The Citizens National Bank of Somerset

Headquarters

44 Public Square
Somerset, KY 42501
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 1.40% →
1-Year CD 0.15% 1.15% →
2-Year CD 0.20% 1.26% →
5-Year CD N.A. 1.56% →
30-Year Mortgage 3.78% 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

The Citizens National Bank of Somerset is an FDIC insured institution located in Somerset, KY. It was founded in 1919 and has approximately $0.46 billion in assets. Customers can open an account at one of its 11 branches.

FDIC Insured Yes
FDIC Certificate # 2725
Date Established 1919
Assets $ 462.25 million
Loans $ 250.61 million
Deposits $ 366.11 million
Capital $ 48.18 million
 

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

Deposit Rates - July 12, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.10% $25 - Learn More
Money Market
0.05% $500 $49,999 Learn More
Premium Money Market Account
0.05% $25,000 - Learn More
CD Rates APY MIN MAX
3 Mo CD
0.05% $1,000 - Learn More
6 Mo CD
0.10% $1,000 - Learn More
12 Mo CD
0.15% $1,000 - Learn More
18 Mo CD
0.20% $1,000 - Learn More
24 Mo CD
0.20% $1,000 - Learn More
30 Mo CD
0.30% $1,000 - Learn More
36 Mo CD
0.50% $5,000 - Learn More

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.25% $2,000 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.25% $40 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $500 - Learn MoreShow Less

Loan Rates - July 12, 2020

Your Current Location: Virginia, VA 20146

Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage 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

The Citizens National Bank of Somerset 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 Citizens National Bank of Somerset Locations


Financial Details

The Citizens National Bank of Somerset Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of The Citizens National Bank of Somerset. 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 Citizens National Bank of Somerset U.S. Bank Average
10.03% 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 Citizens National Bank of Somerset had $1,947,000 in non-current loans and $3,210,000 in owned real estate. To cover these potential losses it had $48,184,000 in equity and $3,239,000 in loans loss reserves. That gives it a Texas Ratio of 10.03%.

Return on Equity
The Citizens National Bank of Somerset U.S. Bank Average
13.36% 7.80%

The Citizens National Bank of Somerset has a Return on Equity of 13.36% 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 Citizens National Bank of Somerset U.S. Bank Average
10.42% 12.68%

The Citizens National Bank of Somerset has a Capitalization of 10.42% 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 Citizens National Bank of Somerset Balance Sheet Analysis

As of March 31, 2020, The Citizens National Bank of Somerset had assets of $462,251,000, loans of $250,607,000, and deposits of $366,108,000. 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 $ 29.87 million
Interest-bearing balances $ 23.04 million
Total securities $ 165.70 million
Federal funds sold and reverse repurchase $ 2.05 million
Net loans and leases $ 250.61 million
Loan loss allowance $ 3.24 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 3.21 million
Goodwill and other intangibles N.A.
All other assets $ 4.07 million
     Total Assets $ 414.07 million
LIABILITIES
Total deposits $ 366.11 million
      Interest-bearing deposits $ 238.34 million
      Deposits held in domestic offices $ 366.11 million
      % insured (estimated) 79.67%
Federal funds purchased and repurchase agreements $ 46.66 million
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 1.30 million
      Total Liabilities $ 414.07 million
      Shareholders’ Equity $ 48.18 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 4.53 million
Total Interest Expense $ 0.69 million
Net interest income $ 3.85 million
Provision for loan and lease losses $ 0.11 million
Total non interest income $ 1.05 million
Total non interest expense $ 3.28 million
Pre-tax Net Operating Income $ 1.52 million

Bank Loan Profile?

The top three loan types in The Citizens National Bank of Somerset’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Construction and Development Loans.

Compared to other banks, The Citizens National Bank of Somerset’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 41.74
Multifamily
Mortgages
4.30
Credit Card Loans 0.00
Consumer Auto Loans 3.37
Small Business Loans 0.00
Construction and Development Loans 9.39
Commercial Real Estate 27.03
Commercial and Industrial Loans 5.42
Farm Loans 0.31

Frequently Asked Questions About The Citizens National Bank Of Somerset

Branches and Savings

Is The Citizens National Bank Of Somerset FDIC insured?

Yes. It is covered under FDIC Certificate #2725.

Why does The Citizens National Bank Of Somerset pay such low interest on savings accounts?

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

Why are The Citizens National Bank Of Somerset CD rates not competitive?

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

Is The Citizens National Bank Of Somerset a commercial bank?

Yes

Where are The Citizens National Bank Of Somerset locations?

See branch locations nearby.

Is The Citizens National Bank Of Somerset open on Saturdays?

Is The Citizens National Bank Of Somerset open on Sundays?

What time does The Citizens National Bank Of Somerset open?

What time does The Citizens National Bank Of Somerset close?

Are The Citizens National Bank Of Somerset ATMs Open 24/7?

Do The Citizens National Bank Of Somerset ATMs accept cash deposits?

Can The Citizens National Bank Of Somerset customers use other ATMs?

Do The Citizens National Bank Of Somerset branches have notaries?

Will The Citizens National Bank Of Somerset notarize my document?

What address for The Citizens National Bank Of Somerset should I put for incoming ACH transfers?

Will the The Citizens National Bank Of Somerset branch print checks?

Do The Citizens National Bank Of Somerset checks expire?

Does The Citizens National Bank Of Somerset require US citizenship to open account?

Can The Citizens National Bank Of Somerset close my account?

Does The Citizens National Bank Of Somerset Report to credit bureaus?

Does The Citizens National Bank Of Somerset Use Equifax?

What is The Citizens National Bank Of Somerset's ACH Routing Number?

What is The Citizens National Bank Of Somerset's SWIFT code?

Products

Does The Citizens National Bank Of Somerset offer mortgages?

Compare mortgage rates here.

Does The Citizens National Bank Of Somerset offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does The Citizens National Bank Of Somerset offer personal loans?

Compare personal loan rates here.

Does The Citizens National Bank Of Somerset offer student loans?

Will The Citizens National Bank Of Somerset cash a check?

Will The Citizens National Bank Of Somerset redeem a savings bond?

Does The Citizens National Bank Of Somerset cash savings bonds?

Will The Citizens National Bank Of Somerset cash money orders?

Can The Citizens National Bank Of Somerset issue a money order?

Does The Citizens National Bank Of Somerset do currency exchange?

Background on The Bank

Who owns The Citizens National Bank Of Somerset?

How long has The Citizens National Bank Of Somerset been around?

Can The Citizens National Bank Of Somerset transfer to other banks?

Does The Citizens National Bank Of Somerset have quick pay?

Does The Citizens National Bank Of Somerset accept rolled coins?

Will The Citizens National Bank Of Somerset accept loose change?

Where is The Citizens National Bank Of Somerset headquarters?

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