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Reviews (3)

Stay Away From This Bank, Especially With A Mortgage

I was stupid to take the advice of a family member when signing onto a mortgage with Anchor Bank. I wrote a check out for .91 cents less than what our mortgage payment was and I was getting collection calls and received a notice of default in the mail.

When I finally called about the rediculous charges to my account, over $80 worth of charges for a check written only .91 cents short of the actual amount, I decided it was time to look elsewhere.

In addition to this, they said my account was $1.82 short of the mortgage payment, which was not true. If the representative would have done the math they would have found that .91 + .91 equals $1.82 and somewhere there was a double charge.

Even more frustrating is the sent me a delinquincy notice and my payment was not even applied to my mortgage, it was put into a reserve fund because they said my payment was more than $1 short (yes ONE DOLLAR) and it was their double charge error that caused this in the first place. Therefore, my credit rating suffered over all of this.

The biggest kicker, I have never missed a mortgage payment and had pristine credit when I signed the mortgage papers. I will be refinancing my home and taking my business to another bank, soon and very very soon.

No Help In Forclosure.

I was placed in foreclosure four a $400 past due tax bill. Because it had gotten to this stage the total mortgage was due in full. I couldn't refinance because of the foreclosure on my credit so they got the house and made $54200 on the sale. They are snakes! Do not get any loans from them unless you are prepared to loose them to the Bank because they will screw you!

Stay Away!

So many other banks to choose from.



Health

Data for Q4 2013

Institution Health

C+

Texas Ratio

GRADE:
C-

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 AnchorBank had $142.97 million in non-current loans and owned real-estate with $261.65 million in equity and loan loss allowances on hand to cover it. This gives AnchorBank a Texas Ratio of 54.64% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for AnchorBank decreased dramatically from 132.77% as of December 31, 2012 to 54.64% as of December 31, 2013, resulting in a positive change of 58.85%.This indicates that the balance sheet and financial strength for AnchorBank has improved dramatically in recent periods.

Deposit Growth

GRADE:
D

In the past year, AnchorBank has decreased its total deposits by -$180.35 million, resulting in -8.75% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth AnchorBank has shown is below average.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. AnchorBank has $2.11 billion in assets with $261.65 million in equity, resulting in a capitalization level of 12.39%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #29979
Year Established1918
Employees693
Primary RegulatorOCC
Assets and Liabilities
Assets$2.11 billion
Loans$1.55 billion
Deposits$1.88 billion
Equity Capital$196.47 million
Loan Loss Allowance$65.18 million
Unbacked Noncurrent Loans$79.51 million
Real Estate Owned$63.46 million
Historic Data - December 2012
Assets$2.41 billion
Equity Capital$121.28 million
Loan Loss Allowance$83.76 million
Unbacked Noncurrent Loans$79.51 million
Real Estate Owned$90.00 million
Profit Margin - Quarterly
Net Interest Margin3.57%
Return on Assets0.19%
Return on Equity3.01%
Interest Income$84.39 million
Rates

Always verify rates and promotions with the bank or credit union. We are not AnchorBank, we are a rate comparison website and can not provide official rates or promotions.

AnchorBank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.20%$10k-Heath Savings Account
0.10%$100-Regular Savings
0.10%$100-Savings IRA
0.10%$1k-Business Statement Savings
0.10%$10k-Sweep Account
0.05%$100-Property Tax Savings

AnchorBank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.25%$100k-Commodore Market Yield (MY)
0.15%$10k-Market Yield (MY)
0.10%$2,500-Market Rate Investment (MRI)

AnchorBank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$200k-Lawyers Trust Account (IOLTA)
0.05%--Real Estate Trust Account
0.05%--Advantage Checking

AnchorBank CD Rates

DetailsAPYMINMAXPRODUCT
1.25%$10k-5 Year Relationship CD Special
1.10%$10k-5 Year CD
0.75%$10k-4 Year CD
0.55%$10k-3 Year CD
0.50%$10k-23 Month Relationship CD Special
0.35%$10k-Collector's Addition 2-Year CD
0.30%$10k-1 1/2 Year CD
0.30%$5k-15 Month Relationship CD
0.25%$10k-1 Year CD
0.20%$5k-9 Month Relationship CD
0.15%$10k-6 Month CD
0.10%$500-3 Month CD
Locations

AnchorBank has 54 locations. Click to view all AnchorBank locations.