The National Iron Bank

195 Main Street
Salisbury, CT 06068

Notable Rates APY Vs.Others
Savings 0.02% 2.25% →
1-Year CD 0.15% 2.25% →
2-Year CD 0.25% 2.50% →
5-Year CD 1.25% 2.80% →
30-Year Mortgage 5.28% 3.31% →
15-Year Mortgage 4.30% 2.77% →
HELOC N.A. 4.00% →

2019 Overview

General Bank Information

The National Iron Bank is an FDIC insured institution located in Salisbury, CT. It was founded in 1847 and has approximately $0.13 billion in assets. Customers can open an account at one of its 4 branches.

FDIC Insured Yes
FDIC Certificate # 2496
Date Established 1847
Assets $0.13 billion
Loans $0.09 billion
Deposits $0.12 billion
Capital $0.01 billion
 

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

Deposit Rates - December 16, 2019

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.02% $5,000 $24,999 Learn MoreShow Less
Money Market
0.02% $25,000 - Learn MoreShow Less
Premium Money Market Account
0.50% $25,000 - Learn MoreShow Less
CD Rates APY MIN MAX
Special: 4 Mo CD
1.00% $1,000 - Learn MoreShow Less
6 Mo CD
0.10% $10,000 $99,999 Learn MoreShow Less
Special: 9 Mo CD
1.50% $1,000 - Learn MoreShow Less
12 Mo CD
0.15% $10,000 $99,999 Learn MoreShow Less
18 Mo CD
0.15% $10,000 $99,999 Learn MoreShow Less
24 Mo CD
0.25% $10,000 $99,999 Learn MoreShow Less
30 Mo CD
0.25% $10,000 $99,999 Learn MoreShow Less
36 Mo CD
0.50% $10,000 $99,999 Learn MoreShow Less
48 Mo CD
0.60% $10,000 $99,999 Learn MoreShow Less
60 Mo CD
1.25% $10,000 $99,999 Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.10% $500 - Learn MoreShow Less
Special: 9 Mo FIRA
1.50% $1,000 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.05% $500 - Learn MoreShow Less

Loan Rates - December 16, 2019

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment
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 National Iron 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 National Iron Bank Locations


Financial Details

The National Iron Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of The National Iron 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 National Iron Bank U.S. Bank Average
0.05% 6.77%

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 June 30, 2019, The National Iron Bank had $5,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $10,713,000 in equity and $390,000 in loans loss reserves. That gives it a Texas Ratio of 0.05%.

Return on Equity
The National Iron Bank U.S. Bank Average
8.62% 9.50%

The National Iron Bank has a Return on Equity of 8.62% versus the BestCashCow average of 9.50%. 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 National Iron Bank U.S. Bank Average
8.06% 12.76%

The National Iron Bank has a Capitalization of 8.06% versus the BestCashCow average of 12.76. 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 National Iron Bank Balance Sheet Analysis

As of June 30, 2019, The National Iron Bank had assets of $132,910,000, loans of $90,158,000, and deposits of $122,135,000. 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

June 30, 2019
ASSETS
Cash & Balances due from depository institutions $0.02 billion
Interest-bearing balances $0.02 billion
Total securities $0.02 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.09 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 $0.00 billion
     Total Assets $0.12 billion
LIABILITIES
Total deposits $0.12 billion
      Interest-bearing deposits $0.11 billion
      Deposits held in domestic offices $0.12 billion
      % insured (estimated) 82.48%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.00 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.12 billion
      Shareholders’ Equity $0.01 billion

Summary Income Statement

June 30, 2019
INCOME AND EXPENSES
Total Interest Income $0.00 billion
Total Interest Expense $0.00 billion
Net interest income $0.00 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.00 billion
Pre-tax Net Operating Income $0.00 billion

Bank Loan Profile?

The top three loan types in The National Iron Bank’s loan portfolio are 1-4 Family Residential Loans, Small Business Loans, and Commercial Real Estate.

Compared to other banks in Connecticut, The National Iron Bank has a significantly higher percent of 1-4 Family Residential Loans 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 84.92
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 7.39
Construction and Development Loans 5.76
Commercial Real Estate 7.39
Commercial and Industrial Loans 1.46
Farm Loans 0.00

Frequently Asked Questions About The National Iron Bank

Branches and Savings

Is The National Iron Bank FDIC insured?

Yes. It is covered under FDIC Certificate #2496.

Why does The National Iron 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 National Iron Bank CD rates not competitive?

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

Is The National Iron Bank a commercial bank?

Yes

Where are The National Iron Bank locations?

See branch locations nearby.

Is The National Iron Bank open on Saturdays?

Is The National Iron Bank open on Sundays?

What time does The National Iron Bank open?

What time does The National Iron Bank close?

Are The National Iron Bank ATMs Open 24/7?

Do The National Iron Bank ATMs accept cash deposits?

Can The National Iron Bank customers use other ATMs?

Do The National Iron Bank branches have notaries?

Will The National Iron Bank notarize my document?

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

Will the The National Iron Bank branch print checks?

Do The National Iron Bank checks expire?

Does The National Iron Bank require US citizenship to open account?

Can The National Iron Bank close my account?

Does The National Iron Bank Report to credit bureaus?

Does The National Iron Bank Use Equifax?

What is The National Iron Bank's ACH Routing Number?

What is The National Iron Bank's SWIFT code?

Products

Does The National Iron Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does The National Iron Bank offer personal loans?

Compare personal loan rates here.

Does The National Iron Bank offer student loans?

Will The National Iron Bank cash a check?

Will The National Iron Bank redeem a savings bond?

Does The National Iron Bank cash savings bonds?

Will The National Iron Bank cash money orders?

Can The National Iron Bank issue a money order?

Does The National Iron Bank do currency exchange?

Background on The Bank

Who owns The National Iron Bank?

How long has The National Iron Bank been around?

Can The National Iron Bank transfer to other banks?

Does The National Iron Bank have quick pay?

Does The National Iron Bank accept rolled coins?

Will The National Iron Bank accept loose change?

Where is The National Iron Bank headquarters?

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