AnchorBank is headquartered in Madison and is the 4th largest bank in the state of Wisconsin. It is also the 346th largest bank in the nation. It was established in 1918 and as of March of 2014, it had grown to 678 employees at 54 locations. AnchorBank has a B health rating.
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.
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!
The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 AnchorBank had $111.98 million in non-current loans and owned real-estate with $254.63 million in equity and loan loss allowances on hand to cover it. This gives AnchorBank a Texas Ratio of 43.98% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for AnchorBank decreased dramatically from 112.57% as of March 31, 2013 to 43.98% as of March 31, 2014, resulting in a positive change of 60.93%.This indicates that the balance sheet and financial strength for AnchorBank has improved dramatically in recent periods.
In the past year, AnchorBank has decreased its total deposits by -$152.33 million, resulting in -7.51% 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.
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 $254.63 million in equity, resulting in a capitalization level of 12.08%, which is excellent.
|FDIC Certificate #||29979|
|Assets and Liabilities|
|Equity Capital||$201.13 million|
|Loan Loss Allowance||$53.50 million|
|Unbacked Noncurrent Loans||$49.84 million|
|Real Estate Owned||$62.14 million|
|Historic Data - March 2013|
|Equity Capital||$112.80 million|
|Loan Loss Allowance||$79.82 million|
|Unbacked Noncurrent Loans||$49.84 million|
|Real Estate Owned||$84.34 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.78%|
|Return on Assets||0.39%|
|Return on Equity||4.19%|
|Interest Income||$19.38 million|
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|0.20%||$10k||-||Heath Savings Account|
|0.10%||$1k||-||Business Statement Savings|
|0.05%||$100||-||Property Tax Savings|
|0.40%||$100k||-||Advantage Money Market Account|
|0.30%||$100k||-||AnchorBank Money Market Account|
|0.25%||$100k||-||Commodore Market Yield (MY)|
|0.15%||$10k||-||Market Yield (MY)|
|0.10%||$2,500||-||Market Rate Investment (MRI)|
|0.10%||$200k||-||Lawyers Trust Account (IOLTA)|
|0.05%||-||-||Real Estate Trust Account|
|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|