Sanborn Savings Bank

Headquarters

219 Main Street
Sanborn, IA 51248
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.40% →
1-Year CD N.A. 1.15% →
2-Year CD N.A. 1.26% →
5-Year CD N.A. 1.60% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Sanborn Savings Bank is an FDIC insured institution located in Sanborn, IA. It was founded in 1899 and has approximately $0.07 billion in assets.

FDIC Insured Yes
FDIC Certificate # 11352
Date Established 1899
Assets $ 69.34 million
Loans $ 48.15 million
Deposits $ 55.54 million
Capital $ 6.79 million
 

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

Deposit Rates - July 4, 2020

Your Current Location: Connecticut, CT 06828


Loan Rates - July 4, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Sanborn Savings Bank

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




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Note to Sanborn Savings Bank
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Branches

Sanborn Savings 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


Sanborn Savings Bank Locations


Financial Details

Sanborn Savings Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Sanborn Savings 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
Sanborn Savings Bank U.S. Bank Average
3.2% 6.51%

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 December 31, 2019, Sanborn Savings Bank had $172,000 in non-current loans and $65,000 in owned real estate. To cover these potential losses it had $6,791,000 in equity and $614,000 in loans loss reserves. That gives it a Texas Ratio of 3.2%.

Return on Equity
Sanborn Savings Bank U.S. Bank Average
9.86% 9.41%

Sanborn Savings Bank has a Return on Equity of 9.86% versus the BestCashCow average of 9.41%. 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
Sanborn Savings Bank U.S. Bank Average
9.79% 12.82%

Sanborn Savings Bank has a Capitalization of 9.79% versus the BestCashCow average of 12.82. 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.

Sanborn Savings Bank Balance Sheet Analysis

As of December 31, 2019, Sanborn Savings Bank had assets of $69,335,000, loans of $48,154,000, and deposits of $55,540,000. 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

December 31, 2019
ASSETS
Cash & Balances due from depository institutions $ 10.71 million
Interest-bearing balances $ 9.47 million
Total securities $ 7.37 million
Federal funds sold and reverse repurchase $ 0.29 million
Net loans and leases $ 48.15 million
Loan loss allowance $ 0.61 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.07 million
Goodwill and other intangibles $ 0.27 million
All other assets $ 2.21 million
     Total Assets $ 62.54 million
LIABILITIES
Total deposits $ 55.54 million
      Interest-bearing deposits $ 50.75 million
      Deposits held in domestic offices $ 55.54 million
      % insured (estimated) 74.30%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 6.55 million
Subordinated debt N.A.
All other liabilities $ 0.45 million
      Total Liabilities $ 62.54 million
      Shareholders’ Equity $ 6.79 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 2.89 million
Total Interest Expense $ 0.77 million
Net interest income $ 2.12 million
Provision for loan and lease losses $ 0.12 million
Total non interest income $ 0.13 million
Total non interest expense $ 1.44 million
Pre-tax Net Operating Income $ 0.69 million

Bank Loan Profile?

The top three loan types in Sanborn Savings Bank’s loan portfolio are 1-4 Family Residential Loans, Farm Loans, and Commercial and Industrial Loans.

Compared to other banks in Iowa, Sanborn Savings Bank has a significantly higher percent of Credit Card 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 20.77
Multifamily
Mortgages
2.84
Credit Card Loans 0.42
Consumer Auto Loans 1.84
Small Business Loans 3.58
Construction and Development Loans 1.18
Commercial Real Estate 3.58
Commercial and Industrial Loans 7.19
Farm Loans 20.19

Frequently Asked Questions About Sanborn Savings Bank

Branches and Savings

Is Sanborn Savings Bank FDIC insured?

Yes. It is covered under FDIC Certificate #11352.

Why does Sanborn Savings Bank pay such low interest on savings accounts?

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

Why are Sanborn Savings Bank CD rates not competitive?

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

Is Sanborn Savings Bank a commercial bank?

Yes

Where are Sanborn Savings Bank locations?

See branch locations nearby.

Is Sanborn Savings Bank open on Saturdays?

Is Sanborn Savings Bank open on Sundays?

What time does Sanborn Savings Bank open?

What time does Sanborn Savings Bank close?

Are Sanborn Savings Bank ATMs Open 24/7?

Do Sanborn Savings Bank ATMs accept cash deposits?

Can Sanborn Savings Bank customers use other ATMs?

Do Sanborn Savings Bank branches have notaries?

Will Sanborn Savings Bank notarize my document?

What address for Sanborn Savings Bank should I put for incoming ACH transfers?

Will the Sanborn Savings Bank branch print checks?

Do Sanborn Savings Bank checks expire?

Does Sanborn Savings Bank require US citizenship to open account?

Can Sanborn Savings Bank close my account?

Does Sanborn Savings Bank Report to credit bureaus?

Does Sanborn Savings Bank Use Equifax?

What is Sanborn Savings Bank's ACH Routing Number?

What is Sanborn Savings Bank's SWIFT code?

Products

Does Sanborn Savings Bank offer mortgages?

Compare mortgage rates here.

Does Sanborn Savings Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Sanborn Savings Bank offer personal loans?

Compare personal loan rates here.

Does Sanborn Savings Bank offer student loans?

Will Sanborn Savings Bank cash a check?

Will Sanborn Savings Bank redeem a savings bond?

Does Sanborn Savings Bank cash savings bonds?

Will Sanborn Savings Bank cash money orders?

Can Sanborn Savings Bank issue a money order?

Does Sanborn Savings Bank do currency exchange?

Background on The Bank

Who owns Sanborn Savings Bank?

How long has Sanborn Savings Bank been around?

Can Sanborn Savings Bank transfer to other banks?

Does Sanborn Savings Bank have quick pay?

Does Sanborn Savings Bank accept rolled coins?

Will Sanborn Savings Bank accept loose change?

Where is Sanborn Savings Bank headquarters?

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