United Bank

Headquarters

151 Asylum Street
Hartford, CT 06103
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.20% →
1-Year CD N.A. 1.10% →
2-Year CD N.A. 1.15% →
5-Year CD N.A. 1.56% →
30-Year Mortgage 4.20% 3.09% →
15-Year Mortgage 3.86% 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

United Bank is an FDIC insured institution located in Hartford, CT. It was founded in 1858 and has approximately $7.18 billion in assets. Customers can open an account at one of its 54 branches.

FDIC Insured Yes
FDIC Certificate # 18203
Date Established 1858
Assets $ 7.34 billion
Loans $ 5.65 billion
Deposits $ 5.69 billion
Capital $ 775.26 million
 

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

Deposit Rates - August 6, 2020

Your Current Location: Connecticut, CT 06828


Loan Rates - August 6, 2020

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

United 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


United Bank Locations


Financial Details

United Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of United 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
United Bank U.S. Bank Average
4.22% 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, United Bank had $34,118,000 in non-current loans and $898,000 in owned real estate. To cover these potential losses it had $775,262,000 in equity and $53,751,000 in loans loss reserves. That gives it a Texas Ratio of 4.22%.

Return on Equity
United Bank U.S. Bank Average
7.65% 7.80%

United Bank has a Return on Equity of 7.65% 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
United Bank U.S. Bank Average
10.56% 12.68%

United Bank has a Capitalization of 10.56% 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.

United Bank Balance Sheet Analysis

As of September 30, 2019, United Bank had assets of $7,184,258,000, loans of $5,650,451,000, and deposits of $5,687,109,000. 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 $ 102.34 million
Interest-bearing balances $ 35.61 million
Total securities $ 823.64 million
Federal funds sold and reverse repurchase $ 0.12 million
Net loans and leases $ 5.65 billion
Loan loss allowance $ 53.75 million
Trading account assets $ 36.41 million
Bank premises and fixed assets N.A.
Other real estate owned $ 0.90 million
Goodwill and other intangibles $ 133.64 million
All other assets $ 337.94 million
     Total Assets $ 6.41 billion
LIABILITIES
Total deposits $ 5.69 billion
      Interest-bearing deposits $ 4.83 billion
      Deposits held in domestic offices $ 5.69 billion
      % insured (estimated) 62.60%
Federal funds purchased and repurchase agreements $ 9.31 million
Trading liabilities $ 0.11 million
Other borrowed funds $ 553.81 million
Subordinated debt N.A.
All other liabilities $ 158.66 million
      Total Liabilities $ 6.41 billion
      Shareholders’ Equity $ 932.40 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 219.12 million
Total Interest Expense $ 75.12 million
Net interest income $ 144.01 million
Provision for loan and lease losses $ 6.55 million
Total non interest income $ 26.02 million
Total non interest expense $ 110.16 million
Pre-tax Net Operating Income $ 53.32 million

Bank Loan Profile?

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

Compared to other banks in Connecticut, United Bank has a significantly higher percent of Credit Card 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 33.97
Multifamily
Mortgages
7.06
Credit Card Loans 0.11
Consumer Auto Loans 0.48
Small Business Loans 4.19
Construction and Development Loans 2.29
Commercial Real Estate 32.97
Commercial and Industrial Loans 10.96
Farm Loans 0.00

Frequently Asked Questions About United Bank

Branches and Savings

Is United Bank FDIC insured?

Yes. It is covered under FDIC Certificate #18203.

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

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

Why are United Bank CD rates not competitive?

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

Is United Bank a commercial bank?

Yes

Where are United Bank locations?

See branch locations nearby.

Is United Bank open on Saturdays?

Is United Bank open on Sundays?

What time does United Bank open?

What time does United Bank close?

Are United Bank ATMs Open 24/7?

Do United Bank ATMs accept cash deposits?

Can United Bank customers use other ATMs?

Do United Bank branches have notaries?

Will United Bank notarize my document?

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

Will the United Bank branch print checks?

Do United Bank checks expire?

Does United Bank require US citizenship to open account?

Can United Bank close my account?

Does United Bank Report to credit bureaus?

Does United Bank Use Equifax?

What is United Bank's ACH Routing Number?

What is United Bank's SWIFT code?

Products

Does United Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does United Bank offer personal loans?

Compare personal loan rates here.

Does United Bank offer student loans?

Will United Bank cash a check?

Will United Bank redeem a savings bond?

Does United Bank cash savings bonds?

Will United Bank cash money orders?

Can United Bank issue a money order?

Does United Bank do currency exchange?

Background on The Bank

Who owns United Bank?

How long has United Bank been around?

Can United Bank transfer to other banks?

Does United Bank have quick pay?

Does United Bank accept rolled coins?

Will United Bank accept loose change?

Where is United Bank headquarters?

Customer Reviews for United Bank


  • May 29, 2018 |

    Online Savings Rates

    They were very condescending and rude when I asked them to change my rate to the new one. Will move back to GS Bank soon. Treatment is everything.

  • August 02, 2017

    Online Savings Rates

    very poor customer service. calling them every day for last six days to adjust my interest rate to new higher offering. They promise to call but never do

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