Somerset Trust Company

151 West Main Street
Somerset, PA 15501

 

2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 11112
Date Established 1889
Assets $1.23 billion
Loans $0.84 billion
Deposits $1.00 billion
Capital $0.09 billion

Somerset Trust Company is an FDIC insured institution located in Somerset, PA. It was founded in 1889 and has approximately $1.23 billion in assets. Customers can open an account at one of its 33 branches.

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

Bank Loan Profile?

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

Compared to other banks in Pennsylvania, Somerset Trust Company has a significantly higher percent of Credit Card Loans, 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.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 23.99
Multifamily
Mortgages
1.84
Credit Card Loans 0.48
Consumer Auto Loans 1.59
Small Business Loans 10.86
Construction and Development Loans 4.46
Commercial Real Estate 27.84
Commercial and Industrial Loans 26.46
Farm Loans 0.55

Deposit Rates - April 21, 2019

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.20% $2,500 $24,999 Learn MoreShow Less
Money Market
0.25% $25,000 $49,999 Learn MoreShow Less
Premium Money Market Account
0.15% $250 $49,999 Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
0.15% $1,500 - Learn MoreShow Less
6 Mo CD
0.20% $1,500 - Learn MoreShow Less
12 Mo CD
0.35% $5,000 - Learn MoreShow Less
18 Mo CD
0.40% $5,000 - Learn MoreShow Less
24 Mo CD
0.95% $5,000 - Learn MoreShow Less
36 Mo CD
1.00% $5,000 - Learn MoreShow Less
48 Mo CD
1.15% $5,000 - Learn MoreShow Less
60 Mo CD
1.35% $5,000 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
1.51% $500 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.35% $250 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.15% $1 - Learn MoreShow Less

Loan Rates - April 21, 2019

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Somerset Trust Company

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

Featured - Virginia 30 Year Fixed Mortgage Rates 2019

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
J.G. Wentworth Home Lending, LLC
NMLS ID: 2925
License#: MC-1875
4.030% 4.000% 0.38 $892 $1,194 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
5.375% 5.375% 0.00 $0 $1,400 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2019

Lender APR (%)? Monthly Payment? Learn More
PenFed Credit Union
PenFed Credit Union
5.500 %
$0 Learn More
More Info
Third Federal Savings and Loans
Third Federal Savings and Loans
4.490 %
$0 Learn More
More Info

Note to Somerset Trust Company
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Branches

Somerset Trust Company 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:
Ashburn,Virginia


Somerset Trust Company Locations


Financial Details

Somerset Trust Company Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Somerset Trust Company. 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
Somerset Trust Company U.S. Bank Average
8.81% 6.97%

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 December 31, 2018, Somerset Trust Company had $7,719,000 in non-current loans and $1,456,000 in owned real estate. To cover these potential losses it had $93,196,000 in equity and $10,975,000 in loans loss reserves. That gives it a Texas Ratio of 8.81%.

Return on Equity
Somerset Trust Company U.S. Bank Average
12.3% 8.80%

Somerset Trust Company has a Return on Equity of 12.3% versus the BestCashCow average of 8.80%. 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
Somerset Trust Company U.S. Bank Average
7.58% 12.29%

Somerset Trust Company has a Capitalization of 7.58% versus the BestCashCow average of 12.29. 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.

Somerset Trust Company Balance Sheet Analysis

As of December 31, 2018, Somerset Trust Company had assets of $1,230,098,000, loans of $837,531,000, and deposits of $1,002,860,000. 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, 2018
ASSETS
Cash & Balances due from depository institutions $0.05 billion
Interest-bearing balances $0.02 billion
Total securities $0.27 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.84 billion
Loan loss allowance $0.01 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 $0.04 billion
     Total Assets $1.14 billion
LIABILITIES
Total deposits $1.00 billion
      Interest-bearing deposits $0.79 billion
      Deposits held in domestic offices $1.00 billion
      % insured (estimated) 93.65%
Federal funds purchased and repurchase agreements $0.02 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.11 billion
Subordinated debt $0.00 billion
All other liabilities $0.01 billion
      Total Liabilities $1.14 billion
      Shareholders’ Equity $0.09 billion

Summary Income Statement

December 31, 2018
INCOME AND EXPENSES
Total Interest Income $0.06 billion
Total Interest Expense $0.01 billion
Net interest income $0.05 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.01 billion
Total non interest expense $0.05 billion
Pre-tax Net Operating Income $0.01 billion

Frequently Asked Questions About Somerset Trust Company

Branches and Savings

Is Somerset Trust Company FDIC insured?

Yes. It is covered under FDIC Certificate #11112.

Why does Somerset Trust Company pay such low interest on savings accounts?

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

Why are Somerset Trust Company CD rates not competitive?

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

Is Somerset Trust Company a commercial bank?

Yes

Where are Somerset Trust Company locations?

See branch locations nearby.

Is Somerset Trust Company open on Saturdays?

Is Somerset Trust Company open on Sundays?

What time does Somerset Trust Company open?

What time does Somerset Trust Company close?

Are Somerset Trust Company ATMs Open 24/7?

Do Somerset Trust Company ATMs accept cash deposits?

Can Somerset Trust Company customers use other ATMs?

Do Somerset Trust Company branches have notaries?

Will Somerset Trust Company notarize my document?

What address for Somerset Trust Company should I put for incoming ACH transfers?

Will the Somerset Trust Company branch print checks?

Do Somerset Trust Company checks expire?

Does Somerset Trust Company require US citizenship to open account?

Can Somerset Trust Company close my account?

Does Somerset Trust Company Report to credit bureaus?

Does Somerset Trust Company Use Equifax?

What is Somerset Trust Company's ACH Routing Number?

What is Somerset Trust Company's SWIFT code?

Products

Does Somerset Trust Company offer mortgages?

Compare mortgage rates here.

Does Somerset Trust Company offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Somerset Trust Company offer personal loans?

Compare personal loan rates here.

Does Somerset Trust Company offer student loans?

Will Somerset Trust Company cash a check?

Will Somerset Trust Company redeem a savings bond?

Does Somerset Trust Company cash savings bonds?

Will Somerset Trust Company cash money orders?

Can Somerset Trust Company issue a money order?

Does Somerset Trust Company do currency exchange?

Background on The Bank

Who owns Somerset Trust Company?

How long has Somerset Trust Company been around?

Can Somerset Trust Company transfer to other banks?

Does Somerset Trust Company have quick pay?

Does Somerset Trust Company accept rolled coins?

Will Somerset Trust Company accept loose change?

Where is Somerset Trust Company headquarters?

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