The Simsbury Bank & Trust Company

Headquarters

981 Hopmeadow Street
Simsbury, CT 06070
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.66% →
1-Year CD N.A. 0.71% →
2-Year CD N.A. 0.81% →
5-Year CD N.A. 1.15% →
30-Year Mortgage 4.58% 2.72% →
15-Year Mortgage 4.27% 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

The Simsbury Bank & Trust Company is an FDIC insured institution located in Simsbury, CT. It was founded in 1995 and has approximately $0.53 billion in assets. Customers can open an account at one of its 6 branches.

FDIC Insured Yes
FDIC Certificate # 33999
Date Established 1995
Assets $ 480.91 million
Loans $ 366.61 million
Deposits $ 475.30 million
Capital $ 43.46 million
 

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

Deposit Rates - March 8, 2021

Your Current Location: Connecticut, CT 06828

 

Loan Rates - March 8, 2021

Your Current Location: Connecticut, CT 06828

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 Simsbury Bank & Trust Company 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:
Fairfield,Connecticut


The Simsbury Bank & Trust Company Locations


Financial Details

The Simsbury Bank & Trust Company Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of The Simsbury Bank & Trust Company. 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 Simsbury Bank & Trust Company U.S. Bank Average
7.75% 6.14%

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 September 30, 2020, The Simsbury Bank & Trust Company had $3,676,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $43,456,000 in equity and $3,954,000 in loans loss reserves. That gives it a Texas Ratio of 7.75%.

Return on Equity
The Simsbury Bank & Trust Company U.S. Bank Average
10.67% 9.23%

The Simsbury Bank & Trust Company has a Return on Equity of 10.67% versus the BestCashCow average of 9.23%. 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 Simsbury Bank & Trust Company U.S. Bank Average
9.04% 12.07%

The Simsbury Bank & Trust Company has a Capitalization of 9.04% versus the BestCashCow average of 12.07. 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 Simsbury Bank & Trust Company Balance Sheet Analysis

As of September 30, 2019, The Simsbury Bank & Trust Company had assets of $531,873,000, loans of $366,610,000, and deposits of $475,299,000. 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

September 30, 2020
ASSETS
Cash & Balances due from depository institutions $ 116.04 million
Interest-bearing balances $ 102.47 million
Total securities $ 26.25 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 366.61 million
Loan loss allowance $ 3.95 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 2.83 million
All other assets $ 18.87 million
     Total Assets $ 488.42 million
LIABILITIES
Total deposits $ 475.30 million
      Interest-bearing deposits $ 329.39 million
      Deposits held in domestic offices $ 475.30 million
      % insured (estimated) 64.85%
Federal funds purchased and repurchase agreements $ 1.61 million
Trading liabilities N.A.
Other borrowed funds $ 3.82 million
Subordinated debt N.A.
All other liabilities $ 7.69 million
      Total Liabilities $ 488.42 million
      Shareholders’ Equity N.A.

Summary Income Statement

September 30, 2020
INCOME AND EXPENSES
Total Interest Income $ 14.02 million
Total Interest Expense $ 1.62 million
Net interest income $ 12.39 million
Provision for loan and lease losses $ 0.29 million
Total non interest income $ 2.02 million
Total non interest expense $ 10.43 million
Pre-tax Net Operating Income $ 3.70 million

Bank Loan Profile?

The top three loan types in The Simsbury Bank & Trust Company’s loan portfolio are 1-4 Family Residential Loans, Commercial and Industrial Loans, and Commercial Real Estate.

Compared to other banks in Connecticut, The Simsbury Bank & Trust Company has a significantly higher percent of Farm 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 48.48
Multifamily
Mortgages
0.10
Credit Card Loans 0.00
Consumer Auto Loans 0.91
Small Business Loans 0.00
Construction and Development Loans 5.22
Commercial Real Estate 20.28
Commercial and Industrial Loans 22.26
Farm Loans 0.43

Frequently Asked Questions About The Simsbury Bank & Trust Company

Branches and Savings

Is The Simsbury Bank & Trust Company FDIC insured?

Yes. It is covered under FDIC Certificate #33999.

Why does The Simsbury Bank & Trust Company pay such low interest on savings accounts?

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

Why are The Simsbury Bank & Trust Company CD rates not competitive?

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

Is The Simsbury Bank & Trust Company a commercial bank?

Yes

Where are The Simsbury Bank & Trust Company locations?

See branch locations nearby.

Is The Simsbury Bank & Trust Company open on Saturdays?

Is The Simsbury Bank & Trust Company open on Sundays?

What time does The Simsbury Bank & Trust Company open?

What time does The Simsbury Bank & Trust Company close?

Are The Simsbury Bank & Trust Company ATMs Open 24/7?

Do The Simsbury Bank & Trust Company ATMs accept cash deposits?

Can The Simsbury Bank & Trust Company customers use other ATMs?

Do The Simsbury Bank & Trust Company branches have notaries?

Will The Simsbury Bank & Trust Company notarize my document?

What address for The Simsbury Bank & Trust Company should I put for incoming ACH transfers?

Will the The Simsbury Bank & Trust Company branch print checks?

Do The Simsbury Bank & Trust Company checks expire?

Does The Simsbury Bank & Trust Company require US citizenship to open account?

Can The Simsbury Bank & Trust Company close my account?

Does The Simsbury Bank & Trust Company Report to credit bureaus?

Does The Simsbury Bank & Trust Company Use Equifax?

What is The Simsbury Bank & Trust Company's ACH Routing Number?

What is The Simsbury Bank & Trust Company's SWIFT code?

Products

Does The Simsbury Bank & Trust Company offer mortgages?

Compare mortgage rates here.

Does The Simsbury Bank & Trust Company offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does The Simsbury Bank & Trust Company offer personal loans?

Compare personal loan rates here.

Does The Simsbury Bank & Trust Company offer student loans?

Will The Simsbury Bank & Trust Company cash a check?

Will The Simsbury Bank & Trust Company redeem a savings bond?

Does The Simsbury Bank & Trust Company cash savings bonds?

Will The Simsbury Bank & Trust Company cash money orders?

Can The Simsbury Bank & Trust Company issue a money order?

Does The Simsbury Bank & Trust Company do currency exchange?

Background on The Bank

Who owns The Simsbury Bank & Trust Company?

How long has The Simsbury Bank & Trust Company been around?

Can The Simsbury Bank & Trust Company transfer to other banks?

Does The Simsbury Bank & Trust Company have quick pay?

Does The Simsbury Bank & Trust Company accept rolled coins?

Will The Simsbury Bank & Trust Company accept loose change?

Where is The Simsbury Bank & Trust Company headquarters?

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