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623-463-1440
7010 E Chauncey Lane, # 120
Phoenix, AZ 85054

Bank 1440 is headquartered in Phoenix and is the 21st largest bank in the state of Arizona. It is also the 5,173rd largest bank in the nation. It was established in 2007 and as of December of 2013, it had grown to 19 employees at 2 locations. Bank 1440's money market rates are 14% higher than the national average, and it has a B+ health rating.

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Reviews (1)

Bank 1440-Closing Its Doors

This Bank is on death's door step. The bank president was let go over 10 months ago - The credit department is unable to make a lending decision-poorly managed, and lack of knowledge. The front end folks are very nice however, the kindness stops there. Expect this bank to close its doors by the end of the year!!!!



Health

Data for Q4 2013

Institution Health

B+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Bank 1440 has a relatively low asset base.

Texas Ratio

GRADE:
B+

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 Bank 1440 had $1.7 million in non-current loans and owned real-estate with $12.4 million in equity and loan loss allowances on hand to cover it. This gives Bank 1440 a Texas Ratio of 13.76% which is above 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 Bank 1440 decreased dramatically from 26.49% as of December 31, 2012 to 13.76% as of December 31, 2013, resulting in a positive change of 48.08%.This indicates that the balance sheet and financial strength for Bank 1440 has improved dramatically in recent periods.

Deposit Growth

GRADE:
A

In the past year, Bank 1440 has increased its total deposits by $2.74 million, resulting in 3.99% 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 Bank 1440 has shown is excellent.

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. Bank 1440 has $82.48 million in assets with $12.4 million in equity, resulting in a capitalization level of 15.03%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #58460
Year Established2007
Employees19
Primary RegulatorFDIC
Assets and Liabilities
Assets$82.48 million
Loans$61.56 million
Deposits$71.52 million
Equity Capital$10.70 million
Loan Loss Allowance$1.70 million
Unbacked Noncurrent Loans$1.71 million
Real Estate Owned$0
Historic Data - December 2012
Assets$79.22 million
Equity Capital$10.23 million
Loan Loss Allowance$1.69 million
Unbacked Noncurrent Loans$1.71 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin5.31%
Return on Assets1.06%
Return on Equity8.11%
Interest Income$4.71 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Bank 1440, we are a rate comparison website and can not provide official rates or promotions.

Bank 1440 Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.20%--Personal Savings
0.20%$100-Business Savings

Bank 1440 Money Market Rates

DetailsAPYMINMAXPRODUCT
0.50%$100k-Personal Money Market
0.50%$100k-Business Money Market

Bank 1440 Checking Account Rates

DetailsAPYMINMAXPRODUCT
1.25%-$25kOptimum Checking
1.25%$1k-501-C3 Non-Profit Checking
0.40%$100k-Basic Non-Profit Checking
0.30%$100k-Senior Interest Checking
0.30%$100k-Personal Interest Checking
0.30%$100k-Business Interest Checking
0.10%--Optimum Checking

Bank 1440 CD Rates

DetailsAPYMINMAXPRODUCT
1.11%$1k-36 Month Add On Certificate of Deposit
0.86%$1k-24 Month Add On Certificate of Deposit
0.66%$1k-18 Month Certificate of Deposit
0.56%$1k-12 Month Certificate of Deposit
0.31%$1k-6 Month Certificate of Deposit
0.15%$1k-3 Month Certificate of Deposit
0.10%$1k-7-30 Day Certificate of Deposit
Locations


Bank 1440 Locations
Peoria Branch14155 North 83rd Avenue, Suite 117Peoria, AZ 85381
Bank 14407010 East Chauncey Lane, Suite 120Phoenix, AZ 85054