Summit Community Bank, Inc

300 North Main Street
Moorefield, WV 26836

Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 34102
Date Established 1995
Assets $2.09 billion
Loans $1.54 billion
Deposits $1.62 billion
Capital $0.21 billion

Summit Community Bank, Inc is an FDIC insured institution located in Moorefield, WV. It was founded in 1995 and has approximately $2.09 billion in assets. Customers can open an account at one of its 20 branches.

For a more detailed analysis of Summit Community Bank, Inc'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 Summit Community Bank, Inc’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Commercial and Industrial Loans.

Compared to other banks in West Virginia, Summit Community Bank, Inc has a significantly higher percent of Multifamily Mortgages, Commercial Real Estate 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 32.60
Multifamily
Mortgages
7.68
Credit Card Loans 0.09
Consumer Auto Loans 1.23
Small Business Loans 8.91
Construction and Development Loans 6.31
Commercial Real Estate 35.83
Commercial and Industrial Loans 10.29
Farm Loans 0.99

Deposit Rates

Your Current Location: Virginia, VA 20146

CD Rates APY MIN MAX
03MCD10K
0.26% $10,000 $49,999 Learn MoreShow Less
3 Mo CD 100K
0.31% $50,000 - Learn MoreShow Less
06MCD10K
0.31% $10,000 $49,999 Learn MoreShow Less
6 Mo CD 100K
0.36% $50,000 - Learn MoreShow Less
Savings Rates APY MIN MAX
Fixed IRA Rates APY MIN MAX
FIXIRA0K
0.47% $500 $9,999 Learn MoreShow Less
Special: 12 Mo FIRA
1.12% $5,000 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA 0K
0.52% $500 $9,999 Learn MoreShow Less
MM Rates APY MIN MAX
MM 2.5K
0.05% $2,500 $9,999 Learn MoreShow Less
MM 10K
0.07% $10,000 $49,999 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg 0K
0.02% $1,000 $9,999 Learn MoreShow Less

Loan Rates

Your Current Location: Virginia, VA 20146

Home Equity 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

Summit Community Bank, Inc 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


Summit Community Bank, Inc Locations

Financial Details

Summit Community Bank, Inc Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Summit Community Bank, Inc. 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
Summit Community Bank, Inc U.S. Bank Average
17.07% 8.45

The Texas Ratio compares the amount of loans at risk and the amount of owned real estate with the amount a bank has on hand to cover any losses. As of June 30, 2017, Summit Community Bank, Inc had $13,701,000 in non-current loans and $23,591,000 in owned real estate. To cover these potential losses it had $206,147,000 in equity and $12,332,000 in loans loss reserves. That gives it a Texas Ratio of 17.07%. The closer the Texas Ratio is to 100% and over, the less capital and reserves a bank has to absorb its loan losses.

Return on Equity
Summit Community Bank, Inc U.S. Bank Average
4.19% 8.58

Summit Community Bank, Inc has a Return on Equity of 4.19% versus the BestCashCow average of 8.58. 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
Summit Community Bank, Inc U.S. Bank Average
9.87% 12.11

Summit Community Bank, Inc has a Capitalization of 9.87% versus the BestCashCow average of 12.11. 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.

Summit Community Bank, Inc Balance Sheet Analysis

As of June 30, 2017, Summit Community Bank, Inc had assets of $2,088,139,000, loans of $1,539,136,000, and deposits of $1,615,700,000. 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.

Frequently Asked Questions About Summit Community Bank, Inc

Branches and Savings

Is Summit Community Bank, Inc FDIC insured?

Yes. It is covered under FDIC Certificate #34102.

Why does Summit Community Bank, Inc pay such low interest on savings accounts?

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

Why are Summit Community Bank, Inc CD rates not competitive?

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

Is Summit Community Bank, Inc a commercial bank?

Yes

Where are Summit Community Bank, Inc locations?

See branch locations nearby.

Is Summit Community Bank, Inc open on Saturdays?

Is Summit Community Bank, Inc open on Sundays?

What time does Summit Community Bank, Inc open?

What time does Summit Community Bank, Inc close?

Are Summit Community Bank, Inc ATMs Open 24/7?

Do Summit Community Bank, Inc ATMs accept cash deposits?

Can Summit Community Bank, Inc customers use other ATMs?

Do Summit Community Bank, Inc branches have notaries?

Will Summit Community Bank, Inc notarize my document?

What address for Summit Community Bank, Inc should I put for incoming ACH transfers?

Will the Summit Community Bank, Inc branch print checks?

Do Summit Community Bank, Inc checks expire?

Does Summit Community Bank, Inc require US citizenship to open account?

Can Summit Community Bank, Inc close my account?

Does Summit Community Bank, Inc Report to credit bureaus?

Does Summit Community Bank, Inc Use Equifax?

What is Summit Community Bank, Inc's ACH Routing Number?

What is Summit Community Bank, Inc's SWIFT code?

Products

Does Summit Community Bank, Inc offer mortgages?

Compare mortgage rates here.

Does Summit Community Bank, Inc offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Summit Community Bank, Inc offer personal loans?

Compare personal loan rates here.

Does Summit Community Bank, Inc offer student loans?

Will Summit Community Bank, Inc cash a check?

Will Summit Community Bank, Inc redeem a savings bond?

Does Summit Community Bank, Inc cash savings bonds?

Will Summit Community Bank, Inc cash money orders?

Can Summit Community Bank, Inc issue a money order?

Does Summit Community Bank, Inc do currency exchange?

Background on The Bank

Who owns Summit Community Bank, Inc?

How long has Summit Community Bank, Inc been around?

Can Summit Community Bank, Inc transfer to other banks?

Does Summit Community Bank, Inc have quick pay?

Does Summit Community Bank, Inc accept rolled coins?

Will Summit Community Bank, Inc accept loose change?

Where is Summit Community Bank, Inc headquarters?

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