The Andover Bank

Headquarters

19 Public Square
Andover, OH 44003
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.03% 1.05% →
1-Year CD 0.15% 1.05% →
2-Year CD 0.20% 1.11% →
5-Year CD 0.60% 1.56% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

The Andover Bank is an FDIC insured institution located in Andover, OH. It was founded in 1884 and has approximately $0.45 billion in assets. Customers can open an account at one of its 13 branches.

FDIC Insured Yes
FDIC Certificate # 10663
Date Established 1884
Assets $ 446.48 million
Loans $ 226.37 million
Deposits $ 372.94 million
Capital $ 45.42 million
 

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.

Deposit Rates - August 12, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.03% $1 $9,999 Learn More
Money Market
0.01% $1 $9,999 Learn More
Money Market
0.03% $10,000 $24,999 Learn More
Money Market
0.05% $25,000 $49,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.05% $1,000 - Learn More
12 Mo CD
0.15% $1,000 - Learn More
18 Mo CD
0.15% $1,000 - Learn More
24 Mo CD
0.20% $1,000 - Learn More
30 Mo CD
0.20% $1,000 - Learn More
36 Mo CD
0.50% $1,000 - Learn More
48 Mo CD
0.50% $1,000 - Learn More
60 Mo CD
0.60% $1,000 - Learn More

Variable IRA Rates APY MIN MAX
Var IRA
0.02% $1 $999 Learn MoreShow Less

Loan Rates - August 12, 2020

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 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.914% 2.875% 0.50 $1,250 $1,038 Learn More
Rocket Mortgage
NMLS ID: 3030
3.494% 3.375% 1.00 $3,750 $1,106 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
PenFed Credit Union
PenFed Credit Union
3.750 %
$0 Learn More
More Info
Third Federal Savings and Loans
Third Federal Savings and Loans
2.990 %
$0 Learn More
More Info

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

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
2.59% 6.94%

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, 2020, The Andover Bank had $1,211,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $45,421,000 in equity and $1,317,000 in loans loss reserves. That gives it a Texas Ratio of 2.59%.

Return on Equity
The Andover Bank U.S. Bank Average
7.18% 7.80%

The Andover Bank has a Return on Equity of 7.18% versus the BestCashCow average of 7.80%. 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
10.17% 12.68%

The Andover Bank has a Capitalization of 10.17% versus the BestCashCow average of 12.68. 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 March 31, 2020, The Andover Bank had assets of $446,481,000, loans of $226,366,000, and deposits of $372,938,000. 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, 2020
ASSETS
Cash & Balances due from depository institutions $ 10.43 million
Interest-bearing balances $ 3.26 million
Total securities $ 185.38 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 226.37 million
Loan loss allowance $ 1.32 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 2.95 million
All other assets $ 13.02 million
     Total Assets $ 401.06 million
LIABILITIES
Total deposits $ 372.94 million
      Interest-bearing deposits $ 287.32 million
      Deposits held in domestic offices $ 372.94 million
      % insured (estimated) 83.79%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 24.40 million
Subordinated debt N.A.
All other liabilities $ 3.72 million
      Total Liabilities $ 401.06 million
      Shareholders’ Equity $ 45.42 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 3.40 million
Total Interest Expense $ 0.51 million
Net interest income $ 2.89 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.72 million
Total non interest expense $ 2.77 million
Pre-tax Net Operating Income $ 0.83 million

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 Consumer Auto 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 66.81
Multifamily
Mortgages
0.36
Credit Card Loans 0.00
Consumer Auto Loans 0.96
Small Business Loans 0.00
Construction and Development Loans 0.86
Commercial Real Estate 8.15
Commercial and Industrial Loans 0.57
Farm Loans 0.00

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?

Customer Reviews for The Andover Bank

There are currently no comments for The Andover Bank. Be the first to share your experience. Please provide comments that will help others.

Add Your Review

Rate it here →