2024 Overview
General Bank Information
Wayne Bank is an FDIC insured institution located in Honesdale, PA. It was founded in 1871 and has approximately $2.2 billion in assets. Customers can open an account at one of its 27 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 698 |
| Date Established | 1871 |
| Assets | $ 2.20 billion |
| Loans | $ 1,584.75 million |
| Deposits | $ 1,796.86 million |
| Capital | $ 180.51 million |
For a more detailed analysis of Wayne Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - April 20, 2024
Your Current Location: Ohio, OH 43085
Loan Rates - April 20, 2024
Your Current Location: Ohio, OH 43085
| Auto Loan Rates | APR | Rate | Monthly Payment | |
|---|---|---|---|---|
| 6 Year | 6.42% | 6.24% | $417.16 |
| Refinance Mortgage Rates | APR | Rate | Monthly Payment | |
|---|---|---|---|---|
| 10 Year Fixed Conforming See Amortization Table |
6.31% | 6.43% | $3,622.31 | |
| 15 Year Fixed Conforming See Amortization Table |
6.47% | 6.34% | $2,759.82 | |
| 20 Year Fixed Conforming See Amortization Table |
6.49% | 6.61% | $2,407.36 | |
| 30 Year Fixed Conforming See Amortization Table |
7.06% | 6.94% | $2,115.23 |
| Purchase Mortgage Rates | APR | Rate | Monthly Payment | |
|---|---|---|---|---|
| 10 Year Fixed Conforming See Amortization Table |
6.31% | 6.43% | $3,622.31 | |
| 15 Year Fixed Conforming See Amortization Table |
6.47% | 6.34% | $2,759.82 | |
| 20 Year Fixed Conforming See Amortization Table |
6.61% | 6.61% | $2,407.36 | |
| 30 Year Fixed Conforming See Amortization Table |
7.06% | 6.94% | $2,115.23 | |
Compare with 7.451% APR and 7.375% 30-Year Fixed RATE from Rocket Mortgage
See All Mortgage Rates |
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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
Wayne 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:
Columbus,Ohio
Climate Policy and Initiatives
Wayne Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.
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Financial Details
Wayne Bank Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Wayne 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
| Wayne Bank | U.S. Bank Average |
|---|---|
| 3.87% | 3.96% |
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, 2024, Wayne Bank had $7,621,000 in non-current loans and $97,000 in owned real estate. To cover these potential losses it had $180,508,000 in equity and $18,968,000 in loans loss reserves. That gives it a Texas Ratio of 3.87%.
Return on Equity
| Wayne Bank | U.S. Bank Average |
|---|---|
| 10.13% | 12.20% |
Wayne Bank has a Return on Equity of 10.13% versus the BestCashCow average of 12.20%. 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
| Wayne Bank | U.S. Bank Average |
|---|---|
| 8.2% | 10.76% |
Wayne Bank has a Capitalization of 8.2% versus the BestCashCow average of 10.76. 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.
Wayne Bank Balance Sheet Analysis
As of December 31, 2023, Wayne Bank had assets of $2,202,203,000, loans of $1,584,751,000, and deposits of $1,796,859,000. 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, 2024| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 66.12 million |
| Interest-bearing balances | $ 37.59 million |
| Total securities | $ 406.26 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 1,584.75 million |
| Loan loss allowance | $ 18.97 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | $ 0.10 million |
| Goodwill and other intangibles | $ 29.68 million |
| All other assets | $ 77.75 million |
| Total Assets | $ 2.02 billion |
| LIABILITIES | |
|---|---|
| Total deposits | $ 1,796.86 million |
| Interest-bearing deposits | $ 1,387.84 million |
| Deposits held in domestic offices | $ 1,796.86 million |
| % insured (estimated) | 64.38% |
| Federal funds purchased and repurchase agreements | $ 54.08 million |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 4.41 million |
| Subordinated debt | N.A. |
| All other liabilities | $ 18.03 million |
| Total Liabilities | $ 2.02 billion |
| Shareholders’ Equity | $ 180.51 million |
Summary Income Statement
December 31, 2024| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 95.54 million |
| Total Interest Expense | $ 33.47 million |
| Net interest income | $ 62.07 million |
| Provision for loan and lease losses | $ 5.55 million |
| Total non interest income | $ 8.16 million |
| Total non interest expense | $ 43.13 million |
| Pre-tax Net Operating Income | $ 17.70 million |
Bank Loan Profile?
The top three loan types in Wayne Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Small Business Loans.
Compared to other banks in Pennsylvania, Wayne Bank has a significantly higher percent of Consumer Auto Loans, 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 | 22.24 | ✓ | ||
| Multifamily Mortgages |
2.92 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 7.17 | ✓ | ||
| Small Business Loans | 12.19 | ✓ | ||
| Construction and Development Loans | 1.38 | ✓ | ||
| Commercial Real Estate | 33.08 | ✓ | ||
| Commercial and Industrial Loans | 9.18 | ✓ | ||
| Farm Loans | 2.28 | ✓ | ||
Customer Reviews for Wayne Bank
MoonShadows Farm
January 26, 2024 |
I have been with Wayne Bank for almost 3 years after moving all of my accounts from Hells Fargo.
Since then, I have had so many problems with depositing checks with my iPhone. (phone upgraded twice since I opened the account, so it is NOT the phone)
Sometimes the checks go through without a problem, but very often I get the message that “the endorsement could not be found” and I should retake. Sometimes I have to retake the pictures 12-20 times over the course of a few days before the check is accepted.
I generally use a dark background, and my endorsement stamp has 5 lines of VERY dark black ink, but the app still says it cannot “see” the endorsement. That is insane.
Sometimes I have to change to a neutral or white background to get the check to be accepted, but even that has not always worked, and I have had times when I received an email saying the check was rejected and I need to use a dark background.
Eventually, I wind up driving to the bank.
I have called customer service several times, and they always run through the same questions, but there is never any solution. They seem dumbfounded, which I believe they are.
Can you please give me suggestions or admit your system is screwed up.
I am about to change banks again over this issue.
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