rates - October 15, 2019

Your Current Location: Connecticut, CT 06828

Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

Primebank 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


Primebank Locations


Financial Details

Primebank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Primebank. 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
Primebank U.S. Bank Average
11.12% 6.77%

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 June 30, 2019, Primebank had $5,855,000 in non-current loans and $625,000 in owned real estate. To cover these potential losses it had $54,202,000 in equity and $4,085,000 in loans loss reserves. That gives it a Texas Ratio of 11.12%.

Return on Equity
Primebank U.S. Bank Average
12.8% 9.50%

Primebank has a Return on Equity of 12.8% versus the BestCashCow average of 9.50%. 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
Primebank U.S. Bank Average
11.71% 12.76%

Primebank has a Capitalization of 11.71% versus the BestCashCow average of 12.76. 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.

Primebank Balance Sheet Analysis

As of June 30, 2019, Primebank had assets of $463,027,000, loans of $397,222,000, and deposits of $406,309,000. 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, 2019
ASSETS
Cash & Balances due from depository institutions $0.01 billion
Interest-bearing balances $0.00 billion
Total securities $0.04 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.40 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 $0.41 billion
LIABILITIES
Total deposits $0.41 billion
      Interest-bearing deposits $0.35 billion
      Deposits held in domestic offices $0.41 billion
      % insured (estimated) 84.13%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.00 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.41 billion
      Shareholders’ Equity $0.05 billion

Summary Income Statement

June 30, 2019
INCOME AND EXPENSES
Total Interest Income $0.01 billion
Total Interest Expense $0.00 billion
Net interest income $0.01 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 Primebank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Farm Loans.

Compared to other banks, Primebank’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 19.58
Multifamily
Mortgages
2.49
Credit Card Loans 0.22
Consumer Auto Loans 0.63
Small Business Loans 9.17
Construction and Development Loans 6.76
Commercial Real Estate 19.11
Commercial and Industrial Loans 14.26
Farm Loans 15.01

Frequently Asked Questions About Primebank

Branches and Savings

Is Primebank FDIC insured?

Yes. It is covered under FDIC Certificate #8101.

Why does Primebank pay such low interest on savings accounts?

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

Why are Primebank CD rates not competitive?

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

Is Primebank a commercial bank?

Yes

Where are Primebank locations?

See branch locations nearby.

Is Primebank open on Saturdays?

Is Primebank open on Sundays?

What time does Primebank open?

What time does Primebank close?

Are Primebank ATMs Open 24/7?

Do Primebank ATMs accept cash deposits?

Can Primebank customers use other ATMs?

Do Primebank branches have notaries?

Will Primebank notarize my document?

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

Will the Primebank branch print checks?

Do Primebank checks expire?

Does Primebank require US citizenship to open account?

Can Primebank close my account?

Does Primebank Report to credit bureaus?

Does Primebank Use Equifax?

What is Primebank's ACH Routing Number?

What is Primebank's SWIFT code?

Products

Does Primebank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Primebank offer personal loans?

Compare personal loan rates here.

Does Primebank offer student loans?

Will Primebank cash a check?

Will Primebank redeem a savings bond?

Does Primebank cash savings bonds?

Will Primebank cash money orders?

Can Primebank issue a money order?

Does Primebank do currency exchange?

Background on The Bank

Who owns Primebank?

How long has Primebank been around?

Can Primebank transfer to other banks?

Does Primebank have quick pay?

Does Primebank accept rolled coins?

Will Primebank accept loose change?

Where is Primebank headquarters?

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