Woodruff Federal Savings and Loan Association

Headquarters

247 North Main Street
Woodruff, SC 29388
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.20% 1.40% →
1-Year CD 0.50% 1.15% →
2-Year CD 0.80% 1.26% →
5-Year CD N.A. 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

Woodruff Federal Savings and Loan Association is an FDIC insured institution located in Woodruff, SC. It was founded in 1934 and has approximately $0.1 billion in assets.

FDIC Insured Yes
FDIC Certificate # 29238
Date Established 1934
Assets $ 103.38 million
Loans $ 57.07 million
Deposits $ 69.53 million
Capital $ 32.29 million
 

For a more detailed analysis of Woodruff Federal Savings and Loan Association'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
SAV
0.20% $100 - Learn More
Savings
0.20% $2,500 $4,999 Learn More
Money Market
0.20% $2,500 - Learn More
CD Rates APY MIN MAX
6 Mo CD
0.25% $2,500 - Learn More
6 Mo CD
0.30% $10,000 $14,999 Learn More
6 Mo CD
0.30% $100,000 $199,999 Learn More
12 Mo CD
0.40% $1,000 - Learn More
12 Mo CD
0.50% $10,000 $14,999 Learn More
12 Mo CD
0.50% $100,000 $199,999 Learn More
18 Mo CD
0.55% $1,000 - Learn More
18 Mo CD
0.70% $10,000 $14,999 Learn More
18 Mo CD
0.70% $100,000 $199,999 Learn More
24 Mo CD
0.70% $1,000 - Learn More
24 Mo CD
0.80% $10,000 $14,999 Learn More
24 Mo CD
0.80% $100,000 $199,999 Learn More
36 Mo CD
0.90% $10,000 $14,999 Learn More
36 Mo CD
0.90% $100,000 $199,999 Learn More
48 Mo CD
1.00% $10,000 $14,999 Learn More
48 Mo CD
1.00% $100,000 $199,999 Learn More

Fixed IRA Rates APY MIN MAX
18 Mo FIRA
0.55% $1,000 - Learn MoreShow Less

Loan Rates - July 4, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Woodruff Federal Savings and Loan Association

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
Rocket Mortgage
NMLS ID: 3030
3.620% 3.500% 1.00 $3,750 $1,123 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

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

Note to Woodruff Federal Savings and Loan Association
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Branches

Woodruff Federal Savings and Loan Association 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


Woodruff Federal Savings and Loan Association Locations


Financial Details

Woodruff Federal Savings and Loan Association Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Woodruff Federal Savings and Loan Association. 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
Woodruff Federal Savings and Loan Association U.S. Bank Average
2.83% 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, Woodruff Federal Savings and Loan Association had $934,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $32,286,000 in equity and $689,000 in loans loss reserves. That gives it a Texas Ratio of 2.83%.

Return on Equity
Woodruff Federal Savings and Loan Association U.S. Bank Average
1.86% 9.41%

Woodruff Federal Savings and Loan Association has a Return on Equity of 1.86% 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
Woodruff Federal Savings and Loan Association U.S. Bank Average
31.23% 12.82%

Woodruff Federal Savings and Loan Association has a Capitalization of 31.23% 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.

Woodruff Federal Savings and Loan Association Balance Sheet Analysis

As of December 31, 2019, Woodruff Federal Savings and Loan Association had assets of $103,381,000, loans of $57,068,000, and deposits of $69,533,000. 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 $ 33.82 million
Interest-bearing balances $ 32.94 million
Total securities $ 2.97 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 57.07 million
Loan loss allowance $ 0.69 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 8.25 million
     Total Assets $ 71.10 million
LIABILITIES
Total deposits $ 69.53 million
      Interest-bearing deposits $ 69.53 million
      Deposits held in domestic offices $ 69.53 million
      % insured (estimated) 95.08%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 1.56 million
      Total Liabilities $ 71.10 million
      Shareholders’ Equity $ 32.29 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 3.16 million
Total Interest Expense $ 0.91 million
Net interest income $ 2.25 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.15 million
Total non interest expense $ 1.71 million
Pre-tax Net Operating Income $ 0.69 million

Bank Loan Profile?

The top three loan types in Woodruff Federal Savings and Loan Association’s loan portfolio are 1-4 Family Residential Loans, Multifamily Mortgages, and Construction and Development Loans.

Compared to other banks in South Carolina, Woodruff Federal Savings and Loan Association has a significantly higher percent of 1-4 Family Residential Loans, Multifamily Mortgages 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 79.80
Multifamily
Mortgages
11.50
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 1.52
Construction and Development Loans 5.17
Commercial Real Estate 4.74
Commercial and Industrial Loans 0.00
Farm Loans 0.00

Frequently Asked Questions About Woodruff Federal Savings And Loan Association

Branches and Savings

Is Woodruff Federal Savings And Loan Association FDIC insured?

Yes. It is covered under FDIC Certificate #29238.

Why does Woodruff Federal Savings And Loan Association pay such low interest on savings accounts?

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

Why are Woodruff Federal Savings And Loan Association CD rates not competitive?

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

Is Woodruff Federal Savings And Loan Association a commercial bank?

Yes

Where are Woodruff Federal Savings And Loan Association locations?

See branch locations nearby.

Is Woodruff Federal Savings And Loan Association open on Saturdays?

Is Woodruff Federal Savings And Loan Association open on Sundays?

What time does Woodruff Federal Savings And Loan Association open?

What time does Woodruff Federal Savings And Loan Association close?

Are Woodruff Federal Savings And Loan Association ATMs Open 24/7?

Do Woodruff Federal Savings And Loan Association ATMs accept cash deposits?

Can Woodruff Federal Savings And Loan Association customers use other ATMs?

Do Woodruff Federal Savings And Loan Association branches have notaries?

Will Woodruff Federal Savings And Loan Association notarize my document?

What address for Woodruff Federal Savings And Loan Association should I put for incoming ACH transfers?

Will the Woodruff Federal Savings And Loan Association branch print checks?

Do Woodruff Federal Savings And Loan Association checks expire?

Does Woodruff Federal Savings And Loan Association require US citizenship to open account?

Can Woodruff Federal Savings And Loan Association close my account?

Does Woodruff Federal Savings And Loan Association Report to credit bureaus?

Does Woodruff Federal Savings And Loan Association Use Equifax?

What is Woodruff Federal Savings And Loan Association's ACH Routing Number?

What is Woodruff Federal Savings And Loan Association's SWIFT code?

Products

Does Woodruff Federal Savings And Loan Association offer mortgages?

Compare mortgage rates here.

Does Woodruff Federal Savings And Loan Association offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Woodruff Federal Savings And Loan Association offer personal loans?

Compare personal loan rates here.

Does Woodruff Federal Savings And Loan Association offer student loans?

Will Woodruff Federal Savings And Loan Association cash a check?

Will Woodruff Federal Savings And Loan Association redeem a savings bond?

Does Woodruff Federal Savings And Loan Association cash savings bonds?

Will Woodruff Federal Savings And Loan Association cash money orders?

Can Woodruff Federal Savings And Loan Association issue a money order?

Does Woodruff Federal Savings And Loan Association do currency exchange?

Background on The Bank

Who owns Woodruff Federal Savings And Loan Association?

How long has Woodruff Federal Savings And Loan Association been around?

Can Woodruff Federal Savings And Loan Association transfer to other banks?

Does Woodruff Federal Savings And Loan Association have quick pay?

Does Woodruff Federal Savings And Loan Association accept rolled coins?

Will Woodruff Federal Savings And Loan Association accept loose change?

Where is Woodruff Federal Savings And Loan Association headquarters?

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