Bank of the Wichitas is headquartered in Snyder and is the 114st largest bank in the state of Oklahoma. It is also the 4,214st largest bank in the nation. It was established in 1913 and as of September of 2013, it had grown to 50 employees at 4 locations. Bank of the Wichitas has a A health rating.
Bank of Wichitas operates its online bank under Red Neck Bank- which I find a little embarrasing to have emblazoned across my debit card. The website including the bill pay page is straight forward with no frills. You won't get great service or any bells and whistles, but the rate is pretty good. Just make sure you get your 10 non-atm transactions per month.
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 Bank of the Wichitas had $966,000 in non-current loans and owned real-estate with $11.89 million in equity and loan loss allowances on hand to cover it. This gives Bank of the Wichitas a Texas Ratio of 8.12% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Bank of the Wichitas decreased dramatically from 31.95% as of September 30, 2012 to 8.12% as of September 30, 2013, resulting in a positive change of 74.57%.This indicates that the balance sheet and financial strength for Bank of the Wichitas has improved dramatically in recent periods.
In the past year, Bank of the Wichitas has increased its total deposits by $4.37 million, resulting in 4.21% 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 the Wichitas 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. Bank of the Wichitas has $124.04 million in assets with $11.89 million in equity, resulting in a capitalization level of 9.59%, which is above average.
|FDIC Certificate #||4198|
|Assets and Liabilities|
|Equity Capital||$10.72 million|
|Loan Loss Allowance||$1.17 million|
|Real Estate Owned||$966,000|
|Historic Data - September 2012|
|Equity Capital||$10.66 million|
|Loan Loss Allowance||$1.23 million|
|Unbacked Noncurrent Loans||$0|
|Real Estate Owned||$1.35 million|
|Profit Margin - Quarterly|
|Net Interest Margin||4.4%|
|Return on Assets||1.77%|
|Return on Equity||20.08%|
|Interest Income||$4.15 million|
Always verify rates and promotions with the bank or credit union. We are not Bank of the Wichitas, we are a rate comparison website and can not provide official rates or promotions.
|2.00%||-||$10k||Wichita Rewards Checking|
|0.25%||-||-||Wichita Rewards Checking|
|Bank of the Wichitas Locations|
|Medicine Park Branch||24077 State Hwy 49||Medicine Park, OK 73557|
|Cache Branch||605 South 8th Street||Cache, OK 73527|
|Bank Of The Wichitas||623 E Street||Snyder, OK 73566|
|Elgin Branch||8207 Ushwy 277||Elgin, OK 73538|