The Andover Bank

19 Public Square
Andover, OH 44003

 

2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 10663
Date Established 1884
Assets $0.40 billion
Loans $0.20 billion
Deposits $0.33 billion
Capital $0.04 billion

The Andover Bank is an FDIC insured institution located in Andover, OH. It was founded in 1884 and has approximately $0.4 billion in assets. Customers can open an account at one of its 13 branches.

For a more detailed analysis of The Andover Bank'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 The Andover Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Small Business Loans.

Compared to other banks, The Andover Bank’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 68.46
Multifamily
Mortgages
0.46
Credit Card Loans 0.00
Consumer Auto Loans 0.94
Small Business Loans 7.20
Construction and Development Loans 0.99
Commercial Real Estate 12.03
Commercial and Industrial Loans 0.83
Farm Loans 0.00

Deposit Rates - June 25, 2019

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.05% $1 $9,999 Learn MoreShow Less
Money Market
0.10% $10,000 $24,999 Learn MoreShow Less
Money Market
0.15% $25,000 $49,999 Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
0.10% $1,000 - Learn MoreShow Less
Special: 9 Mo CD
2.00% $1,000 $9,999 Learn MoreShow Less
Special: 9 Mo CD
2.20% $10,000 - Learn MoreShow Less
12 Mo CD
0.20% $1,000 - Learn MoreShow Less
Special: 15 Mo CD
1.25% $1,000 $250,000 Learn MoreShow Less
Special: 17 Mo CD
2.10% $1,000 $9,999 Learn MoreShow Less
Special: 17 Mo CD
2.30% $10,000 - Learn MoreShow Less
18 Mo CD
0.25% $1,000 - Learn MoreShow Less
24 Mo CD
0.30% $1,000 - Learn MoreShow Less
Special: 25 Mo CD
1.25% $1,000 $250,000 Learn MoreShow Less
30 Mo CD
0.35% $1,000 - Learn MoreShow Less
36 Mo CD
0.40% $1,000 - Learn MoreShow Less
48 Mo CD
0.60% $1,000 - Learn MoreShow Less
60 Mo CD
1.00% $1,000 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.35% $1,000 - Learn MoreShow Less
Special: 9 Mo FIRA
2.00% $1,000 $9,999 Learn MoreShow Less
Special: 9 Mo FIRA
2.20% $10,000 - Learn MoreShow Less
Special: 15 Mo FIRA
1.25% $1,000 $250,000 Learn MoreShow Less
Special: 17 Mo FIRA
2.10% $1,000 $9,999 Learn MoreShow Less
Special: 17 Mo FIRA
2.30% $10,000 - Learn MoreShow Less
Special: 25 Mo FIRA
1.25% $1,000 $250,000 Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.05% $1 $999 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.03% $1 - Learn MoreShow Less

Loan Rates - June 25, 2019

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for The Andover Bank

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
Triangle Lending Group, Inc.
NMLS ID: 64446
License#: MC-5531
3.375% 3.375% -0.13 ($312) $1,106 Learn More
Rocket Mortgage
NMLS ID: 3030
4.500% 4.500% 0.00 $0 $1,267 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2019

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

Note to The Andover Bank
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Branches

The Andover 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:
Ashburn,Virginia


The Andover Bank Locations


Financial Details

The Andover Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of The Andover 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
The Andover Bank U.S. Bank Average
2.08% 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, The Andover Bank had $825,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $38,237,000 in equity and $1,342,000 in loans loss reserves. That gives it a Texas Ratio of 2.08%.

Return on Equity
The Andover Bank U.S. Bank Average
10.13% 8.80%

The Andover Bank has a Return on Equity of 10.13% 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
The Andover Bank U.S. Bank Average
9.65% 12.29%

The Andover Bank has a Capitalization of 9.65% 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.

The Andover Bank Balance Sheet Analysis

As of December 31, 2018, The Andover Bank had assets of $396,389,000, loans of $203,204,000, and deposits of $327,742,000. 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 $0.01 billion
Interest-bearing balances $0.00 billion
Total securities $0.16 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.20 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 $0.01 billion
     Total Assets $0.36 billion
LIABILITIES
Total deposits $0.33 billion
      Interest-bearing deposits $0.25 billion
      Deposits held in domestic offices $0.33 billion
      % insured (estimated) 87.60%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.03 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.36 billion
      Shareholders’ Equity $0.04 billion

Summary Income Statement

December 31, 2018
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 $0.01 billion
Pre-tax Net Operating Income $0.00 billion

Frequently Asked Questions About The Andover Bank

Branches and Savings

Is The Andover Bank FDIC insured?

Yes. It is covered under FDIC Certificate #10663.

Why does The Andover Bank pay such low interest on savings accounts?

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

Why are The Andover Bank CD rates not competitive?

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

Is The Andover Bank a commercial bank?

Yes

Where are The Andover Bank locations?

See branch locations nearby.

Is The Andover Bank open on Saturdays?

Is The Andover Bank open on Sundays?

What time does The Andover Bank open?

What time does The Andover Bank close?

Are The Andover Bank ATMs Open 24/7?

Do The Andover Bank ATMs accept cash deposits?

Can The Andover Bank customers use other ATMs?

Do The Andover Bank branches have notaries?

Will The Andover Bank notarize my document?

What address for The Andover Bank should I put for incoming ACH transfers?

Will the The Andover Bank branch print checks?

Do The Andover Bank checks expire?

Does The Andover Bank require US citizenship to open account?

Can The Andover Bank close my account?

Does The Andover Bank Report to credit bureaus?

Does The Andover Bank Use Equifax?

What is The Andover Bank's ACH Routing Number?

What is The Andover Bank's SWIFT code?

Products

Does The Andover Bank offer mortgages?

Compare mortgage rates here.

Does The Andover Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does The Andover Bank offer personal loans?

Compare personal loan rates here.

Does The Andover Bank offer student loans?

Will The Andover Bank cash a check?

Will The Andover Bank redeem a savings bond?

Does The Andover Bank cash savings bonds?

Will The Andover Bank cash money orders?

Can The Andover Bank issue a money order?

Does The Andover Bank do currency exchange?

Background on The Bank

Who owns The Andover Bank?

How long has The Andover Bank been around?

Can The Andover Bank transfer to other banks?

Does The Andover Bank have quick pay?

Does The Andover Bank accept rolled coins?

Will The Andover Bank accept loose change?

Where is The Andover Bank headquarters?

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