TruPoint Bank

Headquarters

20089 Riverside Drive
Grundy, VA 24614
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 1.40% →
1-Year CD 0.25% 1.15% →
2-Year CD 0.30% 1.26% →
5-Year CD 0.65% 1.60% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

TruPoint Bank is an FDIC insured institution located in Grundy, VA. It was founded in 1975 and has approximately $0.46 billion in assets. Customers can open an account at one of its 13 branches.

FDIC Insured Yes
FDIC Certificate # 21883
Date Established 1975
Assets $ 458.21 million
Loans $ 307.73 million
Deposits $ 389.22 million
Capital $ 45.62 million
 

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

Deposit Rates - July 4, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.10% $1 - Learn More
Money Market
0.10% $25,000 $99,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.10% $1,000 - Learn More
6 Mo CD
0.15% $1,000 - Learn More
12 Mo CD
0.25% $1,000 - Learn More
18 Mo CD
0.25% $1,000 - Learn More
24 Mo CD
0.30% $1,000 - Learn More
30 Mo CD
0.30% $1,000 - Learn More
36 Mo CD
0.40% $1,000 - Learn More
48 Mo CD
0.50% $1,000 - Learn More
60 Mo CD
0.65% $1,000 - Learn More

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.25% $100 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $1,000 $24,999 Learn MoreShow Less

Loan Rates - July 4, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for TruPoint Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Connecticut 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
3.039% 3.000% 0.50 $1,250 $1,055 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
People's United Bank, N.A.
People's United Bank, N.A.
4.000 %
$0 Learn More
More Info
PenFed Credit Union
PenFed Credit Union
3.750 %
$0 Learn More
More Info

Note to TruPoint Bank
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Branches

TruPoint 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:
Fairfield,Connecticut


TruPoint Bank Locations


Financial Details

TruPoint Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of TruPoint 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
TruPoint Bank U.S. Bank Average
2.46% 6.51%

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 December 31, 2019, TruPoint Bank had $1,017,000 in non-current loans and $170,000 in owned real estate. To cover these potential losses it had $45,616,000 in equity and $2,648,000 in loans loss reserves. That gives it a Texas Ratio of 2.46%.

Return on Equity
TruPoint Bank U.S. Bank Average
9.03% 9.41%

TruPoint Bank has a Return on Equity of 9.03% versus the BestCashCow average of 9.41%. 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
TruPoint Bank U.S. Bank Average
9.96% 12.82%

TruPoint Bank has a Capitalization of 9.96% versus the BestCashCow average of 12.82. 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.

TruPoint Bank Balance Sheet Analysis

As of December 31, 2019, TruPoint Bank had assets of $458,211,000, loans of $307,734,000, and deposits of $389,220,000. 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

December 31, 2019
ASSETS
Cash & Balances due from depository institutions $ 44.78 million
Interest-bearing balances $ 40.42 million
Total securities $ 75.87 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 307.73 million
Loan loss allowance $ 2.65 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.17 million
Goodwill and other intangibles N.A.
All other assets $ 19.33 million
     Total Assets $ 412.60 million
LIABILITIES
Total deposits $ 389.22 million
      Interest-bearing deposits $ 297.09 million
      Deposits held in domestic offices $ 389.22 million
      % insured (estimated) 76.90%
Federal funds purchased and repurchase agreements $ 4.89 million
Trading liabilities N.A.
Other borrowed funds $ 15.00 million
Subordinated debt N.A.
All other liabilities $ 3.48 million
      Total Liabilities $ 412.60 million
      Shareholders’ Equity $ 45.62 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 16.67 million
Total Interest Expense $ 1.98 million
Net interest income $ 14.68 million
Provision for loan and lease losses $ 0.27 million
Total non interest income $ 3.65 million
Total non interest expense $ 13.32 million
Pre-tax Net Operating Income $ 4.74 million

Bank Loan Profile?

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

Compared to other banks in Virginia, TruPoint Bank has a significantly higher percent of Commercial and Industrial 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 27.73
Multifamily
Mortgages
6.63
Credit Card Loans 0.00
Consumer Auto Loans 0.94
Small Business Loans 14.70
Construction and Development Loans 1.83
Commercial Real Estate 33.53
Commercial and Industrial Loans 23.68
Farm Loans 0.00

Frequently Asked Questions About Trupoint Bank

Branches and Savings

Is Trupoint Bank FDIC insured?

Yes. It is covered under FDIC Certificate #21883.

Why does Trupoint Bank pay such low interest on savings accounts?

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

Why are Trupoint Bank CD rates not competitive?

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

Is Trupoint Bank a commercial bank?

Yes

Where are Trupoint Bank locations?

See branch locations nearby.

Is Trupoint Bank open on Saturdays?

Is Trupoint Bank open on Sundays?

What time does Trupoint Bank open?

What time does Trupoint Bank close?

Are Trupoint Bank ATMs Open 24/7?

Do Trupoint Bank ATMs accept cash deposits?

Can Trupoint Bank customers use other ATMs?

Do Trupoint Bank branches have notaries?

Will Trupoint Bank notarize my document?

What address for Trupoint Bank should I put for incoming ACH transfers?

Will the Trupoint Bank branch print checks?

Do Trupoint Bank checks expire?

Does Trupoint Bank require US citizenship to open account?

Can Trupoint Bank close my account?

Does Trupoint Bank Report to credit bureaus?

Does Trupoint Bank Use Equifax?

What is Trupoint Bank's ACH Routing Number?

What is Trupoint Bank's SWIFT code?

Products

Does Trupoint Bank offer mortgages?

Compare mortgage rates here.

Does Trupoint Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Trupoint Bank offer personal loans?

Compare personal loan rates here.

Does Trupoint Bank offer student loans?

Will Trupoint Bank cash a check?

Will Trupoint Bank redeem a savings bond?

Does Trupoint Bank cash savings bonds?

Will Trupoint Bank cash money orders?

Can Trupoint Bank issue a money order?

Does Trupoint Bank do currency exchange?

Background on The Bank

Who owns Trupoint Bank?

How long has Trupoint Bank been around?

Can Trupoint Bank transfer to other banks?

Does Trupoint Bank have quick pay?

Does Trupoint Bank accept rolled coins?

Will Trupoint Bank accept loose change?

Where is Trupoint Bank headquarters?

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