Priority Bank

Headquarters

3401 East Mission Blvd
Fayetteville, AR 72703
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 2.55% →
1-Year CD 0.40% 2.80% →
2-Year CD 0.50% 3.20% →
5-Year CD N.A. 3.65% →
30-Year Mortgage N.A. 6.31% →
15-Year Mortgage N.A. 5.86% →
HELOC N.A. 2.79% →

2022 Overview

General Bank Information

Priority Bank is an FDIC insured institution located in Fayetteville, AR. It was founded in 1993 and has approximately $0.09 billion in assets. Customers can open an account at one of its 3 branches.

FDIC Insured Yes
FDIC Certificate # 33818
Date Established 1993
Assets $ 92.86 million
Loans $ 71.98 million
Deposits $ 69.55 million
Capital $ 9.50 million
 

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

Deposit Rates - August 13, 2022

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.10% $2,500 $4,999 Learn More
Money Market
0.10% $2,500 $2,999 Learn More
Money Market
0.30% $10,000 $14,999 Learn More
Money Market
0.30% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.30% $10,000 $14,999 Learn More
6 Mo CD
0.30% $100,000 $199,999 Learn More
12 Mo CD
0.40% $10,000 $14,999 Learn More
12 Mo CD
0.40% $100,000 $199,999 Learn More
18 Mo CD
0.45% $10,000 $14,999 Learn More
18 Mo CD
0.45% $100,000 $199,999 Learn More
24 Mo CD
0.50% $10,000 $14,999 Learn More
24 Mo CD
0.50% $100,000 $199,999 Learn More
36 Mo CD
0.55% $10,000 $14,999 Learn More
36 Mo CD
0.55% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.10% $2,500 $3,499 Learn MoreShow Less
 

Loan Rates - August 13, 2022

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Priority 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 2022

Lender APR Rate (%) Monthly
Payment
Learn More
PADDIO
NMLS ID: 1907
5.301% 5.125%
1.00 points
$5,000 fees
$1,362 Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
4.851% 4.750%
0.75 points
$2,920 fees
$1,305 Learn More
Morty, Inc.
NMLS ID: 1429243
4.697% 4.625%
0.88 points
$2,098 fees
$1,286 Learn More
First Internet Bank
NMLS ID: 424182
5.043% 4.990%
0.63 points
$1,502 fees
$1,341 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2022

Lender APR (%)? Monthly Payment? Learn More

Note to Priority Bank
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Priority 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:
Fairfield,Connecticut


Priority Bank Locations



Climate Initiatives

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

Financial Details

Priority Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Priority 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
Priority Bank U.S. Bank Average
17.32% 4.01%

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, 2022, Priority Bank had $1,565,000 in non-current loans and $327,000 in owned real estate. To cover these potential losses it had $9,496,000 in equity and $1,430,000 in loans loss reserves. That gives it a Texas Ratio of 17.32%.

Return on Equity
Priority Bank U.S. Bank Average
13.61% 9.01%

Priority Bank has a Return on Equity of 13.61% versus the BestCashCow average of 9.01%. 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
Priority Bank U.S. Bank Average
10.23% 10.66%

Priority Bank has a Capitalization of 10.23% versus the BestCashCow average of 10.66. 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.

Priority Bank Balance Sheet Analysis

As of March 31, 2022, Priority Bank had assets of $92,858,000, loans of $71,979,000, and deposits of $69,551,000. 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, 2022
ASSETS
Cash & Balances due from depository institutions $ 15.08 million
Interest-bearing balances $ 14.68 million
Total securities $ 1.94 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 71.98 million
Loan loss allowance $ 1.43 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.33 million
Goodwill and other intangibles $ 0.20 million
All other assets $ 2.12 million
     Total Assets $ 83.36 million
LIABILITIES
Total deposits $ 69.55 million
      Interest-bearing deposits $ 57.96 million
      Deposits held in domestic offices $ 69.55 million
      % insured (estimated) 86.04%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 13.37 million
Subordinated debt N.A.
All other liabilities $ 0.44 million
      Total Liabilities $ 83.36 million
      Shareholders’ Equity $ 9.50 million

Summary Income Statement

March 31, 2022
INCOME AND EXPENSES
Total Interest Income $ 1.09 million
Total Interest Expense $ 0.21 million
Net interest income $ 0.89 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.75 million
Total non interest expense $ 1.32 million
Pre-tax Net Operating Income $ 0.32 million

Bank Loan Profile?

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

Compared to other banks in Arkansas, Priority Bank has a significantly higher percent of 1-4 Family Residential 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 80.35
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 0.96
Small Business Loans 0.00
Construction and Development Loans 8.99
Commercial Real Estate 5.05
Commercial and Industrial Loans 2.07
Farm Loans 0.97

Customer Reviews for Priority Bank


  • December 2, 2020 |

    Only gave it one star because we had to. We were referred to Priority Bank by Rausch and Coleman homes as we purchased a house from them. That is the only reason we even started a home mortgage with them. They have the most rude, unprofessional and degrading employees. Their customer service is horrendous. When we complained, all we got was an apology. First, their representative, Mauricio and boss, Kelli Franks, told us to show up at the Mission Blvd. branch. Even in COVID-19, we wanted to do that, so that our identities could be verified and so that we could provide copies of any needed documents. Mind you, we showed up with seniors above 80 years of age. Far from it being a step towards informing us about the loan or processing it, they type-casted us because we weren't white. On top of that, I, as a female, was summoned by their representative, Mauricio, to his office where His Highness did not even budge from his seat as I stood before him repeating that I am here, with the seniors and all documents because YOU and I made an appointment (I made that painstakingly after calling that guy for a follow-up several times!). I stood there talking as if I was a beggar. At some point, I seated myself. The guy's desk was clear. He was too busy showing off his muscles and probably thought he looked handsome or a big shot or something. I am a very busy person and moved around a lot of things to show up there with seniors. So, I ignored. The Bank never even opened a file on our case. I made several follow-up calls and sent emails to be prepared for any other mortgage related issues in time for the closing. Not only did I never get a response, but on the fly, Mauricio and Kelli Frank told us to move 100k+ worth of money between banks and accounts to ensure that we would have the down payment WE decided to put down at the time of closing. No, you have no right to tell people to move money or show you any money before you have processed a loan application and are ready to take interest rates. Even after that, the negligence continued. We called, emailed and texted them several times and they disappeared. 1.5 months later, their representative, Mauricio, got back to us and asked us where we were at 1.5 months ago with the money moving and showing! I still reminded him and wanted this to go smoothly because Rausch and Coleman Homes had pointed us towards them. Again, nothing. Then suddenly, Thanksgiving Day, he emails on how everything needs to be done. The guy did not even have the borrower's name right on the lending documents for which I had already provided all license copies! Next, he starting texting and emailing with smiley faces Sunday after Thanksgiving, late in the evening to see if I got his emails. Never once in his emails did the guy even have the courtesy to address his client properly. Emails just started without salutations or greetings. If I asked a question by email, there was never a response. We finally decided to put full cash down on the house because guess what? The brown seniors Priority Bank on Mission Blvd. saw actually had money in their pockets! Kelli, the supervisor, simply put through a phone call to apologize after it was all over. The representative is still there. She never had a file to look into the case, so obviously she was not going to solve any issues or take up the case herself...so much for being a supervisor!
    We are NOT first time home buyers. Not a single bank from BoA, to Wells Fargo to Arvest has treated us poorly let alone so degradingly. Hope Rausch and Coleman Homes make a note of this as they have recently purchased a lot of property to build similar homes in other towns of Arkansas.

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