Bank of Ripley
Bank of Ripley is headquartered in Ripley and is the 89th largest bank in the state of Tennessee. It is also the 2,950th largest bank in the nation. It was established in 1939 and as of March of 2014, it had grown to 69 employees at 4 locations. Bank of Ripley has a B health rating.
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Great Customer Service And Great Interest Rates.
Ignore what you've read below I've been an online member of this bank for several years now from Texas. Granted when I signed up with them they had a 5.25% interest rate which yes of course has dropped to 2.51%apy over time and I would expect that with the economy the way it is and has been going.
As for customer service the ladies have always been polite and helpful and telling me how to submit forms over the internet in email and I've been able to get new debit cards quite quickly with their service. They even went the extra mile to inform me I was sending my transfers to the wrong address.
I will continue to bank with them unless someone comes up with a much higher interest rate on their high yield checking accounts that won't drop overnight. I've tried a few others and yes there is the gimmick to get you to join with the high interest rates that you'll get for basically one month before the real interest rates kick in which is around 2% to 2.72% apy. With little to no risk these are great interest rates you can't get anywhere in a SAVINGS account. Yes you have to make 10-15 purchases per month with your card but who doesn't do that anyways? Buying groceries and gas and dining out easily take up those few purchases per month to net you those great interest rates.
The Worst Customer Service
This bank has the worst customer service. They will talk to you in a friendly voice but are not helpful at all. Two weeks after I opened my account and changed over all my online bill pay and direct deposit accounts, they lowered my interest rate- which was my reason for choosing them in the first place. Then they hit you with all sorts of fees. I tried to give the little guy a chance but after this treatment I am returning to First Tennessee where I have always been treated well.
Bad Banking Business
Data for Q1 2014
Institution Health
Texas Ratio
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 Bank of Ripley had $3.87 million in non-current loans and owned real-estate with $30.84 million in equity and loan loss allowances on hand to cover it. This gives Bank of Ripley a Texas Ratio of 12.54% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Bank of Ripley increased slightly from 6.01% as of March 31, 2013 to 12.54% as of March 31, 2014, resulting in a negative change of 108.57%. This indicates that the balance sheet and financial strength for Bank of Ripley has declined slightly in recent periods.
Deposit Growth
In the past year, Bank of Ripley has decreased its total deposits by -$6.01 million, resulting in -3.26% 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 of Ripley has shown is below average.
Capitalization
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 of Ripley has $208.96 million in assets with $30.84 million in equity, resulting in a capitalization level of 14.76%, which is excellent.
Institution Statistics
| Overall | |
|---|---|
| FDIC Certificate # | 15673 |
| Year Established | 1939 |
| Employees | 69 |
| Primary Regulator | FDIC |
| Assets and Liabilities | |
|---|---|
| Assets | $208.96 million |
| Loans | $73.82 million |
| Deposits | $178.08 million |
| Equity Capital | $29.06 million |
| Loan Loss Allowance | $1.78 million |
| Unbacked Noncurrent Loans | $3.03 million |
| Real Estate Owned | $840,000 |
| Historic Data - March 2013 | |
|---|---|
| Assets | $216.39 million |
| Equity Capital | $30.72 million |
| Loan Loss Allowance | $811,000 |
| Unbacked Noncurrent Loans | $3.03 million |
| Real Estate Owned | $1.30 million |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 3.67% |
| Return on Assets | 0.56% |
| Return on Equity | 4.05% |
| Interest Income | $1.93 million |
Sorry, we do not have rate data for Bank of Ripley
| Bank of Ripley Locations | ||
|---|---|---|
| Bank Of Ripley | 134 North Jefferson Street | Ripley, TN 38063 |
| Highway 51 Branch | 1775 Highway 51 South | Covington, TN 38019 |
| Washington Street Facility | 311 South Washington Street | Ripley, TN 38063 |
| Bank Of Ripley | Hwy 51 Location 514 Hwy 51 North | Ripley, TN 38063 |