Asheville Savings Bank

Asheville Savings Bank Locations
11 Church Street
Asheville, NC 28801
828 250-8430
www.ashevillesavingsbank.com
The first charter was granted to Asheville Federal Savings and Loan Association in February 1936 and the Association opened in April that year. The first offices were at 12 Church Street (across the street from the current location) and Charles D. Parker was elected as the first President. In January 1942, Asheville Federal moved to 16 Church Street and by year-end the Association had almost 4,000 members and assets of just over $4 million. Continued growth resulted in moving again, to the street level floor at 18 Church Street, and by the end of 1955, assets stood at over $13 million.

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4.25% Reward Checking Account at a North Carolina Bank (Asheville Savings) - 11/9/2007

Update 7/04/09: The top yield has fallen to 4.25% APY.Asheville Savings Bank is offering a reward checking account that pays 4.25% APY for balances up to $25K (0.75% above) and refunds ATM fees if the following monthly requirements are met: 1) 10 check...



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See Rates for: Checking | Savings | Money Market | CD | IRA

Asheville Savings Bank Checking Account Rates

ApyMinMaxProduct
1.50%-$25kTBC – The Best Checking
0.75%$200-IOLTA Checking
0.60%$100k-Non-ProfitStyle Checking
0.20%$100k-CapitalStyle Checking
0.05%$500-FiftyFiveStyle Checking
0.05%$500-ConnectStyle Checking

Asheville Savings Bank Savings Account Rates

ApyMinMaxProduct
0.25%$25-SavingsStyle
0.25%$25-Dime-A-Saurus
0.25%$25-IRA SavingsStyle
0.25%$25-Business SavingsStyle
0.25%$25-Roth IRA SavingsStyle
0.24%$10k-HealthStyle

Asheville Savings Bank Money Market Rates

ApyMinMaxProduct
0.50%$100k-MoneyMarketStyle Savings
0.50%$100k-Premier MoneyMarketStyle Savings
0.49%$50k-Business MoneyMarketStyle
0.49%$50k-Premier Business MoneyMarketStyle

Asheville Savings Bank CD Rates

ApyMinMaxProduct
1.68%$10k-5 Year CD
1.46%$10k-4 Year CD
1.35%$10k-3 Year Bump Rate CD
1.15%$10k-30 Month CD
0.78%$10k-2 Year CD
0.73%$500-2 Year Blended Rate CD
0.58%$10k-18 Month CD
0.52%$10k-15 Month CD
0.40%$10k-1 Year CD
0.36%$10k-9 Month CD
0.35%$500-1 Year Blended Rate CD
0.35%$500-18 Month Accelerated CD
0.26%$10k-6 Month CD
0.25%$100k-90 Day Jumbo CD
0.21%$10k-91 Day CD
0.19%$100k-60 Day Jumbo CD
0.11%$100k-31 Day Jumbo CD
0.08%$500-7 Day CD

Asheville Savings Bank IRA Rates

ApyMinMaxProduct
1.68%$10k-5 Year IRA
1.68%$10k-5 Year Roth IRA
1.46%$10k-4 Year IRA
1.46%$10k-4 Year Roth IRA
1.35%$10k-3 Year Bump Rate IRA
1.35%$10k-3 Year Bump Rate Roth IRA
1.15%$10k-30 Month IRA
1.15%$10k-30 Month Roth IRA
0.78%$10k-2 Year IRA
0.78%$10k-2 Year Roth IRA
0.73%$500-2 Year IRA Blended Rate
0.73%$500-2 Year Roth IRA Blended Rate
0.58%$10k-18 Month IRA
0.58%$10k-18 Month Roth IRA
0.52%$10k-15 Month IRA
0.52%$10k-15 Month Roth IRA
0.40%$10k-1 Year IRA
0.40%$10k-1 Year Roth IRA
0.36%$10k-9 Month IRA
0.36%$10k-9 Month Roth IRA
0.35%$500-1 Year Blended Rate IRA
0.35%$500-1 Year Blended Rate Roth IRA
0.26%$10k-6 Month IRA
0.26%$10k-6 Month Roth IRA
0.21%$10k-91 Day IRA
0.21%$10k-91 Day Roth IRA
0.08%$500-7 Day IRA
0.08%$500-7 Day Roth IRA

Rates updated: 2/11/2012

Data for Q3 2011


Institution Statistics


Asheville Savings Bank, S.S.B.
FDIC Certificate #29663
BankRate ReportView
Year Established1936
Employees165
Primary RegulatorFDIC

Assets and Liabilities

Assets$798.89 million
Loans$443.85 million
Deposits$666.43 million
Equity Capital$67.68 million
Loan Loss Allowance$10.87 million
Unbacked Noncurrent Loans$11.57 million
Real Estate Owned$10.70 million

Historic Data - September 2010

Assets$770.29 million
Equity Capital$67.00 million
Loan Loss Allowance$16.88 million
Unbacked Noncurrent Loans$9.29 million
Real Estate Owned$10.39 million

Profit Margin - Quarterly

Net Interest Margin2.94%
Return on Assets0.33%
Return on Equity3.9%
Interest Income$22.28 million

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio3
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, 2011 Asheville Savings Bank had $22.26 million in non-current loans and owned real-estate with $78.55 million in equity and loan loss allowances on hand to cover it. This gives Asheville Savings Bank a Texas Ratio of 28.34% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Asheville Savings Bank held steady from 23.46% as of September 30, 2010 to 28.34% as of September 30, 2011, resulting in a negative change of 20.81%. This indicates that the balance sheet and financial strength for Asheville Savings Bank has held steady in recent periods.
Deposit Growth4
In the past year, Asheville Savings Bank has increased its total deposits by $28.33 million, resulting in 4.44% 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 Asheville Savings Bank has shown is above average.
Capitalization3
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. Asheville Savings Bank has $798.89 million in assets with $78.55 million in equity, resulting in a capitalization level of 9.83%, which is average.
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