Androscoggin Savings Bank is headquartered in Lewiston and is the 13st largest bank in the state of Maine. It is also the 879th largest bank in the nation. It was established in 1870 and as of September of 2013, it had grown to 142 employees at 12 locations. Androscoggin Savings Bank has a B+ health rating.
I would not recommend this bank to ANYONE. While their staff is very nice, I've had an account with them for many years and unfortunately, my identity and security has been breached more times than I can count on one hand. I understand the breaches on large organizations such as Hannaford and TJMaxx, where they were out of the banks control. But most recently, my account information and all my money has been stolen by someone outside of the country. The last time, someone is Florida was running around with my information.
The first few times this happened they reassured me that this couldn't happen again, but now I am at wits end. Once I receive my money back, which could take up to 2 months, making it so all my bills bounce, charging ME fees and other things because their systems are NOT secure, I will be taking my money to a credit union. They will not be reimbursing me for the fees I have to pay because of their insecure systems. One of their representatives had remarked that this might be safer. This is very sad.
On top of this, I learned about this in a LETTER via regular USPS mail. Don't you think this requires a emergency phone call? Every penny I own was stolen and I physically cannot use my debit card, and they thought a letter was sufficient? This seems like poor business practices.
Unfortunately, because I have a personal loan through Androscoggin, I have to keep a account with them, but it will be limited.
In a time where NO bank seems good, it's almost worth paying BOA the $5 to ensure my money is in fact THERE.
I cannot express my discontent with this bank, and while the bank representatives are sympathetic. They are not able to do anything for during the holiday season. Merry Christmas to me, as they admit that this has become an increasing problem for them.
Very sad. My recommendation if you are looking for a bank in Maine -- go for a credit union!
Their overdraft fee is $30 where a lot of other banks charge a lot less. Even if you go over what you have with pennies you will be charged the $30. You always have to have $100 in savings or you will be charged every month. The bank now charges $5 a month if you do not meet certain standards. Pretty much if you do not want a bank to charge money for everything, steer clear of Androscoggin Bank.
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 September 30, 2013 Androscoggin Savings Bank had $11.67 million in non-current loans and owned real-estate with $90.3 million in equity and loan loss allowances on hand to cover it. This gives Androscoggin Savings Bank a Texas Ratio of 12.93% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Androscoggin Savings Bank held steady from 13.63% as of September 30, 2012 to 12.93% as of September 30, 2013, resulting in a positive change of 5.18%.This indicates that the balance sheet and financial strength for Androscoggin Savings Bank has held steady in recent periods.
In the past year, Androscoggin Savings Bank has increased its total deposits by $28.98 million, resulting in 5.4% 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 Androscoggin Savings Bank has shown is excellent.
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. Androscoggin Savings Bank has $758.39 million in assets with $90.3 million in equity, resulting in a capitalization level of 11.91%, which is excellent.
|FDIC Certificate #||17751|
|Assets and Liabilities|
|Equity Capital||$83.14 million|
|Loan Loss Allowance||$7.16 million|
|Unbacked Noncurrent Loans||$7.57 million|
|Real Estate Owned||$4.10 million|
|Historic Data - September 2012|
|Equity Capital||$79.75 million|
|Loan Loss Allowance||$6.41 million|
|Unbacked Noncurrent Loans||$7.57 million|
|Real Estate Owned||$2.88 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.53%|
|Return on Assets||0.46%|
|Return on Equity||4.17%|
|Interest Income||$22.41 million|
Always verify rates and promotions with the bank or credit union. We are not Androscoggin Savings Bank, we are a rate comparison website and can not provide official rates or promotions.
|0.10%||-||-||Health Savings Account|
|0.07%||$100k||-||Business Partners Savings|
|0.01%||-||-||IRA Saver Account|
|0.03%||$25k||-||Business Money Market Account|
|0.10%||-||-||Community NOW Checking|
|0.03%||$25k||-||BlueWave Interest Checking|
|1.05%||$500||-||4 Year Step up CD|
|0.85%||$500||-||5 Year CD|
|0.85%||$500||-||5 Year Partners Plus CD|
|0.65%||$500||-||4 Year CD|
|0.65%||$500||-||4 Year Partners Plus CD|
|0.50%||$500||-||3 Year CD|
|0.50%||$500||-||3 Year Partners Plus CD|
|0.35%||$500||-||2 Year CD|
|0.35%||$500||-||2 Year Partners Plus CD|
|0.30%||$500||-||18 Month Fixed Rate CD|
|0.30%||$500||-||18 Month Fixed Rate Partners Plus CD|
|0.25%||$500||-||9 Month CD|
|0.25%||$500||-||9 Month Partners Plus CD|
|0.20%||$500||-||6 Month CD|
|0.20%||$500||-||1 Year CD|
|0.20%||$500||-||6 Month Partners Plus CD|
|0.20%||$500||-||1 Year Partners Plus CD|
|1.05%||$500||-||4 Year Step up IRA|
|0.85%||$500||-||5 Year Partners Plus IRA|
|0.85%||$500||-||5 Year IRA|
|0.65%||$500||-||4 Year Partners Plus IRA|
|0.65%||$500||-||4 Year IRA|
|0.50%||$500||-||3 Year Partners Plus IRA|
|0.50%||$500||-||3 Year IRA|
|0.35%||$500||-||2 Year Partners Plus IRA|
|0.35%||$500||-||2 Year IRA|
|0.30%||$500||-||18 Month Fixed Rate Partners Plus IRA|
|0.30%||$500||-||18 Month Fixed Rate IRA|
|0.20%||$500||-||6 Month Partners Plus IRA|
|0.20%||$500||-||1 Year Partners Plus IRA|
|0.20%||$500||-||6 Month IRA|
|0.20%||$500||-||1 Year IRA|
|0.13%||$500||-||18 Month Variable Rate Partners Plus IRA|
|0.13%||$500||-||18 Month Variable Rate IRA|