The First National Bank of Sparta

Headquarters

Broadway And Market Streets
Sparta, IL 62286
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.15% 1.20% →
1-Year CD 0.50% 1.10% →
2-Year CD 0.75% 1.15% →
5-Year CD 1.05% 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 First National Bank of Sparta is an FDIC insured institution located in Sparta, IL. It was founded in 1885 and has approximately $0.08 billion in assets.

FDIC Insured Yes
FDIC Certificate # 3837
Date Established 1885
Assets $ 81.17 million
Loans $ 39.62 million
Deposits $ 66.00 million
Capital $ 11.00 million
 

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

Deposit Rates - August 4, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.15% $2,500 $4,999 Learn More
Money Market
0.15% $2,500 $2,999 Learn More
Money Market
0.15% $10,000 $14,999 Learn More
Money Market
0.15% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.20% $10,000 $14,999 Learn More
3 Mo CD
0.20% $100,000 $199,999 Learn More
6 Mo CD
0.20% $10,000 $14,999 Learn More
6 Mo CD
0.20% $100,000 $199,999 Learn More
12 Mo CD
0.50% $10,000 $14,999 Learn More
12 Mo CD
0.50% $100,000 $199,999 Learn More
18 Mo CD
0.60% $10,000 $14,999 Learn More
18 Mo CD
0.60% $100,000 $199,999 Learn More
24 Mo CD
0.75% $10,000 $14,999 Learn More
24 Mo CD
0.75% $100,000 $199,999 Learn More
30 Mo CD
0.80% $10,000 $14,999 Learn More
30 Mo CD
0.80% $100,000 $199,999 Learn More
36 Mo CD
0.85% $10,000 $14,999 Learn More
36 Mo CD
0.85% $100,000 $199,999 Learn More
48 Mo CD
0.95% $10,000 $14,999 Learn More
48 Mo CD
0.95% $100,000 $199,999 Learn More
60 Mo CD
1.05% $10,000 $14,999 Learn More
60 Mo CD
1.05% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.05% $2,500 $3,499 Learn MoreShow Less

Loan Rates - August 4, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for The First National Bank of Sparta

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
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.930% 2.875% 0.75 $1,762 $1,038 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

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

Note to The First National Bank of Sparta
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Branches

The First National Bank of Sparta 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 First National Bank of Sparta Locations


Financial Details

The First National Bank of Sparta Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of The First National Bank of Sparta. 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 First National Bank of Sparta U.S. Bank Average
1.99% 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 First National Bank of Sparta had $230,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $10,998,000 in equity and $537,000 in loans loss reserves. That gives it a Texas Ratio of 1.99%.

Return on Equity
The First National Bank of Sparta U.S. Bank Average
15.15% 7.80%

The First National Bank of Sparta has a Return on Equity of 15.15% 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 First National Bank of Sparta U.S. Bank Average
13.55% 12.68%

The First National Bank of Sparta has a Capitalization of 13.55% 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 First National Bank of Sparta Balance Sheet Analysis

As of March 31, 2020, The First National Bank of Sparta had assets of $81,168,000, loans of $39,618,000, and deposits of $66,004,000. 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 $ 8.04 million
Interest-bearing balances $ 5.52 million
Total securities $ 28.21 million
Federal funds sold and reverse repurchase $ 0.99 million
Net loans and leases $ 39.62 million
Loan loss allowance $ 0.54 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 3.31 million
     Total Assets $ 70.17 million
LIABILITIES
Total deposits $ 66.00 million
      Interest-bearing deposits $ 54.65 million
      Deposits held in domestic offices $ 66.00 million
      % insured (estimated) 78.27%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 3.06 million
Subordinated debt N.A.
All other liabilities $ 1.10 million
      Total Liabilities $ 70.17 million
      Shareholders’ Equity $ 11.00 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 0.90 million
Total Interest Expense $ 0.06 million
Net interest income $ 0.83 million
Provision for loan and lease losses $ 0.01 million
Total non interest income $ 0.26 million
Total non interest expense $ 0.66 million
Pre-tax Net Operating Income $ 0.42 million

Bank Loan Profile?

The top three loan types in The First National Bank of Sparta’s loan portfolio are 1-4 Family Residential Loans, Commercial and Industrial Loans, and Consumer Auto Loans.

Compared to other banks, The First National Bank of Sparta’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 46.51
Multifamily
Mortgages
3.20
Credit Card Loans 0.00
Consumer Auto Loans 9.30
Small Business Loans 0.00
Construction and Development Loans 0.00
Commercial Real Estate 5.06
Commercial and Industrial Loans 19.39
Farm Loans 1.28

Frequently Asked Questions About The First National Bank Of Sparta

Branches and Savings

Is The First National Bank Of Sparta FDIC insured?

Yes. It is covered under FDIC Certificate #3837.

Why does The First National Bank Of Sparta pay such low interest on savings accounts?

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

Why are The First National Bank Of Sparta CD rates not competitive?

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

Is The First National Bank Of Sparta a commercial bank?

Yes

Where are The First National Bank Of Sparta locations?

See branch locations nearby.

Is The First National Bank Of Sparta open on Saturdays?

Is The First National Bank Of Sparta open on Sundays?

What time does The First National Bank Of Sparta open?

What time does The First National Bank Of Sparta close?

Are The First National Bank Of Sparta ATMs Open 24/7?

Do The First National Bank Of Sparta ATMs accept cash deposits?

Can The First National Bank Of Sparta customers use other ATMs?

Do The First National Bank Of Sparta branches have notaries?

Will The First National Bank Of Sparta notarize my document?

What address for The First National Bank Of Sparta should I put for incoming ACH transfers?

Will the The First National Bank Of Sparta branch print checks?

Do The First National Bank Of Sparta checks expire?

Does The First National Bank Of Sparta require US citizenship to open account?

Can The First National Bank Of Sparta close my account?

Does The First National Bank Of Sparta Report to credit bureaus?

Does The First National Bank Of Sparta Use Equifax?

What is The First National Bank Of Sparta's ACH Routing Number?

What is The First National Bank Of Sparta's SWIFT code?

Products

Does The First National Bank Of Sparta offer mortgages?

Compare mortgage rates here.

Does The First National Bank Of Sparta offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does The First National Bank Of Sparta offer personal loans?

Compare personal loan rates here.

Does The First National Bank Of Sparta offer student loans?

Will The First National Bank Of Sparta cash a check?

Will The First National Bank Of Sparta redeem a savings bond?

Does The First National Bank Of Sparta cash savings bonds?

Will The First National Bank Of Sparta cash money orders?

Can The First National Bank Of Sparta issue a money order?

Does The First National Bank Of Sparta do currency exchange?

Background on The Bank

Who owns The First National Bank Of Sparta?

How long has The First National Bank Of Sparta been around?

Can The First National Bank Of Sparta transfer to other banks?

Does The First National Bank Of Sparta have quick pay?

Does The First National Bank Of Sparta accept rolled coins?

Will The First National Bank Of Sparta accept loose change?

Where is The First National Bank Of Sparta headquarters?

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